mr-money-mustacheI was going to wait until next week before sharing this, but after watching the video a couple of times, I got so excited that I couldn’t wait.

If you’re already a fan of Mr Money Mustache (as you’ve probably guessed by now that I am) you may have already seen this and know the subject off by heart. So if you’re completely up with the play, please feel free to drift off and read something else. If not, then stick around as I reckon you’ll find it worthwhile.

If you don’t already know Mr Money Mustache, he and his wife made the decision to ditch the typical lifestyle of 95% of Americans (and 95% of the population of most western countries) which is work, earn, spend, repeat, until retirement around the age of 65.

He calculated that he could retire in just 10 or so years of work by reducing spending and drastically increasing his saving rate. So after 10 years of working, he and Mrs MM pulled the plug on full-time employment back in 2005 aged 31. I’ve really simplified it here as Mr MM goes through this in the video.

Since retiring, one of his pet projects is “to try to get the people of the world’s rich countries excited about separating the idea of lifetime happiness, from the idea of buying expensive shit with which to pamper yourself. We use early retirement, personal fulfillment and social status as the carrot, and being a wussypants clown as the stick. It’s a human psychology problem as much as it is a financial or technical or political one.” (Mr MM’s words)

At the recent World Domination Summit (it’s not as hard core as it sounds), held in Portland Oregon in June, Mr Money Mustache presented a summary of what financial independence and early retirement is, how and why you’d want to do it, and why this is actually a good and ethical thing to pursue.

There’s a good chance that you may already be on board, as I am, otherwise you wouldn’t be reading my blog in the first place. But if you’re not, or you’re new to this concept of FIRE, or considering it yourself, I think you’ll find this worthwhile.

 

 

15 thoughts on “The Really Simple Concepts Behind Financial Independence & Retiring Early: Mr Money Mustache”

  1. I’m glad you shared this on your site! The presentation was so much more powerful than reading his posts – and his site is a 10 out of 10 in my book.

    Thankfully MMM challenged himself to give a presentation! Major props to him for pulling off such a stunning presentation.

    1. Mr MM certainly set me on the path to recognising what financial freedom is and then achieving early retirement but also inspired me to start writing my blog about it too. I’m sure that he is somewhat responsible for a great many of us FI blog writers out there. Cheers for stopping by Tristan.

  2. Have been following MMM for over a year now. Provided me with the necessary shot in the arm to sort my finances and future. Thanks for sharing.

    1. Nice one Bill. I reckon MMM was the shot in the arm for a good many of us out there to sort our financial shit out. I was living a sort of frugal life before I came across Mr MM and Mustachism but his blog sort of cemented it in my mind and I guess you could say, gave it a name. Thanks for your comment.

  3. It is possible to retire early, if that is what you really need. There is no need to retire if you love the work you do. Once you have enough saved up, the work is really enjoyable. I can assure you that.

    1. Hi there, welcome to Get FIRE’d asap and thanks for your comment. I’ve met plenty of people way past the official retirement age who are still working because they love it. And then there’s a heap of people who could retire much earlier because they are financial independent but keep working, again, because they enjoy their work. But there’s plenty who have no choice to keep working into their senior years because they can’t afford not to. I didn’t want to be in that boat so put plans in place to ensure that I could retire early. And it’s paid off.

      I do agree with you completely. Once you don’t need the money, you gain a whole new perspective on work don’t you.

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