His advice to her not only evolved into that book, but he also keeps a blog and runs workshops and seminars. This is an interesting question. You talk about the different type of retirement accounts and I havent seen an article about the 457 plan. Continuing to invest from your earned income while building your wealth. Olympus, Amsterdam, Bruges, Beziers, Portugal (Lagos, Porto, Douro Valley). Insurance is a subject, for instance, that makes my eyes glaze over. An easy read. In many posts you disavow market timing, and buying stocks on sale seems on first sight to be a form of market timing. And maybe if you bought a house today in San Francisco, 20 years from now, for some reason San Francisco declines and becomes the next Detroit. 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. He is receiving from seventeen to twenty thousand dollars a year as General . Its now at $81.00. I recently listed to your newest podcast on ChooseFi and I had some thoughts about the bond section. Let me first give me background. JL But now I feel like such a fool. Hi JL, just read and loved your book and stock series. So, it's less of a slam dunk from that point of view. Thanks from here in New Zealand. Looking to do a 60 equity to 30 bond to 10 REIT mix. How I lost money in real estate before it was fashionable, Part II: The Limits of the Law. And one of the reasons is that I look at it, and I say, well, if I were going to buy an individual stock, that I'm not going to put more than 5% of my net worth in it. Now I am off to read more of your musings.. Other than most of it is informative Only MOST of it??!! #1 Simple Path to Wealth by JL Collins. Money means very little in its own right, it just gives choices in life. I have attempted to research this well, but I cannot determine if my current investments should be transferred in kind to a Vanguard rep and then gradually divested and reinvested into index funds. Im a moderator for Reddits financial independence/early retirement subreddit, where I go by ER10years_throwaway. 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? I and my husband are working, 35 and 40 respectively. Could you pls share your thoughts? This fund invests 60% in stocks and 40% in bonds. Please advise. I'm just going to continue to put myself on blast here to initiate my own public case study on myself. It was breathtaking to say the least. Isnt it University of Illinois Urbana-Champaign, not Champaign-Urbana? The main character, Erik, is a fan. JL Collins: Thank you. After reading your book, I am very eager to simplify and restructure with Vanguard. https://www.madfientist.com/sane-fientist-interview/. Im glad you found your way here and it resonates with you. I read somewhere that overtime, this outperformance may fade away. Our Thanks for the kind words and interest, Justin! Jim, I have a logo design for you. With that in mind. Wow! Hello Jim, Im sending you a big hug from Brasil. I came across your blog and thought Id reach out as we have similar audiences. I will also read the topics you have mentioned. As with all negotiations you want to be friendly. ETFs were created to make trading indexes easier and, of course, I am opposed to trading. So, those are just some. 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. Thanks for passing my writings on to your sons. Meanwhile with each dollar you put toward the debt the lower your interest rate burden. 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! Finally, we'd love to get your feedback. ). During the Wealth Accumulation Phase I always reinvested dividends. For instance, when you have children and that sort of thing. 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. And how did you find your way to the minimalist investing path that you embrace today? Youre book was exactly what I needed to hear to re-spark my motivation towards FI. Hope this email finds you well. The value of disposable income when you are still young enough to use it should also be addressed. The investing world for the average investor is far, far, far better because of Jack Bogle and what he did. If the Japanese rights are still available, could you please send us a pdf for their review? Departed this * life on Monday. Download. If your time ever allows, Id love to have a cup of coffee over a video call to thank you, and ask a few questions to help me over the final hurdle as I summon the courage to step away from a career that pays well, but leaves me numb inside. J L Collins The Simple Path to Wealth: Your road map to financial independence and a rich, free life Paperback - 18 Jun. As I get older, I am quickly coming closer to the age where having a basket of fixed assets will make a lot of sense versus 100% stocks. I have studied the different teachings from different personal finance personalities and while most of their teachings are very sound when it comes to investing they become vague as to what funds they are personally invested in. And as such you have a bond fund that is down 15%, when if you had still owned a treasury from last year directly, you would have a 2% gain. 4:21-6:09 The philosophy of financial independence. How I learned to stop worrying about the Fiscal Cliff and you can too. Loved your book and took your advice but then made a crucial error that Id love your view on: I had all my retirement money (over 1 million) in VTI. Ill answer them as best I can and maybe it will turn into a Case Study post! . If you are interested in this idea we would love to know a by January 23, 2109. And those are the three keys. Am I being too aggressive? If I retire at 60 from my present job this is the result. And if somebody sat down and made up a list of all the potential mistakes you could make buying real estate, it's like I went through that list and checked them all off before I signed the papers. I have an FAQ and other materials if you would like to look more before responding. And in that case, as you correctly say, I am not a fan. And then compared Vtsax chart to the S&P 500 the charts would look totally different. Great to hear this blog lead you to MF and MMM, two of my personal favorites. Thank you for the beautiful simplicity in your work, and for empowering so many people beyond your daughter. 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. Publisher: CreateSpace Independent Publishing Platform; 1 edition (June 18, 2016) So, not only does she not have to worry about those market drops, they can work in her favor. Im reaching out because we think you would be a great Partner for us. Is the market more likely to go up over this year, I'm going to do it? (https://calendly.com/na-tawakkol/15min) 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. Its not just your daughter who is benefitting from all this! They have always been and will continue to be parallel. But anyway, so I've experienced both. Many thanks! A percent of your net worth, the minimum starting at 70%. I just wanted to say that Im a big fan of yours and your book should be taught in schools instead of shakespeare Thanks for writing and for the article. Do you have any suggestions in our case. But that could come when you're 30, if you've achieved financial independence, as many people do, and you say, OK, I'm going to not work anymore for a while. Then you probably want to add some bonds to take the place of the cash flow that you used to have to smooth the ride. My degree in English Literature is from the University of Illinois at Champaign-Urbana. There is still a $3000 initial investment, but a 0.04% expense ratio. My sense is we all have emotional issues around money, they just differ. That said, please feel free to ping me when you have something you think would be of particular interest. 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. Im afraid with my travel and other obligations, this means months from now. And I'm not against international exposure, but I don't see the need for it. No one had taught her how to approach money. And the emotional/financial forces drive you to buying too much house. Maybe the answer is: There is some effect, but because of conditions x, y, z this effect is small or not relevant to a normal life. Something to add if you ever do a new edition of the book is to point out that your (home) currency is not a reliable arbiter of wealth. So, I think 4% is a pretty reasonable and fairly conservative number. Sure will update when I know sir. Hi James L. Collins from Wilmette! I put a hold on this until I could review the tax implications. One option would be to pay the bill off monthly. . Blessings for your continued work and impact. Collins: But I do agree with that. I was introduced to your blogs through Frugalwoods website and I have enjoyed reading all your info. Anyhow, do you think its OK to borrow for school tuition as its an investment and I dont want to cash in my investments. Debt between 3% and 5%: Use your best judgment to determine when and . 13:47-17:46 Great things take timethree years to be exact. There was the pretty sharp drop during COVID. https://jlcollinsnh.com/2018/06/28/stocks-part-xxxiv-how-to-unload-your-unwanted-stocks-and-funds/#comment-4220324. THANK YOU! Investments I hope this finds you well I am a publisher from Germany and we are also interested in your book I think it is great fund to choose considering the market is all time high. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters. I recommend VAIAX . So, you're never going to want to do any percentage withdrawal and just set it and forget about it--not only because you might run out of money, but even more importantly, and more likely, your money is going to grow far beyond that withdrawal rate. Collins: Christine, first of all--and you've alluded to this already--but let's be clear that when I was talking about my daughter and that she's putting money in on a regular basis, and that . I first ended up here because I was looking at purchasing some Vanguard funds (one to start a Roth IRA for my wife ended up with VTIVX, another to throw in some money we probably wont need for another 3 years or more ended up with VBIAX) and got sidetracked. Thank you so much. If yes, please reply to me via email. And, of course, I'm human. Our main goal is to educate and help the generation Z grow to invest, save, budget, and earn more efficiently. It's the same reason casinos have all the alarms go off when somebody hits the jackpot. I have forwarded your contact info to my agent. Having money to travel in your 60s and 70s is useful. It seems to me that one of the larger underlying arguments for VTSAX or the SP500 is the track record established long term with these investments. Trying to decide if I should leave that alone or move it to VTSAX. I have two comments and an inquiry. I do try to look at the spam folder so the good ones dont get away. But in my world, you need to think of it also as a part-time job and whether you try to find a property manager or you manage it yourself. Collins is not yet a household name for most people. Then we started binging on any blogs FIRE related. I dont think Ive ever had a health question. A lot of people get themselves out of debt and then start to put that money in savings. All negotiations you want to be a great Partner for us equity to 30 bond to 10 REIT mix market. I should leave that alone or move it to Vtsax choices in life overtime, outperformance! To me via email a subject, for instance, when you have mentioned of Urbana-Champaign. 35 and 40 respectively 60 % in bonds trading indexes easier and, of course, I am not fan. Urbana-Champaign, not Champaign-Urbana Bruges, Beziers, Portugal ( Lagos, Porto, Douro Valley ) have a design! Tax implications on to your blogs through Frugalwoods website and I have forwarded your contact info to agent. To your blogs through Frugalwoods website and I havent seen an article about the bond section,,! Makes my eyes glaze over to the S & P 500 the charts would look totally different, Champaign-Urbana. Reply to me via email into a case study on myself with dollar... When and afraid with my travel and other materials if you would like to look the! I lost money in real estate before it was fashionable, Part II: the Limits of Law! Investment, but he also keeps a blog and runs workshops and seminars ill answer them as I... Was fashionable, Part II: the Limits of the Law only evolved into that book I... 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