Author Topic: The Simple Path To Wealth  (Read 24058 times)

MakeSmarterDecisions

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The Simple Path To Wealth
« on: June 12, 2016, 07:27:12 PM »
If you are looking for a great book that is coming out soon, I'd suggest The Simple Path To Wealth by JL (Jim) Collins!  I was lucky enough to preview it a few weeks ago and it is awesome!  (And the foreword is by MMM too!)  I'll try to remember to come back here and post when he releases it on Amazon.

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Re: The Simple Path To Wealth
« Reply #1 on: July 02, 2016, 08:39:03 AM »
That's great! How did you get the opportunity to preview it?

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Re: The Simple Path To Wealth
« Reply #2 on: July 02, 2016, 08:59:44 AM »
I'll keep an eye out. Thanks!

MakeSmarterDecisions

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Re: The Simple Path To Wealth
« Reply #3 on: July 02, 2016, 10:37:23 AM »
Hi Julie!  I follow Jim's site - and he put the opportunity out there, so I jumped on it!  I just really connect with his mission and his writing. He is too funny - (in an "R" rated manner at times) but makes understanding investing so much easier!

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Re: The Simple Path To Wealth
« Reply #4 on: July 02, 2016, 11:00:38 AM »
Hi Julie!  I follow Jim's site - and he put the opportunity out there, so I jumped on it!  I just really connect with his mission and his writing. He is too funny - (in an "R" rated manner at times) but makes understanding investing so much easier!
Thanks! My library doesn't have it. Might have to *gulp* buy this one.

MakeSmarterDecisions

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Re: The Simple Path To Wealth
« Reply #5 on: July 02, 2016, 11:32:56 AM »
It just came out.  Many folks are asking their libraries to order copies.  I am heading to our library this week to ask them to order a copy.  Getting copies for my kids for Christmas - it's the only finance book they may read at their ages!

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Re: The Simple Path To Wealth
« Reply #6 on: July 02, 2016, 12:07:58 PM »
Great idea. It turns out that our library has an online form to request that they order a book.

newton

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Re: The Simple Path To Wealth
« Reply #7 on: July 09, 2016, 07:50:29 AM »
Read it.  It was great.  Made me make some changes to my investment strategy, and I made them immediately.  Two things I still need to work on...I don't have an HSA and I probably live in too large of house.

MakeSmarterDecisions

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Re: The Simple Path To Wealth
« Reply #8 on: July 09, 2016, 08:02:09 AM »
That's awesome Newton! We made a few changes too. We live in a smaller house - but looking to go even smaller with both kids heading off to college after next year. We have a small rental across from a beautiful lake - ready to make it ours!

mr_orange

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Re: The Simple Path To Wealth
« Reply #9 on: July 10, 2016, 10:40:21 AM »
I read this over the course of a few days.  If you invest any time on the forums much of it is a nice review, but there is some interesting discussion in the book and I got some nuggets reading it. 

MakeSmarterDecisions

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Re: The Simple Path To Wealth
« Reply #10 on: July 10, 2016, 11:00:36 AM »
Agree Mr_Orange about a lot being a review. But there were definitely a few things that sunk in a bit better!  I was reading through the lens of how this might help some folks I know who are not willing to read the forums or even Jim's site.  Hoping even a little will rub off!  I think his humor might keep a few reading more than other finance books.

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Re: The Simple Path To Wealth
« Reply #11 on: July 10, 2016, 11:09:26 AM »
I read this over the course of a few days.  If you invest any time on the forums much of it is a nice review, but there is some interesting discussion in the book and I got some nuggets reading it.

I agree with this. Having read many of his posts (and the stock series), I felt a lot of it was review.

BUT

It was wonderful to read some of those ideas in a structured, thought-through, quasi-narrative form. One of the book's strengths is that it is well organized and takes you from the investing ABCs right through the XYZs.

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Re: The Simple Path To Wealth
« Reply #12 on: July 15, 2016, 03:20:17 PM »
I bought a copy for a young couple I know getting married soon. Seemed like the perfect gift (because they know I'm a personal finance junkie). And of course I read it first. :)

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Re: The Simple Path To Wealth
« Reply #13 on: July 15, 2016, 06:38:55 PM »
Love the wedding gift idea!  We have a fall wedding and I am going to order a copy tomorrow. 

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Re: The Simple Path To Wealth
« Reply #14 on: July 19, 2016, 02:29:20 PM »
I finished this book today.  For many on the MMM site it is a review, but I did get a couple of things out of it. 
I liked his explanation of risk, diversification, and "self cleansing" of VTSAX.
I learned a little from withdrawal strategies to minimize taxes.
I also liked that he gave an example of a 4% withdrawal from many sources.  It may not be the way I do it, but hey, i got some time to think about it.
Also some excellent thoughts and considerations on dealing with SS.

The book was written like I was sitting next to him at the bar having a beer and picking his brain.

MakeSmarterDecisions

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Re: The Simple Path To Wealth
« Reply #15 on: July 19, 2016, 05:34:05 PM »
Totally agree about feeling like you were at the bar with Jim! He'd be too funny to drink with. If you check out www.1500days.com (not my website) - you will get some serious laughs from the last 2 posts.

aceyou

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Re: The Simple Path To Wealth
« Reply #16 on: July 26, 2016, 08:13:44 PM »
Finished this morning.  Great Read.  Much was review because of this forum and his stock series, but...

I have never actually studied the actual charts from the Trinity Study before, just read the synopsis.  That was interesting to check out. 

Also, I gained knowledge about the current and future state of social security that I didn't really know the details of previously . That was a hole in my understanding that he filled. 

Oh, and the idea of setting up a charitable trust someday was a good seed to get planted.  Who's to say whether I'll be able to or even want to someday, but it's interesting to hear about as an option. 

MakeSmarterDecisions

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Re: The Simple Path To Wealth
« Reply #17 on: July 26, 2016, 08:23:57 PM »
Yea - he definitely added some things I had not read before. The Social Security part was of real interest to me as DH is late 50's and we have chatted about SS. The charitable trust is really interesting too. I think it is something to go back and consider over time. There are certainly some amazing charities that do great work that would be terrific beneficiaries of a gift.

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Re: The Simple Path To Wealth
« Reply #18 on: July 31, 2016, 01:06:03 PM »
I finished reading this yesterday - my quick thoughts:
- you can get it free in the kindle lending library
- over simplified investment advice from perspective of lifelong investor
- great tips on the HSA and interesting thoughts on SS

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Re: The Simple Path To Wealth
« Reply #19 on: July 31, 2016, 01:14:44 PM »
That's great about the lending library! Agree that those of you who have invested a long time probably wouldn't gain too much. For me, it was still a good review and I've been reading his blog (and this and many others for years). I am sharing as much of the basics with my kids (17 and 20) as I can - so simple is good :)

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Re: The Simple Path To Wealth
« Reply #20 on: September 08, 2016, 05:40:18 PM »
I finished reading this yesterday - my quick thoughts:
- you can get it free in the kindle lending library
- over simplified investment advice from perspective of lifelong investor
- great tips on the HSA and interesting thoughts on SS

how do you access the kindle lending library?  All I'm seeing is that you have to have a subscription to kindle unlimited or pay  for it.

Yokan

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Re: The Simple Path To Wealth
« Reply #21 on: September 13, 2016, 08:05:19 AM »
I read it the day I got it. It is definitely a review if you follow his blog at all. I think he even copy and pasted a few excerpts from his blog. Even with this, it was a fun read. I've given it to my dad (He's terrified to invest in the stock market) to read, and he finally understands why I've been so gung ho on index funds. I'd recommend it for anyone who's scared of the stock market and needs a simple explanation as to why index funds are the way to go.

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Re: The Simple Path To Wealth
« Reply #22 on: October 15, 2016, 08:35:29 AM »
This book is the first financial book I've read. I have read MMM's Blog for a few years now, more avidly in 2013-2014 not so much anymore. I found the financials more interesting than spraying my face to experiment saving money on gas during a cross country trip.

As mentioned before this is mostly review if you've read the blog for a while. I did find the explanations in depth enough for someone who is just starting and I am trying to get my girlfriend to read it too, she's not quite into the investing game unless she gets advice from one of her family members and they're not as into saving as MMM is...

As a Canadian (and it's addressed in the book) a few chapters were US centric. I found the underlying premise to be very informational and with the information provided, with out the vanguard US stuff (VTSAX ect) to go with you get what you need to make informed decisions on what to invest in.

I recommend this book to anyone who wants to start investing or at least read a bit more about it.

It doesn't have to be as complicated as an advisor makes it out to be.

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Re: The Simple Path To Wealth
« Reply #23 on: October 15, 2016, 04:19:33 PM »
Hi Julie!  I follow Jim's site - and he put the opportunity out there, so I jumped on it!  I just really connect with his mission and his writing. He is too funny - (in an "R" rated manner at times) but makes understanding investing so much easier!
Thanks! My library doesn't have it. Might have to *gulp* buy this one.

Here in the great state of Massachusetts, if your library doesn't have a book, they will get it for you, even if they have to go outside the state or even outside the country.  Pretty incredible!

La Bibliotecaria Feroz

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Re: The Simple Path To Wealth
« Reply #24 on: October 15, 2016, 04:22:06 PM »
Some months back my library did not own it and refused to buy it, but I just checked again and was able to get on the holds list.


MakeSmarterDecisions

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Re: The Simple Path To Wealth
« Reply #25 on: October 16, 2016, 07:20:05 AM »
That's awesome! And so weird - a library that would refuse to buy a book on a very simple way for people to grow their long-term wealth (along with MANY other topics). They probably thought it was some kind of scam.

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Re: The Simple Path To Wealth
« Reply #26 on: October 16, 2016, 09:47:04 AM »
Maybe it just hadn't picked up enough momentum (professional reviews) yet. It's a big system and they actually rarely make purchases for customer requests--they buy what they buy from their guidelines and borrow what they don't want to buy.

MakeSmarterDecisions

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Re: The Simple Path To Wealth
« Reply #27 on: October 18, 2016, 07:56:57 PM »
That makes sense! Glad they have one now :)

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Re: The Simple Path To Wealth
« Reply #28 on: October 29, 2016, 02:24:14 PM »
I finished reading this yesterday - my quick thoughts:
- you can get it free in the kindle lending library
- over simplified investment advice from perspective of lifelong investor
- great tips on the HSA and interesting thoughts on SS

how do you access the kindle lending library?  All I'm seeing is that you have to have a subscription to kindle unlimited or pay  for it.

For anyone still wondering about this, you can only do this from your Kindle device (AFAIK).  You search the book and then borrow it.  If you borrowed a book before and have it 'out' still, you have to return that one first.

Thanks to those who mentioned this method!  My library didn't have it but this worked for me.

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Re: The Simple Path To Wealth
« Reply #29 on: November 02, 2016, 05:35:15 AM »
Found it at our library. Placed a hold on the next returned copy. Looking forward to reading it.

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Re: The Simple Path To Wealth
« Reply #30 on: October 22, 2018, 07:29:30 AM »
Read this book over a couple of days, a fantastic read, wise words from an experienced dude whos been through it.

I have asked my wife to read it as well so that she gets another voice to say dont worry when the index and value of stocks go down, all part of the process in the long term, it will go up.


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Re: The Simple Path To Wealth
« Reply #31 on: January 22, 2019, 01:23:21 PM »
I think this is undoubtedly the best personal finance book on investing I've ever read. I take issue with only one claim he makes in the book and I'm wondering if others share this perspective. He makes a big distinction between the wealth building stage (during which time you are accumulating wealth and should invest it all in broad based equity index funds) and the wealth preservation stage (in which you should start to introduce a bond index into the mix to smooth out the volatility). So far so good. In both the book and in Youtube videos, he draws attention to the fact that in our current economy, it is and will increasingly be common for people to enter and leave the job market.  True enough, but from these two considerations he concludes that over the course of one's financial life, one should step back and forth between investing 100% in stock index funds an some percentage of bond index funds depending upon whether one is gainfully employed or not.

I don't see why it would ever be wise to start introducing a bond index fund if you anticipate your period of unemployment will be relatively brief, either because you know your sabbatical will be coming to an end or you fully intend upon reentering the job force once you have a job once more. E.g. if you are on a one year sabbatical from which you know you will return to your job and have enough liquid assets to take care of your expenses, why would you switch to including bonds for just one year? Perhaps one might feel differently about it if one were to quit a job or be fired, but I'm inclined to think that if you anticipate you will be returning to a job sooner rather than later, there would be no point to disrupting your overall strategy because of a short term glitch. Even if you didn't have the cash resources to support yourself while unemployed, surely the best strategy would be to sell some of your equities for cash to tide yourself over until you are employed once more. Perhaps someone can talk me down from this.

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Re: The Simple Path To Wealth
« Reply #32 on: January 22, 2019, 02:00:18 PM »
I think this is undoubtedly the best personal finance book on investing I've ever read. I take issue with only one claim he makes in the book and I'm wondering if others share this perspective. He makes a big distinction between the wealth building stage (during which time you are accumulating wealth and should invest it all in broad based equity index funds) and the wealth preservation stage (in which you should start to introduce a bond index into the mix to smooth out the volatility). So far so good. In both the book and in Youtube videos, he draws attention to the fact that in our current economy, it is and will increasingly be common for people to enter and leave the job market.  True enough, but from these two considerations he concludes that over the course of one's financial life, one should step back and forth between investing 100% in stock index funds an some percentage of bond index funds depending upon whether one is gainfully employed or not.

I don't see why it would ever be wise to start introducing a bond index fund if you anticipate your period of unemployment will be relatively brief, either because you know your sabbatical will be coming to an end or you fully intend upon reentering the job force once you have a job once more. E.g. if you are on a one year sabbatical from which you know you will return to your job and have enough liquid assets to take care of your expenses, why would you switch to including bonds for just one year? Perhaps one might feel differently about it if one were to quit a job or be fired, but I'm inclined to think that if you anticipate you will be returning to a job sooner rather than later, there would be no point to disrupting your overall strategy because of a short term glitch. Even if you didn't have the cash resources to support yourself while unemployed, surely the best strategy would be to sell some of your equities for cash to tide yourself over until you are employed once more. Perhaps someone can talk me down from this.

I agree with everything you wrote. I believe that everyone gets to a stage where they have "enough" (i.e., FI), at which point they should shift their priorities from taking risks to get to FI as quickly as possible to reducing risks in order to stay FI under worst-case scenarios. If one has an extended sabbatical and they aren't FI, I would think they'd want to invest their money in a way which would provide the largest expected value, and thereby either increase the expected length of their sabbatical or increase their expected savings at the time they go back to work (with the small risk that they might need a job sooner than would be necessary with the low-risk route). (The big exception is if they plan on a very specific time period to take off (say, 18 years to raise a child), in which case wealth preservation would be key to meeting this goal, after which you can move back into the wealth growth stage if necessary.)

rudged

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Re: The Simple Path To Wealth
« Reply #33 on: June 10, 2019, 11:10:26 AM »
Is F-you money another name for an emergency fund?

In parts of the book (e.g. Part 1, Chapter 2) Collins implies it is the wealth you have built up so far as you strive to achieve financial independence that could be well below your specific target. It is a sum of money that it would allow you to leave a job that you hate. But in Part 2, Chapter 10, he refers to F-you money as critical because of the uncertainties of life and the fact it can serve as a hedge against the possibility you might lose the job you love.  (Sounds like an emergency fund, which is usually referred to as the part of your portfolio that needs to be liquid.) Later in this same chapter he identifies cash as one of three tools you should use to build wealth (stocks and bonds being the others) and advises “I suggest you keep as little [cash] as possible on hand, consistent with your needs and comfort level” (p. 89).

Frankies Girl

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Re: The Simple Path To Wealth
« Reply #34 on: June 10, 2019, 12:19:05 PM »
Sort of, but not really. It's analogous.

An emergency fund could be FU money. But emergency funds generally are more available/liquid than FU. Having enough to say "fuck this" means you have a healthy amount of funds/investments to weather a long-ish period where you can take your time to find something else without panicking.

Think of FU money as being halfway or better to full on FI. You can use emergency funds to weather short term/unexpected stuff, but true FU means you have a healthy amount already in the machine automatically chugging away making more money for you. It may not be enough to live on indefinitely, but it's already established and shows you are on that road heading in the right direction, so taking a side adventure or pausing at a rest stop isn't going to derail your total journey.
« Last Edit: June 10, 2019, 12:23:32 PM by Frankies Girl »

rudged

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Re: The Simple Path To Wealth
« Reply #35 on: June 15, 2019, 11:25:44 AM »
Sort of, but not really. It's analogous.

An emergency fund could be FU money. But emergency funds generally are more available/liquid than FU. Having enough to say "fuck this" means you have a healthy amount of funds/investments to weather a long-ish period where you can take your time to find something else without panicking.

Think of FU money as being halfway or better to full on FI. You can use emergency funds to weather short term/unexpected stuff, but true FU means you have a healthy amount already in the machine automatically chugging away making more money for you. It may not be enough to live on indefinitely, but it's already established and shows you are on that road heading in the right direction, so taking a side adventure or pausing at a rest stop isn't going to derail your total journey.

Thanks for your reply. His first example of telling his boss he would rather quit than not take a month off to visit Greece strongly implies the amount was in cash and easily assessable. My approach to building up my stache has been to take advantage of tax advantaged retirement accounts. While the total amount that is building certainly makes me more comfortable with the idea that I might walk away from a job, I have to share that the mere fact it is tied up with the retirement accounts and as such not easily assessable would lead me to be very reluctant to do so. It's not merely an issue of convenience, but also the possibility of early withdrawal fees and the fact that I don't want anything to interrupt the progress I'm making.

rudged

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Re: The Simple Path To Wealth
« Reply #36 on: June 20, 2019, 12:13:49 PM »
In Chapter 30 he talks about his strategy for taking money out of his accounts. His goal is to maintain a 75% stock : 25% bond ratio across his entire portfolio. He reminds us that bond index funds belong in the tax advantaged bucket, and in particular IRAs, not Roth IRAs. He then shares that as he approaches the time when he will need to start taking RMDs, he is selling off his assets in after tax accounts (stocks), not assets within his tax advantaged accounts because he wants the latter to continue growing in the tax advantaged environment so long as possible.

So, if I am interpreting him correctly, he is selling off assets in the after tax accounts (stocks) and as such, the rebalancing will involve _selling_ not buying bonds as he gets older.

I realize within his tax advantaged accounts, his stock index funds are probably outperforming the bond index funds, but it is nevertheless a curious result that contrasts markedly with conventional wisdom, i.e. that one's allocation in bonds should increase with age.
« Last Edit: June 20, 2019, 12:34:06 PM by rudged »

kendallf

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Re: The Simple Path To Wealth
« Reply #37 on: June 20, 2019, 12:49:58 PM »
In Chapter 30 he talks about his strategy for taking money out of his accounts. His goal is to maintain a 75% stock : 25% bond ratio across his entire portfolio. He reminds us that bond index funds belong in the tax advantaged bucket, and in particular IRAs, not Roth IRAs. He then shares that as he approaches the time when he will need to start taking RMDs, he is selling off his assets in after tax accounts (stocks), not assets within his tax advantaged accounts because he wants the latter to continue growing in the tax advantaged environment so long as possible.

So, if I am interpreting him correctly, he is selling off assets in the after tax accounts (stocks) and as such, the rebalancing will involve _selling_ not buying bonds as he gets older.

I realize within his tax advantaged accounts, his stock index funds are probably outperforming the bond index funds, but it is nevertheless a curious result that contrasts markedly with conventional wisdom, i.e. that one's allocation in bonds should increase with age.

Many people planning for long term FIRE would be ill-served by the conventional wisdom, as they need the higher appreciation of stocks over the long term, and are less likely to need high portions of their savings in the short term where volatility would be a problem.  Read Collins' latest blog post for more on this (investing for the very long term, as in for future generations:

https://jlcollinsnh.com/2019/03/03/stocks-part-xxxv-investing-for-seven-generations/

Read his most recent blog post for more on this

bmjohnson35

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Re: The Simple Path To Wealth
« Reply #38 on: August 23, 2019, 04:18:39 PM »

Hands down, my favorite book on investing and how to achieve FI.  Whenever asked about a book on personal finance, I always start with this book.  Easy read, straightforward and well laid out. 

BJ

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Re: The Simple Path To Wealth
« Reply #39 on: August 24, 2019, 12:11:19 AM »
My nine year old asked if I could get him a copy of the book.  I bought it when it first came out, read it, and gifted it to my nephew.  My son now wants his own copy.  I ordered it from the library and just got an email last night informing me it had arrived for pick up.  We have a couple more nights of the book we're reading right now, so we should get started on it Monday or Tuesday.

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Re: The Simple Path To Wealth
« Reply #40 on: August 24, 2019, 01:56:50 AM »
Somehow I missed it when this first came out . . . just put it on hold at my county library, which has 4 copies (all checked out, so I guess the book is still popular!)

rudged

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Re: The Simple Path To Wealth
« Reply #41 on: September 27, 2019, 10:55:58 AM »
Where does the figure ten years come from? At both the beginning and end of Collin's book he points out that financial independence can be attained by anyone making even a modest salary if they manage to consistently save 50% for ten years. So let's say for the sake of argument that the person in question has an income of $100 K per year, and, following Collin's advice, saves $50K per year. At the end of ten years the total amount of savings is $500K. Now let's juxtapose that figure with what one would need according to the 4% rule, namely 25 x your current expenses, or in this case, $1,250,000 (25 x 50K = 125K). I do realize that we need to think about the savings as being invested ($50 K per year with dividends being reinvested over the course of ten years) and further that we can reasonably presume the person can expect some raises over the course of a decade. But I guess I'm wondering if the rate of return apparently being assumed in order for financial independence to be attained in only ten years is a realistic one.

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Re: The Simple Path To Wealth
« Reply #42 on: September 27, 2019, 11:52:12 AM »
Where does the figure ten years come from? At both the beginning and end of Collin's book he points out that financial independence can be attained by anyone making even a modest salary if they manage to consistently save 50% for ten years. So let's say for the sake of argument that the person in question has an income of $100 K per year, and, following Collin's advice, saves $50K per year. At the end of ten years the total amount of savings is $500K. Now let's juxtapose that figure with what one would need according to the 4% rule, namely 25 x your current expenses, or in this case, $1,250,000 (25 x 50K = 125K). I do realize that we need to think about the savings as being invested ($50 K per year with dividends being reinvested over the course of ten years) and further that we can reasonably presume the person can expect some raises over the course of a decade. But I guess I'm wondering if the rate of return apparently being assumed in order for financial independence to be attained in only ten years is a realistic one.

I haven't read the book, but I think there are a few reasons this is probably true. In your example, if the person in question made average stock market returns of 10% (after fees), they would have roughly $840k after ten years by my math. Next, taxes and other job-related expenses would go down after retirement; if we assume a 10% combined tax rate ($10k per year, which is probably low for a single person) and $5k of work-related expenses per year (not out of the realm of reality if you're a clown commuter), spending drops to $35k per year, and the 4% rule yields $875k for the required stash, pretty darn close to the hypothetical stash value calculated above.

So it isn't a crazy statement by JL Collins, though I hope he expounds on some of these details in his book.

rudged

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Re: The Simple Path To Wealth
« Reply #43 on: September 28, 2019, 08:56:57 AM »
Where does the figure ten years come from? At both the beginning and end of Collin's book he points out that financial independence can be attained by anyone making even a modest salary if they manage to consistently save 50% for ten years. So let's say for the sake of argument that the person in question has an income of $100 K per year, and, following Collin's advice, saves $50K per year. At the end of ten years the total amount of savings is $500K. Now let's juxtapose that figure with what one would need according to the 4% rule, namely 25 x your current expenses, or in this case, $1,250,000 (25 x 50K = 125K). I do realize that we need to think about the savings as being invested ($50 K per year with dividends being reinvested over the course of ten years) and further that we can reasonably presume the person can expect some raises over the course of a decade. But I guess I'm wondering if the rate of return apparently being assumed in order for financial independence to be attained in only ten years is a realistic one.

I haven't read the book, but I think there are a few reasons this is probably true. In your example, if the person in question made average stock market returns of 10% (after fees), they would have roughly $840k after ten years by my math. Next, taxes and other job-related expenses would go down after retirement; if we assume a 10% combined tax rate ($10k per year, which is probably low for a single person) and $5k of work-related expenses per year (not out of the realm of reality if you're a clown commuter), spending drops to $35k per year, and the 4% rule yields $875k for the required stash, pretty darn close to the hypothetical stash value calculated above.

So it isn't a crazy statement by JL Collins, though I hope he expounds on some of these details in his book.

Thanks! He explicitly uses "ten years" at the very end in the afterward when he summarizes his advice to his daughter, but I may be reading a lot into this. He could also be simply referring to the fact she will be well on her way. MMM in "The Shockingly Simple Math Behind Early Retirement" indicates a 50% savings rate will do the job in 17 years.

Travis

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Re: The Simple Path To Wealth
« Reply #44 on: October 01, 2019, 07:53:06 PM »
I think Collins also assumes (at least he mentions it in other parts of the book) that you'll receive raises or find other ways to produce income during this period.

rudged

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Re: The Simple Path To Wealth
« Reply #45 on: March 29, 2021, 12:20:20 PM »
FYI, I just ran across a scathing review of Collins' portfolio.
https://www.optimizedportfolio.com/jl-collins-simple-path-to-wealth-portfolio/

grantmeaname

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Re: The Simple Path To Wealth
« Reply #46 on: April 07, 2021, 06:05:24 AM »
Reads like an M1 brokerage ad...

 

Wow, a phone plan for fifteen bucks!