462 | Pathfinders | JL Collins

In this episode: the power of pursuit, FU money, index investing, investing the difference, and the simple path to wealth.
This week we are joined by the godfather of the FI movement himself JL Collins to discuss the themes of his new book "Pathfinders: Extraordinary Stories of People Like You on the Quest for Financial Independence―And How to Join Them." While there is no perfect blueprint to mastering your money, there can be confidence and motivation to be found in the stories of others who have been in your position regardless of what part of the path to FI you are on! Though this journey requires you to have to take action and make necessary financial changes, it is never about complexity and deprivation. But rather, this journey is about recognizing the freedoms gained while pursuing FI, not just when you reach your FI goal! The moment you begin to simplify your path to wealth, you will find yourself becoming a stronger and happier individual!
JL Collins:

Check Out JL's New Book "Pathfinders: Extraordinary Stories of People Like You on the Quest for Financial Independence―And How to Join Them" Website: jlcollinsnh.com Other Book: "The Simple Path to Wealth: Your road map to financial independence and a rich, free life"
Timestamps:

1:25 - Introduction 4:27 - The Power Of Pursuit And FI 13:48 - Buying Your Freedom 22:34 - There's No Secret To Money 30:35 - The Power Of Index Investing 43:29 - Spend Less, Avoid Debt, And Invest The Difference 51:27 - Following The Simple Path To Wealth 56:26 - Conclusion
Resources Mentioned In Today’s Episode:

"Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required" by Kristy Shen and Bryce Leung 10 Reasons People Invest in Hedge Funds A Wealth Of Common Sense 32 Things to Know about Following The Simple Path to Wealth Time Machine and the Future Returns for Stocks Subscribe to The FI Weekly! More Helpful Links and FI Resources:
Earn $1,050 or more with these 3 Cash Back Cards Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Find a new side hustle with one of our Educational Courses Commission-free investing with M1 Finance

[@TimothyS-iq6yg]

Jl is amazing. Simple path changed my life

[@prattworks]

Every time I have an impulse, or hear about someone attempting to time the market, I hear the reassuring voice of JL whispering in my ear, "the talking heads are wrong, as they always are."

[@intownvlogtv8123]

I love the chooseFi so much, I have learned a lot from you guys.thank you.

[@vickig6080]

Always reassuring that ANYONE can manage to improve their financial circumstances, create a stronger foundation, and find their own way to FI. Thank you

[@vickig6080]

Just bought my first total stock mkt index funds FSKAX!!

[@MinnieOnCam]

I'm pursuing FI living with a disability, so many people on disability think it can not be done. Yes there are limitations from government funded disability programs, but they are the government's limitations.

[@kimoutridge1937]

such a great episode - thank you!!

[@edwardjacknitsky5630]

Excellent.

[@freedomchannel6416]

Amazing!

[@ianwhittaker3041]

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

[@capaldir6552]

Either one has been suggested by JL Collins. He wrote in the book that personally he buys VTSAX.

[@SD-co9xe]

You can run it through portfolio visualizer. But result will be based on past performance.

[@craigb4449]

And yet 90% of people WON’T do it. Oh well, not everyone going to make it

[@marietaylor5174]

The system depends on people not becoming FI.

[@justjack9561]

He always recommends VTSAX Which is as a Schwab user I’d have to pay the fee. Is the Schwab index fund SWPP X just as good I see it has a lower cost at .02 v .04 for VTSAX