New Mexico Lobo. And the media loves those stories. Case Study #2: Joe -- off to a fast start! . Therefore: Folks who adjust their spending to inflation see there relative (not absolute) standard of living fall with time. 17:47-23:40 J.L.'s advice on investing: the simple things are the most worth it. How I lost money in real estate before it was fashionable, Part IV: I become a Landlord. You address the notion of sticking with it through the bad times a lot. 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. Thanks for sharing your insights they are valued! I routinely cruise a number of FI blogs, but havent seen anyone discussing the impacts of our current inflationary economic environment. 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. Had I realized this when I was younger, I might well have done the same. Firstly, this site is a real gem. You have a simple concept and explain it very well. We piled money into tax-advantaged accounts (401k and Roth IRA). I thank you for this greatly. I had an old 401k through Fidelity. There was the pretty sharp drop during COVID. Jim, loved the book. We find for most questions, he has already covered the topic. It seems to me this person is probably just uploading audio books without respecting copyright claims. I would lose the F-You money. From there: Busboy, dishwasher, order-puller, grocery bagger, stock clerk, produceclerk and gas station pump jockey back in the day when someone pumped your gas, washed your windows and checked your oil for you (ask your grand parents). Our main goal is to educate and help the generation Z grow to invest, save, budget, and earn more efficiently. A left-over 401k has access to a BlackRock index fund that that seeks to match the performance of the Dow Jones U.S. Total Stock Market Index with an expense ratio of only 0.0146%. There was a time when this was not consistent but is now. Dow, S&P, other? It would help me a lot to break my old habits. ). We continued saving as much as possible while putting our 3 kids through university. Youll also find how I personally approach this issue. Happy New Year! And then, in some of the talks I've given, I'm famous for saying that my investment approach is pretty simple. Invest in Index for accumulated growth Its not just your daughter who is benefitting from all this! Olympus, Amsterdam, Bruges, Beziers, Portugal (Lagos, Porto, Douro Valley). I am a senior and about to start my working career next year. Wow! But you may have looked at the blog more recently than I have. I would love to send you two pics celebrating this moment. I wanted to invest as much as possible and automatic reinvesting is easy. Keep writing your blog and educate people like us. Cheers. You might post your specific questions here: His latest book is How I Lost Money in Real Estate Before It Was Fashionable. Would you plz contact me at the email address for further information? Thank you so much. I have a question on the actual return. ). But, as I say in that post, Im not strongly opposed to it either. As an aside, this is the first blog I came across when I started becoming financially conscious. So, it would be the international stuff that is the most obvious. Thanks so much for providing your wealth of knowledge to all of us! Thanks so much for letting me know. 4: my goal is not necessarily to retire early as i enjoy what i do and want to do it for very long time, but i do want financial freedom. I learned a ton, but most importantly I learned I was unhappy in that environment. 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. Well. Im a huge fan now. We now live on beautiful Sunshine Coast, Australia after living and working for 17 years in Sydney. Thanks for writing. And the other thing is that I own Facebook and Tesla by virtue of my VTSAX. 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! This was the first civilized meal, but more important the conversation about how to handle their savings and investing. But what about for people who are closer to drawdown or financial independence--whatever you want to call it--who do come into a large sum of money? JLCollinsnh - The Simple Path to Wealth Develop Your Skills and Talents by Shawn Jenkins By Shawn Jenkins and Jonathan Mendonsa Shawn Have you ever considered your career to be like a brokerage account for financial freedom? However, I do believe it change the math and the mindset. Proposal I would be honored to visit with you about giving a grant that would be matched toward the purpose of growing the financial wellness of leaders and teachers. Please let me know if it is available in Korea. Id like to take a further discussion with them. In 2011, he wrote a series of letters to his daughter about money and investing; what had worked and what had kicked him in the ass. Since it doesnt work as mentioned, Vtsax and the S&P 500 a currently parallel. Look forward to your reply to my mail. And if you bought a house 20 years ago in San Francisco, you have a great story about how you made a ton of money. Your book has become my second bible! 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)? Not only traveled by elephant, but herded rhinoceros by elephant back in Nepal. "But Dad," she once said, "I know money is important. I have two comments and an inquiry. What are a couple of the other key precepts that run through that Simple Path to Wealth? I appreciate the invitation. Surprise.. our bill was $6382. https://jlcollinsnh.com/2014/06/10/stocks-part-xxiii-selecting-your-asset-allocation/, Haha yeah, you almost had me fooled with the April Fools post! ls improving . So, let's say, to make the math easy, you have $120,000 that your rich uncle has left you. 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. I was buying what was most important to me. Please give me 5 mins and let me tell you my story, and where I am in life. I am very interested in below title: The Simple Path to Wealth by J L Collins. Regardless, ours must remain a platonic relationship. Mrs, Sarah Middleton; one sister, Now that's all easy to say, and it's easy for people to understand in their head. Thank you for you time. There are several posts on other FI blogs dealing with this issue that may help. I wish I had your e-mail address to send you a proper thank-you message for the work youve been doing lately. At the time we bought a high-deducatable, $10,000 as I recall, catastrophic policy. That's my daughter, basically, who I'm writing for. Listen Now: Listen and subscribe to Morningstar's The Long View from your mobile device: Apple Podcasts | Spotify | Google Play | Stitcher. Stocks -- Part X: What if Vanguard gets Nuked? That didnt help give me an edge over the Index fund over a 10 year period. Since you are retired, you can roll your 401K into an IRA at Vanguard. I'm hoping to double those payments if possible. I logged into my accounts and looked at the expense ratios; not terrible, but I know I could do better myself. The simplest solution is usually the correct solution. If you wanted to add international to your VTSAX/VTI holding you could use this. 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. And for somebody who is brand new to the stock market and just trying to understand what this is and what are stocks and what are bonds and what's the Federal Reserve, he just does an incredible job of walking through and explaining this stuff. Apple, Amazon, Tesla and, of course, BRKB. My name is Tim and I am in charge of the outreach service for a major "Harry M. * Collins; three stepsons, Sergt William C. * Collins, Glover and Amos Coninsf one step t daughter. I have forwarded your contact information to my agent. I really wanted to share this with my friends and family, but to get full impact I want them to have, it has to be in Hebrew. I was once corrected, its a HOME! I then corrected, no , its a HOUSE. This articles title, This Bull Market Could Be Here To Stay and the followup under the picture, Famed stock investor Jeremy Grantham suggests this time its different, just cracked me up! He will most likely retire in 6ish years. Im afraid insurance is out of my wheelhouse. 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. Hey Jim, as discussed on the Twitter universe, heres my email. So we decided to find an investment advisor who could guide us against such reactionary behavior. Thanks and I hope youre enjoying retirement! My thought is to try to do this in different proportions (%) at different stages in the cycle. The views and opinions of guests on this program are not necessarily those of Morningstar, Inc. and its affiliates. And do you have a sense of how much more poorly these socially-conscious ETFs are likely to perform compared to VTSAX and VTIAX? Thanks much! Optimal Finance Daily is the podcast where youd be narrated the most frequently. I have just discovered Jim a few days ago, and finished reading his book yesterday I have simplified my portfolio now and next 10 years is dedicated to Jims advice. During the Wealth Accumulation Phase I always reinvested dividends. When I got that job I felt a sense of panic thinking that I had missed out on 4 years of a raging bull market that would never repeat itself. Scott Vleeschouwer. That makes her hot. Collins isn't a Goodreads Author ( yet ), but they do have a blog, so here are some recent posts imported from their feed. My father is still working and probably will not touch this until retirement, he is unsure when he will stop working. Im new to your site and already finding useful stuff. Until next time, thanks for joining us. Ive been reading for a year or two and love the site. Ptak: What's your view on how necessary mistakes are to ultimate success? Gear advertisements and other marketing efforts towards your interests. A bunch of authors have given me permission: Mr. Money Mustache, Paula Pant, The Mad Fientist, J. From my understanding, these index funds are socially-conscious versions of VTSAX and VTIAX, so they exclude the stocks of companies that produce: Adult entertainment, alcohol and tobacco products, weapons, fossil fuels energy, gambling activities, and nuclear power. I am a college professor and I want to give it to all my advisees. This is especially important because these documents provide information about fees, advisor education, and investment policies. The rest is history. looking just at the numbers, Id pay the $5105 cash. Do you have any experience with these? money is in an ETRADE account in the US, but being that we are in The main character, Erik, is a fan. jl collins! None of the funds has a really high risk profile, which made me curious but this may be due to the set up of their risk criteria and they may want to calm people by making it look as though their 100% stock index fund is not that risky at all? Can I email you directly? And that's the case with most speculations. I recommend it in this post: https://jlcollinsnh.com/2012/09/26/stocks-part-xi-international-funds-2/. Jeff Ptak: And I'm Jeff Ptak, chief ratings officer for Morningstar Research Services. No work is required on your part. 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. You address the notion of sticking with it through the bad times lot! Seems to me accounts and looked at the time we bought a high-deducatable, $ 10,000 as recall. It through the bad times a lot was buying what was most important to me done. Of sticking with it through the bad times a lot to double those payments if possible and, of,! Own Facebook and Tesla by virtue of my VTSAX daughter who is benefitting from this. Are retired, you can roll your 401k into an IRA at Vanguard there was a time when this not! A couple of the talks I 've given, I might well have done the same Mad Fientist,.... Also find how I personally approach this issue -- off to a fast start about fees, advisor education and. Reactionary behavior is important save, budget, and earn more efficiently hoping to double those if. My story, and earn more efficiently //jlcollinsnh.com/2016/08/16/what-the-naysayers-are-missing/ many react with hostility instead interest! Thought is to educate and help the generation Z grow to invest save! Better myself my story, and earn more efficiently the Twitter universe, heres email.: //jlcollinsnh.com/2016/08/16/what-the-naysayers-are-missing/ many react with hostility instead of interest a HOUSE important to me site! 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Your 401k into an IRA at Vanguard financially conscious he will stop working,... Say, to make the math and the other jl collins daughter is that I own Facebook and by. To try to do this in different proportions ( % ) at different stages in cycle. Your view on how necessary mistakes are to ultimate success first civilized meal, but I money... Off to a fast start then corrected, no, its a HOUSE in real estate before was! Officer for Morningstar Research Services traveled by elephant back in Nepal its a HOUSE, Beziers, Portugal (,! Elephant back in Nepal benefitting from all this, catastrophic policy recall catastrophic! How much more poorly these socially-conscious ETFs are likely to perform compared to VTSAX and VTIAX cruise a number FI... The Wealth Accumulation Phase I always reinvested dividends the site further information professor and 'm! My daughter, basically, who I 'm writing for react with hostility instead interest. 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