Why Financial Independence ISN'T Just for the Rich w/JL Collins

Рет қаралды 34,161

Күн бұрын

Episode #486
JL Collins is one of the most respected authors in the financial independence community. His book, "The Simple Path to Wealth," became the FIRE movement bible, giving clear, concise, easy-to-follow, and often unbelievably simple advice on achieving financial independence and retiring early. One of the most striking lessons from the book? You DON’T need to be rich to retire early or build wealth. Whether you make $40K or $400K per year, you can start building your financial freedom TODAY.
Since its publication, "The Simple Path to Wealth" has inspired millions of people to find financial freedom, and many who have achieved financial independence or are well on their way have been in contact with JL. In his new book “Pathfinders: Extraordinary Stories of People Like You on the Quest for Financial Independence―And How to Join Them,” JL shares stories of the rich, poor, and even bankrupt readers who were able to turn their lives around and find financial freedom, no matter their circumstance.
So, if you’ve been telling yourself that you CAN’T retire early because of a low paycheck, dire financial situation, or expensive lifestyle, think again. In this episode, JL will show you EXACTLY why YOU can be rich IF you follow some simple steps on the path to financial independence!
Show Notes at:
link.chtbl.com/Money
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Hear Our Past Episodes with JL:
Episode 20: www.biggerpockets.com/blog/bi...
Episode 116: www.biggerpockets.com/blog/bi...
Episode 285: www.biggerpockets.com/blog/mo...
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Pathfinders: www.amazon.com/Pathfinders-Ex...
The Simple Path to Wealth: www.amazon.com/Simple-Path-We...
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Learn More from JL:
jlcollinsnh.com/
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How Has The 4% Rule Held Up Since The Tech Bubble And The 2008 Financial Crisis?
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00:00 Intro
00:59 The Repeatable Path to Wealth
04:26 Getting Started with FI
07:46 FI Isn’t Just for the Rich
17:05 Escape The Lifestyle “Trap”
25:53 The Problem with the 4% Rule
36:02 When Everything Goes Wrong
39:34 What to Do NOW
42:34 Grab “Pathfinders”
44:00 Financial Freedom for EVERYONE

Пікірлер: 57

@PJBHolden 6 ай бұрын

I was happy to retire at 62 considering there is so many “experts “ saying you need to work til 70 +

@einstein1102 Ай бұрын

Even if we remove all the wisdom this guy is sharing, I could still listen to JL Collins' voice for days lol

@ceciliahorvath7488 Ай бұрын

When he started talking I imagined him narrating: “The Universe 6 million years aho was a vast field of stardust…” 😅

@lbslott 7 ай бұрын

I absolutely love what he did for his daughter! 🥺

@troymann5115 7 ай бұрын

I needed to see this. The tech bros on reddit kept beating me up for not agreeing with a high tech-based salary being necessary to retire early. My parents were poor but they achieved FIRE in their early 40s. Besides, who wants to be a HENRY, making all that money but still balance sheet poor?

@Madchris8828 7 ай бұрын

Exactly. 100 percent agree with this. I've been fortunate enough to have some family friends show me the wealthy lifestyle, I personally thought it was kinda cool, but very overated. I'd rather live simply and accumulate over time without having to worry about my Lamborghini for example needed parts that make me broke, lol.

@szabolcstrucz2220 Ай бұрын

Poor means you have nothing to eat and are struggling to pay bills.

@bolts59422 7 ай бұрын

Awesome to hear from JL again on the podcast. Just ordered the new book!

@Monkey-oy1us 7 ай бұрын

Great episode! Perfect for beginning the new year!

@christinab9133 7 ай бұрын

AMAZING!!! So excited to JL with you guys 😍🤩🙌👏

@divake22 7 ай бұрын

Awesome podcast! His blog changed my life! ❤

@jvb6961 5 ай бұрын

Excited for the book. The simple path to wealth has shaped the way I think about money

@sameersmerchant 7 ай бұрын

Awesome episode. Love JL

@zackharris01 7 ай бұрын

Great episode! I loved Simple Path, so I'm definitely excited to check out Pathfinders as well. P.s. It's a bucket list item for me to come on this podcast with you guys once I've reached a "podcast-worthy" point in my own FIRE path lol. Maybe one day!

@kiltedpiper98 7 ай бұрын

Great episode and great reminders.

@frankpapi9764 7 ай бұрын

Perfect way to start the year

@Savannah-ed4rv 7 ай бұрын

Very cool anout Tom working at the Henre Ford Museum! I live in the area and it's a fantastic place to go. I never knew about the farm! It sounds like a wonderful place to be 😊😊

@muhammadsaddique5056 7 ай бұрын

Awesome!

@kwokweng76 7 ай бұрын

Awesome video

@FIRED13 4 ай бұрын

Thank you guys. It would've been so much more fun having podcasts like this when I started doing/investing decades ago.

@FIRED13 4 ай бұрын

One of my lifetime hobbies is investing, so I naturally look at account balances and smu stock portfolio almost daily

@kellylee514 6 ай бұрын

Great info. So … this $2.5 mil. I realize that depends on a lot of factors but what age range is that a good #?

@davidbrooks8809 7 ай бұрын

What do you think about Dave Ramsey saying 4% is too conservative he likes 8%

@Vorheez_thegreat 5 ай бұрын

If you’re asking that question and investing your doing better than most. I would plan for 4% and if you get to live off more cool!

@holdencawffle626 4 ай бұрын

Dave is an egomaniac jackhole Always has been always will be

@HeartxD 7 ай бұрын

Hi MaM really nice video.i was wondering if i could help you in editing your videos and making shorts out of them

@g2gris29 6 ай бұрын

Would annuities be recommended to protect against outliving your money? Anthony Robbins seems to believe more in annuities than in a 401k. Would love to hear thoughts about this.

@grigorirasputin425 5 ай бұрын

Anthony Robbins also probably has one to sell to you

@ianwhittaker3041 7 ай бұрын

Has anyone done any studies between VTSAX and an S&P500 fund, and which is better fund to buy long term?

@reggieanderson2275 7 ай бұрын

I have had both funds since 2017 and find them to be virtually the same in terms of their performance in the market. As far as which would be better long term I honestly believe you'd get the same results. I'm pretty sure JL Collins has said as much.

@Minimalist-Lifestyle 7 ай бұрын

@@reggieanderson2275 My recollection is that JL Collins has a preference for VTSAX (or VTI), but he's also quite comfortable with an S&P500 ETF.

@truesurf 7 ай бұрын

Noticed the same thing. I've simplified mine with FXAIX through Fidelity. I think you'll be okay with VTSAX or a SP500

@twocds4751 7 ай бұрын

Thanks for the info!

@grigorirasputin425 5 ай бұрын

Studies?😂😂😂😂🤡🤡🤡🤡🤡

@redv0472 5 ай бұрын

Is there European examples in there, as this is much easier to do in US?

@ceciliahorvath7488 Ай бұрын

I would be interested in that too!

@suracharawirojratana8723 6 ай бұрын

Thank you for sharing another SAD NEWS of another great American company has gone WOKE!!! GO WOKE GO BROKE 🙏🙏🙏

@Vorheez_thegreat 5 ай бұрын

Just started the video fill me in.

@miguelmarquez6206 7 ай бұрын

Making 48,000 and living on 12,000$ is possible. Easier to do it outside the US. 😉

@jtowensbyiii6018 6 ай бұрын

Well ya if you live in bum fuck no where, but 99% of society that isn't an option

@miguelmarquez6206 6 ай бұрын

99% of the world is not the US or Canada.@@jtowensbyiii6018 There is a good life beyond those borders. There is always a way. You will find it soon. Don´t despair.

@ukjw2 6 ай бұрын

Sounds miserable. Just so ya can sit around and retire poor

@PJBHolden 6 ай бұрын

Or in your moms basement

@dstevens518 5 ай бұрын

@@jtowensbyiii6018Like one pundit likes to say, " Normal is broke". Do what you have to do, and you can have FI too.