Author Topic: I have so much money!  (Read 6695 times)

DeniseNJ

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I have so much money!
« on: March 22, 2019, 11:06:03 AM »
Not even sure where to post this and I can't really tell my friends or coworkers, but OMG I have so much money now!  I started reading MMM in November 2018 and now not 6 months later there's so much money in the bank at the end of the month.  Just by looking for ways to save instead of just helplessly giving up my pay I've saved hundreds a month.  Changed car insurance (saving 100), health insruance (500), started shopping at Aldi (500), no eating out and very limited ordering food in (200), and just in general not buying stuff just . . . because . . . I don't even know why I used to buy stuff, but there were boxes from Amazon coming every single day.  I have like 2K more each month with no change in standard of living or quality of life--better really.  Changed cell phone plan (50), cancelled stuff I was paying for and didn't even notice, cancelled dog's health insurance (75).  I actually looked at my calbe bill and noticed stuff we were being charged for that we didn't even have, like HD, and extra cable box.  I started turning off lights when we weren't using them, like at night and during the day--yes we would leave random lights on since I just figured it wasn't making much of a difference.  Started turning down the heat so I wasn't opening bedroom windows to let out heat I was paying for (19% savings over same month last year). 

All the extra in going into my 401K up to the max then into a Roth and I'm so happy and excited now and looking forward to FI.  Instead of being depressed when I looked at our bills, I'm so happy with none of the stress I used to feel about our future.  I'm turning 48 and thought I'd be bummed about it, but now I can't wait to turn 50 and get to put more into my 401K!  Looking forward to biking this spring, maybe to the train into NYC, and saving a few more bucks a day.  Thank you MMM and all of you on these boards.  Inspired!

MrThatsDifferent

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Re: I have so much money!
« Reply #1 on: March 22, 2019, 11:14:14 AM »
Congrats. Thatís exactly how I felt in the beginning, and had to stop kicking myself for not discovering this sooner. Outside of food, I barely buy anything and donít miss it.

BlueHouse

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Re: I have so much money!
« Reply #2 on: March 22, 2019, 11:37:35 AM »
Congratulations Denise!

Your description is exactly what doubters need to read.  All of those changes with no change in quality of life.  So many people think it's not possible, and you're proving it is. 

ender

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Re: I have so much money!
« Reply #3 on: March 22, 2019, 11:45:32 AM »
b-b-b-b-b-b-b-b-b-b-but how will you live????

:-)

Eowynd

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Re: I have so much money!
« Reply #4 on: March 22, 2019, 11:45:41 AM »
So much this!  One of the first things that stood out to me when I started to track my spending was that I was buying so many things for no good reason.  It was mostly just because I had money and that's what you do with money, right?!  It was like I needed permission to stop buying shiny things.  So dumb.

PhrugalPhan

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Re: I have so much money!
« Reply #5 on: March 22, 2019, 12:38:08 PM »
Don't get burned out.  And it's never too late to start.  I paid off my house at your age and 8 yrs later I have saved so much I could retire now if I had to.  I'm only sticking around for a pension I will get in 4 yrs.

I was saving pretty well before MMM.  After reading the blog I put my savings into overdrive.  Stick with it for a few years and you'll be surprised how fast your savings will grow.

DeniseNJ

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Re: I have so much money!
« Reply #6 on: March 22, 2019, 12:55:40 PM »
Thank you all so much.  I did feel at first like I should've started saving years ago and I'm so stupid for wasting all that past money.  But after a few months of seeing it add up, I really know it's not too late and I'm so much more hopeful.  I used to buy stuff to make me happy, but now I'm so happy to be saving money.  More stuff and shiny things weren't relieving anxiety and stress, they were actually causing it!  When I started saving instead and saw a few grand add up, that's when the stress started to fade.  It's not like I don't buy things, but it's not mindless so that at the end of the month you have no idea where your money all went and no control over it.

Nothing helps you sleep like money in the bank.

jojoguy

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Re: I have so much money!
« Reply #7 on: March 22, 2019, 01:00:11 PM »
I'm in the same boat. Since October we've almost doubled our retirement fund. A retirement that started over 15 years before.

Tass

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Re: I have so much money!
« Reply #8 on: March 22, 2019, 01:00:36 PM »
Congratulations!

I started feeling something like this when I passed $20k in investments - "Where did all this money come from?" For the first few months I was really excited about seeing the money I set aside build up, and feeling accomplished that I had accumulated it. But more recently I've left things more on autopilot, and it's almost startling to check the balances. $20k is a decent chunk of money, and it just... piled up while I wasn't looking?

It's a weird but neat feeling.

o2bfree

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Re: I have so much money!
« Reply #9 on: March 22, 2019, 01:24:47 PM »
What a great problem to have, congrats DeniseNJ!! It's amazing how much money can be wasted on things that don't improve our quality of life.

Suelavie

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Re: I have so much money!
« Reply #10 on: March 22, 2019, 01:46:27 PM »
Hi!

Your post is bringing me to post myself after more than a year of reading (I just posted in the "Introduce yourself thread"...)

I feel so just the same. 

But my heart balances between punching myself in the face for all those wasted years (at the money level) and just enjoying the excitement of seing the stash growing now. 

I still have quite a bit of ethical questions though, torn apart between the importance of putting all the chances  on my side to grow the stash since I began so late in life (at 48), doing lucrative investments... meaning investing in a bunch of organizations, among which some are crappy organizations who just don't care about human's rights...) and my personal values that would bring me to invest in Green/Responsible Funds (which bring almost nothing in return....)

peace!

OtherJen

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Re: I have so much money!
« Reply #11 on: March 22, 2019, 03:36:41 PM »
But my heart balances between punching myself in the face for all those wasted years (at the money level) and just enjoying the excitement of seing the stash growing now. 


Same! It's crazy how much of a difference mindful spending (or lack thereof), switches to cheaper grocery stores, fewer nights out, and cutting most unnecessary spending has made. We've paid off all non-mortgage debt, are regularly funding retirement and HSA accounts, and may have enough saved to pay cash for our new roof (if not, the balance will go on a 0% interest card with cash back, which I never would have thought to do before these forums).

I wish we'd started doing this 15 years ago, as newlyweds.

GreenToTheCore

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Re: I have so much money!
« Reply #12 on: March 22, 2019, 06:55:53 PM »
Congratulations!
*internet high five*

and just in general not buying stuff just . . . because . . . I don't even know why I used to buy stuff
This, so much this. It's difficult to explain to folks that you don't feel deprived. They insist that randomly browsing Amazon before bedtime is normal...

May2030

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Re: I have so much money!
« Reply #13 on: March 23, 2019, 08:22:56 AM »
Increased cash flow has allowed me to pay things in advance which has increased cash flow each month  even more. Is saving too much even a problem I ask myself.

ItsALongStory

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Re: I have so much money!
« Reply #14 on: March 23, 2019, 08:54:20 AM »
Love these kinds of threads! Awesome start, keep making smart decisions and you can make miracles happen! Pay yourself first!

Hirondelle

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Re: I have so much money!
« Reply #15 on: March 23, 2019, 08:57:10 AM »
Such great changes you made!! That's awesome!

I feel a similar way. Every month more money piles up in my accounts and I'm on a 'low' salary and I don't feel like I'm missing out on anything at all.

Tyson

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Re: I have so much money!
« Reply #16 on: March 23, 2019, 09:37:11 AM »
Hi!

Your post is bringing me to post myself after more than a year of reading (I just posted in the "Introduce yourself thread"...)

I feel so just the same. 

But my heart balances between punching myself in the face for all those wasted years (at the money level) and just enjoying the excitement of seing the stash growing now. 

I still have quite a bit of ethical questions though, torn apart between the importance of putting all the chances  on my side to grow the stash since I began so late in life (at 48), doing lucrative investments... meaning investing in a bunch of organizations, among which some are crappy organizations who just don't care about human's rights...) and my personal values that would bring me to invest in Green/Responsible Funds (which bring almost nothing in return....)

peace!

Re: the ethical issue, I think of it this way.  If I don't invest with these terrible companies, I won't become FI.  And if I don't become FI then I won't have the time/freedom/funding to go out and take more directed action (campaigning, speaking out, etc...)  I feel like the ability to take direct action is more effective than boycotting the investments. 

Also, IMO, capitalism is a great generator of wealth, but a terrible distributor of wealth.  Taking advantage of these investments forces the system to distribute some of that wealth to us plebes.  Which we can then use to further social/environmental justice and change. 

runningthroughFIRE

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Re: I have so much money!
« Reply #17 on: March 23, 2019, 10:59:52 AM »
Hi!

Your post is bringing me to post myself after more than a year of reading (I just posted in the "Introduce yourself thread"...)

I feel so just the same. 

But my heart balances between punching myself in the face for all those wasted years (at the money level) and just enjoying the excitement of seing the stash growing now. 

I still have quite a bit of ethical questions though, torn apart between the importance of putting all the chances  on my side to grow the stash since I began so late in life (at 48), doing lucrative investments... meaning investing in a bunch of organizations, among which some are crappy organizations who just don't care about human's rights...) and my personal values that would bring me to invest in Green/Responsible Funds (which bring almost nothing in return....)

peace!

Re: the ethical issue, I think of it this way.  If I don't invest with these terrible companies, I won't become FI.  And if I don't become FI then I won't have the time/freedom/funding to go out and take more directed action (campaigning, speaking out, etc...)  I feel like the ability to take direct action is more effective than boycotting the investments. 

Also, IMO, capitalism is a great generator of wealth, but a terrible distributor of wealth.  Taking advantage of these investments forces the system to distribute some of that wealth to us plebes.  Which we can then use to further social/environmental justice and change.

Another thing to consider is that for ordinary investors like us, we are buying stocks on the secondary market.  Unless you are buying stocks in an IPO, the money you pay for the stock does not go to the company - it goes to the previous owner of the stock.

A counterargument to this would be that the people making the decisions for these unethical companies benefit the most from stock prices rising (the founders and executives with stock-heavy compensation packages), and therefore buying the company stock and causing the price to increase is a signal that their behaviors are tolerated or even encouraged as the values of their held stock rises.  However, I don't find that a compelling argument for index investors, since as an indexer you are essentially taking whatever price the market provides while active investors are the ones moving and setting the prices.

In my opinion, optimal index investing (ie not adjusting your index for non-profit reasons like ethics) is at worst a morally neutral strategy, and at best slightly positive for the reasons tyort1 points out above.  It puts you in a better position to make more meaningful choices that align with your values than you otherwise would have the freedom and ability to do.

Just Joe

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Re: I have so much money!
« Reply #18 on: March 23, 2019, 11:55:35 AM »
The fun part is the first few times a big bill comes along and you can pay for it in cash easy peasy. People react funny.


EnjoyIt

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Re: I have so much money!
« Reply #19 on: March 23, 2019, 01:16:51 PM »
The fun part is the first few times a big bill comes along and you can pay for it in cash easy peasy. People react funny.

2 big moments I remember clearly.  1 was going from a net wroth of negative ~$350k from school debt to a net worth of $0.  That was such an amazing feeling.  The second awesome feeling was being able to buy a car brand new for cash.  This was pre-mustachian days and I would not make the same mistake again, but just showing up with a pre-negotiated price and just writing a check was an awesome feeling.

Life is definitely better when we don't clutter our lives with mindless spending.
« Last Edit: March 23, 2019, 03:40:37 PM by EnjoyIt »

aceyou

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Re: I have so much money!
« Reply #20 on: March 23, 2019, 02:43:07 PM »
The fun part is the first few times a big bill comes along and you can pay for it in cash easy peasy. People react funny.

Yeah, I forgot the correct perspective on how rare/cool this is 3 years ago.  I was telling my fellow teachers at the lunch table that I had purchased 5 years of service for my pension and wrote a $20,000 check to the state of michigan.  And that the State informed me that it can only be paid through payroll deductions, and that they were voiding the check.  I was bummed that I couldn't just get it all taken care of. 

They looked at me like I was crazy.  I was like "yeah, I know it really was stupid of me to not check into the payment method more carefully. 

They were like, no, we just don't understand how you were able to write a $20,000 check. 

In my head, I was thinking uh, in a few days I could arrange the ability to write a much bigger check than that if I transferred some investments over to my checking.  They were much more advanced in their career and at a higher part of the pay scale than me. 

At almost any income level, having any savings built up is just a completely foreign concept.

Man I love not buying things!!!

aceyou

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Re: I have so much money!
« Reply #21 on: March 23, 2019, 02:44:07 PM »
Not even sure where to post this and I can't really tell my friends or coworkers, but OMG I have so much money now!  I started reading MMM in November 2018 and now not 6 months later there's so much money in the bank at the end of the month.  Just by looking for ways to save instead of just helplessly giving up my pay I've saved hundreds a month.  Changed car insurance (saving 100), health insruance (500), started shopping at Aldi (500), no eating out and very limited ordering food in (200), and just in general not buying stuff just . . . because . . . I don't even know why I used to buy stuff, but there were boxes from Amazon coming every single day.  I have like 2K more each month with no change in standard of living or quality of life--better really.  Changed cell phone plan (50), cancelled stuff I was paying for and didn't even notice, cancelled dog's health insurance (75).  I actually looked at my calbe bill and noticed stuff we were being charged for that we didn't even have, like HD, and extra cable box.  I started turning off lights when we weren't using them, like at night and during the day--yes we would leave random lights on since I just figured it wasn't making much of a difference.  Started turning down the heat so I wasn't opening bedroom windows to let out heat I was paying for (19% savings over same month last year). 

All the extra in going into my 401K up to the max then into a Roth and I'm so happy and excited now and looking forward to FI.  Instead of being depressed when I looked at our bills, I'm so happy with none of the stress I used to feel about our future.  I'm turning 48 and thought I'd be bummed about it, but now I can't wait to turn 50 and get to put more into my 401K!  Looking forward to biking this spring, maybe to the train into NYC, and saving a few more bucks a day.  Thank you MMM and all of you on these boards.  Inspired!

What an inspiring story!  Welcome and thank you for sharing. 

Malcat

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Re: I have so much money!
« Reply #22 on: March 24, 2019, 06:19:02 AM »
The fun part is the first few times a big bill comes along and you can pay for it in cash easy peasy. People react funny.

Yeah, I forgot the correct perspective on how rare/cool this is 3 years ago.  I was telling my fellow teachers at the lunch table that I had purchased 5 years of service for my pension and wrote a $20,000 check to the state of michigan.  And that the State informed me that it can only be paid through payroll deductions, and that they were voiding the check.  I was bummed that I couldn't just get it all taken care of. 

They looked at me like I was crazy.  I was like "yeah, I know it really was stupid of me to not check into the payment method more carefully. 

They were like, no, we just don't understand how you were able to write a $20,000 check. 

In my head, I was thinking uh, in a few days I could arrange the ability to write a much bigger check than that if I transferred some investments over to my checking.  They were much more advanced in their career and at a higher part of the pay scale than me. 

At almost any income level, having any savings built up is just a completely foreign concept.

Man I love not buying things!!!

I had a similar experience.
I got into a fender bender in December, which my insurance paid for including my rental car, so all I had to pay was the $500 deductible. No big deal, right?

WRONG.

I can't tell you the number of people who were absolutely *horrified* for me that I had the expense of a car accident "right before Christmas!!!" as if it was THE most tragic thing that could ever possibly happen to me.

Most of these people are 40 something homeowners with 6 figure jobs, like, chill guys, it's $500.

TomTX

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Re: I have so much money!
« Reply #23 on: March 24, 2019, 06:29:00 AM »
Don't get burned out.  And it's never too late to start.  I paid off my house at your age and 8 yrs later I have saved so much I could retire now if I had to.  I'm only sticking around for a pension I will get in 4 yrs.

Well, that seems a silly reason to stick around - unless you really enjoy the work.

I hope you are at least using your freedom to "speak truth to power" and decline/ignore the bullshit parts of the job.

TomTX

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Re: I have so much money!
« Reply #24 on: March 24, 2019, 06:29:52 AM »
Yeah, I forgot the correct perspective on how rare/cool this is 3 years ago.  I was telling my fellow teachers at the lunch table that I had purchased 5 years of service for my pension and wrote a $20,000 check to the state of michigan.  And that the State informed me that it can only be paid through payroll deductions, and that they were voiding the check.  I was bummed that I couldn't just get it all taken care of. 

Wow. I am only allowed to buy 3 years of service - and the cost is more like $20k per year.

Linea_Norway

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Re: I have so much money!
« Reply #25 on: March 24, 2019, 07:29:38 AM »
Not even sure where to post this and I can't really tell my friends or coworkers, but OMG I have so much money now!  I started reading MMM in November 2018 and now not 6 months later there's so much money in the bank at the end of the month.  Just by looking for ways to save instead of just helplessly giving up my pay I've saved hundreds a month.  Changed car insurance (saving 100), health insruance (500), started shopping at Aldi (500), no eating out and very limited ordering food in (200), and just in general not buying stuff just . . . because . . . I don't even know why I used to buy stuff, but there were boxes from Amazon coming every single day.  I have like 2K more each month with no change in standard of living or quality of life--better really.  Changed cell phone plan (50), cancelled stuff I was paying for and didn't even notice, cancelled dog's health insurance (75).  I actually looked at my calbe bill and noticed stuff we were being charged for that we didn't even have, like HD, and extra cable box.  I started turning off lights when we weren't using them, like at night and during the day--yes we would leave random lights on since I just figured it wasn't making much of a difference.  Started turning down the heat so I wasn't opening bedroom windows to let out heat I was paying for (19% savings over same month last year). 

All the extra in going into my 401K up to the max then into a Roth and I'm so happy and excited now and looking forward to FI.  Instead of being depressed when I looked at our bills, I'm so happy with none of the stress I used to feel about our future.  I'm turning 48 and thought I'd be bummed about it, but now I can't wait to turn 50 and get to put more into my 401K!  Looking forward to biking this spring, maybe to the train into NYC, and saving a few more bucks a day.  Thank you MMM and all of you on these boards.  Inspired!

This shows so well that everyone has a great savings potential. If we just compare prices on stuff that we need and cut out the crap we don't need, there is so much to safe on a normal salary.

You were mentioning your bank account. I presume you also invest money in index funds? You don't need more money than an emergency fund on your bank account.

StarBright

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Re: I have so much money!
« Reply #26 on: March 24, 2019, 07:46:00 AM »
OP- what a fun post! Yay for you and thanks for sharing!


Regarding the ethical question - Vanguard launched a couple of funds last year for ethical investing. A description: The indexes exclude the stocks of companies producing adult entertainment, alcohol and tobacco products, conventional and controversial weapons (including civilian firearms), fossil fuels, gambling activities, and nuclear power. The indexes also exclude the stocks of companies that do not meet certain diversity criteria, as well as the labor, human rights, anti-corruption, and environmental standards defined by the Ten Principles of the United Nations Global Compact.

Suelavie

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Re: I have so much money!
« Reply #27 on: March 24, 2019, 07:26:55 PM »
Thanks for your answers about my ethical questioning... I really appreciate.

Jessica King

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Re: I have so much money!
« Reply #28 on: March 25, 2019, 06:17:17 AM »
Not even sure where to post this and I can't really tell my friends or coworkers, but OMG I have so much money now!  I started reading MMM in November 2018 and now not 6 months later there's so much money in the bank at the end of the month.  Just by looking for ways to save instead of just helplessly giving up my pay I've saved hundreds a month.  Changed car insurance (saving 100), health insruance (500), started shopping at Aldi (500), no eating out and very limited ordering food in (200), and just in general not buying stuff just . . . because . . . I don't even know why I used to buy stuff, but there were boxes from Amazon coming every single day.  I have like 2K more each month with no change in standard of living or quality of life--better really.  Changed cell phone plan (50), cancelled stuff I was paying for and didn't even notice, cancelled dog's health insurance (75).  I actually looked at my calbe bill and noticed stuff we were being charged for that we didn't even have, like HD, and extra cable box.  I started turning off lights when we weren't using them, like at night and during the day--yes we would leave random lights on since I just figured it wasn't making much of a difference.  Started turning down the heat so I wasn't opening bedroom windows to let out heat I was paying for (19% savings over same month last year). 

All the extra in going into my 401K up to the max then into a Roth and I'm so happy and excited now and looking forward to FI.  Instead of being depressed when I looked at our bills, I'm so happy with none of the stress I used to feel about our future.  I'm turning 48 and thought I'd be bummed about it, but now I can't wait to turn 50 and get to put more into my 401K!  Looking forward to biking this spring, maybe to the train into NYC, and saving a few more bucks a day.  Thank you MMM and all of you on these boards.  Inspired!

That`s a great story! You also inspired me. I personally think that`s it could be a good idea to invest money so that they do not lay locked in the bank for years. I distribute my money into several projects with property crowdfunding, a great way for me to reduce risks. What do you think about it?

Linea_Norway

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Re: I have so much money!
« Reply #29 on: March 25, 2019, 07:14:01 AM »
Not even sure where to post this and I can't really tell my friends or coworkers, but OMG I have so much money now!  I started reading MMM in November 2018 and now not 6 months later there's so much money in the bank at the end of the month.  Just by looking for ways to save instead of just helplessly giving up my pay I've saved hundreds a month.  Changed car insurance (saving 100), health insruance (500), started shopping at Aldi (500), no eating out and very limited ordering food in (200), and just in general not buying stuff just . . . because . . . I don't even know why I used to buy stuff, but there were boxes from Amazon coming every single day.  I have like 2K more each month with no change in standard of living or quality of life--better really.  Changed cell phone plan (50), cancelled stuff I was paying for and didn't even notice, cancelled dog's health insurance (75).  I actually looked at my calbe bill and noticed stuff we were being charged for that we didn't even have, like HD, and extra cable box.  I started turning off lights when we weren't using them, like at night and during the day--yes we would leave random lights on since I just figured it wasn't making much of a difference.  Started turning down the heat so I wasn't opening bedroom windows to let out heat I was paying for (19% savings over same month last year). 

All the extra in going into my 401K up to the max then into a Roth and I'm so happy and excited now and looking forward to FI.  Instead of being depressed when I looked at our bills, I'm so happy with none of the stress I used to feel about our future.  I'm turning 48 and thought I'd be bummed about it, but now I can't wait to turn 50 and get to put more into my 401K!  Looking forward to biking this spring, maybe to the train into NYC, and saving a few more bucks a day.  Thank you MMM and all of you on these boards.  Inspired!

That`s a great story! You also inspired me. I personally think that`s it could be a good idea to invest money so that they do not lay locked in the bank for years. I distribute my money into several projects with property crowdfunding, a great way for me to reduce risks. What do you think about it?

When I had lots of money in my bank account for the first time, I just paid off extra on the mortgage that had 7,5% interest.

After paying that down, I started to invest into expensive stocks, until I read about cheap index funds and then switched to those.

Megma

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Re: I have so much money!
« Reply #30 on: March 25, 2019, 11:45:08 AM »
Isn't crazy how when you stop spending it all the time how fast it can pile up?

My husband and I have conversations wondering where other people spend their money because we just don't get it. We buy everything we want and money just saves itself. People with similar incomes to ours, complain about being broke all the time and weíre like ďhuh? How?Ē I do believe that some are legitimately poor and itís a struggle for them but people in our same economic group and medium-cost area, we donít get it.

RWD

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Re: I have so much money!
« Reply #31 on: March 25, 2019, 12:06:41 PM »
I can commiserate

dougules

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Re: I have so much money!
« Reply #32 on: March 25, 2019, 03:56:20 PM »
Thank you for this!  It's too easy to forget how exciting it is when you're a few years in, especially on a Monday.   

I need to stop and take stock of all the exciting things for us that get lost.
- We've been a $1M household for over a year.
- We got $2300 in Vanguard dividends on Friday.  To state that in another way, we got paid $2300 for nothing.
- My early Monday mornings are numbered (literally.  Today is 307)  The idea of sleeping in every Monday morning just doesn't sound real. 
- There was free cake in the break room (Unrelated but still exciting)




dougules

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Re: I have so much money!
« Reply #33 on: March 25, 2019, 04:05:14 PM »
OP- what a fun post! Yay for you and thanks for sharing!


Regarding the ethical question - Vanguard launched a couple of funds last year for ethical investing. A description: The indexes exclude the stocks of companies producing adult entertainment, alcohol and tobacco products, conventional and controversial weapons (including civilian firearms), fossil fuels, gambling activities, and nuclear power. The indexes also exclude the stocks of companies that do not meet certain diversity criteria, as well as the labor, human rights, anti-corruption, and environmental standards defined by the Ten Principles of the United Nations Global Compact.

I didn't know Vanguard had them. 

Fund managers can accumulate quite a lot of power because they have votes in every company in their index.  Do those fund managers actively use that power to influence companies' actions for good?  One random thing I heard was that the government Norway has a very large sovereign wealth fund from oil money, and it has been using its ownership stakes to pressure companies to be ethical. 

StarBright

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Re: I have so much money!
« Reply #34 on: March 25, 2019, 05:07:51 PM »
OP- what a fun post! Yay for you and thanks for sharing!


Regarding the ethical question - Vanguard launched a couple of funds last year for ethical investing. A description: The indexes exclude the stocks of companies producing adult entertainment, alcohol and tobacco products, conventional and controversial weapons (including civilian firearms), fossil fuels, gambling activities, and nuclear power. The indexes also exclude the stocks of companies that do not meet certain diversity criteria, as well as the labor, human rights, anti-corruption, and environmental standards defined by the Ten Principles of the United Nations Global Compact.

I didn't know Vanguard had them. 

Fund managers can accumulate quite a lot of power because they have votes in every company in their index.  Do those fund managers actively use that power to influence companies' actions for good?  One random thing I heard was that the government Norway has a very large sovereign wealth fund from oil money, and it has been using its ownership stakes to pressure companies to be ethical.

From their website:
https://investornews.vanguard/two-new-vanguard-etfs-for-socially-conscious-investors/

Linea_Norway

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Re: I have so much money!
« Reply #35 on: March 26, 2019, 02:14:42 AM »
Isn't crazy how when you stop spending it all the time how fast it can pile up?

My husband and I have conversations wondering where other people spend their money because we just don't get it. We buy everything we want and money just saves itself. People with similar incomes to ours, complain about being broke all the time and weíre like ďhuh? How?Ē I do believe that some are legitimately poor and itís a struggle for them but people in our same economic group and medium-cost area, we donít get it.

I remember this from my first job with starter income. I once mentioned to a colleague who much we save in half a year. I think that was 20K $. He just looked funny at me and couldn't believe it. We were both childless people living as a couple, renting a place to live and working in a similar job. Then I learned that saving is not as natural for everybody as it was for me.

I still have no idea what his big spending issues were. But from my current colleagues I understand that they spend on family vacations to other countries, living in hotels, having a house cleaner, buying fancy clothes, hairdressers, buying coffee at coffee bars, eating out. All those things that I don't do or only seldom do.

Hula Hoop

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Re: I have so much money!
« Reply #36 on: March 26, 2019, 04:08:57 AM »
We're the same.  We do spend on travel to other countries as that's a big priority for us but we do it as cheaply as possible. 

But I switched cell phone carriers, stopped spending on clothes and eating out, started just doing free or nearly free things around the city for entertainment, started bringing lunch to work and started shopping more at the inexpensive supermarket and the savings pile up. 

Zamboni

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Re: I have so much money!
« Reply #37 on: March 26, 2019, 07:29:18 AM »
Congrats, Denise, it is a great feeling indeed!

dude

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Re: I have so much money!
« Reply #38 on: March 26, 2019, 07:44:41 AM »
Hell yes!  It's amazing how unconsciously we can accept wasting money! When I first found MMM, that was the biggest thing for me, too -- cutting out all that wasteful nickel-and-dime fat. And it made a HUGE difference! Congrats on getting on the right path -- it rocks.

haflander

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Re: I have so much money!
« Reply #39 on: March 26, 2019, 08:06:25 AM »
Great job and loving this thread.

I'm in a similar situation after paying off all my debt and building a healthy FU fund. One month after completing those goals, my regular checking account has grown to 3k. That's despite buying new tires (cheap), flight tickets to Peru (cheap), and maxing out the 401k. I'm waiting to max out the Roth because I'd like to be able to cash flow everything for the Peru vacay in May.

I'm especially inspired by your cost cutting in all of the boring monthly categories you mentioned, I have a lot of room for improvement in those. I'm particularly motivated to change phone plans, as traveling with the SO in a foreign country with a crappy 4-year-old phone makes me nervous. I'd been waiting for the phone to die/be destroyed before looking into a new plan and carrier. Thinking about Google FI for easy traveling (maybe once a year international), but need to do a lot more research.

Camarillo Brillo

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Re: I have so much money!
« Reply #40 on: March 26, 2019, 08:09:14 AM »
This is one of the best posts I've seen in a long time. Big congrats!  It's the exact opposite of posts I see on other sites exclaiming they'd rather live life to the fullest now because they won't be able to enjoy their $$ when they're old and decrepit.

DeniseNJ

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Re: I have so much money!
« Reply #41 on: March 26, 2019, 09:13:37 AM »
Quote
This is one of the best posts I've seen in a long time. Big congrats!  It's the exact opposite of posts I see on other sites exclaiming they'd rather live life to the fullest now because they won't be able to enjoy their $$ when they're old and decrepit.

LOL, that's funny.  As if wasteful anxiety producing spending is lliving life to the fullest!  I do think you should seize your happiness today, not wait for retirement or whatever, since you might never get there.  But that's why I got into MMM--he's very much into living a great life now that doesn't include eating cat food today to eat caviar tomorrow.  Just cut the waste.  Figure out the things that really bring you happiness and invest in those.  50 bucks on take out every Friday for our family of 4 was not bringing me happiness Saturday morning.  It was just making us fat.  Now that's $200 a month I can save and invest to buy time and freedom later with no loss of happiness now.

A very broke semi employed friend and I were at home depot.  They didn't have what I wanted for the price I wanted to pay so I didn't buy anything.  She kept saying to just buy the smaller peg board and get a few pieces.  I said no way, it's too expensive that way, I'd rather go to another store and get the big one..  She said, But you're here now.

Then she bought some plants she doesn't need for her cramped apartment.  She said becasue they will make her happy.  I said, You know what makes me happy?  Money in the bank!