The Simple Path to Wealth: Your road map to financial independence and a rich, free life PDF AZW3 EPUB MOBI TXT Download

“In the dark, bewildering, trap-infested jungle of misinformation and opaque riddles that is the world of investment, JL Collins is the fatherly wizard on the side of the path, offering a simple map, warm words of encouragement and the tools to forge your way through with confidence. You’ll never find a wiser advisor with a bigger heart.” — Malachi Rempen: Filmmaker, cartoonist, author and self-described ruffianThis 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.Since money is the single most powerful tool we have for navigating this complex world we’ve created, understanding it is critical.“But Dad,” she once said, “I know money is important. I just don’t want to spend my life thinking about it.” This was eye-opening. I love this stuff. But most people have better things to do with their precious time. Bridges to build, diseases to cure, treaties to negotiate, mountains to climb, technologies to create, children to teach, businesses to run.Unfortunately, benign neglect of things financial leaves you open to the charlatans of the financial world. The people who make investing endlessly complex, because if it can be made complex it becomes more profitable for them, more expensive for us, and we are forced into their waiting arms.Here’s an important truth: Complex investments exist only to profit those who create and sell them. Not only are they more costly to the investor, they are less effective.The simple approach I created for her and present now to you, is not only easy to understand and implement, it is more powerful than any other.Together we’ll explore:Debt: Why you must avoid it and what to do if you have it.The importance of having F-you Money.How to think about money, and the unique way understanding this is key to building your wealth.Where traditional investing advice goes wrong and what actually works.What the stock market really is and how it really works.Why the stock market always goes up and why most people still lose money investing in it.How to invest in a raging bull, or bear, market.Specific investments to implement these strategies.The Wealth Building and Wealth Preservation phases of your investing life and why they are not always tied to your age.How your asset allocation is tied to those phases and how to choose it.How to simplify the sometimes confusing world of 401(k), 403(b), TSP, IRA and Roth accounts.TRFs (Target Retirement Funds), HSAs (Health Savings Accounts) and RMDs (Required Minimum Distributions).What investment firm to use and why the one I recommend is so far superior to the competition.Why you should be very cautious when engaging an investment advisor and whether you need to at all.Why and how you can be conned, and how to avoid becoming prey.Why I don’t recommend dollar cost averaging.What financial independence looks like and how to have your money support you.What the 4% rule is and how to use it to safely spend your wealth.The truth behind Social Security.A Case Study on how this all can be implemented in real life.Don’t let any of this intimidate you. Those that have gone before you say:“….in his patented no-frills and often humorous style, JL makes it both approachable and simple. And powerful.”“…effective message told in a visual, funny style.”“…a refreshingly unique and approachable take on investing.”“JL Collins has the gift of making boring financial concepts funny and interesting.”“Instead of esoteric equations about measuring a stock’s alpha and comparing it to its beta, he lights up the campfire and starts telling stories.”Enjoy the read, and the journey!
J L Collins
June 18, 2016
286 pages
File Size: 72 MB
Available File Formats: PDF AZW3 DOCX EPUB MOBI TXT or Kindle audiobook Audio CD(Several files can be converted to each other)
Language: English, Francais, Italiano, Espanol, Deutsch, chinese
These days, I’m a book author and financial blogger on, but it wasn’t always so. I started selling flyswatters door-to-door and picking up empty pop bottles from the side of the road for the 2-cent deposit. Gimme a break. I was eight. My first real job was scrubbing out big metal ice cream cans. I was 13. It paid $1.25 per hour. From there: Busboy, dishwasher, order-puller, grocery bagger, stock clerk, produce clerk and gas station pump jockey back in the day when someone pumped your gas, washed your windows and checked your oil (ask your grandparents). Mail clerk, tree-trimmer, landscaper, ad agency founder, account executive, ad space salesman, investment officer, entrepreneur, consultant, sales trainer, speaker, writer, radio talk show host and magazine publisher. Pretty much in that order although I’ve done some more than once. And I may have forgotten one or two. My work has taken me to most U.S. states as well as Canada, Germany and England. One of my few regrets is that I’ve never had an international posting. But I’ve had the good fortune to see a bit of the planet on my own: Mexico, Canada, Ireland, Wales, England, Greece, Crete, Puerto Rico, Tahiti, Venezuela, Curacao, Scotland, Italy, Germany, Spain, Paris, India, Kashmir, Goa, Nepal, Zanzibar, Tanzania, Eleuthera, St. Thomas, St. Martin, Barbados, Antigua, Martinique, Ecuador, Perú, Bolivia, Chile, Prague, Guatemala, Galápagos. Pretty much in that order although I’ve visited some more than once. And I may have forgotten one or two. I’ve traveled by plane, train, bus, boat, subway, taxi, hired car, motorcycle, bicycle, rickshaw, hitch-hiking, foot, horse, donkey and elephant. Not only traveled by elephant, but herded rhinoceroses by elephant back in Nepal. My degree in English Lit is from the University of Illinois at Champaign-Urbana. They still send me alumni letters mostly, I think, hoping I’ve become rich and famous. I’m working on it. Here’s my favorite cartoon: The visual is two guys in a corn field, up on racks dressed in shabby clothes. Straw coming out from their shirt cuffs and pant legs. They are serving as scarecrows. One is looking over at the other and saying… “English Major. How about you?” A pal of mine once said I had won the family lottery. He is right. My wife Jane and I have been married for 34 years. Our daughter Jessica graduated Summa Cum Laude from the University of Rhode Island. She currently serves in the Peace Corp. <div id="
  • In 2008 I was taking a finance class in college watching the market burn to the ground. After graduating in 2009, I saw Comcast and Starbucks stock selling for crazy low prices from where it had been in 2007 and wondered why these stocks were getting hammered for a real estate and bank crisis, so I bought with the intent to hold. And I made money. I realize now it was riskier then I knew at the time because I didn’t do my due diligence in research on these companies, but for this book to claim the market can’t be beaten is completely false. I held on to these companies for years and smoked the market. I might agree that most can’t do it, but to make a blanket statement that no one except Buffett and a few others near the top is misleeading.
  • Hands down one of the best financial books I’ve ever read or heard about. If I could gift a copy of it to every single graduate, I would. This book is like listening to a sage friend who has endured decades of ‘playing / timing’ the market and concluded there is an easier way. Not only is this friend willing to share the way, it’s is not even a scam or get rich quick scheme. It is a straightforward, achievable process: avoid / eliminate debt, spend less than you earn, invest in low-cost index funds, and then do NOTHING. Simply sit back and wait for the magic of time and compound interest to do the rest. This means you no longer have to worry about the next stock market crash or try to find the next Apple or bitcoin. JL Collins introduced me to the concept of F- You money (which I now call F- Yeah money thanks to About two years ago, when I realized I had F- Yeah money, it transformed the way I approached work. Meetings were no longer stressful, crises of the day seemed ridiculous. A year ago, I moved to part-time. This year, I’m thrilled to report that both my husband and I have just early retired at 45 and 47 respectively. I attribute a lot of this to reading this book. I gave me the facts I needed to believe we had hit our number and would be just fine. Albert Einstein called compound interest is the most powerful force in the universe and the greatest mathematical discovery of all time. I say the knowledge of FIRE (financial independence retire early) gives compound interest a run for its money. Read this book then give it to someone struggling or boasting about this stock or that one. It truly can change your life.
  • This book was a gamechanger. After reading this book, I understand the difference between stocks and bonds (and what proportion of each are appropriate at each financial stage of my life). know what an index fund is (and why they’re superior to picking my own stocks). I finally understand what “timing the market” means and why it’s a bad idea. I know why Vanguard’s VTSAX and its low expense ratio are the best choice. I understand the math behind 8% interest and 4% safe withdrawal rates. These were all terms that I’d vaguely heard of before but now I actually understand and have put into use. My husband and I switched around our allocations (and rolled over some old accounts into Vanguard) and we literally gained a few thousand dollars in interest overnight. I can’t even imagine the impact of those changes a few decades down the road. A must-read!!
  • I read 50-60 books per year on average, almost 50% of those are in the finance realm.This is my single favorite book on finance. After reading over 100 finance books, this is hands down the best one. There are some business books that rival it, but all told its in the top 3 of all time.
  • This book is about how to get wealthy at 60. I want to be financially independent around 30 or 40… This book is not for you if u want to get out the rat race and quit ur 9-5 job. Works for u if u want to be a working bee for the next 30 years
  • JL Collins is essentially a “Boglehead”, and he admits that Jack Bogle is his personal hero. For those of you who dont know, Bogleheads are people who subscribe to Jack Bogle’s (founder of Vanguard) philosophy on investing, which in simplest terms is investing and holding in minimally-managed index funds.There is some redundancy in his chapters, which are really just breaks in conversation, but his overarching message is easy to grasp and accessible for anyone who desires to either retire early or become financially independent. This isnt an “early retirement” book per se, but one could apply these principles (and indeed many do) to generate enough passive wealth to drop out of the rat race. Of course, the other big pieces to the early retirement puzzle are frugal living and debt elimination, which arent the main themes he explores.For me this book was very helpful since I was a relative neophyte to all things investing. Collins has an easygoing, conversational style that is both engaging and instructional; and he de-mystifies (or rather translates) investment lingo to present the fundamental concepts you need to understand.In short, his message is:Eliminate debtUnderstand how the stock market works, and why it is the most powerful wealth-building tool there isInvest in the total stock market index through Vanguard (no he isnt paid by Vanguard)HOLD through the highs and lowsReap the rewards after years of diligenceI recommend it to anyone interested in early retirement or financial independence, especially investing novices. Worth the money spent.
  • Cannot recommend this book enough. I’m ordering copies for everyone I care about. Not only is the path simple, but the writing is fun and easy to read. I never dreamed a personal finance book could fit either of those descriptions. Collins argues, with lots of backup, that the simple way to invest (Vanguard index funds) is also the most effective and profitable way to invest. This book makes the path to financial independence clear and easy to follow. You just need to find the fiscal discipline and psychological fortitude to stay the course. This book is changing my life and giving me a true sense of optimism and security.
  • J. L. Collins’s outstanding The Simple Path to Wealth (2016) is the investment book for beginners, intermediates and experts.Collins’s message is to find financial freedom: the ability to never work again, if you don’t want to, and have enough money “F-you money” that your investments provide appropriate income for you to retire early and live comfortably. The book’s majority focuses on a simple investment strategy. Collins’s simple strategy is all an investor ever need. He also provides clear, pithy advice on how to live, such as “Avoid debt”. Simple yet telling. What surprised me most, and what I benefited from the most, was his reassuring view to the behaviour of investing. He tells the truth at every stage, and doesn’t pull any punches, such as the market will drop, and you will see your investments half. But, as always, he’s the anchor of sanity, and says we need to hold our nerve when that happens, to actually buy more during those downturns and ride out the bad times, as the good times come a lot more often and provide great returns.The highlight here is Collins’s experienced, uncle’s voice. He writes in a way that is friendly and smart. A voice to trust. Collins’s been there, made the mistakes, dusted himself off and seen the light; it’s almost as if he took the hard route in order to pass on his knowledge so that we don’t need to make the same mistakes, and we can follow him on the right path.The Simple Path to Wealth is a rare book that is both thoroughly enjoyable and wise in its teaching. I adored reading every word and learning everything I need to know about investing in the stock market. I’d recommend this book to everyone, but especially people who say, “I know nothing about stocks and shares.” All they need to do is read this short book and follow its simple message. A superb book in a sea of unhelpful, impenetrable finance books.
  • You have to bear in mind that this book was written with U.S. investors in mind, but the principles are the same. (Obviously ignore the chapter on tax as UK rules will be totally different) It’s written in very simple terms and is easy to understand for the non professional investor. It makes you realise you can invest very successfully, very cheaply, and with very little hassle, without having to be an expert, and without having to continually monitor your investments. In fact it becomes quite clear that the less you monitor / fiddle the better your outcome is likely to be.
  • I first heard of this guy after stumbling across an interview he did with ‘Google Talks’ or something like that on YouTube and I really liked his demeanour and straightforward but friendly advice on investing. So I checked out his blog site and ordered the book. As someone who is brand new to investing, it’s really refreshing to read such an engaging book that although is very US-centric in parts, still holds some very valuable information and advice for those starting out or even more seasoned investors. Collins’ style is warm, witty and engaging and I will certainly be revisiting this again.Well worth your ‘investment’ 🙂
  • Amazing book – a thoroughly enjoyable read and the most comprehensive guide to investing and financial independence. JL Collins genuinely wants to impart his years worth of investing knowledge to make life more rich and secure for all. I wish I had read this book years ago, but feel so fortunate that I’ve read it at all. As others have mentioned, it’s very US focused, but the principles hold well and if you follow them your life will absolutely be better off for it.
  • This book’s advice is more or less consistent with personal finance community’s wisdom, but summarised in one short book.The proposed portfolio – 1 ETF for wealth accumulation stage and 2 ETFs for wealth preservation stage – is much simpler than what the majority of people have.The downside is that a lot of specifics the book covers, especially on tax optimization, are tailored to America, but author offers enough guidance that you could implement the same ideas in any other country.
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