This is the most popular NGPF podcast ever, which is why we pulled it out of the archives. Enjoy JL’s advice on gaining financial independence through a simple investment strategy.

It started innocently enough… he wanted to write letters of financial advice to his daughter. JL Collins never imagined that his blog would become a favorite resource for the financial independence movement. His talent for storytelling and simplifying complex topics has boosted the popularity of his blog to over two million page views a year and convinced him to write a book, The Simple Path to Wealth. Hear how this index investing advocate (his stock series is a must-read for those looking to advance their investing knowledge) throws rules of thumb out the window and advises educators on how best to teach concepts like retirement to college students. Enjoying!

Details:

0:00–1:10 Introduction 1:11–4:20 Beginning his blogging career in retirement 4:21–6:09 The Philosophy of Financial Independence 6:10–10:03 JL’s Sudden Emergence 10:04–13 :46 The 4% rule 13:47–17:46 Great things take time – three years to be exact 17:47–23:40 JL’s advice on investing: the simple things are worth the most 23:41–30:11 As long as the civilization exists, index funds will continue to thrive 30:12–34:34 Wealth creation phase versus wealth preservation phase 34:35–35:02 A word from NGPF 35:03–40:46 How bonds make the ride easier 40:47– 49:50 Throwing rules of thumb out the window 49:51–51:25 JL, a master storyteller 51:26–57:14 Saving for retirement is just another way to spend your money 57:15–1 :00:12 Collins’ Chautauquas 1:00:13–1:02:00 Conclusion

Cited sources:

Index funds that JL owns:

QUOTES:

“You can spend your money on many different things… and you can spend it however you want… [financial] freedom.” “10:30 Financial independence isn’t about what you have, it’s about how much money you need. And it’s the balance between those two things that determines whether you’re financially independent or not.”

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Over 5 million have played the arcade game STAX and competed against the computer (and their classmates). The computer wins 80% of the time and they learn quickly about the value of investing in index funds. Find STAX and other Arcade games here.

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Wrap up Financial Literacy Month with hundreds of other educators at NGPF’s National Conference: Financial Wellness Beyond The Trends on April 30, 2022. Sign up for one or more workshops here.

About the Authors

Tim Ranzetta

Tim’s savings habits started at 7 a.m. when a neighbor with a broken hip gave him a dog walking job. Her recovery, which lasted nearly a year, led to Tim getting to know the bank clerks quite well (and building a savings account balance of over $300!). His recent entrepreneurial adventures include driving a chipper, analyzing compensation packages for Fortune 500 companies, and helping families make better college funding decisions. After volunteering in 2010 to establish a personal finance program and teach at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him. to start a new nonprofit, Next Gen Personal Finance. †

Ren Makino

Ren has been working part-time at NGPF since 2014, where he did an internship through high school and college. With his knowledge growing alongside NGPF, he joined the team after graduating in 2020 to work full-time with a focus on teacher onboarding. He is also the editor of the NGPF podcast and makes it accessible to educators on iTunes, Stitcher, and Google Play Music. In his spare time, he enjoys trying coffee from different roasters around the world and trying out new brewing methods, although personal finance gurus tend to warn against buying a cup of joe.

This post NGPF Podcast (Classic): JL Collins on Gaining Financial Independence Through a Simple Approach to Investing

was original published at “https://www.ngpf.org/blog/podcasts/ngpf-podcast-classic-jl-collins-on-gaining-financial-independence-through-a-simple-approach-to-investing/”