Quit the Rat Race in 10 years or less

[jasonjp1016]

Hello everyone, just wanted to share some links that I thought could help some folks out here with money issues.

I've attached an excellent video by Mr. Money Mustache explaining the title.

And I've listed a link for more practical information on the subject.

I've started this journey 3 years ago after lots of research and haven't looked back.

 

https://www.mrmoneymustache.com/2013/03/07/how-about-that-stock-market/

[Hello from Russia]

I feel all investment stuff should be banned from this forum

If you want to live on the minimum amount of $ with constantly deteriorating health due to poor food & stuff that you force yourself to eat for 20 years just so you can now do the same just without working - go for it, that's your life

But there are way more efficient, creative & non-lazy ways to go about this topic that can yield both much more money and much more satisfaction from doing it

I don't like conventional medicine personally, but I still must admit, this $400k/y doctor would probably still make way more positive impact and is probably way more fulfilled than a $40k/y carpenter guy that he gets compared to. I also don't buy that these doctors just spend all their money recklessly like it is being presented here, it's basically strawmaning

Edited July 1, 2021 by Hello from Russia

[jasonjp1016]

@Hello from Russia

Perhaps you should actually watch the content before you post comments.  There's quite a few nuggets of wisdom in there.

Edited July 1, 2021 by jasonjp1016

[jasonjp1016]

23 minutes ago, Hello from Russia said:

I feel all investment stuff should be banned from this forum

If you want to live on the minimum amount of $ with constantly deteriorating health due to poor food & stuff that you force yourself to eat for 20 years just so you can now do the same just without working - go for it, that's your life

But there are way more efficient, creative & non-lazy ways to go about this topic that can yield both much more money and much more satisfaction from doing it

I don't like conventional medicine personally, but I still must admit, this $400k/y doctor would probably still make way more positive impact and is probably way more fulfilled than a $40k/y carpenter guy that he gets compared to. I also don't buy that these doctors just spend all their money recklessly like it is being presented here, it's basically strawmaning

I think you have a big misconception about the topic.  Snap judgement I suppose but nothing you said is the reality for many who are on this journey.

It's anything but lazy, you essentially have to become an engineer of your life to make any of this happen.  If it was easy or lazy everybody would be doing this.  In fact it takes much discipline.

Edited July 1, 2021 by jasonjp1016

[Hello from Russia]

13 minutes ago, jasonjp1016 said:

I think you have a big misconception about the topic.  Snap judgement I suppose but nothing you said is the reality for many who are on this journey.

Did you ever consider other alternatives to this strategy? They are way way way more superior, imo

I don't mean to be offensive here, but I feel like these strategies are interlinked deeply with your desire to create such topics:

Quote

Would you start a new life if giving the option?

Started by jasonjp1016, September 6, 2018

I'd personally hate my life if I was doing something like what is being presented in the video knowing what I know now. But that's me

Edited July 1, 2021 by Hello from Russia

[jasonjp1016]

@Hello from Russia

If these topics don't resonate with you that's fine, do what works for you.  I'm just trying to share information with others that has greatly improved my life.  

 

Edited July 1, 2021 by jasonjp1016

[flowboy]

@jasonjp1016  What is your source of income, what do you do? And how much have you saved per month since you started this journey? How much do you expect to save in the future and why?

I'm skeptical that it's a sustainable strategy, but I'm open to counterexamples.

[flowboy]

15 hours ago, jasonjp1016 said:

I've started this journey 3 years ago after lots of research and haven't looked back.

In your research, did you encounter MJ DeMarco and his philosophy? If so what did you think of it?

[flowboy]

15 hours ago, jasonjp1016 said:

 

I've watched it, and I like him. I think he's right about everything he says in this presentation. It's good to be frugal with money wherever it doesn't bring happiness. Being rich doesn't make you happy, meaningful work does. Work is better if you don't need the money.

But I still think he could have gotten there much faster if he had started out as an entrepreneur, and skipped the school+job phase. Better to start a business out of your parents' basement, that way you won't have this pressure to make a lot of money every month, and everything you earn can go to growing the business much faster.

So I'd say there is sound advice here but it's missing something. It took this guy almost 11 years to even start to figure out what he authentically wanted to do with his life that could also make money.

He could have started that right away, instead of focusing blindly on frugality. Perhaps he'd be much farther along by now. Elon Musk didn't waste 10 years of his life just to have some money saved up and feel safe. He started right away.

Edited July 2, 2021 by flowboy

[jasonjp1016]

@flowboy

I would say everyone’s life is unique in where they are at.  If you want to be an entrepreneur by all means do it.  This is just one of many ways to get there.  
 

It’s something I discovered and have become fairly passionate about.  I wished would have known about this a lot sooner in life.  And I hope at least it helps a few people out in their journey.

There’s a ton more information out there if do some research.

 

[universe]

He says some nice things. And to many people this will be very relevant. Big companies spend decades of hard work to make you believe that a car, a frappucino and the new iPhone will make you happy.

That is of course not the case. Learning to be happy with what you have is a good lesson. And certainly helps to live a more easy life.

If you are interested in happiness I can recommend this video from Leo.

 

 

Mr. Mustache makes some big assumptions. For example that the purpose of life is to be happy. For him that may be true, but everyone is different.

[jasonjp1016]

I wouldn't make the mistake that this is some be all end all philosophy.  In fact this is probably really basic shit that should be taught in high school.  But unfortunately this is not taught nor is it common sense.  The best part is there is nothing to buy.  You simply need to educate yourself on a few basic principles and put it to work.   An example would be if you put away $100 a month from age 18 to 65 at 10% interest year over year (the S&P 500 index has a historical rate of 10%), you would have $1,046,369.82.  And your total contributions in that 47 year span was only $56,400.  That's the power of compound interest.  Even someone with a really low paying job could probably come up with $100 a month to invest.

Hell, even if you don't want to retire early or ever, most people are going to want to put money away for the future for unexpected events and life circumstances unless you have an obscene amount of money on hand.

I'm actually shocked by the negative reaction from some posts.  I'm simply sharing something that I think could help a lot of people along their journey. You could even look at as a type of fail safe if something doesn't work out. 

Thats my peace.

[hyruga]

Did Mr Money Mustache reveal how much he earn from investing in index funds and from his work?

He must have earned a lot to be able to retire at age 30. Realistically, no one will retire at age 30 with 1 mil so I believe MMM earns way more than that.

[Nahm]

@jasonjp1016

It’s not negative. You’re kicking some leaves off the truth. It shakes the reactionary out of the bushes. Good on you sir. 

“The first time you feel it, it might are you mad. The next time you feel it, it might make you sad. But you’ll be glad when you’ve found, the power that makes the world go round.” HL

Yet, if you’re to continue calling us rats, make sure it’s consciously, on purpose.