The Original Joe Dominguez Your Money or Your Life Audio Course (14 Lessons + Guidebook!)
In eighth grade Joe Dominguez, age 12, wrote essay in response to the assignment: what do you want to be when y […]
In the heyday of Your Money or Your Life’s original best-seller status, Joe rarely made public appearances. He agreed to join me in 1993, though, for a talk to 200 people at the venerable Elliot Bay Bookstore in […]
This post really made me think. Can I be both at the same time? I love the sense of control that managing my financial life gives me yet I recognize that not everything can fall to personal responsibility. I was unable to find out ahead of time what the most straightforward of medical tests would cost me. How can I take personal responsibility for the costs of my health care when I can’t even learn what those costs will be? Pure capitalism/ libertarianism means that drug makers etc should make the most they can, resulting in many people paying a lifetime worth of earnings to treat illnesses. I can’t believe that is right.
In my day (early 70s) you could go to college without indenturing yourself for the next 30 years because the states and the federal government provided subsidies of various sorts. Mr Money Mustache went to college in Canada, where tuition is highly subsidized. Would he be able to retire early without that?
I believe we need both. Personal responsibility when possible but a society as complex as ours certainly requires social responsibility as well. Whatever we might think, none of us makes it on our own.
Thank you. This is an excellent summary.
I have found that I live with the tension, the paradox, of these two polarities – libertarian and social democrat, hard-nosed and supportive encouragement. That tension is living a both/and FI journey. It’s a more challenging approaching that the either/or dynamic that dominates our society today, but I think it yields better results, at least for me.
Well, I’m not yet financially independent. I work in human services. I do get a little fussy and libertarian with my clients. I want them to take care of their business; after all, it’s not that difficult.. But, if it’s me you’re talking about, I’d want Vicki’s gentle approach. Ha.
Well said, as always, Vicki! I have both tendencies as well. I volunteer at a food bank and work part time. I meet lots of people with experiences far different from mine. At the food bank I see people with far less than I have, but with a strong sense of community, sharing and helping out their friends- and I see people who don’t want to work because then they might lose their Medicare or Medicaid. I get inspired, and then I want to slap somebody upside the head. And I am at my computer than I cannot even begin to understand, made by someone else, in my house built by others with skills that I also don’t have- independence and self reliance is an illusion, but often you are better off if you act as if it isn’t!
The Money Talk Cards are designed to facilitate and support conversations about money with your friends, family, partner, or larger groups. Each deck features 52 unique cards.
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Grant Sabatier replied to the topic Having a hard time figuring out how to use the forums! in the forum Your Money or Your Life Discussion 1 year, 7 months ago
Thanks Jonathan. We are creating a new short how to get started video. Thank you for the suggestion!
After first reading Your Money or Your Life I really struggled with this question. Was enough a number or a feeling? Or both? How could I figure it out? I really struggled for the first few years of my FI to figure out what it meant to me. Early on “enough” meant having $1 million in the bank, but as a work towards saving it, I started to shift my…[Read more]
Hi, I’m Grant and I’m the Founder of Millennial Money and helped Vicki build this platform. When I was 24 Your Money or Your Life changed my life and started my financial independence journey. After an incredibly wild ride I reached FI at the age of 30.
I’m excited to be a part of spreading FI to more people, especially those who are less…[Read more]
There’s one section of the new edition of Your Money or Your Life that was taken out by my editor that now seems so relevant to me: the effect of race, class and gender on our financial prospects. Mind you, […]
This is such a valuable blog post. I wish your editor had left the chapter in the book. It’s just true. I have tremendous advantages as a tall white man born into a family that valued education. All of those aspects of my life give me a step ahead, yes even being tall. (Tall people have statistically earned more as an example)
A black person has to prove themselves three or four times more valuable in order to achieve the same levels that I have. I know many white people, who are friends of mine, just don’t see it this way. But it’s true.
Obviously some have advantages that others do not. While it may not be possible for all of us to reach financial independence in our 30s, the techniques and ideas may be the difference between surviving a spate of bad luck or going broke. For others it may mean the difference between retiring at 65 or not retiring at all. When I found myself divorced with a toddler, a job that barely paid the bills, in my mid 30s, books and articles on frugality, money management and financial independence gave me a sense of control of my life. I retired at 61, slightly early retirement, a lot later than many fire folks, but way better than I would have expected at that low point.
Summarized (with care and dedication) by editor Clare Moss with Laurence Toltz to introduce people to the nine-step program in Your Money or Your Life.It is based on the original book so
How this book came […]
Call this post: FI 2.0. Or maybe 3.0.
One of the most radical and overlooked ideas in Your Money or Your Life comes in Chapter 7. The job of that Chapter is to have you realize that a “job” is not the only, […]
Hey grant, this is what many people find, that post FI expenses go down. Life is less expensive perhaps because of all the treats we buy ourselves while working to make up for how grueling life on the job can be. Our vacations might be more expensive cuz we buy packages rather than design them ourselves creatively. so many ways life gets both…[Read more]
I am 77 this month and I have been working on YMOYL since I retired at 55. I totally agree that expenses can go way down and the Enough becomes easier to obtain as one practices and works at this program. One does not know where and how it will work out, but keeping the daily accounts and tracking your money has a magic about it.
Keep reading and researching the many ways to decrease ones cash flow.