Ive traveled to and around those places by plane, train, bus, boat, subway, taxi, hired car, motorcycle, bicycle, rickshaw, hitch-hiking, foot, horse, donkey and elephant. In fact, I've come to say these days that I've spent every dime that has ever come into my possession, and I spend it almost immediately. If we sell up, we could quit the grind and design our own lives, tomorrow. . Jenat is here. Please add me to the blog post emails. Keep up the great work! I am not a financial advisor, just some schmuck with a 9 to 5 day job. In fact, I make fun of in in many places, most recently in my April Fools post here: https://jlcollinsnh.com/2020/04/01/why-i-will-no-longer-be-writing-this-blog/, 1. If so, is it a good idea to wait buying stocks till market drops such as these occur? I love seeing stocks on sale now for the IRA I just started contributing to, but Im in a bit of a predicament as to when and how best to move everything into that one personal account. OK, that wasnt fair. I thank you for this greatly. ). . Thank you for your interest. So, as Jack Bogle once said, performance comes and goes, but fees are forever. The books arrived a bit over a week ago. Let me know if you have any concerns. And there are a lot of stories, kind of like the meme stocks, of people who buy houses, and the house goes up dramatically, and they do very well. I have an odd question and was wondering if you would be able to maybe send me and my team the stock series books or just the The Simple Path to Wealth? Adult life used to be so terrifying because I had just presumed that one had to work continuously until they were 70 in order to have a decent life. May 2021 be both safe and less intense. And that, is pure nonsense! These days they are telling me how much they liked your book and what action they took after reading it. And, of course, I talk about the wealth-building power of stocks. Just let me know. Did US also start this way actively managed funds beating Index and then fading away? Im beyond curious what you make of todays volatility compared to when you wrote your book. I only have access to fidelity Investments. Am 59years old and my husband is 60. At the very beginning of our conversation, I mentioned that I found my way wandering in the wilderness basically. You state that you dont need the money her salary brings, so whats the point of her working and that her time is better spent at home with your daughter. Better to learn a bit to do it for yourself. I bought your book and loved it, thank you! It was so good I bought three paperback copies for my three daughters (24, 22, 19). approach that spoke to me as I prefer things to be as simple as They'll pick different locations in the United States and they'll show a picture of a house you can buy in Tennessee for $1 million versus Florida versus California versus New York. My sense is that most hard core stuff is likely done by private businesses. I am diving deep and I am learning so much. What a great site. Ive have listened to your book twice (We road trip a lot) and have taken extensive notes. Like we have at 43 only 2 years ago. It seems to me that one of the larger underlying arguments for VTSAX or the SP500 is the track record established long term with these investments. Chautauqua 2015 Reviews, 2016 registration open, Case Study #15: The Scavenger Life -- Freedom first, then Financial Independence, 3rd Annual (2015) Louis Rukeyser Memorial Market Prediction Contest results, and my forecast for 2016, Personal Capital; and how to unload your unwanted stocks and funds, Stockchoker: A look back at what your investment might have been, Case Study #14: To Dream the Impossible Dream (and then realize it), Gone for Summer, an important note on comments and random cool stuff that caught my eye, Stocks Part VIII: The 401(k), 403(b), TSP, IRA & Roth Buckets, Stocks -- Part XXVIII: Debt - The Unacceptable Burden, Case Study #12: Escaping a soul-crushing job before you're 70, Case Study #11: John, a small business owner in transition, Trish and Stan take an Intrepid Sailing Voyage, 2014 Annual Louis Rukeyser Memorial Market Prediction Contest results, and my forecast for 2015, Chautauqua February 7-14, 2015: Escape from Winter, Stocks -- Part XXVII: Why I Dont Like Dollar Cost Averaging, Jack Bogle and the Presidential Medal of Freedom. Thanks for the reply, I kind of guessed you would answer in this way. I could not have said it better myself Stocks -- Part IX: Why I don't like investment advisors. People buy it when things are bad, driving up its value. The Good for Your Wealth Top 5 List of Books for Financial Independence. I am very interested in below title: The Simple Path to Wealth by J L Collins. I know youve done a post about rent vs buy but what would you recommend for the present day in NH for someone single and no kids? Let's suppose that you dollar cost average, and maybe the market drifts up a little bit, maybe it drifts down a little bit. I'm not predicting either of those things to be clear, just as an example. My name is Dustin and I work with a faith foundation, helping families give generously, maximize their impact, and leave a lasting legacy. 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. Question: 1 One question: Many in the academic community feel you can get maybe an extra 1% long term by adding small and/or value to your equity portfolio, without adding much volatility. So, I'm going to break it up into $10,000 chunks and I'm going to invest it over the next year. Well, if the market goes up, the second month you invest you're getting fewer shares for your $10,000 and the third fewer and fewer. You nailed it! Or if not, what sort of intervention do you think is needed to set them on the right path? Thanks for the kind words and for linking to my Stock Series in that post. Add the Black Rock fund and make sure the performance tracts VTSAX closely. s.e., lov 4 ing wife of Sell Collins. "Harry M. * Collins; three stepsons, Sergt William C. * Collins, Glover and Amos Coninsf one step t daughter. Just be patient. You'll never find a wiser advisor with a bigger heart." And so, that's really the comparison you're making is, is this a good investment, not only a good way to deploy my money, but a big chunk of my time, and/or some chunk of my time? haha. We need to: And if you don't pay any attention, you could wind up 30 years later with a huge pile of money that you could have enjoyed along the way. 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. 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. Gerry, Thanks for posting the story here: https://jlcollinsnh.com/2016/07/07/reviews-of-the-simple-path-to-wealth-gone-for-summer/#comment-4216305. Even the Vanguard social index fund may raise some concerns with people that have ethical concerns. *we are paying off our new van as well but we put money down on a private loan, and have been making steep payments which are still a fraction of what rent would cost where we want to live. Part 2 of the Stock Series discussion with JL Collins, author of The Simple Path to Wealth and the website JLCollinsNH; we discuss the Great Depression and t. Also, if you think it deserves it, please put a 5-star review of the book on Amazon. I also want to thank you for the warm and humane way you do that, which makes reading your blog a recreational and uplifting experience. Now, for my second question, which has to do more with the psychology of investing. Would this be a good option, rather than trying to do it myself? With that in mind. So, my main thought was watching this is theres going to be a lot of tears for a lot of people. . My sense is we all have emotional issues around money, they just differ. I am curious how you would deal with this? What am I missing? Nightmare on Wall Street: Will the Blood Bath Continue? Please reach out if you would be interested. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive. Could you please ask your agent to contact me? That is really the only way active management can outperform the index over time. . 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. My talk at Google is also a good overview of my investing philosophy: I started out writing this for my daughter. I just had to let you know once again you have changed my life forever! . Thanks, TFR, Please send it along if you like, but please understand it may be quite sometime before I am able to take a look.. and you buy your freedom and your time by virtue of having investments. If you have any questions, please do not hesitate to let us know. As I point out in this post: https://jlcollinsnh.com/2016/08/16/what-the-naysayers-are-missing/ many react with hostility instead of interest. EXPAND: There are at least three places where additional information would strengthen your arguments: 1. Do let me know if you accept paid posts. My office is next to a big name financial advisor, and I get a little sense of pride every time I walk by and DONT go in. Collins: That, Jeff, is a question that pertains to us, personally. for your very kind words. Benz: What was your career path prior to you becoming a financial blogger? And I think I have a chapter in my book about them, too. However, physicians being as busy as they are, and not as interested in finance (too broad a brushstroke probably), I thought a summary- or a 5-minute version- might be helpful. And ohh the irony of what was said in this post, the date that is was posted, and what was happening in the market when it was posted. First I would like to thank you for the amazing book it changes my perspective about investing (and hopefully my life in the future ) ! I think your mutual fund recommendations are great for people with limited math ability or no interest in investing, but what about you? Im kinda retired, will be 60 next month, an investor for 45 years, two kids and a long marriage. I am new to your work and read your book this week. Ptak: To stick with target-date funds for a minute, if we could, it sounds like maybe you feel like they overdo it a little bit--not to put words in your mouth--just in terms of the number or type of exposures that are delivered through the fund-of-funds structure. or both? Amazon sets the prices and, as far as I know, there is no way to buy it in bulk at a discount. But target-date funds are not a bad approach. But right now, I am not sure, what this conditions x,y,z could be. Check out the interview schedule/archive thread: https://www.reddit.com/r/financialindependence/comments/65tdwj/schedule_for_semimonthly_rfinancialindependence/. So, I think 4% is a pretty reasonable and fairly conservative number. That didnt help give me an edge over the Index fund over a 10 year period. Glad you found your way here and that you are reading thru the site. Im not sure if you are replying to comments but its worth a try. Best, Would love to discuss any opportunity to collaborate. So if everyone else in the fund panics due to a recession, and demands their money back, the fund has no choice but to sell some of these fixed assets at a reduced price to allow their clients to redeem their funds. I went from what am I supposed to do with this growing pile of lazy cash? to My Stock/bond allocation will be xx/(1-xx), and total market funds only, since I want both value and growth.. I fell for all the JK Collins wealth marketing for years. But my book is pretty simple, and it does seem to resonate with a lot of people who are otherwise disinterested in this stuff. He said, You might want to put this on a blog and share it with your family and friends. This was in 2011. JL Collins on Financial Independence and The Simple Path to Wealth July 28, 2020 By writing a series of blog posts about personal finance and stock market investing intended for his daughter, JL Collins (somewhat by accident) reached an international audience of millions. 2. Her looks, her brains, her charm (she takes after her mother) and her behavior. Im at ease for the first time in my life. Any interest? Instead, the Stock Market Game captures teens attention but not the lessons they need to learn about investing. Then stocks fell and sold everything at what I considered to be a high of 152. Do you have a time frame in mind? The rest is history. Im Vincent Lin from Big Apple Agency. He was viewed with great skepticism by the participants. Only 1 in 20 actively managed funds managed to beat the S&P index! But to me, a bond funds seem to have the limited upside that is a feature of bonds with all the volatility of stocks. I will be calling Canada home soon which is why Ive opted to trade on the TSE. How I failed my daughter and a simple path to wealth, https://jlcollinsnh.com/2011/06/03/my-short-attention-span/, https://jlcollinsnh.com/2012/05/12/stocks-part-vi-portfolio-ideas-to-build-and-keep-your-wealth/, https://jlcollinsnh.com/2012/09/26/stocks-part-xi-international-funds-2/, https://jlcollinsnh.com/2012/10/01/stocks-part-xii-bonds-and-a-bit-on-reits/, http://www.caniretireyet.com/long-term-care-insurance-why-we-arent-buying-it/, https://jlcollinsnh.com/2015/06/02/stocks-part-viii-the-401k-403b-tsp-ira-roth-buckets/, https://jlcollinsnh.com/2011/06/06/why-you-need-f-you-money/, https://jlcollinsnh.com/2015/03/12/chautauqua-october-2015-times-two/, https://jlcollinsnh.com/ask-jlcollinsnh/#comment-4213814, https://en.wikipedia.org/wiki/G._K._Chesterton, http://tenfactorialrocks.com/how-to-invest-efficiently/, https://jlcollinsnh.com/2016/08/16/what-the-naysayers-are-missing/#comment-4215699, https://jlcollinsnh.com/2016/08/16/what-the-naysayers-are-missing/, https://jlcollinsnh.com/2011/06/08/how-i-failed-my-daughter-and-a-simple-path-to-wealth/, https://www.newretirement.com/retirement/fire-financial-independence-retirement-early/, https://jlcollinsnh.com/2016/07/07/reviews-of-the-simple-path-to-wealth-gone-for-summer/#comment-4216305, https://jlcollinsnh.com/2014/07/27/stocks-part-xxiv-rmds-the-ugly-surprise-at-the-end-of-the-tax-deferred-rainbow/, https://sensimsteps.blogspot.se/2017/01/the-simple-path-to-wealth-boktips.html, http://www.marketwatch.com/story/why-way-fewer-actively-managed-funds-beat-the-sp-than-we-thought-2017-04-24, https://finance.yahoo.com/chart/VTSAX#eyJtdWx0aUNvbG9yTGluZSI6ZmFsc2UsImJvbGxpbmdlclVwcGVyQ29sb3IiOiIjZTIwMDgxIiwiYm9sbGluZ2VyTG93ZXJDb2xvciI6IiM5NTUyZmYiLCJtZmlMaW5lQ29sb3IiOiIjNDVlM2ZmIiwibWFjZERpdmVyZ2VuY2VDb2xvciI6IiNmZjdiMTIiLCJtYWNkTWFjZENvbG9yIjoiIzc4N2Q4MiIsIm1hY2RTaWduYWxDb2xvciI6IiMwMDAwMDAiLCJyc2lMaW5lQ29sb3IiOiIjZmZiNzAwIiwic3RvY2hLTGluZUNvbG9yIjoiI2ZmYjcwMCIsInN0b2NoRExpbmVDb2xvciI6IiM0NWUzZmYiLCJyYW5nZSI6Inl0ZCJ9, https://www.reddit.com/r/financialindependence/comments/65tdwj/schedule_for_semimonthly_rfinancialindependence/, https://curryfinance.com/2017/11/19/why-i-like-vanguard-balanced-fund-vwiax/, https://personal.vanguard.com/us/funds/snapshot?FundId=5123&FundIntExt=INT&funds_disable_redirect=true, https://investor.vanguard.com/mutual-funds/profile/VTSAX, https://jlcollinsnh.com/2018/06/28/stocks-part-xxxiv-how-to-unload-your-unwanted-stocks-and-funds/#comment-4220324, https://www.madfientist.com/sane-fientist-interview/, https://www.benzinga.com/investing/best-investing-books-for-beginners/, https://www.millennial-revolution.com/investworkshop/, https://www.inc.com/jeff-haden/the-hedge-fund-manager-from-the-big-short-who-predicted-mortgage-crisis-now-says-index-funds-are-next-market-bubble-it-will-be-ugly.html, https://physicianfinancebasics.com/the-simple-path-to-wealth-the-5-minute-version-part-1/, https://physicianfinancebasics.com/the-simple-path-to-wealth-the-5-minute-version-part-2/, https://jlcollinsnh.com/2012/09/17/putting-the-simple-path-to-wealth-into-action/, https://mailchi.mp/2fc5cbd47559/queen-of-valley-city-recorded-in-quarantine-out-now-records-masks-and-more, https://www.berkshirehathaway.com/2020ar/2020ar.pdf, https://www.de.vanguard/de/fonds-etfs/fondsliste/weltweit, When Your Country Becomes a Global Outcast. 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