Author Topic: Any Interest in MMM conference?  (Read 9722 times)

kkbmustang

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Any Interest in MMM conference?
« on: April 05, 2014, 09:27:06 PM »
I started typing this big long post but it disappeared. Don't know where it went. So here I go again. I was wondering if there would be an interest in a gathering, for several days, along the lines of a MMM Bootcamp of issues impacting FIRE.  One might go through each parts of a balance statement.

Income
-ways it increase this
-a session on networking and resume prep and cover letter polishing
-a session on identifying areas of study in which you need to invest

Expenses
- how to limit your expenses
- a session on reducing your usage of utilities, tips and tricks
-a session on reducing your phone expense a la IP Daley
-a session on maximizing your deferrals to tax advantaged vehicles 401(k), 403(b), 457, DB PLANS, non qualified deferred compensation, HSAS, etc.
-a session on getting and keeping your groceries low
-Mustachianism with kids

Tips and tricks to reaching FIRE faster.

Transitioning to FIRE
-the Roth pipeline
-substantial periodic payments
- rental properties:.what to do, how to get started, what to look for

What do you do to make sure you're ready for FIRE?
What to think about, etc.?
There are places like campgrounds, maybe even some with cabins, that could be utilized. What do you think?

NinetyFour

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Re: Any Interest in MMM conference?
« Reply #1 on: April 05, 2014, 09:31:41 PM »
Oh, yeah, I would be down for something like this.  Thanks!

arebelspy

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Re: Any Interest in MMM conference?
« Reply #2 on: April 05, 2014, 09:56:53 PM »
Sounds like you're thinking of something geared towards beginners?

IMO, an "intermediate" level conference may be better, as those level of Mustachians may be more likely to travel to an event like that and may be better able to afford doing so.

Regardless, if it is feasible for me to attend, I would, I enjoy meeting up with Mustachians.

There is a Yahoo group started for the Seattle Camp Mustache retreat, and one of the discussions going on is what type of "breakout" discussions to have, similar to this thread's ideas.
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swick

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Re: Any Interest in MMM conference?
« Reply #3 on: April 05, 2014, 09:59:56 PM »
Would an online version be possible? something like a series of webinars or google hangouts or something like that? I totally get a real face to face, interactive camp...just thinking for those who can't travel, or you could have some regional customization (especially for differences between Canada and US) and might be able to get some involvement from the pros (IP Daley, Nords for Military) then we could archive them and have replays available for new members and such too...or release them through youtube or whatnot....

Sorry brainstorming might have gone off track. Your idea is a neat one :)

Nords

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Re: Any Interest in MMM conference?
« Reply #4 on: April 05, 2014, 11:27:24 PM »
Sounds like you're thinking of something geared towards beginners?
IMO, an "intermediate" level conference may be better, as those level of Mustachians may be more likely to travel to an event like that and may be better able to afford doing so.
Another option, if you get enough attendees and speakers, is to run multiple tracks on the same schedule:  a beginner topic in one room, an intermediate topic in another room, an advanced topic in a third.  Maybe the fourth & fifth rooms would have a panel discussion on a broader topic, or a success story.

arebelspy

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Re: Any Interest in MMM conference?
« Reply #5 on: April 05, 2014, 11:53:09 PM »
Sounds like you're thinking of something geared towards beginners?
IMO, an "intermediate" level conference may be better, as those level of Mustachians may be more likely to travel to an event like that and may be better able to afford doing so.
Another option, if you get enough attendees and speakers, is to run multiple tracks on the same schedule:  a beginner topic in one room, an intermediate topic in another room, an advanced topic in a third.  Maybe the fourth & fifth rooms would have a panel discussion on a broader topic, or a success story.


That's a good idea.  Wonder how many people would go to such an event.  The problem is the same as those that have tried to monitors frugality sites: good luck trying to get that demographic to pay to travel and attend a conference. ;)
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Nords

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Re: Any Interest in MMM conference?
« Reply #6 on: April 06, 2014, 12:16:54 AM »
Sounds like you're thinking of something geared towards beginners?
IMO, an "intermediate" level conference may be better, as those level of Mustachians may be more likely to travel to an event like that and may be better able to afford doing so.
Another option, if you get enough attendees and speakers, is to run multiple tracks on the same schedule:  a beginner topic in one room, an intermediate topic in another room, an advanced topic in a third.  Maybe the fourth & fifth rooms would have a panel discussion on a broader topic, or a success story.
That's a good idea.  Wonder how many people would go to such an event.  The problem is the same as those that have tried to monitors frugality sites: good luck trying to get that demographic to pay to travel and attend a conference. ;)
Yep.  It worked out all right for the second FinCon (250 attendees) and went very well on the third (350+).  The third FinCon also had a blogger boot camp on the day before the main conference began, so a lot of new bloggers were attracted to the package deal.

"Beginner" doesn't necessarily mean "total noob".  Some attendees would want a talk on basic budgeting, while others want to dig into advanced techniques, while still others want to compare all the different budgeting software/website choices.  Real estate could practically have its own track, as would bicycling and recycling and investing. 

I agree that a recent college graduate with $40K of debt would be unlikely to attend unless the conference was right down the street from their home or workplace...


arebelspy

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Re: Any Interest in MMM conference?
« Reply #7 on: April 06, 2014, 12:21:27 AM »
Good points.

I am, however, completely convinced that the average financial blogger is much worse at finances than the average Mustachian (especially forum member).
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MayDay

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Re: Any Interest in MMM conference?
« Reply #8 on: April 06, 2014, 05:39:06 AM »
We would be interested but aren't likely to travel far.  We aren't retired yet so eye have to plan out vacation time carefully.  Our 2014 travel was set by the end of 2013.  If a conference was planned wayyyyyy in advance we could engineer vacation plans to overlap with it. 

kkbmustang

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Re: Any Interest in MMM conference?
« Reply #9 on: April 06, 2014, 07:44:15 AM »
Awesome ideas. I'm not tech savvy at all but would it be possible to have a primary location and then hook up other satellite locations via Skype or video conference?

Daley

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Re: Any Interest in MMM conference?
« Reply #10 on: April 06, 2014, 08:01:06 AM »
I would be open to the idea of participating and speaking at anything along these lines (real or virtual), but any physical location appearance beyond deep in the heart of the country (Oklahoma, New Mexico, Texas, Kansas, Arkansas, Colorado, Missouri) would be right out for me. I really don't like to fly, and I can't handle extended road trips like I used to. :)

doyouknowwhy

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Re: Any Interest in MMM conference?
« Reply #11 on: April 06, 2014, 08:09:28 AM »
Yes indeed!

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Re: Any Interest in MMM conference?
« Reply #12 on: April 06, 2014, 08:40:46 AM »
I'd be interested in coming if it were near my (California). You could also setup a webinar using webex or adobe connect, or some kind of similar hosting site. I guess it depends on how many people would be attending (you can do a 25 day free trial with adobe connect that supports 25 attendees). Maybe even youtube live? It would be useful to have real-time questions answered, and the ability to screen share spreadsheets if you're explaining certain concepts.


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Re: Any Interest in MMM conference?
« Reply #13 on: April 06, 2014, 09:34:35 AM »
I would be interested, especially if there was a good focus on taxes and tax planning. But I'm in Shanghai. Some kind of online satellite conference based on the main live one would be cool. I'd definitely be down for organizing something in this city, but I'm not sure we have the critical mass here.

forward

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Re: Any Interest in MMM conference?
« Reply #14 on: April 06, 2014, 02:40:37 PM »
Awesome ideas. I'm not tech savvy at all but would it be possible to have a primary location and then hook up other satellite locations via Skype or video conference?

I think a meeting is a great idea and would attend and contribute if I can get it to fit my schedule.  I have put on a range of meetings large and small so I have some experience mostly from the organizational and agenda planning side of things.  I don't have much experience on the remote site tech.  The idea of multiple tracks is a good one, you just need to make sure you have enough attendees to populate each track, starting small is usually best.

Bogleheads have done a meeting and have one planned for this fall, their model would probably work well for MMM group.  I think they may be limiting registrations to about 250.

arebelspy

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Re: Any Interest in MMM conference?
« Reply #15 on: April 06, 2014, 02:51:11 PM »
Bogleheads have done a meeting and have one planned for this fall, their model would probably work well for MMM group.  I think they may be limiting registrations to about 250.

BiggerPockets did an REI summit in 2012 and didn't repeat it in 2013.  Rumor has it that it was a money loser, and they can't figure out how to make it work.

It's a tough thing to pull off. 
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Nords

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Re: Any Interest in MMM conference?
« Reply #16 on: April 06, 2014, 05:23:48 PM »
Good points.
I am, however, completely convinced that the average financial blogger is much worse at finances than the average Mustachian (especially forum member).
Agreed.  That's probably how they were inspired to blog-- by holding themselves accountable for getting out of debt and then building net worth.  (Oh, and the AdSense income is inspirational too...)  The only FI bloggers I see at FinCon are a couple who sold their blogs for seven figures, entrepreneurial rock stars like Pat Flynn or Derek Halpern, and a few guys in my age 50+ demographic.  And frankly, it's hard to imagine that any of them would turn it off and spend the rest of their lives surfing.

My impression of conferences is that the organizer works their butt off for slave wages, and really benefits from the subsequent networking and sponsorships.  The Bigger Pockets guys have probably already talked to the FinCon organizer (Philip Taylor) and decided that it was too painful to pursue.

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Re: Any Interest in MMM conference?
« Reply #17 on: April 06, 2014, 05:42:54 PM »
Good points.
I am, however, completely convinced that the average financial blogger is much worse at finances than the average Mustachian (especially forum member).
Agreed.  That's probably how they were inspired to blog-- by holding themselves accountable for getting out of debt and then building net worth.  (Oh, and the AdSense income is inspirational too...)  The only FI bloggers I see at FinCon are a couple who sold their blogs for seven figures, entrepreneurial rock stars like Pat Flynn or Derek Halpern, and a few guys in my age 50+ demographic.  And frankly, it's hard to imagine that any of them would turn it off and spend the rest of their lives surfing.

My impression of conferences is that the organizer works their butt off for slave wages, and really benefits from the subsequent networking and sponsorships.  The Bigger Pockets guys have probably already talked to the FinCon organizer (Philip Taylor) and decided that it was too painful to pursue.

It sounds like a more "virtual" approach building up a lecture library of sorts might be a more financially effective direction, then. Not as much fun, but smarter.

ender

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Re: Any Interest in MMM conference?
« Reply #18 on: April 06, 2014, 05:50:36 PM »
Asking the obvious: what would the primary purpose be? The "sales pitch" so to speak.

If it's to transfer information, I'm not sure what additional benefit there would be over the forums here. I actually really like the forum environment :) I went to a Boglehead meetup but realized that the internet is basically superior for asking advice/discussing for nearly all my needs than spending time traveling to a meetup.

If it's to meet people, would others be interested in traveling? I can't imagine myself personally spending much to travel to meet any of you (no offense intended :P).

arebelspy

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Re: Any Interest in MMM conference?
« Reply #19 on: April 06, 2014, 05:50:58 PM »
It sounds like a more "virtual" approach building up a lecture library of sorts might be a more financially effective direction, then. Not as much fun, but smarter.

Yeah, there's still something special about getting belly to belly.

If that happens though, my vote is to have the speaker prepare a 10 minute speech or so, record the audio into an mp3, then have it Jill illustrate it and compress it to double time.

A library of a dozen or two videos like that on various topics would be pretty neat for beginners.
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arebelspy

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Re: Any Interest in MMM conference?
« Reply #20 on: April 06, 2014, 05:53:21 PM »
Asking the obvious: what would the primary purpose be? The "sales pitch" so to speak.

If it's to transfer information, I'm not sure what additional benefit there would be over the forums here. I actually really like the forum environment :) I went to a Boglehead meetup but realized that the internet is basically superior for asking advice/discussing for nearly all my needs than spending time traveling to a meetup.

If it's to meet people, would others be interested in traveling? I can't imagine myself personally spending much to travel to meet any of you (no offense intended :P).

I'm a big forum fan as well, but meeting people and chatting with them face to face is quite different, and enjoyable (and I say that as a very introverted person).  It may not appeal to you, and that's fine, but a lot of people seem to enjoy it (see: MMM Seattle Camp Mustache that sold 20-30 or so of the 50 spots on the forums first, and then when he posted about it on the main blog it sold out the other 20-30 spots within - literally - hours.. he could probably have sold a few hundred spots).
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ender

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Re: Any Interest in MMM conference?
« Reply #21 on: April 06, 2014, 06:09:10 PM »
I'm a big forum fan as well, but meeting people and chatting with them face to face is quite different, and enjoyable (and I say that as a very introverted person).  It may not appeal to you, and that's fine, but a lot of people seem to enjoy it (see: MMM Seattle Camp Mustache that sold 20-30 or so of the 50 spots on the forums first, and then when he posted about it on the main blog it sold out the other 20-30 spots within - literally - hours.. he could probably have sold a few hundred spots).

Oh trust me I am the last person to disagree on the benefits of in person for meeting people. I've met people I've only known online or via phone and I always have a different relationship going forward, even if only briefly (including you lol).

There's definitely things I'd be curious to discuss with a lot of people here but I'm not sure it would function well in a "presentation" style. More informal conversations and discussions. But everyone's different, too. I am also blessed in that I have quite a few friends locally who are similarly minded about MMM type principles and talk about things with them which helps me a lot.

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Re: Any Interest in MMM conference?
« Reply #22 on: April 06, 2014, 06:20:37 PM »
RebelSpy, see if you can snag us a block of $30/nt hotel rooms at the Imperial Palace or Circus Circus next time we have a Great Recession and I'll be there! 

Seriously, I'd be up for something like this but not sure how much money I'd drop on it.  If there was an east coast venue I might be able to persuade myself to take a short flight or medium to long drive.  Or Vegas.  Mrs. Root of Good really really wants to go to Vegas.  Again. 




RootofGood

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Re: Any Interest in MMM conference?
« Reply #23 on: April 06, 2014, 06:25:18 PM »
Yep.  It worked out all right for the second FinCon (250 attendees) and went very well on the third (350+).  The third FinCon also had a blogger boot camp on the day before the main conference began, so a lot of new bloggers were attracted to the package deal.

"Beginner" doesn't necessarily mean "total noob".  Some attendees would want a talk on basic budgeting, while others want to dig into advanced techniques, while still others want to compare all the different budgeting software/website choices.  Real estate could practically have its own track, as would bicycling and recycling and investing. 

I agree that a recent college graduate with $40K of debt would be unlikely to attend unless the conference was right down the street from their home or workplace...

Hmmm...  maybe I could corner the 30-something FI blogger market.  I don't think there is anyone else out there blogging from that perspective.  :)

Here's an idea for an mmmCon:  piggyback on another conference like FinCon or some low impact/frugal/environmental-ish conference.  Have an extra add on day before/after the official conference.  The biggest problem I see is getting the manpower on the ground to run it and receiving enough revenue from paid guests to break even.  If it was a matter of just a small additional marginal cost of adding 1 more day to a conference and maybe borrowing staff from another conference, it might work out financially. 

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Re: Any Interest in MMM conference?
« Reply #24 on: April 06, 2014, 07:16:24 PM »
I'd be interested in attending. Possibly even speaking, though I'm still very much a beginner in a lot of ways.

I definitely can't travel this year, 2014 maaaybe but we're possibly taking a long cross-country trip piggybacking on a business trip for my DW that year which will eat our travel budget.

I'll honestly be happy if we get another MKE area throw-down come summertime.

ToughMother

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Re: Any Interest in MMM conference?
« Reply #25 on: April 06, 2014, 07:26:52 PM »
Love the idea and would love to go to something like that.  Working in higher ed, time of year matters...

Nords

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Re: Any Interest in MMM conference?
« Reply #26 on: April 06, 2014, 09:18:15 PM »
Asking the obvious: what would the primary purpose be? The "sales pitch" so to speak.
If it's to transfer information, I'm not sure what additional benefit there would be over the forums here. I actually really like the forum environment :) I went to a Boglehead meetup but realized that the internet is basically superior for asking advice/discussing for nearly all my needs than spending time traveling to a meetup.
If it's to meet people, would others be interested in traveling? I can't imagine myself personally spending much to travel to meet any of you (no offense intended :P).
I'm about as introverted as you can get, but I really enjoy hanging out with the military members of FinCon.  We all share common interests in the military and in personal finance, and I learn a lot every time I'm with them. 

The conversations move a lot faster, you meet a lot more people, and you learn more quickly.

I also feel that I've "earned" the privilege of taking a trip since I'm going to be "working" at the conference. 

Yep.  It worked out all right for the second FinCon (250 attendees) and went very well on the third (350+).  The third FinCon also had a blogger boot camp on the day before the main conference began, so a lot of new bloggers were attracted to the package deal.

"Beginner" doesn't necessarily mean "total noob".  Some attendees would want a talk on basic budgeting, while others want to dig into advanced techniques, while still others want to compare all the different budgeting software/website choices.  Real estate could practically have its own track, as would bicycling and recycling and investing. 

I agree that a recent college graduate with $40K of debt would be unlikely to attend unless the conference was right down the street from their home or workplace...

Hmmm...  maybe I could corner the 30-something FI blogger market.  I don't think there is anyone else out there blogging from that perspective.  :)

Here's an idea for an mmmCon:  piggyback on another conference like FinCon or some low impact/frugal/environmental-ish conference.  Have an extra add on day before/after the official conference.  The biggest problem I see is getting the manpower on the ground to run it and receiving enough revenue from paid guests to break even.  If it was a matter of just a small additional marginal cost of adding 1 more day to a conference and maybe borrowing staff from another conference, it might work out financially. 
The 30-something FI blogger group could probably fit in a conference room... or a couple tables at Starbucks Zippys.

Jeremy of GoCurryCracker (formerly JJac at E-R.org), Jim Wang, Jacob Lund Fisker, J.D. Roth, and... ?

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Re: Any Interest in MMM conference?
« Reply #27 on: April 06, 2014, 09:26:49 PM »
The 30-something FI blogger group could probably fit in a conference room... or a couple tables at Starbucks Zippys.

Jeremy of GoCurryCracker (formerly JJac at E-R.org), Jim Wang, Jacob Lund Fisker, J.D. Roth, and... ?

There's that guy that talks about face punches all the time.  What a blow hard.  Face punch this.  Buy an SUV that. 

Nords

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Re: Any Interest in MMM conference?
« Reply #28 on: April 06, 2014, 09:32:23 PM »
The 30-something FI blogger group could probably fit in a conference room... or a couple tables at Starbucks Zippys.

Jeremy of GoCurryCracker (formerly JJac at E-R.org), Jim Wang, Jacob Lund Fisker, J.D. Roth, and... ?

There's that guy that talks about face punches all the time.  What a blow hard.  Face punch this.  Buy an SUV that.
Oh, yeah, him too-- that mustache must give him an air of maturity that's lacking among the other 30-somethings!

RootofGood

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Re: Any Interest in MMM conference?
« Reply #29 on: April 06, 2014, 09:44:50 PM »
There's that guy that talks about face punches all the time.  What a blow hard.  Face punch this.  Buy an SUV that.
Oh, yeah, him too-- that mustache must give him an air of maturity that's lacking among the other 30-somethings!
[/quote]

I think it's just a hipster affectation. 

Mister Fancypants

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Re: Any Interest in MMM conference?
« Reply #30 on: April 07, 2014, 09:08:54 AM »
It comes down the purpose, if you look at the events MMM participates in they probably cost the organizer money, and are donating the proceeds to to charities. They are providing opportunities for people to get together and network and discuss things in person which is a different environment then a blog or the forums.

If you just want straight up advice or presentations venues, then a virtual forum is the best venue (WebEx or MeetingsToGo etc...) as you are generally going to lose money without a "headliner" that is a main draw that causes a sellout. People travel to meet MMM or JCollins or GoCurryCracker etc... They are not banging down doors to meet me and the majority of the others here thinking about a mmmCon based on my online persona.

Local meet ups happen all the time for people who want face time with others which is a good chance to network which is the other reason for a conference, if networking is the main goal, you need a draw to get a lot of people to go or it is doomed from the start or will only attract locals.

I worked in event planning in college as a summer job, the logistics are complicated, I also have experience with the technology you can use now for a virtual conference which is actually pretty easy to implement.

If someone really wants to put something like this together first thing to figure out is what are the goals, information dissemination or networking. It could be both, but the focus should be on one or the other and the 2nd being the bonus.

-Mister FancyPants

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Re: Any Interest in MMM conference?
« Reply #31 on: April 10, 2014, 04:45:40 PM »
I would totally be up for a conference!! However, I live in Hawaii, and in May, I will have made 4 trips to the mainland in 12 months for family events at about $1,000 for flights each (and 2 days of jet lag each way each time). But I would definitely take time off work to do a Skype-like thing during the day.

You could have an in-person conference and stream it live for those who can't be there physically and have a few minutes of every session alloted to take questions from the virtual attenders. Or you could have a virtual conference to assess the viability and get a feel for the logistics of the different levels of sessions (beginner, advanced, etc) and follow up with an in-person conference later in the year or the following year.

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Re: Any Interest in MMM conference?
« Reply #32 on: April 10, 2014, 05:13:35 PM »
An in-person conference and virtual one are mutually exclusive.  If you make streaming available, people won't come to the in-person and it'll be a flop.

If you make it solely virtual, it can work.  If you make it solely in-person, it can work.  Trying a hybrid almost certainly won't.
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