Freedom 45 from Pierre Yves Mcsween

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Colibri
Posts: 77
Joined: Thu Dec 28, 2017 1:26 am
Location: Northern Canada

Freedom 45 from Pierre Yves Mcsween

Post by Colibri »

Fellow Canadians and Quebecers :

What are you thoughts about this new book from Pierre Yves Mcsween ?
Have not read it and wondering if that could be a good candidate for a book request at the local public library.

My understanding is that he is not talking about FI or ERE but rather having your shit together financially speaking by the time you reach 45. Correct ?

Loner
Posts: 181
Joined: Wed Jan 04, 2017 2:26 pm

Re: Freedom 45 from Pierre Yves Mcsween

Post by Loner »

Good question, I'd be curious to know as well if anyone read it. I think it's his "FIRE" book, vs the first one that was more of a conventional pf book ("Have a few months of pay stashed away!"). I have not read it myself, but from what I gather, he looks somewhere in between MMM and Dave Ramsey in terms of Wheaton levels (which would explain why he was able to sell >1 million book of his first book, IIRC). I guess this one will be more or less the same as his first book, hence why I didn't bother reading either (nor other PF books nowadays neither). ERE was the only one PF book I really liked. The other ones were all kind of obvious, and I quickly got a sense que j'avais fait le tour du jardin.

Btw, another book came out on the same topic by a blogger named Jean-Sébastien Pilotte ("La retraite à 40 ans"), in case you're interested. It looks somewhat typical of the genre (he likes traveling, he buys ETFs when "the stock market is on sale", etc.), so I guess it depends on where you are in your pf journey.

As usual, we're some years late here in Québec. It's always like that: some trend starts in the US, and then it seeps here 5-10 years later.

Colibri
Posts: 77
Joined: Thu Dec 28, 2017 1:26 am
Location: Northern Canada

Re: Freedom 45 from Pierre Yves Mcsween

Post by Colibri »

Yes, I heard Jean-Sébastien Pilotte and his partner a few years ago at a radio show (Medium Large). It was when the Quebec media paid attention to the FIRE scene for a few months in 2018. But, yeah, not so much interesting when you are somewhere else in terms of Wheaton levels. I, too find most PF book not very interesting. What ever is preached seems so obvious at the best, or counter productive at the worst.

For some reason, Pierre Yves McSween message seems more appealing. No none sense type of thing. No travel-blogging in Sri Lanka for Christmas.
No sugar coating. I like when he tells people they are fu**** because they have no savings at 50. Sometime in 2018, L'actualité had a long interview with him about retirement savings and other PF subject. It was a hit with a couple of my francophone friends who checked the magazine on my kitchen table.
I didn't read his first book but it seems like a hate/love relationship with many of his readers.

Mmm... will try to read the new book at the library next time I am visiting the belle province.

Loner
Posts: 181
Joined: Wed Jan 04, 2017 2:26 pm

Re: Freedom 45 from Pierre Yves Mcsween

Post by Loner »

Oh!

Another book that might be interesting for Canadian readers, and also perhaps for the FIRE community at large: "Stop working-- start living : how I retired at 36-- without winning the lottery", by Dianne Nahirny. Google tells me it was mentioned only once here on the board: viewtopic.php?t=32. It was published in 2001, making it an early-ish book on the topic. I read it out of curiosity last year after stumbling on it I-don't-know-where. I also liked the fact that it wasn't all hip like new PF books - for some reason that puts me off. They have it here at BANQ if you want (you can also probably get it from there through interlibrary loan). It was a bit like every other FIRE book: earn more, spend less, etc. Nothing ground breaking in terms of theory but her story reinforced some ideas that I liked much about ERE: DIY, simple life, and all that. IIRC, she also goes into some discussion about how/whether inflation affects savings/projections by looking into price increases the particular components of CPI that are relevant for a typical simple-life-minded person. Nothing new neither, and the numbers are old by now, but I had never seen anyone delve into those numbers for Canada.

Loner
Posts: 181
Joined: Wed Jan 04, 2017 2:26 pm

Re: Freedom 45 from Pierre Yves Mcsween

Post by Loner »

Seems like the local FIRE movement is coming under fire. A commentator/economics prof. just wrote a (scornful) piece to criticize Pilotte's book (which otherwise appears to have been well received by the general public, an encouraging sign): https://www.journaldemontreal.com/2020/ ... ux-bougons

Typical criticism. The commentator first attacks the word "retirement" (obviously without understanding what the term is getting at); then he puts a local workaholic media mogul on a pedestal, i.e. as an example of a person contributing positively to society (his businesses are well know for their toxic work environments); and then he clearly, unambiguously states that the only way to contribute to society is through 9-4 paid employment. After that, he criticizes money-making through investments (yet doesn't criticize the previously-mentioned media mogul, whose career was built on precisely that following an inheritance from his dad, a mogul who coincidentally signs said commentator's paychecks). At the end, he says that our society is a (consumption-production) system that we inherited, and so we should be grateful for such a terrific inheritance and keep ourselves from dilapidating it, i.e. one should go to work in the morning, according to him, even if one doesn't feel like it ("responsibility"). One can only suppose how he feels about his own work. Anyhow, he ends on a contemptuous invitation for the author to live off taxpayers, and asks Pilotte to keep himself from publishing a(nother?) book on FIRE, since, it automatically follows, nobody would be there to heal him if he were to become sick.

Bonus points: the guy writing the piece is in the family of the (FIREd) author he is attacking.

I hadn't seen such criticism here, yet. I guess it's become a rite de passage for FIRE writers. At this point, it nearly made me laugh. Those arguments are so beat-up, it's become kind of tiring to hear them over and over.

ertyu
Posts: 1505
Joined: Sun Nov 13, 2016 2:31 am

Re: Freedom 45 from Pierre Yves Mcsween

Post by ertyu »

lmao his family think he should get a job :lol:

but also, "one should go to work in the morning even if one doesn't feel like it" is a very class-specific argument if you think about it. It's what a capitalist tells the working class to make it accept its yoke. I also see why a government would tell this to its citizens.

also also, i don't think a "commentator/economics prof)" is qualified to pronounce on the nature of labor. I doubt he's actually done any actual labor in his life. He sounds like the epitome of a bullshit job holder.

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