Got kicked out of Mr Money Mustache...

[6miths]

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.

I don't know about the cutoffs. Certainly BHs is quite different than here but their fairly exhaustive anonymous survey doesn't have many people with NW above 5M.

 

[petershk]

I'm reasinably similar. About 3.7 ish in liquid assets, about 4.3-4.4 depending on zillow home value and the market gyrations . Still full time employed and like my job but want to do other stuff.

2 kids, 1 and 3. Annual expenses around 90-100k after tax.

Big cost... House... Live in socal so mortgage and tax is 4250 and that's pretty "reasonable." If you consider cali think high housing costs and high taxes. I pay around 10%+ income and then all the other stuff on top.

You have great weather (if you live in the expensive part) but honestly I'm in cali because of work.

My plan is to semi retire next year by first taking 3+ months completely off and see how I feel. If I go nuts I may go back to work . If I love it I may extend it indefinitely. Most likely I'll go back part time unless they say no in which case... That's ok.

I want to spend more time with my young kids but if I didn't have any I'd probably just tinker endlessly. I was originally a programmer and I still love just making stuff for fun. I also have a renewed interest in physical making... For little purpose other than enjoyment.

Will that be satisfying? I don't know. But that's how I'm going to try .

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[2017ish]

I don't know about the cutoffs [between MMM, here, and bogleheads]. Certainly BHs is quite different than here but their fairly exhaustive anonymous survey doesn't have many people with NW above 5M.

I think there is a grain of truth to Fermion's ranking hierarchy, if not the exact demarcations--but there are a lot of people on here who post at two, even three, of the sites under the same or different usernames (if not, there are some scary doppelgangers out there!)....

Just different focus and that focus arguably breaks out into a hierarchy, I suppose. If anything, I would guess that, on a venn diagram, the users of this site and BH would be close to coterminous on an "asset" basis, with a bit of overlap with the generally younger folks at MMM.

 

[Markola]

Dawgman, You might check out www.jlcollinsnh.com. Jim does not ride a bike.


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[retiredinnyc]

You will know when it's time to go

We have similar net worth, I don't consider 200,000 frugal and I live in NYC. I retired at 46 7 years ago with 103,000 pension. I'm the sole income earner and I spend less than 60,000 a year. The house is paid for so its just taxes and upkeep. All my children are out of the house and married, so it's just gifts for child expenses. I just told the bride I was done I can't (did not want) to do the rat race any more. I was stuck on a bridge in bumper to bumper traffic horns honking and thinking I have more than I need in 2 lifetimes time to relax. She was all for it. I do some housework and I'm sort of her shadow now. my only regret is I didn't do it 5 years earlier. I hope I answered your question, by the way I did put down the sword, it's great being a retired warrior, just keep the sword handy, it will always be your job to provide and to protect.

 

[ER Eddie]

Spent some time on MMM after seeing Fermion's breakdown, since I've always felt a little out of place here (e.g., I have less net worth than most and am more inclined to simple living).

MMM is a good forum, but it has a high level of traffic I find hard to keep up with. I like the pace here better, and the substance to the posts. 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.

 

[eta2020]

I love MMM idea of riding bike everywhere. It is healthy active lifestyle.

His location in CO is also great. Those 2 things stick in my head from his site

 

[DawgMan]

Good stuff! A $100k pension sounds like a good safety net. Unfortunately, all of my retirement income will come from my investments which makes the avoidance of the OMY syndrome a challenge sometimes, particularly when the markets are down/flat. I'm not suggesting $200k/yr in FIRE is "frugal" by any means, I just know what from my current experience/travel/other plans, $200k feels good to me. I think there is a reality many of us don't take into account I am purposely trying to factor into my FIRE. 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. I hope I'm a Sprite 80 yr old like my motherinlaw, but if I am, I will probably be ok tapping my principle at that point. Some of us want to leave a chunk of cash for our kids when we croak... not me. I want to spend my $$ with my kids/grand kids (hopefully one day) and create experiences. In the meantime, I want to give my kids a "tool kit" to do do life with "balance"... Financially, relationally, business, fun, hobbies, etc. I think you appreciate your success in life when you make it yourself. Just 1 mans opinion.

 

[Fermion]

Spent some time on MMM after seeing Fermion's breakdown, since I've always felt a little out of place here (e.g., I have less net worth than most and am more inclined to simple living).

MMM is a good forum, but it has a high level of traffic I find hard to keep up with. I like the pace here better, and the substance to the posts. 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.

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. We could easily have $5 million at age 58 because we were saving $140,000 a year out of our income when we retired this year at 45.

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.

 

[DawgMan]

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. We could easily have $5 million at age 58 because we were saving $140,000 a year out of our income when we retired this year at 45.

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 agree... Crock pots make great wedding gifts!

 

[dvalley]

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.

 

[highlow65]

I echo daylatedollarshorts feelings, I can pinch a penny when I want to but I just like having a nice truck and don't wish to feel bad about paying 200$ a month for cable, I enjoy it, worked for it and can afford it. I also pay a ridiculous amont of money on food and don't feel a bit bad about it. So while I look at several forums this is still my home even though I don't post much

 

[ER Eddie]

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. We could easily have $5 million at age 58 because we were saving $140,000 a year out of our income when we retired this year at 45.

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.

Thanks, I appreciate you saying "don't feel out of place" -- although telling me in you could easily have $5 million at 58 sort of reinforces what I was saying, but anyhow ...

I agree that MMM gets carried away with the frugality. I think both forums are overly focused on money, actually, but in different ways. At ER, we obsess about investment portfolios and return rates. At MMM, they obsess about penny pinching.

To me, financial independence means being free of a concern about money, being free from having to think/focus so much about earning/saving money -- in order that you can focus on things that matter. If all you do, pre- and post-retirement, is just obsess about money... what's the point? You're still in the same trap, just a different version. At least that's how I see it.

 

[Fermion]

Thanks, I appreciate you saying "don't feel out of place" -- although telling me in you could easily have $5 million at 58 sort of reinforces what I was saying, but anyhow ...

I meant could have had, not could have. No way will we get to $5 million now that we have stopped w*rk.

 

[DawgMan]

Thanks, I appreciate you saying "don't feel out of place" -- although telling me in you could easily have $5 million at 58 sort of reinforces what I was saying, but anyhow ...

I agree that MMM gets carried away with the frugality. I think both forums are overly focused on money, actually, but in different ways. At ER, we obsess about investment portfolios and return rates. At MMM, they obsess about penny pinching.
To me, financial independence means being free of a concern about money, being free from having to think/focus so much about earning/saving money -- in order that you can focus on things that matter. If all you do, pre- and post-retirement, is just obsess about money... what's the point? You're still in the same trap, just a different version. At least that's how I see it.[/QUOTE]
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).

 

[ER Eddie]

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.

 

[FUEGO]

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.

 

[Markola]

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.


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[Ronnieboy]

I concur, a crock pot is not only a good wedding gift, they are a good investment, well worth the money.

 

[daylatedollarshort]

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.

 

[hnzw_rui]

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.

 

[523HRR]

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.

 

[Fermion]

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.

 

[ER Eddie]

Anyone have a similar chart or poll for this group?

 

[REWahoo]

http://www.early-retirement.org/forums/f28/net-worth-poll-55244.html