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The acronym for the book is YMOYL. Most of the ERs at the Life After FIRE forum read the book before ER. The authors' anti-consumerism view is that each purchase represents some amount of time spent at a job. They feel that most objects are not worth that much effort. The book helps you see how spending is what keeps you at your job.
The portfolio advice is dated because CDs and bonds were paying 8-12% in those days, so the author suggested only owning them, not owning equity investments. The book is inspiring in that it honors living, not "working for a living." As noted in the magazine article, frugality is the shortcut to retirement, obviously on the saving part but less intuitive is the smaller nest egg needed if your expenses are low in retirement. Frugal living while working is just practice for retirement living. You have more control of your expenses than your investment returns.
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