Financial Independence Podcast
The Best Advice from JL Collins
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.
39:56
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Quick takeaways
- Having 'F.U. money' provides the freedom to be bold and try new things, empowering individuals by providing negotiating room.
- Successful investing is about winning in increments and index investing is recommended over picking individual stocks.
Deep dives
The importance of F.U. money and its empowerment
J.L. Collins shares the concept of F.U. money, highlighting that having enough money to be bold and try something different can be achieved before having enough money to retire. He recounts his personal experience of realizing he had F.U. money when he had saved $5,000 and decided to go to Europe despite being denied time off from work. F.U. money not only enables individuals to step away if they choose to but also empowers them by providing negotiating room.
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