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 3028:
Chris Reining explains how to approach investing with a long-term mindset, recognizing market fluctuations as opportunities rather than distractions. By blending analysis with intuition, successful investors develop a skill that, much like art, takes years to refine.
Read along with the original article(s) here: https://chrisreining.com/art-of-investing/
Quotes to ponder:
"The stock market is there to serve you. When it offers a good business at a bad price you do nothing. When it offers a good business at a good price you buy."
"The longer you invest the more you realize that being good at investing has little to do with combing through mountains of data or spending hours crunching numbers."
"To be good is blending science and art. It’s hard data and soft data. Left brain, right brain."
Episode references:
The Simple Path to Wealth: https://www.amazon.com/Simple-Path-Wealth-Financial-Independence/dp/1533667926
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