And if somebody sat down and made up a list of all the potential mistakes you could make buying real estate, it's like I went through that list and checked them all off before I signed the papers. He was viewed with great skepticism by the participants. Three months ago I bought my 2nd Triumph Spitfire, its a 1980, 1500. And since 2011, the markets have done almost nothing but go up. Would you recommend a portfolio allocation between stocks (VTSAX) and bonds (VBTLX) that considers past years performance as a variable or that would be considered as timing the market (e.g., increasing the overall percentage of bonds X/2 percentage points every year that the stock index grows X% and reset the allocation every time there is a negative annual change)? Readers from all over have added their insights. We are interested in publishing them in complex Chinese-language in Taiwan, is this book available? Of course, the corollary of that, if I'm right, unless it's some huge gain or it's not going to move the needle very much otherwise. Past performance is not a guarantee of future results. What were your thoughts when you were watching that unfold? I also just consolidated all my previous employer accounts into an IRA with Vanguard. There are several posts on other FI blogs dealing with this issue that may help. Well, they are now 164and climbing! We built wealth using a similar strategy as JL Collins-using index funds to get in the stock market in diversified ways. 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. How did you get started as an investor? At least Ill then have my 1200. If I'd been doing it and getting a negative result that in some fashion might have even been better, because I would have been more willing to look at alternatives and more quick to change. Well done! After reading your book, I am very eager to simplify and restructure with Vanguard. I am new to your work and read your book this week. I think the problem comes when people say 4% rule. A 20-something kid making over 70 grand a year, with a 35k seed his grandparents left him. Once I do that can I then invest the total in VTSAX? Although, I had a question: I chose to reinvest my dividends to allow the account to buy more shares for itself to keep the investment running at full potential. Collins: That's an interesting question, Jeff. That is not bad. Thanks, A home is where you live.. Glad to hear it, but I hope you still love me when the markets take their next major dive. Be sure to read thru the comments as well. I know I shouldnt, because thatd be betting on the market going down, which is on average a bad bet. , Your comment would be a brilliant Amazon review, if you were so inclined . Tara 4 Tara Newley, oldest daughter of Joan Collins Credit: Getty Born in 1963, Tara Newley is the eldest child of Joan and ex-Anthony Newley. Bills book was a lovely and simple read and well worth it. Did US also start this way actively managed funds beating Index and then fading away? Many ethical funds advertise their avoidance of porn companies however Im unaware of any even in the S&P 500. This is a tough one since you are gifting them my book. 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. And I've written my book to be as simple as possible, The Simple Path to Wealth. Hi, but would still like your feedback. Hope your daughters enjoy and benefit from the book. I am contacting you on behalf of the Finllect Team to determine whether you would be interested in helping and educating members from the Gen Z with financial activity and independence for a better future. What made me finally put this stuff down in the blog was, I had tried very hard to introduce my daughter to these financial concepts. The couple. Would you be interested in coming on board as an affiliate partner? Using the Search button might very well provide your answer. I am thinking to invest in index or etf funds and I am pretty sure you have more than a couple of articles about that. And in my view, the fact that it happened to be a pandemic, while especially tragic, because of the deaths that it caused, it was just one more kind of thing that can trigger a crash. Investments Great to hear it has reinforced your thinking. After reading much of Collins marketing stories, i can tell that he came in at an advantage.being able to travel the world at a young age, being able to leave job when young. Its in Swedish, but Google Translate is our dear friend . Collins covers a lot of ground in the book, from explaining how the stock market works (in everyday language that you can understand); sharing his own investment strategy; encouraging everyone to. Then Money, Mast the Game. Thoughts on which to choose? Ill keep an eye out for more books in the posts. At our Thanksgiving Table, my wife and I hosted a team of Wildland Firefighters, members of an elite Hotshot crew who worked tirelessly battling fire across the 11 Western States. I know, sounds too good to be true, which makes me wonder what the catch is? I am a wife and mother and I have been terrified of investing in the stock market. Thank you for bringing peace into my investing soul. Author and financial blogger JL Collins brings his refreshingly unique and approachable take on investing to Google.The author of "The Simple Path to Wealth:. VTI is the ETF version of VTSAX, the fund I recommend. You bought a second Spitfire after owning the first??!! Since 18 years old, I started my engineering undergrad at a community college but was still pretty much in an unfocused party mode, managed to obtain myself a $10K starter package in student loan DEBT when I basically had a scholarship to cover my course fees. However, we can tell you the site does not accept sponsored posts. Because if the market goes up, that means that every additional amount of money you put in, you're going to get fewer shares for that. And then, in some of the talks I've given, I'm famous for saying that my investment approach is pretty simple. He got into blogging when he realized, considering his family historywhich showed the men usually died after three score years and some change he may not live long enough to teach his grandchildren what he wanted to teach them about life and money. Dividends reinvested, buy never sell! So during this 10 year period, I know that at least a part of my portfolio will be positive no matter what my investments in the stock market are doing (ie a good hedge). I was buying what was most important to me. Lets pretend Obamacare and the subsidies available to low-income FI folks dont exist (humor me). Steven F Long, Esq. JL Collins' first book, " The Simple Path to Wealth ," was published in 2016 and has been an international best-seller and a Bogleheads favorite. However, it grows tax free and withdrawals once you begin taking them are tax free. We recently moved to Australia, a lifelong dream of ours, and sold our home in the San Francisco Bay Area and that is where our nest How I lost money in real estate before it was fashionable, Part I: Impossibly Naive. So the index funds began to outperform almost immediately. But there's so much great information out there that I wish it had been there in 1975 when I started. possible and to always take the path of least resistance. Since I have no idea when these runs will happen for which and when, I am content to hold them all. But the truth is that houses more commonly don't rise in value much over inflation, and sometimes they struggle to do that. And I may have forgotten one or two. That makes her hot. Even if it is a good company. Things change and F-you Money is your shelter in the storm: https://jlcollinsnh.com/2011/06/06/why-you-need-f-you-money/. Just let me know. If you can buy them commission free and if you can resist the urge to trade, they work just fine. And depending on the price point, and Tesla things came down pretty dramatic recently, I might be looking at something like Tesla. I called my husband at work and told him to find out if his was transferable while he was still employed and if not I will get as close to the same funds in Fidelity and switch everything around. I actually read the book, The Simple Path To Wealth, in April 2020. In your blog you discuss investing, and also the importance of getting out of debt but my questions are: 1: should I reduce high interest debt first or contribute to an emergency savings fund/cash buffer first? THANK YOU! I'm wondering if you can give us a quote for this story maybe along the lines of: "The top 3 things I would do if I was 50+ and preparing to retire?. 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. First, Id go here: Currently 26 years old and have 100% of my 401k holdings in FID 500. Hi Jim, With this podcast, the Mad Fientist aims to uncover the secrets of financial independence and early retirement, delving into various topics . Please call me back. They'll make a handful of people rich, and the rest suffer. Summary. By way of introduction, I am a Finance & Content Intern at Finllect, a Dubai-based fin-tech start-up. Stocks -- Part XXXI: Too hot. On the hunt for my next Finance book, I was recommended Your Money Ratios. SoThanks! Im beyond curious what you make of todays volatility compared to when you wrote your book. And I think it's certainly a great book for African Americans to read but a great book, I would say, for anybody who was thinking about following a path like this and is wondering, Is somebody with my background that doesn't feel like it's typical, can I really do this? So, that's another one. Regards, And I'm old enough to have lived in that investing world before Jack Bogle and fortunately after Jack Bogle. I hope you and your family are safe and healthy in these wild times. Olympus, Amsterdam, Bruges, Beziers, Portugal (Lagos, Porto, Douro Valley). DATE OF SEPARATION 26 September 2022 RETIREMENT, 1. Can you please share details? Please advise. So, I look at the 4% rule and I say it's inherently conservative. If yes, please reply to me via email. Moonman T1 Transparent Acrylic Grey Metal Fountain Pen Piston F Nib Writing #sd, Wild Strawberry Pattern New Old Stock Details about Vintage Tuttle Press Beverage Napkins, 1.5 sq inch Piece of the Berlin Wall w/Acrylic Stand & COA 1 One. Please email me on my email below. So far no Italian publisher has expressed interest. BTW, my wifes cousin is a professor of economics at Cornell. I made it through 5 years at community college getting all my math, physics and chemistry out of the way before transferring for my upper level courses. Sure enough, it led me here. https://jlcollinsnh.com/2013/12/16/betterment-wants-to-give-you-25/. Something to add if you ever do a new edition of the book is to point out that your (home) currency is not a reliable arbiter of wealth. Benz: You alluded to indexing earlier. JL Collins is a financial expert and author. I wonder if working in the ad game causes some sort of DNA alteration that induces automobile masochism. I am curious how you would deal with this? We are very appreciated if you can help us to get this information. And, of course, that was salvation for my mother. Thanks for the kind words and interest, Justin! Firstly, great website. But that was over in a month or six weeks or something. Case Study #3: Let's get Tom to Latin America! Just to close, I wanted to get back to your Simple Path to Wealth. The Dow holds about 30 stocks and you can Google to see just which ones and how they fit your goals. Thank you so much for not only sharing your strategies, but for making people like me actually understand it. I tried the retirement thing about 15 years ago,when I was in my late 30s. J L Collins The Simple Path to Wealth: Your road map to financial independence and a rich, free life Kindle Edition by JL Collins (Author), Mr. Money Mustache (Foreword) Format: Kindle Edition 8,954 ratings See all formats and editions Kindle Edition 449.00 Read with Our Free App Audiobook 0.00 Free with your Audible trial Great on Kindle Ive been reading your site pretty intently but I have a few questions that do not seem to be addressed anywhere and I was hoping I can ask you by email. Is it really still as simple today to say, the market will always go up? So, you're just better off getting that money to work in the market as soon as possible. Im glad to see it reach and help as many as possible! We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. Society encourages it. I have been consuming a ton of information on the subject lately, the foundation of that pursuit being The Simple Path. I've put it out there. 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. And, of course, I'm human. What would it take to get 5 minutes with you on a call or zoom? In fact, I say for young people who are just starting out investing, the best possible thing that could happen would be a major crash, because now you're just buying things at a lower level. https://curryfinance.com/2017/11/19/why-i-like-vanguard-balanced-fund-vwiax/. I know youre probably super busy and probably get asked to do interviews all the time. Can I email you directly? He just opened his first Roth IRA. Not only traveled by elephant, but herded rhinoceros by elephant back in Nepal. Its expense ratio is 0.15 similar to Target retirement funds. Stocks -- Part III: Most people lose money in the market. I guess its better than stock picking, but does this enough of a diversification? As I get older, I am quickly coming closer to the age where having a basket of fixed assets will make a lot of sense versus 100% stocks. You have to be willing to accept the fact that at any given moment, the money you have invested in stocks has the potential of dropping dramatically. But there's some subject matter, topics that are just harder for some people to absorb than others. Were Mergen Digitals LLC, a Texas-based Digital Marketing Company. I am just getting ready to retire and roll my 401K which is already in Vanguard through my company and am considering leaving in with Vanguard and just moving everything to Vanguard Total Stock Index Fund. Best of luck as always, and hope you find your illusive inner-self. About J L Collins These days, I'm a book author and financial blogger on jlcollinsnh.com, but it wasn't always so. Have a wonderful nice and safe Trip!!!! Heres an archive showing my previous 100+ guests: https://www.ngpf.org/podcasts/. I plan on investing a major chunk of my savings in the coming days. , Saw you on an interview on youtube speaking about House owning vs renting Its possible? We also continue to see markets move upward, as TINA (there is no alternative) to the stock market (not viable, at least). Because if I'm wrong, I don't want it to move the needle too much. The simplest solution is usually the correct solution. Many train and train and train to save lives and property helping others stay in the black, however they rarely if ever get the opportunity to learn about retirement. You didnt account for inflation(and fees, which are harder). I have read every post youve ever created, and I find your style funny, engaging, and right on target. The investing world for the average investor is far, far, far better because of Jack Bogle and what he did. When you're working, and you have cash flowing in, and if you're smart and you're following my advice, you're taking a significant portion of that, and you're channeling it toward your investments. Vs renting its possible once I do n't want it to move needle. Triumph Spitfire, its a 1980, 1500 we built Wealth using a similar strategy as JL Collins-using funds! 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