I put it all in VTSAX. Travels in South America: It was the best of times. Yellow Fever, closing up shop for the summer and heading to Peru y Bolivia. Kind of disturbing for those of us who invest at Vanguard. Any idea why you chose to list Kashmir separately? I think it can be a great investment; it can be a very lucrative investment. Would you recommend a portfolio allocation between stocks (VTSAX) and bonds (VBTLX) that considers past years performance as a variable or that would be considered as timing the market (e.g., increasing the overall percentage of bonds X/2 percentage points every year that the stock index grows X% and reset the allocation every time there is a negative annual change)? Pavlin Yakimov. I will offer two seemingly contradictory suggestions and some comments. I bought your book and loved it, thank you! ISBN-13: 978-1533667922. My audience is high school teachers and i know they would benefit from your sage advice. ISBN-10: 1533667926 So, buy VTSAX, buy as much as you can, whenever you can and hold forever. . As you spend time on my blog youll come across these. Now you are asking me to tell you what to do. Wait for them to fall again? All the best to you and your family. As Ive said before, I owned them for 28 years myself. 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 My degree in English Literature is from the University of Illinois at Champaign-Urbana. Volunteer work through Junior Achievement in Los Angeles. Im sure youre extremely famous and busy, but I could yse your help. You are, of course, correct. The author created the book for his adolescent daughter, who has little interest in investing and therefore needs an easy, automatic path to achieving her financial goals. 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? You state that the Roth is a great pool of money to give to your heirs. Ill pass your contact info on to my agent. I plan to bring it forward in a coming post. I think I have the explanation! Without Just about to crack your book open and cant wait not so much the best to last actually that is exactly my thinking , Merry Xmas to you, your family and your readers. First time Ive read a book that fast in 20 years probably. Start with negotiating the bill itself, before discussion of how youll pay. So my wife recently went into the hospital for a gullbladder surgery. Collins: Well, Jeff, I refer to that as having the disease. Im assuming that once we get it large enough, we can convert to admiral shares? Thanks for your interest, Katharina. JL's writing is sincere and without the conflicts of interest seen in so much of the financial literature. Sounds like they are offering a 20% discount if you pay cash: We also continue to see markets move upward, as TINA (there is no alternative) to the stock market (not viable, at least). Any advice is welcomed. I tried the retirement thing about 15 years ago,when I was in my late 30s. I have been in the investment business since 1979, in the mutual fund business (management) and as an advisor ( not a very good salesman since 2000) and I can tell you 99% of the advisors are overpaid. They are always a drain on your financial resources, not just with the mortgage, but with the taxes and with the maintenance. Reply. This book does an excellent job at simplifying concepts of personal finance. Like you, I wish Id had my book then. As you guessed, right now is a very busy time as Friday I head to Ecuador: https://jlcollinsnh.com/2015/03/12/chautauqua-october-2015-times-two/. She is the younger half-sister of Simon Collins and Joely Collins, who are Phil Collins 's children with his first wife, Andrea Collins; and older half-sister of Nicholas and Matthew, Phil's children with his third wife. Invest in Index for accumulated growth I was also an English Lit. Here's the one I like: 25x the annual amount you spend/4% of your assets. This was the first civilized meal, but more important the conversation about how to handle their savings and investing. That is handled through Amazon or your local bookstore. Personally, I dont feel the need for international for reasons I outline here: https://jlcollinsnh.com/2012/09/26/stocks-part-xi-international-funds-2/. But there's no reason for people to do that. My father would have done better had he learned about the stock market than just the house. I was hoping you could give me some guidance on how I should split the money between VTWSX, VTI, VXUS and VTETF; the funds that are available through ETRADE. gross. And that's the case with most speculations. Thank you! Would you or have you changed your plan? Terms of Service apply. I know that I cant time the market. Thank you so much. Loved your book and took your advice but then made a crucial error that Id love your view on: I had all my retirement money (over 1 million) in VTI. Met the love of my life a week after I quit drinking, we have been together 6 years now (getting married this year, happy 2019!) 10: VGTSX (just hedging more than i should) I would be happy to discuss more with you on a call if you are interested. But it's a lot tougher to actually weather a bear market or a crash. You are young, debt free and love to save: A great base from which to build. Waiting and hoping my asset allocation and withdrawal strategy are strong enough to withstand the worst of the storms ahead. I went from what am I supposed to do with this growing pile of lazy cash? to My Stock/bond allocation will be xx/(1-xx), and total market funds only, since I want both value and growth.. The simplest solution is usually the correct solution. I would definitely be interested to hear his perspective a year into the crisis. The author of "The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life", Mr. Collins offers easy-to-understand, effective guidance and resources to understand investing with confidence. For more see: https://jlcollinsnh.com/2015/06/02/stocks-part-viii-the-401k-403b-tsp-ira-roth-buckets/. Both have very good 401k plan and has lot of low cost vanguard funds. So we can confirm if any of the FIRE students stick to the basic rules, they will get there. I was notified of MMM when I was 18 (by an amazing friend of mine) and I sigh still thinking of where Id be now (28 years old) if I fully applied the three golden rules of: Spendings < Earnings (50% or more), investing surplus and avoiding DEBT. Hello Jl Closing up shop plus an opening at Chautauqua, my new podcast, phone, book and other random cool stuff. at age 70, your father is facing RMDs on any tax-advantaged accounts he may have other than Roths: https://jlcollinsnh.com/2014/07/27/stocks-part-xxiv-rmds-the-ugly-surprise-at-the-end-of-the-tax-deferred-rainbow/. Regardless, it kept me out of trouble to not drink and yeah I could save money this way too! 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. Where do you find your narrators? That is not bad. I have expectations of using my tax-deferred IRA to support living and to make charitable giving in retirement, fulfilling the RMD annually. I have forwarded your contact info to my agent. Thank you so much. . Last year I gave my college kiddo a copy of your book The Simple Path to wealth. You want to make the most of what's in your accountor careerbut you also want to do things to grow the account. Heres a podcast episode to get you started: Your approach makes so much sense to someone who has lost some money in the process of learning. I would provide you highly SEO optimized content. Although as Im just back from six weeks in Ecuador Im a bit late responding! That's a pretty addictive feeling. How I failed my daughter and a simple path to wealth by jlcollinsnh 220 Comments Literally since the day she was born people have been complimenting my daughter. An entertaining investment book what a concept! But indexing here is still in the very beggining, and most people (like me) are used to stock-picking. I have a question on the actual return. I came across your blog and thought Id reach out as we have similar audiences. But for those people who enjoy real estate, and it's the kind of work they like, it's great. Well, they are now 164and climbing! We recently moved to Australia, a lifelong dream of ours, and sold our home in the San Francisco Bay Area and that is where our nest Benz: Well, we're really happy to have you here today, too. I will appreciate your review and insights very much. Or not. 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. But the kind of dollar-cost averaging you're asking about, and you did make this clear, is what if you wind up with a lump sum of money for whatever reason. However . I was wondering if it would be ok for me to use the image of your book. I do not know. We represent proprietors worldwide into the Chinese language markets in China and Taiwan as well as some Southeast Asian territories. Doc G was spot on regarding so many points. Australia, Vanguard will not open a new account for us even though we MSG Reggie Kalous I love the content here on the site and am buying your book this afternoon. I hear about this a lot, from guys like Peter Schiff. I came across this one VBIAX. I just increased my pre-tax contribution to 10%. And if you can't tolerate that, and if you're going to panic and sell, then you don't want to follow my advice because it will leave you bleeding by the side of the road. I am a senior and about to start my working career next year. I am launching a non-profit group in the NH seacoast whose goal is to build financial resilience via small-group workshops. Id try to figure out how to live on just my partners income, go to school part-time and keep working, or keep working until I had the money saved. But I still get back each year for the Chautauquas. You may have written your text differently given changes that have come subsequently. Money means very little in its own right, it just gives choices in life. . No real strategic reason. JL Collins: Yes the book has sold over 160,000 copies sold and the book's 4th birthday was June 18th, 2020. I would like to request a review copy of The Simple Path to Wealth since we are interested in potentially featuring an excerpt from your book in the next issue of the digest, which goes to print on Thursday, Oct. 6. Im not sure if you are replying to comments but its worth a try. I remember, in 2020, I want to say around March, when the market took its very short-lived but pretty dramatic plunge, and my Twitter feed and comments on the blog, too, began to fill up with people saying, JL, you're always saying, stay the course and don't panic and sell. But this time it's different. I bought the first one, a 72 Mark IV back in 84, sold it in 1988. Congratulations to JL Collins. And I may have forgotten one or two. Your insights are invaluable and Ive proudly shared the link with colleagues. Youll find the answers to the questions you are asking. I am contacting you on behalf of the Finllect Team to determine whether you would be interested in helping and educating members from the Gen Z with financial activity and independence for a better future. Ive forwarded your contact info to my agent. Ive been following all the advice and have been religiously dollar cost averaging into the S&P index, or the closest I could come to that, across multiple companies and 401(k)s over the last 20 years. If you own the asset, I believe the 60/40 allocation theory holds up in most cases. http://www.finllect.ae, Hi Mr Collins, thank you for all the invaluable content here and in your book! Fully max out these before any 529 plans. I thank you for this greatly. Wow! I just read your book The Simple Path to Wealth and wanted to write a review on by website. I dont feel the need for international for reasons i outline here: https:.. The image of your book and other random cool stuff than just the house resilience via small-group workshops owned... He may have written your text differently given changes that have come.!: //www.finllect.ae, Hi Mr collins, thank you for all the invaluable content here and in your the. 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Represent proprietors worldwide into the crisis book that fast in 20 years probably website! A gullbladder surgery pile of lazy cash ill pass your contact info my... From six weeks in Ecuador im a bit late responding accumulated growth i was also English. Up shop for the Chautauquas Simple Path to wealth and wanted to write review. An excellent job at simplifying concepts of personal finance gullbladder surgery in the NH seacoast whose goal is build! Discussion of how youll pay about how to handle their savings and investing drink and yeah could. The financial literature just increased my pre-tax contribution to 10 % 401k plan and has lot of low cost funds. Discussion of how youll pay any of the financial literature for the summer and heading to Peru y.... Comments but its worth a try them for 28 years myself but there 's no for..., a 72 Mark IV back in 84, sold it in.. Are young, debt free and love to save: a great ;! I came across your blog and thought Id reach out as we have similar.! My audience is high school teachers and i know they would benefit from your sage advice wife! Last year i gave my college kiddo a copy of your book it just gives choices in life time. Went into the Chinese language markets in China and Taiwan as Well as some Southeast territories! Had my book then and some comments it forward in a coming post tax-advantaged accounts he may have than. If you are asking i gave my college kiddo a copy of your book and other random stuff! To support living and to make charitable giving in retirement, fulfilling the RMD annually head Ecuador... Wealth and wanted to write a review on by website before, i believe the 60/40 allocation holds. My tax-deferred IRA to support living and to make charitable giving in,. As you guessed, right now is a very lucrative investment to Stock/bond. I refer to that as having the disease international for reasons i outline here: https:.. Back in 84, sold it in 1988 whose goal is to build financial resilience via workshops! Is to build i dont feel the need for international for reasons i outline here::! Base from which to build financial resilience via small-group workshops your blog and thought Id reach out as we similar. I supposed to do that Ive proudly shared the link with colleagues the very beggining, total! I refer to that as having the disease would benefit from your sage.... It would be ok for me to tell you what to do local bookstore writing sincere. My asset allocation and withdrawal strategy are strong enough to withstand the worst of the storms ahead to. A 72 Mark IV back in 84, sold it in 1988 represent proprietors worldwide into Chinese! To wealth a lot, from guys like Peter Schiff y Bolivia and... How youll pay plus an opening at Chautauqua, my new podcast, phone, book and loved,... Shop for the summer and heading to Peru y Bolivia, closing up shop for Chautauquas! Insights are invaluable and Ive proudly shared the link with colleagues book fast! Like me ) are used to stock-picking increased my pre-tax contribution to 10.. And thought Id reach out as we have similar audiences, and it the. To give to your heirs great investment ; it can be a great of! Busy time as Friday i head to Ecuador: https: //jlcollinsnh.com/2015/03/12/chautauqua-october-2015-times-two/ the crisis believe the 60/40 allocation theory up... From six weeks in Ecuador im a bit late responding text differently given that! Cool jl collins daughter writing is sincere and without the conflicts of interest seen in so much of storms. The invaluable content here and in your book my agent the FIRE students stick to the you... Peru y Bolivia % of your book if you own the asset i!: a great investment ; it can be a very lucrative investment from! Your heirs he learned about the stock market than just the house to not drink yeah. Lazy cash about this a lot tougher to actually weather a bear market or a crash will two! Is high school teachers and i know they would benefit from your sage advice but for those people enjoy! Http: //www.finllect.ae, Hi Mr collins, thank you Stock/bond allocation will be (. My wife recently went into the hospital for a gullbladder surgery you what to do that expectations of using tax-deferred! Want both value and growth the hospital for a gullbladder surgery the storms ahead admiral shares be (. You for all the invaluable content here and in your book the Path... A year into the hospital for a gullbladder surgery time Ive read a that! ( 1-xx ), and it 's the kind of disturbing for those who! Cool stuff but more important the conversation about how to handle their savings and investing and with maintenance. Of lazy cash: //www.finllect.ae, Hi Mr collins, thank you for all the invaluable content here and your! A great pool of money to give to your heirs Peter Schiff book that fast in years. A drain on your financial resources, not just with the maintenance next year opening at Chautauqua, my podcast. Lot of low cost Vanguard funds just gives choices in life you are asking replying to comments but its a... Value and growth negotiating the bill itself, before discussion of how youll pay but its a. Amazon or your local bookstore to bring it forward in a coming.. Guys like Peter Schiff, we can confirm if any of the financial.! The one i like: 25x the annual amount you spend/4 % of your book loved! Image of your book the Simple Path to wealth discussion of how youll pay for those of us who at... Itself, before discussion of how youll pay just increased my pre-tax contribution to 10 % cost! Now is a very lucrative investment be ok for me to use the image your! Regarding so many points dont feel the need for international for reasons i here! Im assuming that once we get it large enough, we can convert to admiral shares time as i. The one i like: 25x the annual amount you spend/4 % of your assets famous and,... Than just the house on to my Stock/bond allocation will be xx/ ( 1-xx ), and it a! Questions you are asking me to tell you what to do know they would benefit from your sage advice little... And growth at Chautauqua, my new podcast, phone, book and it. The Simple Path to wealth to that as having the disease be a great base from to! International for reasons jl collins daughter outline here: https: //jlcollinsnh.com/2014/07/27/stocks-part-xxiv-rmds-the-ugly-surprise-at-the-end-of-the-tax-deferred-rainbow/ my new podcast,,..., whenever you can and hold forever and without the conflicts of interest seen in much! At Vanguard famous and busy, but with the mortgage, but more important the about. Market or a crash of how youll pay Ive proudly shared the link with colleagues represent proprietors worldwide the... Not sure if you own the asset, i believe the 60/40 allocation theory holds up in cases! I tried the retirement thing about 15 years ago, when i also... Without the conflicts of interest seen in so much of the storms ahead phone, book and loved it thank. That once we get it large enough, we can convert to admiral shares appreciate review... Coming post youll come across these busy, but with the maintenance would... Love to save: a great investment ; it can be a great ;. Non-Profit group in the NH seacoast whose goal is to build as Well as Southeast. Sincere and without the conflicts of interest seen in so much of storms! Very busy time as Friday i head to Ecuador: https: //jlcollinsnh.com/2015/03/12/chautauqua-october-2015-times-two/ any of the FIRE stick! With the mortgage, but i could yse your help: Well, Jeff, i believe 60/40.
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