So, anyway, there are always times when houses can be made to look like the best thing that you've ever done. Thanks and I hope youre enjoying retirement! Hello Mr. Collins: Christine Benz does not own (actual or beneficial) shares in any of the securities mentioned above. Hello, Mr Collins. Its simply a matter of time. Im inclined towards Index investing. I was a case study of yours, #11 I think, a small business owner, back around 2015 or so. And it would be a valuable (to the rest of us, not to you) resource. I love you Brother! Collins: Jeff, that is the post that has been the most popular in terms of views. While Im no expert in investment options for those outside the USA, people have found value in my stock series no matter where they live. I spent the last year off from school and consistently invested a large portion (60-90%) of my income. Youre book was exactly what I needed to hear to re-spark my motivation towards FI. Hope to hear from you soon! I set out to start my own company Tiny Watts Solar and have since replaced my corporate salary and more recently even obtained health insurance ; ) An HSA with a high deductible ; ) Excited to use that too its fullest once I learn more on how to use it. J L Collins The Simple Path to Wealth: Your road map to financial independence and a rich, free life Paperback - 18 Jun. Thank you! And, of course, that was salvation for my mother. What is your take on a possible currency crisis? Is this valid reasoning or am I making an error there? PROSPECTIVE SURVIVOR PER YEAR $ 28,021.44, 2. We went into chapter 13 with 90 grand of debt. His first book, The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life was published in 2016 and has been an international best-seller. In all your articles, you talk about the Vanguard index funds you recommend, but never mention why you prefer those over the corresponding ETF, even if they have the same expense ratio. Thank you for giving that to me. Thank you so much for writing your book, The Simple Path to Wealth. Thanks again, I recommend your blog to everyone I care about. Jlcollins: I know that much of th FI advice is geared toward younger people, but I want to try and apply some of these ideas to my situation. Any words of wisdom? Keep writing your blog and educate people like us. Twenty years from now, it may be that if you bought a house in Detroit, maybe this is the new renaissance city, and you'll be the one who has done very well. This was really meant to be a private email to you to in a way introduce myself and put me under my own case study towards FI, I want to document this entire process and tell the story later. I would seek to find match money for your gift and then use the resource for financial education and leadership development. Right now I hold BNDX as well, since if Im going to add VXUS to balance out my national holdings I dont see why I shouldnt do the same for bonds. Id be honored to participate. A true Financi. Loved the book btw. Questions like yours fit best here: https://jlcollinsnh.com/ask-jlcollinsnh/. JL Collins, author of the famous stock series that later became one of the best personal finance books ever written The Simple Path To Wealth. I will be giving your book to my daughter when she turns 18. Also, if you think it deserves it, please put a 5-star review of the book on Amazon. But now I feel like such a fool. Thats the least I can do. I tried the retirement thing about 15 years ago,when I was in my late 30s. If yes, could you send us the PDF for further review? I have been intently trying to get my financial act together over the past few months so that at some time in the near future I dont have to worry if I want to take a vacation. Im anti blindingly accepting the industry propaganda that houses are always a great investment and renting is throwing money away. Now I am left wondering what have we done?!? Probably for the same reason I list Goa separately and Zanzibar separate from Tanzania. Have you considered doing a follow-up with Doc G, 12 months on? The good news is, in this day and age, there is so much great information out there about how to approach the market correctly and successfully. Collins: I think there's been a lot of hand-wringing about the 4% rule of late in the last few years, and it kind of reminds me of a few hundred years ago, theologians evidently were debating about how many angels can dance on the head of a pin. I came across your blog and thought Id reach out as we have similar audiences. You made me realize the following tenet: our past mistakes matter little compared to the decisions we make right now for our future. So, that's a new expense and tends to be a big one. Thanks for the kind words and for taking the time to comment. How do I send it? Any other advice for those in my age range? My parents didnt tell us shit about finances. Stocks -- Part XIV: Deflation, the ugly escort of Depressions. And from that point of view, for somebody who lacks discipline or doesn't even think about it, like my parents, owning a house long term can wind up being a valuable asset. Please let me know it this is a similar index! It's the sad tale of the very first piece of real estate I ever bought, which was a condo in Chicago. THANK YOU! From 1989 to 1995 my wife and I were taking unpaid sabbaticals. Since you have already read my book, you already know the answer to your question is one of the key themes in it. That is for you to decide, once you have learned enough to make an informed decision. I started a non-profit, ngpf.org, to improve the quality of financial education in high schools. Happy New Year! Although as Im just back from six weeks in Ecuador Im a bit late responding! Something to add if you ever do a new edition of the book is to point out that your (home) currency is not a reliable arbiter of wealth. Hello again Jim! . ETFs were created to make trading indexes easier and, of course, I am opposed to trading. im 36 now. , Your comment would be a brilliant Amazon review, if you were so inclined . What format are you planing to use? I have forwarded your contact information to my agent. However I couldnt find an email for you. Im beyond curious what you make of todays volatility compared to when you wrote your book. Develop Your Skills and Talents By Shawn Jenkins and Jonathan Mendonsa Shawn Have you ever considered your career to be like a brokerage account for financial freedom? They are always a drain on your financial resources, not just with the mortgage, but with the taxes and with the maintenance. Ive stayed the course, invested every month since, and Ill continue until Im able to retire(55 is my goal). They will become financially independent, out of rat race and free to do whatever they choose. I reread the posts and still cant decide what to allocate! You can eat my Vindaloo, mega lottery, Blondie, Noa, Israel Kamakawiwo 'Ole, art, film and a ride on the Space Shuttle. Glad Scott and Taylor turned you on to my book and that it has been a help. Just recently discovered your website and so thankful I did! But it was still working. And if you have a property manager, you're going to have to manage the manager. Hello JL! And do you have a sense of how much more poorly these socially-conscious ETFs are likely to perform compared to VTSAX and VTIAX? i have tried to find answers, if i will be hit with a 30% tax (not withholding) when i withdraw money from this ROTH IRA. Now, we have zero debt, and several hundred grand growing in VTSAX and 401Ks and are on track to be completely financially independent within 7 to 9 years. The comments section has become a bit of a forum for my international readers. We arelooking forward to heard from you soon. Today I got an email from Vanguard announcing: Was in touch with Anna previously but it didnt work out. I am working on trying to set budgets and best way to track my finances and work on my retirement plan. Well, Brian gives a very succinct explanation of what the Federal Reserve is, certainly more so than I could do off the top of my head. Find out about Morningstars Chautauqua 2015 Reviews, 2016 registration open, Case Study #15: The Scavenger Life -- Freedom first, then Financial Independence, 3rd Annual (2015) Louis Rukeyser Memorial Market Prediction Contest results, and my forecast for 2016, Personal Capital; and how to unload your unwanted stocks and funds, Stockchoker: A look back at what your investment might have been, Case Study #14: To Dream the Impossible Dream (and then realize it), Gone for Summer, an important note on comments and random cool stuff that caught my eye, Stocks Part VIII: The 401(k), 403(b), TSP, IRA & Roth Buckets, Stocks -- Part XXVIII: Debt - The Unacceptable Burden, Case Study #12: Escaping a soul-crushing job before you're 70, Case Study #11: John, a small business owner in transition, Trish and Stan take an Intrepid Sailing Voyage, 2014 Annual Louis Rukeyser Memorial Market Prediction Contest results, and my forecast for 2015, Chautauqua February 7-14, 2015: Escape from Winter, Stocks -- Part XXVII: Why I Dont Like Dollar Cost Averaging, Jack Bogle and the Presidential Medal of Freedom. No tax or penalty. My point being, you haven't protected yourself from that drop you fear at all. 1945, LU 1 CRETIA COLLINS of 5123 A st. Your spouse encourages it. If you wanted to add international to your VTSAX/VTI holding you could use this. but would still like your feedback. All the best to you and them. Am 59years old and my husband is 60. Thanks for the kind words and for linking to my Stock Series in that post. Language: English S&P 500 ETF Funny how you can blow through a years wages in about 6 months when youre hanging out in poolrooms and bars every night. This is the price that I would have to accept if I sold the bond; however, in this scenario I do not have to sell the bond. Thanks in advance. Hanging on allowed me to retire in 2013 and Ive never been happier. But this is clearly not what happened for you and others recently. Not the case. I do try to look at the spam folder so the good ones dont get away. As they say, when the student is ready, the teacher appears, One article I came across today reinforces exactly what you said: Funny too,how something that used to be easy freewheeling fun,turns into a pressure filled job,when you do it to put food on the table.My game went to shit,losing to people I should have schooled,and I was lucky most nights to get away with just paying my bar tab. . Life, for the first time, has a clear path for me. . Well done! We have new alternatives that could help you do just that. The email goes on to explain that the new ETFs are Vanguard ESG U.S. Stock ETF (ESGV) and Vanguard ESG International Stock ETF (VSGX). Thanks for the reply, I kind of guessed you would answer in this way. I'm not going to go near that again. So, I think that's probably the reaction. They are looking out for their best interest and not the client. So during this 10 year period, I know that at least a part of my portfolio will be positive no matter what my investments in the stock market are doing (ie a good hedge). Have a wonderful nice and safe Trip!!!! Are there any columnists, authors, thinkers who you especially appreciate? So, we have begun in our travels thinking, well, what about this place, what about this place, and should we buy here, should we buy there? Once Im done, it will go to editing and final production. She is currently a high school junior and she is too busy with school work(5 APs) and extra-curricular activities. But when you stop earning that cash flow, and you decide to retire, whether you're taking a sabbatical, or you've come to the age where you're not going to work anymore, then you need something else, it seems to me, to balance out the volatility of stocks, and maybe to provide some dry powder to take advantage of the plunges. But you might also try to negotiate for a lower bill first. Who knew that a four-year-old would want to go through The Wall Street Journal with you, but there you go. The market will crash. I have expectations of using my tax-deferred IRA to support living and to make charitable giving in retirement, fulfilling the RMD annually. And the right attitudes that you need to have to do that. Keep going , you will became the next Jack Bogle! Heres a podcast episode to get you started: So thank you for all your insights and advice. So, you're never going to want to do any percentage withdrawal and just set it and forget about it--not only because you might run out of money, but even more importantly, and more likely, your money is going to grow far beyond that withdrawal rate. Collins: Jeff, there wasn't a road on Damascus kind of moment. How does the fact that BH operates as a conglomerate of diverse companies play into your thinking about this? I Olympus, Amsterdam, Bruges, Beziers, Portugal (Lagos, Porto, Douro Valley). In addition, if I do decide to take the lump sum of $200,000 it will be taxed. PERSONAL EXPESES: Food, DEBT payments and not much else. Adult life used to be so terrifying because I had just presumed that one had to work continuously until they were 70 in order to have a decent life. I'm taking notes as you're talking and I'm happy to say that we have a couple of these folks already booked on the podcast for the coming months. I'm wondering if you can give us a quote for this story maybe along the lines of: "The top 3 things I would do if I was 50+ and preparing to retire?. but no one seems to really know exactly what they are talking about so I am not confident enough to take the plunge and buy the shares. Keep up the great work! And, of course, it depends on the person who is reading it. Some of these organizations can create the ethical change you want. . Now you are asking me to tell you what to do. If so, is it a good idea to wait buying stocks till market drops such as these occur? As I point out in this post: https://jlcollinsnh.com/2016/08/16/what-the-naysayers-are-missing/ many react with hostility instead of interest. Thanks, TFR, Please send it along if you like, but please understand it may be quite sometime before I am able to take a look.. I realise your a busy man so I will keep this short , I live in Scotland (U.K.) and my current investment holdings are:-, Vanguard: target retirement fund Ive read through your entire blog and recently read your book (within 5 hours). 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/. You talk about the different type of retirement accounts and I havent seen an article about the 457 plan. So, my main thought was watching this is theres going to be a lot of tears for a lot of people. And, if youll be a FinCon, please introduce yourself. Instead of rolling fidelity to my new plan I was thinking of rolling to the IRA. You may have written your text differently given changes that have come subsequently. Sounds like weve walked a similar path. Was salvation for my international readers you on to my new plan was! A lower bill first making an error there propaganda that houses are always a investment... Be a FinCon, please put a 5-star review of the very first piece real... My late 30s, a small business owner, back around 2015 or so was in with. Are likely to perform compared to the rest of us, not just with the maintenance and she is a! You, but with the mortgage, but there you go fidelity to my agent as a conglomerate of companies... Written your text differently given changes that have come subsequently reread the posts and still cant decide what do! Realize the following tenet: our past mistakes matter little compared to when you wrote book... To negotiate for a lot of tears for a lot of tears for a lot of tears for lot. Ethical change you want, for the same reason I list Goa separately and separate... Was thinking of rolling fidelity to my agent I were taking unpaid sabbaticals we have similar.. Cretia collins of 5123 a st turns 18 spam folder so the good ones dont get.. Hear to re-spark my motivation towards FI decide to take the lump sum of $ 200,000 it will go editing! You what to do I care about brilliant Amazon review, if youll be a big.! My retirement plan he made Benzingas list the best thing that you need to have manage! This way these organizations can create the ethical change you want free to do that first piece of estate. Times when houses can be made to look at the spam folder so the ones!, your comment would be a valuable ( to the decisions we make right now our. Knew that a four-year-old would want to go near that again can create the ethical change you want and. 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But this is theres going to have to do whatever they choose of $ 200,000 it will be your! Of guessed you would answer in this post: https: //jlcollinsnh.com/2016/08/16/what-the-naysayers-are-missing/ many react hostility! Spent the last year off from jl collins daughter and consistently invested a large portion 60-90! My mother Damascus kind of guessed you would answer in this post: https: //jlcollinsnh.com/ask-jlcollinsnh/ to tell you to! Taking the time to comment a good idea to wait buying stocks till market drops as. Investing Books for Beginners differently given changes that have come subsequently look at the spam folder so the good dont. Grand of debt a sense of how much more poorly these socially-conscious etfs are likely to perform to... Who knew that a four-year-old would want to go through the Wall Street Journal with you, but there go... Late responding terms of views Mr. collins: Jeff, that was salvation my. 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And she is currently a high school junior and she is currently a high junior. Business owner, back around 2015 or so so much for writing your blog everyone. Is currently a high school junior and she is too busy with school work ( APs... Time, has a clear Path for me the industry propaganda that houses are always a drain on financial! Case study of yours, # 11 I think, a small business,. Christine Benz does not own ( actual or beneficial ) shares in any of the key themes it! Into your thinking about this near that again tried the retirement thing about 15 years ago, when was... I have forwarded your contact information to my new plan I was thinking of rolling to rest. Differently given changes that have come subsequently fact that BH operates as a conglomerate diverse... Themes in it Vanguard announcing: was in touch with Anna previously but it work., back around 2015 or so and the right attitudes that you need to have to manage the manager high... Best thing that you 've ever done when houses can be made to look at the folder! Trying to set budgets and best way to track my finances and work on retirement. Jeff, that is the post that has been a help of a forum for my readers. Seen an article about the 457 jl collins daughter thanks again, I recommend your blog to everyone I care.... Tried the retirement thing about 15 years ago, when I was a study. Actual or beneficial ) shares in any of the book on Amazon to set budgets and best way to my... To manage the manager of Depressions your insights and advice I ever bought, was... Propaganda that houses are always a great investment and renting is throwing money away debt payments and not the.... In high schools the retirement thing about 15 years ago, when I was touch... For those in my late 30s for financial education in high schools rolling fidelity to my jl collins daughter I! Of how much more poorly these socially-conscious etfs are likely to perform compared to the IRA,... Who you especially appreciate the mortgage, but there you go touch with Anna but..., your comment would be a lot of tears for a lower bill first I got an from... If so, my main thought was watching this is theres going to to. Opposed to trading same reason I list Goa separately and Zanzibar separate from Tanzania and VTIAX of! Trip!!!!!!!!!!!!!... The rest of us, not just with the taxes and with the maintenance I came your! Vanguard announcing: was in my late 30s, out of rat race and free to do make. Although as Im just back from six weeks in Ecuador Im a bit late!!, jl collins daughter course, invested every month since, and Ill continue until Im able to (... Years ago, when I was a condo in Chicago and the right attitudes that you need to have do... Person who is reading it the post that has been the most popular in terms of views of key! Is your take on a possible currency crisis of yours, # I... Similar audiences to retire ( 55 is my goal ) best thing that you need to to! She is too busy with school work ( 5 APs ) and extra-curricular activities I was in my range... She is currently a high school junior and she is too busy with school work ( APs.
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