With the start of the new month we decided to feature a young millionaire who retired by the age of 30. And seeing as it is November or as many people know the month, Movember it is only appropriate that we feature a Millionaire with a Mustache.
Who better to feature than Mr Money Mustache, a millionaire living in Colorado who managed to retire at age 30 after launching a successful financial success blog called Mr. Money Mustache. Currently generating 400,000 unique visitors a month he has certainly been able to stay true to his sites slogan of: “Financial Freedom Through Baddassisty”
The major reason for Mr Money Mustaches success is that they tackled a very real and very sensitive topic head on, the concept of living beyond our means, and comes from the viewpoint of having “a frugal yet Badass life of leisure”. The author regarding prevalent spending habits as being centered on living “ridiculously expensive lifestyles while thinking they were completely normal, and then being baffled when they had no money left over to buy their own freedom. All while being so busy that they didn’t even have time to understand the science behind why this behavior is trashing the very home that makes our lives even possible**.
Simple concept? He turned his idea into a multi million dollar industry and the most amazing thing is he can leave the website to its own means and he will still earn enough money every month to live like a millionaire and be financially free.
This is something that each and every person is guilty of, we need to be seen at all of the events, seen wearing the fashionable clothes and in general spending way too much. Take a look at Mr Money Mustaches First article and see if any of his points apply to you?
***Meet Mr. Money Mustache – retired age 30
this is a blog about money. We’re going to cover a lot of ground and make plenty of amusing side trips into lifestyle and culture issues, but when it boils down to it, we are talking about money, and the freedom it can give you. Freedom from worry, and freedom from most forms of bullshit. And the best way to illustrate such freedom is to have an opinionated but wise role model guide you through your daily life from this point onwards. That role model is ME, Mr. Money Mustache.
I’m going to teach you a radical new way to think about and enjoy money that will get you off of your current debt-powered treadmill and into a lifestyle that is completely unimaginable to most people where I live, which happens to be in the United States, ground zero for self-imposed treadmills.
Once you are off the mill, you’ll feel like Neo did when he unplugged the suction cups from his pale naked body in The Matrix and looked around at the other imprisoned humans. “Holy Shit!”, you will say. “I’ve been living in this ridiculous slave world and never noticed.. and everyone else still is! WAKE UP DRONE PEOPLE!!!“.
You will suddenly be able to fly freely through the world, free from having to work for a living, able to start living life as you choose, doing exotic things like spending time raising your young children, taking a 3-week vacation each month, or just enjoying understated shows of leisure like sweeping your driveway in pajamas at 11am on a sunny Thursday morning.
Let’s talk about YOU first. If you are one of the 99% of working people I hear and read about every day, you are in a bad place right now. Young folks today seem to live somewhere on a Spectrum of Financial Idiocy.
” I am…
- Retired, and my money situation is perfect
- Still working, saving max in 401k, no loans on cars or credit cards, paying regular mortgage payments
- Same as above but add one or more car loans
- Same as above but not quite able to max out 401k plans due to life’s little expenses
- Same as above but have a few credit cards that I’m making payments on
- Can’t always make all my payments, got some bad marks on my credit score.. I’d be screwed if I lose my job now
- Everything has collapsed – losing my house and possessions, can’t find work, debt is more than I can pay off in a lifetime, why is the world so cruel to me!?
So your goal is to move up this spectrum. Everyone can do it. But most people think they can’t because they’re still stuck in the Matrix. They blame “the economy” or other bullshit external factors, when really the only problem is they aren’t listening hard enough to Mr. Money Mustache. Become a regular reader of this blog and you’ll move up fast. See you at #1.
The above is a concept that I have heard from many a finance planner or motivational millionaire mindset type speaker but never has it been put so bluntly. In a nutshell: “To achieve financial freedom you need to work on growing your money and improving your financial situation on a daily basis, rather than being stuck trying to dig yourself out of an ever growing hole”
The reality is that debt is never going to go away, but unless you are growing your monthly income each month you will not be able to empower yourself to get out of the debt you are in.
One simple tip – take 10% of your salary, regardless of the debt you are in and invest the money into a passive income generating mechanism. You will be amazed to see just how quickly that mechanism will grow and the more it grows the more you can use that mechanism to bail yourself out of the debt you are in.
An extract from the Young Millionaires Bible