@cheddar thanks for the warm welcome. It's amazing how much a site like this opens your eyes. The biggest way my eyes have been open so far is traveling to and from work and how much your car really drains out of you.
@surfhb.
Wow! Great questions that can really get one to think. Below are brief answers. I will thoroughly dig into later tonight thank you.
What does he say that resonates with you? Purposeful planning. After tax income. Converting my 457 into a Roth yes I will take a big hit but then it can use that money to create more tax free money. EIULs which is life insurance that can be borrowed from. This will create another tax free steam of money 15-20 yrs out.
What type of investing does he talk about? Mostly buying notes through a Roth and EIULs.
It looks like real estate and his site wants an email to enter. Looks red flaggy to meYes it would look red flaggy to me but Jeff has a very good rep at biggerpockets. That's how i first found him and listen to his podcast.
If it doesn't conform to this list regarding market investing then I'd run
1 Develop a workable plan.
Yes he preaches creating a plan and putting it to work for you. Purposeful planning.
2 Invest early and often.
Yes especially for the EIULs. Buy a note collect buy another. Etc.
3 Never bear too much or too little risk. He speaks of discounted notes in first and second position. Unsure of the actual risk. That's why I am educating myself.
4 Diversify. Yes in the sense of own a rental property, own notes, own an EIUL. Though it's all Real estate based though
5 Never try to time the market. He does not time the market, though if he did I wouldn't
6 Use index funds when possible.
Yes from the perspective of EIULs but he never speaks of say vanguard funds mostly notes
7 Keep costs low.
Haven't gotten that far yet. So I'm not sure what the. Cost would be.
8 Minimize taxes.
Absolutely. One of his main goals is tax free money
9 Invest with simplicity.
Not sure what you mean here
10 Stay the course.
Back to purposeful planning. Create the plan then put together a strategy to put the plan into action long and boring but it works and will create financial independence.
http://www.bogleheads.org/wiki/Bogleheads®_investment_philosophyI will check this out
The Collins site has great info tooYes it does. I frequent it also.
http://jlcollinsnh.com/2011/06/08/how-i-failed-my-daughter-and-a-simple-path-to-wealth/I have read this already. I like Collins site very much. I was all set to buy the vanguard fund and make my 6-8%. Then I came across notes and thought I should educate myself.
@arebelspy Thanks for the offer. I will reach out to you.
@another reader. I would love to hear your views also. Either here or in a PM. Thanks