In 'The Simple Path to Wealth,' JL Collins provides a clear and accessible roadmap to financial independence. The book, written in a conversational style, emphasizes the importance of living below your means, avoiding debt, and investing in broad-based index funds, such as Vanguard's Total Stock Market Index Fund. Collins discusses key financial principles like the 'F-You Money' concept, the 4% rule, and the dangers of engaging investment advisors. He shares his personal journey and investment mistakes, making the book relatable and inspiring. Although the book is heavily focused on the U.S. market, its underlying principles are applicable to a wide range of investors.
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Episode 3020:
JL Collins breaks down the key factors in determining your asset allocation, focusing on risk tolerance, flexibility, and financial standing. He explains how these elements shape investment decisions, highlights personal examples, and offers insights into balancing stocks and bonds based on your financial stage. Whether you're in wealth accumulation or preservation, this guide helps you craft a strategy suited to your goals.
Read along with the original article(s) here: https://jlcollinsnh.com/2014/06/10/stocks-part-xxiii-selecting-your-asset-allocation/
Quotes to ponder:
"Only you can decide, but if ever there was a time to be brutally honest with yourself, this is it."
"For the smoothest transition, you might start slowly shifting into your bond allocation 5 or 10 years before you are fully retired."
"It is better to buy and sell in tax-advantaged accounts to avoid creating taxable events."
Episode references:
Never Pay Taxes Again: https://www.gocurrycracker.com/never-pay-taxes-again/
The Simple Path to Wealth: https://www.amazon.com/Simple-Path-Wealth-Financial-Independence/dp/1533667926
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