Retire Before Mom and Dad: The Simple Numbers Behind A Lifetime of Financial Freedom

“Retire Before Mom and Dad” by Rob Berger aims to be a primer to compound interest and financial freedom to young adults. Introductory chapters to the book are slow and eye rolling. The author’s constant Matrix references of “taking the red pill” is an extreme exaggeration of what is simply acting like a financially responsible adult. Finances ARE boring and I dislike when folks act otherwise. There are some good nuggets in this beginning - folks who have not been exposed to the concept of a happiness treadmill will certainly get some value. Others who have spent more than 5 minutes on the Bogleheads forum can skip the first 7 chapters.

50 pages in and the book became much more interesting to me. Rather than harping on the compounded value of a latte over 40 years, the author is more prescriptive. What percentage of your income are you saving? How much are planning to withdraw in retirement? Questions that are simple at face value, but I hadn’t put down as numbers on paper. Automation was a chapter that resonated with me. I automate a LOT, but I have missed out by foolishly thinking I’d remember to move money around during my morning train ride. “Automate your savings; don’t rely on your willpower”. Funnily enough the budgeting chapter shouts out YouTubeTV as a frugal cable alternative at $35 a month - a price that will make current subscribers cry in 2024.

I appreciated the author’s attention towards the financial destruction that is a new car. While reading I was in the process of buying my grandmother’s old Honda CRV. I couldn’t agree more with the book - if it moves, is safe, and reliable, then you don’t need anything more. Unsurprisingly I adore a local car dealership with the slogan “EVERYONE DRIVES A USED CAR”. People enjoy reading opinions that they agree with thus I loved this chapter.

The latter half of the book is a great reference of financial jargon. I learned a fair bit about the history of personal finance instruments. The author’s plainly spoken descriptions would resonate well with a nascent investor. These chapters are a slam dunk and the author’s money geekiness really shines.

When I was 20 a financial consultant set me up with junk funds and ETFs. The usual racket - high expense ratios, niche market specialties. As I grew wiser his charisma wore off and those poor investments became apparent. “Retire Before Mom and Dad” wasn’t for me today, but it certainly would have been for me when I was just getting started. This book would have saved me a lot of time in the Boglehead forums. For that it is an easy recommendation. By the final pages I had forgotten the cheeky Matrix references and had grown fond of the author and his mission. Cheers to Rob Berger and his passion - I will pass on his message.