The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

How to retire early, even with 2 kids! Blah blah blah...

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
31,186
116,253
3,751
Fountain Hills, AZ
For the love of God, I'm growing tired of these stories.

Another compound interest scam story with the survivor bias front and center..

How to retire in your 30s or 40s—even if you have kids

On a closer look, they aren't even retired. The wife is working for health insurance and I'm not even sure how the numbers add up. Without the wife's job, a health insurance plan for 2 adults and 2 kids on the ACA.gov website would be in the THOUSANDS!

upload_2018-8-20_9-15-57.png
Almost feels like there is an unmentioned inheritance somewhere and that the wife HAD to go back to work because the insurance cost was so ridiculous.

Even the commenters are skeptical... which to me, is even a bigger red flag.

ADDED:

 

Don't like ads? Remove them while supporting the forum. Subscribe.

lludwig

Gold Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Aug 18, 2018
406
1,132
361
New York
Unfortunately, there are many of these PF bloggers at the financial conference I go to FINCON. While overall a great conference I have to weed through these types of posers.

A big one is Mr. Money Mustashe and his ilk.
 
  • Thread starter
  • Admin
  • #5

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
31,186
116,253
3,751
Fountain Hills, AZ

lludwig

Gold Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Aug 18, 2018
406
1,132
361
New York
Ah yes! That story made it into my book Unscripted whereas I dig deep into the compound interest narrative.

Oh shit forgot about that part in the book :) I just knew about it personally as well and rocked a few people in the PF space.
 

MTEE1985

Platinum Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jun 12, 2018
658
2,677
652
Arizona
Reminds me too of the “frugalwoods” who’s book I saw at the store the other day. “Retired” early to live and preach a life of Craigslist purchases and dumpster diving. And as with most of these and others that Unscripted points out, they make a great living by NOT practicing what they preach.
 

MTEE1985

Platinum Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jun 12, 2018
658
2,677
652
Arizona
On a closer look, they aren't even retired. The wife is working

Funny how probably 99% of these stories one if not both are still working but they hide behind platitudes like “loving their job” or “because it’s making a difference” or as mentioned above “healthcare”
 

socaldude

Platinum Contributor
Read Millionaire Fastlane
Speedway Pass
Jan 10, 2012
1,689
3,763
896
San Diego, CA
It seem like these days they will publish anything without verifying anything.

The couple was making a little over $100k combined and yet they had $1.3 million already saved up? And he was 33? Thats like working since you are 23 years old and both not having any expenses.

Usually when things don't add up it's probably not true or something intentionally left out.
 

Michael1359

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Sep 8, 2014
56
52
61
51
Reminds me too of the “frugalwoods” who’s book I saw at the store the other day. “Retired” early to live and preach a life of Craigslist purchases and dumpster diving. And as with most of these and others that Unscripted points out, they make a great living by NOT practicing what they preach.

Dumpster diving is not a retirement plan I want![emoji23][emoji23]


Sent from my iPhone using Tapatalk
 

Don't like ads? Remove them while supporting the forum. Subscribe.

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
31,186
116,253
3,751
Fountain Hills, AZ
they make a great living by NOT practicing what they preach.

Ha Ha...

PF Blogger: "Get rich quick is BS! If you save $100/mo for 50 years, you'll get rich slow and retire rich!"
PF Blogger sells blog for $10,000,000 and doesn't see the irony.
 

socaldude

Platinum Contributor
Read Millionaire Fastlane
Speedway Pass
Jan 10, 2012
1,689
3,763
896
San Diego, CA
"McCurry used a 3.5% rule. That is, he focused on building up enough savings such that withdrawing 3.5% each year from his nest egg would cover his family’s current annual spending of $40,000. “That’s the point where I said, ‘Yeah, the finances will work,’” he says."

It seems like these days now they are just making shit up. The 3.5% rule? Rule from where? Who?

High probability portfolio? Where do they get this stuff from?

They put a million dollars in just all stocks?
 

Computerchest

New Contributor
I've Read UNSCRIPTED
Jul 4, 2018
10
11
16
"How do you invest your money?
McCurry:
We’re 90% in stocks. … We’ve got about five years of living expenses between cash, bonds and CDs."
90% in stocks, brave guy. Would love to hear an initial planning meeting with a swiss banking wealth management firm and see their reaction (if his goal is to fund his family with these funds).
Funny how these articles don't come with a warning, first time I have seen ones like this, usually sticking with Bloomberg/Zerohedge/Earnings reports don't expose you to them.
 

lludwig

Gold Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Aug 18, 2018
406
1,132
361
New York
Full disclosure, McCurry did write in fact for my site. We hired him for his tax articles which were pretty good IMHO.

After writing just a few articles outside of taxes, I started looking at his background and yes it didn't add up when I started looking closer at his site.

His returns were from either:
  1. Large returns he got (like 15%+/annually)
  2. Made much more than what he was stating (ie off the books to help decrease taxes) from odd jobs.
  3. Partially inherited money
This is all estimates since details aren't revealed.

This isn't even including a home purchase, or putting money in 529 accounts for three children.

If I was a betting man I would go with 2 and/or 3.

So something wasn't adding up. So I too would like to know how he exactly did it.
 
Last edited:

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
31,186
116,253
3,751
Fountain Hills, AZ

404profound

Platinum Contributor
I've Read UNSCRIPTED
Speedway Pass
Aug 27, 2017
1,493
3,001
772
Desert of Desertion
Just out of curiosity, what do you find troubling about Mr Money Mustache? (serious question from occasional reader of his blog)

He singularly focuses on frugality. He makes no mention of money systems, or serious innovation / value contribution to make more money. He is all about making the most of a pittance.
 

socaldude

Platinum Contributor
Read Millionaire Fastlane
Speedway Pass
Jan 10, 2012
1,689
3,763
896
San Diego, CA
He singularly focuses on frugality

it's really hard to be a fan of a personal finance philosophy or blogger that never addresses the problem of income.

You always need an income in life cause you always have expenses.

Most personal finance these days just revolves around cutting expenses.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

The Abundant Man

Gold Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jul 3, 2018
1,435
2,075
559
it's really hard to be a fan of a personal finance philosophy or blogger that never addresses the problem of income.

You always need an income in life cause you always have expenses.

Most personal finance these days just revolves around cutting expenses.
If I wanted to cut expenses I'd go live in the jungles of the Amazon Rainforest
 

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
31,186
116,253
3,751
Fountain Hills, AZ

jpmartin

Jedi Master
I've Read UNSCRIPTED
Sep 7, 2013
297
239
120

:rofl:
 

lludwig

Gold Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Aug 18, 2018
406
1,132
361
New York
Just out of curiosity, what do you find troubling about Mr Money Mustache? (serious question from occasional reader of his blog)

Because he himself makes at least $400k/year from his very site stating how to live off of $30k/year and how is bikes to f*cking everywhere and goes to the local library to rent his videos and books.

Mind you he lives in Colorado. He isn't biking in the winter! I get the self-sufficient and independent but most FIRE (Financially Independent/Retire Early) individuals aren't "retired" by any sense of the word.
 

lludwig

Gold Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Aug 18, 2018
406
1,132
361
New York
Another popular site The Simple Dollar once had an article of how to save money on xmas wrapping paper to save money by using newspaper! Or the other article I remember reading on how to make your own soap!

Stuff like this just drives me batty with personal finance bloggers.

Focus on generating more income. There's only sooo much fat you can cut before you are sacrificing yourself. But that's a common theme in society.

Why I Don't Budget and the Three Things You Should Focus on Instead
 
Last edited:

The Abundant Man

Gold Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jul 3, 2018
1,435
2,075
559
Another popular site The Simple Dollar once had an article of how to save money on xmas wrapping paper to save money by using newspaper! Or the other article I remember reading on making your own soap!

Stuff like this just drives me batty with personal finance bloggers.

Focus on generating more income. There's only sooo much fat you can cut before you are sacrificing yourself. But that's a common them in society.

Why I Don't Budget and the Three Things You Should Focus on Instead
I agree with this. It's not a saving problem. It's an income problem
 

Computerchest

New Contributor
I've Read UNSCRIPTED
Jul 4, 2018
10
11
16
If you simply think of your personal finances in the same way a CEO thinks about a business you would realise, there is only so much you can trim from the bottom line before you have to think about increasing the top line too (which you should be thinking about anyway).
 

Computerchest

New Contributor
I've Read UNSCRIPTED
Jul 4, 2018
10
11
16
Finally did a video on compound-interest...


And if anyone wants to read that chapter (free, no email required) visit this page:

The Compound Interest Scam: Truth VS Reality



Just thinking about having 90% of my NW in stocks gives me indigestion.

Another great Video :thumbsup: Even a basic level of knowledge on portfolio theory, would give advice on a more sensible allocation. The fact they are promoting themselves as role models worries me...
 

Sponsored Offers

  • Sticky
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2021
Yeah, your youtube channel is incredible and all the videos I have seen so far are really great...
  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
Finally! I just launched a short story on Kindle (FREE if you have Kindle Unlimited)! After...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
I planned to make a separate post for this video but it is useful here as well for anyone...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Last promo of the year.. Get the training you need now or miss it. Promo Code: FINALHOUR...
  • Sticky
MARKETPLACE Kill Bigger Incubator
UPDATED POST: Hey Guys! I wanted to give a quick update on what this program has become. In...
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Are you looking for a new, lesser-known but potentially very lucrative source of leads to your...



Forum Sponsor

sponsor

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom