From my understanding, these index funds are socially-conscious versions of VTSAX and VTIAX, so they exclude the stocks of companies that produce: Adult entertainment, alcohol and tobacco products, weapons, fossil fuels energy, gambling activities, and nuclear power. . But my bigger objection to it is that it's not a very effective financial way to build wealth. Blessings for your continued work and impact. Were raising our seed round; please, read about it here: https://startengine.com/learnt. Keep writing your blog and educate people like us. Chautauqua 2014: Lightning strikes again! My wife Jane and I have been married since 1982. Its in Swedish, but Google Translate is our dear friend . I am just now starting to make payments on my student loans ($45.5K to go!) Too cold. Is that what you really want to do? Im now convinced, thanks to your book and Mr. Merrimans podcasts, that passive investing (through index funds) is the way forward. Consignment Shops: Best business model ever? Gimme a break. Jeff Ptak: And I'm Jeff Ptak, chief ratings officer for Morningstar Research Services. Monica H. avid reader of this blog and fellow index investor. Heres an archive showing my previous 100+ guests: https://www.ngpf.org/podcasts/. Thank you for distilling your wisdom and sharing with the world. I was promoted to full-time electrical engineer when I graduated and I worked for about 2 months before I said, NO WAY! And, of course, as you alluded to, housing prices have just exploded on the upside over the last couple of years. Great website, great ideas, crystallized all the vague ideas floating around in my mind, brilliant, great, fabulous, yes! If I invest $5500 into it, does that mean I can deduct that from my annual taxes. And so, that's really the comparison you're making is, is this a good investment, not only a good way to deploy my money, but a big chunk of my time, and/or some chunk of my time? Im glad you found your way here and it resonates with you. However . I couldnt put it down and finished it in 2 days. Would you entertain a bulk discount? I've owned houses most of my adult life. Nor do I have any idea (other than Google) as to where you might turn. Jim, I have a logo design for you. *we are paying off our new van as well but we put money down on a private loan, and have been making steep payments which are still a fraction of what rent would cost where we want to live. Ive recently looked back and I can say, Im disappointed at the results. What made me finally put this stuff down in the blog was, I had tried very hard to introduce my daughter to these financial concepts. Now you are asking me to tell you what to do. My name is Laura, I head Marketing Partnerships at Plastiq. Not an ideal start to a marriage. I have a chapter in the book called the unacceptable burden. Thanks for writing a book about finances that is down to earth!! Trying to decide if I should leave that alone or move it to VTSAX. Feel free to send more info. I could send it via PM. But what I do blame myself for is a college buddy of mine in the mid-80s, who was an analyst with Duff & Phelps, introduced me to the concept of index funds. 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. I also reallocated my investments into three low-cost index funds rather than the conservative TRF Ive been using for the past 4 years. I am as well ( say in 10 years+ time frame). J.L. Maybe the effect is reduced, because these products are only purchased every 5 years or so. It worked on me. You should expand the book and contract it. Seems like a bad combination. 2) Does VSTAX somehow lead to investments in pornography? It's just that I've spent at least half of those dimes over the years buying the thing that was most important to me, and that's my freedom, that's my time. And maybe if you bought a house today in San Francisco, 20 years from now, for some reason San Francisco declines and becomes the next Detroit. Collins recommends you prioritize your debt repayment strategy like this: Debt at less than 3%: Pay it off slowly and invest. Hope your daughters enjoy and benefit from the book. The simplicity of VTSAX is extremely appealing to me, but is not an option on the TSE. She was in college and interested in anything but investing. I never felt overly confident in my thoughts because there are so many different opinions on the subject of personal finance. Jackie Collins and her daughters (from left) Tracy, Tiffany and Rory celebrate a birthday. i think i would have made different choices. Any other gotcha state taxes or fees to be aware of there? Of course, depending on how you define pornography, there could well be publicly traded companies that engage in it as part of their businesses. Hanover co'unty. Rather, he does a good job of making you aware of how much you can lose. Your book was the very first investment book Ive read, and I was impressed at how easy it all should be. That said, please feel free to ping me when you have something you think would be of particular interest. Do you have a discount for bulk purchases of books? Doc G was spot on regarding so many points. What are your thoughts on buying a fund that tracks the top 50 stocks in our little market? we decided NO WAY! Stocks -- Part XIV: Deflation, the ugly escort of Depressions. Collins Complete DIY Manual - Albert Jackson 2004 I knew there was a way, with much more freedom, flexibility and less hours in a cube to acquire a $1500 paycheck every 2 weeks. Read our editorial policy to learn more about our process. Nice work. thank you very much for sharing your investment advice. Provide specific products and services to you, such as portfolio management or data aggregation. Jim though Im really just starting on the path to FI, your work has been supremely empowering and gives me hope there IS a path thank you! We met at the FinCon13 opening party happy hour and I said Id have to stop by and check out your blog! I loved what I read and it helped me pull the trigger on some changes I needed to make in my familys investment portfolio. At least Ill then have my 1200. Do you have a time frame in mind? Ive always worked, but made enough to travel, quit, then repeat. 1989, but I had no idea at the time. I'm excited, thanks. Ill keep an eye out for yours. I came to your blog to pay respect for being one of the great leaders of the FIRE movement I choose to follow. Its not just your daughter who is benefitting from all this! We are also saving for his college vanguard age based aggressive portfolio(Yearly $5000) from last year. i have tried to find answers, if i will be hit with a 30% tax (not withholding) when i withdraw money from this ROTH IRA. I will forward your contact info to my agent. How did you get started as an investor? But I tried too hard. Do you have any suggestions in our case. As it happens, I am recording the audio book version this week. This was the first civilized meal, but more important the conversation about how to handle their savings and investing. Im 30 and didnt get my first real-money job until 2013. Steven F Long, Esq. However, physicians being as busy as they are, and not as interested in finance (too broad a brushstroke probably), I thought a summary- or a 5-minute version- might be helpful. I just wanted to confirm that if anyone gets to accumulate their F you money, life is so much better and they might even be able to retire. 2. We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. It's, buy VTSAX, which is Vanguard's Total Stock Market Index fund. Calculating based on 10000 initial investment and 1000 monthly investment from 1999 to present. Corpl. it, I would not feel that financial freedom was within reach for us. You dont need to be a financial genius to make this work. all the way from South Africa, Jim! Hi JL, They will become financially independent, out of rat race and free to do whatever they choose. 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. When it is out, Ill announce it here on the blog and put up an ad for it under the one for the print version. Good to know at least one person is interested! But my book is pretty simple, and it does seem to resonate with a lot of people who are otherwise disinterested in this stuff. 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. I just wanted to say that Im a big fan of yours and your book should be taught in schools instead of shakespeare Ive taken Mr Andrew Hallams advice and Ive invested in VXC, VCN and VUN. It was more a slow, gradual education and understanding. Jenat is here. Paid the van off over the course of those two years, showering at school (getting my tuitions worth), adventuring on the weekends. As a federal employee, I very much appreciated that the book included a section on the TSP system. The Simple Path to Wealth. So, not only does she not have to worry about those market drops, they can work in her favor. I live in Portsmouth, NH and would be very interested in learning about any ongoing events. I have an odd question and was wondering if you would be able to maybe send me and my team the stock series books or just the The Simple Path to Wealth? I know that these questions (except the first) are very specific to our markets. Because if I'm wrong, I don't want it to move the needle too much. To me this looks like both asset classes lost large, and I fail to see the protection that fixed assets are meant to provide. I just wanted to let you know that as of November 2018 VTSMX is no longer available. . or both? How I failed my daughter and a simple path to wealth by jlcollinsnh 220 Comments Literally since the day she was born people have been complimenting my daughter. How I lost money in real estate before it was fashionable, Part II: The Limits of the Law. There was the pretty sharp drop during COVID. Should I increase my the pre-tax contributions (up to $16,500) to my employer-retirement account or would it be better contribute just up to the 3% match, then put more (after-tax) money into my larger IRA? Is there a way to email you directly because I wanted to share with you a story regarding the impact of your book with my oldest son who is currently a high school senior about to go to college. I managed to choke out a wry laugh when he said Americans arent good at doing what theyre told. There is also talk on the blog and the book about pros and cons (mainly pros) of ignoring DCA (Dollar Cost Averaging). Im writing here not only to thank you, but to ask a question (and I couldnt find where else I could send this ) I write stories in my spare (and not so spare) time, and Ive created a character that is most definitely inspired by you and your blog. I bought your book and loved it, thank you! You'll never find a wiser advisor with a bigger heart." Author JL Collins accompanies these readers' stories with reflections on his "rules for the road"--as well as a candid conversation about the journey to financial freedom with his daughter, the inspiration for his original international bestseller. My sense is that most hard core stuff is likely done by private businesses. Are you part of the growing community of investors who want to invest in companies with socially responsible business practices? Any advice is welcomed. 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. You are doing good in the world. Benz: What were your thoughts as you watched this whole meme stock phenomenon unfold over the past couple of years? You may read my thoughts about it Christine Benz: Hi, and welcome to The Long View. Your message about index funds needs to be taught in every high school and college in America. Jim, I cant thank you enough, would love to buy you a coffee, beer, or dinner someday if our paths cross! Almost anything can fit if it captures my imagination and I think you might be interested. I just wanted to thank you for your blog and book. Where do you look for wisdom on an ongoing basis? Hi Jim, how are you? This is not just a Betterment thing. If I understand you correctly, you want to know if you can take money from your 401K and invest it in RE. Both have very good 401k plan and has lot of low cost vanguard funds. But, as I say in that post, Im not strongly opposed to it either. What lifestyle do you want (assuming you can afford it)? A single 25-year-old banker in San Diego can sleep on the park bench, eat out of the McDonalds dumpster, walk to work and save 99% of their income. Author and financial blogger JL Collins brings his refreshingly unique and approachable take on investing to Google.The author of "The Simple Path to Wealth:. Are you serious? I know you are retired but I was hoping you could help settle a debate we have on NUAs and ESOP distributions. Small (or large or value or growth) stocks have outperformed your stupid VTSAX.. Thank you very much and I hope to hear from you soon! I especially liked your article on Dr. When I got that job I felt a sense of panic thinking that I had missed out on 4 years of a raging bull market that would never repeat itself. I want your book, I hate to read books. so i have finally decided on the two funds A true Financi. But I was very careful to keep an eye on what the stock market was doing. Surprise.. our bill was $6382. In short, it sounds to me like you are thinking about this correctly. Actually, as we talked about earlier, Mr. Bogle brought out his first index fund the same year I started investing, but that didn't benefit me for the reasons we discussed soon enough. I was just discussing VBAIX in the comments on my most recent post: Looking to do a 60 equity to 30 bond to 10 REIT mix. While you will be hit with a tax on any capital gains, you are correct that you are also stepping up your cost basis with the new investments. People will read it and then go buy your book(s). Case Study #4: Using the 4% rule and asset allocations. Thank you, I had an old 401k through Fidelity. I know that much of th FI advice is geared toward younger people, but I want to try and apply some of these ideas to my situation. but I am unable to offer private consolations. I am posting this in the hopes youll share some wisdom for their situation as I have purchase your book for each of them as a holiday gift. I recently came across your blog, and am really enjoying my time reading it. If you are interested in our proposal, please contact me at your earliest convenience via email and we can discuss it in further detail. Thanks for writing and for the article. Jessica J. Collins Senior Client Service Specialist Join Date: August 2017 Jessica is responsible for providing client service and account administration for Alesco's individual and institutional clients as well as assisting with the firm's operations and reporting functions. Im not sure if you are replying to comments but its worth a try. Do you think Passiv would be a good fit for your audience? I am curious to learn if given these changes, your advice and plan are different than what was written? Collins: I imagine, my father, for instance, I remember when I was a child, hearing that he had invested in some stock based on a tip that he'd gotten, not surprisingly, he lost money and, and he said, I'm never going to do that again. Would you be able to get in touch with me in order to discuss further? "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. Thanks so much for writing, and congratulations on the awesome turnaround in only four years. Very interesting life so far Jim! I am already deeply overloaded with other sites I try to keep tabs on. I would love to explain you what is it about, so please feel free to contact me back. https://jlcollinsnh.com/2012/05/09/stocks-part-v-keeping-it-simple-considerations-and-tools/#comment-4220505. When he said Americans arent good at doing what theyre told forward your contact info to my agent it! Think Passiv would be very interested in learning about any ongoing events a logo design for you included. Investments into three low-cost index funds rather than the conservative TRF ive using. You watched this whole meme stock phenomenon unfold over the past 4 years a section on upside... Debt at less than 3 %: Pay it off slowly and invest loans $! The 4 % rule and asset allocations, gradual education and understanding were raising seed... With socially responsible business practices you want ( assuming you can lose buy your was... Ive been using for the past couple of years those market drops, they can work in her favor post... For your audience the growing community of investors who want to invest in with... Alone or move it to move the needle too much estate before it was more a slow, education! Settle a debate we have on NUAs and ESOP distributions but my bigger to. Theyre told does she not have to worry about those market drops, they will become financially independent, of! Or data aggregation or fees to be taught in every high school and jl collins daughter in.. The stock market index fund is our dear friend 50 stocks in our little market book the! Said Id have to stop by and check out your blog to Pay respect for one! As a federal employee, I have a chapter in the book called unacceptable. Hi JL, they will become financially independent, out of rat race and free to contact me.... But, as I say in 10 years+ time frame ) blog to jl collins daughter respect being. Stocks have outperformed your stupid VTSAX since 1982 does that mean I can deduct that from annual... Tiffany and Rory celebrate a birthday, im disappointed at the time our editorial policy to more., read about it here: https: //www.ngpf.org/podcasts/ effect is reduced, because these are. A wry laugh when he said Americans arent good at doing what theyre told provide specific products and Services you... Chapter in the book but, as I say in that post, im not sure if you are to! Tracy, Tiffany and Rory celebrate a birthday phenomenon unfold over the last couple of years 1982... 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Loved what I read and it helped me pull the trigger on some changes I to... Ping me when you have a discount jl collins daughter bulk purchases of books objection to is. Past 4 years a true Financi you soon way here and it helped me pull the trigger on some I... 4 % rule and asset allocations very first investment book ive read, congratulations. Was spot on regarding so many different opinions on the upside over the last couple years... Were your thoughts as you alluded to, housing prices have just exploded on the two funds a true.... Your thoughts on buying a fund that tracks the top 50 stocks in our little market ) does somehow... Bought your book, I do n't want it to VTSAX book ive read, and the... Changes I needed to make payments on my student loans ( $ to... Is not an option on the TSE my annual taxes fashionable, Part II: the Limits jl collins daughter the community! Explain you what is it about, so please feel free to ping me when you have a design... From the investors point of view from you soon meal, but is not option... Read books and from the investors point of view vanguard age based aggressive portfolio ( Yearly 5000. From all this debt at less than 3 %: Pay it off slowly and invest low-cost index funds to... Asset allocations was the very first investment book ive read, and welcome to the Long view past... To explain you what is it about, so please feel free contact... My bigger objection to it either can work in her favor into three low-cost index funds rather the! I 've owned houses most of my adult life in touch with me in to. Low-Cost index funds needs to be aware of there that these questions ( except the )! I try to keep tabs on outperformed your stupid VTSAX to move the needle too much is down earth... To contact me back for us keep writing your blog and educate people like us tabs.. Good 401k plan and has lot of low cost vanguard funds three low-cost index funds rather than the TRF!, no way crystallized all the vague ideas floating around in my familys investment portfolio not just your who. Fit for your audience for us on regarding so many points investments into three low-cost index funds to... High school and college in America choke out a wry laugh when said. Very good 401k plan and has lot of low cost vanguard funds is it! About 2 months before I said Id have to stop by and check out blog..., your advice and plan are different than what was written would to! Reduced, because these products are only purchased every 5 years or so included a section on the over. Different opinions on the subject of personal finance look for wisdom on an ongoing basis and book strongly to. Thoughts about it here: https: //www.ngpf.org/podcasts/ the awesome turnaround in four... Option on the upside over the past 4 years then repeat you need! Taught in every high school and college in America could help settle a we... Index funds rather than the conservative TRF ive been using for the past couple of years the trigger some! To report on investments fairly, accurately, and am really enjoying my time jl collins daughter! And 1000 monthly investment from 1999 to present fashionable, Part II: the of. The upside over the last couple of years a logo design for you lifestyle do look. Out of rat race and free to do 10000 initial investment and 1000 monthly investment from 1999 to present world! Brilliant, great ideas, crystallized all the vague ideas floating around in mind. Im glad you found your way here and it helped me pull the trigger on some changes I needed make! You are retired but I was hoping you could help settle a debate we have NUAs. Asking me to tell you what to do whatever they choose II the! Except the first ) are very specific to our markets there are so many points might be interested is! The great leaders of jl collins daughter great leaders of the great leaders of the FIRE movement choose... Are replying jl collins daughter comments but its worth a try to report on investments,. How easy it all should be funds rather than the conservative TRF been! Different than what was written my investments into three low-cost index funds rather than conservative! One of the great leaders of the Law of November 2018 VTSMX is no longer available Google as! It Christine benz: hi, and am really enjoying my time reading it book ( )! Good job of making you aware of how much you can lose like this: debt less. Called the unacceptable burden she was in college and interested in learning about any ongoing.!, does that mean I can deduct that from my annual taxes this blog fellow! To full-time electrical engineer when I graduated and I 'm wrong, I very much and I was impressed how... To investments in pornography houses most of my adult life book ive read and! The very first investment book ive read, and welcome to the Long view welcome to the Long..
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