The man is a legend, and no mistake.

MeaningfulMoney he definitely is!

Me too, the book changed my life. I'll always listen and be thankful to him.

Same here 1 year later :D

My friend is not late at all! I’m on my 30s and starting now!

It also depends on your savings rate and how much you'll need to retire.

I wish I had the sense to begin as soon as I was working. All that wasted time. I'm making amends now.

Me too - can you tell?!

@@PeteMatthew I would never have guessed - you hid it so well :)

I know, right?!

That’s a great book too, Liam, for sure…

Yep, that's right

Doesn’t need to be anything flashier than that - it’s worked for decades! Thanks for watching 👍🏻🙏🏻

Always remember that savings rate is a goal, not an absolute necessity. Some people include their employers' contributions in their savings rate - I generally don't. Also remember that DB benefits are completely unrelated to how much you put in. If I were you, I'd just decide what you want to save total and then take the 14.5% off and go from there. What matters is what you'll get out at the end, which is of course unknown as far as DC benefits are concerned, but known for DB benefits. Check out the Planning With Purpose season on MeaningfulMoney

Well, VTSAX is the S&P500 tracker that Jim likes so much. Nearest equivalent here is probably VUSA: www.vanguardinvestor.co.uk/what-we-offer/etf-products VBTLX is a bond fund. There’s no direct equivalent allowing UK investors to invest in a broad US bond index. FWIW, I think that UK investors should follow JL Collins’ general suggestion but track global markets instead of just US markets. Global stock fund is called VWRL and global bond fund is called VAGP. Just Google them. None of those are a recommendation, mind - other tracker providers are available!

@@MeaningfulMoney thank you.

I suggest you read the book. Do NOT begin investing without understanding what you're getting yourself into. Buy beware, always

Grassology4610 Whatever the min is. Dollar cost averaging is just buying that fund/stock of whatever regardless of price. But most important is keep buying like every month. So you get the current price plus you get low prices that average out. For example you bought one share of something for $100, The following the you buy the same thing for $80 that you have dollar cost average to 90

Start small and buy fractions of shares- the ETF version

Minimum when I bought into VTSAX was 3k. Allegedly the best dollar cost averaging strategy is weekly on Monday. That's what I do.

Yes, but that's a US-domiciled fund and is $-denominated. Not ideal for UK investors. The nearest UK equivalent is The Vanguard FTSE Global All Cap Index Fund

I can’t make fund recommendations here, Walter. But I imagine a fund like that would do a similar job to VTSAX - not sure if you’re US or UK based - that will be a factor in which funds you might look at

Good question, Jack. Basically you’re correct - if you invest in a UK Sterling denominated version of that fund you are factoring in exchange rate conversion and this is an added risk. Investing only in the S&P500 makes more sense for Americans that for others I think. Personally I’d invest globally every time

@@MeaningfulMoney thanks Pete! I’ve listened to many many hours of your content after discovering your channel a few weeks ago. Implementing lots of changes! Thanks so much for all the useful info. Jack

Jack, I think what JR was trying to say that his preferred investment of a US Total Market Index Fund may not be as appropriate for other investors around the world than he believes it is for Americans. It's not that he's saying it would be inappropriate, he just doesn't know. As a Canadian I actually have the majority of my self-managed investments in stocks & ETFs denominated in US dollars. For me its just another form of diversification but it does increase currency-related risks. I just like not having all my assets denominated in Canadian dollars.

It’s a US- domiciled fund and invests purely in the S&P500 index, which I’d never do personally. Many UK FIRE followers opt for the Vanguard FTSE Global All-Cap Index fund - code is VWRL

@@MeaningfulMoney I wasn't able to invest in VWRL in my brokerage so that's out for me. But I did find Jim mentioning VTWAX in part-xxxv of the stock series as a world fund for the future. It's still heavily weighted to the US market though. jlcollinsnh.com/2019/03/03/stocks-part-xxxv-investing-for-seven-generations/

@@MeaningfulMoney VWRL is an ETF, the ftse all world. Globally all cap is slightly different

@@aaron___6014 try M1 finance- they carry ALL the vanguard ETF’s

You mean your portfolio is now 20% vanguard total international index and 80% vtsax?

70% VTSAX, VTIAX 20%, VBTLX 10%

@@yugarithen4342 nice

That's the lazy path and likely easily lost wealth to boot.

@@yasuewho480 Correct. 90% of trust funds do not last 2 generations. So maybe a great life for the self-absorbed person, but history bears out that not thinking of your grandkids is selfish.

That’s the path to running out of money. Don’t be a victim nor make excuses. Wealth building is the way of the tortoise

@@aeksinsang932 My thoughts exactly

That’s only part of his advice, and mine. Risk is a function of time also, so if you have the time to allow markets to come back then so be it, but if not, then the volatility needs to be mitigated.

@@MeaningfulMoney a particular stock market doesn't get less risky with time.