Can you just talk about how it is you concluded that the right path to try to lead people toward is this more minimalist indexing-centric approach that you ultimately embraced? This may be too specific a question among the myriad that must reach you, but if you have an assessment of this new offer by Vanguard, Im sure your German readers would appreciate it! Yahoo and Google only seem to start at year 2000 and Vanguard only gives up to 10 year performance that I could find. I am 25 years old and planning to invest long term. Anyway, I just wanted to thank you for sharing your thoughts. The expectancy of these guys and gals is short, the course of their work beats them up so they really only have 30 years before its over. thank you so much. His advice to her not only evolved into that book, but he also keeps a blog and runs workshops and seminars. Should our investments be 50% total index equities and 50% index total bond market ? Buyer Beware! Any thoughts? If so, is it a good idea to wait buying stocks till market drops such as these occur? I would have one question, which, to my surprise is rarely discussed. I read your book and other authors about investing. I just increased my pre-tax contribution to 10%. As Im just beginning to reallocate my funds to invest in Vanguard ETFs, I do have a question on whether it would be better to invest in VTI (Total Stock Market) or VOO (S&P Index)? 4. The Simple Path To Wealth. Today in honor of love we opened a brokerage account at Vanguard. 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. Thanks a lot for the quick reaponse.huge respect.. Hi JL! I will be returning to live with my father after loose ends are tidied up so no huge outgoings accommodation wise. So if you already have significant wealth try it out and make sure you have ice cold nerves, a lot of pre-existing nest money that you dont need to use, and time to spare (by the way time is still the most valuable quantity). I dont feel comfortable discussing race in a public site, as anyway none of this matters in the journey to FI. Yes, the markets have been down, but we will come out of this mess and the economy will recover. Would renting a 1BR/2BR be more frugal vs buying when all is said and done? By the same token, if the market just stays flat, your result will be less because it took you longer to put that money to work. A few things have gone our way, we lived in a self converted Dodge sprinter van for the last 2 years of college (this is what people used to do with houses when they were affordable right? Finally, I have a no-nonsense guide to securing a bright future for us and our new child. He blogs about financial and other matters at JLCollinsnh.com. Thanks. Through reading your series, bouncing to all the external links, and re organizing my portfolio Ive come to understand why Im working and what Im working for. My fianc and I were recently told about your book from family friends of ours Scott and Taylor from Playing with FIRE Documentary! The ER is a nice low .12% and current yield is 3.87% which is paid out quarterly. Not that I deserve it. I started blogging last year so feel free to come by and say hello, hopefully, it will be interested to follow me on my path to freedom! But I say, if you read my book, or you try to read my book, and your eyes are still glazing over, and this is just not something you want to deal with, then I think a target-date fund is probably a pretty good solution. I'm excited, thanks. I have expectations of using my tax-deferred IRA to support living and to make charitable giving in retirement, fulfilling the RMD annually. Your take on the classic scene from The Gambler is a classic with so many gems in there. 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.. Im interested to see what your thoughts on this are. But if it goes that far, that you cannot afford the goods which constitute a modest normal life, there might be a problem anyway. And I've written my book to be as simple as possible, The Simple Path to Wealth. Very interesting life so far Jim! We both work for the same employer. All those years that post has been up and only now someone noticed? and Dr. Any thoughts would be immensely appreciated. So, that's probably my biggest mistake. I have a popular podcast network where we narrate the best blogs covering finance & personal development. And .. as you said in your book, if you suddenly sell 5000 copies to Vanguard, I will expect my 15% cut. But when do you actually sell the gain/stock to have that money, or do you just hold it as long as possible? They decided to get serious about their savings goals and committed to building a portfolio of at least $1 million by February 2017, 1,500 days later, in order to retire at age 43. Im pretty new on this subject, however I have decided to invest in the VTSAX. You are never too old to adjust your investment holdings properly, and certainly not at the tender age of 59. Would you plz contact me at the email address for further information? You should expand the book and contract it. 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. This account is much larger, about $100k. From there I found MF and MMM. Their average age is 25 and the money they earn sits in bank accounts earning nothing. From busboy, produce, clerk, and gas station attendant, to ad agency founder, sales trainer, radio co-host, and publisher. I do the same with books on occasion. VTWSX is the world stock market index fund. J L Collins The Simple Path to Wealth: Your road map to financial independence and a rich, free life Paperback - 18 Jun. You're going to furnish it and most people when they buy a house are buying bigger space than what they were renting. But, as Andy Rooney once said, Never expect too much from your company. I am looking for websites to publish sponsored articles with a link back to We have a high deductible health care plan where we pay $650 per month out of pocket for insurance. Benz: What was your career path prior to you becoming a financial blogger? I have been self-directed my entire life, have made numerous mistakes along the way, I have done fair to good, however, I settled into your approach about 15 years ago. Im not optimistic for the future. I put a hold on this until I could review the tax implications. I earn 35,700 yearly and I love to save. Most of these are industries I dont feel comfortable supporting, even though I have been by owning so much VTSAX. Collins: Jeff, there wasn't a road on Damascus kind of moment. And any book that you would recommend as a follow up of yours? I am looking forward to hearing from you. Luckily, 2 years later, she inherited enough money from a parent to destroy that debt completely and start a seed for our investing future. A true Financi. Thanks for the kind words and interest, Justin! The financial institutions encourage it. As I say, that's not out yet. People rarely buy a house without wanting to upgrade it. It says Opps, instead of Oops. And, by putting it here, the world gets to see it! I am concerned about the incurred capital gains. Just recently discovered your website and so thankful I did! very cool that you took a year off, kinda like a retirement preview. Feel free to send more info. I figured if I could do that twice a week,or hell,even 5 times a month,I could make it. . We are interested in publishing them in complex Chinese-language in Taiwan, is this book available? For instance, when you have children and that sort of thing. So, what does a month in Ecuador cost anyway? They have always been and will continue to be parallel. Thanks for your help. Do we combine? Instead of rolling fidelity to my new plan I was thinking of rolling to the IRA. Please email me. I have seem many wholesalers from fund or annuity sponsors tout their latest flavor of the day and fail miserably the following year later . Maximized 401K etc. I put your book on my wishlist, but didnt read it at first because your book isnt available at my library. And with very rare exception, renting is far more powerful than homeownership and your lower monthly costs in that apartment over owning that house with all the expenses that come with it, invested in index funds over time will probably make you much wealthier. Who knew that a four-year-old would want to go through The Wall Street Journal with you, but there you go. Now, we have zero debt, and several hundred grand growing in VTSAX and 401Ks and are on track to be completely financially independent within 7 to 9 years. So, we can cross him off the list. If you have already addressed this elsewhere then my apologies, but I am really curious about your thoughts on this. Maybe a quick autograph inside would be super cool as well, Thanks And I may have forgotten one or two. Dear Mr. J.L.Collins, I am thinking of investing the 100k in VTSMX and VGTSX at the 70% and 30% ratio. And that, is pure nonsense! Like you said in your book I should've been eating the rice with ketchup instead of the sushi dinners but it seemed so normal to go out for every meal! So, investing was an avocation rather than a vocation for me. ($24K)! Case Study #3: Let's get Tom to Latin America! THANK YOU! thank you very much for the enormously valuable thoughts and informations you bring to so many readers out there for free. And if you have a property manager, you're going to have to manage the manager. And as we talked about a little bit earlier, nobody knows when these drops are coming. Thanks for your interest, but I do not accept paid postings. I was wondering if it is better to select an ETF from Vanguard vs. a Mutual fund that represents VTSAX. 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. . This is especially important because these documents provide information about fees, advisor education, and investment policies. (https://calendly.com/na-tawakkol/15min) 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). Im keeping this roth IRA for my kids (education or whatever they want or myself as well just in case they dont need it at the time), investing horizon of next 15 yr at about 150-200 per month, starting the fun with an initial investment of $10K. 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. Enjoy your Spitfire. And, of course, the house you get for that set price of money is dramatically different depending on where it's located. I got crazy about saving over the last few years, and was able to open Vanguard accounts for my kids (100% VTSAX), while continuing to add to my own Vanguard account. In the book Everyday Millionaires, the survey found: 79% of millionaires built wealth using a company plan ( e.g. Great contents and sharing. The Boglehead book is very USA centric but some amazingly simple threads that come out of it that are like universal laws of nature, like gravity, applies to us all wherever we live. So, I think 4% is a pretty reasonable and fairly conservative number. Thanks again for the blog post. i wish i had known about these investment strategies way sooner. Im working on it. So thank you for all your insights and advice. Thank you for taking the time to share your experience and insight? I guess this topic would deserve an in depth exploration. Obviously, it proved pivotal to the success that you've had. I fell for all the JK Collins wealth marketing for years. Is there an interior designer in the house? How do I send it? But here's the kicker. 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. I live in Portsmouth, NH and would be very interested in learning about any ongoing events. GBP or ZAR in 2008. This is not just a Betterment thing. haha. I realise your a busy man so I will keep this short , I live in Scotland (U.K.) and my current investment holdings are:-, Vanguard: target retirement fund For a refresher: https://jlcollinsnh.com/2017/04/14/sell-sell-sell-sell/. I understand the value of rolling them all into my IRA. 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. The rest is history. 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?. I just discovered this great forum, am I late? CONDENSE: Create a one page (maybe trifold) condensed version and give it away on Amazon or in paper version, for free. Thanks much! This was the first civilized meal, but more important the conversation about how to handle their savings and investing. Download. I know I had to pay fees. I look forward to hearing back from you via email. That makes her hot. Ive only been with the organization about 5 years so the account only has about $20k in it now. You can't become wealthy if you're carrying debt. Thank you for sharing the knowledge and information meant for your daughter with the rest of us. I bought the first one, a 72 Mark IV back in 84, sold it in 1988. Everything You Should Have Been Taught About Investing in School, But Weren't, by Brian Feroldi, Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required, by Kristy Shen and Bryce Leung, Cashing Out: Win the Wealth Game by Walking Away, by Julien and Kiersten, Taking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life, by Jordan Grumet. Congrats on your retirement,or whatever it is.Im not one of those people who thinks that you have to keep working or you die.I dont get bored easily.I can always find something constructive(or at least amusing)to do.Personally,I could retire right now,and live happily another 40 years without ever thinking I was wasting my life.In fact,quite the opposite.I think work is gonna kill me early,if anything. And I suppose it was more of a reinforcement. May 2021 be both safe and less intense. 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