There's no question it was speculating. What a great site. But, as Andy Rooney once said, Never expect too much from your company. A lot of it is due to a temporary stress of going through an annoying and expensive divorce but much all has to do with my lack of financial awareness. Since 18 years old, I started my engineering undergrad at a community college but was still pretty much in an unfocused party mode, managed to obtain myself a $10K starter package in student loan DEBT when I basically had a scholarship to cover my course fees. And, by putting it here, the world gets to see it! L-funds arent for everyone, but when trying to convince colleagues to move themselves out of our default TSP allocation of 100% G Fund (U.S. Treasury securities), they sure are a great starting place. Anyway,I envy anybody who can break out of the rat race,even for a while.Kudos to you.Rock on, amigo! We met at the FinCon13 opening party happy hour and I said Id have to stop by and check out your blog! Now real wages tend to rise quite a bit more than inflation (not real wages of a big part of workers since the 70th, but this is another topic). Marketing Doc G was spot on regarding so many points. Lets see where I land up 10 years from nowit will be interesting to watch. Morningstar Research Services shall not be responsible for any trading decisions, damages or other losses resulting from or related to the information, data analysis or opinions or their use. I Just started listening to your book The Simple Path to Wealth. I have done the same and re-balanced my 401(k) following Jims advice. Hello Jim, Im sending you a big hug from Brasil. glad you are here and I appreciate you letting me know! Funny too,how something that used to be easy freewheeling fun,turns into a pressure filled job,when you do it to put food on the table.My game went to shit,losing to people I should have schooled,and I was lucky most nights to get away with just paying my bar tab. I found your site in late 2015 and it has made a dramatic difference in how I approach finance. Mrs, Sarah Middleton; one sister, Hi JL, approach that spoke to me as I prefer things to be as simple as Finally, I have a no-nonsense guide to securing a bright future for us and our new child. If so, can you send the details? It was just the reason du jure. If you do, I think youll regret leaving such an inappropriate and downright bigoted comment. COE T340 Prime Power Thanks for it all! Hello from Canada Mr Collins, 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. Had I realized this when I was younger, I might well have done the same. Any words of wisdom? Download The Simple Path to Wealth PDF book free by J.L. Do you have any experience with these? Collins: For instance, probably the biggest one of those kinds of things are the target-date funds have international exposure. Your guesting in ChooseFI is one of the most enlightening talks in investing. I dont feel comfortable discussing race in a public site, as anyway none of this matters in the journey to FI. Could someone explain how this mutual fund works in regards to this topic? And as we talked about a little bit earlier, nobody knows when these drops are coming. Ill be listening for your song on the radio, (in my regular car). Probably for the same reason I list Goa separately and Zanzibar separate from Tanzania. So, I'm keenly aware of the fact that investing, while I enjoy it, is a subject that makes the eyes of a lot of people glaze over. I was also an English Lit. I would think that the taxable is a great pool to give to your heirs, given that it will have a step up in tax basis at the time of death. I do not want to cash in my retirement savings (a target date fund) or my VTSAX. retire early marketing stories. JL Collins Interviews Doc G on COVID-19. Open up Index funds! It's the sad tale of the very first piece of real estate I ever bought, which was a condo in Chicago. Mitra/PFB. My take can be found in the third part of this post from last year: We are a Taiwan publisher, and would like to inquire on the status of the book: The Simple Path to Wealth: Your road map to financial independence and a rich, free life Paperback June 18, 2016 by J L Collins hello from India. So, I can't regret not doing something I didn't know about. Thank you for opening the eyes of many of us who still adhere to humility! Im reaching out because we think you would be a great Partner for us. So, anyway, there are always times when houses can be made to look like the best thing that you've ever done. So we decided to find an investment advisor who could guide us against such reactionary behavior. Maximized 401K etc. Author JL Collins accompanies these readers' stories with reflections on his "rules for the road"--as well as a candid conversation about the journey to financial freedom with his daughter, the inspiration for his original international bestseller. INCOME: Currently spinning out of control busy, refining the business model to keep up with demand. I mean, its still part of India. PER YEAR $ 39,403.80 It might be as simple as asking: Wow. Also I am planning to invest $30,000 every year in taxable account apart from 401k and roth (We are maximizing both of these from last year) till we achieve FI. That and the diversification they provide. They still send me alumni letters mostly, I think, hoping Ive become rich and famous. Thanks for passing my writings on to your sons. Its expense ratio is 0.15 similar to Target retirement funds. Very interesting life so far Jim! Im from The PaiSha Agency, based in Taiwan. Im new to your site and already finding useful stuff. I actually prefer to see these comments on the blog so the rest of the community can see and enjoy them. Luckily, 2 years later, she inherited enough money from a parent to destroy that debt completely and start a seed for our investing future. Your blog helps people see in simple terms that they can have more choices and control over their lives. You can see a full tour on youtube if you search "ultimate off-grid van life" Anyways if you need solar we got you : ), MONEY: Keep it up! Thank you so much! I will be looking forward to your response in this regard. What you feel comfortable with given your lifestyle choices (you used the word indulgences; close enough). But he asked about risk tolerance and time horizons and all those good things they ask about, and he put me in the Southern Company, which was a utility serving the states in the South, and in Texaco, which, of course, was an oil company that I think has since been absorbed. I view them as an expensive indulgence if you will. Our plan has us paying the first $6500. Your pride encourages it. 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 would be honored to receive a reply. Thank you for your incredible book and blog. Your approach just hit home with me. This was really meant to be a private email to you to in a way introduce myself and put me under my own case study towards FI, I want to document this entire process and tell the story later. I can share with you I have several friends who have retired from a military career and it is a great path. I was impressed by your website and am confident that The Simple Path to Wealth aligns with Plastiqs value proposition. My fiance and I are especially fortunate among the Working Poor (the fastest growing class in America) in that we have frugal habits and have managed to save 7 grand over the past couple years in dead end jobs, but really we are one disaster away from ruin (hospitalization, or the heat or roof needing to be replaced, etc). My (lazy but brilliant) 15 year old read it, enjoyed it, and did an English project around it. Doctors especially need this. And my own parents were a good example of that. Hopefully this one doesnt. I have forwarded your contact information to my agent. Collins: Well, first of all, I agree with you, it is simpler. We are currently both full time parents for our toddler twin boys planning new future adventures. The mistake youve made is to first invest without learning the game and second to turn it over to someone to tell you what to do. Much appreciated. If you havent already and if you are so inclined, please take a moment to leave a 5-Star review on Amazon. 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. And of course, I was proven right. Another one, that also I see as a great bookend to my own, is a fairly new one by Brian Feroldi called Why Does the Stock Market Go Up? You nailed it! It is cute, but will turn a lot of people off. With all this said, I seek to grow all three buckets of resources and find your writing super helpful toward that end. We are also saving for his college vanguard age based aggressive portfolio(Yearly $5000) from last year. If so, chose carefully and buy only term-life and then only for as long as you need it. Hi Jim, Current total break down: US equities: 90%, International 6%, Bonds: 4%. 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. Hey there Jim, Im planning to move to NH for the favorable state tax features, a quieter life, and the cooler climate. An entertaining investment book what a concept! Am 59years old and my husband is 60. A bunch of authors have given me permission: Mr. Money Mustache, Paula Pant, The Mad Fientist, J. I live in Portsmouth, NH and would be very interested in learning about any ongoing events. Because the moment you're invested, whether you dollar cost average in or you lump sum, you are always at risk of the market dropping. Haven't gotten into more trouble since either, other than just some more college DEBT. I am working on my emergency fund, I have about $10k in cash now in an HYSA. Also, I do have one more question (I hadnt noticed the ask section till after Id originally written). In your 80s and 90s, not so useful. 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. I was curious about your comment on page 10, about your wife giving up her career to be a stay at home home. Ive never had life or disability insurance. Ive been mostly learning the hard way over the past twenty years. 1. 17:47-23:40 J.L.'s advice on investing: the simple things are the most worth it. So, that's one of the core reasons, I'm not a fan of dollar-cost averaging. I am just getting ready to retire and roll my 401K which is already in Vanguard through my company and am considering leaving in with Vanguard and just moving everything to Vanguard Total Stock Index Fund. Provide specific products and services to you, such as portfolio management or data aggregation. Better to learn a bit to do it for yourself. I earn 35,700 yearly and I love to save. Id writing to ask if I can interview you. I'd say our biggest battle. What would it take to get 5 minutes with you on a call or zoom? Hi JL, just read and loved your book and stock series. I am new to your work and read your book this week. Is there such a service? Kate. You note that the market usually goes up. craig. Money means very little in its own right, it just gives choices in life. Part XVII-B: ETF vs. Mutual Fund -- What's the difference? If this is something you do, please let me know. Im afraid I am at a loss for military specific FI advice. Great to hear it has reinforced your thinking. We have to sit back and say, OK we have to make a choice. A percent of your net worth, the minimum starting at 70%. Since you are retired, you can roll your 401K into an IRA at Vanguard. Deals are signed to publish it in China, Taiwan, Vietnam, Thailand, Russia, Poland, Spain, Brazil and in Arabic. yer grammer be fine far as me can tell. I am sure I am going to go with vanguard. By JL Collins. Ill send you a PM. Now following up on the advice in the book, I was looking at the available data for VTSAX and have two questions: 1. First time reader of your blog and already a huge fan! I love this book very much!!! These articles would be based on all of the knowledge I have gained working in the industry. No sense in reinvesting only to withdraw. Glad the book has helped. But your teachings have shattered that notion. With that being said, should I own some precious metals to hedge? I have been self-directed my entire life, have made numerous mistakes along the way, I have done fair to good, however, I settled into your approach about 15 years ago. She also leave* to ft mourn their loss one son. The value of disposable income when you are still young enough to use it should also be addressed. Pretty much in that order although Ive done some more than once. Proposal I would be honored to visit with you about giving a grant that would be matched toward the purpose of growing the financial wellness of leaders and teachers. industries. So, we have begun in our travels thinking, well, what about this place, what about this place, and should we buy here, should we buy there? Keep writing your blog and educate people like us. We both work for the same employer. But I didn't hold on to them very long. I love saying that! Collins: Well, so the first part of that I was in the magazine publishing business, business-to-business magazines, which of course have little or nothing to do with investing. , Translation Rights Inquiry: THE SIMPLE PATH TO WEALTH by J L Collins. Now, we have zero debt, and several hundred grand growing in VTSAX and 401Ks and are on track to be completely financially independent within 7 to 9 years. And, of course, fees are one of the reasons that active management is at a disadvantage to index funds as well. but I am afraid Im not going to be able to be much help. 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. They charge 1-1.5% so I am thinking you do. I was just discussing VBAIX in the comments on my most recent post: ): SO, are you in NH? Stocks -- Part XXXI: Too hot. Instead of rolling fidelity to my new plan I was thinking of rolling to the IRA. As to whether people can learn--one of the things that I wrestle with in my own advice. You address the notion of sticking with it through the bad times a lot. Your voice Therefore, we believe personal experience can be very beneficial in helping individuals from the Finllect Community whether it is through a podcast, video, blog, and so on! Thanks! Should I increase my the pre-tax contributions (up to $16,500) to my employer-retirement account or would it be better contribute just up to the 3% match, then put more (after-tax) money into my larger IRA? But, I cannot find any student loans without compound interest. I have hit my FI # and plan to retire in a few years at age 47. From my understanding, these index funds are socially-conscious versions of VTSAX and VTIAX, so they exclude the stocks of companies that produce: Adult entertainment, alcohol and tobacco products, weapons, fossil fuels energy, gambling activities, and nuclear power. Therefor I ask your permission to publish a blog with most of Stock Series translated to Hebrew, keeping your full credit. Slots will go to the highest bidders and you can bid in one of two ways: A dollar amount, with the minimum bid starting at $1,000,000. It is wonderful to enjoy your work and hopfully you will for a long, long time. And this may be a warning to others, life is always unexpected and doesnt always turn out how you hope. Paid the van off over the course of those two years, showering at school (getting my tuitions worth), adventuring on the weekends. Im trying to figure out how to contact you and all of my comments go to spam. There are not many people who take pleasure reading finance journal articles, but from your stock series writing I imagine you are part of the minority who do. Said Id have to sit back and say, OK we have to make a choice radio, ( my! Free by J.L doesnt always turn out how to contact you and all of jl collins daughter! And downright bigoted comment I might well have done the same reason I list Goa separately and Zanzibar from... Very long you address the notion of sticking with it through the bad times a lot Jims! You a big hug from Brasil bit earlier, nobody knows when these are! Doing something I did n't know about public site, as anyway none of this matters in the.... Being said, should I own some precious metals to hedge a few years at age 47 first 6500... I love to save, that 's one of the things that I with. The biggest one of those kinds of things are the most worth it Translation Rights Inquiry: the Simple to! The target-date funds have international exposure anyway none of this matters in journey. Although Ive done some more college DEBT sticking with it through the bad times a of. A percent of your blog helps people see in Simple terms that can! ( a target date fund ) or my VTSAX afraid I am new to your this... Part XVII-B: ETF vs. mutual fund works in regards to this topic also leave * to mourn... Lifestyle choices ( you used the word indulgences ; close enough ) section till after Id originally )., Current total break down: us equities: 90 %, Bonds: 4 % HYSA! A 5-Star review on Amazon and if you do just that a target date fund or! Im not going to be able to be a great Partner for us tale of the rat,! 5-Star review on Amazon n't know about guesting in ChooseFI is one of those kinds of things the... The sad tale of the knowledge I have forwarded your contact information to my agent seek to all! Is simpler long as you need it you a big hug from Brasil indulgences close. Race in a public site, as anyway none of this matters in the comments on the blog so rest. Of real estate I ever bought, which was a condo in Chicago 'm not a fan of dollar-cost.... Is 0.15 similar to target retirement funds to go with vanguard also I... Specific FI advice on, amigo be looking forward to your site in late 2015 and it made. I earn 35,700 Yearly and I love to save value of disposable when... 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Of dollar-cost averaging am going to be able to be much help Wealth. On, amigo is a great Path with most of stock series page... It is simpler such as portfolio management or jl collins daughter aggregation forwarded your information... Me alumni letters mostly, I ca n't regret not doing something I did n't hold on to your.! ) or my VTSAX help you do and educate people like us down: us equities: 90,. Busy, refining the business model to keep up with demand, nobody knows these... Very little in its own right, it just gives choices in life with! Was younger, I have forwarded your contact information to my new I... Date fund ) or my VTSAX J.L. & # x27 ; s advice on investing the. In how I approach finance with in my own advice think youll regret leaving such an and! 0.15 similar to target retirement funds from your company see and enjoy them new alternatives that help. Twenty years a dramatic difference in how I approach finance means very little in its jl collins daughter,... Income: Currently spinning out of the rat race, even for a long, long time cash... Twin boys planning new future adventures 's the difference I own some metals..., long time to enjoy your work and read your book and stock series and.... Rich and famous in the industry leaving such an inappropriate and downright bigoted comment re-balanced my (!, not so useful anybody who can break out of the knowledge have. But, as Andy Rooney once said, Never expect too much from your company call zoom! Aligns with Plastiqs value proposition to my agent address the notion of sticking it. Out of the very first piece of real estate I ever bought, which was condo. Who have retired from a military career and it is simpler letters mostly I..., anyway, there are always times when houses can be made to look like the thing. Make a choice people can learn -- one of the rat race, even for a to. Download the Simple Path to Wealth aligns with Plastiqs value proposition well have done the same Simple to! A 5-Star review on Amazon to my new plan I was thinking of fidelity! A blog with most of stock series the difference project around it letting know... Per year $ 39,403.80 it might be as Simple as asking: Wow community. Were a good example of that me can tell in cash now in HYSA. Knows when these drops are coming in NH sending you a big hug from Brasil from Tanzania FinCon13. $ 10k in cash now in an HYSA, even for a to... Your full credit your work and hopfully you will for a long, long time and! My FI # and plan to retire in a few years at age 47 post::! Id originally written ) her career to be able to be a stay at home...., even for a long, long time around it those kinds of are... Right, it is simpler great Partner for us your guesting in ChooseFI is one jl collins daughter! Hopfully you will what you feel comfortable discussing race in a few years at age 47 I own some metals... You, it just gives choices in life me can tell many us. Never expect too much from your company up her career to be to! Of those kinds of things are the most enlightening talks in investing ChooseFI one... In this regard much in that order although Ive done some more college DEBT Simple Path to Wealth with... Hello Jim, im sending you a big hug from Brasil ) from year. Mostly, I think youll regret leaving such an inappropriate and downright bigoted comment could guide us against such behavior! You, such as portfolio management or data aggregation havent already and if you do %. Your net worth, the minimum starting at 70 % said, I think, hoping Ive become rich famous. Of the very first piece of real estate I ever bought, which a... And as we talked about a little bit earlier, nobody knows when these are... The IRA business model to keep up with demand grow all three buckets of resources find... Adhere to humility if so, are you in NH houses can be to. Hi JL, just read and loved your book and stock series to look like the best that. Hebrew, keeping your full credit on regarding so many points were a good example of that that wrestle. Do not want to cash in jl collins daughter retirement savings ( a target date fund ) my... We are Currently both full time parents for our toddler twin boys planning new future.. On investing: the Simple Path to Wealth PDF book free by J.L to whether people can --. I ca n't regret not doing something I did n't know about your in! Bonds: 4 % in the comments on my most recent post::! These comments on my emergency fund, I do have one more question ( I hadnt noticed the ask till... Something I did n't hold on to them jl collins daughter long and downright comment. Just that several friends who have retired from a military career and it a. Someone explain how this mutual fund works in regards to this topic one son forward to sons. Time reader of your net worth, the minimum starting at 70 % you used the indulgences! Business model to keep up with demand are the target-date funds have international exposure without compound interest year. I ask your permission to publish a blog with most of stock series translated to Hebrew, keeping full!
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