Downsides about MMM's ideas

[Ferrisbueller]

There's a good few articles and opinions about MMM's ideas being workable or right or even desirable.
When I first got hooked on MMM and read a huge amount on the website I always came back to what for me is THE question "what's the worst case scenario if I do this?"
Answer
- a big pile of cash = a big pile of options

Seems so self evident that there is no real downside to mustachianism (did you see what I did there?).

Simples eh?

[Kris]

LOL!

I clicked on this with a massive eye roll, saying to myself, "Oh, for god's sake another naysayer troll."

You got me.

[Mr Dumpster Stache]

Sure there's downsides! Just look at that big, long thread about mustachian problems! We're the real victims, here.

[Retired To Win]

Yea, I was ready for a verbal fight , too.  Good show.

And you've struck it exactly right.  It's all about options.  Choices. Freedom!

[Cassie]

Exactly!!

[mozar]

I was trying to come up with downsides but I couldn't think of any.

[Ricky]

Actually, sometimes, too many choices can be a bad thing.

[pachnik]

I was trying to come up with downsides but I couldn't think of any.

+1  Seems pretty obvious to me that there is no downside.

[forummm]

One downside is that you never get to find out what it's like to live your entire life paycheck-to-paycheck and then die without having time to really do what you want.

All that freedom is so scawy.

[Erica/NWEdible]

Downside: sometimes it hurts to be out of the matrix. No, for real - sometimes it would be nice to wrap a nice comforting blanket of "retail therapy" around me instead of having to actually deal with my shit. Once you kinda "get" how stupid that whole consumerist world is, though, you can't - it just doesn't work. Red pill and all that.

Also sometimes you have to talk politely to other people and they complain about the payments on their new Escalade and you have to just nod and murmur your faux-empathetic support instead of coldclocking them, because people frown on the coldclocking.

[Elderwood17]

The only downside is as you become more aware of the craziness around you, you can't quite relate to some people that you would have in the pre-MMM days.  I have parted ways with a few of my most spendy pants acquaintances, but no regrets.

[forummm]

Another downside is that it makes it more awkward around other people when they want to do expensive things or expect that you will do expensive things for them. This could be hard for dating, being around coworkers socially, and family.

[Ricky]

It's easy to become a judgmental bastard after reading some of MMM's more "directed" articles, but I think that shouldn't be an issue for anyone. Or, at least, we shouldn't let it be. It's human nature to think things are strange and weird if it's something different from oneself.

[HappierAtHome]

The only downside is as you become more aware of the craziness around you, you can't quite relate to some people that you would have in the pre-MMM days.  I have parted ways with a few of my most spendy pants acquaintances, but no regrets.

This has been an increasing problem for me lately. People sound INSANE now when they talk about money, and I find myself growing more distant from them as I find I can't share most of my happiness / good news.

[Suit]

I couldn't agree more OP. I can't picture a future version of me that's mad that my younger self for saving so much.   Worst case scenario I go off the rails and spend everything else I ever make and work for 35 years until traditional retirement and I will still have a good chunk of money for retirement.

[Vorpal]

Downside: sometimes it hurts to be out of the matrix. No, for real - sometimes it would be nice to wrap a nice comforting blanket of "retail therapy" around me instead of having to actually deal with my shit. Once you kinda "get" how stupid that whole consumerist world is, though, you can't - it just doesn't work. Red pill and all that.

I have to agree with this, it can be a real downside. There are a few things I really want... That I've dreamed about having for years -- and I can't bring myself to buy them. I just can't anymore. Some days it's like the Emperor is right there, imploring me to take that light saber, to give in to my desires. I *really* want that damn light saber, but I push the feelings back and they pass. Until the next time.

[Guesl982374]

As others have stated, the downside is being the oddball in a number of social situations and being ultra aware of how self-defeating humans actually are.

[Dicey]

My neighbor has late model Mercedes, Land Rover, Audi and more in her stable. A random conversation led to discussion of a planned new car purchase. When the words "Car payments" entered the conversation, it was all I could do not to roll my eyes.
That's it! Mustachianism has given me an eye-rolling problem!!

[Cpa Cat]

One downside is that your children won't have shoes.

http://forum.mrmoneymustache.com/welcome-to-the-forum/hurtful-comments/?topicseen

[arebelspy]

Potential Downside: You realize how responsible you are for your own life/entertainment.  That much agency can scare people.

[arebelspy]

One downside is that your children won't have shoes.

http://forum.mrmoneymustache.com/welcome-to-the-forum/hurtful-comments/?topicseen

They were probably stolen.

http://jlcollinsnh.com/2013/07/08/they-will-kill-you-for-your-shoes/

[MaxP0wer]

My neighbor has late model Mercedes, Land Rover, Audi and more in her stable. A random conversation led to discussion of a planned new car purchase. When the words "Car payments" entered the conversation, it was all I could do not to roll my eyes.
That's it! Mustachianism has given me an eye-rolling problem!!

As auto interest rates are low, perhaps they prefer to keep money in their investments making even more while making car payments.  I certainly would.

[golden1]

Potential Downside: You realize how responsible you are for your own life/entertainment.  That much agency can scare people.

Agreed.  You realize that most people neither appreciate nor desire actual freedom. 

[forummm]

Another downside is that I won't be able to use work as an excuse for not visiting the in-laws more.

[NorCal]

Downside:  You actually have to think about who you are, and can't define yourself by your career forever.

[galliver]

Based on some of the case studies I've read on here, I think transitioning into MMM gives a lot of people a significant degree of stress, initially. But with figuring out how to make it work in their lifestyle, it passes.

[forummm]

You can't just buy things on autopilot as the default. You have to decide whether you really want to work an extra 2 days to buy that silver Tiffany straw.

[jengod]

Downside: sometimes it hurts to be out of the matrix. No, for real - sometimes it would be nice to wrap a nice comforting blanket of "retail therapy" around me instead of having to actually deal with my shit. Once you kinda "get" how stupid that whole consumerist world is, though, you can't - it just doesn't work. Red pill and all that.

Also sometimes you have to talk politely to other people and they complain about the payments on their new Escalade and you have to just nod and murmur your faux-empathetic support instead of coldclocking them, because people frown on the coldclocking.

*nods*

We just got a Whole Foods down the street and I've been waiting for this for years but now I'm having a nervous breakdown because I don't need any of it! We have a garden, an Azure Standard delivery and a Sprouts down the street the other direction.

It is now all Too Much.

[4alpacas]

Downside: sometimes it hurts to be out of the matrix. No, for real - sometimes it would be nice to wrap a nice comforting blanket of "retail therapy" around me instead of having to actually deal with my shit. Once you kinda "get" how stupid that whole consumerist world is, though, you can't - it just doesn't work. Red pill and all that.

Also sometimes you have to talk politely to other people and they complain about the payments on their new Escalade and you have to just nod and murmur your faux-empathetic support instead of coldclocking them, because people frown on the coldclocking.

*nods*

We just got a Whole Foods down the street and I've been waiting for this for years but now I'm having a nervous breakdown because I don't need any of it! We have a garden, an Azure Standard delivery and a Sprouts down the street the other direction.

It is now all Too Much.

My favorite part of whole foods is the bulk aisle.  You can buy a teaspoon of an exotic spice for a recipe.  You can buy the exact amount you need!  Mind blowing!

[sunday]

According some other threads here, apparently one downside is that it turns some of your friends and family into jerks.

[sunday]

My neighbor has late model Mercedes, Land Rover, Audi and more in her stable. A random conversation led to discussion of a planned new car purchase. When the words "Car payments" entered the conversation, it was all I could do not to roll my eyes.
That's it! Mustachianism has given me an eye-rolling problem!!

As auto interest rates are low, perhaps they prefer to keep money in their investments making even more while making car payments.  I certainly would.

Yeah, we were planning to buy our car for all cash, but when they offered car payments for an interest rate of 0%, it just seemed stupid to turn it down.

[mxt0133]

My neighbor has late model Mercedes, Land Rover, Audi and more in her stable. A random conversation led to discussion of a planned new car purchase. When the words "Car payments" entered the conversation, it was all I could do not to roll my eyes.
That's it! Mustachianism has given me an eye-rolling problem!!

As auto interest rates are low, perhaps they prefer to keep money in their investments making even more while making car payments.  I certainly would.

Yeah, we were planning to buy our car for all cash, but when they offered car payments for an interest rate of 0%, it just seemed stupid to turn it down.

If it's a new car then unless you are talking about real returns of 15-20% on those investments then the depreciation on the newly financed car will be hard to overcome if you are getting the standard 7% real returns on index funds.  Plus the higher cost of insurance to boot.

[sunday]

My neighbor has late model Mercedes, Land Rover, Audi and more in her stable. A random conversation led to discussion of a planned new car purchase. When the words "Car payments" entered the conversation, it was all I could do not to roll my eyes.
That's it! Mustachianism has given me an eye-rolling problem!!

As auto interest rates are low, perhaps they prefer to keep money in their investments making even more while making car payments.  I certainly would.

Yeah, we were planning to buy our car for all cash, but when they offered car payments for an interest rate of 0%, it just seemed stupid to turn it down.

If it's a new car then unless you are talking about real returns of 15-20% on those investments then the depreciation on the newly financed car will be hard to overcome if you are getting the standard 7% real returns on index funds.  Plus the higher cost of insurance to boot.

.

The decision for the car was already made. It was indeed a new car, and we were going to purchase it one way or the other. The financing that was available played no part in the decision.

[Mrs.LC]

Downside:  Once you retire you never get a day off again...

[MichaelR]

Maybe not a real downside but for those of us for whom our job is a vocation, not slavery, then MMM's ideas are not always a comfortable fit. Or at least the passion for "freedom" from work is not one we necessarily relate to. It is "freedom" from things/possessions that I do relate to, and a desire to impact minimally on the planet.

[forummm]

My neighbor has late model Mercedes, Land Rover, Audi and more in her stable. A random conversation led to discussion of a planned new car purchase. When the words "Car payments" entered the conversation, it was all I could do not to roll my eyes.
That's it! Mustachianism has given me an eye-rolling problem!!

As auto interest rates are low, perhaps they prefer to keep money in their investments making even more while making car payments.  I certainly would.

Yeah, we were planning to buy our car for all cash, but when they offered car payments for an interest rate of 0%, it just seemed stupid to turn it down.

Me 2x. I of course was already going to buy the cars because it was such a great financial decision anyway. But since I've invested both what I spent on the car and the tax credits, I've made quite a bit in the market with the free money already.

Downside:  Once you retire you never get a day off again...

I knew there was a catch!

[Dicey]

My neighbor has late model Mercedes, Land Rover, Audi and more in her stable. A random conversation led to discussion of a planned new car purchase. When the words "Car payments" entered the conversation, it was all I could do not to roll my eyes.
That's it! Mustachianism has given me an eye-rolling problem!!

As auto interest rates are low, perhaps they prefer to keep money in their investments making even more while making car payments.  I certainly would.

Yeah, we were planning to buy our car for all cash, but when they offered car payments for an interest rate of 0%, it just seemed stupid to turn it down.

Me 2x. I of course was already going to buy the cars because it was such a great financial decision anyway. But since I've invested both what I spent on the car and the tax credits, I've made quite a bit in the market with the free money already.

I was referring to the fact that the kind of car they were going to buy would be influenced by the fact that they couldn't pay cash for it. In your case, you smartly seized a good option that was available to you and made the most of it.

In fact, my mom did this and it saved our asses in the end. She wanted a brand new Camry after theirs was totaled. Toyota was offering 0%, so the saleswoman persuaded her to keep her money invested and take the loan. Fast forward, when my mom died, my deadbeat sister tried to make a grab for the car. We (the trustees) told her we'd be happy to let her have it if she could prove that she could make the $500/mo. payments. Yeah, that didn't happen.

[Retired To Win]

Maybe not a real downside but for those of us for whom our job is a vocation, not slavery, then MMM's ideas are not always a comfortable fit. Or at least the passion for "freedom" from work is not one we necessarily relate to. It is "freedom" from things/possessions that I do relate to, and a desire to impact minimally on the planet.

Financial Independence and "FU" money are always to be prized.  It gives one options and alternatives if that fire in the belly for one's occupation dies out.  Came a day when mine did. And thank goodness I did have the options.

[Roadhog]

I have a friend on FB who constantly posts photos of nice looking restaurant meals.   I can't help but tally up the costs based on what is ordered...it's breakfast, lunch, dinner.   My mental calculator can't turn off.  And I certainly can't "like" the hit to her net worth.   It would be nice to say, hey nice looking sushi, but I just can't.

[forummm]

I have a friend on FB who constantly posts photos of nice looking restaurant meals.   I can't help but tally up the costs based on what is ordered...it's breakfast, lunch, dinner.   My mental calculator can't turn off.  And I certainly can't "like" the hit to her net worth.   It would be nice to say, hey nice looking sushi, but I just can't.

My brain always goes to cost too. It's a reflex. Maybe thinking about money all the time is another downside. I would do it anyway because that's how I'm wired. But it probably does increase the focus on it some.

[Cassie]

There is always the risk that if you put everything off you will die before you do it. I have known a few people like that. That is why we started to do some travel when we were 50 & are now doing more in this decade.

[arebelspy]

There is always the risk that if you put everything off you will die before you do it. I have known a few people like that. That is why we started to do some travel when we were 50 & are now doing more in this decade.

Yup, that's why the wife and I FIREd, so we can do what we want now and not put it off until retiring at a normal age, like most.  What if you don't reach that age. Better to ER as early as possible. :)

[forummm]

There is always the risk that if you put everything off you will die before you do it. I have known a few people like that. That is why we started to do some travel when we were 50 & are now doing more in this decade.

This is true. It's also more likely that by being frugal from a young age you actually get to have time to do all the stuff you want to do after you RE.

[arebelspy]

There is always the risk that if you put everything off you will die before you do it. I have known a few people like that. That is why we started to do some travel when we were 50 & are now doing more in this decade.

This is true. It's also more likely that by being frugal from a young age you actually get to have time to do all the stuff you want to do after you RE.

Plus you have the means to do things while you're still working (even in the shorter career) too.

[forummm]

There is always the risk that if you put everything off you will die before you do it. I have known a few people like that. That is why we started to do some travel when we were 50 & are now doing more in this decade.

This is true. It's also more likely that by being frugal from a young age you actually get to have time to do all the stuff you want to do after you RE.

Plus you have the means to do things while you're still working (even in the shorter career) too.

So another downside is that you accomplish all your bucket list items by the time your 43 and then you have to just sit and twiddle your thumbs and count your money for 50 more years.

[pachnik]

There is always the risk that if you put everything off you will die before you do it. I have known a few people like that. That is why we started to do some travel when we were 50 & are now doing more in this decade.

+1  not everyone is guaranteed a long and healthy life.  This is something I am very mindful of at my age (51).  Last year we took a "big" holiday and we're going on another big one next year.  This year we are staying local. 

[Cycling Stache]

Let's face it.  The downside is that many people think you're weird.  I've managed to convert a couple of people so far, and I've gotten a few more interested, but I've definitely become that odd guy at work who doesn't spend much money.

The good news is that more people are getting intrigued, but spending way less than you make is NOT how the vast majority of people live!

Of course, I'm fine with it.  I don't mind being the guy who's excited about something, especially something that can help people out so much.

[forummm]

Yeah, people think you're weird.

Also, there's a whole lot of mental gymnastics and soul searching and contemplation required. It's actually a lot of work--at least for me. I'm always thinking through what I really want to do, and how best to get there, and how quickly I'll feel comfortable doing it, and what's that target number, and would I be able to do this risky career move in exchange for downshifting a little more early. It's a lot "easier" (in one sense) just to keep the pedal to the floor on the earnings and just spend on whatever you want to as long as there's money in the account.

[Potterquilter]

The downside for me is it is hard to keep my big mouth shut.

Case in point:  two twenty something relatives sent a picture of themselves to their parents at a fancy restaurant eating a meal, glasses of wine on the table. The parents are working in their mid fifties with little retirement savings and they pay their kids car insurance because they can't afford it.  It took all my strength to hold back on screaming "Are you kidding me?  You are accruing  huge college debt and have been for five and six years respectively.  And they continue to take out loans for school.   STOP IT. Go home  and cook for goodness sakes."   

[2ndTimer]

The downside is that if I'm not having fun I have only myself to blame.