#194: Build wealth and achieve financial freedom with three simple, actionable steps. Personal finance expert JL Collins discusses the concept of "FU" money, the importance of living on less than you earn, the power of low-cost index fund investing, and other effective strategies to create long-term wealth.

JL Collins is the author of The Simple Path to Wealth and a popular personal finance blog, where he helps countless individuals take control of their financial futures by simplifying wealth-building strategies. With decades of experience, his work has been widely influential in the FIRE movement.

Link to Full Show Notes: https://chrishutchins.com/jl-collins-the-simple-path-to-wealth

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Resources Mentioned

JL Collins: Blog | X | Facebook

• Books: The Simple Path to Wealth | Pathfinders
• Time Machine and the Future Returns for Stocks

Blog: Mr. Money Mustache

J.P. Morgan Asset Management Analysis: Is your money working its hardest for you?

ATH Podcast:

• Ep #91: Die With Zero: Net Fulfillment Over Net Worth with Bill Perkins
• Ep #189: Beyond the 4% Rule: Smarter Strategies for Financial Independence with Karsten Jeske
• Follow & Review on Apple Podcasts
• Email us for questions, tips, deals and feedback

Full Show Notes

(00:00) Introduction

(02:20) What Is "FU" Money and How Is It Related to Financial Freedom?

(04:13) Real Life Examples of "FU" Money (Even With Small Savings)

(07:27) The Simple Path to Wealth Explained

(09:31) Is Saving the Hardest Part of Creating Wealth?

(11:54) How to Prioritize Your Lifestyle for Financial Freedom

(19:26) Why Becoming Wealthy Is Simpler Than You Think

(23:15) Do You Need to Quit Your Job When You're Financially Independent?

(25:52) How to Look at Investments as a Way of Saving

(30:08) Should You Cash Out Your Portfolio When the Market Is Down?

(36:54) The Different Implications of the Trinity Study (Safe Withdrawal Rates)

(40:19) Expanding Your Portfolio Beyond U.S. Exposure

(49:21) Difference Between VTSAX vs. VTI

(53:19) How to Avoid Fees When Investing

(54:54) Strategies to Roll Over 401(k)s

(59:36) Exceptions for Debt

(1:04:49) Is Financial Independence About Freedom or Wealth?

(1:10:06) What Is the Real Benefit of Financial Freedom and Independence?

(1:10:52) Where to Find JL Collins

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