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.
Die with Zero presents a provocative philosophy and practical guide on how to get the most out of your money and your life. Bill Perkins argues against over-saving and under-living, advocating for investing in experiences early and maximizing positive life experiences. The book introduces concepts like 'time-bucketing,' 'net worth curve,' and 'fulfillment curve' to help readers optimize their life stages and make the most of their resources. Drawing from his own life experiences and insights from psychological science and behavioral finance, Perkins makes a compelling case for living large and accumulating memorable experiences rather than wealth.
#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
Partner Deals
DRAM: 20% off my favorite sparkling water with zero calories, zero sugar
Facet: Personalized Financial Planning + $250 enrollment fee waived
Notion: Try Notion AI free to automate tedious tasks and streamline your work
Gelt: Skip the waitlist on personalized tax guidance to maximize your wealth
DeleteMe: 20% off removing your personal info from the web
For all the deals, discounts and promo codes from our partners, go to: chrishutchins.com/deals
Resources Mentioned
JL Collins: Blog | X | Facebook
Blog: Mr. Money Mustache
J.P. Morgan Asset Management Analysis: Is your money working its hardest for you?
ATH Podcast:
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
Connect with Chris
Newsletter | Membership | Twitter | Instagram | LinkedIn
Editor’s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
Learn more about your ad choices. Visit megaphone.fm/adchoices
All the Hacks with Chris Hutchins 
