Author and financial blogger JL Collins brings his refreshingly unique and approachable take on investing to Google.
The author of “The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life”, JL offers easy-to-understand, effective tips and resources to understand investing with confidence.
In this interview with Googler Rachel Smith, JL Collins discusses money and investing, including: how to think about money and investing to build wealth, how to avoid debt, how to simplify the world of 401(k), 403(b), TSP, IRA and Roth accounts, TRFs (Target Retirement Funds), HSAs (Health Savings Accounts) and RMDs (Required Minimum Distributions).
He also talks about what the stock market really is and how it really works, How to invest in a raging bull, or bear, market, and specific investments to implement financial strategies.
Learn more at jlcollinsnh.com or get the book here:
Moderated by Rachel Smith….(read more)
LEARN MORE ABOUT: IRA Accounts
INVESTING IN A GOLD IRA: Gold IRA Account
INVESTING IN A SILVER IRA: Silver IRA Account
REVEALED: Best Gold Backed IRA
The Simple Path to Wealth | JL Collins | Talks at Google
In an age where complicated investment strategies and financial jargon seem to be the norm, JL Collins comes along with his refreshing, straightforward approach to achieving financial independence. In his talk at Google, Collins presents his book, “The Simple Path to Wealth”, and discusses how to build wealth and live a financially secure life with simplicity and ease.
Collins begins his talk by sharing his own personal journey towards financial freedom. As a young adult, he admits to making the same mistakes many of us make – spending frivolously, accumulating debt, and not focusing on long-term financial goals. It was only after experiencing the stress and instability of relying on a job for income that he decided to make a change. Collins set out on a mission to understand the principles behind building wealth and achieving financial independence.
The core message of Collins’ book is simple: spend less than you earn, invest in low-cost index funds, and let time do its magic. Although the idea may seem overly simplistic, Collins emphasizes that it is the path followed by many successful investors. By investing in low-cost index funds, investors can enjoy the long-term growth of the stock market without the risk and fees associated with actively managed funds.
Collins addresses one of the biggest concerns many people have when it comes to investing – the fear of market volatility. He reassures the audience that, historically, the stock market has always recovered from downturns and gone on to reach new highs. By holding steadfast to his investment strategy and not panicking during market drops, Collins has seen his portfolio recover and continue to grow over time.
Another key aspect highlighted in Collins’ talk is the importance of having a solid emergency fund. He advises saving at least six months’ worth of living expenses in an easily accessible account. This provides a cushion during unforeseen circumstances and eliminates the need to tap into investments prematurely or take on high-interest debt.
Collins also delves into the topic of home ownership, asserting that it is not necessarily the best investment for everyone. He challenges the conventional wisdom that owning a home is always superior to renting, explaining that buying a home comes with significant costs and ties up a large portion of one’s net worth. By renting, individuals can redirect their money towards investments and have more flexibility to move for job opportunities or personal reasons.
Throughout his talk, Collins injects humor and anecdotes, making the topic of finance more accessible and relatable. He shares valuable insights on retirement accounts, tax optimization, and how to calculate the amount needed for financial independence.
“The Simple Path to Wealth” is a refreshing take on personal finance and investing. Collins’ approach reminds us that building wealth does not have to be complex or stressful. By sticking to a few fundamental principles, we can achieve financial independence and live a life free from financial worries.
In summary, JL Collins’ talk at Google presents a simplified approach to achieving financial independence. His book, “The Simple Path to Wealth,” encourages readers to spend less than they earn, invest in low-cost index funds, and remain calm during market volatility. Through his relatable storytelling and wit, Collins provides a refreshing perspective on how to attain financial security and unlock a life of abundance.
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Well that would be impossible to do considering I'm in my late 50s and I'm more interested in investments that could set me up for retirement in my 60s, my goal is at least $2million.
When everything started to tank, I lost more than $37,800. Not because I was involved in a heated exchange. Because that's what everyone else said, I was just dumb to hold, and that's why. Even while I still have responsibility for my decisions, I now consider myself to be a better investor because I am more aware of the potential pitfalls. I was in the market for more than 3 years before I realized that. I'm happy to have discovered a way to get my money back at approximately $8,600 per week in profits. Many thanks, Vilma Kim Arnold.
❤
Be warned! The amount of bots in the comments is high. They cast doubt on the content of this video and then 'recommend' some 'advisor' in reply to their own comment. This is probably harmful to people new to this stuff. I hope it gets cleaned up soon.
For those interested, the bot argument is a Buffett quote taken out of context, "investing requires a certain amount of expertise." While true on its face, this statement is only used to steer you to stockpicking or worse. There are and always will be thousands of people trying to get you to pay fees for picking your own stocks. They don't care about your pension. Collins does. That is why he recommends index funds, that is why it is called the simple path to wealth and that is why he has already defeated the argument the bots are using to get you to subscribe to some horrible 'advisor'.
One of my best performing assets is my home, so I respectfully disagree. Homeownership is a mistake only if you buy more house than you can afford. I paid off my mortgage < 15 years and now live very comfortably on a single income. I paid $315K for my house. My coworkers who rented is now paying $1700+ in rent while I have no mortgage. She has no assets while my house is worth $750K ++ Homeownership is financial peace and a good investment increasing your net worth.
These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession– it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.
Chicago mit alumni here as well! Woot woot!
Own some multi families on far west side..
Honestly, I'm unsure if investing is a wise move right now. Take note of how frequently things fail. As I still have some time before I retire, I'm still looking for a better strategy to invest my money despite reading charts and predictions from well-known investors from the past and present. In order to generate passive income, I want to build a solid and reliable portfolio. I’ve been sitting on over $745K equity from a home sale and I’m not sure where to go from here, is it a good time to buy or do I wait?
Watching this in 2023. This video is aging like fine wine.
These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession– it requires a certain level of expertise.
Stock index and bond funds…oof, check yourself
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.
Gold!
This guy can't even breathe because of his obesity. I would take his advice with a pinch of salt.
I've learned that productivity doesn't just come out of nowhere – it takes a lot of planning, commitment, and sticking to it. But I'm so grateful for my mentor, Mr. Zachery Micah Demers, because he really helped me get my finances in order. With his guidance, I'm actually earning money every single week now! It's been such a relief to have that stability
Very good talk but equally clever by Google to bring successful self development book writers to give a talk and get the best marketing at the same time.
If you close your eyes, it sounds like Joe from Family Guy teaching finance
Successful people don't become that way overnight. What most people see at a glance wealth, a great career, purpose is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life,.,.,,.
Welcome to crypto trading investment.i am neilina luara cailie from Washington DC. Do you know you can earn $150% of dollars for any investment weekly.
Hello Mrs Natasha the bitcoin trader is legit and her method works like magic I keep on earning every single week with strategies..
Rõ ràng đó là so 0…và không được gì…họ nên ngẫm những gi trai qua…sự that
Tôi mệt mỏi và khổ đau lắm rồi..nhận lại điều bất công và sự trục lợi của 1 số nước 1 số tổ chức
Ta nên dừng lại
Finally seeing a shaky foundation for Google now with Bing AI. This guy was right.
Major indexes booked their worst yearly performance since 2008 thanks to drivers like the recession, war, hiked interest rate and inflation which so far doesn’t seem to be easing off, so I’m left wondering what 2023 has in store for us investors, I’ve been sitting on over $745K equity from a home sale and I’m not sure where to go from here, is it a good time to buy or do I wait?
Can't believe he wrote a book on a simplistic and lazy strategy (buy and hold VTSAX, hold for the long term), and naive people buy this in droves (shows the extremely low level of basic financial education in society). Having a balanced portfolio based on modern portfolio theory handily beats the market with less volatility — and can be easily made automatic. Just backtest this against a portfolio that includes small cap, emerging markets, or even a simple 3-way industry specific portfolio divided between health/tech/staples and you'll see what I mean.
what would happen if vanguard went broke
She is extremely beautiful, and its not just her looks.
I learned that the stock market was a rich man's game (yes, grandparents lost it all back then and preached that forever) but I've been around long enough to really taste how great it can be. To be profitable, with inflation at 6.1% These are surely desperate times, but in my opinion, there is no market condition that a good financial advisor cannot navigate, especially those that have existed since the crisis of 2008 and before.
This interviewer is brutal
Making money is not the same as keeping it there is a reason why investments aren't well taught in schools, the examples you gave are well stationed, the market crisis gave me my first millions, people shy away from hard times, I embrace them.. well at least my advisor does lol
30
Bro has a comforting, trustworthy voice
I learnt most of these principles about seven years ago. A lot of people have been trapped strongly in the matrix– Go to school, get a job, and then slave your whole life. Many miss out on life-changing information that could have great effect on their finances. I played with the stock market sometime in 2020, and I was surprised at how well it turned out. I want to put in $80k more into the market. I heard people are making really great returns despite the downturn. Any recommendations?
Buy only dividend paying stocks…..that all you need to do. then when the companies are making more profit so are you.
Wish I had made different life choices in some regards earlier do not regret running a lodge in Canada living in Honduras adopting a child but financially it did put me behind making sure my son does not make the same mistakes so that he's ready to go at anytime and has that security
I just see this video which is 5 years old. I would like to ask Mr.JL does it still valid as of today March 2023? S&P 500 is -ve 20%…..
The simple path to wealth is to do something you love. The wealth is just the reward of it.
Investment in stocks is a great way to invest your money. The team is constantly checking the market for changes and make sure that you are always informed about the best time to invest. As a result, I have made more money than ever before, and I don't have to manage my portfolio on my own! Invest in stocks, it's worth it!
It is possible to outperform in the long run if you invest in small cap value, but it is more volatile and it only works if you stick to it.
Even my cat knows this things. You at Google really needs those advices? At Google, I thought only brilliant people worked there!
Why Google talk listener smarter than Ch!nese and much more in long term, cuz ch!na ain’t got Google
I agree with this wholeheartedly. Mind you, when Covid struck I got out at the market immediately and got back in 2 months later when everything bottomed out…
What is the best UK equivalent to VTSAX?
I need advice… Are there any instruments that can force us to keep the money invested in one of those indexes? In other words, what can we do to prevent from selling your shares in an index to get access to the cash? I can't figure that out.
The maket trend can turn around very quickly. In fact, the indexes often switch from a bear market to a bull market when the news is at its worst and the mood of investrs is at its lowest point. I read an article of people that grossed profts up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?
Mr Collin has perfectly nailed it!!!
thats the way to go..