Episode
#221: Mr. Money Mustache — Living Beautifully on $25-27K Per Year
1:51:16
Published: Mon Feb 13 2017
Description
Mr. Money Mustache (@mrmoneymustache -- Pete Adeney in real life) grew up in Canada in a family of mostly eccentric musicians. He worked in various tech companies before retiring at age 30. Pete, his wife, and their now eleven-year-old son live near Boulder, Colorado, and have not had real jobs since 2005. This begs the question of "How?" In essence, they accomplished this early retirement by optimizing all aspects of their lifestyle for maximal fun at minimal expense, and by using basic index-fund investing. Their average annual expenses total a mere $25-27,000, and they do not feel in want of anything. Since 2005, all three of them have explored a free-form life of interesting projects, side-businesses, and adventures. In 2011, Pete started writing the Mr. Money Mustache blog about his philosophy, which has grown to reach about 23 million different people (and 300 million page views) since its founding. It has become a worldwide cult phenomenon, with a self-organizing community and incredible news coverage. This episode explores his story, philosophies, and routines. Without further ado, please enjoy my conversation with the one and only Mr. Money Mustache, Pete Adeney. Show notes and links for this episode can be found at www.fourhourworkweek.com/podcast. This podcast is brought to you by Varidesk. You've probably heard of research concluding that sitting all day is terrible for you ("sitting is the new smoking" is a phrase I hear a lot). But standing all day isn't an option for everyone, either. My assistant and I have been enjoying the use of Varidesk, the middle ground that effortlessly converts your standard desk to a standing desk (and back again) in seconds. It comes fully assembled -- just take it out of the box, put it on your desktop, and go. Models start at just $175; check out Varidesk.com to see which one might be the right fit for you. It even comes with a 30-day, hassle-free return policy if you decide it's not your style. That's Varidesk.com. This podcast is also brought to you by Wealthfront. Wealthfront is a massively disruptive (in a good way) set-it-and-forget-it investing service, led by technologists from places like Apple and world-famous investors. It has exploded in popularity in the last two years and now has more than $5 billion under management. In fact, some of my good investor friends in Silicon Valley have millions of their own money in Wealthfront. Why? Because you can get services previously limited to the ultra-wealthy and only pay pennies on the dollar for them, and it's all through smarter software instead of retail locations and bloated sales teams. Check out wealthfront.com/tim, take their risk assessment quiz, which only takes 2-5 minutes, and they'll show you -- for free -- exactly the portfolio they'd put you in. If you want to just take their advice and do it yourself, you can. Or, as I would, you can set it and forget it. Well worth a few minutes: wealthfront.com/tim.***If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading the reviews!For show notes and past guests, please visit tim.blog/podcast.Sign up for Tim’s email newsletter (“5-Bullet Friday”) at tim.blog/friday.For transcripts of episodes, go to tim.blog/transcripts.Interested in sponsoring the podcast? Visit tim.blog/sponsor and fill out the form.Discover Tim’s books: tim.blog/books.Follow Tim:Twitter: twitter.com/tferriss Instagram: instagram.com/timferrissFacebook: facebook.com/timferriss YouTube: youtube.com/timferrissPast guests on The Tim Ferriss Show include Jerry Seinfeld, Hugh Jackman, Dr. Jane Goodall, LeBron James, Kevin Hart, Doris Kearns Goodwin, Jamie Foxx, Matthew McConaughey, Esther Perel, Elizabeth Gilbert, Terry Crews, Sia, Yuval Noah Harari, Malcolm Gladwell, Madeleine Albright, Cheryl Strayed, Jim Collins, Mary Karr, Maria Popova, Sam Harris, Michael Phelps, Bob Iger, Edward Norton, Arnold Schwarzenegger, Neil Strauss, Ken Burns, Maria Sharapova, Marc Andreessen, Neil Gaiman, Neil de Grasse Tyson, Jocko Willink, Daniel Ek, Kelly Slater, Dr. Peter Attia, Seth Godin, Howard Marks, Dr. Brené Brown, Eric Schmidt, Michael Lewis, Joe Gebbia, Michael Pollan, Dr. Jordan Peterson, Vince Vaughn, Brian Koppelman, Ramit Sethi, Dax Shepard, Tony Robbins, Jim Dethmer, Dan Harris, Ray Dalio, Naval Ravikant, Vitalik Buterin, Elizabeth Lesser, Amanda Palmer, Katie Haun, Sir Richard Branson, Chuck Palahniuk, Arianna Huffington, Reid Hoffman, Bill Burr, Whitney Cummings, Rick Rubin, Dr. Vivek Murthy, Darren Aronofsky, and many more.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Chapters
In this episode, Tim Ferriss talks about his popular email newsletter, "Five Bullet Friday," and how it provides short and action-packed content to millions of subscribers every week.
00:00 - 01:19 (01:19)
Summary
In this episode, Tim Ferriss talks about his popular email newsletter, "Five Bullet Friday," and how it provides short and action-packed content to millions of subscribers every week. He also shares insights on how he gets his podcast guests, who are some of the most amazing people in the world.
Episode#221: Mr. Money Mustache — Living Beautifully on $25-27K Per Year
PodcastThe Tim Ferriss Show
Pete Adeney, also known as Mr. Money Mustache, achieved financial independence and retired by the age of 30 by optimizing his lifestyle for maximal fun at minimal expense.
01:19 - 08:53 (07:33)
Summary
Pete Adeney, also known as Mr. Money Mustache, achieved financial independence and retired by the age of 30 by optimizing his lifestyle for maximal fun at minimal expense. In this podcast episode, he discusses his philosophy and how he achieved early retirement, along with a promotion for Athletic Greens.
Episode#221: Mr. Money Mustache — Living Beautifully on $25-27K Per Year
PodcastThe Tim Ferriss Show
Mr. Money Mustache discusses the belief system which he calls 'Mustachianism', a lifestyle that fights against the consumerist society of the US and promotes rationality to have a good life.
08:53 - 13:27 (04:33)
Summary
Mr. Money Mustache discusses the belief system which he calls 'Mustachianism', a lifestyle that fights against the consumerist society of the US and promotes rationality to have a good life. He also talks about his own experiences with his followers, who form a community that aims to change the world by helping others.
Episode#221: Mr. Money Mustache — Living Beautifully on $25-27K Per Year
PodcastThe Tim Ferriss Show
The math behind early retirement is simpler than most people think; with efficient spending and investing, it's possible to retire with as little as $750,000 in savings.
13:27 - 18:54 (05:26)
Summary
The math behind early retirement is simpler than most people think; with efficient spending and investing, it's possible to retire with as little as $750,000 in savings. The key is to accumulate 25 times your annual spending, which allows for a safe withdrawal rate of 4% annually.
Episode#221: Mr. Money Mustache — Living Beautifully on $25-27K Per Year
PodcastThe Tim Ferriss Show
Mr. Money Mustache dispels misconceptions from the media about his lifestyle, emphasizing that his spending is not set at a minimal level but rather for maximum value in order to live the happiest and most fulfilling life possible.
18:54 - 22:52 (03:58)
Summary
Mr. Money Mustache dispels misconceptions from the media about his lifestyle, emphasizing that his spending is not set at a minimal level but rather for maximum value in order to live the happiest and most fulfilling life possible.
Episode#221: Mr. Money Mustache — Living Beautifully on $25-27K Per Year
PodcastThe Tim Ferriss Show
In this podcast, the speaker emphasizes the importance of financial optimization and offers tips on how to minimize spending on assets like a car, and instead invest in experiences and things that bring joy.
22:52 - 30:05 (07:13)
Summary
In this podcast, the speaker emphasizes the importance of financial optimization and offers tips on how to minimize spending on assets like a car, and instead invest in experiences and things that bring joy.
Episode#221: Mr. Money Mustache — Living Beautifully on $25-27K Per Year
PodcastThe Tim Ferriss Show
The speaker talks about how they find inspiration from David J Schwartz's writing style, particularly in using anecdotes at the beginning of stories.
30:06 - 35:17 (05:10)
Summary
The speaker talks about how they find inspiration from David J Schwartz's writing style, particularly in using anecdotes at the beginning of stories. They also mention that Schwartz's book, The Magic of Thinking Big, is on their to-read list.
Episode#221: Mr. Money Mustache — Living Beautifully on $25-27K Per Year
PodcastThe Tim Ferriss Show
The speaker talks about their admiration for the entrepreneurial culture in the US, the range of geographies that the country offers as opposed to just a border of cities like Canada, and why they decided to stay in the US.
35:17 - 41:32 (06:15)
Summary
The speaker talks about their admiration for the entrepreneurial culture in the US, the range of geographies that the country offers as opposed to just a border of cities like Canada, and why they decided to stay in the US.
Episode#221: Mr. Money Mustache — Living Beautifully on $25-27K Per Year
PodcastThe Tim Ferriss Show
The speaker aims to create a tipping effect that could lead societies to a bike-based transportation system to help save the planet and potentially save billions of dollars.
41:33 - 49:01 (07:27)
Summary
The speaker aims to create a tipping effect that could lead societies to a bike-based transportation system to help save the planet and potentially save billions of dollars. Personal happiness, resource consumption, and space considerations were factors that the speaker has to consider before making a purchase.
Episode#221: Mr. Money Mustache — Living Beautifully on $25-27K Per Year
PodcastThe Tim Ferriss Show
The speaker shares his experience building his own detached studio and the happiness he finds in manual labor, problem-solving, and teaching others how to build.
49:02 - 54:49 (05:47)
Summary
The speaker shares his experience building his own detached studio and the happiness he finds in manual labor, problem-solving, and teaching others how to build.
Episode#221: Mr. Money Mustache — Living Beautifully on $25-27K Per Year
PodcastThe Tim Ferriss Show
By teaching your children the value of money and incorporating elements of biology and science in their upbringing, you can prevent them from being super consumers.
54:50 - 1:00:04 (05:14)
Summary
By teaching your children the value of money and incorporating elements of biology and science in their upbringing, you can prevent them from being super consumers. One father shares how he uses a spreadsheet to teach his 11-year-old son the importance of balancing his spending and saving.
Episode#221: Mr. Money Mustache — Living Beautifully on $25-27K Per Year
PodcastThe Tim Ferriss Show
In this podcast episode, Tim Ferriss talks about the best ways to invest, including some book recommendations and how to avoid getting scammed.
1:00:05 - 1:05:33 (05:27)
Summary
In this podcast episode, Tim Ferriss talks about the best ways to invest, including some book recommendations and how to avoid getting scammed. He also advises on focusing on business understanding rather than technical fluctuations.
Episode#221: Mr. Money Mustache — Living Beautifully on $25-27K Per Year
PodcastThe Tim Ferriss Show
The podcast host recommends reading "You Can Be a Stock Market Genius" by Joel Greenblatt along with "More Money Than God", a cautionary tale about the birth of the hedge fund model and competitors in the industry.
1:05:34 - 1:09:43 (04:09)
Summary
The podcast host recommends reading "You Can Be a Stock Market Genius" by Joel Greenblatt along with "More Money Than God", a cautionary tale about the birth of the hedge fund model and competitors in the industry.
Episode#221: Mr. Money Mustache — Living Beautifully on $25-27K Per Year
PodcastThe Tim Ferriss Show
The idea of success is subjective and depends on one's overall satisfaction in life, making it difficult to judge the success of others based on their careers alone.
1:09:44 - 1:13:51 (04:07)
Summary
The idea of success is subjective and depends on one's overall satisfaction in life, making it difficult to judge the success of others based on their careers alone.
Episode#221: Mr. Money Mustache — Living Beautifully on $25-27K Per Year
PodcastThe Tim Ferriss Show
The blogger behind Mr. Money Mustache discusses his two passions: energy and luxurious living.
1:13:51 - 1:20:25 (06:33)
Summary
The blogger behind Mr. Money Mustache discusses his two passions: energy and luxurious living. He believes that we need to popularize the ideas of energy consumption and how to fix it while also celebrating decadence and feeling like things are luxurious.
Episode#221: Mr. Money Mustache — Living Beautifully on $25-27K Per Year
PodcastThe Tim Ferriss Show
The barbell stuff is just squats deadlifts clean and press a little bit of benching and stuff with kettlebells and dumbbells.
1:20:25 - 1:25:30 (05:05)
Summary
The barbell stuff is just squats deadlifts clean and press a little bit of benching and stuff with kettlebells and dumbbells.
Episode#221: Mr. Money Mustache — Living Beautifully on $25-27K Per Year
PodcastThe Tim Ferriss Show
The speaker shares their experience with running a company during retirement and getting entangled in financial trouble.
1:25:31 - 1:32:00 (06:28)
Summary
The speaker shares their experience with running a company during retirement and getting entangled in financial trouble. Despite going through hardship and having to put in a lot of hard work, they learned valuable carpentry skills and now approach their business with a more relaxed mindset.
Episode#221: Mr. Money Mustache — Living Beautifully on $25-27K Per Year
PodcastThe Tim Ferriss Show
The challenge of finding a balance between satisfaction and accomplishment in an early retirement lifestyle, and the importance of prioritizing simple pleasures and social connection.
1:32:01 - 1:42:59 (10:57)
Summary
The challenge of finding a balance between satisfaction and accomplishment in an early retirement lifestyle, and the importance of prioritizing simple pleasures and social connection.
Episode#221: Mr. Money Mustache — Living Beautifully on $25-27K Per Year
PodcastThe Tim Ferriss Show
This transcript contains advertisements for Wealthfront, a low-cost and hassle-free investment service powered by innovative technology, and VeriDesk, a standing desk aimed to address the health hazards of sitting all day.
1:43:00 - 1:49:51 (06:51)
Summary
This transcript contains advertisements for Wealthfront, a low-cost and hassle-free investment service powered by innovative technology, and VeriDesk, a standing desk aimed to address the health hazards of sitting all day.
Episode#221: Mr. Money Mustache — Living Beautifully on $25-27K Per Year
PodcastThe Tim Ferriss Show
VeriDesk provides solutions to convert your existing desk or cubicle into a sit-stand workstation, allowing you to switch between standing and sitting positions in just seconds.
1:49:51 - 1:51:09 (01:17)
Summary
VeriDesk provides solutions to convert your existing desk or cubicle into a sit-stand workstation, allowing you to switch between standing and sitting positions in just seconds. The VeriDesk models start at just $175 and offer a 30-day risk-free guarantee.