MMM Buys Brand New Nissan Leaf; "An Experiment"

[daylatedollarshort]

I agree, and I think purplesky's comments diluted the focus of the thread somewhat. Most of those who don't like MMM's approach feel as such because of a perceived dishonesty in the way he presents himself, and not because he ceased performing traditional work early.

+1. I like not having to work and going to the park myself. If I knew how pleasant it would be I would have saved more and retired even earlier.

 

[purplesky]

So what's wrong with enjoying a leisurely low cost life if you have the assets to at a young age? Does turning 45/50/55/65/70 suddenly entitle one to those things whereas younger than such a threshold an individual MUST work? If I had the ability to make X number of dollars from my investments at an early age and live what I deem to be a fulfilling life why would I work? At some point enough is enough.

I guess it all comes down to how much low cost leisure you are going to enjoy off your X number of dollars from your investments.

Mr. Money mustache is advertising $24,000 a year and that just doesn't seem like a lot of leisure to me. Because it's not.
Obviously Mr. Money mustache has a business account on the side and we're not really getting the whole Financial picture of Mr. Money mustaches life.

I just find it fascinating that in this low-wage economy A millennial actually making enough money to save $1 million in 10 years would just quit working to live on a minimum wage income for the rest of their lives.

Yeah I just don't think 10 years in the workforce is really the point where you say enough is enough.

That's just not enough laps around the track of life experience.

 

[Music Lover]

I guess it all comes down to how much low cost leisure you are going to enjoy off your X number of dollars from your investments.

Mr. Money mustache is advertising $24,000 a year and that just doesn't seem like a lot of leisure to me. Because it's not.
Obviously Mr. Money mustache has a business account on the side and we're not really getting the whole Financial picture of Mr. Money mustaches life.

I just find it fascinating that in this low-wage economy A millennial actually making enough money to save $1 million in 10 years would just quit working to live on a minimum wage income for the rest of their lives.

Yeah I just don't think 10 years in the workforce is really the point where you say enough is enough.

That's just not enough laps around the track of life experience.

I'm not really a fan but have read a few of his blogs. From what I recall, most of his leisure activity is along the lines of hiking and making craft beer...very inexpensive endeavors. No boats, no overseas trips, no new or second vehicles (until now I guess), no eating out, etc. If your house is paid off, you do your own DIY, and your leisure activities are free or almost free, then $25,000 is plenty to live on.

 

[harley]

All of the attitude is tongue-in-cheek because he's also just a young guy with a family named Pete

Interesting. I once knew a man with a wooden leg named Smith.

 

[FUEGO]

From what I recall, most of his leisure activity is along the lines of hiking and making craft beer...very inexpensive endeavors.

He also counts among his hobbies making folks on the internet debate endlessly about him. I hear he gets a nickel every time someone calls him a fake/fraud/scammer/liar or questions whether he is really retired.

He has a lot of nickels I hear.

 

[purplesky]

I'm not really a fan but have read a few of his blogs. From what I recall, most of his leisure activity is along the lines of hiking and making craft beer...very inexpensive endeavors. No boats, no overseas trips, no new or second vehicles (until now I guess), no eating out, etc. If your house is paid off, you do your own DIY, and your leisure activities are free or almost free, then $25,000 is plenty to live on.

So just out of curiosity.

How much does Mr. Money mustache pay for his family's health insurance?

I have health insurance through my mega Corp. so I've never really had to price health insurance on the open market.

I could retire today and produce $25,000 a year off my portfolio but I imagine paying for health insurance out of pocket would take a huge bite out of my $2000 a month retirement budget.

 

[Music Lover]

So just out of curiosity.

How much does Mr. Money mustache pay for his family's health insurance?

I have health insurance through my mega Corp. so I've never really had to price health insurance on the open market.

I could retire today and produce $25,000 a year off my portfolio but I imagine paying for health insurance out of pocket would take a huge bite out of my $2000 a month retirement budget.

He had a blog post in 2012 that said they paid $237 per month...I have no idea sure what they pay today:

Our New $237/month Health Insurance Plan

 

[Running_Man]

So just out of curiosity.

How much does Mr. Money mustache pay for his family's health insurance?

I have health insurance through my mega Corp. so I've never really had to price health insurance on the open market.

I could retire today and produce $25,000 a year off my portfolio but I imagine paying for health insurance out of pocket would take a huge bite out of my $2000 a month retirement budget.

He claims to pay $237 a month for a family of 3 but the plan has a family deductible of $20,000 before they begin to pay any claims. Of course with 400K per year of income there is not too much worry about that 20K but if you are living on 25K per year this is the way to financial nirvana. He claims healthy living means no doctor bills. He claimed this is the way to make early retirement work and helpfully provided a link to get this great insurance plan, which of course pays him an affiliate fee and makes insurance costs affordable, this is a great world!!

 

[Texas Proud]

He had a blog post in 2012 that said they paid $237 per month...I have no idea sure what they pay today:

Our New $237/month Health Insurance Plan

I am pretty sure that plan is not available anymore...

And if he does make $400K then he is not getting subsidy....


And I also bet his insurance cost is now much higher.... either that or he just dropped insurance...

 

[Markola]

MMM Buys Brand New Nissan Leaf; "An Experiment"

Interesting. I once knew a man with a wooden leg named Smith.

Seems my modifier was dangling. Thanks for the correction. Too bad about your friend.

 

[Just_Steve]

I have health insurance through my mega Corp. so I've never really had to price health insurance on the open market.

My retiree health plan is the same exact plan I had when w*orking, I was curious so I went to NY's exchange and to see a plan thats even close to what I have now. For a Platinum plan with a slightly higher co-pay and out of pocket it would cost me $1,500 a month for just me and my DW. Not eligible for subsidies, what a freaking eye opener that was. $18,000 a year holy crap.