# Link "Are You Giving the Shaft to your Future Self?" Imho a must read blog post.



## canucked_up (Feb 23, 2014)

*Link "Are You Giving the Shaft to your Future Self?" Imho a must read blog post.*

In a recent post of parents trying to help their grown children, I was reminded of the latest post at MMM. "Are You Giving the Shaft to your Future Self?" Makes sense that you have to keep some or your money before you can invest it.

WARNING: Occasional use of strong language.
http://www.mrmoneymustache.com/2014/11/11/are-you-giving-the-shaft-to-your-future-self/

I thought it was well written, concise and important enough that I printed it and put it in a report cover(5 pages) for our youngest and soon to be graduating/leaving the nest, young adult. If it gets a proper reading, it *may* plant a few seeds. I am considering doing the same for the older, already out of the nest, other two children.

If I had half the money sense at her age that I do now, I would be many more miles ahead. Here's hoping.


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## indexxx (Oct 31, 2011)

canucked_up said:


> In a recent post of parents trying to help their grown children, I was reminded of the latest post at MMM. "Are You Giving the Shaft to your Future Self?" Makes sense that you have to keep some or your money before you can invest it.
> 
> WARNING: Occasional use of strong language.
> http://www.mrmoneymustache.com/2014/11/11/are-you-giving-the-shaft-to-your-future-self/
> ...


Great article, thanks! I've been saying that for years now- that I wish I'd known anything about personal finance when younger. My parents knew nothing, school didn't teach you, and in my 20's I made amazing money and blew it all partying and buying stuff. If I had started even a small investing program back then, I'd have 10 times what I do now.


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## sags (May 15, 2010)

Would have........could have.........should have........didn't.

Mr. Mustache's obsession with how other people are carefree and enjoying their lives reminds me of an old saying........

Misery loves company.


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## uptoolate (Oct 9, 2011)

Isn't it also a bit hypocritical to espouse the value and satisfaction of hard work and then retire at 40? Sure the average person could probably be a bit more thoughtful about how they spend money but the article does seem to go a bit overboard.


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## Janus (Oct 23, 2013)

I get his message but his hyperbolic style of writing is just unbearable after a couple of articles.



> So do you jack up the seat of the unicycle another 20 feet and balance a few fire-juggling elephants atop a broomstick which extends from your hat? Do you open a can of grease with your other hand and squeeze some onto the tire of the unicycle, and then start pedaling through town to go see if you can find a half pipe to bust out a few frontsides?





> Then you gently set down and free the elephants, find yourself some winter boots, a coat, gloves, hat, food and shelter. With continued preparation and ingenuity, you can be out making snow angels and watching the winter moons, instead of having your frozen and crushed body blackening in the shadow of the elephant corpses, being nibbled away by raccoons until the eventual maggot infestation when the spring thaw comes.


Honestly how can anyone enjoy reading this?


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## peterk (May 16, 2010)

uptoolate said:


> Isn't it also a bit hypocritical to espouse the value and satisfaction of hard work and then retire at 40?


31 actually :biggrin: I think he's nearing 40 now.


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## lonewolf (Jun 12, 2012)

@ present I would like to screen gravity so I would not accumulate future gravity future becomes present becomes past.


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## PrairieGal (Apr 2, 2011)

I find MMM's hyperbole hilarious, and his lessons priceless. 

I definitely wish my 20 year old past self had read this article and taken it to heart. As it is, I discovered MMM a couple of years ago from someone's comment here on CMF. I don't bike to work, and I never will, but I have adopted a lot of his other frugal living ideas, and I have been able to turn my finances around.

A lot of the comments focus on medical bankruptcy. Once again I am thankful that I live in Canada and will never have to worry about that. Yes, we pay higher taxes to pay for our healthcare system, and I am perfectly fine with that.


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## Rysto (Nov 22, 2010)

PrairieGal said:


> Yes, we pay higher taxes to pay for our healthcare system, and I am perfectly fine with that.


Funny story there. US governments (federal and state) spend more per-capital on health care than Canadian governments (federal and provincial). This is not a recent thing caused by the Affordable Care Act, either. The US system is just so messed up and inefficent that their governments have to spend a huge amount of money covering the health care of only a subset of the population.


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## uptoolate (Oct 9, 2011)

His focus on medical bankruptcy takes away from the message a bit imho, the truth is that no amount of saving/frugality is going to save the average American from this if they are unfortunate enough to have a significant medical problem. This is even true in cases where someone has medical insurance but winds up with a chronic illness and their insurer figures out a way to dump them. I too am thankful for Canada's rampant socialism on this front.


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## Jon_Snow (May 20, 2009)

He certainly has his critics, but MMM's "message" has merit, in my view. I was lucky (or sensible?) enough to be living the very principles he trumpets 10 years before I stumbled upon his website. I have managed to retire in my early 40's by following many of his tenets.


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## Plugging Along (Jan 3, 2011)

To each their own...

I think there are some good message, stop borrowing from your future is the main one for me. Get out of debt as fast as you can. 

However, it's about what one values. He thinks trips and restaurants are a waste of time, I love them and some of my fondest memories are around amazing activities while on a trip or a memorable meal. I don't have frugal tastes, so it a good thing I have found a way to afford them. I don't see his preachy, judging nature as a benefit.


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## canucked_up (Feb 23, 2014)

Janus said:


> Honestly how can anyone enjoy reading this?


"your frozen and crushed body blackening in the shadow of the elephant corpses" How can a Cretin like me not? Give your Matthew Good Band/Smiths et al. a break and get some Ramones into you.


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## My Own Advisor (Sep 24, 2012)

MMM's writing is good, his savings habits and living practices are not for everyone but there are good messages in his posts.

Could I live like he does/has? No way. To each their own. You gotta do what makes you happy.


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## indexxx (Oct 31, 2011)

What I like about the article is that it might plant a few seeds in people just entering the work force. I've gotten the feeling from many co-workers over the years that there is a pervasive sense of powerlessness, lack of confidence, and fear when it comes to personal finance.

I've attempted to have discussions with friends and coworkers over the years, wanting to engage them into being interested and learning about taking charge of their financial future no matter their income level- but almost always to no avail. They don't realize the power they have to create their own financial future; they think it's complicated and overwhelming and beyond them when the opposite is in fact true. Being in the bar business, it drives me crazy to watch people earning tons of cash in their 20's and blowing it on lifestyle (because I was guilty of it too) without putting a dime away. I really believe that there needs to be a process in late teen years for everyone to find out about personal finance. Imagine the difference in people's lives if say in the last year of high school, there was a mandatory section of the curriculum on personal finance- even a couple of hours worked into social studies or something.


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## Jon_Snow (May 20, 2009)

I've picked and choosed in regards to MMM's advice. I like eating out. I like having a car. I am NOT going to bike everywhere. Probably the best thing we ever did was not buy more house than we needed, though we had the income to become big mortgage holders like many Canadians.

MMM is a bit too extreme for me on quite a few things. Indexxx is right on - people just getting started financially would to well to look into some of the concepts MMM puts forward.


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## brad (May 22, 2009)

PrairieGal said:


> I find MMM's hyperbole hilarious, and his lessons priceless.


His hyperbole is intended to be tongue in cheek; he's trying to be provocative to fit the cartoon character of Mr Money Mustache, but in real life the actual guy is a lot more reasonable and realistic.

He "retired" young but still works doing things he loves (building houses, writing his blog); his point is that he could quit doing those things if he wanted to, he's not depending on them for income, so in that sense he considers himself retired. If you retired at 31, you probably wouldn't want to spend the next 60 years sitting on your bum or playing golf either.


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## Nemo2 (Mar 1, 2012)

brad said:


> If you retired at 31, you probably wouldn't want to spend the next 60 years sitting on your bum or playing golf either.


Oh, I dunno, I have a friend who quit work at 35, (he turns 63 next month); he plays a little golf, he and his wife are gone from Canada six months of the year.....right now they're in Bermuda.......I don't hear him/them complaining of boredom.


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## brad (May 22, 2009)

Nemo2 said:


> Oh, I dunno, I have a friend who quit work at 35, (he turns 63 next month); he plays a little golf, he and his wife are gone from Canada six months of the year.....right now they're in Bermuda.......I don't hear him/them complaining of boredom.


If that's the lifestyle they want, that's great! Some people have criticized MMM because he still does things that bring in money, so in their minds that means he's still working and not truly retired. He wrote a great riposte to that argument in one of his blog posts last year, but the upshot is that he views retirement as an opportunity to do what you want to do, not what you have to do. He likes building houses and writing his blog, so that's what he happens to do in his retirement instead of playing golf. In his mind there's no difference. If you loved playing golf and had an opportunity to earn money by playing golf in your retirement, most people would probably choose to earn money.


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## Ihatetaxes (May 5, 2010)

I read and enjoy MMM. I often don't agree with some of what he has to say but I do agree with the basic premise - most people live beyond their means and are often slaves to careers they don't love to support their consumerism.

I also think this guy pretty much does still have a full time job that makes him quite a bit of income - the blog. Huge traffic and interest from other publications lead to articles like this... http://nymag.com/daily/intelligencer/2014/11/mr-money-mustache-spend-like-youre-poor.html


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## donald (Apr 18, 2011)

I read his post about his 'carpentry' jobs and it makes me wonder....
Being in construction and owning a company something tells me he is likely skirting some problems in this industry(ie:working unregulated or in the 'under ground' carpentry market)
This could be unfounded but i wonder if he is licensed/insured/pays taxes(gst)/pays into workers comp etc.
Anytime i have ever been hired for my services(private owner or a prime contractor)it's not what i would exactly describe as 'retirement'
If your running a legal business follow all laws and codes etc it is not this 'care free' bliss he likes to say it is.
I am speculating but being in trades(making a living/employing others)nothing bother's me more than the unlicensed/unregulated contractor.
He was advocating people to learn their own plumbing even(plumbing a house is not something you just 'wing')there is a reason it takes 4 yr of technical college and a journeyman plumber would cringe reading some of his posts(this is a direct quote on a reply of his''learn to do your own plumbing,and do it all with pex,between this and the black abs drain pipes you gain infinite power over sinks,kitchens and bathrooms and never have to pay an 80 dollar a hr plumber ever again,the stuff is as fun and easy to work with as lego'yeah ok MMM........good lord
he has a cowboy way about him.


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## banjopete (Feb 4, 2014)

He's just thumbing his nose at the average joe and I think the hyperbole is needed, on average. He would cringe at how well his homeland is doing these days with our ridiculous house price to household earnings ratios and the commutes many endure. I think he's a breath of fresh air and I think he also makes a boatload off his blog as a result. I don't begrudge him his success and I think he's influenced a lot of people in a good way doing it.


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## sags (May 15, 2010)

My uncle "retired" at age 15.

My mom (his sister) said he just lit out one day and never came home.............except for showing up once in blue moon for a short visit.

Nobody knew when he was coming.............but my dad always knew when he was leaving.

Dad said that to get my uncle moving along down the road to the next stop...........all he had to do was mention some work lined up for the next day.

At the crack of dawn..............old uncle was long gone. No goodbyes..........not even a "see ya later".

Lived his whole adult life on the road, he did..........doing odd jobs and living a hobo's life. Road the freight trains and had a hundred stories to tell about the big world. 

We kids............we always loved to see him.

Nobody knew what happened to him. He just stopped coming around. Once in a while we would get a postcard from somewhere in the world.

He must have made a final stop somewhere out there.

I just remember.............he was always smiling and laughing.

Anyone can retire...........whenever they want.

It just depends on what kind of lifestyle they want to live.

To me........living is what life is all about.......spend or save.........work long hours or be a bum.........whatever makes you happy.


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## indexxx (Oct 31, 2011)

sags said:


> My uncle "retired" at age 15.
> 
> My mom (his sister) said he just lit out one day and never came home.............except for showing up once in blue moon for a short visit.
> 
> ...


The happiest I ever was in my life was being a street musician in Europe for nine months. No keys, no residency, no car, no bills, utter freedom to go where and whence I wished. All I did was travel, shoot photographs, play music, hike, and work on a novel. My only expense was food and a hostel bed which I easily covered from my earnings as a busker, and then when I got tired of a city I'd just buy a cheap ticket somewhere. The only thing that stops me from doing it forever is that I hated living in hostels after so long- always noisy, drunk people everywhere and you don't have a place to leave your stuff. 

It was magical.
https://www.youtube.com/watch?v=C_4IjjiX44k


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## Nemo2 (Mar 1, 2012)

^ :encouragement:


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