Author Topic: JLCollins' Stock Series Turned Book: The Simple Path to Wealth  (Read 5784 times)

arebelspy

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Jim Collins, author of the terrific Stock Series that we frequently link here, has finally compiled his wisdom into a book, which you can find here: The Simple Path to Wealth



The paperback is available today, and the Kindle eBook should be available within a few days.

I got a preview copy a few months back, and thoroughly enjoyed it.  Jim's compiled a sort of "best of" from the blog regarding investing (Vanguard index funds, if you aren't familiar with his site), why to invest that way, how to invest that way, arguments for and against things like financial advisers, international funds, etc. and then beefed it up with all the other sort of personal finance information one would need (regarding debt, various types of retirement accounts, optimization, withdrawal rates, etc.).

Highly recommended for:
  • Mustachians beginning their investment journey
  • Mustachians wanting to brush up on, or recommit to, simple and effective investing
  • Friends and family who want a basic "how to," focused on investing

The writing is very clean and straightforward.  He avoids technical jargon and overly complex examples, making it a very quick, easy read. Especially good for beginners or those who typically get overwhelmed by reading financial books.

Also, the forward is by MMM!

Well worth checking out.  I'm personally pretty excited to have it as a resource to recommend to people, after sending people to the stock series on his blog for years.  :)

Enjoy!

The Simple Path to Wealth

(Note: I have no monetary affiliation with Jim, or the success of his book.  The above links are not an affiliate links, and I'm getting no compensation for writing this brief review.  I just think it's a terrific blog, and book, and that many Mustachians--and their friends and family--would enjoy and benefit from it.)
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Full Beard

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #1 on: June 18, 2016, 03:23:45 PM »
Awesome!  I just ordered my copy.  Can't wait to read it!

retiringearly

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #2 on: June 18, 2016, 04:41:57 PM »
Thanks.  I just put in a request for my public library to purchase it.

mikefixac

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #3 on: June 18, 2016, 06:21:01 PM »
Yesterday, I listened to a podcast by MadFientist interviewing Mr Collins.

A few of the big takeaways: Don't need to swing for the fences, in fact, a bunch of singles is better. Also, Jim's learning of investing was pre-internet.

It's amazing what young people now have at their finger tips what was virtually unknown a few years ago. For those not familiar with Jim Collins, check out his blog and his post he wrote for MMM.

Travis

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #4 on: June 18, 2016, 06:43:22 PM »
On my Amazon Wish List now.  I participate in occasional budgeting seminars at work - this is definitely going into the class library.

mikefixac

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #5 on: June 18, 2016, 06:54:55 PM »
I just received an email about purchasing the book via Amazon. I looked and the book can also be purchased via Kindle. So you do have a choice--paper or paperless.

Rubic

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #6 on: June 18, 2016, 07:22:50 PM »
I often send JLCollins' blog links to people who ask me financial questions.  He's a great resource. Although I was already FI'd before I encountered his blog, I've now just downloaded his book to my Kindle.

« Last Edit: June 19, 2016, 05:42:32 AM by rubic »

Frankies Girl

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #7 on: June 18, 2016, 09:06:19 PM »
I am a huge evangelist for his website. I've referred many, many people to it over the last couple of years. I seriously went from zero knowledge to being confident about handling my own investments and even took over my mom's as well.

Got an advance copy of the book and reviewed it as soon as it went live - it's awesome and I'll definitely be recommending it as well.

MustacheAndaHalf

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #8 on: June 18, 2016, 11:14:22 PM »
Anyone know if a kindle version of the book is planned?

Rubic

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #9 on: June 19, 2016, 05:45:55 AM »
Anyone know if a kindle version of the book is planned?

The Kindle version is already available.  I purchased it yesterday:

https://www.amazon.com/Simple-Path-Wealth-financial-independence-ebook/dp/B01H97OQY2

ShortInSeattle

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #10 on: June 19, 2016, 02:42:05 PM »
Good for him! I wish him success and I'll suggest his book to a few friends.

SIS

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #11 on: June 21, 2016, 07:28:47 AM »
I read the Millionaire Next Door and found it kind of dated. Hope this is more of a modern version of the same principals that I can give to friends.

dandarc

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #12 on: June 21, 2016, 02:28:22 PM »
Gotta get me a copy of this book.

Incidentally, is Amazon-reviewing a marketing technique?  About the only explanation I can think of for the only semi-negative review (the lone 3-star) is trying to get name / link out to sell own books.  If the point was to push betterment, and there's no referral link, just not sure on the why?  That is a strange review.

FrenchStache

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #13 on: June 24, 2016, 09:03:56 PM »
I got my copy!  Should be in my mailbox actually.

PhysicianOnFIRE

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #14 on: June 24, 2016, 09:10:27 PM »
I got my copy!  Should be in my mailbox actually.

I commend you for using an Amazon Smile link, arebelspy. Where does your half percent go? I set mine up for the local YMCA.

I've enjoyed Jim's stock series, and I'm glad to see he pulled all the pieces together to self-publish his ideas in book form.

Best,
-PoF


biglawinvestor

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #15 on: June 26, 2016, 06:34:26 AM »
It's a great book. Jim's put together a comprehensive guide for everyone - the kind of book where many people on the MMM forums probably already know all the advice but where it's nice to remind yourself of the foundational principles. Definitely worth reading and keeping on the bookshelf (and great for visitors).

arebelspy

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #16 on: June 28, 2016, 11:45:02 PM »
I commend you for using an Amazon Smile link, arebelspy.

Oh, didn't even realize I had that in there, I've just auto-had smile links for a few years.

I use this extension for Chrome:
https://chrome.google.com/webstore/detail/smile-always/jgpmhnmjbhgkhpbgelalfpplebgfjmbf?hl=en

It automatically redirects Amazon.com links to smile.Amazon.com links.

For those that don't know about Amazon Smile:
Quote
Through Amazon's AmazonSmile initiative, 0.5% of your purchases on eligible items will automatically be donated to the charity of your choice.

Everyone should use it--everything costs the same for you, but a half percent of what you spend on eligible items (from what I understand, that means sold by Amazon, not third-party) is donated to the charity you choose.  They have a few stock ones you can choose from, if you're not sure on that.

Well worth doing (and automating via the extension, so you don't have to remember).  :)
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

madmax

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #17 on: June 29, 2016, 12:12:40 AM »
I read through the book recently, would highly recommend it as a gift for people just starting their investing career. I suspect that most of the contents of the book will not be new for the readers of this forum however.

arebelspy

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #18 on: June 29, 2016, 12:18:07 AM »
I read through the book recently, would highly recommend it as a gift for people just starting their investing career. I suspect that most of the contents of the book will not be new for the readers of this forum however.

Long time readers, probably.  But lots of new people come on all the time, completely unsure of how to invest.  Plus, I'm sure many long term readers know people that could use this book.  :)

But yeah, it's basic, even simple, to someone who's spent a lot of time researching investing.  The advice remains effective though, IMO, even for those who know a lot.  Simple, low cost index funds.  It's stupid how effective and good it is.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

markus

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #19 on: June 29, 2016, 06:51:54 AM »
Hello all,

I also wanted to add my thumbs-up to the pile for Mr. Collins' book, and this despite having read through his 'Stock Series' several times plus most of the other entries on his blog. I purchased the book partially to support Jim and send him some monetary thanks for all of the good advice on his site, and also to have all of that information physically at hand. It takes me a lot of repetition to really get some of the finer financial details to stick in my brain, and I think we can all also agree that it helps to re-read the overarching concepts, particularly when dealing with a potentially emotional subject like money coupled with the occasionally gut-wrenching ups and downs of the market. So, for me it's been worth it alone just to have this guide right at hand to re-read and be reminded of why it's good to keep things simple and stay the course.

As an additional bonus, though, I find the text of the book much more readable than that on Jim's blog, perhaps simply because I'm looking at a page and not a screen. Of course, he's also reworded and rewritten where necessary to put all of the information into book form which helps as well. Above all of that, the chapters are all nicely laid out in a suitable arc so that concepts are introduced at an appropriate time. I also really liked that even after digging into the finer nuts and bolts of different retirement accounts and case studies that he then pulls back out and discusses general concepts again. It's a really pleasant way to take in all of the information.

Lastly, I now have a book in hand that I can pass on to someone else. My wife is now much more likely to really dig into all of the chapters/articles, and afterward we can give our copy to a friend, or perhaps better yet just donate it or leave it in a book exchange. As some extra thanks to Jim for a fine piece of work, I'll be contacting him to see if there's an address to which I might send a good single malt whisky.

* * *

As an aside, this is my first post here in the forum after having read and followed all of your posts for at least a couple of years, so I'm pleased to finally join and post some questions (and perhaps even some useful responses) of my own! In a world full of noise, this forum is one of the best financial, if not lifestyle, resources out there. Cheers, everyone.

MissNancyPryor

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #20 on: June 29, 2016, 07:07:44 AM »
My copy arrived last weekend.  It is true the a millionaire is made 10 bucks at a time but this 10 bucks just happens to be leaving the hands of the smart and inquisitive!  Share this one with your kids heading out to college, great HS graduation gift.

Rubic

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #21 on: June 29, 2016, 07:13:59 AM »
I read through the book recently, would highly recommend it as a gift for people just starting their investing career. I suspect that most of the contents of the book will not be new for the readers of this forum however.

Long time readers, probably.  But lots of new people come on all the time, completely unsure of how to invest.  Plus, I'm sure many long term readers know people that could use this book.  :)

But yeah, it's basic, even simple, to someone who's spent a lot of time researching investing.  The advice remains effective though, IMO, even for those who know a lot.  Simple, low cost index funds.  It's stupid how effective and good it is.

Agreed.  It's simple and effective.  As someone who's had a brokerage account since age 18 and internalized the basics of investing, it's easy to forget how foreign all these terms are to many people: compound interest, marginal tax rate, long-term capital gains tax.  The brilliance of JLCollins' book is explaining the essentials in an entertaining way.  It looks easy until you try do write something (on any challenging topic) and realize what an accomplishment it is to remove all the complexity.


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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #22 on: June 29, 2016, 08:18:21 AM »
I was lucky enough to be to a review for Jim's book as well!  It is a gold mine for all ages.  If I had the book 20 years ago, I would have been FI so much sooner.  He writes in a style (and you know this if you have been to his blog) that is very engaging and he hooks you from the start. Nothing fancy, no secret formulas - an incredibly smart man who is sharing what works.  The Simple Path. 

kendallf

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #23 on: June 29, 2016, 08:23:50 AM »
Read and enjoyed this last week.  If you've read through his blog series, there isn't much new material here, but it's been polished and organized better.  I'm hoping my daughters will read it; my oldest daughter now works for Fidelity and is just starting to invest.  They'll be about 2 decades ahead of me if they get their financial houses in order right out of college!

markpst

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Re: JLCollins' Stock Series Turned Book: The Simple Path to Wealth
« Reply #24 on: June 29, 2016, 10:31:42 AM »
Thank you everyone for the heads up on the book! I have read the blog and thought the advice was great. The Cincinnati/Hamilton County library is super awesome about taking user recommendations for books to order. I requested this a couple of days ago and they have since ordered 4 copies.