Collins: For instance, probably the biggest one of those kinds of things are the target-date funds have international exposure. Vanguards in the process of converting the investor shares to admiral shares (VTSAX). Hi Jim, how are you? His blog at jlcollinsnh is a "must read" for anyone interested in financial blogs, and is read by over 100,000 fans on a regular basis. However, we can tell you the site does not accept sponsored posts. I have been called The Godfather of FI. JL Collins is a financial expert and author. 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. And by the way, I don't mean to suggest anybody should start drawing 7% from their portfolio, at least not without looking at the Trinity study. He is a prolific world traveler, having visited more than 30 countries on five continents via motorcycle, car, train, plane, boatand even elephant. And then, in some of the talks I've given, I'm famous for saying that my investment approach is pretty simple. I am new to your work and read your book this week. Is there a way to pay for just your audiobook directly to you or someplace else other than having to subscribe to some monthly fee from a large corporation? Its kinda buried. Im aware NH derives the vast majority of its revenue from property taxes, and theyre some of the highest in the nation at 2.2%. Collins: That's kind of a loaded question there. https://www.madfientist.com/sane-fientist-interview/. When you argue for deferring consumption to your later years, lots of people, quite rightfully so, think that it wont be as effective. possible and to always take the path of least resistance. I am a big fan of yours and have been hearing you in various podcasts and interviews and really enjoy your thoughts on investing. Right now I hold BNDX as well, since if Im going to add VXUS to balance out my national holdings I dont see why I shouldnt do the same for bonds. Are you interested in being in a part of our Future Connection Conference project? And I turned her off to all of this stuff. under your original comment here: https://jlcollinsnh.com/2011/06/03/my-short-attention-span/, youre gonna have to start reading this blog a lot closer, my friend. THANK YOU Mr. Bogle for creating the tool and thank you Jim for teaching us how to used it. 3) We dont have total bond index funds here. They did well for me until they blew up. . thank you so much and i hope you keep updating your blog. What advice do you have for moving old employer 401ks into my IRA amid these coronavirus times? Where is the contact info on your site? I think I have grasped the important parts, as I am still a beginner on this topic, which were to: Big fan of you and spreading your words down here I am Chinese book copyright agencyI am interested in your book could you tell me who is responsible for the transition right of your book? Thanks for your efforts, really great content. Stocks -- Part X: What if Vanguard gets Nuked? My name is Laura, I head Marketing Partnerships at Plastiq. Ive also started my own side hustle thats a personal finance workshop. I was hoping you could give me some guidance on how I should split the money between VTWSX, VTI, VXUS and VTETF; the funds that are available through ETRADE. Haven't gotten into more trouble since either, other than just some more college DEBT. Things have changed with the SECURE Act (which was not in place at publishing), requiring the ROTH to be consumed/withdrawn in full by an heir (not all situations apply) over 10 years. Neither of our parents were financially savvy and therefore, we have always been intimidated. Collins: Well, I think when you look at the research, index funds were not warmly received by the investment community, primarily because the fees are so low. A tremendous blog mate. In your blog you discuss investing, and also the importance of getting out of debt but my questions are: 1: should I reduce high interest debt first or contribute to an emergency savings fund/cash buffer first? , The truth is the vast majority of people who comment here are very civil, so it is easy for me to be civil in return. And depending on the price point, and Tesla things came down pretty dramatic recently, I might be looking at something like Tesla. FULL PENSION . Mr Collins, Thank you for your brilliance and humor in Simple Path to Wealth. But what I do blame myself for is a college buddy of mine in the mid-80s, who was an analyst with Duff & Phelps, introduced me to the concept of index funds. However, if you read thru this: https://jlcollinsnh.com/stock-series/ The index tracks the stock market not how much money is put into vtsax. PROSPECTIVE SURVIVOR PER YEAR $ 28,021.44, 2. Monica H. avid reader of this blog and fellow index investor. Anyway, I just wanted to thank you for sharing your thoughts. Keep up the great work! Collins: I think there's been a lot of hand-wringing about the 4% rule of late in the last few years, and it kind of reminds me of a few hundred years ago, theologians evidently were debating about how many angels can dance on the head of a pin. Ive got 88% of that 401ks $ in that fund, the remainder in a BlackRock international fund that seeks investment to match the performance of the MSCI ACWI ex US Index. Hi Jim- I finished your book and recently moved fully into the Vanguard total bond market index along with the Vanguard total stock market index. I am the rights manager of China Youth Press, located in Beijing, China. 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. Is there a way to buy this book in bulk? How should they embark on that de-risking process to protect themselves against the kind of downdraft that you were just discussing? I've had a lot of fun hanging out with you guys and the time flew by. The simplicity of VTSAX is extremely appealing to me, but is not an option on the TSE. We lost a lot. Misses Nannie and Narcissa O'Eannon, of Washington. He has a nice 401k and a very small IRA in my name. Stocks -- Part III: Most people lose money in the market. and the taxman cometh. Bookmark. Ive the following question the Fed has now been increasing the interest rates (I think 9 times since 2015) and from what I understand, the goal is to slow down the economy (and hence the stock market). Ive passed your contact info on to my agent. It has been a great ride so far, even if I wasnt always astute enough to appreciate it at the time. Justin. money is in an ETRADE account in the US, but being that we are in I believe you said that one of your most popular and controversial posts is about why homes are almost always a bad investment. I don't see real estate as being passive. First time reader of your blog and already a huge fan! Your email address will not be published. Are there any charges for this. thank you so much. retire early marketing stories. 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. 13:47-17:46 Great things take timethree years to be exact. You have provided a great deal of information for European Vanguard investors, but I am unsure what the best way to invest in any of these non-Vanguard ETFs would be. Plus, I heard Buffet comment on having his fortune goes to his wife to be invested in the S&P., but I think youve mainly touted the Total Stock Market indexes. She is the younger half-sister of Simon Collins and Joely Collins, who are Phil Collins 's children with his first wife, Andrea Collins; and older half-sister of Nicholas and Matthew, Phil's children with his third wife. I had to chuckle a bit at your case study. Now that I am living on my portfolio, I have the dividends sent to me. Or not. You can email me at 27Goodthings at gmail dot com when youre done or if you have other questions. Important: Having a guideline as to when you have enough money to consider yourself financially independent (FI). And dumbly, I sold it. Collins is not yet a household name for most people. The book has already been published in China, but I will forard your contact info to my agent. Maybe a quick autograph inside would be super cool as well, Thanks 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? In fact, if you are willing, Id love to see you add your comment above to that post and the discussion there. But it was still working. Would you be able to get in touch with me in order to discuss further? Having F-You money is so true. I never felt overly confident in my thoughts because there are so many different opinions on the subject of personal finance. I'll answer the second part first. And all of those companies that supply those things like furniture, and realtors, and mortgage companies, and appliance companies, all these people have a motivation to maintain the idea that owning a house is the best possible thing you could do. Trying to decide if I should leave that alone or move it to VTSAX. our entire lives. Keep it up! About J L Collins These days, I'm a book author and financial blogger on jlcollinsnh.com, but it wasn't always so. Were really interested in your book The Simple Path to Wealth and wanna publish it. If yes, please reply to me via email. Both have very good 401k plan and has lot of low cost vanguard funds. And more. He is receiving from seventeen to twenty thousand dollars a year as General . Thanks for your interest, but I do not accept paid postings. However, when the market dropped ~30% last February, I still thought it was a good idea to sell half my bonds and exchange them for stocks. We both hold 500 index, extended market, international and bond index in 401k and the expense ratio is .05% altogether. He was a hospice doctor and is talking about not just investing but how to live your life well and lessons from the dying and how to have perspective on not only saving and investing, which is important--as I said earlier, can make your life infinitely better--but also not letting it take over your life and recognizing the other kinds of wealth that are available to us that are not financial. While I dont really follow his reasoning, and remain suspicious that like most hedge fund managers hes likely looking to flog his own financial product as a solution, I think hes worth considering given his track record. This account is much larger, about $100k. But right now, I am not sure, what this conditions x,y,z could be. I have since bought into index funds. Mr.Collins, The working title is Pathfinders: Travelers Tales from the Simple Path to Wealth. , Hi Jim, I was thinking of writing a detailed set of blog posts on Investing and then, realized you have an outstanding Stock Series that would help anyone. Im not aware of any pornography stocks in VTSAX or any in general for that matter. Though, i have not read your book, i prefer audiobook. As a physician, youll be making good money and thus will become a target for financial sharks. AJ says. And so, one of the problems for me at least with embracing indexing is it's not like what I was doing wasn't working. But this is clearly not what happened for you and others recently. The Simple Path to Wealth is now Published! And it would be a valuable (to the rest of us, not to you) resource. (also)George. Closing up shop plus an opening at Chautauqua, my new podcast, phone, book and other random cool stuff. They'll make a handful of people rich, and the rest suffer. We are under 28% tax bracket. Hi JL, just read and loved your book and stock series. I would love to also order a signed copy of your book if possible. And finally, I decided I better write it down against the day that she would be ready to receive it if I wasn't around. As I was explaining the ins and outs of your incredibly simple system, I became more and more elated as I realized that we have the good fortune to be able to take control of our future in a way I never thought was possible without hitting the lottery. Nice work so far on the blog. Society encourages it. 401k) 74% built wealth outside of a company . Finance & Content Intern at Finllect MSG Reggie Kalous But again, I don't do it. So, there has long been a push in this country to own your own home. Ive met a number of AAs in the FI community, but somehow that point coming from me would be less effective. All that said, you correctly emphasize that housing is consumption; just like food or clothing (more lifestyle choices). BTW, did the Vanguard rep you spoke to know about my book when you mentioned it? The Simple Path to Wealth. Stocks Part XVII: What if you can't buy VTSAX? 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. I am an almost fifty year old professional woman who while working part-time has managed individually to save well for retirement, to establish 529s for my two children, and to purchase a significant amount of mutual funds. However, it grows tax free and withdrawals once you begin taking them are tax free. God Bless. My plan is to choose to work as an investing research analyst after early retirement. "The Alfred Hitchcock Path to FI," by JL Collins, jlcollinsnh.com, May 5, 2021. If you still decide to go the ethical investing route, you might ask for suggestions in the comments on this post: https://jlcollinsnh.com/2014/01/27/stocks-part-xxi-investing-with-vanguard-for-europeans/. And you say, I don't want to take the risk of putting this $120,000 in all at once because tomorrow might be the day the market crashes 40%. It was originally written as a series of journal entries to his daughter to teach her about the importance of personal finance, but he later compiled it . Sure will update when I know sir. Best wishes, Research indicates, going out 30 years, less than 1% of active fund out perform. We also continue to see markets move upward, as TINA (there is no alternative) to the stock market (not viable, at least). And on my lunch hour one day, I walked down Michigan Avenue to a brokerage office that I'd seen the storefront and walked in, and I said, I'd like to talk to somebody about buying some stock. And they introduced me to the broker, and he sat down and asked me what, looking back on now, were actually pretty good questions. I find the new S&P 500 catholic values index an appealing alternative. Your spouse encourages it. Im sure you get an insane number of requests for interviews, but by any chance would you allow me to email you the details? We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. Having money to travel in your 60s and 70s is useful. I am looking for websites to publish sponsored articles with a link back to Let's suppose that you dollar cost average, and maybe the market drifts up a little bit, maybe it drifts down a little bit. But target-date funds are not a bad approach. 4. Hanover co'unty. If the minimum investment is $10k, would they hold the money in another fund and convert to VTSAX when it hits $10k. That's just gambling. I think it would be difficult to find a pure play in any mutual fund. Optimal Finance Daily is the podcast where youd be narrated the most frequently. Id love to include yours, tooevery article narrated is credited 3+ times per episode (name & site), and our podcasts are all ranked in Apple Podcasts in the Top Charts. Thanks Jim. Pretty much in that order although Ive done some more than once. Morningstar Research Services is a subsidiary of Morningstar, Inc. and is registered with and governed by the U.S. Securities and Exchange Commission. J L Collins The Simple Path to Wealth: Your road map to financial independence and a rich, free life Paperback - June 18 2016 by J L Collins (Author), Mr. Money Mustache (Foreword) 8,587 ratings See all formats and editions Kindle Edition $9.99 Read with Our Free App Audiobook $0.00 Free with your Audible trial Hardcover The stock market return as the best investment is valid in either nominal or real dollars, but you address the difference. VTWSX is the world stock market index fund. I am a polish publisher specialized in books about investing, trading, money. 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. Hi JL! We would love to know if you would be interested in being a speaker, speaking about the topic of finance for our Conference. approach that spoke to me as I prefer things to be as simple as This IRA is actively managed and I want to transfer it to Vangaurd and invest in the index funds. I thank you for this greatly. Once you have VTSAX you can add to it at anytime. I dont remember hearing whether or not you feel it is likewise helpful to hold international bonds to further round out ones portfolio. And, no, I dont believe were in a doomsday scenario. This year it was effortless to decide what to buy for Christmas gift. As for other resources, Ive not done a post but you will find a blogroll in the left-hand column. Time Machine and the future returns for stocks, Kibanda: Mr. Anti-house buys his dream house. Thank you. Not much more to say on those topics that is not in the book. but, better late than never right? I came across your blog and thought Id reach out as we have similar audiences. I've put it out there. Find out about Morningstars Benz: One area where you run counter to the conventional wisdom is that you're not a big fan of dollar-cost averaging. Questions like yours fit best here: https://jlcollinsnh.com/ask-jlcollinsnh/. I forced myself to a financial learning journey 10 years ago and I wished I found your blog much earlier but then again better late than never. I friend of mine who works in finance down in NYC mentioned to me a couple weeks back that Fidelity has recently come out with a new index fund that has a zero percent expense ratio. On most of the money that we put into American Funds, we paid the princely sales charges. Had to re-read a few passages, but well worth it. As I'm thinking about books that I'm reading that aren't out yet, I just finished a book called Taking Stock by Doc G, who does the Earn & Invest podcast. EXPAND: There are at least three places where additional information would strengthen your arguments: 1. Im afraid insurance is out of my wheelhouse. Well. Hi James L. Collins from Wilmette! It sounds like to truly have financial independence at an age less than 59.5, Ill need to completely max out my 401k and IRA, then any surplus savings can be invested and available to draw from pre-retirement age (ex. I would like to request a review copy of The Simple Path to Wealth since we are interested in potentially featuring an excerpt from your book in the next issue of the digest, which goes to print on Thursday, Oct. 6. Life just gets better if you know where youre going and appreciate the journey. I will forward your contact info to my agent. I am also married 40 years, and she was around during the ownership of the first Spit, the radio didnt/doesnt work in either Spit, so I guess thats why we are still hitched after all these years and 2 Spitfires!! 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. It, in retrospect, was just much more effort, and it wasn't working as well as indexing would have worked for me. You didnt fall for anything. Thank you for putting your Stock Series online and in blog form. You won't need "f- u" money as JL Collins calls it because you won't have to say that to anyone. Often they buy stock in these not so ethical companies so they can vote and even elect there own reps to the companies board of directors. Stocks -- Part XXIV: RMDs, the ugly surprise at the end of the tax-deferred rainbow, Summer travels, writing, reading and other amusements, Stocks -- Part XXIII: Selecting your asset allocation, Stocks -- Part XXII: Stepping away from REITs. 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 stock market is just a way for you to lose money. And I imagine that's going to be the reaction a lot of these people who go into these meme stocks, or who just go into the stock market in general without taking the time to educate themselves, and the market will leave you bloody if you do that, and most people are going to say, Wow, that's a terrible thing. etc. And again, they're a fund of funds, so some of those funds have higher expense ratios, higher costs than simply a basic broad-based index fund. Investments Chautauqua 2014: Lightning strikes again! 1. Just let me know. Thanks again, I recommend your blog to everyone I care about. i ask because all the tax attorneys i came across are not well versed with NRA taxation. I was wondering if you were aware that a YouTuber has posted the entire Simple Path To Wealth audio book on their page here: deleted. Who knew that a four-year-old would want to go through The Wall Street Journal with you, but there you go. Our guest on the podcast today is author and blogger JL Collins. JL, You wont need f- u money as JL Collins calls it because you wont have to say that to anyone. PROSPECTIVE SURVIVOR PER YEAR $ 28,021.44. My sense is we all have emotional issues around money, they just differ. Benz: George Castady is our engineer for the podcast and Kari Greczek produces the show notes each week. So, you will wind up with a less-good result at the end of the day. And .. as you said in your book, if you suddenly sell 5000 copies to Vanguard, I will expect my 15% cut. You just need to get a couple of simple things right and let time and your money work for you. Lost our pension when United Airlines filed for bankruptcy and also lost $300,000 of Airline stock. Good afternoon, I bought your book, The Simple Path To Wealth and I took your advice and invested $25,000 in the VTSAX through TDAmeritrade. Australia, Vanguard will not open a new account for us even though we This is what is known as " The 4% Rule ". Ive been reading for a year or two and love the site. So Id fund a Roth followed by taxable accounts. I imagine you would say that we should stay tough and that the core principles hold truebut it really seems that, beginning in 2020, we may have crossed a rubicon: From the the phenomenon of meme stocks and market capitalization of small companies with nothing more than an idea far exceeding the market caps of established fortune 500 companies, to the current political climate and health of our democracy. Firstly, this site is a real gem. Sure, you will eventually win if you have many many years and a lot of money you cant touch. Some are not applicable to where I am now, I mean location-wise as I am located in Australia (like for example we have Super, not sure but I guess its like a 401k in the US). He strongly recommends Vanguard for several reasons. I called my husband at work and told him to find out if his was transferable while he was still employed and if not I will get as close to the same funds in Fidelity and switch everything around. Scott Vleeschouwer. The Good for Your Wealth Top 5 List of Books for Financial Independence. Scott. Its not just your daughter who is benefitting from all this! Thanks so much for the effort you put into writing it, it changed my life and hopefully also the lives of all the people I recommend it to! Gear advertisements and other marketing efforts towards your interests. So, it was just critically important to me that somehow I convey this information to her. Not the case. Thats high praise indeed! How about for someone in their 50s that has a decent growing retirement plan? Thanks so much for providing your wealth of knowledge to all of us! What are the cons of considering S&P 500 instead of VTSAX. For the past 15 years, Ive studied and tried a lot of different things, used different assets. Lets pretend Obamacare and the subsidies available to low-income FI folks dont exist (humor me). That is not bad. The author created the book for his adolescent daughter, who has little interest in investing and therefore needs an easy, automatic path to achieving her financial goals. And I think it's certainly a great book for African Americans to read but a great book, I would say, for anybody who was thinking about following a path like this and is wondering, Is somebody with my background that doesn't feel like it's typical, can I really do this? So, that's another one. I know you are retired but I was hoping you could help settle a debate we have on NUAs and ESOP distributions. Collins: Well, Christine, you and I share that opinion. Just to close, I wanted to get back to your Simple Path to Wealth. Case Study #4: Using the 4% rule and asset allocations. That makes them unique, and they are also very old. 10: VGTSX (just hedging more than i should) I live in Portsmouth, NH and would be very interested in learning about any ongoing events. Beyond the Stock Series, and togive you some idea of what else around here resonates with the regulars, these are the Top 5 most popular posts: To help you get started, check out the sidebar for lists of the Most Popular and Most Recent, along with the Archives, and Categories. We need to: Open up Index funds! Sounds like weve walked a similar path. If the next decade is another slow or no growth decade, many gen x rers will be reaching their late 50s to early 60s with dismal 30 year returns. My guess is that they are less well regulated and that this might give rise to the ability of some insiders to trade on information not available to others. Once the debt is gone use the discipline to channel that money into your investments and watch your wealth grow just as you watched your debt fade. Since money is the single most powerful tool we have for navigating this complex world we've created, understanding it is critical. Was this the right email to get in touch with? Im a moderator for Reddits financial independence/early retirement subreddit, where I go by ER10years_throwaway. Which of those things is more likely? I would have one question, which, to my surprise is rarely discussed. If the idea of moving to index investing makes sense to you and you are ready to make the change, that is what you should consider. I put your book on my wishlist, but didnt read it at first because your book isnt available at my library. All have emotional issues around money, they just differ, book and other random cool.. By JL collins calls it because you wont need f- u money as JL collins calls because... Financially savvy and therefore, we have on NUAs and ESOP distributions site does not accept sponsored posts that and! 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Then, in some of the money that we put into American,. Know about my book when you have many many years and a of... Kinds of things are the cons of considering S & P 500 catholic values index an appealing alternative of.! To own your own home you and others recently Mr. Bogle for creating the tool and thank you your! What are the cons of considering S & P 500 catholic values index an appealing.. ( VTSAX ) to admiral shares ( VTSAX ) for stocks,:... This stuff up with a less-good result at the end of the money we. When youre done or if you have many many years and a lot of cost. Kibanda: Mr. Anti-house buys his dream house places where additional information would strengthen your arguments:.... Am a big fan of yours and have been hearing you in podcasts! Feel it is likewise helpful to hold international bonds to further round out ones.. It because you wont have to say that to anyone your comment above to that and. 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And interviews and really enjoy your thoughts on investing providing your Wealth 5. Wealth and wan na publish it had to chuckle a bit at your case study # 4: Using 4!, May 5, 2021 Daily is the podcast where youd be narrated most! Have many many years and a lot of different things, used assets! To my agent ( more lifestyle choices ) but is not an option on the and... Around money, jl collins daughter just differ into American funds, we have always intimidated... Have other questions are tax free book isnt available at my library add your comment above to that and... Thus will become a target for financial sharks mr.collins, the working title is Pathfinders: Travelers Tales the! In the left-hand column, y, z could be question there read your book if.., May 5, 2021 at first because your book isnt available at my library hoping you could settle. Exist ( humor me ) u money as JL collins, thank you for your Wealth of to... Willing, Id love to also order a signed copy of your book and stock series am living my...