Peter Adeney, A.K.A. Mr Money Mustache.

Mr Money Mustache

Mr Money Mustache

Peter Adeney, A.K.A. Mr Money Mustache

I am still relatively new in the world of personal finances and have always been questioning whose advice should I be following.  I am sure many people out there are facing the same issues so I am going to try compile information about different financial gurus.  Today I will be covering on Mr Money Mustache. 😀


Peter Adeney, better known as Mr Money Mustache (MMM) in the cyber world, needs little introduction for the financial/frugal community.  He is a Canadian-born retiree who “writes bout how we can all live a frugal yet Badass life of leisure“.  In his exact words. He retired in late 2005 at the “ripe old age” of 30.  MMM came from humble backgrounds.  He grew up in Caledonia, Ontario and graduated with a Degree in Computer and Electrical Engineering with no debts.  He worked for 9 years and retired soon after that.  A “brief history of the stash” can be found on his website.

Mr Money Mustache Advocates


  • Focus on happiness
  • Understand what makes you happy
  • Get rid of debts
  • Live close to work – spend lesser on commuting
  • Bike (cycle) as much as possible
  • Do not borrow money for cars
  • Do not buy stupid cars
  • Cancel your cable TV
  • Do not waste money on groceries
  • Practice optimism
  • Using Credit Cards – big fan of cash-back credit cards


  • Invest in stock index funds
  • Paying off your own house
  • In rental houses (though this is quite unlikely in Singapore)

General Money/Retire Matters

  • Think of your time as
  • Your time to reach retirement depends on only one factor: Your savings rate, as a percentage of your take-home pay
    • Which is determined by 2 things: How much you take home each year and how much you can live on
  • Simply, if you are spending 100% of your income, you will never be prepared to retire
  • If you are spending 0% of your income and can maintain this after retirement, you can retire right now
  • You can retire once you have 25 times your annual spending saved up and working for you – this should be invested


According to MMM, there is actually no secret to early retirement.  In order to retire early (or earlier), we just have to decrease our expenditure and increase our savings rate.  Reducing redundant expenditure, like the daily Starbucks and the cable TV does add up over time.  MMM often calculate expenses as yearly expenses to make a point.  Example: A 5 SGD daily cup of Starbucks equates to 1825 SGD per year!  How long will it take for you to earn 1825 SGD back and what better use can you put the 1825 bucks to?  Would it have generated more income for you in the long run?  Think for the long term, always remember the higher your savings rate the earlier you can retire.  Now the Starbucks no longer seem as enticing right?

Here’s a table extracted from MMM’s website:

Savings Rate (Percent) Working Years Till Retirement
5 66
10 51
15 43
20 37
25 32
30 28
35 25
40 22
45 19
50 17
55 14.5
60 12.5
65 10.5
70 8.5
75 7
80 5.5
85 4
90 under 3
95 under 2
100  Zero

For more MMM goodness, do visit his site here:

For other articles from this series, please visit here.

Ms. Finding Money


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