JL Collins: Achieve Financial Independence w/ Index Funds

As you explore the FIRE movement, you will quickly learn that investing is a key component of financial independence. You might be thinking that now is the right time to invest. After all, there’s a good chance you’ve heard more than a little talk lately about “buying dips” and taking advantage of the recent market downturn. But how do you get started when it comes to FIRE investing?
I sat down with JL Collins, the writer at www.jlcollinsnh.com and author of The Simple Path to Wealth, to learn more. There’s a reason MarketWatch calls his book the #1 book to read if you want to retire early. His simplified investing wisdom has helped thousands of readers in their pursuit of wealth and financial independence.
During our talk, he shared his own investing history. He also breaks down index fund investing and explains how to know which account to fund first. JL also offers an overview of how to get started investing for financial independence.
Full written article: marriagekidsandmoney.com/podc...
JL Collin's Book, The Simple Path to Wealth: www.marriagekidsandmoney.com/s... (affiliate link)
CHAPTERS
0:00 - Introduction to JL Collins
1:40 - When JL Collins decided to pursue financial independence
5:21 - Why he transitioned from single stocks to index funds
7:00 - Why are index funds a better investment
9:00 - Advantages of Index Funds
11:27 - Why is Vanguard the best place to invest
15:34 - How to achieve financial independence with index funds
18:25 - How to keep portfolio diversification simple
20:48 - How a 30-year old can retire early
MARRIAGE, KIDS AND MONEY:
This award-winning blog, podcast and KZbin channel are dedicated to helping young families build wealth and thrive. Each week, Andy Hill interviews personal finance experts, families who've achieved financial independence and debt-free young parents.
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[@MarriageKidsandMoney]

Do you invest in index funds?

[@FIRE_in_the_NHS]

Yes, exclusively after discovering JL - VUSA. Currently 44 y.o. discovered FIRE movement a year ago roughly. Target for retirement - an optimistic 56 y.o. (UK)

[@MarriageKidsandMoney]

@@FIRE_in_the_NHS incredible! Best of luck to you on your investing journey!

[@FIRE_in_the_NHS]

@@MarriageKidsandMoney Thanks! Too early to know if I'll achieve the goal, but anything that gets me out of work before the dreaded state pension (67 for me) has to be worth attempting. No doubt, like many on the FIRE movement (not to mention Jim Collins) my ultimate goal is to provide a solid foundation for my kids and get them invested as soon as they start working and reach FI early in life. My copy will be handed down and even if I have to pay them to read it, it will be read! Lol ;)

[@MarriageKidsandMoney]

@@FIRE_in_the_NHS That’s the way to do it! We’re currently investing in a custodial brokerage (UTMA) for my kids. It’s not a lot right now but over time compound interest will work it’s magic!

[@MarriageKidsandMoney]

@The Contemplated Life Me too!

[@FreeyourFinance]

JL Collins is an absolute hero! The simple to wealth is one book that changed my life.

[@MarriageKidsandMoney]

Completely agree!

[@minimalmiss]

Same 💁

[@WalletInvestUSA]

Who else is a VTI fan?! My fav ETF!

[@MarriageKidsandMoney]

Big fan here!

[@the_real_swiper]

HIs book "The simple path to wealth" was awesome. I´m from europa and he is one of the reasons, besides John Bogle, why I am just investing in just one simple ETF. The Vanguard Developed World ETF. Simple investing. Thx for the great interview!

[@mary111884]

Great interview ! JL COLLINS is one of my favorite Personal finance teachers !

[@MarriageKidsandMoney]

He makes it so SIMPLE!

[@kdevonraine]

I LOVE your show, thank you for constantly placing great content out there.

[@MarriageKidsandMoney]

I’m so glad to hear you say this! Thank you!

[@moneybee]

Great interview with some very interesting points! These principles are great for keeping us on the Simple Path to Wealth!

[@MarriageKidsandMoney]

I'm with you Moneybee! It's simple and it WORKS!

[@thesytch]

Ahh, my go-to voice of reason when I question my financial plan lol

[@MarriageKidsandMoney]

He’s the man!

[@123gcruz]

I’m 25 making close to 6 figures and have recently started investing! Looking forward to an early retirement hopefully! Soaking in all the knowledge I can. Thanks for the content

[@MarriageKidsandMoney]

Congratulations on finding the FIRE Movement so early in your life! Coast FIRE is a great place to start: kzbin.info/www/bejne/aZfbYYhmi5Z_gZo

[@janefromthecountry1820]

I enjoyed this interview- Very nice gentleman JL Collins ! Andy, thanks for the good content. You ask great questions! 😊

[@MarriageKidsandMoney]

Thank you so much! JL’s book is one I recommend to most everyone

[@mariahsmom9457]

Love JL- his book changed my life.

[@MarriageKidsandMoney]

Mine too! 99 minute millionaire by Scott Alan Turner was my first exposure to Index Funds but JL opened my eyes to their power abs simplicity. Another book to hammer it home is The Little Book to Common Sense Investing by Bogle :)

[@mariahsmom9457]

@@MarriageKidsandMoney Thanks for the suggestions- appreciate it!

[@dinabarrett5125]

Thx ..great show !!

[@MarriageKidsandMoney]

I appreciate you watching!

[@madhuri1086]

The world is still a better place at least, becos of people like you. Thank you sir.

[@MarriageKidsandMoney]

Thank you!

[@carolannstevens5814]

I was late to invest so thank you for this!

[@MarriageKidsandMoney]

Glad you enjoyed the interview!

[@TraderHarneet]

Great interview ! you deserve much more subscribers brother ! best of luck !

[@MarriageKidsandMoney]

Thanks so much! Glad you enjoyed it. I’m just getting started 👍

[@TraderHarneet]

@@MarriageKidsandMoney ya i know.. and i am sure you will soon hit 1M subs :)

[@chandureddy5208]

Good questions Andy

[@MarriageKidsandMoney]

Glad you enjoyed it!

[@mikeg2538]

I look at the stock charts from April 2020 to today for a 20 year span. The last year looks like an upside down very very very tall ice cycle. Economy was partially open over the past year. Doesn't this seem like we should sweat and worry? It feels very very bearish just looking at the charts and knowing 10s of thousands of businesses closed. thoughts ?

[@MarriageKidsandMoney]

History tells us for certain there will be another recession soon. If you know when “soon” is then you have information no one else has. For the rest of us, buy-and-hold index fund investing with dollar cost averaging through the highs and lows should win in the long run. It just makes too much sense to ignore and try to time the market. I could also be completely wrong too 🤣

[@davidmonroe2008]

Are HSA'S a good money making vehicle when paired with a high deductible insurance plan?

[@MarriageKidsandMoney]

We use our HSA to both save and invest for future health care costs. Since healthcare costs are rising and rising each year, we feel more comfortable with money set aside.

[@JT-ce4bl]

I’m in the UK and we can’t invest in VTSAX does anyone know/ recommend the UK alternative?

[@MarriageKidsandMoney]

Are you looking for US stocks or UK based stocks?

[@JT-ce4bl]

@@MarriageKidsandMoney preferably both was thinking about using the FTSE global all cap