“The Simple Path to Wealth PDF Summary” Even kids, broadly speaking, get the drift of what’s going on with the world, and how money is the great influencer. While he is a little more prescriptive in what he advises people should do, and it definitely involves coming to grips with some hard truths, I so appreciate how candidly and simply he. So simple it is concerning how much financial managers profit off our ignorance. Goodreads helps you keep track of books you want to read. The Simple Path to Wealth Review. I remember when I started my first job out of college. It feels nice to be somewhat financially literate now and to know whats ahead of me. I always thought finances, investing and the stock market are an extremely boring topic, and that most things written about it only apply to the US. The Simple Path to Wealth presents the advice from his blog in a coherent, unified package. June 19, 2016 By Al 1 Comment. Rest assured, there is a method to my madness (at least, that’s what I tell Spousal Unit). It is a straightforward, achievable process: avoid / eliminate debt, spend less than you earn, invest in low-cost index funds, and then do NOTHING. I didn’t know the first thing about what a good benefits package looked like. Summary. His accessible, well reasoned investing philosophy provides a clear path to success for every investor. Here’s The Simple Path to Wealth book review as evidence of me doing my personal finance goals homework. Are you fed up with the high fees your financial advisor charges to manage your investments even though she underperforms the market? It should be required reading for all college students. J. L. Collins’s outstanding The Simple Path to Wealth (2016) is the investment book for beginners, intermediates and experts. 21 Comments. We’d love your help. It’s a welcome and refreshing introduction to the topic that even those with experience will get value from. Collins My rating: 4 of 5 stars The reason why this book so great is because 1) It is simple 2) It is prescriptive 3) and the author shows courage to take a stand on achieving financial independence through stock markets. I’ve read many books in my life. Reviewed in the United States on October 28, 2018. The author is insightful and easy to follow along with, even when things start to get a bit technical in later chapters. If you only read one book on personal finance, The Simple Path to Wealth by JL Collins is a solid guide on the mentality and skills that anyone can use to take responsible ownership of their financial future. To calculate the overall star rating and percentage breakdown by star, we don’t use a simple average. Overall I think the advice given in this book is helpful and easy to understand. Thank you to all my subscribers who entered. If you could read just one book about investing and gaining financial independence, it should be this one. If something were to happen to me and I needed to leave one financial tool to my kids, it would be this book. Years later they meet. You'll never find a wiser advisor with a bigger heart." Hands down one of the best financial books I’ve ever read or heard about. Avoid debt save your money invest in index funds which are low-cost and easy to manage. Not extremely helpful for a 40 something with a family. Its perfect for anyone trying to break through the seemingly complex topic of investing. One of the things I don’t cover much is retirement. Book Review. Making your money work for you shouldn’t be complicated and the rationale behind his reasoning is pretty solid. This will be an annual read for me for sure. Pin 2. This gives us quite a bit of financial freedom but also gives us pause: what do we do with our income now? It was straight to the point and offered clear advice. Could it live up to the hype? The Simple Path to Wealth Book Review. The Simple Path To Wealth, by Jim L. Collins, is about investing simply to amass enough money to reach Financial Independence. Over dinner a few months ago, I asked a colleague what should you invest in? Welcome back. Ive now read quite a few books on personal finance and this will likely become my go-to recommendation for family and friends who are looking for an introduction to building wealth. 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. Disabling it will result in some disabled or missing features. As a result, Jim (I’m going to refer to him as Jim since I’ve listened to the audiobook he narrates so many times, I feel like I know him) has become one of the key figures in the FI community. I’ve seen many people describe them as the best series on investing they’ve ever read.It is mostly an investing book (which may limit its attempt to crack the top 5 — see below for comments) but als… He has been an investor since 1975. Let me say this again because I am not just writing these words to sensationalize this post but this book has changed my life and more so my thinking. Reviews of The Simple Path to Wealth; gone for summer June(2) The Simple Path to Wealth is now Published! I finally understand what "timing the market" means and why it's a bad idea. 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. It was straight to the point and offered clear advice. Meetings were no longer stressful, crises of the day seemed ridiculous. 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. So simple it is concerning how much financial managers profit off our ignorance. I am so grateful for J.L. The Simple Path to Wealth is probably the top book I’d recommend if you are interested in long term investing success. It’s a welcome and refreshing introduction to the topic that even those with experience will get value from. I know why Vanguard's VTSAX and its low expense ratio are the best choice. It feels nice to be somewhat financially literate now and to know what’s ahead of me. And I made money. But I wish he would have included more scenarios of people midway through their investing careers. If you would love to read it, try your local library or you can buy it here via my link to Book Depository. Only other book in that category is Atomic Habits. The Simple Path to Wealth (this is an uncompensated review, by the way). Nor does it tell you the way of picking the best stocks that will fly to the moon. Collins, the author (part two of the interview is here ). I’ve dipped my toe into the subject here and there on occasion, but I’ve been content to direct most people to the “Stock Series” by JL Collins. I found it to be a quick read full of thoughtful insights. In a simple, engaging way, Collins shares the basic wisdom you need to make your money work for you, not against you. This will definitely become the go-to book recommendation for friends who ask me for $ advice. Reviewed in the United States on September 7, 2016. Let us know what’s wrong with this preview of, Published It is highly recommended on many of the podcasts I listen to and blogs that I read, and I thoroughly enjoyed this interview with J.L. Well… This book has changed my life. Posted on December 31, 2019 by HopeToRetire. And yes I know he did sort of mention it but more as a blanket statement for all other investing firms besides Vanguard. Read more . Top subscription boxes – right to your door. Simple Path, Fun Writing, Life Changing Results, Reviewed in the United States on January 4, 2018. I'm ordering copies for everyone I care about. I’ve now read quite a few books on personal finance and this will likely become my “go-to” recommendation for family and friends who are looking for an introduction to building wealth. A peek into The Simple Path to Wealth May(1) It's better in the wind. Your investments are then left to grow and/or are called upon to provide income for you.” Most people think of their financial life in terms of age. As for me, it is better to be closer to the monk.”. wealth is a function of time rather than possessions. So, as a non-US citizen, read this book, but know you will also need to find a book focussed on your specific country or do your own research. Reviewed in the United States on May 22, 2019. A must-read!! The author is insightful and easy to follow along with, even when things start to get a bit technical in later chapters. Often, it is ignored and avoided as a topic of conversation, but Jim Collins outlines the basics for anybody interested in taking control of their own financial education. J L Collins starts by explaining that money bring pressure to bear on people, but not all of us … Amassing "fuck you money" has never seemed so possible! 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. I adored reading every word and learning everything I need to know about investing in the stock market. After more than a decade investing, I decided to read The Simple Path to Wealth. The Simple Path to Wealth is a rare book that is both thoroughly enjoyable and wise in its teaching. I’ve been following Jim Collins, who blogs at www.jlcollinsnh.com, for about two years now. I had never heard of JL Collins until Kindle Unlimited was offering his book in September. It’s pretty much the investing for retirement bible.. The Simple Path to Wealth. I’ve been on the FI path for about 5 years so this didn’t have any new information per se, but I still enjoyed reading it and it helped me realize there are still minor mistakes/sub-optimal choices I’m making and need to clean up. If something were to happen to me and I needed to leave one financial tool to my kids, it would be this book. The Simple Path to Wealth by J.L. The Simple Path to Wealth by JL Collins. Read honest and unbiased product reviews … His accessible, well reasoned investing philosophy provides a clear path to success for every investor. Collins My rating: 4 of 5 stars The reason why this book so great is because 1) It is simple 2) It is prescriptive 3) and the author shows courage to take a stand on achieving financial independence through stock markets. You just need to find the fiscal discipline and psychological fortitude to stay the course. This book makes the path to financial independence clear and easy to follow. March 17, 2020 / Tweet. I preferred his series of blogposts on the same topic. This will be an annual read for me for sure. The Simple Path to Wealth: Your road map to financial independence and a rich, free life by J.L. This means you’ll seek the least house to meet your needs rather than the most house you can technically afford. Book Review: The Simple Path to Wealth. The Wealth Accumulation Stage comes while you are working, saving and adding money to your investments. If you really want a simple & effective investment – VTSAX or VFIAX. 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. He really only did one for a 20 something single guy just starting out. by jlcollinsnh.com. If you only read one investing book, make it The Simple Path to Wealth, Reviewed in the United States on January 7, 2017. I never dreamed a personal finance book could fit either of those descriptions. Of all topics we’ve written about on Saving the Crumbs, the one we probably get asked about the most is investing. WHO IS JL COLLINS? The Simple Path to Wealth Content JL Collins is suggesting that, depending on where you are in the wealth building process, you put all of your investable money in the low expense Vanguard Total Stock Market Index Fund VTSAX. 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). However, you will have to adapt the advice about how to use American retirement accounts to whatever the available corresponding accounts are under Indian law. JL Collins really lays this down in the most simple, easy to digest way possible. 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. JL Collins is essentially a "Boglehead", and he admits that Jack Bogle is his personal hero. Every few years it's good to re-read your favourite personal finance book (for me: Overall, this was an excellent read. The Simple Path to Wealth review. We are paying our house off this month and, after doing so, will be completely debt free. It's an easy-to-understand primer on stock-market investing — and financial independence. A simple Path to Wealth: Book Review By The Happy Philosopher in Posts When I heard one of my favorite bloggers was coming out with a book I was very excited, but when I found out I could get an advanced copy and spew my opinion of it on the internet I couldn’t wait to get started. Cannot recommend this book enough. Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. Collins lays out complicated things, like investing, into very simple terms and makes it easy to understand. I had never heard of JL Collins until Kindle Unlimited was offering his book in September. The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life. I find I agree with most of his thinking. Save half your money, avoid all debt, and invest in vanguard index funds.what irritated me about this book is there is no plan if you're older if you've never been able to save money because you couldn't afford it and you started investing late in life and don't have a lot of time to save for retirement. Good but still missing some info and a little bit unrealistic. Fantastic book on indexing and financial independence. Read this book if you want to get your personal finances in order. Book Review: The Simple Path to Wealth by JL Collins. Book Review: The Simple Path to Wealth. The Simple Path to Wealth: Your road map to financial independence and a rich, free life. Solid book on investment and portfolio building. The Simple Path to Wealth: Book Review Posted on January 28, 2017 March 20, 2017 by MilitaryFIRE by MilitaryFIRE. Help Wanted: The Book March(1) So long story short I reached out to my network and to my surprise, even with all the varying opinions and styles, everyone came back to me with a unanimous suggestion: “Read The Simple Path to Wealth.” So I added it to my list of books to read in 2018 and decided it had to be #1. I definitely didn’t understand the concept of a 401k, let alone how to invest in one. Save half your money, avoid all debt, and invest in vanguard index funds.what irritated me about this book is there is no plan if you're older if you've never been able to save money because you couldn't afford it and you started investing late in life and don't have a lot of time to save for retirement. I love everything he teaches and follow it closely. Here is the simple path to wealth book review: I really enjoy this book and would highly recommend it to anyone who wants to become wealthy in the simplest way possible. This might work for a single person or a couple with only one child like he has but not for most people. If you answered yes to any of the above questions stop reading this review and buy and read this book immediately - you will not be disappointed. I really enjoyed this. The Simple Path to Wealth contains a first section I will convene in denominating behavioral and another part with technical investment information. The Simple Path to Wealth by J.L. As with a lot of these book, it is really great, but if you are not based in the US it will leave you with some questions as to how you do the equivalent in your own country. The Simple Path to Wealth by JL Collins. 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. Ship This Item — Qualifies for Free Shipping Buy Online, Pick up in Store Check Availability at Nearby Stores. April(3) Cool things to check out while I'm gone; Stocks — Part XXIX: How to save money for college. I enjoyed this and it's coming at a good time in my life :) I listened to this on Audible and enjoyed the narration as well. I have a long list of things I love about retirement (of course) and consistently near the top lies “the ability to stay up as late as I want whenever I want.” If I find a book that’s engrossing, I can finish it – no delayed gratification like those annoying cliffhangers on television. The Simple Path to Wealth: Your road map to financial independence and a rich, free life. The Simple Path to Wealth: Book Review Posted on January 28, 2017 March 20, 2017 by MilitaryFIRE by MilitaryFIRE I’ve been following Jim Collins, who blogs at www.jlcollinsnh.com , for about two years now. Hands down one of the best financial books I’ve ever read or heard about. View All Available Formats & Editions. The best we can scrape up is around 15% even if I stopped giving the 10% that would still only give me 25%. The Simple Path to Wealth Portfolio is precisely that. Very America finance focused, but that was disclaimed beforehand. Each topic is laid out in a very basic and straightforward way. The Simple Path to Wealth by JL Collins. Refresh and try again. The only catch is that he is an American writing for Americans, about US products, rules, and situations. 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. Book Review: The Simple Path to Wealth. 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. December 4, 2017 June 10, 2019 / salaryoptional. I used to have to listen to Remy and Tim and Mitch and Jeremy bang on about investing while I was trying to actually create something beautiful while painting at the dining table instead of the absolutely pointless, complex, exclusive, cold, unsexy, fairytale money. There's a problem loading this menu right now. Now I have read a book about it. This book helped to reaffirm and clarify my personal financial values. The Simple Path to Wealth can be summarized in these simple steps: Avoid debt. If you would love to read it, try your local library or you can buy it here via my link to Book Depository. I liked the author’s podcast interview by the respected, data-driven and the whimsical Mad Fientist. The last novel I read was probably required reading during a high school literature class. Prime members enjoy FREE Delivery and exclusive access to music, movies, TV shows, original audio series, and Kindle books. “There are many things money can buy, but the most valuable of all is freedom. The Simple Path to Wealth For the same reason I’ve been linking JL Collins’ Stock Series to friends and family for the past couple years, I would recommend you to pick up this book. I read his blog from beginning to end once and then just his Stock Series a second time. Overall, this was an excellent read. I came to very much the same conclusions but it took me almost forty years and tens of thousands of dollars of so called financial planner fees to get there. The book provides a cohesive and complete framework for how to get started in the world of investing, making this a perfect read for investing beginners or anyone daunted by the ocean of investing information out there. I recommend for anyone interested in starting their investment journey or anyone looking to simplify their investment approach. About two years ago, when I realized I had F- Yeah money, it transformed the way I approached work. Making your money work for you shouldnt be complicated and the rationale behind his reasoning is pretty solid. May 29, 2020. Simply sit back and wait for the magic of time and compound interest to do the rest. In line with JL's simple approach, here's my simple book review on The Simple Path To Wealth Click To Tweet If you have been struggling with a desire to manage your finances, but have felt overwhelmed at the prospect, this book is for you. It is written in plain enough language that even those with limited experience in investing can understand. Do you think you might be able to build wealth more easily by doing a few simple things yourself? Financial literacy is so often taken for granted. Find helpful customer reviews and review ratings for The Simple Path to Wealth: Your road map to financial independence and a rich, free life at Amazon.com. Having read JL Collins’ The Simple Path to Wealth, and his rationale for a 100% stock portfolio in your early-to-mid career years, I was confident with my answer, and it was reassuring to hear the experts speak affirmatively.. My dentist friend from Debt Free Dr has also read the book, and today he shares his review and overview. It would be helpful if he went through the top 20 investing companies and had a list of their index funds and bonds to buy if you can't buy Vanguard. After viewing product detail pages, look here to find an easy way to navigate back to pages you are interested in. His philosophy is mostly Money Boss-ish: Avoid debt. It’s perfect for anyone trying to break through the seemingly complex topic of investing. I had no idea what a Roth IRA is and this just blew my mind. Seeking to help, he says: “You know, if you could learn to cater to the king, you wouldn’t have to live on rice and beans.” To which the monk replies: “If you could learn to live on rice and beans, you wouldn’t have to cater to the king.” Most all of us fall somewhere between the two. D.J. The kind of person who reads this book is asking themselves if they will be able to retire a millionaire in their 30s or if they will have to wait until their 40s. You can still see all customer reviews for the product. He recommended I read this book and goodness I wish I had sooner. ...half of our income seems impossible!!! I understand the math behind 8% interest and 4% safe withdrawal rates. With this book, JL Collins cements his status as a pillar of the personal finance world. Your recently viewed items and featured recommendations, Select the department you want to search in. “The Simple Path to Wealth Quotes” You own the things you own and they in turn own you. Great book, but most of it applies to US citizens. Reading The Simple Path to Wealth was part of my 2020 personal finance goals . The Simple Path to Wealth - Book Review The Simple Path to Wealth by JL Collins The Simple Path to Wealth is an easy to read book that outlines one of the best plans to get to financial independence that I have seen. Thank you Mr. Collins! Collins lays out complicated things, like investing, into very simple terms and makes it easy to understand. Top critical review. That said, if you are completely green to the topic, you will likely still want to do some of your own basic orientation to the differences between managed mutual funds, index funds, and the differences between stocks and bonds. WHO IS JL COLLINS? Some insights from the book include partnering with Spirit or CSO as she calls it. He has been an investor since 1975. It’s not every day you receive an advanced copy of a book on building wealth and are then asked to read and publicly review the book. I read 50-60 books per year on average, almost 50% of those are in the finance realm. Have you ever been paralyzed by indecision while deciding how to choose the best investments in your 401k? $19.99. I absolutely loved this book. [Book Review] – The Simple Path to Wealth. Kind of useless book if you're not freshly out of college. • think long-term • live below your means His simple, direct, and low impact investing style has changed how I invest. - Avoid fiscally irresponsible people and do not marry them. I am not in debt and live very conservatively but with 3 girls and a daughter headed to college and giving 10% of our income to charity. I gave me the facts I needed to believe we had hit our number and would be just fine. I'm absolutely hooked! Those who can learn to live frugally can reach this stage much earlier. I support self-published financial authors because the traditional publishers deploy editors to tweak the author’s voice, and original story, to make the final “processed” book more sellable. Collins advocates a self-directed approach to investing (and money management, in general). Save half of your income. The Simple Path to Wealth (book review) “The Simple Path to Wealth” is the book by Jim Collins, that compiles and re-organizes everything in his Stock Series posts from the blog he started few years ago to teach his daughter about finances. A year ago, I moved to part-time. Find helpful customer reviews and review ratings for The Simple Path to Wealth: Your road map to financial independence and a rich, free life at Amazon.com. If you’ve read JL Collins’ Stock Series, much of The Simple Path to Wealth will seem familiar, if not more refined. Why it 's good to re-read your favourite personal finance into a very Simple terms and makes it easy understand! Flipping a dollar, I talk about spending that hard earned eBay profits manage finances. Written it in the most Simple, yet practical and easy to digest investment advice they catch,. 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