Author Topic: YAWNs - Young and Wealthy but Normal  (Read 1735 times)

arebelspy

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YAWNs - Young and Wealthy but Normal
« on: August 24, 2012, 02:53:17 PM »
Anyone heard of that acronym?

Ran across it in this article.  Sounds very Mustachian.

Their three tenants are:  Live Below Your Means.  Buy [only] Stuff That You Need.  Help Others By Giving Back.

Their example person:
Quote
Rik Wehbring - He is in his late thirties and lives in San Francisco. Rik is a dot-com millionaire who made his wealth working for several Internet startups. The frugal part of the YAWN philosophy is demonstrated by the fact that he gets by on $50,000 a year. That indeed is a feat considering the fact that San Fransisco is one of the costliest cities to live in US. Rik is a self proclaimed frugal guy who does not need a lot of material possessions. He does not have a TV, listens to music on a $20 MP3 player and drives a gas-thrifty and environment friendly Toyota Prius.

So I google'd that acronym - YAWN - and found some other articles discussing it, among them the Investopedia definition:
Quote
A class of self-made millionaires that live relatively modest lives. Instead of spending wealth on gaining luxurious items and living expensive lifestyles, these individuals prefer to make contributions to charitable causes and spend time with their families.   

Sounds fairly Mustachian (the main difference being - IMO - that with a YAWN philosophy you become rich first, then live that way.. if you don't/can't become rich, nothing you can do about it.  Mustachianism says you can live that life now, and become rich later/through that process.)

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James

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Re: YAWNs - Young and Wealthy but Normal
« Reply #1 on: August 24, 2012, 03:39:40 PM »
I like that idea, and whenever I hear of people who are doing just that it gives me a lot of respect for them.  Now I know what to call them if mustachian doesn't fit.
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darkelenchus

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Re: YAWNs - Young and Wealthy but Normal
« Reply #2 on: August 24, 2012, 04:17:37 PM »
Anyone heard of that acronym?

Their three tenants are:  Live Below Your Means.  Buy [only] Stuff That You Need.  Help Others By Giving Back.

Sounds fairly Mustachian (the main difference being - IMO - that with a YAWN philosophy you become rich first, then live that way.. if you don't/can't become rich, nothing you can do about it.  Mustachianism says you can live that life now, and become rich later/through that process.)



Haven't heard of this before, but went to college with someone who has basically approached life and finances like this.
We are what we repeatedly do. Excellence, then, is not an act, but a habit. - Aristotle

Petruchio

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Re: YAWNs - Young and Wealthy but Normal
« Reply #3 on: September 03, 2012, 02:31:51 PM »
Never heard the acroynm before, but sounds how I want to live my life. Power to Yawning!