Mustachians, advise please!
DW's brother, my Brother-in-Law (BIL), is a hardworking, ~35 yr old, employed, wealthy consumer working in international development. He laughs at Mustachianism b/c 1) he will work until the day he dies, 2) money = comfort, 3) being wealthy (which he is based on his ~$150K income and ~$120K expenses) means not thinking about money, and 4) what would he do if he didn't work?
The arguments I have used (below) have not convinced him that paying attention to expenses is powerful.
- Frugality means spending to your priorities, which requires that you know/develop your priorities, which leads to greater happiness, better relationships, and self-improvement
- Requirement for income = requirement for job = danger if a job is not available = taking a job you may not love
- Requirement for income = requirement for job = living according to someone else's priorities
- Post FIRE, you can do what you want, when you want
- Thinking about money AHEAD of the wave prevents worrying about money AFTER the wave
Who else has run into this situation? Any other strategies to try?
He spends most of his wealth on travel, restaurants, and high-end gadgetry, with sporadic purchases of books he doesn't read, entertainment, and gifts for friends and family. I must repeat: he does not want to think about money! It's not super imperative that he buys into FIRE or MMM b/c currently he has high income, high net worth, high earning potential, and high interest in work; however, I would like to plant a seed that may blossom to shade him from the scorching sun of debt, demoralizing work, and hyperconsumption. One example of why he may actually benefit from assistance: until I got him into some Vanguard ETFs, he had ALL his wealth sitting in a checking account! W...T...F?!
Thanks to all!