YouSaid · the spoken record

Pete Adeney

lines on the record: 103
first: 2020-10-23
most recent: 2020-10-23
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Difference in the amount of consumption you do on behalf of your child just depending on how you raise them, depending on what activities they're into and what kind of stuff you buy them and how you train them as well. If you train them like, hey, we're rich and rich people get to buy whatever they want, then you're going to raise a super consumer and more, the richer you are. Whereas if you teach them that there's a balance and give them a little bit of biology and science in their upbringing, then they're going to have a value system that prevents them from being nearly as destructive and yet they'll probably still have more fun in the world as well.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Oh, yeah, kids are definitely a huge form of consumption. Like if you're a rich world resident and you have a kid, that's another hundred years of rich world lifestyle going on there. But I'm not a pure person. I strategically indulge in fun stuff. And my wife and I knew we wanted to have kids. And we just happened to feel that one was the right number for us. And I'm not judgmental of against other people. But I think it just is one of the things to throw into your equation of like child raising. Like, should I have one or maybe 13? We're like, well, if consumption of natural resources is a factor, you might not have 13. But if it's not a factor, you know, no judgment from me. And so we got one. And then you can have probably like a 4x, you know, 400%.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“This case, you were the person in need because you're this accomplished guy who has yet a hole in your life where you haven't actually built a house yet. So I felt sorry for you. That's all.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Well, I was assuming we would build something at your... Pieces of the world where you need a structure because you don't need to like build stuff for me. That's not.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“That's how you learn, though. I'll give you the nail gun and then you'll make some mistakes and we'll bring a welder and then you'll like explode some stuff. But later you'll be making fine welding lines.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Made and the fireplace that I put in there and the heating system that I designed pumping water under my floors and heating up my feet. I'm like, this is the most satisfying thing I could possibly experience. So yeah, you should figure out a way to build something, at least like a shed quarters or like a man cave type thing in your backyard. And I have this thing called carpentourism where I go out to people in need and build fun stuff with them and teach them how to build. If you ever want to do a teamwork Tim Ferris Studio, then I'm making the software now. It would make quite an interesting story.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Dude, yeah, Kevin Kelly is right. And this is why as a fellow lifestyle guru, admittedly a junior lifestyle guru, I spend most of my time doing manual labor, even though I can make infinite money typing shit into the computer and publishing it to the cult following. I hardly do that at all because it doesn't work for everybody, but certain people get incredible satisfaction out of building because it's like the Zen aspect of it. There's like physical and mental and problem solving. It's like what a human was made to do. So Kevin is right. In fact, the house that I live in, I also built before I built the studio, I built as a slight exaggeration because there was a bit of a shell. I tore it down to like a brick shell and then rebuilt it to a different shape. But and every time, like every night, especially in the winter here when it snows, I look up at the trees and like the snow falling on the roof that I”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“So I built the studio and I did it all myself because I know from experience that this manual labor and solving physical problems is one of the happiest things I can possibly do, just like hundreds of hours of lifting and sweating and digging and all these amazing, useful outdoor things with friends. And now I'm in it. I'm recording a Tim Ferris podcast in my studio, surrounded by drums and bass and guitar and watching the trees sway outside. So this has been a really genuine happiness boosting expenditure of money. And it's brought me happiness pretty much from the day I broke ground on this, you know, this piece of dirt. So no regrets there, even though that was a lot more than a few dinners out that I spent on this thing.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Our style of living. So I was genuinely tripping over stuff a bit and always having to move things around. And I had some of my equipment out in the back, like my table saw. I would have to live under a tarp during the rear Colorado precipitation events. And I realized, you know, more space would actually solve this problem. And I'd always wanted to have a detached studio anyway to play music in because I don't want to have to drown out my family's ears when I'm playing bad rock music with my friends.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, well, that's a perfect follow up question because I'm talking to you right now in this studio building that I made over the process of the last year. It's kind of roughly like a 400 square foot modernist thing with a lot of windows and overlooking this nice forested park behind my house. So I had a consistent problem after I moved to this current house. We live in in 2013.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“And finally, I ask myself, is this removing a negative in my life? Because it's pretty well studied that happiness is not very much affected by adding positives to your life. It's mostly, especially in a rich world environment like we live, it's mostly accomplished by removing things that are a strong negative to every day. So getting myself like a remote control photography drone is unlikely to make me happier because my life doesn't currently suck due to the absence of photography drone. Quadcopter thingies. So that's, you know, and whereas if there's something that every day I'm like, damn it, I just wish I didn't always trip over this broken dishwasher or whatever, then replacing your dishwasher is probably going to be a happiness boosting proposition.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, well, usually I try to start with like, no, you weenie. What do you think? What kind of consumer are you? You know, like just a little bit of mental beatdown to shut off the easiest things. That's what keeps me from buying a Tesla Model S or something like that because even though I think it's a great car, I support it. I know for sure that wouldn't make me any happier because I don't even have anything to do with it. Like I don't drive really. So obvious stuff gets shut off. But then when you get into like things that you're pretty sure you want, then you just think about it for longer, procrastinate a little bit, see if the desire goes away a bit, and then consider how much space that thing is going to take up in my limited space of my studio, for example. And then imagine how I would feel if it broke because a lot of stuff does break, even if you have high quality gear and it's really annoying to deal with things that break. And if you have to warranty fix it.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“So a town within a town based on the ideas of co-housing or something like that. So these guy ideas are still swimming around in my head. I haven't solved the problem of how to deal with surplus money efficiently. But once I do, then I will start having some fun with it. And then I'll probably also start trying to make more money, like have the blog make more money because then I'll have a use for it.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Of society's wealth and have it go somewhere better if the whole society got more excited about a different way of living. So that's why I haven't just given away all the money yet, because I feel like, for example, what if I could start like a little mini town where we do things really awesomely? And this, of course, sounds a bit like a cult, like, oh yeah, let's start a commune.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, and I think one of those two founders sent me an email after I sent my donation to them. And they seem really, really, really sharp people. So that's one useful thing to do with surplus money. The only reason I have some of it still sitting in my investment accounts and it's still rolling in, of course, because I still have this unexpected blog income, is I feel like I can leverage the attention of all these people for something good and that would be bigger than just donating like, you know, a million dollars per whatever period to standard causes. I think I would like to create kind of like one of those tipping point effects in the US that might, for example, tip us more towards bike-based transfer temperature instead of car-based and potentially save like billions or trillions of dollars.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, that's another thing that has to be optimized because I feel that money is such a valuable resource. So I'm still working on it. So I try to, I've been doing small donations like paying for more stuff when other people I know can't afford it. And then I did a medium-sized donation with the effect of, under the effective altruism movement that I know that you've covered at one point in your tools of Titan's book”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“And if you have limited money, then having to go to work for a longer time is a genuine source of non-fun. And thus spending less money is going to give you more of something that's more fun, which is time. And then you're all set. So that's a win. And then now in this post work world where I've stumbled into more money than I could have imagined having, my spending hasn't changed. And that's just a sign that I got some of the decisions approximately right to begin with. And if I had started buying more stuff afterwards, that might have been a sign that I didn't really do the math right to begin with.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, well, it is the math sometimes explicit like that and sometimes more implicit that drives most of my decisions. And that's why I'm surprised, like anybody who says that Mr. Money Mustache and Tim Ferris are opposites in any kind of way. I think they're not really understanding the picture because it's really just an optimization process, right? I'm not opposed to spending money. My only limitations on spending money are number one, it has to make me happy. And number two, a factor in my personal happiness is like resource consumption because I kind of know the numbers behind all the costs to other people, like into the earth of everything that I buy. So that kind of rules out certain types of spending that other non-science-y, non-environmentalist people might feel okay about. But if you push that bit aside, it's all just about having the maximum amount of fun.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, because that way you can write who can write his story and then I can add my stuff right on the side. And that kind of corrects for the one-sidedness of normal New Yorker journalism.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Business culture, but in general, I just love it here and I love the giant range of geographies too compared to Canada, which is kind of just a string of cities along the border. In the US, you have a grid of cities and islands that range from like Arctic tundra to tropical islands and coconut shell, tops and everything like that. It's just a lot more variety and excitement here.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Just love it here. It goes, it's kind of like the furnace of the world. Like many of the problems in the US that stem from under-regulation are also its strengths in the sense that you can just start stuff up and then nobody even notices that you're doing it and you can have a giant company before anyone's even noticed. And it's just the entrepreneurial and the optimism and the lack of rules is kind of it goes along with my personality personality because I hate rules. I'm really in favor of people self-regulating in the sense that don't be a jerk to your neighbor and don't pollute the world and everything like that, which is the part that annoys me about some of the U.S.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“I'm fairly Mr. Money Mustache. I'm more sensitive. Here's the thing like I don't lecture people in real life about, you know, like I don't actually smash my fist through the driver window of pickup trucks and honk the horns with their foreheads and tell them they shouldn't be going through the drive-through with this stupid off-road diesel thing. But I think it, and I ride it. So yeah, the Mr. Morning Mustache is a little more violent in his writing and confrontational. And I enjoy that because it helps me remain more calm in my real life because nobody wants to be lectured in real life about even if you have some ideas you want to share with them, you have to wait for them to come to you. And when you're running a blog, they have come to you by definition, which means they're a lot more open to having their faces punched in a literal sense.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Well, the lines are pretty fine, pretty, you know, I don't know if there's like a really formal difference, but he's probably a bit more perfect than me. Like, I'll complain occasionally. And if I don't catch myself and, you know, I don't actually complain on the blog about this, the world is being mean to me. But in general, because I read Magic of Thinking Big so long ago and internalized it so much and I kind of ran my work career and my, you know, my international adventures of moving to the US and everything under those assumptions, I feel like”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“And Dr. Schwartz doesn't do any of that shit. And in fact, his writing style really inspired me. And like when I write as Mr. Morning Mustache, I'm thinking, I'm like channeling David J. Schwartz. And he always starts off every story with this little anecdote that makes him sound like casual and powerful. He's like, I was relaxing in my lounge one day when a few of my employees came in for questions. You got to read it again. I'm going to read you again. All right.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Last time was probably about five years ago, and I found it was just as good. I just love the overly simple examples. Imagine that there's two little gentlemen in your head. There's Mr. Success and Mr. Defeat. Mr. Defeat always wants to throw some oil and sand into your crankcase of your mind. And it's just like these, you know, I find that most, maybe this is my engineer's brain handicap again, but I really get annoyed by overly flowery language, like kind of Harper's magazine Atlantic stuff where people just go on for like eight pages to cover something that could have fit in a couple sentences.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“That's why it's good, though. It is cheesy. It's like gorgeously delightfully cheesy, and you're like, yes, I am a powerful 1950s man as well. I'm going to conduct some business.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Wake themselves up and start turning into more of like a positive, less depressed person is this 1950s classic called The Magic of Thinking Big. I've recommended that to so many friends because I stumbled across it when I was like 15 years old and it was really, really old even then. And it's like this 1950s cheesy, stereotypical, like man's world has some flaws in that way, but that just makes it more funny. And it's a great way to just remind yourself like, oh, when you think big and act confident and sparkly, then it's amazing how much stuff actually goes better for you. So those are my three.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“The author Ashley Vance, I think it's called Elon Musk in the Quest for a Fantastic Future. That book I read and it talks about Elon as a little kid and growing up. And it's like, that's exactly how I was as a kid. And I thought I was the only one. And he has this feeling where the world is incredibly illogical and no one's listening and he just wants to just fucking change it. Like I'm just going to do everything myself then. And I can really everything except for the fact that he actually does it and I don't, I can relate completely to the feeling of that book. And finally, I really, really old fashioned book. If someone just wants to.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I don't have the ultimate, I'm not the ultimate book connoisseur. I don't spend as much, I don't burn through as many books as some people. But in recent months, three books that have had a pretty big impact on me that I'm about to recommend to people, it really depends on who you're talking to. So if you're into changing the world for the better, one book that's spectacularly opened up my mind is this one called Happy City by an author called Charles Montgomery. And it kind of just pulls back the curtain on how we're wasting most of our resources and our human and money resources on building up the country into a spectacularly inefficient asphalt jungle. So that's for urban planning nerds and fixing the world nerds. But for people who feel like they personally want to, they're wondering why they're such a weirdo. I'm a big fan of the book on Elon Musk.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“So true, walking is so powerful and so underrated. Like your brain just goes into overdrive. All of your problems sort of start to solve themselves in the background. And for people who don't do it regularly, like an hour a day of walking to genuinely go somewhere, they just discount it because they haven't even experienced this incredible power. So I'm glad we're both on that train. That shoe”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“To work is anything under an hour. Whereas I think I encourage people to take a really, really hard line approach on that because it's a giant factor in life happiness and fitness and money. And my rule is you should never get a job unless you're at gunpoint that requires you to drive to it, like either find a new job, find a place to live near that job. I mean, even if it requires moving to a new city or a new country in the long run, you just got to keep that nagging thing in your mind like, okay, I drive to work now, but this is not optimal in the long run. I will optimize away car dependence. And yeah, just start with that one. And then you can move on. You can read stuff on my blog and figure out how to cut your grocery costs down and your housing and everything like that too. But I really like the mobility because there's fitness involved too, you know, and there's happiness of forcing yourself out into the fresh air every morning as soon as you give up the cake.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Of optimization, you can just start with the stuff that costs you a lot of money. So, my favorite one to be a bit repetitive is the car because the average middle income American spends like $12,000 per household, which is just on driving around in these gas-powered racing wheelchairs. And that's more than they even invest in their future. That's more than they're spending on the freedom. So step one, don't have a car that's worth more than about 10,000 bucks at the most unless you're at least like a single millionaire, preferably multi-millionaire, because you can get a great, perfectly great car that'll be trouble free for 10 plus years for under $5,000. So the reasonable ceiling would be $10. And that's already going to be a pretty giant thing for people. And then number two is don't use that car a lot. So everybody assumes that, you know, a short drive.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, right. And this might actually be a better answer for your earlier question too because as an engineer, like I was kind of born part engineer at least. And for me, optimization is really, really fun. It's like beautiful. And when something is not optimized and when something's inefficient, I actually find it offensive and ugly. So I had a lot of joy. I get a lot of joy from looking at each of my life spending decisions and being comparing it like, okay, if I get this car, I'd probably make me about this happy and this car would make me this much happy, whereas if I ride my bike, it does this other thing and you apply that to food and housing and transportation and clothing, travel, exercise. And then all these categories can become super efficient where you end up getting incredible happiness out of them. And the cost can sometimes be not only low, but sometimes you'll get paid for doing stuff that other people spend tens of thousands of dollars to do. So if you're a beginner at this”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Oh, yeah, well, right now my coffee is some kind of organic-y fair trade thing, but in large quantity from Costco, which is obviously a lot cheaper than getting like a Starbucks equivalent every morning. And yeah, the nuts are from Costco as well now that you mention it.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Oh yeah, well, my breakfast was a fancy black espresso with foamed milk and coconut oil foamed into there too, and then some dark chocolate, like 90% dark chocolate and some nuts, almonds, and cashews and stuff. And it's not exactly related to low expenditure”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“I don't have my spending set up for the minimal level. I have it set up for the maximum amount that I can possibly spend and get value out of it, because it's easy to make money. So I set my spending at the maximum happiness level and then stopped spending when I stopped getting more happiness. So that's really the fundamental mistake. And then as for the non-media world, they're a little bit more suspicious. Like they just think I'm making everything up and I don't even. I never did any of this stuff that I say I did in the first place. So then it's more of a conspiracy theory if you're reading like the comment section of MSN, which you should never do”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Well, the misconceptions are sort of two different things. From the media side, they often Assume, well, I mean, the ones that aren't complementary, they assume, hey, there's this crazy guy, and he's just a lifestyle guru, just like another junior Tim Ferris trying to get everybody excited about his crazy ideas, and he's not really retired. Or they say, yeah, he made so much money, but that doesn't apply to the regular person when they're trying to make it on like $50,000 a year salary. Or what about people with more kids? So the media don't understand. They often assume some kind of extreme frugality that would be undesirable to live under. And that's really inaccurate. And I work pretty hard to fight it because”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“And that nest egg that's pumping out dividends and returns just adds extra confidence so they can have more fun in the process.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“And in the worst case scenario, you want to still not run out of money. So that's where the 4% comes from, who have gotten you through a lot of the worst case scenarios. There were some situations when you could have spent up to 5 or 7 percent of your portfolio every year and still not run out. If you had happened to retire just before a big stock market boom that went on for a long time. But most people don't like taking a huge amount of risk. So the 4% or 3.5 if you want to be extra conservative with today's stock market valuations, that's more of a safety net. And it's really just a mental crutch because what I find is that when people retire early, almost everybody, like over 95% of people still have a lot of interest and passions, and then they're pretty good at making money if they manage to save up that much in the first place. So they still make money in their quote retirement. They just have a lot more fun doing it.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“It is, yeah, it's kind of based on a really long-term study of the stock market dating back to the 1920s or something like that, or maybe even earlier. And the idea is it goes up some years, it goes down some years, consistently pays dividends.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“To quit forever. And that's a lot less than most people think. Most people, at least in my age group, they're shooting for the tens of millions type of range if they were to ever quit work early and they haven't really done the math on how easy it really is.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, this is a core piece of math that is very, it's widely known if you're a financial independence enthusiast, but it's almost completely secret to most of the rich world's population. So if you have a handle on your annual spending and you know how much you need to live on, all you need to do is save up 25 times that amount. And on the very, very conservative side, let's say 28 times that amount in conservative investments like a giant Vanguard index fund. And that's enough to fund you with passive income with a high degree of safety for the rest of your life. So if you have a, just keep the number simple, if you need to $30,000 to live on, multiply that by 25. And oh, darn, I'm giving myself a tricky math question. I think that's like $750,000 you'd need saved up or something like that.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Right, yeah, this is perfect reverse chronology, just like you planned it. Now we're back to the year 2005 and after working about a 10-year career in software engineering, my girlfriend, who is now my wife and I determined we had enough money saved up to live off the investment returns forever. So we just quit our regular cubicle jobs and just in time to have our baby boy at the time. And that was, of course, about 11 years ago. And we didn't even know this was a weird thing to do. We thought, oh yeah, of course, you know, when you get paid as much as we do, it only takes so long until you don't need to work anymore. And it was only after several years of retirement that we noticed that we were kind of oddballs and everybody else who earned the same amount of money was still broke.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“You just end up a lot healthier and wealthier and able to retire from mandatory work at a much earlier age in your life, which a lot of people are drawn in by the prospect of an extra four decades of freedom that they wouldn't have otherwise gotten.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Right. So the belief system, which I jokingly call mustachianism, it's kind of like a lifestyle and a fake religion. And the beliefs are that the United States especially is a ground zero of this consumer insanity that has overtaken all of our minds. And it's just causing people to behave in an irrational way and sort of sabotage their own ability to have a good life. For example, they work way more years than they have to because they're consuming a lot more crap than they have to without actually getting any life benefit about it over. And the same thing applies to the health, their health and their sanity and their mental health. Everyone's very inefficiently going about their lives. So the correction through mustachianism is just being a bit more thoughtful about this stuff and seeking efficiency in the way that you spend your money and make sure that you get fun out of it each time that you spend something and applying this.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“And just because that's my idea of a sense of humor. So it turns out if you want to start a cult, you need to just have a few key elements, like a recognizable leader, need to have a sense of us versus them, like, oh, we're an oppressed people and the rest of the world doesn't understand us. And a couple other things that helps to feel like you're virtuous and have some kind of good changing the world and the rest of the world needs your help. And yeah, so if you look at all the cults, including informal ones like Star Trek or Apple, there's always these same kind of characteristics. And I accidentally emulated those and in retrospect realized, hey, well, I guess that was a pretty good idea.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Well, it's funny you should ask that because the first time I ever did a talk, like a big public talk, it was to a conference of bloggers. It's called FinCon, and I just stopped by because it was in Denver. And I had realized that this blog was kind of behaving like a cult. And then I looked up like, what are the properties of a cult? And then I read some articles and maybe a book or two on cults. And I realized, man, I've accidentally done it.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“Shopify. Oh, yeah. I knew that. Yeah. And the beaver tail, that's the right way to do Ottawa is skating and beaver tails.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“And it was a little weird because I didn't even get to meet anybody. And that was the first time I became uncomfortable with like, oh, well, I didn't want to be one of those people where you don't even meet everybody who wants to meet you.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT
“I think it's kind of been like one of those frog and hot water situations where it just gradually happens and then Occasionally, especially when my friends stop in on a money mustache event, they're like, dude, you're a cult leader. Did you realize that? But it didn't really happen any specific time. I would say the first time I was really surprised by the effects of blogging was when I had a guest post on this awesome previous blog called Early Retirement Extreme and a whole bunch of this Jacob bloggers, fans came over to mine my blog and just flooded it and just crawled and read every single article and started putting in all these comments and then it was really a rewarding thing and it just kept going from there. It's sort of a self-motivating thing. And then the other incident was probably we had a party once blog related meetup in Ottawa, Canada, which is kind of one of my homelands. And all these people came like 200 people and it overflowed into the backyard of this like unwitting host place.”
2020-10-23 · The Tim Ferriss Show · #475: Mr. Money Mustache — Living Beautifully on $25-27K Per Year (Repost) · IDENTIFIED FROM THE TRANSCRIPT