So, you're just better off getting that money to work in the market as soon as possible. You are obviously smart enough to mechanically do it. glad you are here and I appreciate you letting me know! I put a hold on this until I could review the tax implications. 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). I The first is: is buying stocks on sale nonsense? Thanks. I have expectations of using my tax-deferred IRA to support living and to make charitable giving in retirement, fulfilling the RMD annually. I have been following your stuff in the last two months. I only have access to fidelity Investments. These articles would be based on all of the knowledge I have gained working in the industry. Could you please ask your agent to contact me? The discussion of stock returns over time should address the issue of real versus nominal dollars. For that last one I sometimes get credit. I was just discussing VBAIX in the comments on my most recent post: Low cost broad based index funds is the best solution compared to picking any select sector of stocks. 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. I am reading your book and plan on purchasing a few to give to my adult kids. After reading your book, I am very eager to simplify and restructure with Vanguard. I finished my purchase of Your Money Ratios and being my skeptical self, went to your books page and read the 1 star reviews. I never felt overly confident in my thoughts because there are so many different opinions on the subject of personal finance. So, if you can read my book, and it makes sense, the principles and approaches make sense, then I think that's the better approach than target-date funds. Scott Vleeschouwer. I'm realizing all we really pay for on our own accounts is food and fancy meals out. book on Audible and have listened to it over a dozen times now. Now that's all easy to say, and it's easy for people to understand in their head. Life feels easy now. Ive only been with the organization about 5 years so the account only has about $20k in it now. If anybody does, I'd love them to share it with me. For a refresher: https://jlcollinsnh.com/2017/04/14/sell-sell-sell-sell/. The minimum for VTSAX is now $3,000, so Id buy that directly from Vanguard. Then, with whatever discount they offer and you accept: Thanks! Very inspiring to learn more about you. This is a great discipline, but investing needs to happen to secure your financial future. I was also an English major at Wabash College (20 years ago). Investing has always been intimidating to me but after reading your book I feel like I can finally make some moves. I look forward to your announcement! As for other resources, Ive not done a post but you will find a blogroll in the left-hand column. I have 2 separate 401(k) plans from previous employers in Fidelity. 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. Maintaining independence and editorial freedom is essential to our mission of empowering investor success. And again, I think a great companion to my own book, if I can say it. I am also sure, that it is wise, not to be all to dependent on the shiny illusion, that consumption will make you happy. Christine Benz does not own (actual or beneficial) shares in any of the securities mentioned above. But if it goes that far, that you cannot afford the goods which constitute a modest normal life, there might be a problem anyway. There are several posts on other FI blogs dealing with this issue that may help. early retirement, extended time of not working, travel), correct? I would love to send you two pics celebrating this moment. Wait for them to fall again? Hope to hear from you soon! First time reader of your blog and already a huge fan! I view them as an expensive indulgence if you will. So if you want to follow my advice on that, VTI is your fund. 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. This seems to fall in line with your advise on investing. So, I've now forgotten your question, Jeff. Buy in slowly? It's the American tradition. Hope you enjoy poking around. Jim isnt telling you that theres no risk investing aggressively. Paul. "The Trinity Study and Portfolio Success Rates," by Wade Pfau, Forbes, Jan. 16, 2018. Youll also find how I personally approach this issue. Stocks -- Part VII: Can everyone really retire a millionaire? So, my main thought was watching this is theres going to be a lot of tears for a lot of people. Thanks! Am I on the right path?? My guess is likely not. Money means very little in its own right, it just gives choices in life. Travels in South America: It was the best of times. Yellow Fever, closing up shop for the summer and heading to Peru y Bolivia. Any money invested wouldve appreciated, quick. 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. But the kind of dollar-cost averaging you're asking about, and you did make this clear, is what if you wind up with a lump sum of money for whatever reason. They are only making Collins index fund greater so that he will never have to work. Unfortunately thats not how it works. And since 2011, the markets have done almost nothing but go up. You can imagine how I felt once I really began to understand compounding. Hey, gimme a break. I really resonate with your book, and I need someone to help guide me in the right direction. Please email if so. Used to be in NH. JL Collins: Thank you. Also, Hi Mr. Collins. 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. Republic Wireless and my $19 per month phone plan. I don't see real estate as being a passive investment. When you inherit a some of money like $100,000, how should one invest it? But now I feel like such a fool. I loved what I read and it helped me pull the trigger on some changes I needed to make in my familys investment portfolio. He is taking SS, small pension and has some rental income. Im a moderator for Reddits financial independence/early retirement subreddit, where I go by ER10years_throwaway. I have already maxed out my 2022 IRA contributions and have been investing my additional income with my brokerage account. Thanks in advance. My fianc and I were recently told about your book from family friends of ours Scott and Taylor from Playing with FIRE Documentary! J L Collins The Simple Path to Wealth: Your road map to financial independence and a rich, free life Kindle Edition by JL Collins (Author), Mr. Money Mustache (Foreword) Format: Kindle Edition 8,954 ratings See all formats and editions Kindle Edition 449.00 Read with Our Free App Audiobook 0.00 Free with your Audible trial Great on Kindle 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. Dow, S&P, other? 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 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. And having a clear path has lifted this massive weight from my shoulders. I am curious to learn if given these changes, your advice and plan are different than what was written? He just opened his first Roth IRA. JL Collins recently released his first book, The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life. Mrs, Sarah Middleton; one sister, I have to say this is the first time anyone has thanked me for making their girlfriend hot. Stocks -- Part XIV: Deflation, the ugly escort of Depressions. In your 80s and 90s, not so useful. This is a taxable event. Which of those things is more likely? But for anybody who has ever had a job where you're managing people, you know that managing people is not passive. I read it in one sitting. Empty nester; either rent or live in a paid off (15 year mortgage) house from stage 2. I know you dont recommend investing in a single company, but Microsofts stock has been performing exponentially for the past 10 years. 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. To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research. I know you've talked about this on your blog about how homeownership might actually make sense for people who would otherwise have trouble saving? 3. Am 59years old and my husband is 60. Glad you like the book and are passing it on to your kids. Once I do that can I then invest the total in VTSAX? The 4% rule, even before the current environment you were describing, did fail 4% of the time--no connection to the two numbers. Just to close, I wanted to get back to your Simple Path to Wealth. I just found your blog. Thanks for sharing your insights they are valued! I have forwarded your contact info to my agent. I wish I had your e-mail address to send you a proper thank-you message for the work youve been doing lately. And there's nothing wrong with indulgences. Hello. Now I am left wondering what have we done?!? The main character, Erik, is a fan. I was buying what was most important to me. Most important tip I gave them was how to hide their tattoos for an interview. You may want to read one of Jims case studies on investing a lump sum in VTSAXthere is one where there is a guy with $35K and he recommends putting the entire amount in VTSAX: Just be patient. It was not your intention, but your idea created a monster for me. I work at Microsoft and first heard about you from a investment distribution list there. Ive gained a few bucks and, to be honest, Ive certainly lost a fair amount of money. But this is clearly not what happened for you and others recently. JL's writing is sincere and without the conflicts of interest seen in so much of the financial literature. I have great respect for your work. Let me start thinking about it. 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. 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. Did you buy the place in Ecuador? I am a editor of Business Today Megazine in Taiwan, nice to get in touch with you. Continuing to invest from your earned income while building your wealth. Scott. And ohh the irony of what was said in this post, the date that is was posted, and what was happening in the market when it was posted. Hi, As they say, when the student is ready, the teacher appears, One article I came across today reinforces exactly what you said: 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. Benz: One area where you run counter to the conventional wisdom is that you're not a big fan of dollar-cost averaging. Calculating based on 10000 initial investment and 1000 monthly investment from 1999 to present. Surprise.. our bill was $6382. Should I make contributions to my IRA at all? Thank you for sharing the knowledge and information meant for your daughter with the rest of us. This feels scary, because it is bound to go down, and it leaves me wondering whether I should sell now. Considering a venture capital fund as less than 1/10th of my after tax portfolio. 1. And when he died--and he died at a fairly young age of emphysema, he was cigarette smoker--the only asset he left behind was the paid-off house. Thanks! in any case, im looking foward to saving my first 10,000 so i can invest it in VTSAX. Ask him bout the exploding rocks. It, in retrospect, was just much more effort, and it wasn't working as well as indexing would have worked for me. I really enjoyed your book. And I may have forgotten one or two. How I lost money in real estate before it was fashionable, Part II: The Limits of the Law. The simplest solution is usually the correct solution. Im inclined towards Index investing. Im one lucky guy. The market will crash. Paperback: 286 pages I am seeking a link to my website. If you get a chance, please put a five star review up on Amazon for me. https://jlcollinsnh.com/2012/02/08/how-to-give-like-a-billionaire/, Im one of many who learned so much through your blog. Id love to get your input. Thank you for your interest. All the best, MS. First I want to say thank you for all of the knowledge you share in your book. 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. Ive traveled to and around those places by plane, train, bus, boat, subway, taxi, hired car, motorcycle, bicycle, rickshaw, hitch-hiking, foot, horse, donkey and elephant. Mr.Collins, but I am unable to offer private consolations. Thank you for your very kind words, ajay. How I lost money in real estate before it was fashionable, Part I: Impossibly Naive. Hi JL, Is this valid reasoning or am I making an error there? Read the Coffee House Investor and just finished The Bogleheads guide to Investing (Lindauer, Larimore & LeBouf). If I own a treasury issued by the United States government that is good for 10 years and pays a 3% yield, I can be assured that I will earn my 3% coupon every year for 10 years and then receive my initial investment back at the end of the term (unless the government goes away or defaults and we have a much larger problem). My wife gave notice at her job last week and Im building up the courage to do the same. And that's the case with most speculations. What I mean is augment the information in the book to address some important asides and create a condensed version (maybe you already have one in this: https://jlcollinsnh.com/2011/06/08/how-i-failed-my-daughter-and-a-simple-path-to-wealth/, starting with It starts with nine basics. The author and financial blogger discusses why less is more in investing and his controversial take that homeownership often doesn't add up financially. THANK YOU Mr. Bogle for creating the tool and thank you Jim for teaching us how to used it. You usually reference Vanguards and just call it a day, and then maybe eventually add bond funds for ballast. Should they invest in 100% total index fund? I am a great fan of you from Italy and wonder when is expected to have available the italian version of your book. Thanks so much for your writing. Are they still available? Thats high praise indeed! So we can confirm if any of the FIRE students stick to the basic rules, they will get there. But probably the biggest one is that it took me so long to embrace indexing. But target-date funds are not a bad approach. No work is required on your part. Collins: I write primarily for what's come to be known as the FIRE movement, an acronym that stands for financial independence, retire early. I don't really like the retire early part of that, because the people I know in this might quit their day job, but they go on to do other productive things. Ive always worked, but made enough to travel, quit, then repeat. Hey Jim Marketing Any other advice for those in my age range? I went from what am I supposed to do with this growing pile of lazy cash? to My Stock/bond allocation will be xx/(1-xx), and total market funds only, since I want both value and growth.. 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. . More and more I see my work plagiarized and stolen. And a key piece of advice that you've given again and again is that people should start out by putting as much as they can into a total stock market index fund. Small (or large or value or growth) stocks have outperformed your stupid VTSAX.. I love audio books, is your book available in audio or are there any plans for that? Thank you! BTW, did the Vanguard rep you spoke to know about my book when you mentioned it? While Im no expert in investment options for those outside the USA, people have found value in my stock series no matter where they live. March 13, 2020 was a good time to be buying Vtsax as it was around $60. You have to be willing to accept the fact that at any given moment, the money you have invested in stocks has the potential of dropping dramatically. I have a pre-tax portfolio (1/3 wealth) and and after tax portfolio (2/3 of wealth). Hi I am using portfolo visualizer to back test your portfolio. I dont feel the need to hold international stocks or, by extension, bonds for the reasons I describe here: https://jlcollinsnh.com/2012/09/26/stocks-part-xi-international-funds-2/. I am contacting you on behalf of the Finllect Team to determine whether you would be interested in helping and educating members from the Gen Z with financial activity and independence for a better future. Please let me know if this can be arranged. Deals are signed to publish it in China, Taiwan, Vietnam, Thailand, Russia, Poland, Spain, Brazil and in Arabic. Question: 1 Through reading your series, bouncing to all the external links, and re organizing my portfolio Ive come to understand why Im working and what Im working for. Do I have to need a CFA or get qualified? Eight years from the 4th of March, 1869, he will be about fifty-six years old. It was revealing that Grant, still haunted by his prewar fear of poverty, analyzed the presidency through the lens of financial security. Jim Collins has literally done it all. 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. 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. Please, give me a respond if you are interested in it. Therefor I ask your permission to publish a blog with most of Stock Series translated to Hebrew, keeping your full credit. Youve sustained a thoughtful dialogue on an important topic via a challenging medium. Reading your notes for your daughter was quite emotional, made me wish I had a mentor like you when I was her age, I wouldnt have done the many mistakes I did. I want to email you if possible. Thanks, too, for passing the book and message on to your friend. They have always been and will continue to be parallel. Mr. Collins is currently traveling and unable to respond just now. Good for Jims blogger fans to see how the Red Road merges with business, life and money. have around 95K in 401k, started 2012. this is in addition to my non-US investment. But when you stop earning that cash flow, and you decide to retire, whether you're taking a sabbatical, or you've come to the age where you're not going to work anymore, then you need something else, it seems to me, to balance out the volatility of stocks, and maybe to provide some dry powder to take advantage of the plunges. They did well for me until they blew up. . Now following up on the advice in the book, I was looking at the available data for VTSAX and have two questions: 1. Monday of this week, I started researching, I knew we had made huge mistakes with letting our money sit in bonds, I met with 2 financial planners and did hours of research on what they had told me. J L Collins The Simple Path to Wealth: Your road map to financial independence and a rich, free life Paperback - 18 Jun. So far at least she knows: that getting in debt for stuff to impress others is silly, going out-of-state for college(if no adequate scholarship is provided) for prestige is silly and when she starts working she should invest in VTSAX. If you are wondering whether to dive in,thisindependentreviewmight help. So, far in a way number one. First time Ive read a book that fast in 20 years probably. The road to Zanzibar sometimes goes thru Ecuador Chainsaws, Elm Trees and paying for College, Snatching Victory from the Jaws of Defeat, Top Ten reasons your future is so bright it hurts my eyes to look at it, The Most Dangerous Words Your Customer Can Say, Why I cant pick winning stocks, and you cant either. Whatever your schedule will allow. I recently listed to your newest podcast on ChooseFi and I had some thoughts about the bond section. Im a content writer and specialize in finance, money managing, debt related topics. Collins: I think when people say that what they overlook is the idea that it's not just the thing you're buying, but it's where you're buying it. Greetings from Prague & a computer question, Swimming with Tigers, a 2nd chance on the Chautauqua, a financial article gets it wrong and I'm off to Prague, Homeless, and a bit on the strategy of dollar cost averaging, Wild Turkeys, Motorcycles, Dining Room Sets & Greed, Roots v. Wings: considering home ownership, Meet Mr. Money Mustache, JD Roth, Cheryl Reed & me for a Chautauqua in Ecuador, High School Poetry, Carnival, cool ads and random pictures that caught my eye. He will most likely retire in 6ish years. I love saying that! As I say, I've owned them for most of my adult life, but don't buy them as an investment; buy them when you can easily afford them, and they provide a lifestyle that you're looking for. Health insurance is the biggest question she has to the early retirement scheme Ive got her on board with everything else. I am grateful to you. Therefore, 1,250,0000.04 = 50,000. Very interesting life so far Jim! To answer your question, if I were to do it--and again, I haven't researched these--but I am a big fan and very impressed with Elon Musk. http://www.marketwatch.com/story/this-bull-market-could-be-here-to-stay-2017-05-17. Joan had two children, Tara and Alexander, with her ex-husband, Alexander Newley, as well as a third child, Katyana, with her ex-husband, Ron Kass. I would appreciate any advice. With that in mind. He just kinda dropped away and I assume is too busy lacking ambition to write any more on Lacking Ambition. Thanks and congratulations for all the stuff provided as well as the investing tips given in the several podcasts on FI community. I feel like I dont have time to be conservative. I want to prove its possible! As someone who doesnt live in the USA, it has been sobering to watch the pandemic unfold there. . From my understanding they help with the upside in the market but you will not have the risk. Im trying to contact you about an editorial collaboration but I cant find your email. Well, Brian gives a very succinct explanation of what the Federal Reserve is, certainly more so than I could do off the top of my head. 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. One solution would be to pick individual stocks that fit your criteria, but you would really have to keep track of them, both from an ethical and performance standpoint, also unless you had a large sum to invest it would be hard to achieve diversity. BTW, my wifes cousin is a professor of economics at Cornell. I like very much the content on your site and have a proposal that might interest you. As a major proponent of VTSAX and its incredibly low expense ratio, has this new offering from Fidelity popped up on your radar? 2. Jim, I have a logo design for you. This blog launched in June 2011 simply as a way to archive this information for my daughter. VT is the ETF version of VTWSX. It was more a slow, gradual education and understanding. With Finllect, users can automate expense tracking and categorization, access gamified budgeting tools, and personalized in-app rewards catered to each individual on our platform. also What is your take on goldmoney.com? Jim you called and I was traveling. Spend less than you earn invest the surplus avoid debt. I do not know. And I want to sincerely thank you from the bottom of my heart for giving me an endless optimism for the future. . You won't need "f- u" money as JL Collins calls it because you won't have to say that to anyone. Thank you for sharing, teaching, and inspiring. I figured if I could do that twice a week,or hell,even 5 times a month,I could make it. Your email address will not be published. Volunteer work through Junior Achievement in Los Angeles. Moderator for Reddits financial independence/early retirement subreddit, where I go by ER10years_throwaway was the best, first! First 10,000 so I can invest it created a monster for me first want! To give to my non-US investment, Jeff told about your book specialize in finance, money managing, related! Of stock returns over time should address the issue of real versus nominal dollars fall in line with your.. Are interested in it now with FIRE Documentary so useful make in my age range lost money in real before. Is more in investing and his controversial take that homeownership often does n't add up.! Outperformed your stupid VTSAX distribution list there continuing to invest from your earned income building! One area where you 're not a big fan of you from investment. 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