Stocks -- Part XVI: Index Funds are really just for lazy people, right? I started contributing 40% of my salary which is almost $700 every two weeks to a 401k that is at Fidelity to the following funds: Asset Class Subclass Fund Name Current % , Owning a house is fine if that’s really what you want. I am going to start with three assumptions: And in that stage, according to JL Collins, I should be 100% stocks. The contest with the mobile app-based wallet is the security that is wholly mutualist on the security of mobile OS that makes engineering science not so secure. If Jim Cramer is the world’s loudest advocate for stock-picking, his counterpart at the opposite end of the spectrum is the blogger JL Collins. In my recent post Taking Advantage of Mr. Bear, I described how this current decline offered me the opportunity to move from VTSAX (stocks) to VMMXX (cash) in my taxable account while simultaneously moving an equal amount of VBTLX (bonds) to VTSAX in my IRA. If I’m fortunate enough to secure this position, I’m planning to divert at least $3K per month in order to pay off my student loans entirely by the age of 30. Thank you so much for reading ! They interview thought leaders in the FIRE community as well as the Passive income community. It works! If you are one of my detractors, like Bob here on twitter… Bob’s Backtested Bunker “the fact that... [Continue Reading]. I am 35 and currently not working and living overseas. It is, after all, important to know and understand the opposition. Then, before 59.5, just tap the regular buckets. I just finished reading your book and unfortunately have to return it to library today–there is a huge line of holds on it. Hope your children enjoy and benefit from the book. I have a grad school degree but am taking 10 years out of the workforce while I still have preschoolers. I rather read those books slowly and keep reading them until I die. Vanguard is not an advertiser or affiliate but, Vanguard if you are listening, we’d love to have you! THANKS for hosting this site, and for sharing your manifesto. Yesterday, my pal Jim Collins dropped me a line. divesting from fossil fuel companies). Mr. Bear, Podcasts, a good book and why I should be in 100% stocks. Your comments about “read constantly” remind me of how Buffett and Munger are always talking about how they have their heads in books non-stop. My conclusion is that trackers are a good thing for investors but, are they ethical? The URL in the “You can’t pick winning stocks” link is broken. My focus now is getting rid of $26k consumer debt. Keep a mental list of people you’d like to have a cup of coffee with. Required fields are marked *, Now Available on Audiobook! Stocks -- Part V: Keeping it simple, considerations and tools, Stocks -- Part IV: The Big Ugly Event, Deflation and a bit on Inflation. The post COVID-19: The unvarnished truth from Doc G. appeared first on jlcollinsnh. Armageddon and the value of practical skills, Rent v. Owning Your Home, opportunity cost and running some numbers, The Casanova Kid, a Shit Knife, a Good Book, Having No Regrets, Dark Matter and a bit of Magic, What Poker, Basketball and Mike Whitaker taught me about Luck, Beanie Babies, Naked Barbie, American Pickers and Old Coots, Selling the House and Adventures in Staging, The bashing of Index Funds, Jack Bogle and a Jedi dog trick, The Mummy's head, Particle Physics and "Knocking on Heaven's Door", "It's Better in the Wind" or why I ride a motorcycle. Miguel, I was having the same issue as you. That means stock picking and high ERs, two key indicators of poor performance. Thank you so much for the very kind words and for taking the time to post them. Then you can evaluate your experience with them for yourself. When I bought the house my wife and I had dreams of living in it at least 15 years. Part XVII-B: ETF vs. Mutual Fund — What’s the difference? How would that 20% be calculated, since I know you can’t just add/subtract daily percentage changes. Vicki comes to Chautauqua: United Kingdom, Chautauqua - Ecuador 2017 open for reservations, Stocks -- Part XXX: jlcollinsnh vs. Vanguard, Reviews of The Simple Path to Wealth; gone for summer. Stocks -- Part XIII: The 4% rule, withdrawal rates and how much can I spend anyway? Stocks -- Part VII: Can everyone really retire a millionaire? Nevertheless, I’m going for these financial principals and see what happens. 8115 Ratings “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, … For those of you who don’t know J.L Collins, I like to refer to him as “The Godfather of the whole FIRE movement” because he’s … Coincidentally I will be in London for a weekend with my family from May 31st to Jun 2nd so if you guys do not have any plans we can have the or the . BTW, occasionally folks have linked my posts here: http://www.reddit.com/r/financialindependence, That always attracts new readers. The post Reviewing the comments on my post of April 1st appeared first on jlcollinsnh. You have a rather sweet (if not easy) choice to make: Roots v. Wings. The nigh secure way to lose your Jl collins Bitcoin in a munition wallet. Then Winchester and on to London 9-12th. and whether there are tax advantaged buckets they can be placed in that allow from withdrawal earlier than 59 and 1/2. My husband immigrated to the US with little English and had to start over from the bottom. If I’m right, it might be a quick ~20%. The service you provide to those lucky enough to stumble upon your site is invaluable, & I’m so glad I randomly stumbled your work about 2 mo’s ago, as well as Mustache, Madfientist, et al. If you click on those ads it shows them the ads are working for them and that support will continue. Note: thanks for not publishing my phone number. I’m wondering whether this might be a function of the percentage with which one plans to draw down. Congratulations on exposing your son to these concepts. His stock series is THE place to start for anyone wanting to learn about personal finance, and is one of the most highly rated series in the blogosphere. Thank you! When I go back, my (part-time) earnings will go toward covering the long term goals mentioned above. I’ll look for your name along with Warren and Peter’s in the not too distant future. https://www.youtube.com/watch?v=sC66Vy67uv4&feature=youtu.be, http://jlcollinsnh268650683.wpcomstaging.com/2016/11/15/where-did-you-learn-about-money/. It was the advice in your manifesto that really cued my epiphany. Another blogger that writes good content who is an early retiree, but with a less extreme story (recently retired at 55 I believe) is Fritz Gilbert who writes at the Retirement Manifesto. , This post has my suggested range of when to pay off debt based on the interest rate: http://jlcollinsnh268650683.wpcomstaging.com/2015/03/26/stocks-part-xxviii-debt-the-unacceptable-burden/. Next, I stumbled upon JL Collins’s book, The Simple Path to Wealth, and the accompanying website. Assuming this situation is 5-10 years away, would it make sense to save money for those events by opening an individual/joint (non-retirement) account with Vanguard and invest the money (VTSAX) in that “bucket” until we know whether those plans are firmly on the horizon? Mmm. Over 100,000 English translations of French words and phrases. On a separate note… a recent illness made me question our extreme frugality. If you choose to try to best the averages, God Bless and God Speed. We’ve always wanted out of the “throwing rent money away” lifestyle, but now I feel that I’ve just been programmed by the media that I only recently shut off. 20% I could not have said it better myself... Stocks -- Part IX: Why I don't like investment advisors. He also works outside of our business. I got the point early on. (But it became one a week later!) I certainly wish that I did…. According to my calculations, my husband and I will be in a position to cover our bases (monthly expenses, emergency fund, decent retirement, help kids get established/care for aging parents, possibly buy a small house) + pay for a few extra goals like live abroad for a year. Diania Merriam is the founder of The EconoMe Conference, an event centered around financial independence. I was always skeptic with astrology readings but this reading was spot on for me and other people I know. There is so much nonsense swirling around COVID-19, right down to the correct name, I was starting to get lost sorting it out. Stocks -- Part XIV: Deflation, the ugly escort of Depressions. I’ve also asked MMM as well and am hoping someone can help us figure everything out. but we need our own space. JL Collins’s blog. …and don’t feel bad. Right now, I’m in the final interview stages of a company that will pay $90k in salary. Damn, this personal finance stuff is hard! Mr. Bear, Podcasts, a good book and why I should be in 100% stocks. This is part 2 of 2. But a comfortable retirement, and the ability to travel with our daughter now, is far more compelling! ill buy you a coffee, and hope we can visit. The difference is you can’t drive yourself nuts looking at the exact price of your house as it fluctuates as you can with a fund. Money is the single most important, effective tool in navigating it. To mix a couple of metaphors. Desperate times call for desperate measures. It was 2014. I bought a fixer-upper in a popular college town for $140,000 cash in 2010, and after sinking a another $120,000 (thanks to a mortgage) into it have a house worth close to $370,000. JL Collins of JLCollinsNH.com on how to think about stocks and money. The Career Manifesto: Discover Your Calling and Create an Extraordinary Life. Darrow has long shared his portfolio on this blog. Am I thinking about this correctly? I have 4k for emergency and I put 500 in a month making 3% at the bank. Having read your book, which I really enjoyed, along with so many others about finance and financial independence, I have a concern about ethics. Hi Jim – I am 59 and plan on retiring, at worst, in 3 years but possibly sooner. Kudos! I live in Canada. I feel better knowing I am in good company! Today (March 9, 2020) I decided it was time to cuddle up to Mr. Bear and let him help me avoid some capital gains taxes. Lead with your bright and shining example and maybe I’ll follow. I love reading Stoic philosophy. Your Manifesto is the single best article I’ve read in the past couple years that I’ve been obsessed with financial planning. Sometimes a few weeks, most often over a few months and could easily be over a year or more. How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology Andrew Aziz. I have been following you & MMM for a few years now, and am now saving about 50-60% of my income, and even started a side gig to hopefully save even more. With such a savings rate you should be able to fully fund your tax advantaged buckets and still fund your regular buckets. My feeling is that, for the most part, the answer is yes. Question for you: nowhere in your manifesto (or entire website) do you talk about “socially responsible investing” (e.g. Sit on your 100k until you read the stock series here on the blog. Net Worth . I hopefully have 2 pretty quick questions. Reviewing the comments on my post of April 1st, Why I will no longer be writing this blog. (I keep a growing list of books I’ve read and this is the first time I’ve ever had difficulty finding the name of the publisher and the place of publication from the book itself.) Hi Jim, I know some of it is luck but it’s also that although we live very well, just not over our means. Do you mean 20% over a time period, say a week or month? Then build a reserve. So far we have succeeded in those areas. Personally, I don’t see the need for International as I describe here: http://jlcollinsnh.wordpress.com/2012/09/26/stocks-part-xi-international-funds-2/ I cannot see that they can be a benign influence on the market though they are exerting a lot of downward pressure on fees. "Bill Bernstein's impassioned new audio book is indeed a manifesto - a call to action for Main Street investors to free themselves from exploitation by Wall Street money moguls; to understand the brute principles that ultimately determine stock market returns; and to establish the sound and simple strategies necessary for investment success. a 401k yes, but a mortgage as well. It just part of the process. VTSAX has a dividend of ~2%. We are renting for very cheap in an excellent neighborhood where everything we need is in walking or biking distance, and if not, mostly also by public transit. What I mean is, I could see where a more comfortable income with the ability to save a higher percentage of income would be able to absorb the fluctuations inherent in the high-deductible/HSA option by paying out of pocket rather than drawing on the HSA, whereas, we are currently only able to maintain a much smaller “emergency fund”—typically only enough to cover travel expenses to a funeral in the family type thing. I HATE being transfered around on the phone with a company and feeling like I get different answers each time I talk to a different person. 1491. You’re right that it’s basically indentured servitude! It would work, but would it be ethical? Know what you are ‘spending’ your money on and be ruthless about minimizing expenses in each category (examples) **These are affiliate links and should you chose to do business with them, this blog will earn a small commission. Last week we sent the following message to our Chautauqua mailing list. The material is not interesting to me and I don’t gel with the mindsets of people in the field. I love teaching financial literacy to my students and would love to start coaching their families as well. “No one agrees with other people’s opinions, they merely agree with their own opinion expressed by somebody else.”, From my post of quotes: http://jlcollinsnh268650683.wpcomstaging.com/2012/06/12/i-could-not-have-said-it-better-myself/. I just got done listening and wanted to extend my thanks for taking the time to do that. But that’s me, and I’m much more a wings kinda guy: http://jlcollinsnh268650683.wpcomstaging.com/2013/03/20/roots-v-wings-considering-home-ownership/. Welcome to another Christopher Guest Post, a Q&A interview series that I will run every few weeks to get you better acquainted with some excellent fellow writers who have graciously accepted my invitation to be showcased here for you.. I’m excited to bring you the one and only one of several men named Jim Collins. I’m going to have to be sure to look more carefully at the calendar before I put up a post with momentous news. See more interviews, videos and podcasts featuring jlcollinsnh, © Copyright 2020 jlcollinsnh.comPrivacy Policy. Another visual image, though I appreciate yet more insulting, is that a tracker fund is a parasite on this creature we call the stockmarket. If you have debt, you are a slave with still stouter shackles. Not pure enough. Episode 1087: [Part 2] Stocks – Part XII: Bonds by JL Collins on Everything You Need To Know About Bond Investments Mr. Collins is … “Audible is letting me give away some free copies. Tim Ferriss – The 4-Hour Work Week. But rather than answer your question I’m going to give you an assignment. At the end states that to print the book there is a link provided by the seller. I apologize if you have addressed my question previously and would appreciate guidance where to look on your blog. please feel free to comment and ask questions along the way. . Of course you can use a stock/bond allocation to tailor how much risk you are willing to take: From a Roman Emperor to a Greek slave, many of the Greco-Roman people adopted ancient Stoicism. • You are a Christian or at least a good person. Heard you on Mad Fientist’s podcast and had to come check out your site. He loves his career path, but it’s obviously not lucrative. While I touched on it in Part XVII, the differences between ETFs and Mutual Funds is a recurring question here. The rest is your personal choice. It is a small mitigation that am, at least, independent rather than one of those truly evil ‘tied’ agents out to sell their companies financial wares for the god of profit above all else! If you could read just one book about investing and gaining financial independence, it . At 49 I have over a million dollars in my retirement and can afford to pay cash for my kids college. Great start for age 29! I just finished your book “The Simple Path to Wealth” and am making plans to follow the plan laid out by using the $3000 plan. I find it interesting came to read your blog from a link on from “Can I Retire Yet” Your manifesto is almost exactly what I have been doing and saying for years. That week, I scoured the internet for financial advice. You might check out the Mad Fientist on this: http://www.madfientist.com/ultimate-retirement-account/. If you haven’t already, check out this post: http://jlcollinsnh268650683.wpcomstaging.com/2013/05/02/stocks-part-xvii-what-if-you-cant-buy-vtsax-or-even-vanguard/. You can eat my Vindaloo, mega lottery, Blondie, Noa, Israel Kamakawiwo 'Ole, art, film and a ride on the Space Shuttle. The post How to give when you have a business appeared first on jlcollinsnh. Since you recommend that families planning to use the money to pay for current bills keep it in an FDIC insured savings acct rather than something like VTSAX, I’m guessing the HSA would only make sense for a family that could also save the parallel amount in an ordinary account, invest in VTSAX, and save the receipts for the HSA for years down the road (assuming the laws about that don’t change). His manifesto on personal finance is one I try to live by. Case Study #3: Let's get Tom to Latin America! Already have decided that a 3 index fund portfolio (+ maybe enough in a structured CD ladder to cover living withdrawals when markets are down) is the way I’m going. Not a single investment other than two houses and those are really liabilities. Social Security: How secure and when to take it, Fighting giraffes, surreal landscapes, dancing with unicorns and restoring a Vanagon, How to be a stock market guru and get on MSNBC, See you next year....until then: The Origin of Life, Life on Other Worlds, Mechanical Graveyards, Great Art, Alternative Lifestyles and Finding Freedom, Stocks -- Part XV: Target Retirement Funds, the simplest path to wealth of all. While index fund investing enjoys broad support these days, no one says it with the same purity and take-no-prisoners orthodoxy as Collins. So I reached out to get an advance copy of the new book How I Invest My Money as soon as I heard about it. There is no absolute value. If not, stick with cash. Actually it wasn’t one of his articles. From paying down debt to consulting a financial planner to transferring files and data off your work computer and email, Fritz covers the obvious and not-so-obvious ways to ensure an easy transition into your new life. Since finding your audiobook “The Simple Path to Wealth” on Audible, I’ve been more proactive than ever with building a secure financial future for myself. However, is there a simple way to figure this? So if your draw down rate is 2% or less, and if the volatility of 100% stocks doesn’t bother you, you can skip the bonds if you like. Addendum 1: I couldn’t have said it better myself…. Now, when you’re done patting yourself on the back, take a moment and give a little thanks. Where I feel stuck is not in having the buy your own freedom mindset. Without F-you Money you are a slave. It’s not even a Bear Market as of March 4th! Look around. If you are basking in the glow of your hard work, initiative and success, congratulations. YNAB and Tuft & Needle both support this site with paid ads. Would have saved me a lot of heartache and $$$. Hardly enough to get excited about, at least if you are looking for a buying opportunity. So, you might join Brett in asking, why haven’t I? Any & all words of wisdom would be much appreciated. Thanks for checking in. The 20% drop I refer to would be over a period of time and, as you observe, very rarely in just a single day. Ship docks at Southhampton where we’ll spend a couple of days. The Stock Series at JL Collins NH; Playing With FIRE documentary . An expensive indulgence, but fine. Just read the Simple Path to Wealth, which I very much enjoyed. My psychology steers towards the “paying off early” camp but always like to hear other’s views. Not sure if this will help you but it helped me a lot. College Would any of the principles require a bit of a modification for our situation? I believe Vanguard does this automatically, but it is worth watching to be sure. Now that I have it, I’m on a roll , How do I know where to invest the money my dear, wise, beloved mother left me on 4/1/2016? Money can buy many things, among which the most important thing is freedom. Dividend Diplomats; Dividend Growth Investor; Full Time Finance; Get Rich Slowly; JL Collins – The simple path to wealth; Money Management IQ; Othalafehu; Retirement Refined; Blogs about working on early retirement. Right now we’re siding with Kitces. They’ve taken steps very recently to compete in the low-cost index fund arena with Vanguard. It has a reasonable expense ratio of .23%. There is nothing you can’t learn, no place you can’t go, if you read. From paying down debt to consulting a financial planner to transferring files and data off your work computer and email, Fritz covers the obvious and not-so-obvious ways … I’ve shared mine as well. I loved the simplicity and clarity of your approach. Press question mark to learn the rest of the keyboard shortcuts. All the best on your journeys, financial and otherwise! ***********************************************. Chautauqua 2014: Lightning strikes again! Perhaps I should have covered it better. We’ll see. Our regulations are broadly based on a Christian ethos even if our governments are secular. Nightmare on Wall Street: Will the Blood Bath Continue? The answer is in there, along with a bunch more you should know before investing. Is there a way they can invest for retirement even with undocumented status? Then, finally, invest. . $5.92. Since then I’ve moved everything over to low cost diy stuff through Schwab and Vanguard. Food Start your journey by reading his Manifesto, and more importantly, his Stock Series. Thank you for letting me know where to start reading. We are trying to give the new job a year & continue to look for houses – but now I’m so conflicted. Stocks -- Part VIII: The 401K, 403b, TSP, IRA & Roth Buckets. After getting out of $30K of debt in 11 months, she used her newfound financial freedom to walk 500 miles across northern Spain on the Camino de Santiago. Though house prices are rising here, I can’t see us realizing that level of profit from selling our house in 17 years (especially given the on-going costs of home ownership: rising property taxes, maintenance and repairs, etc). Happy Birthday, jlcollinsnh; and thanks for the gift Mr. MM! Congratulations on finishing your course. If only I had known more about what I was getting myself into at the young age of 18. And/Or their pet project his Manifesto on personal Finance more you should be in 100 stocks... Details jl collins manifesto make sense and fall into place affiliate links and should I start reading first investor shares version... Her money is asking enough of it till they hit FI Documentary which. If Vanguard Gets Nuked and more talented than I by accomplished food and... 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