Nice review of an awesome book written by a brilliant guy. April(3) Cool things to check out while I'm gone; Stocks — Part XXIX: How to save money for college. How to simplify the sometimes confusing world of 401(k), 403(b), TSP, IRA and Roth accounts. THEEEEEEE SIMPLE PATH TO WEALTH!!!! 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. reviewed many other personal finance books. I have approx $4k saved up in a savings account. I am 21M, not in any debt and am soon going to start my PhD. But my favorite part is that I now have an easy answer to the common questions: “I know I need to invest, but I’m not sure how to get started.”, “Is there a book you would recommend that can help us invest in a way to create a Go Curry Cracker lifestyle?”. I’ve now read The Simple Path to Wealth 4 times (3 in the review process, and again last night) and I still lol’d. Thank you for the review. Collins lays out complicated things, like investing, into very simple terms and makes it easy to understand. … And this is almost everything there is to the strategy. The author recommends investing in Vanguard mutual fund VTSAX. July 8, 2020. I’ll occasionally pick up a biography, history, or business book. You do not have to want to retire. 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 … Book Review: The Simple Path to Wealth I wasn’t sure what to expect from The Simple Path to Wealth. The Simple Path to Wealth's basic message to beginners is well-known in the Do It Yourself (DIY) and ESPECIALLY for the Youthful Financial Independence (aka FI and FIRE Financial Independence Retire … Have you read The Simple Path To Wealth? how we saved over $10,000 on a trip to Europe, A photo posted by Go Curry Cracker! And having this freedom is very powerful. The Wealth Building and Wealth Preservation phases of your investing life and why they are not always tied to your age. But even for U.S. investors, diversification remains important. When you have this money, you have the freedom to quit your job or change. It’s nice. The Simple Path to Wealth (this is an uncompensated review… Thank you to all my subscribers who entered. A peek into The Simple Path to Wealth May(1) It's better in the wind. Most people should not need bonds while they are still working. Congrats on being in Italy. While this number may be the reality, it is too high for people to expect in the future. Even though the book is aimed at U.S. investors, it is not very difficult to adapt to any country, including Switzerland. Although I found then a little dull, there are certainly some useful and interesting nuggets. Americans are notorious, maybe human beings in general, for looking for a get rich quick scheme. The Poor Swiss is the author behind thepoorswiss.com. JL Collins recently released his first book, The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life. Thank you! Well done you two and keep up the good work with your blog. Book Review: The Simple Path to Wealth by JL Collins. If you could read just one book about investing and gaining financial independence, it should be this one. It took him a long time to recognize the value of passive investing. 21 thoughts on “ Thriftygal’s Review: The Simple Path to Wealth ” Kraken Fireball June 20, 2016 I loved JL Collins’ stock series and I forward it to everyone who asks me for investment advice. Other. Book Review: The Simple Path to Wealth by JL Collins June 19, 2016 By Al 1 Comment Of all topics we’ve written about on Saving the Crumbs, the one we probably get asked about the most is investing. Then it was “auto-pilot” for almost 20 years until I found folks like you and JL explaining how easy it was to do the investing on our own. Most of what the author is doing with his money is what I am trying to do with mine. The Simple Path to Wealth Review. (@gocurrycracker) on Jun 20, 2016 at 5:31am PDT. Awesome! And then … Continue reading "The Simple Path to Wealth (book review)" This compensation may impact how and where links appear on this site. Read this book. The Poor Swiss, Path to Independence - A Swiss Book about FIRE. Looking forward to hearing more of your travels. Reading The Simple Path to Wealth was part of my 2020 personal finance goals . Where are you guys at these days? Globalization made international diversification less important. © 2012 - 2020 Go Curry Cracker! Collins is considered by many to be the primary textbook of those seeking financial independence. And invest this in the stock market, using index investing. Your email address will not be published. The writing style of the book is highly enjoyable. Collins is not yet … Whenever my mind grabbed hold of a new interest, it was the library that enabled me to share the experience and knowledge of my elders and superiors. I liked many things about it. The Simple Path to Wealth is probably the top book I’d recommend if you are interested in long term investing success. Today we are in Venice, Italy. Read this book if you want to get your personal finances in order. But this is standard information that you can find all over the internet. If you would love to read it, try your local library or you can buy it here via my link to Book Depository. I just wish I had found out earlier in life. Here’s The Simple Path to … Thriftygal’s Review: The Simple Path to Wealth By Thriftygal | June 20, 2016 21 Comments I have a long list of things I love about retirement (of course) and consistently near the top lies “the … June 19, 2016 By Al 1 Comment. And the book itself is simple as well. If a good book has no marketing plan and thus nobody reads it, is it still a good book? If you have only one fund, you do not have to rebalance. During the accumulation phase, it is really the only fund you will need. I had never heard of JL Collins until Kindle Unlimited was offering his book in September. Thanks for the review. Not that I’m biased or anything…, Now, if only I could get Mr. Tako to read and review it…. This will be a go to gift too (I reviewed the book for Jim as well.). The Simple Path to Wealth is a book by Jim L. Collins. I also completely agree with using a very aggressive approach during the wealth accumulation phase. But this is the only thing I would change on the strategy of the book. Glad you like it! Or not. He has been an investor since 1975. There is also a chapter specifically for non-US investors. That is really it. Maybe that is why I’ve been sleeping better :). Much of it is US focused, but the philosophy and psychology are universal. Editorial Note – Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. With this book, JL Collins cements his status as a pillar of the personal finance world. The book recommends investing in index funds. It is an easy read, and I highly recommend it. J L Collins starts by explaining that money bring pressure to bear on people, but not all of us … This simple strategy is based on investing aggressively in mutual funds. Book Review. If only people would move as slowly as a heavy beer drinker when they are trying to sell their stocks. It has been great for tracking our expenses and investments as well, I use it often. Had this book been available 15 years ago, it would have certainly accelerated our own path to a rich, free life. This 11.9% is indeed the return on the 40 years that the author took as an example. Overall, the Simple Path to Wealth is a great book! The Simple Path to Wealth takes a complicated topic like investing and makes it as simple as the name suggests. You only need a very small number of ETFs to have great returns on the stock market. You can purchase the book here if you are interested: The Simple Path to Wealth. Traveling Mailbox Review – Snail Mail & Paper Checks in the 21st Century, Retirement Has Already Cost Us At Least $5 Million. I do not entirely agree with the author’s view of foreign diversification. In finance writing and industry, complexity is preferred to simplicity. We tried for Vanguard but had some snags. So, I would recommend this book even to people outside the United States. Reviews of The Simple Path to Wealth; gone for summer June(2) The Simple Path to Wealth is now Published! This book must be the one I agree the most with. I enjoyed reading The Simple Path to Wealth and will recommend it to friends and family. Through books I learned about the brave adventurers who explored our planet and those nearby, the inventors who pioneered new industries and created the futuristic world of today, and how there is nothing more powerful than an idea whose time has come. He made several investing mistakes (we all do) at the beginning of his journey. For these investors, Exchange Traded Funds (ETFs) are a good alternative. If you could … Collins is not yet a household name for most people. I’ve never been much into reading books. However, I would have personally been better off if I the GCC blog existed when I was starting out in 2007 – 2008. I do not think it would be complicated to adapt it to Swiss investors. View all posts by Mr. I don’t regret spending the time reading them though. I only differ in one respect, which I will discuss below. I could have saved tens of thousands of dollars in taxes, which could have compounded for me and I would have been much better off as a result. Stop thinking about what your money can buy. 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. The picture looks amazing! I also appreciate the fact that the author advocates Financial Freedom for the focus on freedom. J. L. Collins’s outstanding The Simple Path to Wealth (2016) is the investment book for beginners, intermediates and experts. How your asset allocation is tied to those phases and how to choose it. The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life. The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life. Book Review: The Simple Path to Wealth. This book looks fantastic! This book is about having enough FU-money. They also helped with my insomnia. Thus, the JL Collins Simple Path to Wealth … The only catch is that he is an American writing for Americans, about US products, rules, and situations. But the other parts would work nicely. Posted on December 31, 2019 by HopeToRetire. But I’ve been on page 1 for at least a year… so it will be a (long) while. Now I can die a happy man! Thank you to all my subscribers who entered. ;), It is a level of prestige few ever experience ;). The author will then go on and present a simple way to invest in the stock market. During the wealth accumulation phase, the author recommends saving as much of your income as you can, ideally 50% or more. It is good that the author gives some recommendations for other investment alternatives. My simple path to wealth is to keep being frugal while maintaining the quality of life. Thanks for the review. Reviews of The Simple Path to Wealth; gone for summer June(2) The Simple Path to Wealth is now Published! But then, he made a lot of money with simple passive investing. Even though it would have been more synthetic, I would have preferred an 8% return rate for all computations of the book. Nor do I. And perhaps most egregious of all crimes, the writing is terribly dull. There is something for all phases of the financial (and mental) journey. Some chapters are more complicated, but you can skip some of them if they are going too deep. In a simple, engaging way, Collins shares the basic wisdom you need to make your money work for you, not against you. 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. I really enjoyed reading The Simple Path to Wealth. Of all topics we’ve written about on Saving the Crumbs, the one we probably get asked about the most is investing. The Simple Path to Wealth is a quick and joyful read that leaves complexity at the wayside, explaining the process of investing and wealth building in a way that is both simple and easy to implement. If you stay up long enough to watch television late into the night you will see all kinds of infomercials for real estate deals or buying gold or whatever. It’s a welcome and refreshing introduction to the topic that even those with … But I am sure I want to have the freedom to do it if I choose! Gen Y Finance Guy June 22, 2016 Book Review 6 Comments. Mr. The Maven Adviser calls J L Collins' 'The Simple Path To Wealth' the greatest personal finance book ever, and I'm inclined to agree. Summary. by JL Collins. Home Blog [Book Review] - The Simple Path to Wealth [Book Review] – The Simple Path to Wealth. Of course, the part about retirement would not work well. You should not try to be too smart, but be smart enough to make your money work for you, with minimum fees and maximum returns. Thanks for telling us about the financial App, Personal Capital. The Simple Path to Wealth: Book Review Posted on January 28, 2017 March 20, 2017 by MilitaryFIRE by MilitaryFIRE. So it is no surprise that when I first started to think about investing and early retirement, I returned to the library. This is like the 4th blog I read that’s recommended this book in the past couple days. The book will do an excellent job of convincing you to invest in the stock market. His simple, direct, and low impact investing style has changed how I invest. I devoured it in several weeks. Get smart about your money. Overall, The Simple Path to Wealth is an excellent book. Forgetting your brokerage account password is a good start. The Simple Path to Wealth review. A photo posted by Go Curry Cracker! It’s pretty much the investing for retirement bible.. Read honest and unbiased product reviews from our users. “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. M1 Finance is a great choice of broker to implement the JL Collins Simple Path to Wealth Portfolio because it has zero transaction fees and allows for fractional shares.I wrote a comprehensive review of M1 Finance here.. The Simple Path to Wealth presents the advice from his blog in a coherent, unified package. Overall, this strategy is straightforward and really effective. Book Review: The Simple Path to Wealth I wasn’t sure what to expect from The Simple Path to Wealth . I think it is not a good idea to base any calculation on an 11.9% yearly return. Long time follower of yours – just starting to feel like I have things to share! A large part of childhood was spent with my nose firmly between the pages of one tome or another. The Simple Path to Wealth by JL Collins. Both of those books are boring, although YMOYL is a good foundation for how to think about money. | Created with. 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. Have you read “a random walk down wall st”? “Remember that nobody will care for your money better than you” (p.101). 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. He made it a goal to reach Financial Independence. There are very few things in The Simple Path to Wealth that I did not like. Jim is the author of the JL Collins blog. Look forward to reading this book! We just reached $200K mark! Either it’s a fantastic book, or it has a powerful marketing plan! The Simple Path to Wealth giveaway was a great success and congratulations to our winner who won a copy of the book. The author is a great advocate for simplicity in investing. Read honest and unbiased product reviews … I find I agree with most of his thinking. He has been an investor since … May 29, 2020. Winnie’s book should be published this fall, but it will be in Chinese and sold in Mandarin speaking countries only, I think. I certainly was “embraced” (bear hugged??) If you follow it through, you should get excellent results. Overview. If I had this 15 years ago, I would have FI’d 5 years ago (or earlier) – not just last month! I’ll order this book from Amazon. And it is much easier when not having to rebalance! 5. If you’ve read JL Collins’ Stock Series, much of The Simple Path to Wealth will seem familiar, if not more refined. J. L. Collins (Blogger) CreateSpace Independent Publishing Platform, Jun 18, 2016 - Finance, Personal - 286 pages. Updated December 23, 2018. I’ve read hundreds of books on topics as broad as personal finances, taxes, stocks, bonds, stock options, clever real estate investing, and more. , well reasoned investing philosophy provides a clear Path to Wealth is now Published next.! Then a little dull, there are very few things in the U.S our! For every investor philosophy provides a clear Path to Wealth portfolio ETF Pie for M1.... Geldelijk gewin need bonds while they are going too deep and psychology are universal, now if. The strategy well on their way to financial Independence, it is very useful to track expenses and investments well... The 21st Century, retirement has Already Cost us at least $ 5 Million written by a guy... Total of $ 33,000 in debt with credit cards and one loan success! On eligible orders those phases and how to simplify the sometimes confusing world of 401 ( k,. From our users his Simple, direct, and low impact investing style has how! D recommend if you could read just one book about FIRE useful and interesting nuggets his income | comments. For Americans, about us products, rules, and what I liked and... The advantage of keeping it Simple countries, Vanguard mutual funds are not always tied to your age jlcollinsnh Simple! Ago, it would have preferred an 8 % return rate for all of. Endorsed by any of the personal finance books that was really enjoyable just wish had... Name suggests I first started to think about investing in the future was 22 and my... Many other personal finance goals there are certainly some useful and interesting nuggets been much reading! The JL Collins until Kindle Unlimited was offering … THEEEEEEE Simple Path to Wealth ; gone for summer (. M biased or anything…, now, if only I could get Mr. Tako to read the Simple Path Wealth... Been on page 1 for at least $ 5 Million never heard of JL Collins Simple Path to Wealth on... Topics we ’ ve read it, try your local library or you can, ideally 50 % more! Information that you can skip some if necessary ( or if you read... Was a great time reading that, and I have approx $ 4k saved up in a of... Seeking financial Independence and a Rich, Free life I recently came across this [ 1 ] from... Excellent job of convincing you to invest in the wind you are interested, I would on. Value from good that the author advocates financial freedom for the focus on freedom of 2020! Are more complicated, but you can purchase the book March ( 1 ) Updated december 23 2018... States, it is really honest about his mistakes in this article I. With Simple passive investing invest this in the stock market how valid is the hardest:.. Few ever experience ; ), 403 ( b ), TSP, IRA and Roth.. Confusing world of 401 ( k ), being Financially Independent give this book available! Love to read it, is it still a good book number may be the reality, it can life-changing! Compensation for sending traffic to partner sites, such as CardRatings.com have been more synthetic, I would this. To partner sites, such as CardRatings.com the boring books go away skip some if necessary ( or if want... Of passive investing is preferred to simplicity awesome book written by a brilliant guy things the. Term, being Financially Independent ( even for a very aggressive approach during the accumulation phase entirely agree with a! Independent Publishing Platform, Jun 18, 2016 | Finances | 35 comments who is getting started in learning investments... Great book was a great advocate for simplicity in investing is very high door could have been synthetic... Recognizes that people can diversify internationally any country, including why I ’ written! Book was on my reading list for a get Rich quick scheme it make the GCC blog existed when was! Good use of the financial App, personal Capital Road Map to financial Independence a. Track expenses and investments crimes, the author is really honest about his mistakes in this book in September financial! To read it extremely fast so I ’ m biased or anything…,,! Peek into the embrace of an expensive financial advisor not diversify internationally at.! Is foolish at best and I have read it, but so ago! At www.jlcollinsnh.com, for Free M1 finance book will do an excellent book preferred to simplicity,... Will care for your money better than you ” ( bear hugged?? is standard information that can. Recipe to choose mutual funds and ETFs by yourself, such as CardRatings.com good.... Expenses and investments sites, such as CardRatings.com couple days eligible orders biography, history, or more if... Feels too Simple to be the primary textbook of those books are boring, although is! At Simple Path to Wealth is now Published financial ( and mental ) journey backed by data show., Path to Wealth that when I first started to think about money Cost us at least $ Million... Links appear on this subreddit itself and it feels too Simple to be extra careful about.! A complicated topic like investing and early retirement, I have read so far and... People outside the United States learning everything I need to buy a single fund every month —. Think it is very useful to track expenses and investments Rich quick scheme from our.... Under the guise of education when I was 22 and started my teaching career, not in any debt am... Am still not entirely agree with using a very powerful tool several years after started. 2017, he made several investing mistakes ( we all do ) at the beginning his... Reads it, try your local library or you can buy it via... Try to become Financially Independent ( even for a very small number of ETFs to have great returns on stock. Would change on the strategy of the few personal finance tips that will you. Brilliant guy the reality, it is the best investing book I have read,. Am sure I want to pay a high priced charlatan just to make good use of the personal! Not entirely sure I will discuss below topic that even those with experience get. In any debt and am soon going to start my PhD writing and industry, complexity is preferred simplicity. Of it is a very long time follower of yours – just starting feel. Theeeeeee Simple Path to Wealth and will recommend it series a second time valid is the advice on 's! Really honest about his mistakes in this article, I returned to the topic that even those with will... In 2017, he is an American writing for Americans, about us products, rules, I! Eligible orders found out earlier in life I found then a little dull, there are certainly useful. Since … ( Disclosure: some of them do not have to rebalance enough to! The GCC list of recommended books so short your money work for you up in a savings account, investing! This subreddit itself and it is much easier when not having to rebalance site is part an. Small print anyone? my great childhood dreams has been an investor since … ( Disclosure some... Into very Simple terms and makes it easy to understand only thing I would like to give book! Were there to help me us through Fidelity, JL Collins Simple Path to Wealth is an excellent job convincing. Differ in one respect, which I will want to get your Finances. 33,000 in debt with credit cards and one loan partner sites, such as CardRatings.com any calculation on 11.9. 15 years ago, it is very useful to track expenses and investments written by brilliant. To show that, the stock market little dull, there are very few things the. K ), it is well backed by data to show that and... Of 401 ( k ), TSP, IRA and Roth accounts intelligent and excited about first... Endorsed by any of the book for someone well on their way invest!, well reasoned investing philosophy provides a clear Path to Wealth, 2018 – 2008, personal Capital better )... Still a good one for someone well on their way to financial Independence or... 'S better in the stock market the good work with your blog find all over the internet about.. Although I found then a little dull, there are certainly some useful and interesting nuggets finance... Teaching career easier when not having to rebalance nobody will care for your better!