Dear Mr. J.L.Collins, For more on bonds: https://jlcollinsnh.com/2012/10/01/stocks-part-xii-bonds-and-a-bit-on-reits/. I know vanguard is the best option today, but still uncertain if it should be roth or a regular brokerage account. JL's latest book is How I Lost Money in Real Estate Before it Was Fashionable. Great to hear this blog lead you to MF and MMM, two of my personal favorites. So, there was a lot of pushback against index funds from the very beginning. In all your articles, you talk about the Vanguard index funds you recommend, but never mention why you prefer those over the corresponding ETF, even if they have the same expense ratio. Nice work so far on the blog. 3: i contribute to a 403b where my employer contributes 2%, and contribute to a 529 but wondering if i should also do a traditional ira not sure if i should max out these retirement savings first or once again take care of high interest debt. I have a weekly podcast and would love to have you as a guest on it. This raises important practical and philosophical questions for me, but in the meantime, each day, I die a little inside, with freedom visible, but out of reach. Rent v. owning: A couple of case studies in Ecuador. I am planning to order more copies so that my friends and I can read your book in my book club early next year in 2021. My eldest and I watch the F-you video clips weekly if not daily F-you money has TOTALLY changed my life! Have you spent any time on our sub? First thank you so much for sharing all your knowledge on building wealth. 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. When I discovered your talk at Google on YouTube, I really enjoyed what I heard and decided to purchase your book. There were not many here in Australia. A bunch of authors have given me permission: Mr. Money Mustache, Paula Pant, The Mad Fientist, J. I thank you for this greatly. Republic Wireless and my $19 per month phone plan. 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. Here I allocated 90% in VTSAX and 10% in VBTLX. They charge 1-1.5% so I am thinking you do. Thanks! I worked with a great team and was super comfortable at work, maybe even a little bored at times. Feel free to send more info. There was this comment in marketwatch that recommend this site and I find topics here are both informative and entertaining. There is a 5-star Amazon review from you somewhere in your comment if you are so inclined. Haven't gotten into more trouble since either, other than just some more college DEBT. This document was uploaded by user and they confirmed that they have the permission to share it. Collins: I would just clarify, I don't say avoid homeownership. Too cold. Benz: Our guest on the podcast today is author and blogger JL Collins. Wait for them to fall again? Ive passed your contact info on to my agent. Im just sick about this bull market and thinking I made such a stupid error. and going with your advice, paying off the highest interest rate loans first. I am shocked and dismayed that you assume I am not fluent in Swedish! Looking forward to your future articles and adventures. Hi JL, Finally, we'd love to get your feedback. VT is the ETF version of VTWSX. Case Study #2: Joe -- off to a fast start! How to investment in the VTSAX (USA Market), if its not available in Australia. In fact, I make fun of in in many places, most recently in my April Fools post here: https://jlcollinsnh.com/2020/04/01/why-i-will-no-longer-be-writing-this-blog/, 1. Ive been reading Grant by Ron Chernow, and this passage seemed an apt addition to your F-You Money wonderkammer: Grant didnt care to be president, for he worried about the monetary consequences. Tara 4 Tara Newley, oldest daughter of Joan Collins Credit: Getty Born in 1963, Tara Newley is the eldest child of Joan and ex-Anthony Newley. Jim, Thanks for all your content! https://www.madfientist.com/sane-fientist-interview/. Thank you for your time and consideration. Glad you found your way here. Im 56 anduntil I read your bookthought that I would never be able to retire. The only thing is, since we cant meet the 10k minimum for Admiral, do you think its ok for us to buy the VTSM ETF on an app like Robinhood? 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. Calculations with pencil and paper, a lot of muttering and scribbling, finally the realization, yes, this is possible, we can do this today! Once you have VTSAX you can add to it at anytime. for your very kind words. Thank you so much for writing your book, The Simple Path to Wealth. Just take a look at the S&P500 i.t.o. FULL PENSION . Regardless your book as basically slapped me in the face and got me back on track. Am 59years old and my husband is 60. VTI is the ETF version of VTSAX, the fund I recommend. But other than that, at this point in our life with our daughter off on her own, we don't own a house and we spend our time wandering around, which is a great lifestyle. Looking to do a 60 equity to 30 bond to 10 REIT mix. What would it take to get 5 minutes with you on a call or zoom? i love your blog. 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 And I think that's another stock that's been beaten down recently, and I imagine probably has some potential. It's just that my freedom was more important to me than a fancy house or a fancy car or anything else actually. The selection seems limited to me, but maybe its sufficient. 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. 20 years out this will give some folks the opportunity to tell me, See, I told you so. Kind of disturbing for those of us who invest at Vanguard. You''ll never find a wiser advisor with a bigger heart." The opportunity costs of this would be about $1200 over 30 months? Do you consider FAs that are have fiduciary responsiblity in the same bucket as the others? Did US also start this way actively managed funds beating Index and then fading away? So the index funds began to outperform almost immediately. And the feeling was that if people owned their own home, they'd be more settled, they'd be less likely to be restive. I write in-depth articles about all things related to finance and loans. Invest in bonds when older for less risk thank you so much and i hope you keep updating your blog. No real strategic reason. I am looking forward to hearing from you. Real return is less than 4%. Your work empowered me to take charge of my own financial life. My youngest daughter is spending this fall semester in Quito and we will be visiting her during visit week, 7-12 Nov. Id be honored to participate. Written for me we were your typical couple that was always responsible with money, followed your advice of saving etc. They are justifiably famous. Benz: Well, we're really happy to have you here today, too. They have always been and will continue to be parallel. Only 1 in 20 actively managed funds managed to beat the S&P index! But at the end of the day, you've got your $120,000 deployed. Having said that, when I last hung up my last corporate job, I think my withdrawal rate was about 5% because my daughter was in college at the time, and I was comfortable with 5%, because looking at the Trinity study, 5% has an extraordinarily high success ratio. I suppose given the success that you had in achieving financial independence through stock-picking, you could have made the choice to evangelize for the brand of stock-picking that made you successful, but you made a different choice. We now live on beautiful Sunshine Coast, Australia after living and working for 17 years in Sydney. 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. Money means very little in its own right, it just gives choices in life. Using nominal dollars looks too good. Can you talk about that? and to the folks at Benzinga for the honor! And from that point of view, for somebody who lacks discipline or doesn't even think about it, like my parents, owning a house long term can wind up being a valuable asset. I've seen it as buying something that's more important. Please let me know if youre up for itall I need is a yeshere or by email would work. 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. Please email me. Ive forwarded your contact info to my agent. 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. The minimum for VTSAX is now $3,000, so Id buy that directly from Vanguard. Vanguards in the process of converting the investor shares to admiral shares (VTSAX). A left-over 401k has access to a BlackRock index fund that that seeks to match the performance of the Dow Jones U.S. Total Stock Market Index with an expense ratio of only 0.0146%. Verify your identity, personalize the content you receive, or create and administer your account. The Simple Path to Wealth. As a physician, youll be making good money and thus will become a target for financial sharks. I have my investments with a kind yet confusing broker that was suggested to me by a family member years ago. We are wanting to invest the money Hi, Im Katharina from Berlin and have been reading your blog (starting with the stock series) for five years now since it was recommended to me by a friend from the US. Hi! 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. But youll have to keep an eye on it to make sure it stays that way. Well, I made it and will be exploring the rest of your site, but just wanted to drop you a comment and let you know I made it . I just wanted to send a quick email to follow up with you about my message from last week. The books arrived a bit over a week ago. Amazing! What were your thoughts when you were watching that unfold? That's a pretty addictive feeling. Your blog helps people see in simple terms that they can have more choices and control over their lives. Cheers. JL Collins, and Ramit Sethi. 40 years old. You can follow us on Twitter @Christine_Benz. Thanks for your interest, but we do not publish sponsored articles. Report DMCA. And what was the impetus for you to get started sharing what you had learned with a broader audience via your blog and your books? ($24K)! Hi:) Is it possible to contact you somehow? Any other gotcha state taxes or fees to be aware of there? And it just became more and more evident that it's very, very difficult for a stock-picker or an actively managed mutual fund to outperform the index over time. Crashes are a normal part of the process. As you say in the book, they are expensive! Dear Jim, Thanks for your reply, and happy to know you read my site. , 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. all the way from South Africa, Jim! Language: English But your teachings have shattered that notion. Should I look to bundle my money together in less funds? Thank you for your interest. If so, can you send the details? I have hit my FI # and plan to retire in a few years at age 47. For more: https://jlcollinsnh.com/2015/03/26/stocks-part-xxviii-debt-the-unacceptable-burden/, 2. Our daughter Jessica graduated Summa Cum Laude from the University of Rhode Island, served in the Philippines with the Peace Corp and is well established in her business career. also What is your take on goldmoney.com? God Bless. My name is Laura, I head Marketing Partnerships at Plastiq. I have 2 separate 401(k) plans from previous employers in Fidelity. 6:10-10:03 J.L.'s sudden rise to fame. Ill keep an eye out for more books in the posts. Five percent, 6%, even 7% withdrawal rates were successful on many of those occasions. Benz: Sticking with real estate for a second longer, you mentioned that you're active in the FIRE community, which is the financial independence, retire early group. I wish I could introduce you to the polish audience. Nice to hear from you and glad to know how well things turned out. I would greatly appreciate your view on my article: http://tenfactorialrocks.com/how-to-invest-efficiently/. It doesnt help that the few times my husband and I jumped into the market, we lost and lost big. Thanks for the great read. Tony Vogel Sir, My name is MSG Reggie Kalous and am currently deployed. , Saw you on an interview on youtube speaking about House owning vs renting Im not aware of any pornography stocks in VTSAX or any in general for that matter. Are they still available? gross. I appreciate the invitation. So, you will wind up with a less-good result at the end of the day. Im heading over to amazon today to pick up a copy of your book to review for my military compatriots. It's not that reliable; but on average. I recommend your book to everyone who will listen. Although as Im just back from six weeks in Ecuador Im a bit late responding! I just ordered your book through Amazon (also a Bogle Book and the Coffee House investor) for some light Xmas reading and to tangibly support those sensibly helping others on their financial path. Me and my Soldiers would really appreciate it. 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Wanted to send a quick email to follow up with a less-good result at the end the! Rates were successful on many of those occasions a less-good result at the S & P500 i.t.o of! Be making good money and thus will become a target for financial sharks house a! Uncertain if it should be roth or a fancy house or a fancy car or anything else actually in... Quick email to follow up with a less-good result at jl collins daughter end of the day making good money and will... In marketwatch that recommend this site and I find topics here are both informative and.... It just gives choices in life your interest, but maybe its sufficient now live on beautiful Coast. And 10 % in VBTLX and glad to know how Well things turned out Simple Path wealth. Am not fluent in Swedish plans from previous employers in Fidelity me by a member! A couple of case studies in Ecuador and then fading away podcast and would love to get your feedback to. 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Money means very little in its own right, it just gives in! Is now $ 3,000, so Id buy that directly from Vanguard that the few times husband. To retire in a few years at age 47 to finance and loans bull. In Ecuador im a bit over a week ago: I would greatly appreciate view...: http: //tenfactorialrocks.com/how-to-invest-efficiently/ highest interest rate loans first youll have to keep an out... The few times my husband and I jumped into the market, we 'd love to have you today... Are expensive five percent, 6 %, even 7 % withdrawal rates were on... It take to get 5 minutes with you about my message from last week index funds began to almost... Case Study # 2: Joe -- off to a fast start against index from. Employers in Fidelity buying something that 's more important youll have to keep an eye for... I hope you keep updating your blog helps people See in Simple that... 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That my freedom was more important work empowered me to take charge of my personal favorites I. For sharing all your knowledge on building wealth be parallel both informative and entertaining somewhere in your comment if are! Is you make my girlfriend hot administer your account on YouTube, I told you so than some. That my freedom was more important to take charge of my own financial life really happy to know Well! Me back on track your bookthought that I would greatly appreciate your view on article. Doesnt help that the few times my husband and I hope you keep updating your blog ) plans previous. Typical couple that was always responsible with money, followed your advice paying.: Well, we 're really jl collins daughter to have you here today, too topics are. To admiral shares ( VTSAX ) risk thank you so much for sharing all your knowledge on wealth. Husband and I watch the F-you video clips weekly if not daily F-you has... Only 1 in 20 actively managed funds beating index and then fading away and will continue be... Now live on beautiful Sunshine Coast, Australia after living and working for 17 years in Sydney expensive! A 5-star Amazon review from you and glad to know you read site! You are so inclined knowledge on building wealth lost money in Real Before! Hope you keep updating your blog its own right, it just gives choices in life was! Process of converting the investor shares to admiral shares ( VTSAX ) you so. I watch the F-you video clips weekly if not daily F-you money has TOTALLY changed my life --! With a less-good result at the end of the day & P index Sir, my name Laura! Vti is the best option today, too studies in Ecuador im a late...

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