Author Topic: MMM in US News  (Read 5276 times)

Rural

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MMM in US News
« on: December 25, 2013, 05:14:10 AM »

Russ

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Re: MMM in US News
« Reply #1 on: December 25, 2013, 06:26:30 AM »
Short and to the point, with no sensationalism. I like it.

Thanks for sharing

iamlindoro

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Re: MMM in US News
« Reply #2 on: December 25, 2013, 08:34:19 AM »
And in a "like a car accident, it's so bad you can't look away and have to read every one" way, you can read the Yahoo reprint with hundreds of bitchy comments:

http://finance.yahoo.com/news/secret-math-behind-early-retirement-160516428.html

eyePod

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Re: MMM in US News
« Reply #3 on: December 25, 2013, 10:15:40 AM »
I love how people don't like this kind of stuff. If it's pissing off everyone, then it makes me believe it's the right thing to do. 

Jamesqf

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Re: MMM in US News
« Reply #4 on: December 25, 2013, 11:22:13 AM »
...you can read the Yahoo reprint with hundreds of bitchy comments:

Not all are bitchy.  I could almost have written this one myself:
Quote
You don't need to explicitly "save for retirement" in order to live below your means. We use $9/mo prepaid cellphones because $50-80/mo is ridiculous. We eat dinner at home because going to a restaurant 3-5 days a week is ridiculous. We're paying in-state college tuition because private schools are ... not cost effective. It's not because we're trying to meet any particular saving goals, saving is the byproduct of not wasting money. And without really thinking about it, at age 55 we wound up with 8 times our gross income in cash net worth (not including home equity).

This is really the key: "saving is the byproduct of not wasting money".

vern

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Re: MMM in US News
« Reply #5 on: December 25, 2013, 08:24:39 PM »
I love how people don't like this kind of stuff. If it's pissing off everyone, then it makes me believe it's the right thing to do.

Exactly!

Some more gold from the comments...

Quote
Things don't just happen. I personally hate working for other people, but at 27 I decided to bite the bullet and accept a position with the Feds which offered a pension and a 401k with 5% matching on my salary.
 30 years later, I retired with a 90% expected income between SS, pension, and 401k, as well as affordable group health and life insurance. To continue working was just a waste of time. The system is set to have you stuck in it, but if you do the math and plan, you beat it. A penchant for real estate investment, or stock investment runs you thru dips in the economy and inflation woes.
 I suggest to young people to find any job with a pension and 401k no matter the salary. This gives you cash to live a normal life, a retirement, and offsets lay-offs which are standard in the private sector. A spouse in the same game plan makes it all easy; not that getting up and going to work is easy, the last five years have been hell, since your body just doesn't like getting up at 5 am. But after retiring 3 weeks, the effects of 30 years in an unnatural reality have dispersed, and I can go back to the proactive life I had after college, enjoying my spoils.
 Investing in seminars is worth every penny. You learn to think outside the box financially, which is required if you don't want to fall for the money-draining drops in the economy which most people fall for.
 I found that University study is great for your inner sanity and a must, but is lacking for financial advice.
 Every penny I spent on financial seminars for controlling my own resources was worth it. People's advice mostly drains your money, but learning to manage it yourself is the only profitable way to proceed.
 I have retired at 57 and never have to work for someone else again. I do however spend 4 hours a day at making money, and will continue to do so until I hand it off to my children.
 Unfortunate health turns cannot be avoided, but good health care helps to avoid bankruptcy.
 Perhaps the greatest drain on finances is American's idea that they need the newest consumer goods, restaurants, and that useless dream home in a high tax neighborhood. All ploys to steal your money.
« Last Edit: December 25, 2013, 09:02:17 PM by vern »

iamlindoro

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Re: MMM in US News
« Reply #6 on: December 25, 2013, 08:33:25 PM »
Not all are bitchy.  I could almost have written this one myself:

Indeed, sometimes when MMM appears in the news it's exclusively negative remarks, but you do have some sensible comments.  It seems to depend on the source of the article-- financial sites tend to have a chorus of agreement-- Yahoo and other "casual" news sites tend to have a bunch of complainypants (though obviously nothing is absolute).
« Last Edit: December 26, 2013, 12:23:59 PM by iamlindoro »

odput

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Re: MMM in US News
« Reply #7 on: December 26, 2013, 12:04:56 PM »
And in a "like a car accident, it's so bad you can't look away and have to read every one" way, you can read the Yahoo reprint with hundreds of bitchy comments:

I love it when the internet retirement police come out in full force, always good for a laugh.

frugalman

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Re: MMM in US News
« Reply #8 on: December 26, 2013, 01:06:37 PM »
The US News Article was written by a gentleman named Rob Berger, who also on Dec 18, 2013 did a one hour 11 minute Podcast with Mr. Money Mustache. It is a great podcast - very in depth, the amount of time allotted allowed them to delve into detail I have not seen or heard before.

https://itunes.apple.com/us/podcast/the-dough-roller-podcast/id743822914

Look for DR 007 episode

Eric

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Re: MMM in US News
« Reply #9 on: December 26, 2013, 01:16:06 PM »
The US News Article was written by a gentleman named Rob Berger, who also on Dec 18, 2013 did a one hour 11 minute Podcast with Mr. Money Mustache. It is a great podcast - very in depth, the amount of time allotted allowed them to delve into detail I have not seen or heard before.

https://itunes.apple.com/us/podcast/the-dough-roller-podcast/id743822914

Look for DR 007 episode

Thanks, I'll give it a listen.  Looks like you can listen to it right through his website if you're not an iTunes fan:

http://www.doughroller.net/retirement-planning/how-to-retire-at-age-30-with-mr-money-mustache/

abhe8

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Re: MMM in US News
« Reply #10 on: December 26, 2013, 09:06:51 PM »
well, the article is so light, does not really say much of anything?

but i do love some of the comments:

"it is unrealistic to think you can save 30-40% and especially 50%. For most people just the everyday cost of living reduces the amount you can save and that's not talking about unnecessary expenses. "

yes...so most people dont' want to live on 50percent of their income. and they say it is "necessary" to spend all of their money. choices, choices people! take some responsibility for your own.

"It only takes a few hundred dollars a month, starting at an early age, receiving an average rate of return, to accumulate 1 million at 65. Nothing drastic has to happen. It's just a matter of making it a priority. Unfortunately, MOST Americans do not make it a priority. We like our new cars and SPENDING. We like to travel, spend on sports and hobbies, impress the women, and have a good time. There is no secret to accumulating money. Simple math tells it all. MOST people are just not interested."

amen brother.