MMM on Nightline! (May 12, 2015)

[arebelspy]

Website traffic is an okay indicator of growth.

[cerebus]

I think it would have had a bit more credibility if they hadn't done the "don't buy coffee out".

It is SUCH low hanging fruit that it is somewhat annoying as money saving advice.

It's low hanging fruit but if I judge by the eating standards of my colleagues, it can't be overstated. Every day I see these same guys popping over to the KFC for lunch or bringing in lattes from the coffee shop, then complaining about how hard it is to make it these days on a normal salary. These are mainstream 5 minute human interest news reports not deep diving investigations.

[Spork]

I think it would have had a bit more credibility if they hadn't done the "don't buy coffee out".

It is SUCH low hanging fruit that it is somewhat annoying as money saving advice.

It's low hanging fruit but if I judge by the eating standards of my colleagues, it can't be overstated. Every day I see these same guys popping over to the KFC for lunch or bringing in lattes from the coffee shop, then complaining about how hard it is to make it these days on a normal salary. These are mainstream 5 minute human interest news reports not deep diving investigations.

100% true, this.  "Latte factor" is as much a symbol of a problem as it is a problem.  Out of all my work friends, I suspect less than 10 percent actually eat a home prepared meal twice a week or more.  [Non-home prepared meals including fast food, inexpensive restaurants, expensive restaurants and frozen bricks of Stouffer's sadness.]

[Travis]

I think it would have had a bit more credibility if they hadn't done the "don't buy coffee out".

It is SUCH low hanging fruit that it is somewhat annoying as money saving advice.

It's low hanging fruit but if I judge by the eating standards of my colleagues, it can't be overstated. Every day I see these same guys popping over to the KFC for lunch or bringing in lattes from the coffee shop, then complaining about how hard it is to make it these days on a normal salary. These are mainstream 5 minute human interest news reports not deep diving investigations.

It's not so low-hanging when you factor in just how much a person can spend on a single drink at Starbucks.  On the occasions DW buys one, she spends about $2.50, but I've seen people easily drop $5 on a single drink, and I know coworkers who will buy some kind of Starbucks drink twice a day.

[forummm]

I think it would have had a bit more credibility if they hadn't done the "don't buy coffee out".

It is SUCH low hanging fruit that it is somewhat annoying as money saving advice.

It's low hanging fruit but if I judge by the eating standards of my colleagues, it can't be overstated. Every day I see these same guys popping over to the KFC for lunch or bringing in lattes from the coffee shop, then complaining about how hard it is to make it these days on a normal salary. These are mainstream 5 minute human interest news reports not deep diving investigations.

100% true, this.  "Latte factor" is as much a symbol of a problem as it is a problem.  Out of all my work friends, I suspect less than 10 percent actually eat a home prepared meal twice a week or more.  [Non-home prepared meals including fast food, inexpensive restaurants, expensive restaurants and frozen bricks of Stouffer's sadness.]

I have some relatives with 4 young kids, lots of debt, and low-paying jobs. They still blow a couple hundred bucks a month on fancy coffee. It's insanity.

[mohawkbrah]

"Mr. Money Mustache is the financial guru for the hipster generation"

pretty sure this statement insults everyone here

[brooklynguy]

Website traffic is an okay indicator of growth.

Is there a way to see the website traffic trends over the past few years?  The "See the Stats" page only goes back 30 days.

[arebelspy]

Website traffic is an okay indicator of growth.

Is there a way to see the website traffic trends over the past few years?  The "See the Stats" page only goes back 30 days.

Not sure (obviously unless you're MMM and have access to stuff we don't). I have forum stats, but not overall website.  The forum is trending up (in terms of members, number of posts/month, etc.)

Year over year posts for April, for example (since May isn't completed yet):
2012: 2525
2013: 8208
2014: 22990
2015: 36159

[brooklynguy]

Not sure (obviously unless you're MMM and have access to stuff we don't). I have forum stats, but not overall website.  The forum is trending up (in terms of members, number of posts/month, etc.)

Year over year posts for April, for example (since May isn't completed yet):
2012: 2525
2013: 8208
2014: 22990
2015: 36159

Interesting.  It would be really telling if there starts to be a huge spike in number of actual extremely early retirees in X years (which itself isn't that easy to measure, but could be somewhat approximated using the methods discussed in this thread).

[arebelspy]

Not sure (obviously unless you're MMM and have access to stuff we don't). I have forum stats, but not overall website.  The forum is trending up (in terms of members, number of posts/month, etc.)

Year over year posts for April, for example (since May isn't completed yet):
2012: 2525
2013: 8208
2014: 22990
2015: 36159

Interesting.  It would be really telling if there starts to be a huge spike in number of actual extremely early retirees in X years (which itself isn't that easy to measure, but could be somewhat approximated using the methods discussed in this thread).

I don't see how it could not.  We're already seeing it anecdotally from forum members ERing who (often say they) wouldn't have otherwise.

[lise]

Not sure (obviously unless you're MMM and have access to stuff we don't). I have forum stats, but not overall website.  The forum is trending up (in terms of members, number of posts/month, etc.)

Year over year posts for April, for example (since May isn't completed yet):
2012: 2525
2013: 8208
2014: 22990
2015: 36159

Interesting.  It would be really telling if there starts to be a huge spike in number of actual extremely early retirees in X years (which itself isn't that easy to measure, but could be somewhat approximated using the methods discussed in this thread).

I don't see how it could not.  We're already seeing it anecdotally from forum members ERing who (often say they) wouldn't have otherwise.

Exactly this - I always saved money, but didn't actually realized I had enough to retire soon until I read about MMM via NY Magazine article.  I always had in my mind that I needed millions more - I never did the math until I read the article.

[brooklynguy]

I don't see how it could not.  We're already seeing it anecdotally from forum members ERing who (often say they) wouldn't have otherwise.

Yeah but we can't draw statistically significant conclusions about the broader population from what's going on in the sample that is this forum (maybe 95% of the population's early retiree subpopulation already participates in this forum).  But if we saw an increase in the national early retiree population (based on Census or similar data) that is anything close to commensurate with the increase in forum activity or increase in anecdotal ER rate we're seeing in the forum, that would really be something.

[arebelspy]

I don't see how it could not.  We're already seeing it anecdotally from forum members ERing who (often say they) wouldn't have otherwise.

Yeah but we can't draw statistically significant conclusions about the broader population from what's going on in the sample that is this forum (maybe 95% of the population's early retiree subpopulation already participates in this forum).  But if we saw an increase in the national early retiree population (based on Census or similar data) that is anything close to commensurate with the increase in forum activity or increase in anecdotal ER rate we're seeing in the forum, that would really be something.

Yes, that would be awesome.

My point though is if we're seeing it here, it's happening more because of MMM.  It just may not be in significant numbers overall.

[forummm]

I don't see how it could not.  We're already seeing it anecdotally from forum members ERing who (often say they) wouldn't have otherwise.

Yeah but we can't draw statistically significant conclusions about the broader population from what's going on in the sample that is this forum (maybe 95% of the population's early retiree subpopulation already participates in this forum).  But if we saw an increase in the national early retiree population (based on Census or similar data) that is anything close to commensurate with the increase in forum activity or increase in anecdotal ER rate we're seeing in the forum, that would really be something.

Yes, that would be awesome.

My point though is if we're seeing it here, it's happening more because of MMM.  It just may not be in significant numbers overall.

I think MMM is having an impact. I'm not sure how many people are converts though. For example, what about someone like me? I have always been frugal and saved a lot. My spending rate hasn't declined too dramatically since I found ERE/MMM within the past 2 years--less than 10%. I was well on my way to FI (an explicit goal of mine from age 18) before finding ERE/MMM. Jakob and Pete helped me think about what I was doing differently--and in great ways. But I was on this path before them. A lot of the people on this forum are in the same boat. It's only been around a few years, but they accumulated their stash and some even retired before it came online.

And the typical reaction to MMM seems to be (both from my own conversations with over a dozen people I know and from comments on articles like the Nightline piece) that it's not for them, it's not real, it's not practical, you have to live for now, they couldn't do it, I'm a freak, etc. I wonder how many people actually converted hardcore and will see it through to ERE. I consider myself a fan but not a convert.

[fb132]

He has made an impact on my life. When people say stuff like "You gotta live, we have one life to live", it doesn't bother me, because MMM opened up my eyes on what real freedom is and what real happiness is, it is certainly not buying cars and traveling just to impress your neighbour. Before MMM, I was not in debt, but I wasn't saving much. Since reading about MMM, my savings have gone up from 8-10% to all the way to 40%. I never thought about going FI before MMM, I thought saving 10-15% of my paycheck was enough, but MMM opened up my eyes especially on the FI part. Now, I want to be FI, I want to be able to go to work and not worry if the company will close it's doors or if I will get fired or anything, because when your FI, that worry disappears. I have managed to find creative ways to have fun without spending alot of money to hurt my savings, unfortunately people are brainwashed into thinking that spending money = Happiness guaranteed.

[Roadhog]

I loved seeing the video.   My hope is that because of it, more people will discover the blog and set themselves on a path to freedom.  Yes, talking about giving up the fancy take-out coffee habit is low hanging fruit, but SO many people are still caught in that trap.   Once you figure out that it's a ton of small things that add up to big savings and ultimately freedom.  Plus he made me laugh with his imitation of using a lat pull machine at the gym.  He's very funny.

[cerebus]

I think MMM is having an impact. I'm not sure how many people are converts though.

I'm definitely a convert in the sense that I was fumbling towards something like trying to be more frugality, and seeing it as a suffering - and discovering MMM only very recently made me realize that frugality doesn't have to mean deprivation if you learn how to be self-reliant and focus on the things that make you happy, like real authentic values.

Given my financial situation I'm not sure if FIRE is achievable in anywhere like the kind of timeframes he talks about though, as right now even with the maximum of effort I think I can save a maximum of about 15% once I sign onto a mortgage, which is in the sights. But the important thing is that those expenses are constant, not variable, and if I can move up the earnings ladder over the next few years, they will increase significantly.

I actually don't care too much about FIRE; it's not the end goal of my life anyway. I just want to get control over my finances and get my kids through university and ensure a comfortable pre-60s retirement with enough in the bank that my wife and I can have simple, worry-free lives.

[solon]

Is there a video? The link in the OP doesn't contain a video, but everyone is talking like it does. I turned off my ad blocker, still nothing. Can someone point me to the actual vid?

[cerebus]

Is there a video? The link in the OP doesn't contain a video, but everyone is talking like it does. I turned off my ad blocker, still nothing. Can someone point me to the actual vid?

For me it autoplays from the site after a couple of minutes. Not sure why it's not playing for you.

[solon]

After a brief search of the nightline website, I found this link:
http://abcnews.go.com/Nightline/video/mr-money-moustache-retired-age-30-30998548

Slightly different than the OP, but it played perfectly.

[ontario74]

The segment, I agree, was a bit simplistic. Especially regarding the latte factor. It had to be simple because of brevity and the depressing fact that most American media content is at the Grade 4 level :( Overall it was good though.

MMM has changed my life (on my way to 50% savings in about 5 years, currently at 23%).

Seeing the report solidified my decision to hold onto my 2009 vehicle as long as I can and I will definitely be paying cash for a "new" one.

I didn't read the comments; people lash out at others from their own points of weakness.

[arebelspy]

he is CLEARLY seen taking more than 10 items through the express check-out line. No credibility. What a fraud.  I quit the cult ;)

I saw that too!

But it was a great feature, badassity indeed.

Apparently that grocery store uses a sign that they can flip around with "10 items or less" on one side and "Open" on the other--he went through an "Open" line, but since it was shot from the back, looking forward, you saw the 10 items or less (which wasn't currently "active")--Pete noted how it was a good example of how things get distorted without knowing the actual situation.  :)

[PtboEliz]

[/quote]

Apparently that grocery store uses a sign that they can flip around with "10 items or less" on one side and "Open" on the other--he went through an "Open" line, but since it was shot from the back, looking forward, you saw the 10 items or less (which wasn't currently "active")--Pete noted how it was a good example of how things get distorted without knowing the actual situation.  :)
[/quote]

Oh, thanks for the info arebelspy. I was just teasing and assumed that with the camera crew it made sense to go through the quicky check-out.

[arebelspy]

Oh, thanks for the info arebelspy. I was just teasing and assumed that with the camera crew it made sense to go through the quicky check-out.

Yeah, I thought it was funny too.  :)

It does make a good example of how things get distorted when you don't have facts though (even when it seems perfectly reasonable to think that distortion is true--I thought he was in a 10 item or less line as well).

[StockBeard]

Add me to the people whose life has been changed by MMM.
My first reading about early retirement was the ERE book and I was like "wow, that's not for me". Then I found MMM, and the approach felt way more doable to me: tiny changes here and there, maximize happiness. Yes, that I can do.

Before I discovered MMM I was thinking of retiring around 55 maybe. Now I think I'm maybe 5 years away from it, which means before 40.

This was a great video, much better than what I would expect from mainstream media, I think they've done a great job at summarizing this given the short length!

[MinimalistMoustache]

Great interview! I really enjoyed this and appreciate the link. MMM and his family always inspire me.
Needed the extra shot of motivation today, so this showed up in perfect time!

[One Noisy Cat]

    I had no idea that "Nightline" was still on the air.


Good but brief. I would think a news show could devote more time but that's life today. I owe MMM the fact he convinced me to retire in 2014 instead of 2016 and to buy a beater when the 1998 gave up the ghost.

Comments were a pleasant surprise. Usually get a lot of complainy pants saying it can't be done. Perhaps seeing a friendly face and voice stifles the doubters.

[solon]

I hated Nirvana the first time I heard them.  For me, my first reaction to something new is, "This is garbage!"  But once I get beyond the initial shock, once I actually start to process what I'm experiencing, I usually change see or hear something different.  If you don't judge me for hating Nirvana, then I suppose I won't judge the comments section on any early retirement article for being complainy-pants dumbasses.

I don't judge you for hating Nirvana. I judge you for liking Nirvana.