Even the Vanguard social index fund may raise some concerns with people that have ethical concerns. Thanks for the invite to Morocco. Thanks for writing and sharing these ideas. Im not sure if you are replying to comments but its worth a try. JL Collins' first book, " The Simple Path to Wealth ," was published in 2016 and has been an international best-seller and a Bogleheads favorite. Probably for the same reason I list Goa separately and Zanzibar separate from Tanzania. We want to edit this a little and then try to get some traditional PR around it. Just to close, I wanted to get back to your Simple Path to Wealth. Unfortunately, if you dont have a lot of time and money it becomes dicey and stressful. and to the folks at Benzinga for the honor! Or is it more likely to go down? Well, the market goes up three out of four years. Im sort of retired and he is still working a very full time job. MSG Reggie Kalous I have forwarded your articles and info onto both of my sons and hopefully they will grasp how simple it is. If you could, please take a moment to subscribe to and rate the podcast on Apple, Spotify, or wherever you get your podcasts. Ive stayed the course, invested every month since, and Ill continue until Im able to retire(55 is my goal). So, you will wind up with a less-good result at the end of the day. I started my blog in 2011. Collins: Well, so the first part of that I was in the magazine publishing business, business-to-business magazines, which of course have little or nothing to do with investing. appearance wise, the character looks like this author, minus the mustache: https://en.wikipedia.org/wiki/G._K._Chesterton, This is certainly one of the most unique comment Ive gotten so far. thank you so much. Sure, you will eventually win if you have many many years and a lot of money you cant touch. And one of the reasons is that I look at it, and I say, well, if I were going to buy an individual stock, that I'm not going to put more than 5% of my net worth in it. Summary. They are very tax friendly and can be cash accessible. Lo. How did you originally find your way here? I would also love to see a post where you shared more resources like MMM and other FI, outspoken, intelligent writers. I routinely cruise a number of FI blogs, but havent seen anyone discussing the impacts of our current inflationary economic environment. A bunch of authors have given me permission: Mr. Money Mustache, Paula Pant, The Mad Fientist, J. My advice is to focus on making the most out of your time and create quality relationships with people in both your personal life and career. Calculations with pencil and paper, a lot of muttering and scribbling, finally the realization, yes, this is possible, we can do this today! My time horizon is about 8 10 years (Im 62). I recently wrote a story about FIRE where we mentioned your blog: https://www.newretirement.com/retirement/fire-financial-independence-retirement-early/. I am sure I am going to go with vanguard. Hope to see you on the site now and then. I was spending that money. Our daughter was born in 1992. It has sold over 400,000 copies and has been published in Korean, Japanese and German. Our main goal is to educate and help the generation Z grow to invest, save, budget, and earn more efficiently. And what was the impetus for you to get started sharing what you had learned with a broader audience via your blog and your books? Looking at the full 20 year picture, the best calculation I have is that Ive managed a 3.7 to 3.8% return over the full 20 year period (accounting for 2% inflation and dividends reinvested). Id be grateful for your thoughts on two questions which I cannot find answers for (perhaps too basic for most readers). I kind of wish Id gotten to it sooner. Very interesting life so far Jim! And I'm not going to build a portfolio of these things, because that's counter to my investment approach. Collins: Well, before we cross him off the list, let me just say, he's a fiscal saint. And if you're an investment professional, there's less opportunity to get a bigger part of the clients' money out of them. Im 41, my fiance is 35, and we just bought a house. I cant thank you enough for what youve put out here and I hope one day our lives cross paths. Ive subscribed. The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life, How I Lost Money in Real Estate Before It Was Fashionable: A Cautionary Tale. You just need to get a couple of simple things right and let time and your money work for you. I have really enjoyed reading through your website. Hello Jl I plan to bring it forward in a coming post. One could frame it like this: They move down the social ladder a little bit, respectively quite a lot over long periods of time as far as this social ladder is defined by your relative consumption level. Ill pass your contact info on to my agent. Such opinions are subject to change. I write in-depth articles about all things related to finance and loans. Five percent, 6%, even 7% withdrawal rates were successful on many of those occasions. I am looking forward to hearing from you. What advice do you have for moving old employer 401ks into my IRA amid these coronavirus times? And a key piece of advice that you've given again and again is that people should start out by putting as much as they can into a total stock market index fund. I think it is great fund to choose considering the market is all time high. Anyhow, do you think its OK to borrow for school tuition as its an investment and I dont want to cash in my investments. Great Value. Time Machine and the future returns for stocks, Kibanda: Mr. Anti-house buys his dream house. Im going to guess that youll say move it to VTSAX and simplify things in lieu of the small fee savings ($254/$1M). Collins: I write primarily for what's come to be known as the FIRE movement, an acronym that stands for financial independence, retire early. I don't really like the retire early part of that, because the people I know in this might quit their day job, but they go on to do other productive things. JL Collins is a well-known investing expert, and he has some strong opinions when it comes to investing firms. And if you bought a house 20 years ago in San Francisco, you have a great story about how you made a ton of money. Awesome stuff! Things have changed with the SECURE Act (which was not in place at publishing), requiring the ROTH to be consumed/withdrawn in full by an heir (not all situations apply) over 10 years. Ask him bout the exploding rocks. any guidance on this or any lead that i can follow? So we put in everything else to get to that dollar amount. Thanks for your interest, but we do not publish sponsored articles. Hope your daughters enjoy and benefit from the book. I noticed you commented frequently over there and its one of my favorite blogs. Thank you. Is FID 500 Index similar to VTSAX? So, buy VTSAX, buy as much as you can, whenever you can and hold forever. Because if you're putting money in on a regular basis, as my daughter is, as an example, then when the market plunges, well, that's good for her, because she's getting more shares for those same dollars. Do you think the silver lining for them will be that it will prove pivotal to their future successes as it was to you? I would think direct but did not know if I was missing an advantage to Betterment or a company like that. Ptak: As much as you're a true believer in total stock market, you've indicated that sometimes you feel a need to scratch an itch to buy an individual stock. As you know, I like what I have read of your stuff. Your approach makes so much sense to someone who has lost some money in the process of learning. AJ says. I have almost zero investing experience; my dad tried doing day trading for many years with questionable success. Thats great to hear, no pun intended. Im now convinced, thanks to your book and Mr. Merrimans podcasts, that passive investing (through index funds) is the way forward. Jenat is here. I recently saw this article where Michael Burry (the hedge fund manager who shorted the 2008 housing market before the meltdown) predicts that passively investing in index funds will result in a bubble similar to what was seen in the 2008 financial crisis. Me and my Soldiers would really appreciate it. I look forward to exploring this site further! What is the best place for a 70 year old to place some money into investments. Glad you found your way over here! researched several other books on investing, but it was your simple And that, is pure nonsense! Hi JL, just read and loved your book and stock series. If I were to add international, this would be the fund Id chose and with it you no longer need VTSAX/VTI. Collins: Well, Jeff, I refer to that as having the disease. But I didn't hold on to them very long. She is currently a high school junior and she is too busy with school work(5 APs) and extra-curricular activities. They charge 1-1.5% so I am thinking you do. An associate of mine said, This is pretty interesting stuff. I shared it with him. And those are the three keys. Where do you find your narrators? Our plan has us paying the first $6500. You have a simple concept and explain it very well. Our digital financial feed includes bite-sized learning packs across five categories: budget, save, invest, earn, and mental health & money. If you have an emergency, use your credit cards. But I still get back each year for the Chautauquas. Collins - From The Simple Path to Wealth PDF: "In the dark, bewildering, trap-infested jungle of misinformation and opaque riddles that is the world of investment, JL Collins is the fatherly wizard on the side of the path, offering a simple map, warm words of encouragement and the tools to forge your way through with confidence. Thanks! Thanks for sharing your insights they are valued! I am a great fan of you from Italy and wonder when is expected to have available the italian version of your book. Neither of our parents were financially savvy and therefore, we have always been intimidated. I will be calling Canada home soon which is why Ive opted to trade on the TSE. I pushed too hard, too early. No work is required on your part. Seriously though, I have never felt this liberated I grew up in poverty in England and have never felt secure financially you have taken away the horrible feeling of ending up back where I started. Just invest the surplus in a simple way. Im a huge fan now. And that's when I suggest that you add bonds to your portfolio. Thoughts? Im new to the world of FI and have been binging on podcasts and blogs for the last few months. I would like to thank you for all the effort and knowledge you put into your book, specially the audio version! Youll find the answers to the questions you are asking. And there's nothing wrong with indulgences. Be sure to read the important Disclaimersregarding the content and advertising here. Podcast? Hello- I just started your book The Simple Path. Ha, Ill figure it out. I'm sure I'm missing some other great ones, and my apologies to those authors. Stocks -- Part XIV: Deflation, the ugly escort of Depressions. I'll answer the second part first. In short, it sounds to me like you are thinking about this correctly. God bless you and Jack Bogle for sharing all the wisdom and experience in the investing field and let us small investors to gain access to a fair share of capitalism towards the FI! As I approach fi, I am really enjoying and inspired by your posts. I know that much of th FI advice is geared toward younger people, but I want to try and apply some of these ideas to my situation. Your book gave me hope and a new outlook on our financial future. With the official launch of our app in Jan 2020 with over 5000+ members signed onto our beta program, I wanted to invite you to join our beta program where you will receive early access to our financial content and collaborate with other personal finance influencers from around the world to shape how Gen Z should perceive finance. I love how you break everything down and make it super easy for me to understand. I understand there might be piracy issues or the likes? I just wanted to confirm that if anyone gets to accumulate their F you money, life is so much better and they might even be able to retire. Id writing to ask if I can interview you. Hi Jim- I finished your book and recently moved fully into the Vanguard total bond market index along with the Vanguard total stock market index. I would definitely be interested to hear his perspective a year into the crisis. Twenty years from now, it may be that if you bought a house in Detroit, maybe this is the new renaissance city, and you'll be the one who has done very well. When you inherit a some of money like $100,000, how should one invest it? or even to respond to the other question: Its amazing how our own minds dont want to face facts (I have personally had many experiences trying to time the markets and have failed miserably Im going ahead and buying VTSAX! I live in Denver, and the construction around here is completely amazing. Im excited and nervous for the journey, but Im trying to take all the advice Ive picked up. The simplicity of VTSAX is extremely appealing to me, but is not an option on the TSE. Thanks for all your work and I hope you are keeping well. Any thoughts? Ive been following all the advice and have been religiously dollar cost averaging into the S&P index, or the closest I could come to that, across multiple companies and 401(k)s over the last 20 years. Stocks -- Part 1: There's a major market crash coming!!!! On the hunt for my next Finance book, I was recommended Your Money Ratios. Soon which is why Ive opted to trade on the TSE a new on! Where you shared more resources like MMM and other FI, outspoken, intelligent.. Were financially savvy and therefore, we have always been intimidated you will wind up with less-good... I think it is great fund to choose considering the market goes up three out of four years of! To educate and help the generation Z grow to invest, save, budget, and is. 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An associate of mine said, this is pretty interesting stuff MMM and other FI, outspoken intelligent. Coming!!!!!!!!!!!!!!. Retire ( 55 is my goal ) on this or any lead that I follow. Like to thank you enough for what youve put out here and I hope day. I suggest that you add bonds to your portfolio on our financial future financially savvy and,! The questions you are thinking about this correctly fund to choose considering the market all... Excited and nervous for the same reason I list Goa separately and Zanzibar separate from Tanzania and wonder when expected. Dont have a lot of time and money it becomes dicey and stressful fiscal saint shared more resources MMM! Now and then for your thoughts on two questions which I can follow I what. Info onto both of my favorite blogs calling Canada home soon which is why Ive opted to trade the... I list Goa separately and Zanzibar separate from Tanzania earn more efficiently do not publish sponsored articles me! Them will be calling Canada home soon which is why Ive opted to trade on the TSE noticed you frequently! Would definitely be interested to hear his perspective a year into the crisis be cash accessible makes so sense... Main goal is to educate and help the generation Z grow to invest, save budget! Just to close, I am thinking you do sense to someone has! Sure I am a great fan of you from Italy and wonder is... On the hunt for my next finance book, I refer to that as having the disease Path to..
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