I’m talking to JL Collins known by some as the godfather of financial independence, author of The Simple Path To Wealth, and a financial sage at large. Stocks -- Part 1: There's a major market crash coming!!!! Perhaps I should have covered it better. Sign up for the 22,000+ word Young Money Bootcamp eCourse. There is so much nonsense swirling around COVID-19, right down to the correct name, I was starting to get lost sorting it out. I adopted my daughter as a single mom a year and a half ago at 41. I’m impressed. Republic Wireless and my $19 per month phone plan. It is a lifestyle that agrees with us and one we’d like to… [Continue Reading], Bear Market, oh my! If you click on these ad it shows them the ads are working for them and that support will continue. Nightmare on Wall Street: Will the Blood Bath Continue? Armageddon and the value of practical skills, Rent v. Owning Your Home, opportunity cost and running some numbers, The Casanova Kid, a Shit Knife, a Good Book, Having No Regrets, Dark Matter and a bit of Magic, What Poker, Basketball and Mike Whitaker taught me about Luck, Beanie Babies, Naked Barbie, American Pickers and Old Coots, Selling the House and Adventures in Staging, The bashing of Index Funds, Jack Bogle and a Jedi dog trick, The Mummy's head, Particle Physics and "Knocking on Heaven's Door", "It's Better in the Wind" or why I ride a motorcycle. JL Collins has been an investor since 1975. Case Study #3: Let's get Tom to Latin America! If you are newly graduated or in college, I would say this would be a great read too, getting a head start and putting in the 10-15 years of working time (and accumulating your savings and throwing them in investments), can likely give you a financially independent life in your 30’s and 40’s. ETFs (Exchange Traded Funds) were… [Continue Reading], Boy howdy. Collins's Blog. Now it’s up to about 33 posts but when I originally started it my vision was only for about 5 parts. Reviewing the comments on my post of April 1st, Why I will no longer be writing this blog. Genymoney.ca: Make the Most of your Money. Chautauqua 2014: Lightning strikes again! The stock series kind of grew out of that. On Twitter, gone for Chautauqua and dark on comments till November, Tuft & Needle: Our Walnut Frame and Mint Mattress, Kibanda Part 5: Pretty, and pretty much done, Stocks--Part XXXIV: How to unload your unwanted stocks and funds, My Talk at Google, Playing with FIRE and other Chautauqua connections, Stocks -- Part XXXII: Why you should not be in the stock market, An International Portfolio from The Escape Artist, How to Invest in Bitcoin like Benjamin Graham, Sleeping soundly thru a market crash: The Wasting Asset Retirement Model. I had heard of this book talked about within the FIRE social media, but to be honest I had never checked out his website until now. Stocks -- Part VIII: The 401K, 403b, TSP, IRA & Roth Buckets. How I lost money in real estate before it was fashionable, Part III: The Battle is Joined. Stocks -- Part XXV: HSAs, more than just a way to pay your medical bills. Stocks -- Part XIV: Deflation, the ugly escort of Depressions. Reading The Simple Path to Wealth was part of my 2020 personal finance goals. A Guided Meditation for When the Stock Market Is Dropping, 7 Days in Heaven: or Why Slowing Down Will Get You There Sooner, Stocks -- Part XXXV: Investing for Seven Generations, Chautauqua 2019 - UK & Portugal - Tickets Now Available, Car Talk: An update on Steve and looking at Leafs. JL Collins went from working in an ice cream parlor for $1.25 an hour (he was 13) to accomplishing Financial Independence & Retiring Early (FIRE) before it was even a thing. This site uses Akismet to reduce spam. Highly recommend the book for anyone focusing on handling their finances. I … Not one of you seriously believed I’d cracked the market timing code. Our latest summer read, The Simple Path to Wealth by JL Collins, promises to change all that. by Jl Collins Foreword by Jl Mr. Money Mustache Read by Jl Collins. I have not read it, but enjoy books of this type for sure. Best decision ever. Or not. Someone who had the education and training… [Continue Reading], Last week we sent the following message to our Chautauqua mailing list. Stocks -- Part VIII-b: Should you avoid your company's 401k? Who knew? As I type this, the S&P500 is down not quite 10%. In addition, I still contend that withdrawing from my portfolio at a 4% withdrawal rate per year isn’t enough (in a HCOL place like Vancouver at least) and having 25 times your living expenses is not enough to retire on, but this is my own discomfort and he shows the math proves otherwise. Mostly because these new income streams don’t feel “real,” or, more accurately, they feel temporary. The Marriage, Kids and Money Podcast is dedicated to helping you do just that. Don’t forget to subscribe for blog updates and a free dividend yield spreadsheet. This book grew out of a series of letters to my daughter concerning various things - mostly about money and investing - she was not yet quite ready to hear. *Tuft & Needle supports this site with their paid leaderboard ad. Now, in the world of financial independence and early retirement (FIRE), few authors are as well-respected as he is. So, what does a month in Ecuador cost anyway? blog updates and a free dividend yield spreadsheet. Base expenses like shelter, food, and transportation are taken off the top. Part XVII-B: ETF vs. Mutual Fund -- What's the difference? Listen Now: Don’t miss out on future episodes: subscribe on iTunes subscribe on Stitcher And,… Blog income can, and sometimes, … JL Collins turned his experiences with money – successes and failures – into advice for his young daughter, and in turn transformed that ... Adulting Is Easy (Lauren) Jun 11 JL Collins is a financial expert and author. JL Collins states in the opening chapter: “Complex investments exist only to profit those who create and sell them.” The author argues index based investments with low fees perform better over time. JL Collins known for his Stock Series on the blog. He wasn’t working at the time and told her that they were doing just fine as they had money that was working for them instead. The Simple Path to Wealth by JL Collins was written for his daughter who essentially knew that she was supposed to be preparing for her financial future but didn’t want to spend all day thinking about it. and the taxman cometh. ‎This book grew out of a series of letters to my daughter concerning various things - mostly about money and investing - she was not yet quite ready to hear. Or even Vanguard? This book grew out of a series of letters to my daughter concerning various things - mostly about money and investing - she was not yet quite ready to hear. Hi Lauren, So much to say on this topic as it hits very close to home. I started the process at 39 and did an international adoption through China. JL Collins: The whole blog came about as a way to achieve information for my daughter. A few years back, three very different things happened and, to the best of my recollection they didn’t happen all that close together. “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. This had the effect of maintaining my stock & bond/cash asset… [Continue Reading], Desperate times call for desperate measures. How I learned to stop worrying about the Fiscal Cliff and you can too. And in that stage, according to JL Collins, I should be 100% stocks. He even stopped working for a few years when his daughter was born (from what I read he was let go from his job but he had enough F-You money to be financially independent). Stocks -- Part XXXI: Too hot. We would like to show you a description here but the site won’t allow us. How I failed my daughter and a simple path to wealth, Stocks -- Part VI: Portfolio ideas to build and keep your wealth, Stocks -- Part II: The Market Always Goes Up. Part XVII-B: ETF vs. Mutual Fund — What’s the difference? Collins recalls a time when his daughter was eight years old and she asked him if they were poor after watching the news showing people standing in a bread line. How I lost money in real estate before it was fashionable, Part V: Sold! Hi GYM. She currently serves in the Peace Corp. Episode 14 - The Simple Path To Wealth (feat. I think that’s a great idea as a money lesson for your children. June 12, 2020. He also seems like a very likeable guy and has an enviable list of places that he’s been to, including Tahiti. Travels in South America: It was the best of times.... Yellow Fever, closing up shop for the summer and heading to Peru y Bolivia. JL Collins) In this episode, we interview JL Collins, Author of the book “Simple Path To Wealth: Your Roadmap To Financial Independence and a Rich, Free Life." Case Study #4: Using the 4% rule and asset allocations. I love investing and personal finance. So I highjacked Doc G’s podcast. He’s a big fan of Vanguard and so am I. Part XVII-B: ETF vs. Mutual Fund — What’s the difference? What does buying a new car really cost over the years? Stocks — Part XVII: What if you can't buy VTSAX? That’s him above. JL Collins turned his experiences with money – successes and failures – into advice for his young daughter, and in turn transformed that advice into this easy-to-read, step-by-step guide to managing wealth. My wife Jane and I have been married for 34 years. A review on Simple Path to Wealth book review just a way to achieve information for daughter! A buying opportunity 10: Should Josiah buy his parents a house recommendations page of financial tools I use save. 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