Author Topic: Are their any mastermind groups around Financial Independence?  (Read 6852 times)

meteor

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Are their any mastermind groups around Financial Independence?
« on: February 20, 2014, 11:58:18 AM »
I just listened to the passive income podcast talk about mastermind groups.  I'm curious if anyone has done one and if their are any on this forum?

Eric

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Re: Are their any mastermind groups around Financial Independence?
« Reply #1 on: February 20, 2014, 12:40:50 PM »
There are a lot of FI masterminds around here.  We can't let you join the group though, as it requires 500 posts.  Once you hit that 500th post, you'll be sent a special password that will unlock all the secrets to the universe.  It's pretty sweet.

MOD EDIT: ABOVE SECRETS REDACTED.
« Last Edit: February 20, 2014, 01:20:53 PM by arebelspy »

Eric

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Re: Are their any mastermind groups around Financial Independence?
« Reply #2 on: February 20, 2014, 05:08:30 PM »

matchewed

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Re: Are their any mastermind groups around Financial Independence?
« Reply #3 on: February 20, 2014, 05:11:22 PM »
Don't listen to Eric. There is no mastermind group, the Stonecutters do not exist, and the lizardmen are not heads of the Stonecutters who definitely do not exist.

happy

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Re: Are their any mastermind groups around Financial Independence?
« Reply #4 on: February 20, 2014, 05:37:16 PM »
Thank heavens for duct tape.

meteor

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Re: Are their any mastermind groups around Financial Independence?
« Reply #5 on: February 20, 2014, 05:47:40 PM »
Somehow I think we are talking about 2 different things...a mastermind group are people who meet weekly and support each other in a specific goal.

http://www.feelgoodgirl.com/node/23

happy

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Re: Are their any mastermind groups around Financial Independence?
« Reply #6 on: February 20, 2014, 06:13:31 PM »
Umm 3 things actually coz some of us are just trying to be funny.

arebelspy

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Re: Are their any mastermind groups around Financial Independence?
« Reply #7 on: February 20, 2014, 06:14:39 PM »
 
Somehow I think we are talking about 2 different things...a mastermind group are people who meet weekly and support each other in a specific goal.

http://www.feelgoodgirl.com/node/23

We're aware, we were just foolin' around.  ;)
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Shor

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Re: Are their any mastermind groups around Financial Independence?
« Reply #8 on: February 20, 2014, 06:16:22 PM »
I personally enjoy perusing the Journals which are tailored to a specific person's experience,
Or joining in on a 'Throw Down the Gauntlet' challenge, note some people have insane Thrift muscles!

Then of course, there is the silent but ongoing Mustachian Bike Challenge! Which is our ongoing struggle to save the World!.. Two wheels at a time!

If you like, the whole forum is one gigantic mastermind group looking to help push you to be the best you there can be!

meteor

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Re: Are their any mastermind groups around Financial Independence?
« Reply #9 on: February 20, 2014, 06:32:51 PM »
Ok Smartypants.

I just heard about them.  The podcast was really interesting. 
http://www.smartpassiveincome.com/millionaire-mastermind-groups-jaime-tardy/

Made me wonder what it was like to do it.

Nords

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Re: Are their any mastermind groups around Financial Independence?
« Reply #10 on: February 20, 2014, 08:27:41 PM »
Ok Smartypants.
I just heard about them.  The podcast was really interesting. 
http://www.smartpassiveincome.com/millionaire-mastermind-groups-jaime-tardy/
Made me wonder what it was like to do it.
I haven't listened to that podcast yet but Pat's talked about the components of a good MM group before.

He recommends a lot of structure:  weekly gatherings (in person or via Skype or Hangout), host rotates to a different member each week, limit of five minutes per presentation, each member's specific goals laid out and addressed next week, max meeting time of an hour.  It's similar to Y Combinator's Tuesday-evening dinners for their startup entrepreneurs:  they have specific goals, they made themselves publicly accountable to the rest of the group, and they know that they'd better have something to show before that next meeting.

There are a lot of mastermind groups among personal-finance bloggers, but they're focusing on the aspects of achieving FI like websites, social media, building an audience, marketing, and so forth.  I doubt that anyone is laying out their asset allocation goals or researching SWRs. 

Arguably you're in the world's largest (and least organized?) FI mastermind group right here.  Or you could form your own chapters like the "groups" on Early-Retirement.org.  (I used a group there to collect advice & stories for the book, and then I used it to publish draft chapters for the group's critique.)  You could even use the posters in your geographic area for an online or an in-person mastermind group. 

One wrinkle would be what a mastermind member does after they reach FI.  Do they stay in the group and mentor other members?  Do they drop out and disappear to live happily ever after?  Or do they just spend all day composing long posts on Internet forums?

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odput

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Re: Are their any mastermind groups around Financial Independence?
« Reply #12 on: February 21, 2014, 06:52:20 AM »
Or do they just spend all day composing long posts on Internet forums?

I couldn't stop myself from laughing at this even while sitting in a silent office...well played sir.  Well played

arebelspy

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Re: Are their any mastermind groups around Financial Independence?
« Reply #13 on: February 21, 2014, 08:03:40 AM »
Sorry for the earlier joking, OP.

To get more serious with your question, yes, Mastermind groups are a pretty neat idea.  Iron sharpens iron, and all that.

I have a folder in Evernote titled "Mastermind Group."

Here is a useful PDF if you're thinking about starting your own group.  http://liveyourlegend.wpengine.netdna-cdn.com/wp-content/uploads/downloads/2013/02/How-to-Create-Your-Ultimate-Mastermind-Team-Workbook-Final2.pdf

Personally, FI would be a minor component of my ideal Mastermind Group.
I am a former teacher who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and am now settled with three kids.
If you want to know more about me, this Business Insider profile tells the story pretty well.
I (rarely) blog at AdventuringAlong.com. Check out the Now page to see what I'm up to currently.

jordanread

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Re: Are their any mastermind groups around Financial Independence?
« Reply #14 on: February 21, 2014, 08:23:57 AM »
If people want to do something like that, I created a Google+ Community of Mustachians. Anyone can ask to join. I don't think much discussion would go on there, since the forums are pretty awesome, but it does make life easier to do hangouts and stuff. I wouldn't mind a bi-weekly gauntlet challenge, or just a sharing thing.
gplus.to/Mustachians

arebelspy

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Re: Are their any mastermind groups around Financial Independence?
« Reply #15 on: February 21, 2014, 08:31:34 AM »
If people want to do something like that, I created a Google+ Community of Mustachians. Anyone can ask to join. I don't think much discussion would go on there, since the forums are pretty awesome, but it does make life easier to do hangouts and stuff. I wouldn't mind a bi-weekly gauntlet challenge, or just a sharing thing.
gplus.to/Mustachians

A similar idea was proposed in this thread: https://forum.mrmoneymustache.com/welcome-to-the-forum/online-mustachian-buddy-wanted/
I am a former teacher who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and am now settled with three kids.
If you want to know more about me, this Business Insider profile tells the story pretty well.
I (rarely) blog at AdventuringAlong.com. Check out the Now page to see what I'm up to currently.

jordanread

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Re: Are their any mastermind groups around Financial Independence?
« Reply #16 on: February 21, 2014, 08:41:14 AM »
If people want to do something like that, I created a Google+ Community of Mustachians. Anyone can ask to join. I don't think much discussion would go on there, since the forums are pretty awesome, but it does make life easier to do hangouts and stuff. I wouldn't mind a bi-weekly gauntlet challenge, or just a sharing thing.
gplus.to/Mustachians

A similar idea was proposed in this thread: https://forum.mrmoneymustache.com/welcome-to-the-forum/online-mustachian-buddy-wanted/
Are you saying that I should post this in there, too? Or that it's kind of already done via PMs and what not?

arebelspy

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Re: Are their any mastermind groups around Financial Independence?
« Reply #17 on: February 21, 2014, 08:58:24 AM »
No, I'm not saying either of those things.

Do whatever floats your boat.  :)

If you do decide to set something like that up, keep in mind though that G+ is the least used social network of Mustachians, and maybe not the best method for this.  :)
I am a former teacher who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and am now settled with three kids.
If you want to know more about me, this Business Insider profile tells the story pretty well.
I (rarely) blog at AdventuringAlong.com. Check out the Now page to see what I'm up to currently.

jordanread

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Re: Are their any mastermind groups around Financial Independence?
« Reply #18 on: February 21, 2014, 09:04:34 AM »
No, I'm not saying either of those things.

Do whatever floats your boat.  :)

If you do decide to set something like that up, keep in mind though that G+ is the least used social network of Mustachians, and maybe not the best method for this.  :)

Ah, I was thinking more along the lines of hangouts. It's the only one I use, so I did what I can do. Hangouts have been invaluable to me, plus, since I don't have any other social networking stuff, it's the only actual action I could take here at work. We'll see if people like it. It could be a raging success, or a fizzle out, at which point we'd be right where we are now. No losses :-)

Nords

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Re: Are their any mastermind groups around Financial Independence?
« Reply #19 on: February 22, 2014, 08:38:19 PM »
Personally, FI would be a minor component of my ideal Mastermind Group.
And perhaps a major component of its credibility...

arebelspy

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Re: Are their any mastermind groups around Financial Independence?
« Reply #20 on: February 22, 2014, 09:21:19 PM »
Personally, FI would be a minor component of my ideal Mastermind Group.
And perhaps a major component of its credibility...

True. I'd expect most to be past that, either through purposeful completion or irrelevance.
I am a former teacher who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and am now settled with three kids.
If you want to know more about me, this Business Insider profile tells the story pretty well.
I (rarely) blog at AdventuringAlong.com. Check out the Now page to see what I'm up to currently.