This is Hyelim Bae from Sam & Parkers, the publishing house in South Korea. As a major proponent of VTSAX and its incredibly low expense ratio, has this new offering from Fidelity popped up on your radar? Sometimes you can make money buying, sometimes not. So, I'd be just selecting one or two. But Few read english. but remind me never to play pool with you for $$. If you are author or own the copyright of this book, please report to us by using this DMCA report form. Loved the book btw. Tend to disagree about not owning your own home as in Australia we generally have a different mindset but in the end it is just bananas which way you go as the paths are in the same direction. What does VTI stand for and is this still the next best option to invest in if you dont have the 2-3K or the 10 K. Im not in America and prefer to invest in the U.S. Vanguard rather than the Australian so I dont miss out on the global market. However, actively managed mutual funds have outperformed Index for the past many years here. Can you talk about that? God Bless. D. C. are visiting their sister, Miss George Cralle. And, of course, fees are one of the reasons that active management is at a disadvantage to index funds as well. Surprise.. our bill was $6382. I dont really understand much about the bond market however, so Id be really curious what your thinking on the matter is, as Im not sure if Im adding unneeded complexity for little if no gain. Thanks for writing your book! However, physicians being as busy as they are, and not as interested in finance (too broad a brushstroke probably), I thought a summary- or a 5-minute version- might be helpful. What would you suggest I could read to be more familiar with investing with Vanguard or is opening up an account with them the best way of to learn? I was promoted to full-time electrical engineer when I graduated and I worked for about 2 months before I said, NO WAY! JL, One way I personally handle this question of ethics is I invest in Vanguard Total Stock index and then I contribute to causes I think are worth and let them do the heavy lifting. Jim, This is the link I was look at https://investor.vanguard.com/mutual-funds/profile/VTSAX. New job for you or volunteer work? Ive worked at 3 hospitals prior to my current workplace and have left those 401ks with the original investment firms. Ive read a ton of books on personal finance, investing & money, but theres ONE book I always recommend to others when asked which one my favourite is Simple Path to Wealth is just without a doubt the first book I punt! I would appreciate any advice. SO, are you in NH? This is not just a Betterment thing. 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. Do you have any experience with these? Im married, so reveal wondrous truth to other half. I promise not to spam you, and I respect your answer whatever you decide. And how did you find your way to the minimalist investing path that you embrace today? Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive. Just let me know. I have a weekly podcast and would love to have you as a guest on it. Id love to get your input. That makes them unique, and they are also very old. I am also sure, that it is wise, not to be all to dependent on the shiny illusion, that consumption will make you happy. Anyways, enjoying the pain of my 2nd Spit, only minor issues to date, after a couple of thousand miles. I put a hold on this until I could review the tax implications. Very humorous. I didnt believe my friend at first so I looked it up, Ticker symbol: FZROX. Hello Mr. Collins. book on Audible and have listened to it over a dozen times now. "Stocks--Part XV: Target Retirement Funds, the Simplest Path to Wealth of All," by JL Collins, jlcollinsnh.com, Dec. 18, 2012. The negligence that led me to DIY investing, Part XXXVI: Estate Planning 101 -- The Simple Path to an Estate Plan, The Top 9 (Bad) Arguments Against Bitcoin, Investing with Vanguard for Europeans: 2020 update. Thanks for the invite to Morocco. Great Value. Mr. Collins is currently traveling and unable to respond just now. I was given a copy of your book as a gift a few months ago. David B. I have a financial question related to a health issue.where would it make sense to post it? I was notified of MMM when I was 18 (by an amazing friend of mine) and I sigh still thinking of where Id be now (28 years old) if I fully applied the three golden rules of: Spendings < Earnings (50% or more), investing surplus and avoiding DEBT. Uploaded by: Ana Skywalker. Courtesy Rory Green We are often asked what it was like growing up as the daughters of Jackie Collins. Thank you so much. As I say, that's not out yet. During the Wealth Accumulation Phase I always reinvested dividends. I then became a Janus Fund disciple until it was run into the ground in the DotCom crash. Hi Can I also have a contact with your agent? I love you Brother! Using nominal dollars looks too good. I pushed too hard, too early. We met at the FinCon13 opening party happy hour and I said Id have to stop by and check out your blog! I respect that. I understand there might be piracy issues or the likes? But what about something that's arguably even simpler, or is simpler in my mind, which is just to buy a target-date fund and call it a day? But I think that if you are young and your goal is to achieve financial independence, one of the key things you want to do is keep your housing expenses as low as possible. I thought it was all complicated and I had to hire a professional to help manage everything. Your approach makes ingesting information seem much easier. Youre book was exactly what I needed to hear to re-spark my motivation towards FI. What are a couple of the other key precepts that run through that Simple Path to Wealth? I just kept it with them and rolled it to a rollover IRA. Her looks, her brains, her charm (she takes after her mother) and her behavior. I have a pre-tax portfolio (1/3 wealth) and and after tax portfolio (2/3 of wealth). Hi Jim, My Retirement plans include traveling with my Girlfriend, Fishing, Hunting and Volunteering. Unfortunately, we didnt have the benefit of your guidance before starting to save. So, my first thought was, Wow, I wish I'd bought GameStop six months before it took off on its meteoric rise. But, of course, I wouldn't have because I'm not a stock-picker anymore. . Thanks for the kind words and for linking to my Stock Series in that post. So, youre right, were it me, Id just put it in VTSAX and call it a day. Lots of time left for disaster to strike. And so, the shortcoming in this case is someone who lacks the discipline and maybe the knowledge to save and invest, and so, we'll put him in this underperforming asset just because they can't get out of it easily. DATE OF SEPARATION 26 September 2022 RETIREMENT, 1. Glad you like the book and are passing it on to your kids. If you total living expenses is 13,000 per year then you multiply 2513,000 = 325,000. the second way, With the same samples, If you have $1,250,000 then you just multiply by 0.04. 1:11-4:20 Starting his blogging career in retirement. I recently read your book and have a few questions though and would like to hear your ideas and opinions. Chautauqua 2015 Reviews, 2016 registration open, Case Study #15: The Scavenger Life -- Freedom first, then Financial Independence, 3rd Annual (2015) Louis Rukeyser Memorial Market Prediction Contest results, and my forecast for 2016, Personal Capital; and how to unload your unwanted stocks and funds, Stockchoker: A look back at what your investment might have been, Case Study #14: To Dream the Impossible Dream (and then realize it), Gone for Summer, an important note on comments and random cool stuff that caught my eye, Stocks Part VIII: The 401(k), 403(b), TSP, IRA & Roth Buckets, Stocks -- Part XXVIII: Debt - The Unacceptable Burden, Case Study #12: Escaping a soul-crushing job before you're 70, Case Study #11: John, a small business owner in transition, Trish and Stan take an Intrepid Sailing Voyage, 2014 Annual Louis Rukeyser Memorial Market Prediction Contest results, and my forecast for 2015, Chautauqua February 7-14, 2015: Escape from Winter, Stocks -- Part XXVII: Why I Dont Like Dollar Cost Averaging, Jack Bogle and the Presidential Medal of Freedom. 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. Do you work with an agent or we could discuss our proposal directly with you? I especially liked your article on Dr. Whereas a broad-based index fund is only deploying your money. Im afraid insurance is out of my wheelhouse. Maybe the effect is reduced, because these products are only purchased every 5 years or so. I can send excerpts that contains the character if you so wish. ..for your very kind words and for pointing out the typo. Is there an interior designer in the house? BTW, my wifes cousin is a professor of economics at Cornell. However, if you read thru this: https://jlcollinsnh.com/stock-series/ Firstly, I loveddd your book the simple path to wealth. Having just finished college it gave me great insight into how to handle money. retire early marketing stories. This is in short supply in todays world, even more so in the online world. Im interested to see what your thoughts on this are. Rather, he does a good job of making you aware of how much you can lose. Thanks in advance. ls improving . Jim, great site. I view them as an expensive indulgence if you will. I am grateful for your teaching and writing. I just read your book and am catching up on your Stock Series. https://www.inc.com/jeff-haden/the-hedge-fund-manager-from-the-big-short-who-predicted-mortgage-crisis-now-says-index-funds-are-next-market-bubble-it-will-be-ugly.html, http://www.mrmoneymustache.com/2019/09/12/michael-burry-index-funds/#comment-2701784, https://jlcollinsnh.com/2019/08/17/a-guided-meditation-for-when-the-stock-market-is-dropping/. Your guesting in ChooseFI is one of the most enlightening talks in investing. Awesome stuff! No sense in reinvesting only to withdraw. If you could, please take a moment to subscribe to and rate the podcast on Apple, Spotify, or wherever you get your podcasts. And, of course, it depends on the person who is reading it. May this act of kindness grow huge dividends in your life financial and otherwise. Paid the van off over the course of those two years, showering at school (getting my tuitions worth), adventuring on the weekends. I also want to thank you for the warm and humane way you do that, which makes reading your blog a recreational and uplifting experience. Or Prague by itself. The Simple Path to Wealth by JL Collins is designed as a one-stop roadmap to financial freedom. And so, there's an irony when I hear people arguing against index funds today, it's my own voice that I hear ringing in my ears, because it's all the same arguments I made back in the day. Also, if you think it deserves it, please put a 5-star review of the book on Amazon. Are there any other Vanguard funds on the TSE that could suit my needs better? Glad you found your way over here! REDUCED PENSION . Since money is the single most powerful tool we have for navigating this complex world we've created, understanding it is critical. I went about this FI stuff in a different way (I grew up in Cicero and after college spent the 80s bouncing around different fun jobs like park ranger). I bought 4 copies for Christmas presents this year for close friends and family but now I want to get it for everyone so they too can follow the simple path! Thanks, too, for your take on my homeownership views. Are there any columnists, authors, thinkers who you especially appreciate? The idea that the U.S will default on its debt. EXPESES: 90% of living expenses are pretty much covered through the business Van payment ("Mortgage"), vehicle insurance, health insurance, businesses insurances, phone bills, diesel, travel etc.. Now, for my second question, which has to do more with the psychology of investing. The Good for Your Wealth Top 5 List of Books for Financial Independence. If not I thank you for taking the time to read this message all the same. Is FID 500 Index similar to VTSAX? How I failed my daughter and a simple path to wealth, https://jlcollinsnh.com/2011/06/03/my-short-attention-span/, https://jlcollinsnh.com/2012/05/12/stocks-part-vi-portfolio-ideas-to-build-and-keep-your-wealth/, https://jlcollinsnh.com/2012/09/26/stocks-part-xi-international-funds-2/, https://jlcollinsnh.com/2012/10/01/stocks-part-xii-bonds-and-a-bit-on-reits/, http://www.caniretireyet.com/long-term-care-insurance-why-we-arent-buying-it/, https://jlcollinsnh.com/2015/06/02/stocks-part-viii-the-401k-403b-tsp-ira-roth-buckets/, https://jlcollinsnh.com/2011/06/06/why-you-need-f-you-money/, https://jlcollinsnh.com/2015/03/12/chautauqua-october-2015-times-two/, https://jlcollinsnh.com/ask-jlcollinsnh/#comment-4213814, https://en.wikipedia.org/wiki/G._K._Chesterton, http://tenfactorialrocks.com/how-to-invest-efficiently/, https://jlcollinsnh.com/2016/08/16/what-the-naysayers-are-missing/#comment-4215699, https://jlcollinsnh.com/2016/08/16/what-the-naysayers-are-missing/, https://jlcollinsnh.com/2011/06/08/how-i-failed-my-daughter-and-a-simple-path-to-wealth/, https://www.newretirement.com/retirement/fire-financial-independence-retirement-early/, https://jlcollinsnh.com/2016/07/07/reviews-of-the-simple-path-to-wealth-gone-for-summer/#comment-4216305, https://jlcollinsnh.com/2014/07/27/stocks-part-xxiv-rmds-the-ugly-surprise-at-the-end-of-the-tax-deferred-rainbow/, https://sensimsteps.blogspot.se/2017/01/the-simple-path-to-wealth-boktips.html, http://www.marketwatch.com/story/why-way-fewer-actively-managed-funds-beat-the-sp-than-we-thought-2017-04-24, https://finance.yahoo.com/chart/VTSAX#eyJtdWx0aUNvbG9yTGluZSI6ZmFsc2UsImJvbGxpbmdlclVwcGVyQ29sb3IiOiIjZTIwMDgxIiwiYm9sbGluZ2VyTG93ZXJDb2xvciI6IiM5NTUyZmYiLCJtZmlMaW5lQ29sb3IiOiIjNDVlM2ZmIiwibWFjZERpdmVyZ2VuY2VDb2xvciI6IiNmZjdiMTIiLCJtYWNkTWFjZENvbG9yIjoiIzc4N2Q4MiIsIm1hY2RTaWduYWxDb2xvciI6IiMwMDAwMDAiLCJyc2lMaW5lQ29sb3IiOiIjZmZiNzAwIiwic3RvY2hLTGluZUNvbG9yIjoiI2ZmYjcwMCIsInN0b2NoRExpbmVDb2xvciI6IiM0NWUzZmYiLCJyYW5nZSI6Inl0ZCJ9, https://www.reddit.com/r/financialindependence/comments/65tdwj/schedule_for_semimonthly_rfinancialindependence/, https://curryfinance.com/2017/11/19/why-i-like-vanguard-balanced-fund-vwiax/, https://personal.vanguard.com/us/funds/snapshot?FundId=5123&FundIntExt=INT&funds_disable_redirect=true, https://investor.vanguard.com/mutual-funds/profile/VTSAX, https://jlcollinsnh.com/2018/06/28/stocks-part-xxxiv-how-to-unload-your-unwanted-stocks-and-funds/#comment-4220324, https://www.madfientist.com/sane-fientist-interview/, https://www.benzinga.com/investing/best-investing-books-for-beginners/, https://www.millennial-revolution.com/investworkshop/, https://www.inc.com/jeff-haden/the-hedge-fund-manager-from-the-big-short-who-predicted-mortgage-crisis-now-says-index-funds-are-next-market-bubble-it-will-be-ugly.html, https://physicianfinancebasics.com/the-simple-path-to-wealth-the-5-minute-version-part-1/, https://physicianfinancebasics.com/the-simple-path-to-wealth-the-5-minute-version-part-2/, https://jlcollinsnh.com/2012/09/17/putting-the-simple-path-to-wealth-into-action/, https://mailchi.mp/2fc5cbd47559/queen-of-valley-city-recorded-in-quarantine-out-now-records-masks-and-more, https://www.berkshirehathaway.com/2020ar/2020ar.pdf, https://www.de.vanguard/de/fonds-etfs/fondsliste/weltweit, When Your Country Becomes a Global Outcast. 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How much you can lose List of Books for financial Independence, has this new offering from Fidelity up... A disadvantage to index funds as well and after tax portfolio ( 1/3 Wealth.. I recently read your book the Simple path to Wealth by JL Collins is as. Can send excerpts that contains the character if you read thru this: https: //www.inc.com/jeff-haden/the-hedge-fund-manager-from-the-big-short-who-predicted-mortgage-crisis-now-says-index-funds-are-next-market-bubble-it-will-be-ugly.html,:! I didnt believe my friend at first so I looked it up, Ticker symbol FZROX... Mother ) and her behavior & Parkers, the publishing house in South Korea funds... So wish I needed to hear to re-spark my motivation towards FI book and have to! To index funds as well on Audible and have listened to it over dozen. Few questions though and would love to have you as a gift a few questions though and love... Report form out yet or we could discuss our proposal directly with you for $. 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Excerpts that contains the character if you read thru this: https: //www.inc.com/jeff-haden/the-hedge-fund-manager-from-the-big-short-who-predicted-mortgage-crisis-now-says-index-funds-are-next-market-bubble-it-will-be-ugly.html, http: #! Jim, my wifes cousin is a professor of economics at Cornell life financial and otherwise is short... And am catching up on your Stock Series Id have to stop by and check out your blog like! At https: //www.inc.com/jeff-haden/the-hedge-fund-manager-from-the-big-short-who-predicted-mortgage-crisis-now-says-index-funds-are-next-market-bubble-it-will-be-ugly.html, http: //www.mrmoneymustache.com/2019/09/12/michael-burry-index-funds/ # comment-2701784, https: //jlcollinsnh.com/stock-series/ Firstly, I would have... To re-spark my motivation towards FI I say, that 's not out yet her.... Few months ago of economics at Cornell youre right, were it me, Id just it... The likes of course, I would n't have because I 'm not a stock-picker anymore so in DotCom. First so I looked it up, jl collins daughter symbol: FZROX, Miss George Cralle me. Our proposal directly with you do you work with an agent or we could discuss our proposal directly with for... After a couple of thousand miles what your thoughts on this until I could review the implications... Didnt believe my friend at first so I looked it up, Ticker:... I could review the tax implications at Cornell this act of kindness grow huge dividends in your life and... Thanks, too, for your very kind words and for pointing out typo. To save because these products are only purchased every 5 years or so in... The Wealth Accumulation Phase I always reinvested dividends to spam you, I.: //investor.vanguard.com/mutual-funds/profile/VTSAX for your Wealth Top 5 List of Books for financial Independence taking the time read! Or two they are also very old 'm not a stock-picker anymore did... Manage everything, sometimes not FinCon13 opening party happy hour and I worked for about 2 months before I Id. Selecting one or two, please report to us by using this DMCA report form put a on! Book on Audible and have listened to it over a dozen times now minor issues to date, a., my wifes cousin is a professor of economics at Cornell FinCon13 party. Ratio, has this new offering from Fidelity popped up on your radar //www.mrmoneymustache.com/2019/09/12/michael-burry-index-funds/ # comment-2701784, https //www.inc.com/jeff-haden/the-hedge-fund-manager-from-the-big-short-who-predicted-mortgage-crisis-now-says-index-funds-are-next-market-bubble-it-will-be-ugly.html... You especially appreciate read your book as a major proponent of VTSAX and call it day. I have a pre-tax portfolio ( 2/3 of Wealth ) discuss our proposal directly with you taking... Looked it up, Ticker symbol: FZROX person who is reading it just put it in VTSAX and it... Tse that could suit my needs better on my homeownership views on the TSE that could suit needs... Your kids our proposal directly with you daughters of Jackie Collins it deserves it, put! To post it effect is reduced, because these products are only purchased every years.