My main question is i will be a non-resident alien (NRA) at the time i will be withdrawing it. 401k) 74% built wealth outside of a company . I am writing to inquire whether the Chinese complex copyright for THE SIMPLE PATH TO WEALTH(1st edition) still available? Outside the comments of people who are clearly the ones you recommend not invest in the stock market, lay an upset reader saying dont buy this book because the same content is on his blog. BTW, my wifes cousin is a professor of economics at Cornell. And I may have forgotten one or two. I agree with basically everything, and its all great advice. But indexing here is still in the very beggining, and most people (like me) are used to stock-picking. Thanks. My kids asked me to run a series of seminars on my philosophies. You didnt fall for anything. If so, chose carefully and buy only term-life and then only for as long as you need it. Regardless, it kept me out of trouble to not drink and yeah I could save money this way too! Benz: So, a counterpoint is that the fact is that homes are really illiquid. So, anyway, there are always times when houses can be made to look like the best thing that you've ever done. I haven't owned an individual stock probably since 2013, 2014, something like that. I came across this one VBIAX. We max out our company sponsored HSAs every year, but would like to not dip into that money. But I frequently think, wow, if I had known that and embraced it from the get-go, how much easier my path would have been and how much further along I would have been on it at every stage. Am 59years old and my husband is 60. As for Mr. Chesterton, I decided to use his appearance because really liked his Father Brown detective stories, and because Mr. Chesterton has a very easy to describe physique . How nice it is to have come across someone that has the same feelings regarding the one fund (VTSAX), no additional international, and bond strategy (NONE for me). Could you please forward my address to your agent? A tremendous blog mate. Ive the following question the Fed has now been increasing the interest rates (I think 9 times since 2015) and from what I understand, the goal is to slow down the economy (and hence the stock market). I have a weekly podcast and would love to have you as a guest on it. Hello Mr. Collins: "The Trinity Study and Portfolio Success Rates," by Wade Pfau, Forbes, Jan. 16, 2018. My agent is working with publishers around the world and the rights have already been sold in several countries. I And the title of the blog post and the chapter is something along the lines of The Simplest Path to Wealth of All or what have you. I guess this topic would deserve an in depth exploration. COVID-19: The unvarnished truth from Doc G. Mr. Bear, Podcasts, a good book and why I should be in 100% stocks. We are a literary agency in Japan and have got a Japanese publisher interested in your book, THE SIMPLE PATH TO WEALTH(1st edition). It could be that I am misunderstanding something from the annual report, but it seems like the total compounded annual gain from 1965-2020 has been 20% for Berkshire Hathaway and 10.2% for SP500. And, if youll be a FinCon, please introduce yourself. Hope to hear from you soon! Other than our annual Chautauquas, I almost never accept speaking engagements these days. Hi:) Is it possible to contact you somehow? For that last one I sometimes get credit. Just called Vanguard Australia and they dont have it here, so I was wondering if you could guide me on this. Im 41, my fiance is 35, and we just bought a house. It's the one that's garnered me the most hate, and it's the one that's also garnered me the most love. very cool that you took a year off, kinda like a retirement preview. Peter G. Actually, 1 in 20 is generous. From 1989 to 1995 my wife and I were taking unpaid sabbaticals. 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. Let me check out your site and Ill send you a PM. Have a wonderful nice and safe Trip!!!! Ive worked at 3 hospitals prior to my current workplace and have left those 401ks with the original investment firms. 2. I will appreciate your review and insights very much. Is there a way to buy this book in bulk? I was just discussing VBAIX in the comments on my most recent post: Since I planning to invest for the long term Im afraid that the dollar will be deflated against the shekel in the future. So if you already have significant wealth try it out and make sure you have ice cold nerves, a lot of pre-existing nest money that you dont need to use, and time to spare (by the way time is still the most valuable quantity). You state that the Roth is a great pool of money to give to your heirs. We are interested in publishing them in complex Chinese-language in Taiwan, is this book available? Did you buy the place in Ecuador? So, the fact that U.S. stocks are more highly valued than stocks in other parts of the world says something about the neighborhood those stocks live in. 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. And I have been really interested about money as I will enter my next part of my life. Ive gained a few bucks and, to be honest, Ive certainly lost a fair amount of money. For someone young like my daughter, who's 27, I tell her all she needs to do is buy VTSAX, the Total Stock Market Index fund . Ive been reading Grant by Ron Chernow, and this passage seemed an apt addition to your F-You Money wonderkammer: Grant didnt care to be president, for he worried about the monetary consequences. How should they embark on that de-risking process to protect themselves against the kind of downdraft that you were just discussing? I'm also very impressed with Zuckerberg. So i would ask you Jim if i can translate your book to Portuguese and distribute via PDF. That is really the only way active management can outperform the index over time. My parents didnt tell us shit about finances. I hope you keep writing! Throwing a bunch of money into an index fund and ignoring it for years is a risky and emotionally challenging thing to try. I was impressed by your website and am confident that The Simple Path to Wealth aligns with Plastiqs value proposition. In fact, I've come to say these days that I've spent every dime that has ever come into my possession, and I spend it almost immediately. You wont need f- u money as JL Collins calls it because you wont have to say that to anyone. and the taxman cometh. Benz: One area where you run counter to the conventional wisdom is that you're not a big fan of dollar-cost averaging. Hello. L-funds arent for everyone, but when trying to convince colleagues to move themselves out of our default TSP allocation of 100% G Fund (U.S. Treasury securities), they sure are a great starting place. Your book has a lot of rock solid advice, but this one threw me. Do let me know if you accept paid posts. Reviewing the comments on my post of April 1st, Why I will no longer be writing this blog. Rent v. owning: A couple of case studies in Ecuador. But as I'm getting older, I'm thinking, I really do need to figure out where I'm going to settle down for the final chapter. In a simple, engaging way, Collins shares the basic wisdom you need to make your money work for you, not against you. As I say, that's not out yet. ETRADE doesnt trade VTSAX, VFWAX or VTIAX. I know nothing of the laws pertaining to NRAs or how that status will affect the taxes on a Roth IRA withdrawal. While Ive never written to you before, I am moved to do so this time. Where do you find your narrators? I am disable can,t work any more. A real nice first taste of an investment. I am grateful to you. That one came out in 2021. These articles would be based on all of the knowledge I have gained working in the industry. Collins' 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. And the emotional/financial forces drive you to buying too much house. When did you first realize you were financially independent? I have been self-directed my entire life, have made numerous mistakes along the way, I have done fair to good, however, I settled into your approach about 15 years ago. https://jlcollinsnh.com/2014/06/10/stocks-part-xxiii-selecting-your-asset-allocation/, Haha yeah, you almost had me fooled with the April Fools post! I graduated from college in 1999, and this year is a milestone year for me. I was wondering if it is better to select an ETF from Vanguard vs. a Mutual fund that represents VTSAX. Wed love to work together. Glad Scott and Taylor turned you on to my book and that it has been a help. Im 56 anduntil I read your bookthought that I would never be able to retire. I figured if I could do that twice a week,or hell,even 5 times a month,I could make it. I know youre all about simplicity, I am too. And my own parents were a good example of that. It is in the Not Pure Enough part of this one: https://jlcollinsnh.com/2017/08/21/stocks-part-xxxi-too-hot-too-cold-not-pure-enough/. And kudos to him for being open to it. I thought it was all complicated and I had to hire a professional to help manage everything. It all would have been extremely Isnt it University of Illinois Urbana-Champaign, not Champaign-Urbana? JL Collins: Thank you. . I pushed too hard, too early. Empty nester; either rent or live in a paid off (15 year mortgage) house from stage 2. While you will be hit with a tax on any capital gains, you are correct that you are also stepping up your cost basis with the new investments. One of my few regrets is that Ive never had the occasion for an international posting. JL Collins recently released his first book, The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life. I have an FAQ and other materials if you would like to look more before responding. You talk about the different type of retirement accounts and I havent seen an article about the 457 plan. I would seek to find match money for your gift and then use the resource for financial education and leadership development. Thanks. Please reach out to me by email if youre interested in discussing. I am concerned about the incurred capital gains. I have just discovered Jim a few days ago, and finished reading his book yesterday I have simplified my portfolio now and next 10 years is dedicated to Jims advice. Stocks Part XIV: Deflation, the ugly escort of Depressions. Case Study #9: Lars -- maximizing some good fortune and considering "dollar cost averaging". They are only making Collins index fund greater so that he will never have to work. It really changed the way I invested. As I mentioned earlier, the markets done nothing but rise for the most part over the last decade, and I've benefited from that. Your book has become my second bible! early retirement, extended time of not working, travel), correct? My bio reads just like yours and its encouraging. 1:11-4:20 Starting his blogging career in retirement. She would rather sleep than have a sit-down financial lesson with mom. If anybody does, I'd love them to share it with me. Invest in bonds when older for less risk Happened across your website via MMM. I cant thank you enough for what youve put out here and I hope one day our lives cross paths. When you say, you can get maybe an extra 1% long term for me the operative word is maybe. Lets say it did work as mentioned and Vtsax went up as new investors invested. I have really enjoyed reading through your website. So, anyway. Is this valid reasoning or am I making an error there? 2) In brazil we dont have a total market index fund? Thank you so much. Chautauqua 2014 preview, closing up for travel and other random cool things that caught my eye of late. So the index funds began to outperform almost immediately. ). I feel like I dont have time to be conservative. Everything You Should Have Been Taught About Investing in School, But Weren't, by Brian Feroldi, Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required, by Kristy Shen and Bryce Leung, Cashing Out: Win the Wealth Game by Walking Away, by Julien and Kiersten, Taking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life, by Jordan Grumet. Happy New Year! There is also talk on the blog and the book about pros and cons (mainly pros) of ignoring DCA (Dollar Cost Averaging). Eight years from the 4th of March, 1869, he will be about fifty-six years old. It was revealing that Grant, still haunted by his prewar fear of poverty, analyzed the presidency through the lens of financial security. How can I find more than the last 22 years worth of data? TOGETHER WITH LUMP SUM (MAXIMUM) $ 200,000.00 40 years old. I was promoted to full-time electrical engineer when I graduated and I worked for about 2 months before I said, NO WAY! Case Study #8: Ron's mother - she's doin' all right! As a high school principal of a small school, I look to get each graduating senior a giftits typically a book. ( I realize that if I did max-out my pre-tax contribution it would put my taxable income about at the 12% tax bracket threshold.) This is Jumi from PLS agency in Korea. Never accept speaking engagements these days that homes are really illiquid than our annual Chautauquas, almost... That it has been a help a series of seminars on my philosophies to your agent like a retirement.... Solid advice, but would like to not dip into that money my address to your agent I. Out of trouble to not drink and yeah I could do that twice a week, or hell even. And I havent seen an article about the different type of retirement accounts and I hope one our. Times a month, I 'd love them to share it with me much house to buy this book?. 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