A Fortunate Son, to be sure, but hes not like most of us in America. I have forwarded your contact info to my agent. Hi JL, So, we can cross him off the list. Collins: Well, before we cross him off the list, let me just say, he's a fiscal saint. I will be giving your book to my daughter when she turns 18. Trying to decide if I should leave that alone or move it to VTSAX. Weekly newspaper from Crosbyton, Texas that includes local, state and national news along with advertising. JL's writing is sincere and without the conflicts of interest seen in so much of the financial literature. This is a great discipline, but investing needs to happen to secure your financial future. Stocks -- Part III: Most people lose money in the market. Thank you. Dan Otter and Scott Dauenhauer: Why Retirement Savings Options for Educators Are So Bad, Stocks--Part XV: Target Retirement Funds, the Simplest Path to Wealth of All. . So, I'm going to break it up into $10,000 chunks and I'm going to invest it over the next year. Well, if the market goes up, the second month you invest you're getting fewer shares for your $10,000 and the third fewer and fewer. jl collins! You might read thru the Stock Series and try the Search function here on the blog to pick up some more. Your voice Im beyond curious what you make of todays volatility compared to when you wrote your book. But when do you actually sell the gain/stock to have that money, or do you just hold it as long as possible? Hey JL. I was once corrected, its a HOME! I then corrected, no , its a HOUSE. Well done! Thank you I write a personal finance blog for physicians, named Physician Finance Basics. Looks like you are in Europe, so this post should help. I have my investments with a kind yet confusing broker that was suggested to me by a family member years ago. I immediately started my position in Vtsax. I was a case study of yours, #11 I think, a small business owner, back around 2015 or so. By way of introduction, I am a Finance & Content Intern at Finllect, a Dubai-based fin-tech start-up. 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. Sure, you will eventually win if you have many many years and a lot of money you cant touch. I have seem many wholesalers from fund or annuity sponsors tout their latest flavor of the day and fail miserably the following year later . There's a lot of promotion designed to encourage people to do that. Used to be in NH. and you buy your freedom and your time by virtue of having investments. Can you help me understand how this would work. If you do end up reading this and see anywhere I'm off or need to shift my gameplan please advice, or just a little simple bullet list of what to do ; ) Best line in the book: Spend less than you earn, invest the surplus (VTSAX) and avoid debt. We have new alternatives that could help you do just that. The email goes on to explain that the new ETFs are Vanguard ESG U.S. Stock ETF (ESGV) and Vanguard ESG International Stock ETF (VSGX). They still send me alumni letters mostly, I think, hoping Ive become rich and famous. Thank you for the beautiful simplicity in your work, and for empowering so many people beyond your daughter. Low cost broad based index funds is the best solution compared to picking any select sector of stocks. 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!! Could someone explain how this mutual fund works in regards to this topic? Part XVII-B: ETF vs. Mutual Fund -- What's the difference? My thought is to try to do this in different proportions (%) at different stages in the cycle. Let me check out your site and Ill PM you. I came to your blog to pay respect for being one of the great leaders of the FIRE movement I choose to follow. 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. It is a very personal call. Be sure to read the comments, too. After reading your book, I am very eager to simplify and restructure with Vanguard. Thank you in advance for your time and for writing this book. So now I live knowing theres a better way, and not able to pursue it. I would like your opinion on something. They'll make a handful of people rich, and the rest suffer. However, we are an international family so I made my first seminar about Its all a ratio This was an insight based on a headline after the shock Brexit vote in the UK The Pound drops but the FTSE goes up. B-S. I just purchased your book and read it all in one sitting it was a fascinating read that pulled together a lot of great thinking for me, and helped me to clarify my own path to FI. There is also talk on the blog and the book about pros and cons (mainly pros) of ignoring DCA (Dollar Cost Averaging). 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 . Since money is the single most powerful tool we have for navigating this complex world we've created, understanding it is critical. So, far in a way number one. Looking to minimize taxes and help to grow his money for retirement. CONDENSE: Create a one page (maybe trifold) condensed version and give it away on Amazon or in paper version, for free. Sounds like your daughter knows a lot for a a HS Junior. And if you don't pay any attention, you could wind up 30 years later with a huge pile of money that you could have enjoyed along the way. I have a pre-tax portfolio (1/3 wealth) and and after tax portfolio (2/3 of wealth). But that is only a guess. So my wife recently went into the hospital for a gullbladder surgery. Maybe there will exist goods of that kind in 10 years, in 20 years and so forth, which will be only affordable for those, who took part in the general growth of the economy respectively the wage growth, and not for those who adjusted their income to inflation? Im at ease for the first time in my life. Hamster. My next step is to get as much transferred to a Roth as I can over the next 7 years and to most importantly, NOT even look at my portfolio during any big decline until it is over and on the way back up and then to re balance. 1945, LU 1 CRETIA COLLINS of 5123 A st. I was 13 and it paid $1.25 per hour. Any thoughts would be immensely appreciated. Can I ask if you have thoughts on splitting the investments in VTSAX into growth and value ETF by Vanguard of course ? Now I am left wondering what have we done?!? My goal is $20K. 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. 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. Maybe there are some valuable experiences by people who have a long time of retirement behind them? I set out to start my own company Tiny Watts Solar and have since replaced my corporate salary and more recently even obtained health insurance ; ) An HSA with a high deductible ; ) Excited to use that too its fullest once I learn more on how to use it. JL Collins wrote his book The Simple Path to Wealth for his daughter (it started off as a series of letters to his daughter about money and investing) and then it turned into a blog in 2011 and then it turned into this book that was published in 2016. 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). About J L Collins These days, I'm a book author and financial blogger on jlcollinsnh.com, but it wasn't always so. Collins: I used to own investment real estate when I was a younger man. It really changed the way I invested. People buy it when things are bad, driving up its value. You seem like a regular guy, and I could really relate to your perspective on investing. We max out our company sponsored HSAs every year, but would like to not dip into that money. If you can buy them commission free and if you can resist the urge to trade, they work just fine. 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. But, I cannot find any student loans without compound interest. editorial policies. 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. Thanks for the great read. These products and services are usually sold through license agreements or subscriptions. COE T340 Prime Power Thanks for your time, and looking forward to your response. Youve sustained a thoughtful dialogue on an important topic via a challenging medium. The Lies That Save Us Broken Heart 1 Jl Redington is available in our digital library an online access to it is set as public so you can download it instantly. I especially liked your article on Dr. A fortune! Wow, thats an interesting perspective. Thanks JL! ..for your very kind words. I have a weekly podcast and would love to have you as a guest on it. No debt and really not a lot of concerns about money. I apologize as I think my original email was submitted incorrectly. I will wait till you come back. I am 40, my husband is 52, and we have a 4 year old child. I did this fullingly knowing that I couldnt predict how deep the market was going to sink and how long the low would last, but at least I got the 30% sale relative to a month before, right? Some of these organizations can create the ethical change you want. Hi Jim, 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. It has sold over 400,000 copies and has been published in Korean, Japanese and German. 1) Could a Dow Jones index, as opposed to S&P 500, be used to avoid investing in tobacco and alcohol companies? My degree in English Literature is from the University of Illinois at Champaign-Urbana. If so, can you send me the pdfs or sample copies for submission? "Why Your House Is a Terrible Investment," by JL Collins, jlcollinsnh.com, May 29, 2013. Please email if so. Second option is to pay them cash of $5105. The financial institutions encourage it. Im heading over to amazon today to pick up a copy of your book to review for my military compatriots. 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