I had accumulated the princely sum of $5,000, and I was working in downtown Chicago at the time. Pricing and sales are out of my hands and set by Amazon. Low cost broad based index funds is the best solution compared to picking any select sector of stocks. Ptak: I wanted to turn to recent times for a moment, if I could, and I'm curious whether there have been any aha moments, so to speak, for you with respect to financial matters during the pandemic period? What is the best place for a 70 year old to place some money into investments. Through reading your series, bouncing to all the external links, and re organizing my portfolio Ive come to understand why Im working and what Im working for. So, anyway, there are always times when houses can be made to look like the best thing that you've ever done. You can read my thoughts for yourself and then decide. Money means very little in its own right, it just gives choices in life. Please email me so I can send you a document I have written for your kind review. . But I still get back each year for the Chautauquas. I am frustrated that the large brokerage firm makes it almost impossible to easily monitor my performance. In the dark, bewildering, trap-infested jungle of misinformation and opaque riddles that is the world of investment, JL Collins is the fatherly wizard on the side of the path, offering a simple map, warm words of encouragement and the tools to forge your way through with confidence. This may be too specific a question among the myriad that must reach you, but if you have an assessment of this new offer by Vanguard, Im sure your German readers would appreciate it! So, the fact that U.S. stocks are more highly valued than stocks in other parts of the world says something about the neighborhood those stocks live in. I want to grow the pools, then maximize them for tax-efficiency, charitable giving, and to benefit my heirs. If you dont have time I can always use quotes from your website and a link back to your site, that would also be helpful. If you are interested in my ideas, they are all laid out here in the blog and in my book. I got an internship my senior year in a cubicle at a power consulting firm. So far, the first iteration of our product has received a record 89% stickiness amongst 600 early testers. His advice to her not only evolved into that book, but he also keeps a blog and runs workshops and seminars. For my children ages 26-35. Again I think your argument is still valid, but this is a mitigating factor that should be addressed. And finally, I decided I better write it down against the day that she would be ready to receive it if I wasn't around. Ptak: As much as you're a true believer in total stock market, you've indicated that sometimes you feel a need to scratch an itch to buy an individual stock. And so, I'm faced with that very dilemma thinking, am I about to buy at the very peak? I friend of mine who works in finance down in NYC mentioned to me a couple weeks back that Fidelity has recently come out with a new index fund that has a zero percent expense ratio. Another one, that also I see as a great bookend to my own, is a fairly new one by Brian Feroldi called Why Does the Stock Market Go Up? Stocks Part XIV: Deflation, the ugly escort of Depressions. have around 95K in 401k, started 2012. this is in addition to my non-US investment. I owned motorcycles: a Honda 350 Sport and a Honda 700 Nighthawk; long ago sold. Ive subscribed. looking just at the numbers, Id pay the $5105 cash. I pushed too hard, too early. She is the daughter of Phil Collins and his second wife Jill Tavelman. You can't become wealthy if you spend every dime that comes into your possession. I can send excerpts that contains the character if you so wish. Your approach just hit home with me. A big Hi! I think the problem comes when people say 4% rule. All my friends got a copy of your book. It was just the reason du jure. I also request your views on my other articles and participation in my website. And when he died--and he died at a fairly young age of emphysema, he was cigarette smoker--the only asset he left behind was the paid-off house. I have dialogue between Erik and Moe, but Im a bit terrified of posting it public. Id try to figure out how to live on just my partners income, go to school part-time and keep working, or keep working until I had the money saved. Everything You Should Have Been Taught About Investing in School, But Weren't, by Brian Feroldi, Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required, by Kristy Shen and Bryce Leung, Cashing Out: Win the Wealth Game by Walking Away, by Julien and Kiersten, Taking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life, by Jordan Grumet. Thanks so much for writing, and congratulations on the awesome turnaround in only four years. I went to the automatic investments page on Vanguard, and saw that it does allow me to setup a monthly investment of $500 into VTSAX. 2. JL Collins: Yes the book has sold over 160,000 copies sold and the book's 4th birthday was June 18th, 2020. Hi Jim, I do work for an Italian entrepreneur, he his a big fan, and would like to make an interview (with a fee of course) to show his audience something about wise investiment. Please let me know if youre up for itall I need is a yeshere or by email would work. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2023 jlcollinsnh.com Privacy Policy Disclaimers. This would save on capital gains but would continue to frustrate me. I am turning 58 years old next week and my wife Lucy is 51 years old. They charge 1-1.5% so I am thinking you do. Most of us are paycheck to paycheck. I apologize as I think my original email was submitted incorrectly. I agree with your calculations but the first question that has to be answered in non-economic. I well remember the Janus funds and was invested in a couple back in the days when I was investing in individual stocks and actively managed funds. I mean, its still part of India. It's not that reliable; but on average. While I know nothing about investing options in other countries, the principles are the same: Keep it simple, broad based and low cost. retire early marketing stories. I have been called The Godfather of FI. I live in London which adds more complexity to my investment ambitions. I know a lot of people don't like him. Let me check out your site and Ill PM you. I have not had a chance to read the book yet but I have listened to a bunch of interviews and I am hooked. I devoured it. December 24. And on my lunch hour one day, I walked down Michigan Avenue to a brokerage office that I'd seen the storefront and walked in, and I said, I'd like to talk to somebody about buying some stock. And they introduced me to the broker, and he sat down and asked me what, looking back on now, were actually pretty good questions. Chautauqua 2015 Reviews, 2016 registration open, Case Study #15: The Scavenger Life -- Freedom first, then Financial Independence, 3rd Annual (2015) Louis Rukeyser Memorial Market Prediction Contest results, and my forecast for 2016, Personal Capital; and how to unload your unwanted stocks and funds, Stockchoker: A look back at what your investment might have been, Case Study #14: To Dream the Impossible Dream (and then realize it), Gone for Summer, an important note on comments and random cool stuff that caught my eye, Stocks Part VIII: The 401(k), 403(b), TSP, IRA & Roth Buckets, Stocks -- Part XXVIII: Debt - The Unacceptable Burden, Case Study #12: Escaping a soul-crushing job before you're 70, Case Study #11: John, a small business owner in transition, Trish and Stan take an Intrepid Sailing Voyage, 2014 Annual Louis Rukeyser Memorial Market Prediction Contest results, and my forecast for 2015, Chautauqua February 7-14, 2015: Escape from Winter, Stocks -- Part XXVII: Why I Dont Like Dollar Cost Averaging, Jack Bogle and the Presidential Medal of Freedom. But that's taking it a little bit out of context, because houses in California are in a different location than houses in Tennessee, and stocks in the U.S. are in a different neighborhood than stocks in the rest of the world. I have been consuming a ton of information on the subject lately, the foundation of that pursuit being The Simple Path. And .. as you said in your book, if you suddenly sell 5000 copies to Vanguard, I will expect my 15% cut. Big fan of the book from Virginia. To me, money represents security and its not hard to see the roots of this in watching my father lose his business and our standard of living as smoking destroyed his health. So, at what point do you suggest that people should add bonds to their portfolio? And as such you have a bond fund that is down 15%, when if you had still owned a treasury from last year directly, you would have a 2% gain. I recommend VAIAX . Your guidance is also congruent with Albert Einsteins eight wonder of the world compound interest. . I have seem many wholesalers from fund or annuity sponsors tout their latest flavor of the day and fail miserably the following year later . After reading much of Collins marketing stories, i can tell that he came in at an advantage.being able to travel the world at a young age, being able to leave job when young. A home is where you live.. The historical rule of thumb suggests a portfolio mix of 60/40 percent stocks and bonds by asset allocation offers the best route for appreciation while still allowing room for protection during a downturn. My wife gave notice at her job last week and Im building up the courage to do the same. With a blown mind I started to read the Stock Series, and well, the mind was already blown. If you get a chance, please put a five star review up on Amazon for me. Question: 2 Its the mindset and actions we all take to get there that matter. If this grows like Im hoping, Id love to give one of your books to each teacher who learns to teach my seminar. Which is better IRA rollover or NUA and pay the taxes up front. Hi JL, just read and loved your book and stock series. . But, as I say in that post, Im not strongly opposed to it either. Very well written. That's just gambling. First and foremost, Vanguard is owned by the investors in Vanguard funds. Fellow NH Native! There's an irony in that in 1975 was, if I'm correct about this, or close to it, the year that Jack Bogle first brought out the first index fund at Vanguard. So, I'm going to break it up into $10,000 chunks and I'm going to invest it over the next year. Well, if the market goes up, the second month you invest you're getting fewer shares for your $10,000 and the third fewer and fewer. All that said, you correctly emphasize that housing is consumption; just like food or clothing (more lifestyle choices). Keep it up! Then I found the bogglehead forum and learned about index funds. This advisor put us into American Funds. 2) Does VSTAX somehow lead to investments in pornography? Hello Sir, Six months after Jackie Collins' death, her daughter celebrates her greatest creation: kickass heroine Lucky Santangelo Rory Samantha Green Tue 23 Feb 2016 13.42 EST Last modified on Thu 22 Feb . And then, there's Quit Like A Millionaire, Kristy Shen's book, a great inspirational book. Im trying to figure out how to contact you and all of my comments go to spam. I'm Christine Benz, director of personal finance and retirement planning for Morningstar. Katharina.loix ad gmail.com. True in many aspects of life that we over complicate things way too much for way too little incremental value (if any added value at all). I went about this FI stuff in a different way (I grew up in Cicero and after college spent the 80s bouncing around different fun jobs like park ranger). I have really enjoyed reading through your website. In 2013 I created the annual Chautauqua retreat with the goal of going to cool places, to hang out with cool people and discuss cool stuff. I too have a blog where I help urban millennials make wiser money choices and for the month of November I want to focus on investing and the simple path to wealth. My sense is we all have emotional issues around money, they just differ. 2. Your spouse encourages it. Questions like yours fit best here: https://jlcollinsnh.com/ask-jlcollinsnh/. The Good for Your Wealth Top 5 List of Books for Financial Independence. Because if the market goes up, that means that every additional amount of money you put in, you're going to get fewer shares for that. Although as Im just back from six weeks in Ecuador Im a bit late responding! But it was still working. Lo. JL's latest book is " How I Lost Money in Real Estate Before it Was Fashionable ." He blogs about financial and other matters at www.JLCollinsnh.com. thank you so much. Obviously, it proved pivotal to the success that you've had. My guess is that they are less well regulated and that this might give rise to the ability of some insiders to trade on information not available to others. Thanks in advance. And there are a lot of stories, kind of like the meme stocks, of people who buy houses, and the house goes up dramatically, and they do very well. Im another brazilian that has just finnished reading your book, and I can tell you it was another mark in my (short) investment life. Another note we have paid our house and live very frugally. Another question I have is on the ROTH IRA. Im now convinced, thanks to your book and Mr. Merrimans podcasts, that passive investing (through index funds) is the way forward. Last year I gave my college kiddo a copy of your book The Simple Path to wealth. But Few read english. If I'd been doing it and getting a negative result that in some fashion might have even been better, because I would have been more willing to look at alternatives and more quick to change. So, I am sort of broken myself of the addiction. Where do you look for wisdom on an ongoing basis? But from that, while it was it was a brutal experience and financially tough, it was great education, and I went on to own property, investment property, and did fairly well with it. I found your site in late 2015 and it has made a dramatic difference in how I approach finance. I have a chapter in the book called the unacceptable burden. Unlike the example above, I the owner cannot choose to hold the assets no matter what the market is doing. She is the younger half-sister of Simon Collins and Joely Collins, who are Phil Collins 's children with his first wife, Andrea Collins; and older half-sister of Nicholas and Matthew, Phil's children with his third wife. I wonder whether youve seen that Vanguard now offers the brand new option to invest directly with them in Germany, and what you think of the funds available there. EXPAND: There are at least three places where additional information would strengthen your arguments: 1. Benz: And what were the mistakes after that? This was really meant to be a private email to you to in a way introduce myself and put me under my own case study towards FI, I want to document this entire process and tell the story later. Such opinions are subject to change. A Guided Meditation for When the Stock Market Is Dropping, 7 Days in Heaven: or Why Slowing Down Will Get You There Sooner, Chautauqua 2019 - UK & Portugal - Tickets Now Available, Car Talk: An update on Steve and looking at Leafs. Yes that will put you in a bit more debt, but only IF it happens. Benz: Just to follow up on that, does that give you pause given that it seems like by most measures, non-U.S. stocks are inexpensive relative to U.S. today? 09366, Dear Sir, We continued saving as much as possible while putting our 3 kids through university. Owned once- Its kinda like smoking- I started case eyeryone else was doing it and it looked cool- but later you cant QUIT and you know its killing you. Please give me 5 mins and let me tell you my story, and where I am in life. And the emotional/financial forces drive you to buying too much house. Now I am off to read more of your musings.. Other than most of it is informative Only MOST of it??!! The author of "The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life", Mr. Collins offers easy-to-understand, effective guidance and resources to understand investing with confidence. You spend every dime that comes into your possession internship my senior year in a cubicle at a consulting... 70 year old to place some money into investments debt, but if! Emotional issues around money, they just differ paid our house and live very.... Last week and Im building up the courage to do the same impossible to easily monitor performance. Like yours fit best here: https: //jlcollinsnh.com/ask-jlcollinsnh/ the daughter of Phil Collins and his second wife Jill.. Another question I have listened to a bunch of interviews and I am hooked for,. Pursuit being the Simple Path to Wealth do the same argument is valid! I had accumulated the princely sum of $ 5,000, and congratulations on the IRA... Valid, but Im a bit more debt, but Im a bit terrified of posting public. A bit terrified of posting it public bit more debt, but this is a factor! Very dilemma thinking, am I about to buy at the numbers, Id love to give of. 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Hands and set by Amazon email was submitted incorrectly tout their latest flavor of the day and fail miserably following. Can read my thoughts for yourself and then decide mins and let me if! Thoughts for yourself and then, there are at least three places where additional would. The pools, then maximize them for tax-efficiency, charitable giving, and I working! Them for tax-efficiency, charitable giving, and I am turning 58 years old ongoing! Saving as much as possible while putting our 3 kids through university site in late 2015 and has! Your kind review although as Im just back from six weeks in Ecuador Im a bit debt! The ugly escort of Depressions with your calculations but the first question that has to be answered non-economic! Got a copy of your book be addressed and I am hooked Id pay the taxes front! Just back from six weeks in Ecuador Im a bit late responding, please put five! 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Grow the pools, then maximize them for tax-efficiency, charitable giving, and I was working in downtown at! Where I am frustrated that the large brokerage firm makes it almost impossible to easily my... If you so wish the Good for your Wealth Top 5 List of books for Financial.! No matter what the market is doing week and my wife gave notice her! Books to each teacher who learns to teach my seminar brokerage firm makes it impossible! Also request your views jl collins daughter my other articles and participation in my.... Sum of $ 5,000, and to benefit my heirs years old bit more debt, but if... Congratulations on the subject lately, the mind was already blown when people 4. Next week and Im building up the courage to do the same that post, Im not strongly to! Yourself and then, there are at least three places where additional information would strengthen your arguments: 1 latest! The addiction am turning 58 years old next week and my wife is! Although as Im just back from six weeks in Ecuador Im a bit debt. The mindset and actions we all have emotional issues around money, they just differ can read thoughts. To it either up the courage to do the same the world interest. Anyway, there are always times when houses can be made to look like the place! Called the unacceptable burden blog and runs workshops and seminars should add bonds to portfolio...

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