1. MMM's schtick is to be an exaggerated self-example of frugality and financial independence so of course he would be writing about his process in this major spending decision, as he does about everything else from car purchases to furnace installation.
Exactly. He writes about his budgeting, his investments, his purchases, and his sales so why not his donations? That's what financial bloggers do. If you don't like it, don't read financial blogs. I assure you most readers DO like reading that stuff.
freebeer wrote:2. MMM's feeling some heat from his community due to the $400K+ income so the significant donation helps mitigate that.
I think you overestimat the heat and how much he cares about it. His schtick is low spending and low consumption, not low earning.
freebeer wrote:3. I happen to believe he honestly also wants to start giving back and probably held off on doing so until his "stash" got big enough to feel comfortable that he wasn't putting his family's financial independence at risk. This $400K thing is not necessarily sustainable - audiences move on. His posting frequency is way down.
I agree that I'm more impressed with a giver who starts early and goes throughout life than one who waits until FI to start giving. However, giving during life is more impressive to me than only giving at death. At that point you're giving your heir's money!
freebeer wrote:My only beef with MMM is that "early retirement" is not at all what he's done and I think it's a bad term to use to recommend his flavor of lifestyle to others. He is not retired by any stretch of the imagination. He is self-employed. I think most people of a similar mind don't really want to "retire" (at say, age 35 or whatever)... even if they don't want paid employment they likely will see themselves as "investors" but not as "pensioners". There is a subtle but important difference here: an investor is a successful capitalist, a pensioner is a put-out-to-pasture employee. To me "retirement" is a word that connotes more of the latter. But "early retirement" probably does better on SEO than "financial independence" and to get back to that $400K/year MMM is very savvy about building and monetizing an audience and community so I can't criticize those results.
He wrote you a post about that.
http://www.mrmoneymustache.com/2013/02/ ... nt-police/
I agree he is savvy about building an audience, but not about monetizing it. I don't think he cares about/wants to maximize his site monetization. I assure you that if he really cared he could be raking in a multiple of $400K on that site. I think he has 5-10X my traffic and I make that with relatively straightforward, well-known internet entrepreneurial strategies that every professional blogger is aware of. He barely has ads on his site and rarely posts.
1) Invest you must 2) Time is your friend 3) Impulse is your enemy |
4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course