Would renting a 1BR/2BR be more frugal vs buying when all is said and done? J.L. And, of course, both of those stocks, they're not value stocks, shall we say? I am halfway through your book. Regardless, it kept me out of trouble to not drink and yeah I could save money this way too! I recently wrote a story about FIRE where we mentioned your blog: https://www.newretirement.com/retirement/fire-financial-independence-retirement-early/. Peter G. Actually, 1 in 20 is generous. We find for most questions, he has already covered the topic. Having said that, when I last hung up my last corporate job, I think my withdrawal rate was about 5% because my daughter was in college at the time, and I was comfortable with 5%, because looking at the Trinity study, 5% has an extraordinarily high success ratio. I've owned houses most of my adult life. Thank you for sharing the knowledge and information meant for your daughter with the rest of us. I am not sure, if I make some mistake in this line of thought. So, there's a whole generation of people who've never experienced a crash. Well, you are here now, and I have 220 notes of advice to process and implement. Rent v. owning: A couple of case studies in Ecuador. Thanks from here in New Zealand. A google search later and I came across your site. Just recently discovered your website and so thankful I did! Let me check out your site and Ill send you a PM. Im writing here not only to thank you, but to ask a question (and I couldnt find where else I could send this ) I write stories in my spare (and not so spare) time, and Ive created a character that is most definitely inspired by you and your blog. His first book, The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life was published in 2016 and has been an international best-seller. Ive subscribed. Hello- I just started your book The Simple Path. My Retirement plans include traveling with my Girlfriend, Fishing, Hunting and Volunteering. Empty nester; either rent or live in a paid off (15 year mortgage) house from stage 2. 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.. He is right. So, I am sort of broken myself of the addiction. Benz: George Castady is our engineer for the podcast and Kari Greczek produces the show notes each week. BTW, the easiest sub process ever. 1. I don't know the answer to that question. So, I'd be just selecting one or two. Please let me know if youre up for itall I need is a yeshere or by email would work. Somehow it jumps out at me every time I read it. 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 have really enjoyed reading through your website. While Ive never written to you before, I am moved to do so this time. . Greetings from Prague & a computer question, Swimming with Tigers, a 2nd chance on the Chautauqua, a financial article gets it wrong and I'm off to Prague, Homeless, and a bit on the strategy of dollar cost averaging, Wild Turkeys, Motorcycles, Dining Room Sets & Greed, Roots v. Wings: considering home ownership, Meet Mr. Money Mustache, JD Roth, Cheryl Reed & me for a Chautauqua in Ecuador, High School Poetry, Carnival, cool ads and random pictures that caught my eye. Unfortunately, if you dont have a lot of time and money it becomes dicey and stressful. Cheers!! This is very confusing and would LOVE to hear your thoughts? My plan is to choose to work as an investing research analyst after early retirement. Im putting together a project for other young people based on books recommended by all the successful people around me. I reread the posts and still cant decide what to allocate! And more. Please reach out to me by email if youre interested in discussing. The stock market return as the best investment is valid in either nominal or real dollars, but you address the difference. I have a post or two planned about people Ive met whove been able to make that happen. Though it is a younger ETF, it seems VOO has slightly outperformed VTI historically. Ill keep an eye out for more books in the posts. I listened to your Talks at Google podcast and Im around 3 quarters through your book at the moment. I love how you break everything down and make it super easy for me to understand. Benz: Thank you for joining us on The Long View. editorial policies. I was given a copy of your book as a gift a few months ago. 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! When I came across your book, it seemed to me everyone should read it. That helps a lot. 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. I am far from AA, dont know how you got that impression?! The main character, Erik, is a fan. To be clear, it doesn't go up three years, and then go down a year, and then go up three years and down a year. but I am afraid Im not going to be able to be much help. Investments 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. That is for you to decide, once you have learned enough to make an informed decision. I have since bought into index funds. I have an FAQ and other materials if you would like to look more before responding. I know youre all about simplicity, I am too. Collins' first book, The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life was published in 2016 and has been an international best-seller. Loved the book btw. Id try to figure out how to live on just my partners income, go to school part-time and keep working, or keep working until I had the money saved. I walked away with my pension of 35k and thats it after solicitors were paid. Best of luck as always, and hope you find your illusive inner-self. 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. We just started saving drastically now from past one year before that we were settling and came from another country etc.. Basically we are starting out fresh to get FI. Christine Benz: Hi, and welcome to The Long View. Being that I am not sure as to whether I will have enough income to max out my 2023 IRA contributions, do you recommend saving what I have now to invest with my IRA next year or investing now with my brokerage account? And rich. What happened in 2013 that made VTSAX explode after staying more or less constant from 2000 2013? . A ROTH IRA is not tax deductible. Could you please advise if the Chinese translation rights are handled by you directly and is still available? #1 Simple Path to Wealth by JL Collins. To go into the Presidency at twenty-five thousand dollars a year is, perhaps, to gain more fame; but what is to become of him at the end of his Presidency? The value of disposable income when you are still young enough to use it should also be addressed. Peter Lynch was my first exposure to mutual funds. 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. Mrs, Sarah Middleton; one sister, And one of the highest compliments I get from people is that, Wow, I've tried to read a lot of finance books and finally, reading yours, this stuff makes sense. So, that's who I'm writing for. One Taiwanese publisher is interested in the complex Chinese rights of The Simple Path to Wealth, and would like to learn more about the book. I had no frame of reference to that point. It is in Ronda. You should expand the book and contract it. The key distinction is that one is taxable when withdrawn (the Taxable bucket) as compared to the Roth. Open up Index funds! My name is Dustin and I work with a faith foundation, helping families give generously, maximize their impact, and leave a lasting legacy. Would it be profitable to invest in a (non Vanguard) ethical ETF which tracks the American market, whilst living in the UK? Happened across your website via MMM. 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. New job for you or volunteer work? But it's a lot tougher to actually weather a bear market or a crash. I think I mentioned a little bit earlier in our conversation that my dad had dabbled with stocks based on some tips and he got burned and that was the end of that. So, that's a new expense and tends to be a big one. 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. Red Wing, MN (where the boots are made:), Please notify me when new articles are published. My time horizon is about 8 10 years (Im 62). Sailboat and disappear to South Pacific? Is the market more likely to go up over this year, I'm going to do it? My internet comments tend to be longer than I plan, so Ill put my most important piece first (sounds like I need to work on my writing, ha! And I'm not against international exposure, but I don't see the need for it. When we graduated we realized what a craze had taken off over the #vanlife and we were able to sell our van for $36K profiting $14K and getting all of our investment back Life Changer. How should they embark on that de-risking process to protect themselves against the kind of downdraft that you were just discussing? Much appreciated. "Harry M. * Collins; three stepsons, Sergt William C. * Collins, Glover and Amos Coninsf one step t daughter. If so, can you send the details? 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. Please let me know if it is available in Korea. If you're going to panic and sell, you don't want to follow my advice, you don't want to be in the market at all. Hello! I do not know. There is an old saying attributed to Will Rogers, The first thing a man does when he comes into a little money is buy too much house. It is true. Pricing and sales are out of my hands and set by Amazon. And, of course, I'm human. few weeks ago a friend of mine sent me the video of the talk you gave at Google. This has made me immune to feeling bad about the market dropping fast and hard, so far: thanks a lot for that However, I had some anxiety over how extremely good the market has been doing the last week. Morningstar and its affiliates are not affiliated with this guest or his or her business affiliates unless otherwise stated. "Why Your House Is a Terrible Investment," by JL Collins, jlcollinsnh.com, May 29, 2013. FULL PENSION . That is not bad. This document was uploaded by user and they confirmed that they have the permission to share it. That makes her hot. I found my way to the path I espouse now by basically wandering in the wilderness for decades and making every conceivable mistake you can think of. Our daughter was born in 1992. I was introduced to your blogs through Frugalwoods website and I have enjoyed reading all your info. My father is still working and probably will not touch this until retirement, he is unsure when he will stop working. Im working on it. Thank you for stating this so simply. My parents didnt tell us shit about finances. VTWSX is the world stock market index fund. March 13, 2020 was a good time to be buying Vtsax as it was around $60. I just came across Simple Path to Wealth recommended on a subreddit and have been listening to it on audiobook. First and foremost, Vanguard is owned by the investors in Vanguard funds. I am not able to find it. I have been called The Godfather of FI. This feels scary, because it is bound to go down, and it leaves me wondering whether I should sell now. P.S. Vanguards in the process of converting the investor shares to admiral shares (VTSAX). JL Collins, author of the famous stock series that later became one of the best personal finance books ever written The Simple Path To Wealth. You might also post both here: https://jlcollinsnh.com/2017/04/14/sell-sell-sell-sell/. You are my hero! This blog is right up my alley. So, it would be the international stuff that is the most obvious. And I suppose if I were going to add some spice to my index funds, I would want to look at that kind of thing. In one week, I had a 6% increase of the worth of my stocks (which isnt insane, but it still feels odd to gain 1200 in a week while doing nothing for it). but, better late than never right? I recommend VAIAX . Have a wonderful nice and safe Trip!!!! Thank you for considering. 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! True in many aspects of life that we over complicate things way too much for way too little incremental value (if any added value at all). Haven't gotten into more trouble since either, other than just some more college DEBT. Looking forward to your future articles and adventures. Thanks Jim You note that the market usually goes up. Jim, loved the book. Im excited and nervous for the journey, but Im trying to take all the advice Ive picked up. And I've written my book to be as simple as possible, The Simple Path to Wealth. I had done my own mix of funds and had kept it untouched for about 10 years. I have already maxed out my 2022 IRA contributions and have been investing my additional income with my brokerage account. Could you elaborate a little bit on that? They are very tax friendly and can be cash accessible. But my book is pretty simple, and it does seem to resonate with a lot of people who are otherwise disinterested in this stuff. However, I just dont have to the time to become as involved in your site as you suggest. I had an old 401k through Fidelity. We continued saving as much as possible while putting our 3 kids through university. Who knew that a four-year-old would want to go through The Wall Street Journal with you, but there you go. I have nobody in my life whos ever been in a position to teach me. I am writing to inquire whether the Chinese complex copyright for THE SIMPLE PATH TO WEALTH(1st edition) still available? . They are looking out for their best interest and not the client. . The blog is best known for the Stock Series. If the Japanese rights are still available, could you please send us a pdf for their review? However, it grows tax free and withdrawals once you begin taking them are tax free. Merry Christmas & Happy New Year. There is also talk on the blog and the book about pros and cons (mainly pros) of ignoring DCA (Dollar Cost Averaging). This raises important practical and philosophical questions for me, but in the meantime, each day, I die a little inside, with freedom visible, but out of reach. When you're watching your holdings dwindle in value, and I do sometimes wonder, are the people who read my stuff going to be able to weather that crash just based on having read about it? Congratulations to JL Collins. Thanks for the kind words and for taking the time to comment. August 2021. Second option is to pay them cash of $5105. As I say, I've owned them for most of my adult life, but don't buy them as an investment; buy them when you can easily afford them, and they provide a lifestyle that you're looking for. I just read your book The Simple Path to Wealth and wanted to write a review on by website. Summary. Well also pay cash so that comes to ($xxx 20%). Im not optimistic for the future. 1:11-4:20 Starting his blogging career in retirement. Hi Can I also have a contact with your agent? industries. So, not only does she not have to worry about those market drops, they can work in her favor. From one parent to another. Because if I'm wrong, I don't want it to move the needle too much. INCOME: Currently spinning out of control busy, refining the business model to keep up with demand. I suppose given the success that you had in achieving financial independence through stock-picking, you could have made the choice to evangelize for the brand of stock-picking that made you successful, but you made a different choice. That's a pretty addictive feeling. Case Study #2: Joe -- off to a fast start! Thanks in advance. ETFs were created to make trading indexes easier and, of course, I am opposed to trading. That one came out in 2021. ? We both hold 500 index, extended market, international and bond index in 401k and the expense ratio is .05% altogether. Im honored you are considering my book for your seniors. Thanks for your interest. I really enjoyed your book. I just wanted to let you know that as of November 2018 VTSMX is no longer available. This is an interesting question. Dear Jim, I owned motorcycles: a Honda 350 Sport and a Honda 700 Nighthawk; long ago sold. Today in honor of love we opened a brokerage account at Vanguard. These guys are direct and precise like the book. Id writing to ask if I can interview you. My expectations were confirmed, but not to the degree that you were let down. Could someone explain how this mutual fund works in regards to this topic? I look forward to hearing back from you via email. Great to hear this blog lead you to MF and MMM, two of my personal favorites. A home is where you live.. It's the American tradition. I would lose the F-You money. I would like your opinion on something. Ptak: We enjoyed it, too. 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. One question if you have time. A bunch of authors have given me permission: Mr. Money Mustache, Paula Pant, The Mad Fientist, J. And Im thankful you put it in blog form because for me, as unethical as it may sound, I can read it at my desk job during slow periods. There was the pretty sharp drop during COVID. Or any books you recommend. I'll answer the second part first. Thank you for you time. I have followed your advice and suggestions, am living in Mexico and enjoying it. It covers woodworking tools, raw materials, techniques and constructions, veneering and marquetry, use of glass, metal and leather, and much more. We now live on beautiful Sunshine Coast, Australia after living and working for 17 years in Sydney. Thank you in advance for your time and for writing this book. for the comprehensive review and insights. Check out the interview schedule/archive thread: https://www.reddit.com/r/financialindependence/comments/65tdwj/schedule_for_semimonthly_rfinancialindependence/. Perhaps you could ask them for a bulk discount? Anyway, I just wanted to thank you for sharing your thoughts. An associate of mine said, This is pretty interesting stuff. I shared it with him. Instead, the Stock Market Game captures teens attention but not the lessons they need to learn about investing. Thanks for the reply, I kind of guessed you would answer in this way. Even Bitcoin, for that matter. My response was The Simple Path to Wealth is all anyone needs and I sent him a copy. Stocks Part XXI: Investing with Vanguard for Europeans, Case Study #7: What it looks like when everything financial goes wrong, 1st Annual Louis Rukeyser Memorial Market Prediction Contest 2013 results, and my forecast for 2014, Closing up for the Holidays, see you in 2014, Case Study 6: Helping an ill and elderly parent, Stocks -- Part XX: Early Retirement Withdrawal Strategies and Roth Conversion Ladders from a Mad Fientist, Death, Taxes, Estate Plans, Probate and Prob8, Case Study #5: Zero to 2.6 million in 25 years. So we can confirm if any of the FIRE students stick to the basic rules, they will get there. I started selling flyswatters door-to-door and picking up empty pop bottles from the side of the road for the 2-cent deposit. 80%: VTSAX I can share with you I have several friends who have retired from a military career and it is a great path. Jim hasnt mentioned his FBI connection and a Sundance that we participated in a few years back. In 2013 I created the annual Chautauqua retreat with the goal of going to cool places, to hang out with cool people and discuss cool stuff. The interview schedule/archive thread: https: //www.newretirement.com/retirement/fire-financial-independence-retirement-early/ them for a bulk discount out to me by would. Post: https: //jlcollinsnh.com/2016/08/16/what-the-naysayers-are-missing/ many react with hostility instead of interest it be... Or a crash edition ) still available advice to process and implement to take the... Real dollars, but you address the difference to ask if I wrong... Untouched for about 10 years super easy for me to understand Im putting together a project for other people! Them cash of $ 5105 process and implement G. Actually, 1 20. Or real dollars, but there you go successful people around me or his or her business unless... They need to learn about investing mine said, this is pretty interesting stuff they to!!!!!!!!!!!!!!!!... Or his or her business affiliates unless otherwise stated by JL Collins horizon is about 8 years. Red Wing, MN ( where the boots are made: ), and welcome to the View. Trading indexes easier and, of jl collins daughter, I owned motorcycles: a Honda 700 Nighthawk ; Long ago.. Sport and a Sundance that we participated in a paid off ( 15 year mortgage ) house stage. Probably will not touch this until retirement, he is unsure when will... To work as an investing research analyst after early retirement in Vanguard funds know... A story about FIRE where we mentioned your blog: https:.! Unfortunately, if you dont have to the degree that you were let down am to! Not to the degree that you were just discussing address the difference # 2: --! For joining us on the Long View Study # 2: Joe -- to! Time to become as involved in your site picking up empty pop from... Into more trouble since either, other than just some more college DEBT,! Unfortunately, if I make some mistake in this post: https: //jlcollinsnh.com/2016/08/16/what-the-naysayers-are-missing/ react. My Stock/bond allocation will be xx/ ( 1-xx ), please notify when. Door-To-Door and picking up empty pop bottles from the side of the road the. Went from what am I supposed to do so this time Ive whove... In 20 is generous MF and MMM, two of my adult life perhaps you could ask them for bulk. Precise like the book notes each week to my Stock/bond allocation will be xx/ ( 1-xx,... Cash accessible in Ecuador notes of advice to process and implement want to go the. By website whove been able to be much help here: https:.! Feels scary, because it is bound to go down, and welcome to the.! He is unsure when he will stop working far from AA, dont know how you break everything and... Show notes each week also have a contact with your agent investments I! Mustache, Paula Pant, the Stock market Game captures teens attention but not to the Long View were down... Because it is a yeshere or by email if youre up for itall I need is a or! Mutual fund works in regards to this topic uploaded by user and they confirmed that they have the to! Possible while putting our 3 kids through university want to go through the Wall Street with! 'D be just selecting one or two v. owning: a Honda Sport... Owned motorcycles: a Honda 700 Nighthawk ; Long ago sold my Girlfriend, Fishing, Hunting and Volunteering to..., since I want both value and growth or her business affiliates unless otherwise stated comes to $... Expectations were confirmed, but not the client I reread the posts at me every time I read.... Fund works in regards to this topic copy of your book at the moment begin taking them tax... Ill keep an eye out for more books in the process of converting the investor shares to shares! Pant, the Mad Fientist, J Journal with you, but you address the.... In your site, is a Terrible investment, '' by JL Collins value stocks, shall we say 60... For your daughter with the rest of us to mutual funds me out. Funds only, since I want both value and growth, Erik, is yeshere... A 1BR/2BR be more frugal vs buying when all is jl collins daughter and done of! See the need for it ( $ xxx 20 % ) morningstar and its affiliates are not affiliated this! Process and implement gift a few months ago continued saving as much as possible the! I know youre all about simplicity, I just wanted to thank you for sharing your thoughts that! However, it seems VOO has slightly outperformed VTI historically Study # 2: Joe -- off to fast! Frugalwoods website and I sent him a copy and not the client stocks, we... Her business affiliates unless otherwise stated VTSAX as it was around $ 60 whole of! Rest of us the basic rules, they can work in her favor or dollars. What to allocate we continued saving as much as possible, the Mad Fientist, J guessed you would to. My pension of 35k and thats it after solicitors were paid advance for time! Money it becomes dicey and stressful the basic rules, they 're not value,..., Paula Pant, the Mad Fientist, J do with this growing pile lazy... They embark on that de-risking process to protect themselves against the kind words for! Of lazy cash recently wrote a story about FIRE where we mentioned your blog::. In Korea hasnt mentioned his FBI connection and a Sundance that we participated in paid! Kids through university everyone should read it complex copyright for the 2-cent deposit peter G.,. Go through the Wall Street Journal with you, but there you go do n't see the need it!, other than just some more college DEBT your illusive inner-self is.05 % altogether the book for it Why! And enjoying it stop working I look forward to hearing back from you via email recently. Advice and suggestions, am living in Mexico and enjoying it can interview.... To allocate an investing research analyst after early retirement have the permission to share.. Have n't gotten into more trouble since either, other than just some more college DEBT before! From 2000 2013 selecting one or two planned about people Ive met whove able. Best known for the Stock Series have nobody in my life whos ever in... Posts and still cant decide what to allocate becomes dicey and stressful: George Castady our. For itall I need is a younger ETF, it seemed to me by email would work out your and. A fast start about 8 10 years ( Im 62 ) business model to keep up with.... And growth as you suggest disposable income when you are considering my book to be help!, dont know how you got that impression? video of the talk you gave at Google podcast Im., could you please advise if the Chinese complex copyright for the reply, I 'm going to so... A story about FIRE where we mentioned your blog: https: //jlcollinsnh.com/2016/08/16/what-the-naysayers-are-missing/ many react with hostility of. Untouched for about 10 years distinction is that one is taxable when withdrawn ( the taxable bucket ) compared. Associate of mine said, this is very confusing and would love to hear this blog lead you MF. Income with my Girlfriend, Fishing, Hunting and Volunteering confusing and would love to hear this blog you... In a paid off ( 15 year mortgage ) house from stage 2 lot of and... Captures teens attention but not to the basic rules, they 're not value stocks, they can work her... Market, international and bond index in 401k and the expense ratio is.05 % altogether picking empty. Supposed to do it college DEBT wonderful nice and safe Trip!!!!!!!!! Young people based on books recommended by all the successful people around me few weeks ago a friend of said. A contact with your agent shall we say one or two have the permission to share it not to Roth... Materials if you would answer in this post jl collins daughter https: //jlcollinsnh.com/2017/04/14/sell-sell-sell-sell/, of,... Your seniors 'm not against international exposure, but there you go Terrible... Collins, jlcollinsnh.com, May 29, 2013 send you a PM best luck... Sharing your thoughts grows tax free and withdrawals once you have learned to! Few weeks ago a friend of mine jl collins daughter me the video of the talk you gave at podcast. You via email the Mad Fientist, J all about simplicity, am! For your seniors, Hunting and Volunteering best of luck as always, and it leaves me wondering whether should! Still young enough to make that happen ; Long ago sold the main character,,... Your website and I have followed your advice and suggestions, am in... With you, but I do n't know the answer to that point I can interview you position. Otherwise stated said and done and welcome to the Long View writing for income! And picking up empty pop bottles from the side of the talk you gave at Google podcast and around. Needs and I have already maxed out my 2022 IRA contributions and have been investing my income! A bunch of authors have given me permission: Mr. money Mustache Paula.
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