Do you think the silver lining for them will be that it will prove pivotal to their future successes as it was to you? Anyhow, I really want to go to school and the ROI for school is awesome (easily 120K+ yearly once out), but cannot afford tuition. If you can buy them commission free and if you can resist the urge to trade, they work just fine. And one of the reasons is that I look at it, and I say, well, if I were going to buy an individual stock, that I'm not going to put more than 5% of my net worth in it. The theory was more adventure filled lifestyle of course #vanlife but the financials were that we were currently paying ~$1000/month in rent and were planning on two more years of it! Then Your Money Or your Life. I am posting this in the hopes youll share some wisdom for their situation as I have purchase your book for each of them as a holiday gift. If I understand you correctly, you want to know if you can take money from your 401K and invest it in RE. Provide specific products and services to you, such as portfolio management or data aggregation. Not only traveled by elephant, but herded rhinoceros by elephant back in Nepal. And I think it's certainly a great book for African Americans to read but a great book, I would say, for anybody who was thinking about following a path like this and is wondering, Is somebody with my background that doesn't feel like it's typical, can I really do this? So, that's another one. This is Paul from downunder (Australia). Ptak: I wanted to shift over to real estate if we could. If you dont have time I can always use quotes from your website and a link back to your site, that would also be helpful. My wife and I, along with our 3 children started on a journey 7 years ago through a happenstance of fate to simplify and live more intentionally. If you total living expenses is 13,000 per year then you multiply 2513,000 = 325,000. the second way, With the same samples, If you have $1,250,000 then you just multiply by 0.04. THANK YOU! I forced myself to a financial learning journey 10 years ago and I wished I found your blog much earlier but then again better late than never. JL Collins is one of the best financial bloggers on the web. Im Mike and Ive been on a bit of a mission to educate myself financially over the last 9 months or so. Just called Vanguard Australia and they dont have it here, so I was wondering if you could guide me on this. Finance But my bigger objection to it is that it's not a very effective financial way to build wealth. He just kinda dropped away and I assume is too busy lacking ambition to write any more on Lacking Ambition. Well, you are here now, and I have 220 notes of advice to process and implement. You can imagine how I felt once I really began to understand compounding. Therefore, I would think that it might be more advantageous today to consume the ROTH for living in retirement, and instead plan to give the taxable money to ones heirs. Thank you. What were the things that made you want to communicate what you had learned? Ill answer them as best I can and maybe it will turn into a Case Study post! I was using my student loans to essentially not work and realistically I bought more beer than I did course books and went out for fancy meals. Thanks! Heres an archive showing my previous 100+ guests: https://www.ngpf.org/podcasts/. I finally found you because Chris foound Fritz- The Unholy Alliance is reunited! Thanks for it all! I was wondering if it would be ok for me to use the image of your book. Which of those things is more likely? Just getting into investing, though. Thanks so much for providing your wealth of knowledge to all of us! You can't become wealthy if you spend every dime that comes into your possession. 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. Anyway,I envy anybody who can break out of the rat race,even for a while.Kudos to you.Rock on, amigo! Thank you so much for not only sharing your strategies, but for making people like me actually understand it. Podcast? And I've started working on or thinking about a new post where I'm going to list some of the key books that I like. Would it make sense to take the lump sum of $200,000 and receive $39,403.80 per year pension or leave the lump sum in and receive $56,042.88 per year? And kudos to him for being open to it. So here's what I have come up with: I will share this system with 20 individuals and those slots will be offered by auction. Wed love to work together. 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 That is really the only way active management can outperform the index over time. The stock series kind of grew out of that. Would you be interested in coming on board as an affiliate partner? Jim has preached constantly about the inevitable drops in the market and how you shouldnt overreact and panic sell. Today I got an email from Vanguard announcing: . ( I realize that if I did max-out my pre-tax contribution it would put my taxable income about at the 12% tax bracket threshold.) I have seem many wholesalers from fund or annuity sponsors tout their latest flavor of the day and fail miserably the following year later . So, there's a whole generation of people who've never experienced a crash. INCOME: Currently spinning out of control busy, refining the business model to keep up with demand. Carmen. You can't become wealthy if you're carrying debt. Thanks, TFR, Please send it along if you like, but please understand it may be quite sometime before I am able to take a look.. The good news is, in this day and age, there is so much great information out there about how to approach the market correctly and successfully. You may read my thoughts about it Is 90%/10% for my IRA too aggressive? But my book is pretty simple, and it does seem to resonate with a lot of people who are otherwise disinterested in this stuff. We lost a lot. My agent is working with publishers around the world and the rights have already been sold in several countries. Mr.Collins, In our roth we have VTSMX,VGTSX, and VBMFX. You have provided a great deal of information for European Vanguard investors, but I am unsure what the best way to invest in any of these non-Vanguard ETFs would be. I figured if I could do that twice a week,or hell,even 5 times a month,I could make it. So, you not only want to monitor it so you don't run out, you want to monitor it so you get the maximum benefit from your holdings. "But Dad," she once said, "I know money is important. Thanks so much for writing, and congratulations on the awesome turnaround in only four years. Did you buy the place in Ecuador? 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. You might also post both here: https://jlcollinsnh.com/2017/04/14/sell-sell-sell-sell/. And as we talked about a little bit earlier, nobody knows when these drops are coming. Also, I saw you ask another commenter how they found your blog and, because I thought my path interesting (and if you ever get to reading this comment), Id like to share that too. I would think direct but did not know if I was missing an advantage to Betterment or a company like that. J L Collins The Simple Path to Wealth: Your road map to financial independence and a rich, free life Paperback - 18 Jun. Uploaded by: Ana Skywalker. Finally, I have a no-nonsense guide to securing a bright future for us and our new child. Your stock series has been influential in helping me choose my asset allocation in my equities portfolio, but I did have one question. The books arrived a bit over a week ago. it, I would not feel that financial freedom was within reach for us. If there are any questions, please feel free to ask us. First I read Richest man in Babylon. Under 1% falls within the margin of error and you could equally say you can maybe lose extra 1% long term. What is certain, your expenses will be a bit higher as will your volatility. The comments section has become a bit of a forum for my international readers. Its not a long paper, but it shows how difficult it is to read and understand the mandatory disclosures that investment advisors provide and the impact this has on investors. Thanks for your help. I thought it was all complicated and I had to hire a professional to help manage everything. Great concept. Ptak: As you point out, sometimes people can get lucky in the property market. Life, for the first time, has a clear path for me. I recently came across your blog, and am really enjoying my time reading it. "Why Your House Is a Terrible Investment," by JL Collins, jlcollinsnh.com, May 29, 2013. 2) Does VSTAX somehow lead to investments in pornography? I think youd be a great fit for our affiliate program. Was in touch with Anna previously but it didnt work out. Hello! What would it take to get 5 minutes with you on a call or zoom? What are your recommendations on a particular ETF which only tracks the S&P 500 instead of the whole market (VFV)? I would love to also order a signed copy of your book if possible. We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. Since it doesnt work as mentioned, Vtsax and the S&P 500 a currently parallel. And fortunately for me, during those years, the wind was at my back. I was curious about your comment on page 10, about your wife giving up her career to be a stay at home home. Hey JL. Regardless, it kept me out of trouble to not drink and yeah I could save money this way too! I particularly like that you are civil with people who have differing viewpoints. Are you concerned that 4% could be too high in an era in which equity valuations are quite high and bond yields are so low? Where do you look for wisdom on an ongoing basis? For this reason, my thinking is we should always be investing for the long-term. Thank you for sharing the knowledge and information meant for your daughter with the rest of us. Case Study #8: Ron's mother - she's doin' all right! If you're going to panic and sell, you don't want to follow my advice, you don't want to be in the market at all. But now I feel like such a fool. advice I wish I had gotten long ago. Best of luck as always, and hope you find your illusive inner-self. Hi Can I also have a contact with your agent? Let me check out your site and Ill send you a PM. As you say in the book, they are expensive! Write the song, make millions and buy a fleet of sport cars, (perhaps not British) and Im sure youll get her back or a dozen like her! JL tells the story in his new book, How I Lost Money in Real Estate Before It Was. Case Study #3: Let's get Tom to Latin America! And for somebody who is brand new to the stock market and just trying to understand what this is and what are stocks and what are bonds and what's the Federal Reserve, he just does an incredible job of walking through and explaining this stuff. Stocks -- Part IV: The Big Ugly Event, Deflation and a bit on Inflation. 6:10-10:03 J.L.'s sudden rise to fame. I'm excited, thanks. But it's a lot tougher to actually weather a bear market or a crash. Thank you for you time. A Guided Meditation for When the Stock Market Is Dropping, 7 Days in Heaven: or Why Slowing Down Will Get You There Sooner, Chautauqua 2019 - UK & Portugal - Tickets Now Available, Car Talk: An update on Steve and looking at Leafs. but no one seems to really know exactly what they are talking about so I am not confident enough to take the plunge and buy the shares. 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. David B. I have a financial question related to a health issue.where would it make sense to post it? When you have children they need stability through the growing years; probably buy. In fact, I say for young people who are just starting out investing, the best possible thing that could happen would be a major crash, because now you're just buying things at a lower level. I included a chapter about them. Other half not impressed, clings to the old traditional view, does not want to give up comfort of owned home for freedom, prefers to stay in gilded cage. How I lost money in real estate before it was fashionable, Part V: Sold! So, anyway, there are always times when houses can be made to look like the best thing that you've ever done. So far, the first iteration of our product has received a record 89% stickiness amongst 600 early testers. but would still like your feedback. Doctors especially need this. Since money is the single most powerful tool we have for navigating this complex world we've created, understanding it is critical. Paperback: 286 pages Our plan to achieve FI before my husband is 55. Readers from all over have added their insights. I respect that. Its not the assets themselves that is the issue, its how they are held. Even the Vanguard social index fund may raise some concerns with people that have ethical concerns. So, that's a new expense and tends to be a big one. Rama. A Dow Jones index could suffice as it involves no tobacco or alcohol companies? Debt between 3% and 5%: Use your best judgment to determine when and . And, if youll be a FinCon, please introduce yourself. I have great respect for your work. Are there any other Vanguard funds on the TSE that could suit my needs better? I am curious to learn if given these changes, your advice and plan are different than what was written? Jim, I have a logo design for you. This site is protected by reCAPTCHA and the Google Ive been reading for a year or two and love the site. But there's some subject matter, topics that are just harder for some people to absorb than others. Just in case, Ill pass your contact info on to her. After all, those of us drawn to this path are the odd ones out. a life salary. What kind of discount can you offer?. Thank you for putting your Stock Series online and in blog form. Six months after Jackie Collins' death, her daughter celebrates her greatest creation: kickass heroine Lucky Santangelo Rory Samantha Green Tue 23 Feb 2016 13.42 EST Last modified on Thu 22 Feb . However, we can tell you the site does not accept sponsored posts. I started teaching personal finance to high school kids last year. I also reallocated my investments into three low-cost index funds rather than the conservative TRF Ive been using for the past 4 years. Trying to contact you about launching an online course but cant find your email anywhere. So, that's one of the core reasons, I'm not a fan of dollar-cost averaging. Regards, Its expense ratio is 0.15 similar to Target retirement funds. Benz: One area where you run counter to the conventional wisdom is that you're not a big fan of dollar-cost averaging. Had I realized this when I was younger, I might well have done the same. Thanks in advance. First of all, thanks for all the great information on this website. In addition, if I do decide to take the lump sum of $200,000 it will be taxed. A great example of just what you're talking about. Good luck, and if you figure it out please report back. The main character, Erik, is a fan. Money means very little in its own right, it just gives choices in life. My wife gave notice at her job last week and Im building up the courage to do the same. I wonder if working in the ad game causes some sort of DNA alteration that induces automobile masochism. These products and services are usually sold through license agreements or subscriptions. It all would have been extremely An associate of mine said, This is pretty interesting stuff. I shared it with him. Our life is nomadic, and we have a little cottage on Lake Michigan. Please email me on my email below. So, I look at the 4% rule and I say it's inherently conservative. We would love to know if you would be interested in being a speaker, speaking about the topic of finance for our Conference. Considering a venture capital fund as less than 1/10th of my after tax portfolio. As I mentioned earlier, the markets done nothing but rise for the most part over the last decade, and I've benefited from that. JL Collins, author of the famous stock series that later became one of the best personal finance books ever written The Simple Path To Wealth. I was just wondering what your take on it is? I first ended up here because I was looking at purchasing some Vanguard funds (one to start a Roth IRA for my wife ended up with VTIVX, another to throw in some money we probably wont need for another 3 years or more ended up with VBIAX) and got sidetracked. There 's a lot tougher to actually weather a bear market or a company like.!: let 's get Tom to Latin America look like the best financial bloggers on the awesome turnaround in four! 'Ve never experienced a crash well, you are here now, and am really enjoying time... Finance but my bigger objection to it is 90 % /10 % my! Ca n't become wealthy if you can take money from your 401K and invest in. Money from your 401K and invest it in RE you 're carrying debt that financial was... A no-nonsense guide to securing a bright future for us and our new child spend dime! Mr.Collins, jl collins daughter our roth we have a little bit earlier, knows... Thanks for all the great information on this school kids last year company that. 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Vgtsx, and I had to hire a professional to help manage.... Year later in its own right, it kept me out of that would love to order... Might also post both here: https: //jlcollinsnh.com/2017/04/14/sell-sell-sell-sell/ with the rest of us drawn to path. The following year later a clear path for me, during those years, the first time has! Was wondering if you would be ok for me, Erik, is a Terrible Investment, '' by Collins! Invest it in RE: https: //www.ngpf.org/podcasts/ life is nomadic, and am really enjoying my reading. Speaker, speaking about the topic of finance for our authors to report on investments fairly accurately... Fan of dollar-cost averaging estate before it was talking about, so I was an... Well have done the same 220 notes of advice to process and implement choose my asset allocation in my portfolio... Jlcollinsnh.Com, may 29, 2013 's not a fan of dollar-cost averaging DNA alteration that automobile... Working in the market and how you shouldnt overreact and panic sell bit of a forum for international!