Re: MMM interviewed by Tim Ferriss (ERE mentioned)
Posted: Wed Feb 15, 2017 4:09 pm
MMM is a couple with child, so divide their budget by 3.
---an online community leveraging 14 years of experience in resilient post-consumerist praxis
https://forum.earlyretirementextreme.com/
https://forum.earlyretirementextreme.com/viewtopic.php?t=8669
Probably more than a third though for an individual; not all their costs will be variable.George the original one wrote:MMM is a couple with child, so divide their budget by 3.
Herding people is hard... optimally you have a large number of committed people to work with. I think people on this forum are more hardcore whereas the MMM forum are more numerous.jacob wrote: I realized that ERE City/workshop is like herding cats ... but maybe MMM city/workshop is like herding dogs? (as per the above) Value-judgments aside, ERE city never worked out ... nor did small workshops ... but this could be a Wheaton level thing---ERE could easily be too rare/far out. I would be quite pleased if this actually turned into something. Given that those concepts have been failing for 5+ years on this forum may or may not say more about this forum than the general condition of humanity. I'd be interested to know if it actually worked out at MMM.
Maybe this counts?jacob wrote:If I have one complaint, it's the lack of active promotion to the next level(*) from the rest of the FIRE community.
In that article the author says there is no one right answer. I agree. But that doesn't mean there aren't wrong answers. FI can buy people the freedom and more importantly the leverage to do crazy shit that affects us all.Fish wrote: Maybe this counts?
http://moneyboss.com/do-what-works-for-you/
I am not so much concerned with the spending. To each his own. It is more about the consumption and waste involved in that level. What would happen if we all did that?Let’s use my friend Jim from Wallet Hacks as an example. He too is financially independent. Because he’s managed to accumulate so much wealth, he lives what he describes as a “decadent” lifestyle. His family spends $120,000 per year, which includes $4500 per month for a mortgage and $2800 for daycare. (Jim spends as much on daycare as I do for a year of normal living!)
“I’m an extreme case,” Jim told me. He spends a lot, and he knows it. But he also knows that his savings can support this level of spending.
Where this could be improved is having someone authoritative provide a comprehensive and objective survey of the various FIRE ideas/paradigms along that Wheaton scale. If we're leaving it to random people on forums to write about it, there's a lot of potential for misrepresentation and errors of omission.FUEGO wrote:Yeah, it's funny how you have to pick the right forum to ask your question. If you spend $60,000 and are okay with it, post here [on E-R.org]. You'll be told you are just fine as long as you have $2 million and are okay with a 3% WR.ginadog wrote: I [posted in the MMM forums] and man I was ripped a new one because I had $60,000 in yearly expenses (which included several big ticket one-time items). It was down right hostile and unfriendly so I did not feel posting over there again.
Go to the MMM forums if you want to be told how to cut it to $30,000 and how wasteful you are.
Go to the Early retirement extreme forum if you want to learn how to cut it to $15,000 and how that amount is still really wasteful.
Different strokes for different folks I guess.
Thanks for the clarification, Ego. I read the article but didn't make the connection you did. Justifying a spending (consumption) level because one can afford it reminds me of people who think it's okay to have 6 kids because they can afford it. The "affording" ends up being on a much bigger level than imagined.Ego wrote:@halfmoon, In the linked article J.D. said this....
I am not so much concerned with the spending. To each his own. It is more about the consumption and waste involved in that level. What would happen if we all did that?Let’s use my friend Jim from Wallet Hacks as an example. He too is financially independent. Because he’s managed to accumulate so much wealth, he lives what he describes as a “decadent” lifestyle. His family spends $120,000 per year, which includes $4500 per month for a mortgage and $2800 for daycare. (Jim spends as much on daycare as I do for a year of normal living!)
“I’m an extreme case,” Jim told me. He spends a lot, and he knows it. But he also knows that his savings can support this level of spending.
In evolutionary terms, morals or moral psychology are probably better viewed as simply one component of an entire "cultural package" that includes that component along with technology, language, social structures, etc. These ideas are explored in detail in J. Henrich's "The Secret of Our Success: How Culture Is Driving Human Evolution, Domesticating Our Species, and Making Us Smarter" (2016), which builds in part off of the research in that wikipedia article but makes the point that its probably a mistake to treat these components as separate or any one of them as the "one thing" that drives humanity as some researchers/philosophers have tried to do.BRUTE wrote:their genes - or their ideas? scumbag memes.
yes, mix of morals is likely very resilient in the evolutionary sense. brute hasn't ever heard it said like in the link, but it makes complete sense. just as mono-crops are vulnerable to devastation by a single pest, incestuous populations develop inbreeding problems, why wouldn't ideas and therefore morality follow the same dynamic?
doesn't mean brute has to like the guy.
He uses Betterment, whose "customers must have a permanent U.S. address, a U.S. Social Security Number, and a checking account from a U.S. bank" (according to its FAQ), and since the holders of a TN visa cannot apply for permanent residence, I think they wouldn't be able to claim a permanent U.S. address either, thus a green card seems more likely to me.jacob wrote:I wonder whether he's a citizen or a greencard like me or a TN visa (subject to NAFTA).