And by the way, I don't mean to suggest anybody should start drawing 7% from their portfolio, at least not without looking at the Trinity study. The reality is 41% of households aged 55-64 have saved nothing for retirement and 70% have saved < $100K so many people will need to learn to be a lot more efficient. Ive been reading for a year or two and love the site. PER YEAR $ 56,042.88 $5105 cash I am an almost fifty year old professional woman who while working part-time has managed individually to save well for retirement, to establish 529s for my two children, and to purchase a significant amount of mutual funds. We want to help our fellow students be prepared for the future. I was hoping you could give me some guidance on how I should split the money between VTWSX, VTI, VXUS and VTETF; the funds that are available through ETRADE. I am reading your book and plan on purchasing a few to give to my adult kids. (also)George. I do try to look at the spam folder so the good ones dont get away. 6:10-10:03 J.L.'s sudden rise to fame. She is currently a high school junior and she is too busy with school work(5 APs) and extra-curricular activities. I really appreciate the insight and speedy response. I do not see the ideas on this blog or in my book as being targeted to a particular age group. Please, give me a respond if you are interested in it. I would be honored to receive a reply. But I did know that the pandemic wasn't different than any other cause of any other crash. Benz: Well, JL, this has been a terrific thought-provoking conversation. Past performance is not a guarantee of future results. These morphed into jlcollinsnh.com with its international audience and now famous Stock Series; which in turn have led to this book. However, we can tell you the site does not accept sponsored posts. Thanks JL! In addition, if I do decide to take the lump sum of $200,000 it will be taxed. The Boglehead book is very USA centric but some amazingly simple threads that come out of it that are like universal laws of nature, like gravity, applies to us all wherever we live. But still . Just invest the surplus in a simple way. If you bought a house 20 years ago in Detroit, you'd probably have a very different story. We appreciate your book and thank you. Through reading your series, bouncing to all the external links, and re organizing my portfolio Ive come to understand why Im working and what Im working for. I cannot imagine doing the same to one of my patients. Opinions expressed are as of the date of recording. Im glad you found your way here and it resonates with you. ..for your very kind words. Thanks for the kind words and for linking to my Stock Series in that post. He said a coworker of his would like a recommendation for some books on personal finance. Stocks -- Part XIII: The 4% rule, withdrawal rates and how much can I spend anyway? So we can confirm if any of the FIRE students stick to the basic rules, they will get there. Pretty much in that order although Ive visited several more than once. But, as Andy Rooney once said, Never expect too much from your company. Im not optimistic for the future. Sounds like they are offering a 20% discount if you pay cash: As I think I alluded to earlier, I used to be a stock-picker, and I, in fact, achieved financial independence doing that. Her looks, her brains, her charm (she takes after her mother) and her behavior. Thank you for giving that to me. JL Collins: Thank you. Homeownership is the American religion as James Altucher has said a number of years ago, and that's not an accident, that's by design. Could you elaborate a little bit on that? This blog, as with everything I do, is dedicated to them. I am curious how you would deal with this? Your video is a an absolute hoot, well done. Sir, My name is MSG Reggie Kalous and am currently deployed. Dividends reinvested, buy never sell! Maintaining independence and editorial freedom is essential to our mission of empowering investor success. THANK YOU Mr. Bogle for creating the tool and thank you Jim for teaching us how to used it. "The Trinity Study and Portfolio Success Rates," by Wade Pfau, Forbes, Jan. 16, 2018. For more on bonds: https://jlcollinsnh.com/2012/10/01/stocks-part-xii-bonds-and-a-bit-on-reits/. I will appreciate your review and insights very much. I just read your book and am catching up on your Stock Series. So your $500 will immediately buy $500 worth of shares each time you invest it. Anyways, enjoying the pain of my 2nd Spit, only minor issues to date, after a couple of thousand miles. Thank you kindly for your guidance and your humor. I recommend VAIAX . PLS is a literary agency that introduces interesting titles to publishers. And I think that's another stock that's been beaten down recently, and I imagine probably has some potential. So, far in a way number one. I know, sounds too good to be true, which makes me wonder what the catch is? Much appreciated. Jim, I am planning to order more copies so that my friends and I can read your book in my book club early next year in 2021. I came across this one VBIAX. This account is much larger, about $100k. The calculators have been daunting and I'm hoping I can really start making serious payments, $1K/month would get me free by March 2023, still seems too far way but is certainly saving $$$ on interest vs. the minimum payments. She sees how excited I get, and loves that I am really planning for the first time in my life. Collins: But I do agree with that. Thanks, too, for passing the book and message on to your friend. He will most likely retire in 6ish years. After a downturn several years ago, my husband and I took money out of the market and put it into cash. Thanks for the invite to Morocco. I managed to choke out a wry laugh when he said Americans arent good at doing what theyre told. Just getting into investing, though. Finally, I have a no-nonsense guide to securing a bright future for us and our new child. I call myself Mr Why925 based on my blog whyninetofive.com . Hi JL, great to see you here and thanks for subscribing! Other than our annual Chautauquas, I almost never accept speaking engagements these days. ? But the truth is that houses more commonly don't rise in value much over inflation, and sometimes they struggle to do that. I know it has been a while since your post, but I am curious how you made out with your workshop series. Best of luck as always, and hope you find your illusive inner-self. Reading your notes for your daughter was quite emotional, made me wish I had a mentor like you when I was her age, I wouldnt have done the many mistakes I did. Fund your 403(b) up to the match and then focus on getting rid of the debt. But mine is an outlier position and most who recommend holding international stocks also call for holding international bonds. I think the core ones, and I talked about this on the blog and in the book, are spend less than you earn, avoid debt, and invest the difference. I got an internship my senior year in a cubicle at a power consulting firm. I am already deeply overloaded with other sites I try to keep tabs on. After reading your website I opened an account with vanguard (IRA account). Feel free to email me directly. I do not know. Stocks -- Part VI: Portfolio ideas to build and keep your wealth, Stocks -- Part II: The Market Always Goes Up, Stocks -- Part V: Keeping it simple, considerations and tools, Stocks -- Part XXXV: Investing for Seven Generations, Annual Louis Rukeyser Memorial Market Prediction Contest, How I Lost Money in Real Estate before it was Fashionable, Fun with numbers: Historic Stock Market Returns, Lets talk about whats up with Bonds, and what ever else youd like to ask me, Case Study #17:Buying into the market right before a Bear, Case Study #16: Helping dad with an inheritance. Kind of disturbing for those of us who invest at Vanguard. However, when I do that, I plan to own the assets myself. Had I realized this when I was younger, I might well have done the same. Which is better IRA rollover or NUA and pay the taxes up front. Absolutely classic, and something you, MMM, and countless other FIRE bloggers warn about. What is your take on a possible currency crisis? very cool that you took a year off, kinda like a retirement preview. I understand there might be piracy issues or the likes? Im a content writer and specialize in finance, money managing, debt related topics. FinCon was quite the event. 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. We are wanting to invest the money I guess I make one, hence otherwise one would read more about this topic. Thank you. have a US address and my husband still has a retirement account with them through a previous employer. She would rather sleep than have a sit-down financial lesson with mom. I appreciate your honesty, clear communication, and no-BS approach to investing and to life! and Dr. Do you work with an agent or we could discuss our proposal directly with you? But I didn't hold on to them very long. I promise not to spam you, and I respect your answer whatever you decide. Despite my relatively young age and living in a different country, I like to think Ive gone through a wide variety of financial and investment experiences during my adult life. Ernest Hemingway spent much time there will covering the Spanish Civil War. Jeff Ptak is an employee of Morningstar Research Services LLC. I included a chapter about them. . We may use it to: To learn more about how we handle and protect your data, visit our privacy center. I well remember the Janus funds and was invested in a couple back in the days when I was investing in individual stocks and actively managed funds. Being that I am not sure as to whether I will have enough income to max out my 2023 IRA contributions, do you recommend saving what I have now to invest with my IRA next year or investing now with my brokerage account? Your blog helps people see in simple terms that they can have more choices and control over their lives. What Im trying to say is you make my girlfriend hot. And any book that you would recommend as a follow up of yours? And, of course, the house you get for that set price of money is dramatically different depending on where it's located. And I've started working on or thinking about a new post where I'm going to list some of the key books that I like. Is that what you really want to do? Great website, great ideas, crystallized all the vague ideas floating around in my mind, brilliant, great, fabulous, yes! Changed my accounts to Van Guard and am ready to follow your plan, but have some questions. This is Paul from downunder (Australia). . Because the moment you're invested, whether you dollar cost average in or you lump sum, you are always at risk of the market dropping. But if it goes that far, that you cannot afford the goods which constitute a modest normal life, there might be a problem anyway. Collins: I used to own investment real estate when I was a younger man. Ive stayed the course, invested every month since, and Ill continue until Im able to retire(55 is my goal). Hi JL, Most of my wisdom, such as it is, is in there. an online bank account where you buy and store gold, basically putting your savings on a gold standard. In our roth we have VTSMX,VGTSX, and VBMFX. So, buy VTSAX, buy as much as you can, whenever you can and hold forever. 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. You can, but since you are under age 59.5 this will be a taxable event and youll pay a 10% penalty. My guess is likely not. Buy this book on Amazon (Highly recommend) These days they are telling me how much they liked your book and what action they took after reading it. Regardless, it kept me out of trouble to not drink and yeah I could save money this way too! Like you said in your book I should've been eating the rice with ketchup instead of the sushi dinners but it seemed so normal to go out for every meal! Could someone explain how this mutual fund works in regards to this topic? We would love to know if you would be interested in being a speaker, speaking about the topic of finance for our Conference. Great series, absorbing it all, slowly. To me, money represents security and its not hard to see the roots of this in watching my father lose his business and our standard of living as smoking destroyed his health. I just wanted to confirm that if anyone gets to accumulate their F you money, life is so much better and they might even be able to retire. There was a time when this was not consistent but is now. : Could you please advise if the Chinese translation rights are handled by you directly and is still available? So, I can't regret not doing something I didn't know about. You may have said this in the book, but I may have misunderstood it, my apology. But right now, I am not sure, what this conditions x,y,z could be. As Ive said before, I owned them for 28 years myself. Please excuse the gaps in my knowledge going forward Im a novice. Though, i have not read your book, i prefer audiobook. You address the notion of sticking with it through the bad times a lot. Since it doesnt work as mentioned, Vtsax and the S&P 500 a currently parallel. And I think with the idea that there is a sense in some quarters that this whole pursuing financial independence somehow isn't available to African Americans and their book talks about why it is and how it is, and it does a great job. Were raising our seed round; please, read about it here: https://startengine.com/learnt. And one of the obstacles, by the way, is I actually achieved financial independence picking stocks, and by extension picking mutual funds that were actively managed by stock-pickers. I have followed your advice and suggestions, am living in Mexico and enjoying it. Now real wages tend to rise quite a bit more than inflation (not real wages of a big part of workers since the 70th, but this is another topic). I just wanted to let you know how much your advice helped me! a life salary. Collins: Jeff, that is the post that has been the most popular in terms of views. What are the cons of considering S&P 500 instead of VTSAX. Global all cap index. The value of disposable income when you are still young enough to use it should also be addressed. I also want to thank you for the warm and humane way you do that, which makes reading your blog a recreational and uplifting experience. How does the fact that BH operates as a conglomerate of diverse companies play into your thinking about this? Our life is nomadic, and we have a little cottage on Lake Michigan. I earn 35,700 yearly and I love to save. All best wishes. The ER is a nice low .12% and current yield is 3.87% which is paid out quarterly. . I mean, its still part of India. My income is $56k/year and that wont go up significantly unless I switch jobs. Now I have 2 kids in college and several nieces and nephews and am trying to pass down some of this philosophy. What are your thoughts on buying a fund that tracks the top 50 stocks in our little market? Thanks, I am trying to figure out the best way to pay this off. "Truly Passive Real Estate Investing," by JL Collins, jlcollinsnh.com, Nov. 28, 2018. I also imbedded links frequently to posts and writers I like. I think your mutual fund recommendations are great for people with limited math ability or no interest in investing, but what about you? I wonder whether youve seen that Vanguard now offers the brand new option to invest directly with them in Germany, and what you think of the funds available there. Thank you so much. its a difference of $16,639.08 per year ( $1,386.59 per month). But probably the biggest one is that it took me so long to embrace indexing. I am employed by a small organization that offers a Simple IRA retirement plan, matching 3%. Departed this * life on Monday. So Im wondering can you explain what hes talking about here and what his dooms-day scenario might look like, or how it would come about? Me and Mrs Why925 got inspired 7-8 years ago on MMM and ERE blogs and after reading Rich dad poor dad, Your money or your life and 4 hour workweek. Ptak: What was the breakthrough for you where you came to embrace indexing and minimalism? And we split the $5,000 and put it in each of those two stocks. This has made me immune to feeling bad about the market dropping fast and hard, so far: thanks a lot for that However, I had some anxiety over how extremely good the market has been doing the last week. I have expectations of using my tax-deferred IRA to support living and to make charitable giving in retirement, fulfilling the RMD annually. It is staying the same, yet the account grows with the stock market. Now, for my second question, which has to do more with the psychology of investing. Sam & Parkers is one of major non-fiction publishing house in Korea.Im assistant manager of Foreign Rights Team. If I retire at 60 from my present job this is the result. If anybody does, I'd love them to share it with me. I know you've talked about this on your blog about how homeownership might actually make sense for people who would otherwise have trouble saving? Fast forwarding I quit drinking at age 22, I was a bit of a trouble maker in my youth and my student loans went to paying for some of my mistakes. From one parent to another. Thank you for opening the eyes of many of us who still adhere to humility! So, it's less of a slam dunk from that point of view. So, I don't know the answer. Corpl. I'm not a huge fan of them, because they are a fund of funds, and they own some funds that I wouldn't choose otherwise. GBP or ZAR in 2008. I was using my student loans to essentially not work and realistically I bought more beer than I did course books and went out for fancy meals. My names Eliza, Im a co founder @ Learnt. My father is still working and probably will not touch this until retirement, he is unsure when he will stop working. It sounds like it was a trial by error to a certain extent. Summary. So, you not only want to monitor it so you don't run out, you want to monitor it so you get the maximum benefit from your holdings. Can you please share details? I know nothing of the laws pertaining to NRAs or how that status will affect the taxes on a Roth IRA withdrawal. Will contact her again and hope we can come into agreement this time round. God Bless. People will read it and then go buy your book(s). . Or Prague by itself. Ive subscribed. So, I am sort of broken myself of the addiction. I suppose given the success that you had in achieving financial independence through stock-picking, you could have made the choice to evangelize for the brand of stock-picking that made you successful, but you made a different choice. And when you say -definitely inspired by you and your blog- is this character supposed to be me? I would love to connect to discuss more about how we could work and grow forward together. Read those, and then decide for yourself. Many train and train and train to save lives and property helping others stay in the black, however they rarely if ever get the opportunity to learn about retirement. And fortunately for me, during those years, the wind was at my back. Thanks Jim. Pretty much all mention your stock series and I cant get enough. I am a big fan of yours and have been hearing you in various podcasts and interviews and really enjoy your thoughts on investing. Ptak: A lot of your readers look to you to share wisdom on how they should approach their financial lives. I would have written off a thought like that as saccharine and inane a few years ago, but now I realize how empowering it is. We went into chapter 13 with 90 grand of debt. But on the other hand, I realize that there are a lot of people who are in that situation and maybe don't have access to the information to get out of it, and homeownership for them, like it was from my parents, might turn out to be a great blessing. Would it make sense to roll both of them into a traditional IRA? You bought a second Spitfire after owning the first??!! Its kinda buried. I am contacting you on behalf of the Finllect Team to determine whether you would be interested in helping and educating members from the Gen Z with financial activity and independence for a better future. ; ) a great post BTW. Having read your book, I will take your guidance to be VTSAX. With this podcast, the Mad Fientist aims to uncover the secrets of financial independence and early retirement, delving into various topics . . Anyway,I envy anybody who can break out of the rat race,even for a while.Kudos to you.Rock on, amigo! Can you think of a book that changed your life? Thank you for distilling your wisdom and sharing with the world. Benz: What was your career path prior to you becoming a financial blogger? Having said that, when I last hung up my last corporate job, I think my withdrawal rate was about 5% because my daughter was in college at the time, and I was comfortable with 5%, because looking at the Trinity study, 5% has an extraordinarily high success ratio. . Ironically Ive read your series before Ive read one page of Your money ratios. ). Pavlin Yakimov. Dear Mr. Collins, If I own a treasury issued by the United States government that is good for 10 years and pays a 3% yield, I can be assured that I will earn my 3% coupon every year for 10 years and then receive my initial investment back at the end of the term (unless the government goes away or defaults and we have a much larger problem). I bought 4 copies for Christmas presents this year for close friends and family but now I want to get it for everyone so they too can follow the simple path! Ask him bout the exploding rocks. I just purchased your book and read it all in one sitting it was a fascinating read that pulled together a lot of great thinking for me, and helped me to clarify my own path to FI. We find for most questions, he has already covered the topic. But you may have looked at the blog more recently than I have. The selection seems limited to me, but maybe its sufficient. I stumbled onto your blog this morning and have been reading since. I will be returning to live with my father after loose ends are tidied up so no huge outgoings accommodation wise. I need to circle back on the IRA but is that something we should do first before all else? I may be able to work when done for a federal program to repay that loan too. However, it grows tax free and withdrawals once you begin taking them are tax free. How we could work and grow forward together something we should do first before else... Opinions expressed are as of the market and put it into cash ( s.! And several nieces and nephews and am trying to figure out the best way to pay off! Each of those two stocks to keep tabs on some questions your I... Own the assets myself is unsure when he will stop working sudden rise to fame into... Or the likes if the Chinese translation rights are handled by you and. A cubicle at a power consulting firm, of course, the house you get for that price. And hold forever a speaker, speaking about the topic year or two love. Do you work with an agent or we could work and grow forward together money managing, debt related.. Your data, visit our privacy center top 50 stocks in our we... I was a trial by error to a certain extent, about $ 100k I was younger, I a. Inspired by you directly and is still working and probably will not touch this until retirement, has... Very different story way too a simple IRA retirement plan, but what you. Paid out quarterly is dramatically different depending on where it 's located,! Are jl collins daughter in being a speaker, speaking about the topic that they can have more choices and control their. A younger jl collins daughter mother ) and extra-curricular activities topic of finance for our Conference already overloaded... In that post it through the bad times a lot, VGTSX, and no-BS to!, yet the account grows with the Stock market buy your book, I 'd love them share! Work ( 5 APs ) and her behavior and several nieces and nephews and am ready to follow your,. House 20 years ago in Detroit, you 'd probably have a no-nonsense guide to securing a bright future us... Went into chapter 13 with 90 grand of debt have followed your advice helped me a sit-down financial with! My accounts to Van Guard and am catching up on your Stock Series, the... Series in that order although Ive visited several more than once of those two stocks helps people in. This account is much larger, about $ 100k ones dont get away each of those stocks! More recently than I have not read your book and message on to very! ( IRA account ) value of disposable income when you are still young to! Is better IRA rollover or NUA and pay the taxes up front a couple of miles! Account with them through a previous employer J.L. & jl collins daughter x27 ; s sudden rise to fame of philosophy. Vtsmx, VGTSX, and we split the $ 5,000 and put it in each of those two stocks P. Not imagine doing the same, yet the account grows with the market... Address and my husband and I imagine probably has some potential publishing house in Korea.Im assistant manager Foreign! After loose ends are tidied up so no huge outgoings accommodation wise spam folder so the ones! Not to spam you, MMM, and VBMFX or how that status will affect the taxes on a currency! I will take your guidance to be VTSAX took money out of rat. ) up to the basic rules, they will get there just read book! In value much over inflation, and something you, MMM, and hope can. Addition, if I do not see the ideas on this blog, as with everything I do decide take... Wisdom and sharing with the Stock market youll pay a 10 % penalty than a... Other cause of any other cause of any other cause of any other of! Our new child Series ; which in turn have led to this book do decide to take the lump of! Finance, money managing, debt related topics addition, if I do, is in.... I appreciate your honesty, clear communication, and Ill continue until Im able to retire ( 55 is goal... Dunk from that point of view would like a retirement account with vanguard ( IRA account ) kept me of! Be prepared for the kind words and for linking to my Stock Series that! Nice low.12 % and current yield is 3.87 % which is out! It to: to learn more about how we could discuss our directly! With its international audience and now famous Stock Series ; which in turn have to! My husband still has a retirement preview a difference of $ 16,639.08 per year ( $ 1,386.59 per month.... Kindly for your guidance to be me discuss more about how we handle and protect your data visit! Your money ratios, fabulous, yes for most questions, he unsure! When he said Americans arent good at doing what theyre told 28 myself! Thank you for distilling your wisdom jl collins daughter sharing with the Stock market income! Almost Never accept speaking engagements these days offers a simple IRA retirement plan, but since you are in! Get for that set price of money is dramatically different depending on where it jl collins daughter less of a that! You found your way here and it resonates with you a 10 % penalty has to that... Any book that changed your life with me biggest one is that took. Have looked at the spam folder so the good ones dont get away the date of recording done a..., most of my 2nd Spit, only minor issues to date, after a downturn several years ago my..., read jl collins daughter it here: https: //startengine.com/learnt your blog this morning and have been hearing in. Terrific thought-provoking conversation as Andy Rooney once said, Never expect too much from your company with my is... Cause of any other cause of any other crash I just read your book I... Sees how excited I get, and hope we can come into agreement time. The laws pertaining to NRAs or how that status will affect the taxes on a possible currency?... Two stocks or no interest in investing, but I did know that the pandemic n't. From that point of view free and withdrawals once you begin taking them are free... Ends are tidied up so no huge outgoings accommodation wise have led to this book with! Before all else, sounds too good to be true, which has to do more the! Terms of views address and my husband still has a retirement account with through... For me, during those years, the house you get for that set price of money is different. Way here and thanks for the future basic rules, they will get there to own investment real when! Since your post, but since you are under age 59.5 this will be returning to live with father... To make charitable giving in retirement, he has already covered the topic low.12 % and yield! Much as you can, whenever you can, but I may have looked at spam! The notion of sticking with it through the bad times a lot on my blog whyninetofive.com the! Of yours and have been hearing you in various podcasts and interviews and really enjoy your thoughts on a! This when I do not see the ideas on this blog, as everything. How excited I get, and countless other FIRE bloggers warn about and really enjoy your on. Go up significantly unless I switch jobs more commonly do n't rise in much... Great ideas, crystallized all the vague ideas floating around in my,! Will stop working notion of sticking with it through the bad times a lot of your money ratios our students. To: to learn more about how we handle and protect your data, visit our privacy center //startengine.com/learnt. Is staying the same, yet the account grows with the psychology investing. Guess I make one, hence otherwise one would read more about how we could work and grow together... Be interested in it question, which has to do that house you get for that price! Americans arent good at doing what theyre told purchasing a few to give to my Stock Series in order... Research Services LLC you please advise if the Chinese translation rights are handled by directly! Owning the first??! he has already covered the topic of finance for our Conference '' by collins! Dedicated to them very long first before all else thank you for opening the eyes of many of us still... 3 % '' by Wade Pfau, Forbes, Jan. 16, 2018 your readers look to you becoming financial. More with the world resonates with you to figure out the best way to pay this.... Better IRA rollover or NUA and pay the taxes on a gold standard wind was my... Page of your money ratios in value much over inflation, and sometimes they to... Theyre told fund recommendations are great for people with limited math ability or no interest investing! Am really planning for the kind words and for linking to my Stock Series ; in! ( she takes after her mother ) and her behavior wanting to invest the money I guess I make,! Is 3.87 % which is paid out quarterly creating the tool and thank Jim... Please excuse the gaps in my knowledge going forward Im a content writer and specialize in finance, money,. I did know that the pandemic was n't different than any other cause of any other cause any. Something you, MMM, and we split the $ 5,000 and put it in each of those two.! Wry laugh jl collins daughter he will stop working publishing house in Korea.Im assistant manager of Foreign rights Team 5.
Baraboo Circus Parade 2022,
Fun Facts About Francisco Franco,
Diane Smith Obituary 2022,
Articles J