He does say that good enough is good enough for his kids education, and that he can always move back to Canada if he really needs cheap healthcare.

I like reading him for the perspective about meaning and accomplishment coming from overcoming difficulties, not from buying things.

I am not about to become handy overnight, and I like eating out, so I don't treat him like a guru but I think he has an interesting take on things.

some of his numbers are definitely based on living in a lower cost area, which he does.... He thinks college costs should be $7k a year or so. uh, what?

also he has moved to a lower cost area, where rents more appropriately match a mortgage on a house so he can generate rental income. It can be hard to buy something here and rent it out for enough to cover your mortgage.

Anonymous wrote:I figured someone would eventually post this nonsense on here. Retiring on 25k a year of rental income at 30 for a family of 3 is not the smartest thing one can do. For most of us who read this forum, living in poverty and not being able to send their kid to college is not the preferred option to spend the rest of their lives. Spend, no pun intended.

Yeah, how does he address college? We are planning on saving $400,000 to pay full freight for two kids.

Anonymous wrote:What happens when God forbid someone gets sick or has an accident?! Life can change in an instant and $25,000 per year income will seem like nothing when medical, legal, etc bills might arise. Sometimes the minimalist lifestyle can actually hold you back.

On his blog he has a pretty well thought out section in insurance and what would happen if catastrophe did occur. Seems to be pretty well contemplated based on insurance and nest egg to me.

What happens when God forbid someone gets sick or has an accident?! Life can change in an instant and $25,000 per year income will seem like nothing when medical, legal, etc bills might arise. Sometimes the minimalist lifestyle can actually hold you back.

Yes but let's say a family earns $150k in this area-- using his principles, you would be able to live on, say, $75k or so here and bank the rest in 529s, retirement, investments.

Personally I would love to do more of this but my spouse is kind of a spender and I can't control every penny like I want. His wife must be totally on board with every aspect of their plan in order to keep expenses so low. It doesn't work as well if 1/2 of the duo doesn't subscribe...

sounds like 3rd world living to me

Anonymous wrote:8:54 PP - how did you amass $1.6M in savings? Any tips?

OP here - yes please share! I could use a kick in the pants from anyone who wants to give it!

Anonymous wrote:I figured someone would eventually post this nonsense on here. Retiring on 25k a year of rental income at 30 for a family of 3 is not the smartest thing one can do. For most of us who read this forum, living in poverty and not being able to send their kid to college is not the preferred option to spend the rest of their lives. Spend, no pun intended.

Their house is paid off and they seem to eat and travel pretty well. Doesn't look like poverty to me.

To each their own.

-OP

Anonymous wrote:I saw the same articles last week and have been reading the archives on his blog. I'm loving the blog and it has been the kick in the pants I needed to cut back on spending. We had been thinking about buying a second car and this has convinced me why that would be a bad idea!

OP - are you reading his blog too?

I am- I like his posts b/c I feel like I can identify a little better than some of the frugal bloggers (ie I want my wine and organic chicken!!!)

Its definitely thought provoking stuff! I feel like even incorporating part of it would have some benefits.

I figured someone would eventually post this nonsense on here. Retiring on 25k a year of rental income at 30 for a family of 3 is not the smartest thing one can do. For most of us who read this forum, living in poverty and not being able to send their kid to college is not the preferred option to spend the rest of their lives. Spend, no pun intended.

8:54 PP - how did you amass $1.6M in savings? Any tips?

I saw the same articles last week and have been reading the archives on his blog. I'm loving the blog and it has been the kick in the pants I needed to cut back on spending. We had been thinking about buying a second car and this has convinced me why that would be a bad idea!

OP - are you reading his blog too?

32, $1.6M in savings here. Kudos to him of course, but I like what I do.

This has inspired me to reevaluate my spending.


http://www.washingtonpost.com/business/meet-mr-money-mustache-the-man-who-retired-at-30/2013/04/26/71e3e6a8-acf3-11e2-a8b9-2a63d75b5459_story.html?Post+generic=%3Ftid%3Dsm_twitter_washingtonpost

http://live.washingtonpost.com/mr-money-mustache-advice-050313.html