Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 10-26-2015, 08:59 PM   #41
Full time employment: Posting here.
ER Eddie's Avatar
 
Join Date: Mar 2013
Posts: 721
Quote:
Originally Posted by DawgMan View Post
I am obviously new here as well and agree with the premise that we should focus on what matters in FIRE, but as an ER site, I think the focus is on what "machine" you can build to support the things we all personally find important as well as getting ideas/sharing experiences as to how FIRE folks are doing life. It's hard to support what matters without having a financial model in place to make it work. That being said, I sure hope I don't spend 6 hours a day steering at my portfolio just measuring my daily gain (loss).
Oh sure, I understand that. Money is a means to an end (ER), which in turn is a means to another end (the good life, or at least a better one). So naturally, money will be a necessary focus. But I do think we sometimes spend too much energy on the means and not enough on the ends.
__________________

__________________
ER Eddie is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 10-26-2015, 09:39 PM   #42
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Nov 2007
Posts: 7,531
Quote:
Originally Posted by dvalley View Post
I know the scale is tongue in cheek but there's definitely some truth to it! I couldn't stand MMM, just not my type of folks there. Personally I'm shooting for $1.2M-1.4M with a paid for house when I'll be ready to call it quits but that's considered scraping the bottom on ER and nevermind the fact that I'm not even at the half way point yet with only about a 8yr horizon.
You are not alone with barely over a million. Welcome to the poor man's ER club.
__________________

__________________
Retired in 2013 at age 33. Keeping busy reading, blogging, relaxing, gaming, and enjoying the outdoors with my wife and 3 kids (5, 11, and 12).
FUEGO is offline   Reply With Quote
Old 10-26-2015, 10:25 PM   #43
Full time employment: Posting here.
Markola's Avatar
 
Join Date: Nov 2013
Posts: 545
I don't pay much attention to the MMM forums but I am in awe of MMM and his family as a reference point for what is possible regarding low-cost-but-high-quality living on $25,000/ yr. Hats off to them for seemingly optimizing everything in every direction and showing that it can be done. In those frustrating stretches at w#rk when I feel like that fed up Jet Blue flight attendant who ejected the emergency door, grabbed two beers and screamed colorful profanities as he slid to freedom, it is good to be reminded how MMM's lifestyle proves I could quit right now if I really, really, really wanted to [and my wife would let me :-)] During calmer stretches, when I am willing to keep on the war path for a few more years in order to be done-but-not-stressed-about-buying-which-crock-pot wealthy enough, I learn avidly from the many good folks at ER.org who show us the way.


Sent from my iPad using Early Retirement Forum
__________________
Markola is offline   Reply With Quote
Old 10-26-2015, 11:14 PM   #44
Full time employment: Posting here.
Ronnieboy's Avatar
 
Join Date: Feb 2008
Posts: 646
I concur, a crock pot is not only a good wedding gift, they are a good investment, well worth the money.
__________________
I don't want to spend my entire life at work. I deserve more. - Want2retire aka W2R
Ronnieboy is offline   Reply With Quote
Old 10-27-2015, 12:03 AM   #45
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2013
Posts: 5,327
Quote:
Originally Posted by Fermion View Post
MMM is a bit wack. They had a many page thread on if a crock pot is a good investment and worth the money. How much are those things, $10? I think we got like four as wedding gifts.
I had to buy a replacement crock pot recently and I did pay $10 at a thrift shop for a a nice, barely used 6 quart model.

I bought a book at a library sale called How to Live Well on Practically Nothing. (It looks like it has become a cult classic on Amazon right up there with Possum Living.) One of the bits of advice even in that book is not to try to be totally self sufficient like a homesteader in everything you do or your family will be working 15 hours a day make about 40 cents an hour.
__________________
Even clouds seem bright and breezy, 'Cause the livin' is free and easy, See the rat race in a new way, Like you're wakin' up to a new day (Dr. Tarr and Professor Fether lyrics, Alan Parsons Project, based on an EA Poe story)
daylatedollarshort is offline   Reply With Quote
Old 10-27-2015, 03:02 AM   #46
Full time employment: Posting here.
 
Join Date: Apr 2015
Posts: 903
Quote:
Originally Posted by DawgMan View Post
Statistically speaking, aside from major health costs, once many of us (not all), hit a certain age say 70, 75, 80, our ability/desire to do many things we might be more able to do in our 50's (in my case) begins to subside and not cost as much thereby reducing our living expense needs. So my twist on running my SWR will be higher in the earlier yrs, but conservatively will start to drop (probably significantly) by 80 or so.
Check out the various different spending models in I-ORP:
  • Reality Retirement Planning
  • Changing Consumption
  • The Lifecycle of Spending
  • Age Banding
I'm 31 and I'm actually already trying to strike a balance between doing stuff now and saving for FI. While retiring early to go through the bucket list sounds nice, I'm not sure I'd derive as much enjoyment from riding rollercoasters, travel and going to anime/comic/sci-fi conventions when I'm 50. If I still do, awesome. If not, at least I have pictures.

MMM advocates for much earlier retirement which sounds nice in theory but his budget both pre- and post-retirement just wouldn't be sufficient to fund my desired entertainment spending. I like my toys and creature comforts too much to practice extreme frugality. Actually, I'm not even sure I'd qualify as frugal. I just set aside savings first and am lucky my interests run towards relatively affordable books and tech rather than designer clothes/shoes/bags, jewelry and luxury cars.
__________________
hnzw_rui is offline   Reply With Quote
Old 10-27-2015, 07:10 AM   #47
Recycles dryer sheets
 
Join Date: Nov 2011
Posts: 106
Quote:
Originally Posted by Fermion View Post
ER.org sounds about right for you.

If your net worth is sub $50K and you are thinking of early retirement, I would say cheap rv living . com (aka living in a van down by the river)

For net worth around $500K, MMM

For net worth around $1M to $5M, ER.org

For net worth of $5M to $30M Bogleheads

For net worth of $30M+, you shouldn't even be wasting time on a financial forum.
Bogleheads does an unscientific member survey of net worth each year. Here's a summary of this year's results plotting the mean and 95% range by age group of net worth excluding pension and SS. This would indicate most Bogleheads are in the $1mm to $5mm range.
Attached Images
File Type: png Screen Shot 2015-10-27 at 8.03.37 AM.png (21.1 KB, 73 views)
__________________
523HRR is offline   Reply With Quote
Old 10-27-2015, 08:01 AM   #48
Thinks s/he gets paid by the post
 
Join Date: Sep 2012
Location: Seattle
Posts: 2,906
Quote:
Originally Posted by 523HRR View Post
Bogleheads does an unscientific member survey of net worth each year. Here's a summary of this year's results plotting the mean and 95% range by age group of net worth excluding pension and SS. This would indicate most Bogleheads are in the $1mm to $5mm range.
Yes, but the amount of charts, graphs and technical papers used on the Bogleheads site makes the apparent net worth of members seem much higher.
__________________
Fermion is offline   Reply With Quote
Old 10-27-2015, 08:17 AM   #49
Full time employment: Posting here.
ER Eddie's Avatar
 
Join Date: Mar 2013
Posts: 721
Anyone have a similar chart or poll for this group?
__________________
ER Eddie is offline   Reply With Quote
Old 10-27-2015, 08:22 AM   #50
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,134
Net worth Poll
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 10-27-2015, 10:15 AM   #51
Thinks s/he gets paid by the post
 
Join Date: Sep 2012
Location: Seattle
Posts: 2,906
Just to gain a little perspective when you get depressed you don't have $5,000,000 and a $100k pension:

From cheaprvliving.com:

"Hello,
After trying different things and looking at different areas, I'll be in Quartzsite or around there in a week. I'm gonig on two months behind on my car payment, food and money will be real low. Where would a tent tweller living out of his car go to start camping as cheap as possible and close to somewhere I can get a job? Running with about $130 left to my name... so coming in hot. "


Quartsite area in less than a week... no idea where to go or what to do
__________________
Fermion is offline   Reply With Quote
Old 10-27-2015, 10:45 AM   #52
Full time employment: Posting here.
 
Join Date: Sep 2013
Posts: 511
Quote:
Originally Posted by REWahoo View Post
With the gains in equities over the last few years it would be interesting to see an up to date poll. Then I looked at the 2011 thread referenced, saw all the sensitivity and negativity the last poll brought out and realized another NW poll might not be such a great idea.
__________________
stepford is offline   Reply With Quote
Old 10-27-2015, 01:06 PM   #53
Full time employment: Posting here.
ER Eddie's Avatar
 
Join Date: Mar 2013
Posts: 721
Quote:
Originally Posted by REWahoo View Post
Thanks. I'm not so far out of the norm as I thought. Below average, but not too far below. I'm single, with no dependents, with a pretty simple/frugal lifestyle, so my net worth goes farther than most. I'm in good shape, and that's all that matters, really.

I guess maybe I notice it more when people talk about their $3 to $5 million dollar stashes, because it stands out to me, and I end up thinking it's more representative of the group than it is.
__________________
ER Eddie is offline   Reply With Quote
Old 10-27-2015, 01:47 PM   #54
Thinks s/he gets paid by the post
 
Join Date: May 2014
Location: Utrecht
Posts: 2,213
The MMM forums don't do much for me. And I'm firmly in the 30s sub-million camp, with a strong hint of frugal attitude (I spend roughly the same as Mr. MMM, adjusted for a single person).

I liked his earlier articles, but not so much the forum and recent blogs. Hard to explain why.

I think it's mostly the vibe there I get from equating low spending with somehow being a better individual, and the drive to being part of a "mustachian" tribe of sorts. BH on the other hand is a bit too dogmatic and rigid. Threads get closed for a wrong punctuation mark

Here it's flexible and thoughtful people, with a very high degree of wisdom freely shared. I like the age range too, anything from 30s to high 80s. I learn alot from everyone's perspective.
__________________
Totoro is offline   Reply With Quote
Old 10-27-2015, 01:54 PM   #55
Thinks s/he gets paid by the post
 
Join Date: Sep 2012
Location: Seattle
Posts: 2,906
Quote:
Originally Posted by Totoro View Post
BH on the other hand is a bit too dogmatic and rigid. Threads get closed for a wrong punctuation mark
He doesn't joke. Lady Gaga over there shut me down because I had a comma splice.
__________________
Fermion is offline   Reply With Quote
Old 10-27-2015, 01:55 PM   #56
Thinks s/he gets paid by the post
Major Tom's Avatar
 
Join Date: Nov 2009
Location: SF East Bay
Posts: 3,129
+1 to everything you said Totoro. The almost cult-like atmosphere around the whole "mustachian" thing kind of turns me off. However, I am very much not a "joiner" so, as they say, "consider the source"
__________________
ER, for all intents and purposes. Part-time income <5% of annual expenditure.
Major Tom is offline   Reply With Quote
Old 10-27-2015, 02:04 PM   #57
Recycles dryer sheets
 
Join Date: Dec 2011
Location: Chicago area
Posts: 427
Quote:
Originally Posted by StuckinCT View Post
I just wish there were more people like me at 44, but as time goes along more will join.
There are a few of us on here who have retired in our 40's with good sized portfolios and kids still in school.

I retired at 43 after sell a business. That was 3 years ago [now 46] and it has been a rollercoaster. PM me if you want any private advice or experience shares.

Sent from my SM-T237P using Early Retirement Forum mobile app
__________________
AnIntentionalRoad is offline   Reply With Quote
Old 10-27-2015, 02:51 PM   #58
Moderator Emeritus
 
Join Date: May 2007
Posts: 11,044
Quote:
Originally Posted by Totoro View Post
The MMM forums don't do much for me. And I'm firmly in the 30s sub-million camp, with a strong hint of frugal attitude (I spend roughly the same as Mr. MMM, adjusted for a single person).

I liked his earlier articles, but not so much the forum and recent blogs. Hard to explain why.

I think it's mostly the vibe there I get from equating low spending with somehow being a better individual, and the drive to being part of a "mustachian" tribe of sorts. BH on the other hand is a bit too dogmatic and rigid. Threads get closed for a wrong punctuation mark

Here it's flexible and thoughtful people, with a very high degree of wisdom freely shared. I like the age range too, anything from 30s to high 80s. I learn alot from everyone's perspective.
I agree. Demographically, I feel closer to the MMM crowd but I prefer the ER.org vision of retirement. I also think that the tone of the conversation as well as the content is vastly superior here. BH is way too serious but a good source of information. I just wish there were more of us FIREes in their 30s and 40s here.
__________________
FIREd is offline   Reply With Quote
Old 10-27-2015, 02:57 PM   #59
Full time employment: Posting here.
 
Join Date: Aug 2014
Posts: 555
Quote:
Originally Posted by Fermion View Post
Don't feel out of place here! The scales were just tongue in cheek and very arbitrary. We have very much toward the low end of the scale I posted for ER.org but it is more by choice. We chose life over money.

You left off the really frugal types--EarlyRetirementExtreme.com. Yep, the rice and beans crowd!

I read them all. Don't fit in with any of them. Never expect to have $4M. Never liked living on rice and lentils. Like to attend shows that come to town and going to college theater events. Own a gas hog of a Jeep (actually two of them and stripped a third for parts!).

Bottom line every one of them has something to say and useful information. Take what you need and leave the rest.
__________________
ArkTinkerer is offline   Reply With Quote
Got kicked out of Mr Money Mustache...
Old 10-27-2015, 08:49 PM   #60
gone traveling
 
Join Date: Oct 2007
Posts: 1,135
Got kicked out of Mr Money Mustache...

Quote:
Originally Posted by ER Eddie View Post
Also, MMM seems to have a lot of people in their 30's or so, aspiring to financial independence, which is great, but at 54, I prefer an older crowd.

I will probably continue to skim both of them, but I think I prefer the atmosphere and posting style at ER a bit more.

My conclusion early on was that MMM were mostly all just aspiring... Few if any had actual proven success. Even mr mmm himself writes a blog and makes some coin on that web site too .... And he is on here and in this very thread if I'm not mistaken !

By contrast those here at RE were doing or already are done and FIREd. I Preferred to take my advice from those who are doing or already did it.... That was several years ago.

Result: I FIREd at 45.... Earlier this year. In part I can Thank RE.org.

Someone else mentioned penny smart and pound foolish. That hit the nail on the head once I read MMM. Lots of dreamers over there ... Nothing wrong with dreaming but ...
__________________

__________________
papadad111 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Meet Mr. Money Mustache obgyn65 Other topics 136 05-14-2013 06:07 PM
Anybody else get kicked out of the club? clifp FIRE and Money 55 06-08-2009 02:05 PM
Easter Bunny Kicked Out Of St. Paul! Danny Other topics 5 03-24-2006 03:17 PM

 

 
All times are GMT -6. The time now is 12:25 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.