Have you ever been fat and happy?

[hybrid]

I've been reading through the post titled "Have you ever been poor before" and it got me to thinking about the other side of the equation for Mustachians who weren't always Mustachians.  If being poor means not having means to waste in the first place, being fat and happy to me means enjoying middle class abundance to the point where you just got too damned sloppy with your money - even if you are pretty good overall with your money.  I used to pat myself on the back for building a nice little nest egg over time, staying within my means, prepaying on the mortgage, even buying a rental, but I also readily assumed I would work until 70 (another 23+ years) to support my very comfortable lifestyle.

And then I stumbled acrosss MMM in the WaPo.....  Holy wake-up call Batman.  I had to take a look in the mirror and question exactly where I was both financially and physically.  Overweight.  Wasting lots of money.  Assuming I would work and work and work at a job that is pretty comfortable and enjoyable overall but doesn't give me the warm and fuzzy.  Not in the least bit motivated to do anything different because I was, well, fat and happy.

So my question is, did others have a similar experience where they thought they were doing pretty well but woke up to discover one day that they had been playing in the minor leagues all along?

[AccidentalMiser]

Yes.  Your situation describes my previous financial situation perfectly.  Damned sloppy.

There's another word that typically appears between the words "fat" and "happy": dumb.  I've been dumb for years, MMM has helped punch some sense into me.  I'm still not "dialed in" as I should be, but I'm getting there.

Also, I'd like to draw a distinction between "dumb" and "ignorant";  I have always been knowledgable about money and investing.  It's easy to get drawn in to the "more is better", spend and consume, work for the weekend mindset.  As my income rose, so did my expenses.  I didn't really think that much about it.  Dumb.

[arebelspy]

I'd describe myself as fat and happy now (though I'm not fat by any physical standard, <10% body fat), though that obviously doesn't fit with your definition of sloppy with money.

Clearly the term has different connotations for the two of us.

[hybrid]

I'd describe myself as fat and happy now (though I'm not fat by any physical standard, <10% body fat), though that obviously doesn't fit with your definition of sloppy with money.

Clearly the term has different connotations for the two of us.

Fair enough.  By that turn of phrase I meant just too damned comfortable for your own good (as in fat and not caring much about it because you are happy).  Which I clearly was, I was in a good place before MMM, just not as good as I would like to be.  It's nice to have a fire under me for a change.  Wondering how many other folks found this a little later in life and had a Eureka! moment...

[Joet]

I agree with you OP, I joined about that time and have found myself trying to figure out what "it" is that I'm truly interested in. Will let you know if I find out. Till then controlling (?? trying?) expenses is at least a good start.

[Kriegsspiel]

What does being fat have to do with it?

[Crash87]

I'm sure you can be both fat and happy, but I think you'd be happier if you kept healthy

[Bigote]

I definitely was.  I was making so much money during the boom years on Wall Street that I could spend without thinking and still save a lot.  The first time I started to track my spending the 'cash' category - basically untracked spending - was over 3k per month.  But when you have annual bonuses in the high six figures and a high base salary as well, it was easy to not care.

[hybrid]

What does being fat have to do with it?

In my example, I was unmotivated to do the necessary work to get back in shape because so many other things were going well enough.  I had become, "Eh, what the hell.  Life is good.  See, I've got all the t-shirts that say so...."  ;-)  In general, I can't help but notice that my demographic and the population at large is really struggling with its weight.  Saving money and FI are all well and good, but when I saw a way to save money, move toward FI, AND incorporate a mechanism (cycling from work to save money and get exercise) to improve my health, it was my Eureka! moment.  In all honesty, if I was already in good shape like Arebelspy I doubt I would have been quite as motivated as I am now.  In a perverse way having more to accomplish has given me a greater sense of urgency.

[Cecil]

I was in that position until about four months ago.

I was an avid reader of ERE, MDJ, etc in university and shortly after graduating (2006-2008), then I got a job paying 60k, stopped paying attention to my finances and crept up to spending 45-50k/year combined with wife.

I woke up in February this year when I mentioned in casual conversation "Yeah, I plan on retiring around 40 or so". I came home, re-evaluated the numbers, and realized I wasn't even close to on track. Posted my budget, had it ripped apart by you helpful folk, and have since dropped our spending level by about $1000/month without feeling deprived in any way.

[NumberCruncher]

I'm sure you can be both fat and happy, but I think you'd be happier if you kept healthy

I'd posit you can be both fat and healthy, too!

In many cases you'll see a correlation between obesity and other health concerns, I'll grant you that, but it's one of those things that's depends on the individual. Then of course there's the opposite - "skinny fat" where you can be skinny and not at all healthy.

To the OP's post - Yes, I've been that middle-class comfortable person. I just assumed I'd save and maybe "retire early" at 55 or something. I'd look at things I definitely didn't need like fancy clothes, etc, and think "I make all this money - why not spend it?" I just assumed I'd buy a new car, etc.

[ace1224]

yep.  totally thought i was doing good until i found you guys.  now i realize i was sucking.  i'm getting better though.  i don't post a lot but i do read almost all the posts and compared to you guys i feel like i'm going to graduate last in the class.  but i just tell myself that the guy that graduates last from med school still gets called doctor! lol.

[arebelspy]

yep.  totally thought i was doing good until i found you guys.  now i realize i was sucking.  i'm getting better though.  i don't post a lot but i do read almost all the posts and compared to you guys i feel like i'm going to graduate last in the class.  but i just tell myself that the guy that graduates last from med school still gets called doctor! lol.

That's right, and the guy that hits FI last is still financially independent!

Compare that to most people, who have to continue working forever and exist on small social security stipends.

Definitely better to be last than not graduate at all.  ;)

[hybrid]

I just tell myself that the guy that graduates last from med school still gets called doctor!

That's a classic...  Yeah, I may very well end up working until 60 or even later due to a late start (and maybe sooner, it's all a long ways off), but 60 is a damned sight better than 70.

[pachnik]

Hi.  I am very new here and i am in the same position as hybrid.   

I am 49 years old and I always invested 10% of my income into an RRSP.  So this is good for a retirement at 65 or a few years sooner. (I am in Vancouver, Canada and not sure what the American equivalent to an RRSP is called - Roth maybe?)   I guess I was fairly "fat and happy" because compared to several people I know, at least I was putting aside 10% so I have some feeling of safety.  For this I am grateful.

In my position age-wise, optimizing what I do have makes a lot of sense so even if I got here late, MMM is still very worthwhile.

Anyway, I have already made a few small changes and they add up to about $75/month.  More changes to come once my employment situation straightens out.   

I am really enjoying the positive community here on the forum too.

[odput]

I would say I was fat and happy until I got laid off almost 3 weeks ago.  Fortunately I had found MMM a few months before and was starting to make small adjustments here and there.  After the job loss, my wife and I really cracked down on our expenses and are now doing perfectly fine on her salary alone.  We had always done "well" (by normal financial advisors standards, 20% savings, right sized house, no debt besides school and house), but now when I do get another job the majority of my new salary will go toward paying off school loans and savings, bringing FI a lot closer than it ever would have been