Page 31 - Kiplinger's Personal Finance - November 2018
P. 31
MONEY
A Visit With Mr. Money Mustache
Pete Adeney “retired” at age 30 and has been working hard ever since to inspire his FIRE followers.
BY LISA GERSTNER
ON A SUNNY SEPTEMBER discourages such unannounced Now 43, he left behind his although he intends to switch
morning in downtown Long- visits). career as a software engineer to a plan with premiums that are
mont, Colo., 80 or so people Despite his celebrity status in 13 years ago with $600,000 in half the price for next year). His
are packed into the Mr. Money the world of FIRE and his blog’s savings and investments and a blog generated about $400,000
Mustache headquarters. Pete brazen tone, Adeney is modest paid-off house worth $200,000. last year, thanks to commissions
Adeney, the man behind the and mellow when we talk later. At this point, his family—he’s collected from banks, investment
blog that helped ignite the FIRE He believes that his blog reso- married with a 12-year-old son— services and other financial prod-
movement, owns the venue, nates because he peppers it with could comfortably spend more ucts he recommends, and his
and today, students are cram- personal, relatable stories about than their current rate of about investment returns exceed per-
ming in for the “PopUp Business his own journey. “It appeals to $34,000 yearly on living ex- sonal spending, too. But “I get
School,” a free, 10-day course people’s sense of aspiration penses (more than one-third an emotional satisfaction out of
on how to start a business and the life they want,” he says. of that is for health insurance, being efficient,” he says. “Waste
with minimal costs and de- hurts my soul.”
velop the skills necessary for The extra money isn’t
success. The vibe is Colorado ■ PETE ADENEY’S BLOG sitting idle. Adeney puts a
ADVOCATES “FINANCIAL
casual—T-shirts, shorts and chunk of his earnings toward
FREEDOM THROUGH
sneakers—but energy crackles BADASSITY.” philanthropy—he has given
among the attendees, many about $100,000 to charity
of them FIRE devotees with each year for the past couple
dreams of launching their of years—and business un-
own ventures. dertakings. He recently pur-
Adeney makes introduc- chased a house in Longmont
tory remarks. He has full- to rent out on Airbnb, and he
coverage stubble rather expects that the challenges
than a mustache, although and financials behind the
he sported a handlebar in venture will provide good
the blog’s earlier days. But fodder for his blog. He and
true to the bold persona his wife split the $225,000
he’s developed for Mr. Money price for the headquarters
Mustache, he uses the word with another couple, and
badass a couple of times. the other half of the building
(The blog’s logo bears the is a soap and ceramics shop.
slogan “Financial Freedom Adeney says the decision to
Through Badassity.”) The buy was easy financially
edge that he injects into because of his high income,
his musings about frugal and “it doesn’t matter if it
living and financial indepen- makes money. It’s good for
dence is one ingredient in furthering the cause, and it’s
the secret sauce that draws fun,” he says.
a cultlike following to the
blog. Dedicated readers The lure of entrepreneur-
form meet-up groups all ship. The ability to chase
over the country, and road- a business idea without
tripping fans stop by the worrying much about the
headquarters daily (Adeney financial side is a strong
40 KIPLINGER’S PERSONAL FINANCE 11/2018 PHOTOGRAPHY BY JASON INNES
K11M-EARLY RETIREES.a.indd 40 9/21/18 3:24 PM