Author Topic: Marketwatch article - You Can Retire Early w/o Adopting MMM's Extreme Frugality  (Read 3635 times)

dude

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I think most here will find this non-controversial and right on point.  Based on my experience with these forums, I think there are far more >$25k/year future retirees than $25k retirees.

https://www.marketwatch.com/story/you-can-retire-early-without-adopting-mr-money-mustaches-extreme-frugality-2018-01-11

DS

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Quote from: MMM
If You Think This is About Extreme Frugality, You’re Missing The Point

http://www.mrmoneymustache.com/2014/11/23/not-extreme-frugality/

Rockne

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Love the point this article makes.

For me, it's really about working toward the number that will give me the lifestyle I'm aiming for in non-corporate donkey land. I love all the points and principles MMM lays out, and I adjust them for my specific needs and desires.

The crucial thing is getting to that honest place about what's most important to you- without that, you're just chasing a number and not happiness.

Travis

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At first I thought he was just going to bash Pete, but it turns out the article only uses him as a point of reference.  Having said that, he forgot or missed the number of times Pete has gone into detail about his lifestyle and that he's not missing out on anything he enjoys.  This was one of the most balanced non-MMM early retirement articles I've seen in a long time - if ever. 

My favorite part of the article has to be him poo-pooing retirement calculators that only determine what you should have in the stache based on some percentage of your income, which is followed up by a retirement calculator embedded in the article that does exactly that. 

Blackeagle

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My favorite part of the article has to be him poo-pooing retirement calculators that only determine what you should have in the stache based on some percentage of your income, which is followed up by a retirement calculator embedded in the article that does exactly that.

I'm pretty sure the author is not responsible for the retirement calculator.

Definitely one of the better early retirement articles I've seen on a mainstream site.

Travis

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My favorite part of the article has to be him poo-pooing retirement calculators that only determine what you should have in the stache based on some percentage of your income, which is followed up by a retirement calculator embedded in the article that does exactly that.

I'm pretty sure the author is not responsible for the retirement calculator.

Definitely one of the better early retirement articles I've seen on a mainstream site.

He's not.  That same calculator comes at the end of a number of their articles. I just found it ironic that MarketWatch is guilty of the same thing one of their columnists is railing against.

dude

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  Having said that, he forgot or missed the number of times Pete has gone into detail about his lifestyle and that he's not missing out on anything he enjoys.   

Right, but Pete's experience is subjective. Just because he doesn't feel like he's missing out on things living on $25k/year, doesn't mean you or I won't. I don't care what anybody else thinks, but $25k/year would be far too limiting for me alone, nevermind me and my spouse. YMMV, of course.

Travis

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  Having said that, he forgot or missed the number of times Pete has gone into detail about his lifestyle and that he's not missing out on anything he enjoys.   

Right, but Pete's experience is subjective. Just because he doesn't feel like he's missing out on things living on $25k/year, doesn't mean you or I won't. I don't care what anybody else thinks, but $25k/year would be far too limiting for me alone, nevermind me and my spouse. YMMV, of course.

It's not quite enough for me after housing expenses either, but these articles which talk about him usually make a stink about how his way of life is simply wrong rather than actually look at what he's doing with his time and money.  This was a generally positive article on our community, but that part about how he's "extremely frugal" like it ought to be something to be avoided bugged me - doubly so because it's not really an accurate description of his position.

Reddleman

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About that calculator. . .

Geez, I just plugged in a quick approximation of our current funds, income, and monthly retirement savings. 

Looks like I've got a long way to go if I want that $442K income every year! 

Crazy.

But yeah, the article is pretty good.

Supernumerary

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Thanks for this. I find it a bit startling that many approach the subject of early retirement as a concept that you either accept at face value or opt out of completely. It's obvious there is no one-size-fits-all and that all your decisions should be made with personal reflection in mind.

brooklynmoney

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The best part about that calculator is it won't let me input my savings because it seems to max out at 40% of your salary haha. Guess it's physically impossible to save more?!

ender

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  Having said that, he forgot or missed the number of times Pete has gone into detail about his lifestyle and that he's not missing out on anything he enjoys.   

Right, but Pete's experience is subjective. Just because he doesn't feel like he's missing out on things living on $25k/year, doesn't mean you or I won't. I don't care what anybody else thinks, but $25k/year would be far too limiting for me alone, nevermind me and my spouse. YMMV, of course.

He also has creatively hidden a lot of his yearly spending in such a way to get benefits from business, etc.

He undoubtedly has and does live below his means. But the $25k/year figure is pretty misleading in my opinion.

Travis

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About that calculator. . .

Geez, I just plugged in a quick approximation of our current funds, income, and monthly retirement savings. 

Looks like I've got a long way to go if I want that $442K income every year! 

Crazy.

But yeah, the article is pretty good.

I'm envisioning a server having a logical meltdown.

App: You have enough to retire, but my software is designed to think you can't retire until your 60s. Does not compute!

Freedom2016

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I don't understand why that calculator says to exclude retirement savings from the savings amount? Does it think monthly savings toward retirement is starting at a $0 balance today?