Financial Independence Podcast The Best Advice from JL Collins
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Dec 5, 2023 Guest JL Collins, author of Pathfinders and The Simple Path to Wealth, discusses the power of FU Money, the superiority of index investing, and the pros and cons of owning a house as an investment. He also delves into the advantages of index funds over individual stocks and actively-managed funds, and offers valuable insights on handling market volatility and preparing for the next crash.
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JL's FU Story
- J.L. Collins had $5,000 and wanted to go to Europe.
- His boss denied his time off request, but he resigned and then negotiated extra time off.
FU Money's Power
- Obtain FU money to gain boldness and try new things.
- It empowers you to leave jobs or negotiate better terms.
Investing is Incremental
- J.L. Collins' biggest mistake: thinking investing requires swinging for the fences.
- Successful investing is about winning in increments, not home runs.