Author Topic: Read EVERY MMM Post (I just finished)  (Read 1115 times)

elvisz

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Read EVERY MMM Post (I just finished)
« on: September 17, 2017, 12:09:21 PM »
I started reading this blog in June. Last month, I decided to read every single article (480 by my count, as of today Sept. 17, 2017) starting with the oldest one. It took me 1-2 hours every day to finish (including following links, taking notes, reading comments, etc.) but today I am pleased to announce that I have now read every single article on MMM!

I realize I'm probably late to the game as far as die-hard fans on this forum are concerned, but who else has done this? What are the biggest changes you've made as a result? And if you haven't I CHALLENGE YOU TO DO SO, BEGINNING TODAY!

In early June, having not been introduced to MMM, I:
- Owned three vehicles (two being SUVs, face punch me now)
- Did not contribute to my TSP (401k)
- Only saved about 40% of my income per month
- Had no passive income streams
- Spent $600+ a month on food
- Took wild gambles on individual stocks
- Consumed electricity and water without any thought of efficiency

As of September 2017, I:
- Own one car, a 2009 Toyota Yaris
- Contribute 25% a month to TSP
- Save 70%+ per month
- Have three passive income streams
- Whittled my grocery bill to less than $300 a month
- Rolled most investments over into the much more sensible VTI ETFs
- Keep my water and electricity use to a minimum, particularly turning the A/C down

Compared to many case studies on here, my situation was not bad i.e. no debt, no second home, no boats, etc. But I've gone from a mid-40s FI age, to a late 20s FI age. And besides the strictly financial improvements to my life, I have gained so much from the more philosophical articles such as ways to embrace discomfort and ways to seek happiness. This blog and forum has had a tremendous impact on my life and I look forward to contributing to this community for a long time!
"Follow your bliss" - Joseph Campbell

Kwill

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Re: Read EVERY MMM Post (I just finished)
« Reply #1 on: September 17, 2017, 12:14:28 PM »
That's great! I read them all a couple years ago. I made a few changes here and there that were helpful, but it wasn't as dramatic as what you've done in a couple months.

MonkeyJenga

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Re: Read EVERY MMM Post (I just finished)
« Reply #2 on: September 17, 2017, 12:40:48 PM »
Compared to many case studies on here, my situation was not bad i.e. no debt, no second home, no boats, etc. But I've gone from a mid-40s FI age, to a late 20s FI age. And besides the strictly financial improvements to my life, I have gained so much from the more philosophical articles such as ways to embrace discomfort and ways to seek happiness. This blog and forum has had a tremendous impact on my life and I look forward to contributing to this community for a long time!

Amazing, way to crush it!

I read (almost) all of the articles and comments a few years ago, in reverse order for efficiency reasons. The more recent posts on the same topics would contain the best, most updated information. If I then encountered something from two years earlier on Betterment or something, I could skip it. I largely skipped the car stuff, since I don't have em and I don't want em.

Once I ran out of articles, I realized there was a forum I could join to continue and deepen my obsession.

Changes in the last few years:

-Upped my savings rate, which was already high, from 70% to 85-90%.
-Went from a possible never-FI future with ever-increasing expenses to FI at 30.
-Learned about HSA's and now max out.
-Took control of my investments back from my dad, reducing a lot of stress in the process.
-Changed everything to buy-and-hold index funds and outperformed his stock-picking/index-switching strategy.
-Stopped drinking alcohol and cut waaay back on restaurants. Cut $700-800 a month here. (These changes started with YMOYL, pre-MMM.)
-Cut cable. (Again, probably YMOYL.)
-Learned how to cook.
-Cut my rent by $900.
-Stopped buying clothes and "stuff" pretty much entirely. Got rid of a lot of unnecessary belongings, too.
-Upped charitable giving.
-Made, like, twenty bucks writing romance novels.
-Made a crap-load of friends all across the world.
« Last Edit: September 17, 2017, 12:55:31 PM by MonkeyJenga »

elvisz

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Re: Read EVERY MMM Post (I just finished)
« Reply #3 on: September 17, 2017, 01:06:06 PM »
Quote
-Stopped drinking alcohol and cut waaay back on restaurants. Cut $700-800 a month here. (These changes started with YMOYL, pre-MMM.)

Awesome! Wow 85-90% savings rate that is incredible! I'm particularly interested in the quitting drinking part though. What were your factors in deciding to do that? Obviously there are huge health and wealth benefits by abstaining but I'd be curious to hear your thoughts and how you did it. That's something I've wanted to do for a while but it's tough when so many of my existing friendships seem to be almost based around drinking. That is, the bar is the default location for a meetup or drinking is the foundation for having people over for a house party.
"Follow your bliss" - Joseph Campbell

MonkeyJenga

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Re: Read EVERY MMM Post (I just finished)
« Reply #4 on: September 20, 2017, 06:20:34 AM »
Quote
-Stopped drinking alcohol and cut waaay back on restaurants. Cut $700-800 a month here. (These changes started with YMOYL, pre-MMM.)

Awesome! Wow 85-90% savings rate that is incredible! I'm particularly interested in the quitting drinking part though. What were your factors in deciding to do that? Obviously there are huge health and wealth benefits by abstaining but I'd be curious to hear your thoughts and how you did it. That's something I've wanted to do for a while but it's tough when so many of my existing friendships seem to be almost based around drinking. That is, the bar is the default location for a meetup or drinking is the foundation for having people over for a house party.

Thanks! Yeah, I spend a lot of time with 20- and 30-somethings in bars. I drink water. I'm fine with it, but most people can't resist joining in. I do suggest alternate activities when I can, or at least places where booze is available but not the ONLY thing to do.

I quit after doing a Your Money or Your Life exercise, where you look at your spending over the last few years. I saw how much went to bars and restaurants and went NNNNOPE. Shut it down.

lexde

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Re: Read EVERY MMM Post (I just finished)
« Reply #5 on: September 20, 2017, 08:49:05 AM »
What passive income streams did you generate?


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elvisz

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Re: Read EVERY MMM Post (I just finished)
« Reply #6 on: September 30, 2017, 09:17:39 PM »
I quit after doing a Your Money or Your Life exercise, where you look at your spending over the last few years. I saw how much went to bars and restaurants and went NNNNOPE. Shut it down.

Well, that's awesome! I hope to follow your example in that regard soon.


What passive income streams did you generate?
I stand corrected, they are not passive incomes but rather side hustles and those are: (except the ETF example below, that one is passive.)

1) I made a Udemy course which has been mildly successful so far (for a first course). I have another course planned.
2) I am getting started with doing an Amazon FBA business.
3) By switching my investments over into ETFs I am starting to receive dividends.
4) I have posted free lance services on Fiverr and Craigslist (though I have yet to generate income from these yet.)
"Follow your bliss" - Joseph Campbell

lexde

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Re: Read EVERY MMM Post (I just finished)
« Reply #7 on: October 01, 2017, 01:34:23 PM »
I quit after doing a Your Money or Your Life exercise, where you look at your spending over the last few years. I saw how much went to bars and restaurants and went NNNNOPE. Shut it down.

Well, that's awesome! I hope to follow your example in that regard soon.


What passive income streams did you generate?
I stand corrected, they are not passive incomes but rather side hustles and those are: (except the ETF example below, that one is passive.)

1) I made a Udemy course which has been mildly successful so far (for a first course). I have another course planned.
2) I am getting started with doing an Amazon FBA business.
3) By switching my investments over into ETFs I am starting to receive dividends.
4) I have posted free lance services on Fiverr and Craigslist (though I have yet to generate income from these yet.)
Very neat! Not to pry too much, but what kind of Udemy course did you start? I've always been interested in that!

elvisz

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Re: Read EVERY MMM Post (I just finished)
« Reply #8 on: October 01, 2017, 06:49:13 PM »

Very neat! Not to pry too much, but what kind of Udemy course did you start? I've always been interested in that!

Hmmm I made a post about my course on the forum last month and wanted to link to that here but it appears to have been deleted...anyway, I'm in the military and I've always cut my own hair so it's a course on how to do that. I'd link it to again but for fear that I violated some forum rule, I won't. If you search "military haircut" on Udemy, it should come up. It was a lot of fun creating it and learning how to use a camera and editing software and all that. If you decide to get started and have any questions, I may be able to help!
"Follow your bliss" - Joseph Campbell

talltexan

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Re: Read EVERY MMM Post (I just finished)
« Reply #9 on: October 03, 2017, 08:20:53 AM »
I don't even know what to say about a person who's saving 40% of their income without ever hearing of MMM or the early retirement set. Are you a buddhist? That could perhaps be the only other explanation I can come up with (someone not buddhist told me buddhists try to save half their income).

elvisz

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Re: Read EVERY MMM Post (I just finished)
« Reply #10 on: October 03, 2017, 09:54:41 AM »
I don't even know what to say about a person who's saving 40% of their income without ever hearing of MMM or the early retirement set. Are you a buddhist? That could perhaps be the only other explanation I can come up with (someone not buddhist told me buddhists try to save half their income).

In all fairness, I have been reading/listening to other finance/early retirement blogs/podcasts for about two years but none have effected my lifestyle like this one. For example, I have long been a reader of FinancialSamurai and listened to Radical Personal Finance podcast.
"Follow your bliss" - Joseph Campbell

iowajes

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Re: Read EVERY MMM Post (I just finished)
« Reply #11 on: October 03, 2017, 10:46:42 AM »
I don't even know what to say about a person who's saving 40% of their income without ever hearing of MMM or the early retirement set. Are you a buddhist? That could perhaps be the only other explanation I can come up with (someone not buddhist told me buddhists try to save half their income).
We were at 50% pre-MMM. We are now at about the same (stupid daycare- it was a lot higher last year), but holding way less cash. These forums have helped me see how stupid that was.

As a couple, it always seemed rational to just live on one income in case we lost the other.

Dicey

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Re: Read EVERY MMM Post (I just finished)
« Reply #12 on: October 03, 2017, 07:54:23 PM »
I was already on the path to what's now known as FIRE when Pete had his MMM epiphany. I found him early, thanks to JLF at ERE. Reading all the posts was easier if you started at the beginning, but it took a helluva lot longer, because you had to wait for Pete to write them. When the Forum came into being, I didn't know what a "Forum" was, so I'm sad to say it took me a while to find my way here. I admit, I find it more nurturing, and I never have to wait for something new. I also love being able to help others find their path to FIRE.

December 5th is my five-year FIRE-versary.
I did it! I have a journal!
A Lot Like This
And hell yes, I am still moving confidently in the direction of my dreams...

Step37

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Re: Read EVERY MMM Post (I just finished)
« Reply #13 on: October 03, 2017, 08:24:18 PM »
I also read every post (okay, not the few that were absolutely US-specific) and just about all of the comments; it took me about ten months during 2015-16 to get through them all. Then I started looking at the forum.

I was already on a decent path (no debt, modest house, not wasteful, etc.) but certainly was inspired to make major improvements. The biggest thing was finding what was needed (thatís it?!?) and HOW to structure things/manage early retirement. Itís not a far-off goal at all - should be ready within a couple of years. Pre-MMM savings rate was probably 30-50% (never really calculated it) and now itís 75-80%.

Youíre crushing it at 25 - hopefully your friends get inspired, too!
"Not wanting something is as good as possessing it." ~Donald Horban

elvisz

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Re: Read EVERY MMM Post (I just finished)
« Reply #14 on: October 04, 2017, 12:28:39 PM »
I was already on the path to what's now known as FIRE when Pete had his MMM epiphany. I found him early, thanks to JLF at ERE. Reading all the posts was easier if you started at the beginning, but it took a helluva lot longer, because you had to wait for Pete to write them. When the Forum came into being, I didn't know what a "Forum" was, so I'm sad to say it took me a while to find my way here. I admit, I find it more nurturing, and I never have to wait for something new. I also love being able to help others find their path to FIRE.

December 5th is my five-year FIRE-versary.

This forum is an incredible resource! It is my first foray into the forum world as well. I find it to be an invaluable supplement to the blog itself. Just yesterday, I saw someone on this forum post about a cell provider (RedPocket) that, by switching, would effectively cut my bill in half.


I also read every post (okay, not the few that were absolutely US-specific) and just about all of the comments; it took me about ten months during 2015-16 to get through them all.
Holy smokes! All of the comments too! That is really impressive. I usually skipped over those but I think I will start reading them with each new release.
"Follow your bliss" - Joseph Campbell

dreams_and_discoveries

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Re: Read EVERY MMM Post (I just finished)
« Reply #15 on: October 14, 2017, 12:40:03 PM »
I'm giving it a go now... finding the app very useful for it.

haypug16

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Re: Read EVERY MMM Post (I just finished)
« Reply #16 on: October 14, 2017, 06:58:20 PM »
I'm going to do this as well. Starting today. I have only read the Forum posts so it's probably a good idea to read the blog posts too!

crazy jane

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Re: Read EVERY MMM Post (I just finished)
« Reply #17 on: October 14, 2017, 07:35:04 PM »
I recommend reading the entire overheard at work thread next.

elaine amj

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Re: Read EVERY MMM Post (I just finished)
« Reply #18 on: October 14, 2017, 11:04:44 PM »
I recommend reading the entire overheard at work thread next.
Good luck with this one - I have been binge reading and am still in 2014.

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JAYSLOL

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Re: Read EVERY MMM Post (I just finished)
« Reply #19 on: October 14, 2017, 11:28:14 PM »
I found MMM in November 2014, and got through all the posts by New Years, and have kept reading as soon as new posts come out.  I did skip a couple like ones on home-brewing as I don't drink, but everything else Ive read. 

stashgrower

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Re: Read EVERY MMM Post (I just finished)
« Reply #20 on: October 15, 2017, 12:02:00 AM »
Nice work, OP, great list. I binge read all the posts when I found MMM.