JLCollinsNH - The Importance of F-You Money

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11 жыл бұрын

www.madfientist.com - In this session of The Mad Fientist Financial Independence Podcast, I had the pleasure of speaking with Jim Collins from jlcollinsnh.wordpress.com.
Jim accumulated enough money to retire over 20 years ago but rather than pack it in and call it quits, he instead used his "F-You" money to work on his terms.
If you are interested in investing, this is the podcast episode for you. Jim has been investing since the 1970s and in the interview, he shares some of his biggest mistakes, stories from his time working at an investment company, and his recommendations for successful investing.
Jim shows that reaching financial independence early in life is not as difficult as it seems and he describes the tools and techniques he used to get there.
Highlights
- The Importance of F-You Money
- Surviving Black Monday
- Don't "Swing for the Fences"
- Active vs. Passive Investing
- Why Vanguard?
- Three Simple Steps to Financial Independence
www.madfientist.com/jlcollinsn...

Пікірлер: 49

@avijami Жыл бұрын

I cant believe this chat is now 10 years old. Something that influenced me deeply when i first heard this in 2015. And probably my first foray into the world of personal finance. Very thankful to the Mad Fientist and this quality of man named JL Collins.

@100fold5 5 жыл бұрын

Had to come back to this podcast. Keeps me motivated especially since Im starting later in life.

@BarbellFinancial 2 жыл бұрын

Brandon, I am forever indebted to you for getting me started on my financial independence journey a few years ago. You helped me learn how to shape my behavior towards money to reclaim decades of my time. You’re a legend.

@madfientist 2 жыл бұрын

Really happy to hear that :)

@Nonduality 3 жыл бұрын

First things first. First, say FU to every excess in your own life, whatever that may be. After you've done that, do it again. Then do it a third time. Now you're ready to say FU to everyone and everything else.

@TheDeStefanoGroupArizonaRealty 5 жыл бұрын

I'm listening to this after being so extremely frustrated with my employer. I'm very impatient tonight and excited about being able to walk in and 'leave' because of my FU Money.

@QQQBall 3 жыл бұрын

Depending how bad you job is, you might find its easier once you dont have to do it. One of the big points in the podcast is you dont have to have the ultimate F-U money saved, but plenty to have more freedom.

@WilliamBarryRoberts 2 жыл бұрын

Well, did you walk in and quit???

@Jafrica35 4 жыл бұрын

This man has just changed my life! Thank you fine sir!🤨👌

@YoungGrizzly 4 жыл бұрын

Thank you for this. Just discovered Jim and then found your videos. Thank you for your work.

@FIRE_in_the_NHS Жыл бұрын

OMG, video interrupted by an ad from Grant Cardone... 🤣

@livangel8176 6 жыл бұрын

Great information, thank you for this awesome podcast. You probably saved me from some financial losses.

@christinab9133 2 жыл бұрын

Listening again! So great!

@joshuamorris2908 7 жыл бұрын

I really appreciate it thanks for sharing.

@andrewe.7907 6 жыл бұрын

Truth! Was talking about my 2006 Accord today. I'd like something newer (used of course), but can't get rid of this car b/c it runs so well and I have zero payments on it.

@Dakkaroni 5 жыл бұрын

Is it still running?

@Naah732 Жыл бұрын

@@Dakkaroni that's a Honda of course it is

@jasonbear1336 5 жыл бұрын

Smart man Jim Collins read his book great read!

@freeme123go 10 жыл бұрын

Thanks please do more!

@romainlorek3293 10 жыл бұрын

Great Podcast Bandon!

@brightful5 8 жыл бұрын

thanks I appreciate your post man jeremy from jersey

@Condorsat10 4 жыл бұрын

Good advice at the end of interview. "Avoid debt, live on less than you earn and invest the difference". I would add own your own home (no mortgage) but JL Collins would disagree.

@MicahBuzanANIMATION 3 жыл бұрын

The home ownership advice is too situational to be a general tactic like avoiding debt. Home ownership is a huge liability and gamble.

@joycedominguezj.westwade9918 8 жыл бұрын

thank u so much for ur podcast. ur a treasure

@TiagoRamosVideos Жыл бұрын

Great! 👌🙏

@elizabethdjokovic2691 3 жыл бұрын

Another thing you can add to the investment mix. Learn skills like cooking and how to fix things so you spend less money. Owning a house is a really good thing too. I can see his point about renting but it's not for everyone.

@rajvo7406 2 жыл бұрын

Owning a house in non English speaking countries, where you don't have to pay rent to the government to live in your house, is almost always better than renting.

@dgw3650 Жыл бұрын

this was such good advice before inflation became such a concern

@judiness101 9 жыл бұрын

Very good podcast indeed!

@jeffopel588 2 жыл бұрын

30 + years ago I heard the term on Howard Stern. Not sure where he got it?

@czjim1 6 жыл бұрын

Black Monday ain't anything compared to "that desrving wife" divorce

@spinachmao 5 жыл бұрын

Is there a way to listen to your podcast on a device using Android?

@madfientist 5 жыл бұрын

Yes, it should be on Spotify, Stitcher, etc.

@user-td7xf3gz4l 5 жыл бұрын

KZfaq

@user-jc6tj2xt1p 4 жыл бұрын

29:40 - light bulb moment

@ohad157 7 жыл бұрын

Great podcast! F*** U Money makes you Anti fragile! That's what it's all about.

@choose1percentbetter Жыл бұрын

❤❤❤

@Francisco-Danconia 6 жыл бұрын

My personal strategy is to value invest in volatile commodities like orange juice and probably bellies. They can't go to zero, and have great fluctuations throughout the years due to seasonality and weather conditions. I think buying the overall market is a wonderful idea too. Slowly building wealth with the right assets is just what makes the most sense to me now.

@user-jc6tj2xt1p 4 жыл бұрын

Cute username! 😂

@buzwad 5 жыл бұрын

Spoiler alert: the "you" in F-you is one's employer. You're welcome!

@jeffreyrichardson 5 жыл бұрын

I was not to impressed with Vanguard in the late 1990's. It's performance has rebounded as always. Buy low and sell high.Some customers still wonder why! Every ten years troughout Wall street's conception, corrections and adjustments will occur .

@ultramarineization 6 жыл бұрын

sure, if you invested in stocks the late 80s you're up 10x. and that is just plain average. but there is no guarantee to that, there have been multiple stretches of 20+ years that would yield no profit.

@HappyCleanersWA 5 жыл бұрын

That’s not true...

@user-td7xf3gz4l 5 жыл бұрын

1929-1954 no price appreciation in s&p 500. Go check the charts yourself before spreading false info Ai Em and Kyle

@user-td7xf3gz4l 5 жыл бұрын

1999-2011 no price appreciation in Dow Jones average

@MiamiHeat872 4 жыл бұрын

@@user-td7xf3gz4l 1999-2011? You skipped the peak in 2008. Moreover you're selectively picking ONLY the peaks to compare at. That's very shady.

@keshav4397 9 ай бұрын

is investing in vtsax and vbtax (80% and 20% of savings respectively, as per Mr. Collins) still advised as current after 10 years of this excellent interview? Many thanks

@freeme123go 10 жыл бұрын

Thanks please do more!