First a quick editorial update: Adm Karpinsk and the Realist got into an epic battle last night, similar to the one where Good Superman and Bad Superman smashed each other around in the auto wrecking yard in Superman III. However, unlike Superman, we ended up in a death grip of mutual strangulation where our atoms both fused into one Ultimate Financial Being! So now you may find both sensitivity and brash belligerence displayed within the same posting. Also, Adm Karpinsk may still refer to himself in the third person, just because he finds this makes him sound more authoritative.
I’ve been getting quite a few comments already, both online and offline. This is to be expected with a controversial topic like money. A blog like this can be offensive to lots of people, because money gets mixed in with your feeling of happiness and security in life, and to have somebody telling you what to do when they don’t even know you!? – Forget it!
First of all, Adm Karpinsk is not judging you. He loves you and he is here to help.
Next issue: some readers might feel alienated because they read Adm Karpinsk’s Own Story and saw that he and a very cooperative wife started saving earlier than they did. Don’t worry! It’s not a contest of how early you started. It’s a contest of who can start making some changes in their life right now which bring them benefits in the surprisingly near future.
Not every person is a good candidate for the MMM way of life. If you’re already supporting a large number of children (or have other unstoppable life-and-death expenses) on a very small income, you are probably more frugal than me already and can gain very little from reading on.
But what I keep finding every time I meet new people, is that almost everyone has a pretty reasonable income – higher than what we currently live on – yet they all seem to be just barely keeping above the waves financially. Still others have a super-high income (defined by me as over 100k per year for a household – 50k for each person in a couple), yet STILL tend to borrow money for things like cars or even carry a credit card balance. These are my target audience! These are the people who have the power to start feeling like lottery winners on the gusher of income they are currently sitting on, instead of being a slave to their current inefficient spending patterns.
It’s commendable to advance yourself in a career to the point where you are making anywhere near this much. But most people manage to build up a spending pattern that pretty much burns the money as quickly as it comes in. The big difference is that, being an incurable engineer, I always calculate out every possible spending decision over a lifetime and weigh it against a dollar-value estimate of the potential hassle. So I make certain decisions differently and end up with the same desirable lifestyle – fairly big fancy house, good cars, a self-employed 10 hour workweek, lots of fun vacation travel per year, yet at drastically lower levels of cost and debt.
Surely some of these tricks can be boiled down into a nice daily or weekly column!
So to the people that are asking “What’s next?”, I can only say “Read on!”. I’ve got a big list of future articles already written and more on the go, and I am accepting comments and criticisms from anyone. It takes a lot of work to write up these little articles, so they will come in little daily tidbits. But no expense or strategy will be spared. You will surely reject some of my ideas and perhaps outdo me on others (and then I can copy you!).
But the bottom line is if YOU, middle-income-person, make some of Adm Karpinsk’s recommended changes in your spending, YOU WILL BECOME RICH QUITE QUICKLY, and YOU WILL LOVE IT.