Author Topic: Your Money or Your Life by Joe Dominguez and Vicki Robin  (Read 3632 times)

lifejoy

  • Magnum Stache
  • ******
  • Posts: 2954
  • Age: 28
  • Location: Canada, eh
  • Lovin' the Mustachian life!
    • Not Buying This
Your Money or Your Life by Joe Dominguez and Vicki Robin
« on: February 09, 2017, 02:26:16 PM »
I didn't see a thread already started for this book, but let me just say: it is epic.

http://www.goodreads.com/book/show/78428.Your_Money_or_Your_Life

Also I feel like the Mad FIentist's graph pairs really well with it: http://www.madfientist.com/fi-laboratory/

For myself, I've read the book but I recently listened to the audiobook (for free, through my library, on Overdrive) and it was fantastic.

Anyone else love this book?

dandarc

  • Magnum Stache
  • ******
  • Posts: 2686
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #1 on: February 09, 2017, 02:29:56 PM »
I still need to read this book, as it is like the FIRE bible, or at least a founding document.

But, if you're looking for forum threads, if you google:

forum.mrmoneymustache.com "your money or your life" will get you to some existing discussion
Link to my journal, so I can find it quickly - http://forum.mrmoneymustache.com/journals/dandarc's-journal/

FIRE_at_45

  • Handlebar Stache
  • *****
  • Posts: 1708
  • Location: Vancouver, BC, Canada
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #2 on: February 09, 2017, 03:19:41 PM »
Just the motivation I needed to place it on hold at my library.  I've heard so many great things about this book I'm excited to read it.
I have a journal: http://forum.mrmoneymustache.com/journals/'i-was-in-the-pool!-i-was-in-the-pool!'-shrinkage-is-real/

Canadian and not satisfied with your current bank?  Switch to Tangerine using this key 47894562S1 and we both win.

lifejoy

  • Magnum Stache
  • ******
  • Posts: 2954
  • Age: 28
  • Location: Canada, eh
  • Lovin' the Mustachian life!
    • Not Buying This
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #3 on: February 09, 2017, 03:56:51 PM »
I still need to read this book, as it is like the FIRE bible, or at least a founding document.

But, if you're looking for forum threads, if you google:

forum.mrmoneymustache.com "your money or your life" will get you to some existing discussion

Definitely like a FIRE bible!!! Damn it's good. I loved the updated audiobook. Vicki Robin has such a nice voice.

Thanks for the reminder about google. I actually went page by page in the book club section of the forum, and went ctrl F on each page to see if this title had been mentioned in its own thread. I think perhaps not? But this book is so great, if it gets mentioned time and time again - that's ok too ;)

Stachey

  • Pencil Stache
  • ****
  • Posts: 901
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #4 on: February 09, 2017, 06:15:06 PM »
Yes YMOYL is the book that started it all I would say.
It was a life changing book for many people, including myself.
I definitely recommend it.
http://forum.mrmoneymustache.com/journals/writing-myself-a-happy-ending-hopefully/

If you open a Tangerine account with $100, you will get a $50 sign up bonus!  That can't be a bad thing.  Use Orange Key: 40425919S1

lifejoy

  • Magnum Stache
  • ******
  • Posts: 2954
  • Age: 28
  • Location: Canada, eh
  • Lovin' the Mustachian life!
    • Not Buying This
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #5 on: February 10, 2017, 06:04:33 AM »
In my own book, I told the story of how I never got past the first chapter (?), yet it transformed EVERYTHING for me. Also, Googling the title many years later is how I found this forum :)

Scrubbyfish? Is that you?

Livingthedream55

  • Stubble
  • **
  • Posts: 216
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #6 on: April 25, 2017, 11:27:01 AM »
Vicki Robin is working on a 2017 version as we speak. : 0 )



FIRE_at_45

  • Handlebar Stache
  • *****
  • Posts: 1708
  • Location: Vancouver, BC, Canada
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #7 on: April 25, 2017, 12:45:17 PM »
I just finished the 2008 one and it was very good.  MMM has the forward for the new version so that will be interesting as well.
I have a journal: http://forum.mrmoneymustache.com/journals/'i-was-in-the-pool!-i-was-in-the-pool!'-shrinkage-is-real/

Canadian and not satisfied with your current bank?  Switch to Tangerine using this key 47894562S1 and we both win.

pachnik

  • Handlebar Stache
  • *****
  • Posts: 1502
  • Age: 53
  • Location: Vancouver, BC
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #8 on: April 25, 2017, 04:49:19 PM »
Vicki Robin is working on a 2017 version as we speak. : 0 )

That's good to know.  I just got the 2008 one and keep meaning to try it again.  Tried a few years ago and didn't get very far.  :(   

ditkanate

  • 5 O'Clock Shadow
  • *
  • Posts: 72
    • ditka's dumb journal
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #9 on: May 04, 2017, 02:53:11 PM »
Recently bought this book at a thrift store, but haven't had time to read it yet.  Will post a review / notes when I do.

iris lily

  • Handlebar Stache
  • *****
  • Posts: 2320
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #10 on: May 05, 2017, 06:56:08 AM »
The central idea of the book, that you are trading your life energy for money from The Man, is gold.

The rest of it, figuring up your past income and where it went, tracking spending, and income producing assets to see the crossover point, is all detailed mechanics.

I knew abput the book abput 20 years before I actually read it. That idea of early retirement from a punch-the-timeclock-job was always in my mind, so I didnt need or want the detailed methodology to get there. I have my own methodology, Joe and Vicky didnt corner the market on that. I respect the tedious process of tracking everythng, it is just not for me.
« Last Edit: May 05, 2017, 06:58:19 AM by iris lily »

Heroes821

  • Bristles
  • ***
  • Posts: 446
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #11 on: May 10, 2017, 07:31:01 AM »
Vicki Robin is working on a 2017 version as we speak. : 0 )

Any news on when that will release I heard MMM is doing the forward for it and I've been holding off getting a copy until this one is released.

kite

  • Pencil Stache
  • ****
  • Posts: 536
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #12 on: May 15, 2017, 09:27:43 AM »
Love this book. 
YmOYL and Amy Daczyzyn had an unshakeable impact in my formative years. 

lhamo

  • Walrus Stache
  • *******
  • Posts: 5377
  • Location: Seattle
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #13 on: May 15, 2017, 07:29:55 PM »
Love this book. 
YmOYL and Amy Daczyzyn had an unshakeable impact in my formative years.

Me, too!

I remember watching AmyD on Phil Donohue when I was in high school.

Read YMOYL as I was nearing the end of grad school (dissertation avoidance technique), after seeing Joe and Vicki on Oprah. 

I guess I also watched a lot of talk shows back in the day.  Podcasts and forums are my thing now....
Wherever you go, there you are

rpr

  • Pencil Stache
  • ****
  • Posts: 526
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #14 on: May 15, 2017, 09:33:15 PM »
By the time I first came across this book, I was well into my upper 30s. Just the exercise of listing how much total income we had made over our working life that far compared to how much we had left (Net Worth) was very illuminating. Of course, the net worth was negative back when we started.  This idea really clicked with me.

lifejoy

  • Magnum Stache
  • ******
  • Posts: 2954
  • Age: 28
  • Location: Canada, eh
  • Lovin' the Mustachian life!
    • Not Buying This
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #15 on: May 15, 2017, 09:39:18 PM »
Love this book. 
YmOYL and Amy Daczyzyn had an unshakeable impact in my formative years.

Me, too!

I remember watching AmyD on Phil Donohue when I was in high school.

Read YMOYL as I was nearing the end of grad school (dissertation avoidance technique), after seeing Joe and Vicki on Oprah. 

I guess I also watched a lot of talk shows back in the day.  Podcasts and forums are my thing now....

I wish I could see that Oprah episode!!

iluvzbeach

  • Stubble
  • **
  • Posts: 154
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #16 on: May 15, 2017, 09:55:47 PM »
Love this book. 
YmOYL and Amy Daczyzyn had an unshakeable impact in my formative years.

Me, too!

I remember watching AmyD on Phil Donohue when I was in high school.

Read YMOYL as I was nearing the end of grad school (dissertation avoidance technique), after seeing Joe and Vicki on Oprah. 

I guess I also watched a lot of talk shows back in the day.  Podcasts and forums are my thing now....

I wish I could see that Oprah episode!!

Me too! If someone knows how to find it, please post info.
Planning to be FIREd in 2020!

Livingthedream55

  • Stubble
  • **
  • Posts: 216
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #17 on: May 18, 2017, 10:27:12 AM »
Vicki Robin is working on a 2017 version as we speak. : 0 )

Any news on when that will release I heard MMM is doing the forward for it and I've been holding off getting a copy until this one is released.

I am a volunteer reviewer. It's going to Penguin next month. I have no idea after that how longs things take.



Heroes821

  • Bristles
  • ***
  • Posts: 446
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #18 on: May 18, 2017, 12:29:19 PM »
Vicki Robin is working on a 2017 version as we speak. : 0 )

Any news on when that will release I heard MMM is doing the forward for it and I've been holding off getting a copy until this one is released.

I am a volunteer reviewer. It's going to Penguin next month. I have no idea after that how longs things take.

Thanks Livingthedream!. I appreciate that. I figured it'd be ready by Christmas, but I was going to buy a copy for mother's day as a gift. Oh well no harm in waiting.

chrisgermany

  • 5 O'Clock Shadow
  • *
  • Posts: 64
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #19 on: May 28, 2017, 04:50:06 AM »
I bought it on a summer trip in Seattle 1992, when I was 34. I was hooked instantly and realised that I could apply some of it living in Germany, too.
We have not been extremely mustachian, never hated our jobs but wanted to get our time back while still able to enjoy travelling.
ERed in 2013, DH age 61 and me at 55.




rpr

  • Pencil Stache
  • ****
  • Posts: 526
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #20 on: June 24, 2017, 04:48:04 AM »
By the time I first came across this book, I was well into my upper 30s. Just the exercise of listing how much total income we had made over our working life that far compared to how much we had left (Net Worth) was very illuminating. Of course, the net worth was negative back when we started.  This idea really clicked with me.

I finally got around to do a modified calculation for the last 10 years based on one that I read in the book about determining your lifetime income that you have received from all sources and how much you have saved.

Out of every $1.00 earned over the last 10 years:
Taxes = $0.21 (includes Fed+State+FICA)
Savings = $0.42  ***
Spending = $0.37

*** The savings does not include the principal portion of the required mortgage payments nor the down payment on the house. This is considered as part of spending.

So savings rate was 42% of gross income or 53% of take home (disposable income).


lifejoy

  • Magnum Stache
  • ******
  • Posts: 2954
  • Age: 28
  • Location: Canada, eh
  • Lovin' the Mustachian life!
    • Not Buying This
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #21 on: June 24, 2017, 05:27:56 PM »
I'm reading the "sequel" called "Getting a Life". I'll let you know if it's any good!

dcamnc

  • Bristles
  • ***
  • Posts: 335
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #22 on: June 25, 2017, 06:24:13 PM »
I'm not trying to be the contrarian, but this is the one personal finance book that people seem to love, that I didn't care for. I don't remember what I didn't like about it now, it's been a while. I'll try the new version when it comes out.

lifejoy

  • Magnum Stache
  • ******
  • Posts: 2954
  • Age: 28
  • Location: Canada, eh
  • Lovin' the Mustachian life!
    • Not Buying This
Re: Your Money or Your Life by Joe Dominguez and Vicki Robin
« Reply #23 on: June 26, 2017, 03:47:47 AM »
I'm not trying to be the contrarian, but this is the one personal finance book that people seem to love, that I didn't care for. I don't remember what I didn't like about it now, it's been a while. I'll try the new version when it comes out.

Books can speak to us at different times. I know I've picked up books I'm supposed to love and not cared for them. So maybe the timing wasn't right, or maybe it's just not your cup of tea! :)