Your money or your life

[perinova]

from Dominguez. / Robin

I discovered that book reading a thread earlier on the forum.
Very good book overall (10 years old now) about the philosophy behind the need for financial independance and better work life balance.

The part of the book related to investing is not as good as they pretty ignore, willfully, the effect of inflation. (even though he was a financial analyst)

Another comment about Joe Dominguez. Apparently this guy retired at the age of 31 and died at the age of 59! Good thing he retired early he was able to enjoy 28 years of retirement.

 

[yakers]

IMHO YMOYL is a very significant book. The financial advice is terrible but the concept that each thing you buy is worth so much of your life energy was a mental breakthrough for me and a lot of other folks. And you work until your finances work for you. AFAIK Dominguez did not have a great ending, lived in a commune on very little money, the results of too conservative dependence on Treasuries. But his ideas are valid and a counterweight to the common societal materialism.

 

[chris2008]

Hi,
While the YMYL investment ideas might not fit all, there are lots of valuable ideas in it.
As far as I know Joe did not run out of money but decided to live a very modest and simple way, part of that was to share goods like housing.

Ideas on YMYL and voluntary simplicity are exchanged at www.slnet.com.
Some of the posters here are also active in the forums there.
Chris