Good News Everyone!
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Mr. Money Mustache on Financial Freedom
Today I want to share the work of Pete Adeney, known as Mr. Money Mustache. His blog is one of the most popular ones on the topic of FI/RE (financial independence/retire early) and he has created somewhat of a cult around these ideas, and calls his fans "The Mustachians". These are people who live extremely frugally, saving most of their income over a limited period so that they accumulate enough money in the bank to be able to live off the interest (let's say you are able to live off $40K a year, so to retire early you just need to accumulate $1 million dollars and invest them at let's say 8% interest. With 4% annual inflation you will be able to "forever" live off the 4% interest, which is $40,000. This is a simplified example to illustrate the concept, of course :)
This approach to personal finance is somewhat extreme though, so be prepared. Even for me at this point, a lot of it is a bit extreme. However, you know we here at Do the Opposite live by the principle of "do as much as you can" - which means the more you are able to do the better, but you don't have to be perfect in everything to succeed. Aim for the "good enough" for a start, and as you learn more about the subject, use your newly acquired knowledge to improve your day-to-day actions.
Here are some resources to learn more about Mr. Money Mustache and his ideas:
1) Video interview by Y Combinator (famous startup accelerator)
Don't Start a Blog, Start a Cult - Mr. Money Mustache
2) Podcast interview with Tim Ferriss
3) The blog
4) Start here to quickly learn about the FIRE ideas. If you want to take the long path, start here.
1) "The Sugar Conspiracy" by Ian Leslie
A lot of money has been spent by gigantic corporations to demonize fat and downplay the negative role of sugar on our health. We've grown to think that drinking pop (soda) drinks with over 40 grams of sugar in one small can is OK. There have been voices in the scientific community that tried to educate the general public of the dangers of sugar. One of these voices was John Yudkin, a British professor of nutrition, who sounded the "sugar" alarm in 1972.
2) "Bruce Lee’s Never-Before-Seen Writings on Willpower, Emotion, Reason, Memory, Imagination, and Confidence" by Maria Popova of "Brain Pickings"
I swear, the more I read about Bruce Lee, the more I want to read about Bruce Lee! He is unfortunately gone, but his wisdom lives on.
3) "Why Airlines Make Flights Longer on Purpose" by Kathryn B. Creedy
I was completely surprised by this one. It seemed counterproductive that airlines would increase the "time in air" for their flights - because that leads to more fuel burn, and what company wants to increase their own operating costs?
Not so simple. Airlines have made flights longer by adding "time padding" to them so that passengers would have a higher chance to get to where they want on time and thus complain less. The article explores complex issues airlines deal with as they go about the business of getting passengers from point A to point B.
Worn Wear by Patagonia
I was very happy when I found this website set up by Patagonia (clothing manufacturer)! It is a marketplace where they sell worn and refurbished clothing - amazing idea for ecology and sustainability. This helps introduce more people to the idea that wearing "second hand" clothing is OK. It is also cheaper to buy used.
Tweet that resonated with me:
Bonus tweet for the curious
"NO MORE. No more excuses. No more: "I'll start tomorrow." No more: "Just this once." No more accepting the shortfalls of my own will. No more taking the easy road. No more bowing down to whatever unhealthy or unproductive thoughts float through my mind."
― Jocko Willink, Discipline Equals Freedom: Field Manual
"Moral: Look fear in the face and it will cease to trouble you."
― Paramahansa Yogananda, Autobiography of a Yogi
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Keep doing the opposite,