Im not optimistic for the future. A Dow Jones index could suffice as it involves no tobacco or alcohol companies? And in that case, as you correctly say, I am not a fan. Lots of time left for disaster to strike. It has grown into an international readership and has become one of the most highly respected blogs in the world of Financial Independence. Thank you so much for writing this book. So, my main thought was watching this is theres going to be a lot of tears for a lot of people. Is there a way to buy this book in bulk? So your $500 will immediately buy $500 worth of shares each time you invest it. SoThanks! A fortune! Vicki comes to Chautauqua: United Kingdom, Chautauqua - Ecuador 2017 open for reservations, Stocks -- Part XXX: jlcollinsnh vs. Vanguard, Reviews of The Simple Path to Wealth; gone for summer. In a simple, engaging way, Collins shares the basic wisdom you need to make your money work for you, not against you. I have dialogue between Erik and Moe, but Im a bit terrified of posting it public. 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. This feels scary, because it is bound to go down, and it leaves me wondering whether I should sell now. Anyway, I just wanted to thank you for sharing your thoughts. Like you, I wish Id had my book then. Thanks for the very kind words, and for passing my book on. Unfortunately, we didnt have the benefit of your guidance before starting to save. Low cost broad based index funds is the best solution compared to picking any select sector of stocks. Glad to hear it resonated with some of your friends and hopefully they will pass it, and the message, along to theirs. 2. Luckily, I am mechanically inclined and like hobbies, so I have a ready-made excuse when I am experiencing any Spitfire downtime. Waiting and hoping my asset allocation and withdrawal strategy are strong enough to withstand the worst of the storms ahead. Just wanted to let you know, I included The Simple Path to Wealth in my newsletter last week as one of my favorite finds of 2020: https://mailchi.mp/2fc5cbd47559/queen-of-valley-city-recorded-in-quarantine-out-now-records-masks-and-more, I know what youre thinking, a book about investing? We are very appreciated if you can help us to get this information. 13:47-17:46 Great things take timethree years to be exact. Hanging on allowed me to retire in 2013 and Ive never been happier. That didnt help give me an edge over the Index fund over a 10 year period. Its not just your daughter who is benefitting from all this! What are your recommendations on a particular ETF which only tracks the S&P 500 instead of the whole market (VFV)? 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. His latest book is How I Lost Money in Real Estate Before It Was Fashionable. So, I don't know the answer. 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. 2) Does VSTAX somehow lead to investments in pornography? The Simple Path to Wealth. 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. Id love to get your input. Another one, that also I see as a great bookend to my own, is a fairly new one by Brian Feroldi called Why Does the Stock Market Go Up? I'm not predicting either of those things to be clear, just as an example. Hi, Jim. and the taxman cometh. but remind me never to play pool with you for $$. Only Sundance participant that I know of to dress in a white, buttoned down, dress shirt. Here, we have a category of investors that are clearly making mistakes and speculating in these junky stocks. You should have 708321 using vtsax and 682679 using s&p 500 index fund . That makes her hot. We also continue to see markets move upward, as TINA (there is no alternative) to the stock market (not viable, at least). You might read thru the Stock Series and try the Search function here on the blog to pick up some more. My wife and I, along with our 3 children started on a journey 7 years ago through a happenstance of fate to simplify and live more intentionally. Funny too,how something that used to be easy freewheeling fun,turns into a pressure filled job,when you do it to put food on the table.My game went to shit,losing to people I should have schooled,and I was lucky most nights to get away with just paying my bar tab. But here's the kicker. . And this may be a warning to others, life is always unexpected and doesnt always turn out how you hope. And from an investor's point of view, the world is a far better place for virtue of what Jack Bogle has done. Stocks -- Part VIII-b: Should you avoid your company's 401k? A suggestion, though: date your posts so its clear when they were written and thus their relevance to current market conditions, for example. . possible and to always take the path of least resistance. I am frustrated that the large brokerage firm makes it almost impossible to easily monitor my performance. As they say, when the student is ready, the teacher appears, One article I came across today reinforces exactly what you said: JL Collins has been an investor since 1975. Thanks for all your content! Wed love to work together. ETFs were created to make trading indexes easier and, of course, I am opposed to trading. Thanks, And one of the obstacles, by the way, is I actually achieved financial independence picking stocks, and by extension picking mutual funds that were actively managed by stock-pickers. jl collins! With that being said, should I own some precious metals to hedge? VXUS is an international fund, without the US market. Not that I deserve it. We would love to know if you would be interested in being a speaker, speaking about the topic of finance for our Conference. Thanks, too, for your take on my homeownership views. Benz: What was your career path prior to you becoming a financial blogger? I could not have said it better myself Stocks -- Part IX: Why I don't like investment advisors. 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. . Pay special attention to this one: https://jlcollinsnh.com/2012/05/12/stocks-part-vi-portfolio-ideas-to-build-and-keep-your-wealth/, If you still have questions after reading those, come April please ask in https://jlcollinsnh.com/ask-jlcollinsnh/. In seeing your post above about wanting to have these on the thread for all readers to benefit from so if there are any 18 year olds reading this right now, read Simple Path to Wealth and DO IT, your 28 year old self will be proud you did. Thanks and I hope youre enjoying retirement! You can email me at 27Goodthings at gmail dot com when youre done or if you have other questions. But still . No sense in reinvesting only to withdraw. Or Prague by itself. Do you have any experience with these? It is a very personal call. A Guided Meditation for When the Stock Market Is Dropping, 7 Days in Heaven: or Why Slowing Down Will Get You There Sooner, Chautauqua 2019 - UK & Portugal - Tickets Now Available, Car Talk: An update on Steve and looking at Leafs. StocksPart XIII: The 4% Rule, Withdrawal Rates and How Much Can I Spend Anyway?" When I married my wife 4 years ago, she had an incredible amount of high-interest debt from years of bad money-management and putting degrees on credit cards. This is what is known as " The 4% Rule ". but I am afraid Im not going to be able to be much help. Your insights are invaluable and Ive proudly shared the link with colleagues. PDF. Read those, and then decide for yourself. I want to save well, support a company with integrity, and then leave it alone until retirement. But target-date funds are not a bad approach. I know that these questions (except the first) are very specific to our markets. Jim hasnt mentioned his FBI connection and a Sundance that we participated in a few years back. 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. Sounds like weve walked a similar path. And those are the three keys. I'm not going to go near that again. So, I think that's probably the reaction. You nailed it! Jim you called and I was traveling. When you inherit a some of money like $100,000, how should one invest it? or even to respond to the other question: Best of luck as always, and hope you find your illusive inner-self. I am working on my emergency fund, I have about $10k in cash now in an HYSA. Maybe a quick autograph inside would be super cool as well, Thanks We want to edit this a little and then try to get some traditional PR around it. Mail clerk, ground man for a tree crew, landscaper, ad agency founder, account executive, ad space salesman,investment officer, entrepreneur, consultant, sales trainer, speaker, writer, radio talk show host, publisher and group publisher. 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. Since it doesnt work as mentioned, Vtsax and the S&P 500 a currently parallel. Hello. 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. I Just started listening to your book The Simple Path to Wealth. Hello Jim Im been reading your posts for a long time and using your advice to investing. I dont want money ou attention, just spread the info in my country. Would buying these 3 bonds, long and short-term, a good proxy for a total bond index? There was a time when this was not consistent but is now. Would also like to explore how we can license some of your contents on this blog. InvestED, hosted by hedge fund manager and New York Times best-selling author Phil Town and his daughter Danielle, is the perfect stock market education for beginners. Also, Ive decided its the perfect graduation present for anyone in my life. Pretty much in that order although Ive visited several more than once. Thanks in advance for any insights. There are going to be a few people who are going to make a lot of money, which is always the case with speculation. We met at the FinCon13 opening party happy hour and I said Id have to stop by and check out your blog! The main character, Erik, is a fan. You are young, debt free and love to save: A great base from which to build. we decided NO WAY! . I am sure I am going to go with vanguard. 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