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So, I think 4% is a pretty reasonable and fairly conservative number. Thanks for keeping it simple and safe for people like our Fire fighters. So, you're adding a little bit of extra cost, and you're adding something that, at this point in our history, I don't see a need for. A percent of your net worth, the minimum starting at 70%. Some of these organizations can create the ethical change you want. Its expense ratio is 0.15 similar to Target retirement funds. For more see: https://jlcollinsnh.com/2015/06/02/stocks-part-viii-the-401k-403b-tsp-ira-roth-buckets/. Let me know of what time works best for you here. One solution would be to pick individual stocks that fit your criteria, but you would really have to keep track of them, both from an ethical and performance standpoint, also unless you had a large sum to invest it would be hard to achieve diversity. Do you accept sponsored posts on your website? Should I keep it with Fidelity or would it be better (or even possible) to move that over to Vanguard? is visiting Mrs. W. V. Atkins. I am not seeing the amount of shares that I own growing. Thanks. Thank you, Heres an archive showing my previous 100+ guests: https://www.ngpf.org/podcasts/. 2016 by J L Collins (Author), Mr. Money Mustache (Foreword) 8,395 ratings Kindle Edition 7.01 Read with Our Free App Audiobook 0.00 Free with your Audible trial Hardcover 17.99 4 New from 17.99 Paperback Thanks for all your content! But the truth is that houses more commonly don't rise in value much over inflation, and sometimes they struggle to do that. Maybe the answer is: There is some effect, but because of conditions x, y, z this effect is small or not relevant to a normal life. Your email address will not be published. Speaking of the enjoyment of hardship, if you put your tale of woe to music it would make a great country/western song, .you know the ones your ex-beautiful blond girlfriend probably liked. Jenat is here. You can, but since you are under age 59.5 this will be a taxable event and youll pay a 10% penalty. Stocks -- Part XIV: Deflation, the ugly escort of Depressions. Would renting a 1BR/2BR be more frugal vs buying when all is said and done? My guess is likely not. My agent is working with publishers around the world and the rights have already been sold in several countries. I have forwarded your contact info to my agent. Ive read a ton of books on personal finance, investing & money, but theres ONE book I always recommend to others when asked which one my favourite is Simple Path to Wealth is just without a doubt the first book I punt! Ptak: A lot of your readers look to you to share wisdom on how they should approach their financial lives. And dumbly, I sold it. I would like to request a review copy of The Simple Path to Wealth since we are interested in potentially featuring an excerpt from your book in the next issue of the digest, which goes to print on Thursday, Oct. 6. https://jlcollinsnh.com/2014/06/10/stocks-part-xxiii-selecting-your-asset-allocation/, Haha yeah, you almost had me fooled with the April Fools post! So, I'm not a fan. Painfully, I will have to consider the paid sales charges as costly mistakes. You''ll never find a wiser advisor with a bigger heart." That is my response to your book that I tripped over in Amazon, downloaded and read in 24 hours. You're going to furnish it and most people when they buy a house are buying bigger space than what they were renting. But I still feel kind of odd about this. Plus, I heard Buffet comment on having his fortune goes to his wife to be invested in the S&P., but I think youve mainly touted the Total Stock Market indexes. As for the US market, it was already well established by the time indexing arrived in 1975. I apologize as I think my original email was submitted incorrectly. But now Im curious. I came across your site and I think it can be a great fit for my This means that Vanguard's interests are directly aligned with the interests of its investors. Hello. Very similar to the build-up to the 2008 disaster, in which every square inch of open land has been turned into mud, with cranes and construction vehicles proliferating like ants. simple if it wasnt for the fact that we are now in Australia. thank you so much and i hope you keep updating your blog. Mr. Collins is currently traveling and unable to respond just now. Be sure to read the comments, too. Your guesting in ChooseFI is one of the most enlightening talks in investing. I love seeing stocks on sale now for the IRA I just started contributing to, but Im in a bit of a predicament as to when and how best to move everything into that one personal account. Many of these folks, and Jeff and I have interviewed several of them on this podcast, they focus on passive income, generating passive income, especially from property ownership to help fund their living expenses. It was so good I bought three paperback copies for my three daughters (24, 22, 19). Your book gave me hope and a new outlook on our financial future. I know vanguard is the best option today, but still uncertain if it should be roth or a regular brokerage account. I learned a ton, but most importantly I learned I was unhappy in that environment. Time Machine and the future returns for stocks, Kibanda: Mr. Anti-house buys his dream house. And I always cringe a little bit with strategies that involve compensating for people's psychological shortcomings, rather than the dealing with those shortcomings so they can do better. I am a finance professor at UNH and Ive always found it interesting how some finance professors agree with efficient markets until there is money to be made convincing others that there are in fact inefficiencies. That's just gambling. Jack Bogles books are a nice fit with mine. For example in the several years after 9/11 when you were not working, were you relying on savings in non-retirement accounts to get you by? Thanks for your interest. Collins: Well, before we cross him off the list, let me just say, he's a fiscal saint. I have been consuming a ton of information on the subject lately, the foundation of that pursuit being The Simple Path. He made Benzingas list The Best Investing Books for Beginners. Check out the link here https://www.benzinga.com/investing/best-investing-books-for-beginners/. I contribute 1000 monthly. if you wish I can help in order to get translated or released also the italian version of the book, just let me know. I have forwarded your contact info to my agent. Will be recommending the book to friends. I am turning 58 years old next week and my wife Lucy is 51 years old. 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. As I approach fi, I am really enjoying and inspired by your posts. It allowed me to see a financial path to enjoying my life more on my terms and values, so if you ever wonder if you are helping people with this siterest assured that you are. I am working on my emergency fund, I have about $10k in cash now in an HYSA. Now following up on the advice in the book, I was looking at the available data for VTSAX and have two questions: 1. This in theory was to save money on all the bulk knowledge I needed and to save the big bucks for the major level courses at the university and that nice crispy piece of paper college degree. It's the one that's garnered me the most hate, and it's the one that's also garnered me the most love. GBP or ZAR in 2008. I was introduced to your blogs through Frugalwoods website and I have enjoyed reading all your info. And I'm not going to build a portfolio of these things, because that's counter to my investment approach. Hamster. I think the problem comes when people say 4% rule. On the hunt for my next Finance book, I was recommended Your Money Ratios. 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. I can finally say that I can stop performance tuning in the investing department of our household and go back to learning more about photography which is much more fun. I agree with your calculations but the first question that has to be answered in non-economic. If you are interested in our proposal, please contact me at your earliest convenience via email and we can discuss it in further detail. I guess this topic would deserve an in depth exploration. Im not sure when it will be out from there, but it is definitely coming. by JL Collins (Author), Mr. Money Mustache (Foreword) Format: Kindle Edition 8,925 ratings See all formats and editions Kindle $11.99 Read with Our Free App Audiobook $0.00 Free with your Audible trial Great on Kindle Great Experience. ISBN-13: 978-1533667922. What's your thought on that strategy? Not much more to say on those topics that is not in the book. If you have any questions, please do not hesitate to let us know. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. Please give me 5 mins and let me tell you my story, and where I am in life. I am curious how you would deal with this? I managed to choke out a wry laugh when he said Americans arent good at doing what theyre told. . And when you say -definitely inspired by you and your blog- is this character supposed to be me? Have a wonderful nice and safe Trip!!!! I cannot imagine doing the same to one of my patients. And one of the highest compliments I get from people is that, Wow, I've tried to read a lot of finance books and finally, reading yours, this stuff makes sense. So, that's who I'm writing for. Dear Mr. Collins, During this time we realized a void in the #vanlife world for dedicated small solar specialists and so we of course started an LLC (Tiny Watts Solar) and formed a traveling solar business dedicated to powering all things tiny, van conversions, RV's, boats, tiny homes etc.. We bought a new 44 Mercedes Sprinter van under the business name as a company vehicle/depreciating business asset and had the capital to fund the build out. In short, it sounds to me like you are thinking about this correctly. Wow, thats an interesting perspective. Its not the assets themselves that is the issue, its how they are held. In case you or other readers may have missed this feature, one nice thing about the TSP is that the expense ratios are (at least as of this post) constant across all of the the funds, including the lifecycle funds. I am very interested in below title: The Simple Path to Wealth by J L Collins. Terms of Service apply. Spoke to you on Twitter about selling your books in Malaysia. I know youve done a post about rent vs buy but what would you recommend for the present day in NH for someone single and no kids? I thank you for this greatly. But what about something that's arguably even simpler, or is simpler in my mind, which is just to buy a target-date fund and call it a day? Does this mean that I can only invest in them with a minimum of $10K ? Opinions expressed are as of the date of recording. Please let me know if this can be arranged. Hi Jim, Collins: For instance, probably the biggest one of those kinds of things are the target-date funds have international exposure. 2. I started selling flyswatters door-to-door and picking up empty pop bottles from the side of the road for the 2-cent deposit. Im trying to figure out how to contact you and all of my comments go to spam. 6:10-10:03 J.L.'s sudden rise to fame. Money, JD Roth, Philip Taylor, and more. So, anyway, there are always times when houses can be made to look like the best thing that you've ever done. Programs cost on average 80K (with one state program that I may be able to get into that is much less). You didn't . Regrettably, I cant go it alone. I was looking at VSTAX on the vanguard site, and see that it shows a minimum investment of $10,000. This articles title, This Bull Market Could Be Here To Stay and the followup under the picture, Famed stock investor Jeremy Grantham suggests this time its different, just cracked me up! A big Hi! Our main goal is to educate and help the generation Z grow to invest, save, budget, and earn more efficiently. No one is more amazed than I. It was actually welcomed and consumed. Having money to travel in your 60s and 70s is useful. You wont need f- u money as JL Collins calls it because you wont have to say that to anyone. And if you're an investment professional, there's less opportunity to get a bigger part of the clients' money out of them. Pretty much in that order although Ive visited several more than once. Jackie Collins and her daughters (from left) Tracy, Tiffany and Rory celebrate a birthday. Also, Ive decided its the perfect graduation present for anyone in my life. I stumbled onto your blog this morning and have been reading since. Doc G was spot on regarding so many points. one way, If you total living expenses are 50,000 per year then you multiply 2550,000 = 1,250,000. . Made 18% in six months and thought Id wait for the stocks to stop falling. First thank you so much for sharing all your knowledge on building wealth. For someone young like my daughter, who's 27, I tell her all she needs to do is buy VTSAX, the Total Stock Market Index fund . If its not to your liking, Ill remove the character, P.S. Wait for them to fall again? I made it through 5 years at community college getting all my math, physics and chemistry out of the way before transferring for my upper level courses. Happy New Year! 1. Having said that, when I last hung up my last corporate job, I think my withdrawal rate was about 5% because my daughter was in college at the time, and I was comfortable with 5%, because looking at the Trinity study, 5% has an extraordinarily high success ratio. Meanwhile with each dollar you put toward the debt the lower your interest rate burden. A Dow Jones index could suffice as it involves no tobacco or alcohol companies? Stocks -- Part XVI: Index Funds are really just for lazy people, right? My first real job was in an ice cream parlor, although I spent most of my time in the back scrubbing out the big metal ice cream cans. but remind me never to play pool with you for $$. But your teachings have shattered that notion. On most of the money that we put into American Funds, we paid the princely sales charges. have around 95K in 401k, started 2012. this is in addition to my non-US investment. Or please let me know which agent we need to contact? And, of course, I talk about the wealth-building power of stocks. 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. The blog is best known for the Stock Series. People will read it and then go buy your book(s). Itsabout what has worked for me and what has kicked me in the ass. Ive recently looked back and I can say, Im disappointed at the results. From there: Busboy, dishwasher, order-puller, grocery bagger, stock clerk, produceclerk and gas station pump jockey back in the day when someone pumped your gas, washed your windows and checked your oil for you (ask your grand parents). 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