Pete Adeney is best known as the blogger behind Mr. Money Mustache blog and its popular resource within the FIRE (Financial Independence Retire Early) community. An advocate of frugal living and saving, Pete retired early from software engineering after only 30 years!
He believes that being good with money enables individuals to maximize their lives for what matters to them – without living a dull existence.
Pete Adeney, a Canadian software engineer who retired at 30, is best known as the author of a popular blog, FIRE (Financial Independence Retire Early). Followers of FIRE have adopted his advice by budgeting carefully and investing most of their take-home pay in low-cost index funds.
Adeney believes in retiring early so as to be able to live according to your values rather than what society dictates you should value. While not perfect, Adeney allows himself a few daily luxuries and admitted two regrettable “five-to-ten-dollar mistakes” during 2015. Furthermore, he doesn’t subscribe to the idea that money doesn’t earn itself; but believes good financial decisions can add up and optimize life performance overall.
At its core, most personal finance advice boils down to three essentials: maximizing retirement accounts, paying down debts, and cutting expenses. But Mr. Money Mustache goes one step further by advocating that at least 50% of your income be saved and invested wisely.
He’s made himself well-known by advocating his approach, Mustachianism, to thousands of followers, serving as its founder and spreading its principles with deductive discipline combined with MacGyver-esque ingenuity.
He does have his quirky ways; for example, he once purchased his son a mini Rubik’s Cube. Also, his car’s muffler once caught fire; but even with these eccentricities in place, his life seems abundant and within his means.
Personal finance experts often preach the same basic message: max out your 401(k), pay down debt, and set aside at least some of each paycheck. But Mr. Money Mustache (the online persona of software engineer Peter Adeney) takes it further, advocating a frugal lifestyle with at least half your income saved away as savings.
Erich has amassed a strong following within the FIRE movement and published a book detailing his beliefs and approach to early retirement. When speaking with Jon Luskin, he demonstrated a blend of deductive reasoning and do-it-yourself proficiency that owes something to Suze Orman and MacGyver.
At first, glance, optimizing your life on a tight budget might seem like an extravagant luxury – like eating nothing but ramen for every meal of the day – but Jillian and Pete agree that by identifying what matters in life for yourself, a fulfilling day may not cost as much money than previously imagined.
Do-it-yourself investors are likely familiar with Mr. Money Mustache, Peter Adeney. Adeney retired at 30 by living frugally and investing a significant portion of his take-home pay in stocks, bonds, and real estate investments – garnering him widespread admiration among early retirement enthusiasts. His extreme frugality has attracted an extensive cult following among early retirement enthusiasts.
His personal finance blog emphasizes the importance of saving and investing a substantial portion of one’s income for early financial independence. To this end, he highlights various methods for saving, such as taking public transit instead of driving alone, living with roommates instead of renting alone, cooking at home instead of eating out, etc. Adopting these habits into your daily life could save hundreds of thousands each year!
Pete, a cheerful Canadian with facial hair, has emerged as an unlikely personal finance guru since the Recession. His gospel of frugal living and savings involves riding your bike instead of driving; living with roommates; eating cheaply; shopping in thrift stores; and spending only on things you truly value.
Mr. Money Mustache and its associated online forums embrace frugal lifestyles with pride; its followers are known as Mustachios for their commitment to saving and investing the vast majority of income earned while avoiding debt at all costs.
Debt can eat over $4000 of your after-tax salary in interest payments yearly – enough for hundreds of lattes, multiple pairs of shoes, and cross-country flights annually; money you could invest elsewhere with more significant returns.