NGPF Podcast (Classic): JL Collins on gaining financial independence through a simple approach to investing
This is the most popular NGPF Podcast ever which is why we have pulled it from the archives. Enjoy JL's advice on gaining financial independence through a simple investing strategy.
It started out innocently enough...he wanted to write letters of financial advice to his daughter. J.L. Collins never imagined that his blog would become a favorite source for the financial independence movement. His knack for storytelling and simplifying complex topics has boosted his blog popularity to over two million page views per year and convinced him to write a book, The Simple Path to Wealth. Hear how this proponent of index investing (his Stock Series is a must read for those who want to increase their investing knowledge) throws financial rules of thumb out the window and offers advice to teachers on how to best teach concepts, like retirement, to students. Enjoy!
- 0:00–1:10 Introduction
- 1:11–4:20 Starting his blogging career in retirement
- 4:21–6:09 The philosophy of financial independence
- 6:10–10:03 J.L.’s sudden rise to fame
- 10:04–13:46 The 4% rule
- 13:47–17:46 Great things take time—three years to be exact
- 17:47–23:40 J.L.’s advice on investing: the simple things are the most worth it
- 23:41–30:11 As long as civilization exists, index funds will continue to prosper
- 30:12–34:34 Wealth creation stage vs. wealth preservation stage
- 34:35–35:02 A word from NGPF
- 35:03–40:46 How bonds smooth the ride
- 40:47–49:50 Throwing rules of thumb out the window
- 49:51–51:25 J.L., a master storyteller
- 51:26–57:14 Saving for retirement is just a different way of spending your money
- 57:15–1:00:12 Collins’s Chautauquas
- 1:00:13–1:02:00 Conclusion
- Blog: jlcollinsnh.com
- His first post: The Monk and the Minister
- Stocks — Part III: Most people lose money in the market
- Stock Series
- The 4% rule from the Trinity Study
Index funds that J.L. owns:
- “You can spend your money on a lot of different things… and you can spend that how you wish… I think the most powerful thing that money can buy is your [financial] freedom.”
- “10:30 Financial independence is not about what you have, but it’s very much about how much money you need. And it is the balance between those two things that determine whether you’re financially independent or not.”
Over 5 million have played the Arcade game STAX and competed against the computer (and their classmates). The computer wins 80% of the time and they quickly learn about the value of investing in index funds. Find STAX and other Arcade games here.
Close out Financial Literacy Month with hundreds of other teachers at NGPF"s National Conference: Financial Wellness Beyond The Trends on April 30, 2022. Register for one or more workshops here.