The Simple Path to Wealth | JL Collins | Talks at Google
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: goo.gl/bvWZLq
Moderated by Rachel Smith.
I've just completed the sale of a property located in Portland and I'm considering reallocating the resulting funds into the stock market. Despite prevailing sentiments regarding its readiness, I'm unsure about the timing of stock purchases. How long until we witness a full market recovery? Furthermore, I'm puzzled by the methods allowing others in the same market to achieve gains surpassing $200k within months.
The present market conditions could offer chances to enhance earnings quickly, yet to implement such a plan, expertise is essential.
Undeniably factual. Despite my absence of prior investing acumen, I ventured into investments pre-pandemic and managed to amass a profit of about $450k within that year. Essentially, I solely relied on professional counsel.
Lately, I've been researching advisors, but the market updates I've encountered haven't been very positive. Who's your guide?
'Laurelyn Gross Pohlmeier' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I searched for her complete name on the internet and located her page. I then sent an email and scheduled a meeting to converse with her; now, I'm awaiting her response.
The most important thing that should be on everyone mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the word. This is still a good time to invest in various stocks, Gold, silver and digital currencies.
That's so true. but if i may ask, do you trade all by yourself?
I have been investing in stocks for over 10 years now and I have made a lot of money. My portfolio has grown exponentially and I can't thank stocks & TERESA JENSEN WHITE enough for such an amazing way to make money!
How can this person, TERESA JENSEN WHITE be reached please...
Wow! I just looked up this person out of curiosity and I'm super impressed with her qualifications. Thanks for sharing.
@@presley492 totally a real conversation between two human beings 100%
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life beause I invested early ahead this time .
Exactly ! That's my major concern and what lucrative investment can one venture into with the current rise in economic downturn
In fact, I had no prior experience or understanding when I began investing in 2020, but by the end of 2023, I had made a profit of almost $850k. All I had been doing was going by what my financial advisor had told me. This demonstrates that all you truly need is a professional to assist you; you don't even need to be a great investor or put in a lot of work.
@@noah-greenewho is your advisor please, if you don't mind me asking?
*Gertrude Margaret Quinto* is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I swear with his voice he could tell me anything and I would believe him. He's like a big friendly grandpa bear. A rich one.
You are right, also her laugh is ideal and completes the image full circle
A bearish sign is not wanted in this context.
+
Sounds like a chain smoker to me. Did your grandpa smoke?
Is he really rich? I am not sure about that, but I really believe in him. First 3 minutes of the video, I already bought his book.
"time in the market is more powerful than timing the market"....a good quote
You should contact Sophia Lane via email at lanesophia084@gmail.com or on instagram at sophy_ability or whatsapp/telegram on +1(361) 245-0314. If you need legitimate help with your credit card, bitcoin, forex account, PayPal, western union, money gram, G-Cash, credit score, instagram and many more. He does not take upfront payment and can solve your financial issues. He is fast and reliable.
Yeah...but that depends on your time horizon and life stage.
2020 when we don't trust the market...
Definitely. And so true one! Timing the market is one of the worst things one can do - and yes, I've learnt the hard way by being impatient, wanting those great returns quick. Pick great companies and give them time.
@@SenseiEli New Zealand farmer has set a Guinness World Record for wheat yield - Finishing up at 258.8 bushels per acre, the wheat paddock produced 17.398 tonnes per hectare www.realagriculture.com/2020/07/new-zealand-farmer-sets-new-wheat-world-record-at-258-8-bu-ac/
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.
@Alexis Anders One of the biggest mistakes investors can make when it comes to stock investments is giving up just as the indexes reach support and begin to rise after a bear market bottom. I've been speaking with a coach for a while now primarily because I lack the background knowledge and mental toughness to handle these reoccurring market conditions. I made over $220K during this drop, which proved that there is more to the market than the average person is aware of.
@@louisairvin3052 I lost over $9000 this week, which is money I'm putting aside for retirement ; who is this individual that advises you?
@@anthonyrussell5718 There are lots of them but almost everyone works with KAITLIN ROSE STERNBERG this days, she's getting more recognized by day, she strategies has been the best this period
@@louisairvin3052 Thanks, I merely looked her up on Google and was highly impressed by her credentials; I got in touch with her because I need all the help I can get. I just set up a phone call.
Think of secondary means of making more money.think of crypto trading investment.i am neilina luara cailie from Washington DC. I am always here to help you trade or invest.
Please don't make the huge mistake I made! Collins mentions never to panic and sell. I did just exactly that in October of 1987. The month before I made my first ever investment in the stock market. I bought a "safe" mutual fund at Merrill Lynch. One month later on "Black Monday" was the largest EVER single-day drop in stock prices. EVER. Including during the Great Depression . Just the month before I had invested $40,000. Overnight that turned into $22,000. I foolishly panicked and pulled it out. This is sickening today to realize that if I never added another penny that would be around $950,000 today. HUGE MISTAKE. Exactly what he said TIME IN THE MARKET is the secret to wealth...
Thanks for sharing
One of the most intelligent people who doesn't have an agenda. This is the advice he wanted to give his own daughter (whom he wants nothing but the best for in life), and the message simply spread. The reason his message exploded into a world-wide audience is because it is true. He wasn't looking to gain anything out of it for himself, but such things turn out this way.
another important point is, nobody can predict when the market will crash. if anyone did, they'd be richer than Warren Buffett. so, basically, anyone who's publicly 'predicting' any crash or rise, just know they should already be richer than Warren Buffett but they aren't. so they're trying to influence people (scam).
_"It shouldn't take 58 minutes to learn it, though. It's really 'just buy index funds.'"_ It doesn't. It takes 10 seconds. What takes a while is convincing yourself that it's true. _"I do wonder what will happen when everyone starts buying them, though."_ He answered that in the questions. Both passive and active investors in stocks are non-controlling owners-however they chose to invest this won't affect the total performance and valuation of the market-through supply and demand passive investors will push prices up and down just as much as active ones-they just opt out of the the gamble on who's gonna win: Their influence makes every stock go up or down in the same way (a market downturn will push down the price of solid companies in the same proportion as bad companies). If too much people opt out of picking stocks, better and better opportunities for easy profit will appear, a sort of quasi-arbitrage, and those with skill and will are going to tackle them using value investing techniques. If too much people go on trying to pick winners, there will be less chance of success and indexing becomes more attractive again.
Ed umm....these young people, who I’m sure are very smart,think tax deferred headings (buckets) are the investment. Our schools and their parents have failed them in financial literacy.
Ed
GOLD beat berk.b (buffet) shares over the last 20 years. To this man's credit, even Warren isn't right all the time, he is simply right more than he is wrong. No one can time the market, but you must expect that if you get lucky one time, odds are, you will not get lucky in the next turn. A smoothing of your decisions will occur.
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.
Munger and Buffett have both achieved an incredible feat with Berkshire. They've turned thousands to billions, and have made a lot of people wealthy in the process. I really saw the potential of the stock market by reading Berkshire's annual letters. I recently sold my $674k apartment in the Bel Air area and I'm hoping to throw it into the stock market. I just don't want to lose everything.
@@BenjaminMcLeod815 the mkt has gone berserk! whether you're a newbie or a veteran trader, everyone needs a sort of coach at some point to thrive forward.
@@tradekings5433 Well agreed, that's the more reason I prefer my day to day mkt decisions being guided by a invt-coach, seeing that their entire skillset is built around going long and short term, at the same time laying off risk as a hedge against inevitable downturns, coupled with the exclusive information & analysis they get, it's near impossible to not out-perform. I've been using a coach for over 3 years, and my portfolio has yielded from initial $500k to aprofitable amount now
@@tradekings5433 how do one get hold of this your coach?
@@BenjaminMcLeod815 Absolutely, MARIA ELIZABETH FILINDRAS is my portfolio coach, and my trading account basically mirrors that of hers, it's quite transparent and automated, so I don't have to be active during trades. You can vet her if you like.
Moderator: Your in a room of above average intelligent people JL Collins: Perhaps, but not in investing love his inherent sharpness!
I'm sorry but intelligence is much deeper than what they represent.
Not sure why should said that, seemed pretty snobby.
she*
*you're
I once stood in a room full of very intelligent people and watched as a very young guy pitched his startup to them. It was a scam, and anyone with basic training in critical thinking would have realised it right away. I watched as he won them over, appealed to their greed and psychological biases, spoke one logical fallacy after another and a bunch of claims he couldn't possibly back up. In the end they were jaded and in 2 years he had robbed over $60 million from them, just to disappear away. Intelligence is good, but it does not mean you know how to think. One can still be gullible, lazy, biased or unfit at something no matter what his/her basic IQ is.
His book should be required to be read in high schools.
THIS!! It would change lives for the better.
C’mon, you think the leftist shitheads that run our schools would allow that?!
@@paddyoak1 geezus, not everything has to be political. But it’s a fact that the more education you get, the more left leaning you are, so the sentiment that republicans are uneducated morons actually fits as a general demographic observation. And you’re one of them. Congratulations!
@@paddyoak1 Kind of the opposite, they won't teach kids valuable information so they'll grow up uneducated to be part of the workforce and never gain anything valuable out of life. The last thing the powers that be want is an informed working class
@@elliotjames1273 jajaja leaning to the left. Really?
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.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. I know someone who made over $350k in this recession influenced market, but to the best of my knowledge, it was through a financial advisor.
Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2019, and I return at least $21k ROI, and this does not include capital gain.
@@martingiavarini Would you mind telling me how to contact this specific coach using their service? You seem to have the solution, as opposed to the rest of us.
@@hermanramos7092 I really don't like making such recommendations, because everybody's situation is unique. But there are many freelance wealth managers you could check out. I have been working with “Catherine Morrison Evans” for about four years now, and she's really, really good. If she meets your discretion, then you could go ahead with her. I endorse her.
@@martingiavarini Thanks for sharing this. I did my own little research, and your advisor looks advanced and experienced. I wrote her and dialed her twice but she didn't pick up so I scheduled a phone call.
Time and time again, I see that the fundamental quality to succeed with money is to be humble. To be who I am and conduct myself with the flaws that I have and stay humble and agile enough to admit when I am wrong and correct the path. As years passes, humble and patient people become my real heroes. May Lord give us the change of heart to practice same virtues as this good man.
Well said Anoop !
Well said. The idea is to stay away from the hubris. Real Wealth is something you have when you have no money - its always a reflection of character.
Amen!
"As an investor I don't have to figure out who the winner is gonna be ... coz I own them all"
"When you buy a house, you are not making an investment. You are making a lifestyle decision" - JL Collins
Over 20 years my husband and I ALWAYS bought properties as investment vehicles. With only one exception (over 10 properties) we "did well." The only one we considered a "failure" was our Cocoa Beach, FL, condominium, which we purchased in 2006 (at the height of the real estate market!) for which we "paid too much." But we had paid cash, and over the years we never had more than one month vacant, ownership expenses were reasonable, and we moved into the home in early 2019 as our primary residence. And FINALLY its value is back to what we paid for it.
@@candecarro May be I guess 'house is a lifestyle choice' applies only for those early in life trying to buy their first house. If you can afford more than a house its definitely more of an investment choice. Thanks for sharing, good luck!
yes and no, some are emotionally buying, some rational buying. I bought a condo and replaced the rent with mortgage. With inflation and indexations of rents from the last years and refinance that I did 2 years ago , finally my mortgage is smaller than the rent in same area same surface. My mortgage will end in a few years and I kept to invest and save as before mortgage, more now. The problem is when people are buying something too big for their income...
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?
@@harrietlancaster44 That's right, you can avoid the traps of lifestyle inflation by consulting an expert advisor to help you plan for your short- and long-term goals; it all comes down to proper guidance. Over the past two years and six months, I have seen my income build wealth and now have a fully paid off house and at least $650,000 in stocks. All this is the result of subsequent investments with my savings and the application of expert advice.
@@colleen.odegaard Nice, who is the Financial Advisor aiding you if this is not much i'm asking? my retirement plans are going down the drain with my 401k particularly losing everything it gained ever since 2021.
@@colleen.odegaard Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
@@colleen.odegaardalways f4king scammers, you guys suck
Listening to JL Collins is like laying on a bed of huge fluffy pillows. So relaxing, you take in all his great wisdom while in a relaxed state of mind. This was an excellent talk !
So his voice is like heroin?
Have you listened to his meditation for when the market crashes.... very calming.
The man is a common sense machine. No agenda. Just solid principles.
his voice is so smooth
It's like John Goodman sipping a nice bourbon.
Lol...the White Barry White? Good man, good advice.
Single malt 18-year-old whiskey
Nguyen Quang Ngoc the man should narrate documentaries.
His audiobook is pretty sweet he's talking the whole time. It's pretty cool
This guy needs to be a voice actor in his spare time. His voice is soothing and smooth
Voice acting is 90% acting and 10% voice, but yes, his voice is very cuddly and authoritative.
Should be in Skyrim or something.
This video changed the way I handle my finances three years ago. Just like the moderator said, he is the first person, at least among the ones I come across, who tells you exactly where you should invest your money. Very refreshing. Nothing vague. No more confusion and tinkering. It made my life so much simpler. I can actually focus on saving and getting more money to buy VTSAX. Thank you Google and JL Collins.
I first heard this advice of investing in index funds in my Intro to Economics class in college back in 2014 -- my textbook was written by Paul Krugman and he expressed the exact same thoughts about why index funds and pegging yourself to the average market is the best way to go. Actually, Warren Buffet himself has gone on record saying that the average American would be better to invest in index funds.
professional advisors aren't allowed to tell specific stocks/mutual funds to go
My dad found vanguard in the 80s. Started me off with a tiny investment with them. Now as a 30 something i love them and recommend them to everyone
Your dad was already in his fifties when you were born?
Pretty sure they meant 1980's.
@@Elaba_ hahahaha
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.
As you plan your retirement, be sure to talk with a financial advisor who can help you make the most of your retirement investing scheme.
@@harrisonjamie794 Very true, If you're looking for help building a retirement nest egg, you most likely want a certified financial planner with expertise in retirement planning. With the aid of a coach, I grew my reserve from $160k to almost $600k during this Red season.
@@MarcusFred-wn3iv How can one find a verifiable financial Planner, I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.
@@harrisonjamie794 KRISTIN GAIL CUNNINGHAM. On the internet, that’s the financial advisor I use. She’s verified; you could also read more about her and then communicate with her. it’s always good to do your research before putting your money into any investment.
@@MarcusFred-wn3iv Thank you so much! Found her webpage and left a message. Hopefully, she responds.
"time in the market is more powerful than trying to time the market" JL Collins
Time in the market is more powerful than timing the market.
Jl colins bwas NOT. The original person who said that time in the quote.
Have watched many of JL Collins show. The love for his daughter, has got him many daughters and sons albeit unconciously. Hats of to you JL Collins. We love you
"When you buy a house, you're not making an investment, you're making a lifestyle decision." Gold.
Where are you supposed to live? Stupid.
@@wolfthequarrelsome504 ignorant piece of shit. Did you even watch the video? Get an education before you make an ass of yourself.
JL Collins was a pivotal mentor in my life, through his blog, for my wife and I reaching Financial Independence.
JL Collins is one of my very favorite financial bloggers/writers. Great interview and kudos to the interviewer for asking good questions and letting him fully answer. Excellent interview.
Hello. Can you please tell me where to find his blog!?
The
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future. 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.
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
Very well articulated; I wish I had more time for trial and error, but I'll be 56 in August and I need ideas and advice on what investments to make to set myself up for retirement, especially with the looming inflation and recession; my goal is to have at least $1 million by the age of 60.
There are a lot of strategies to make tongue-wetting profit especially in this down market, but such sophisticated trades can only be carried out by proper market experts
@@PhilipMurray251 Yes, I've used such expert, an investment adviser at that, and she really worked magic on my portfolio, initially I was always in and out of the market, selling at a complete loss but for the past 2years I've been mostly in the green, earning steady profit irrespective of market movement thus gaining over $850k+ in the past 2years
@@marianparker7502 Sweet! how'd you go about getting a proper investment-adviser like that, I've had plans to touch base with one, I'm just not sure how to go about it, I don't mind looking up this one that guides you.
@@Natalieneptune469 The Investment-adviser is actually quite known, Nicole Ann Sabin, she has a wide presence on the web, you can just search her.
@@marianparker7502 Thank you, I researched Ms Ann and I went over her site and qualifications, she seems pretty tight and I've scheduled a call.
I really want to compliment the moderator- absolutely fantastic job and fantastic questions.
I agree! I love her laid back style and asked great question and actually let him answer. Many moderator's don't have the skill she does. She did great!
stephen geraci a moderator that has the ability to not interrupt someone is a very impressive skill.
I agree, not many can do it well.
I bought my house in 2008 for 57k. Sold it in 2018 for 160k. Put about 100k in my pocket after closing cost etc. If I had been renting there would be NO 100k flowing into my bank account. Today I am debt free and have about 60k in the bank. The point is, every one will have a unique financial story in the end. There is NO 1 financial plan fits all that is going to work 100% of the time. Although I agree and like the investing option of index funds, to make a statement such as "Why your house is a terrible investment" can be a misleading statement and not true in my case. Good luck to all in your financial endeavors.
Congratulations! You bought at just about the perfect time and sold at just about the perfect time! But here's the thing: If you had put that 57k into an index fund and reinvested the dividends, the value in 2018 would have been around 300k or more instead of 160k. Your perfect timing 'investment' on a house STILL didn't even get close to matching VTSAX in performance over the same period. Between buying and selling costs, RE taxes, insurance, and maintenance, hidden costs can often wipe out any financial gains from buying and selling a house. Collins is saying that it's perfectly fine to buy a house to live in. That's a lifestyle choice, a common one. But never buy one thinking of it as an INVESTMENT, because it won't ever be a good one, comparatively. That's "Why your house is a terrible investment." Yes. Even yours.
Finally the father I never had to teach me these things!
billions around the world grow up without a father bro... never feel bad for that, feel bad if you do the same to your seed, regards :3
Acquire a skill, work hard, live below your means, stay out of consumer debt, pay off your house quickly, save and invest=retire comfortably. It's possible for everyone. Alas, the above is probably too short for book form.
Not for everyone, unfortunately. There are a lot of positions with a low salary( Well-paid jobs are limited and if you not smart enough to get one of it you will save money for a long time. Investing in an index is very conservative and mostly depends on how much you can invest. Nevertheless, the path to financial independence exists and it's simple if you are smart enough and have a good education and well-paid job at the beginning otherwise it's difficult.
'Acquiring a skill' is horrible advice. What you said is far too simplistic in general, you priortized collecting assets far too low as most people do. Dont be confused between an asset and a liability as well. Your income is your initial investment (in this case investing your time/labor), you can do anything that will get you the appropriate amount of income. The real work is what you do with that income, that is where wealth will be made or financial security will die. You have to reinvest that income to generate further income
@@RomanTchekashov kzhead.info/sun/ptGJh6h_i1-Meas/bejne.html
This is the stupidest advice i have ever heard....why work hard at a job when a job is @ the highest tax??? Why Save money when the government PRINTS trillions??? Why pay off a house when you can borrow money at historically low interest rates??? I have NEVER met a multi millionaire who did what you advise. Your advice works if you want to have a million dollars in 50 years but by then 1 million will be worthless due to inflation
@@RomanTchekashov We can be encouraged by the findings of recent large studies e.g., Everyday Millionaires by Chris Hogan, the largest study ever done on how ordinary people reached a million dollars of net worth. About 90% of them did it by their own efforts (I.e., not by inheritance) and a large number of them never had a six-figure income in any year of their working life. The fact is that everyone can learn to improve his or her income, savings rate, wisdom and skills.
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,.,.,,.
The thing about been successful is working toward it and not going the other way round
It's obvious everyone is doing this online Investment
Investment is the key to achieving success with the current pandemic slowing down so many businesses aww
Yes I'm a living testimony of Stacy Griffin, her platform has also done a great thing for me
She have changed my life and financial status for the best. All thanks to my aunty who introduced me to her. She is obviously the best, trading with her gives me joy of earning
Much gratitude and respect to JL Collins. He has helped me so much! I came across his blog for the first time at age 41. I had no idea about index investing and always thought I needed a manager. Fast forward two years later, I saved up to invest in VTSAX, contribute regularly and transferred my Roth and traditional IRA to Vanguard as well. Thank you, Mr. Collins, for sharing your knowledge, wisdom and experience. You have changed more lives than you know!
At what point are you adding bonds to your portfolio?
It’s by far The Best Informative video I’ve ever watched ! Thank you Mr Collins for sharing your knowledge in Stocks ! I liked that your answers were direct to the point ! You are Awesome !
His method is the best way to invest and his book and blog are the best information on investing I've come across in my life.
Richard Carey 9
It pretty good conservative advice, bit I have done a lot better with the data I have learned from Fool.com.
How many things have you come across? 2?
@@tompaulcampbell and what kind of time period is that over? The research has shown repeatedly over and over that picking stocks doesn't beat the index. Fool might fool you for a few years but 20 years down the line you'll be cursing yourself.
Wokanshutaiduo Snape Twenty-five years, approximately. Check out their stats.
What a genuine being, I am so grateful to have come across this google talk.
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😊
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this, are you a pro investor?
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $508k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choi
that's impressive!, I could really use the expertise of this advisors , my portfolio has been down bad....who’s your financial advisor or coach, do you mind hooking me up?
Honestly, How can I be part of this project I earnestly hope to build a strong financial future I'm interested to take part, who's the person behind your success?
I've actually been thinking of reaching a portfolio-adviser, my 401k and stocks been losing everything it's gained since 2019, mind if I looked-up this one coach you use?
The best line comes from the beginning when the interviewer says he is in a room full of above average people and he slyly replies “perhaps not at investing”. Its so true, everyone thinks they are above average at investing and even if you are the best at something else does not mean you have an edge with investing.
Honestly before watching this video I was a bit edgy.. but now at the 50th minute, my nerves have calmed down, I feel so relaxed and at peace.. hearing his voice itself is a therapy.. Thank you JL Collins..
"Simple is more powerful.Simple is what simply gives you the result."JL Collins
This man is a straight shooter with a great deal of wisdom. He knows the real deal. BTW, there is no worry about index investing becoming the dominate mode for all investors. The stock market is legal gambling and the human race loves to gamble. After all, there are gamblers who do hit the jackpot, and that is what keeps people buying individual stocks... Yes, avoiding financial advisors is his best advise.
It is remarkable how underrated this advice is.
Ironically his and Jack Bogle's voice are in the rare categories where it's a pure pleasure to listen to. His international investing advise is also directly in line with what Jack's philosophy was. I am 55 and looking back when I bought my first investment at 18 which was a hot small cap, I really agree with VTSAX and then add bonds when you retire being the easiest way to success.
Bottom line, invest index, never cash out. And die. Great! Looking forward to it!
Never cash out? What? The entire purpose of investing is that you give up things you could have now, in order to have more later. If you never use your investments to buy whatever you want in life (a house, a family, education, whatever), then what is the point of it all? And the movie clip that this guy remade even says exactly that. Now, if you already have everything you want and you just like seeing the number in your investment account grow, fine.
After the first 2 minutes I like this guy already
He has done 2 episodes of the ChooseFI podcast too, both are great. Episode 019 & 034.
He's an excellent speaker, and makes things so simple and easy to understand.
Wise man! The best one hour I've spent yet.
His approach to buying vs renting mirrors my own: my house is not an investment vehicle; it is a lifestyle choice. It is a secure roof over my head and a place to park all my stuff. I don't have to worry about the landlord selling the place out from under me and having to move. In exchange I acknowledge that I might be costing myself some money vs renting (dependent on local market conditions). Also, while acknowledging that he's talking to an American audience, the rent vs buy calculations can differ wildly. Where I live, rentals come unfurnished, and you still need to supply your own whitegoods etc, so the moderators example of the broken refrigerator will still be your responsibility, which makes the 'cheap' rent perhaps not so much.
One of my favourite videos on financial independence. JL Collins is an inspiration.
Cant believe I'd never heard of this guy. He is great! And such a calm manner of speaking. It had a whole SNL Delicious Dish vibe going on in just the best way.
I’ve recommended his book countless times. It’s the best personal finance book I’ve ever read
Uncle Jim! I love your book on Audible!! I just rolled over my 401k into VTSAX and VBTLX today! 80/20 mix I feel is right for me at this time. So happy to simplify and accelerate my path to financial freedom! Thanks for sharing your wisdom with us!
isn't VTSAX the REIT index?
Listened to the audio book three times. Great insights and simple logical financial advise.
I've been following JL Collins for years and happy to see that he was invited to a talk at Google.
Never heard of him??
That was AWESOME. JL Collins provides such sound advice, and it's a pleasure to learn from him because of his warm, relaxed demeanor. The interviewer did a remarkably well job--she is top-notch, fully focusing on Jim and steering the interview smoothly. Well done, and thank you for providing this!
Excellent talk. Answered all questions in the Q&A with detail. Anyone looking for simple sound advice should listen to this. Great job JL Collins. 👍
I never watched videos longer than 40 minutes in KZhead. I just completed this and I'm not even from US. Awesome video
I wish I could have heard this 20 years ago.
The best time to plant a tree was 20 years ago. The second best time is now.
100%
@11:05 I had started actually writing a series of letters to my daughter about financial things I wanted her to know... Respect JL Collins!
Great man with a great message - and he looks like my Uncle. Thanks for all your work Jim.
Daniel Dugan My uncle is my dog so I can understand the resemblance
15 mins in an this man is already my mentor! Thanks a lot to everyone involved in organizing this!
Wow I love listening to this guy and I never heard of him prior to watching this video. He's so calm and father like. It's so rare to hear financial advice from a FI person who doesn't have any agenda to gain from it
Mr. Collins has a less anxious presence and seems appropriately confident. His success proves why. He exudes trustworthiness. We, the watchers, should be careful to not blindly follow his logic, yet by reason test his ideas. There is such good information here, I think, for an average everyday person, who I think is his audience. Heed his wisdom, folks.
I'm listening to his book on Audible right now. Great information and teachings that I never knew existed.
I think it's a good idea to watch this in full a couple of times every year!
You don't need to understand anything just do what he says. I bow down to this man.
Bought his book, one of the best pieces of knowledge I have received in my entire life.
Fantastic talk, many thanks for this! We need more JL Collins in this world, just spreading the good knowledge! Love also how calmed he talks, very good fellow human!
Jack Bogle is the Yoda of investing and JL Collins is Obi Wan Kenobi thusly implying Mr Money Moustache is Luke Skywalker.
I have been doing the same things as Collins for many years. He is the first person to back up my thoughts on investing. I feel a lot better about continuing my investing philosophy.
Finally somebody said as it is. Homeownership is not a financial decision. It is a lifestyle decision.
We love you Dear Collins for guiding us towards the path of peace and prosperity.
Words of wisdom from the godfather of Financial Independence. I wish I had this information when I was growing up!
Every young person needs this information.
I watched the entire video last night, and have found myself coming back for a second viewing. I LOVE the smooth silk voice, but more importantly, how he makes investing simple for anyone to understand.
Saved this video in my favorites. Must rewatch every so often
Pay every household $2K retro from March 1, and train people to work online at $2k per month! The virus is a fake to put us all on the street to die. I agree that the businesses should be open. To all the Door Dash grocery delivery drivers: Always be polite to the customer, and never ask the customer to loan you a cart, or help load the groceries, especially if they are ill senior citizens. We cannot help it, if you are 500 lbs , short of breath, elderly with bad knees, then do not deliver huge groceries orders! I am a most generous tipper, but twice I tipped zero to lazy and disrespectful dirt bags! I respect an over tip respectful and hard working drivers. If you are dishonest, you lose more in the end. Instacart stole from my debit card, so that was the deal breaker. I used PeaPod for decades, until they left the area, but they stopped carrying the items I loved. Walmart is working great, and are the less expensive of all the delivery services. I do not like substitutions, and they made one mistake by substituting items.
I avoided investing for years because I followed some simple advice I heard on npr after the crash of 08 and it was, "if you don't understand it, don't put your money in it". Needless to say I'm investing again thanks to this guy.
That was excellent advice if it referred to individual stocks... Everyone should be in the market but very few should pick individual stocks. This is being seen in a big way now, all the YOLO people on YT who thought the market just went up since the Covid crash are getting crushed now and rightfully so... They don't understand the market and individual stocks or how to value a company. Yet they think they're all 'investors', they're not at all. And a good market crash is exactly what's needed to shake out the dead weight.... For people who don't like doing the exceptional levels of due diligence needed, they should be in indexes only (this is nearly everyone) and those who are fine with qualitative and quantitative research with strong understandings of valuation then picking stocks is perfectly fine and should be done in conjunction with indexing.
Very inviting and not overly complex in the way he explains his views and advice.
Wise, genuine and intelligent with a shooting fatherly voice. I can trust his intentions and I can trust his judgement.
It’s by far The Best Informative video I’ve ever watched ! Thank you Mr Collins for sharing your knowledge in Stocks ! I liked that your answers were direct to the point ! You are Awesome !
Thank you! I thoroughly enjoyed this gift of knowledge and wisdom!
There is a lot of talk about JC speaking the gospel and guiding lost souls to the promise land. Jim Collins is the real deal. Listen, meditate on his concepts, and lead a better life.
I like his voice. He should narrate his book
He did. Great book
Thank you, Jim! You have given us the best advice. Been following your blog for years. Have taken your advice and it works! Thank you!
Owning a house is more expensive, but its my choice of lifestyle. I absolutely love it.
The questions are alarmingly ignorant. Kudos to Collins for not laughing.
This is a great talk to come back and revisit throughout your financial journey. There's always something new to get out of it. Also, shoutout to the moderator. She had good energy and questions.
I found the book to be very insightful. Thank you for the wonderful advice!
Thank you Google for uploading these talks. So much value.
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What an awesome conversation. Very entertaining, very informative and real. No bs. Thanks!!!!🌟🌟🌟🌟🌟🌟🌟🌟🌟
Great interview, Thanks JL Collins. Appreciate your insightful and unbiased comments.
This was magnificent. I can hardly wait to go to his blog and get his book!!!
With respect to owning a home or condo he is speaking from a non-cyclical market point of view. For people in Coastal California markets, infill Texas locations over this last cycle, Denver, Portland, and other growing tech economies, Florida and the Southeast today; the wealth created with average leverage has been and can be huge.
AUTHENTIC and to the point! Great examples out of his own life which should be taught at school!! Who changed his/her purchasing habits because of this talk??
Very good interview. I like content and the format. Nice people.
I will listen to any advice that comes out of that voice .. 😍😍
Dollar cost averaging is great for sanity and psychology- the new investor learnes to "let go" of the cash they dont really need in the short term over time. Its also the only option available to people who dont have large ampunt of cash sitting around - almost everyone
If you have money pulled out of every paycheck to go in the market, that is NOT dollar cost averaging. You are putting money to work in the market as soon as you have it. Dollar cost averaging would be if you got a lump sum cash ($1,000,000) and did not put it in the market all at once, but divided it up into small sums to buy into the market over time.
typhoon320i I don’t see a difference. If I have $120 today and I dollar cost average over a year, that’s investing $10 each month over 12 months. If I took $10 out of my paycheck each month and invest it, the outcome is the same.
@@jklok Correct, typhoon320i doesn't know what they're saying.
Absolutely Loved This Interview‼️ Made it so simple for the novice in investing, such as myself, to get onto the Correct Path To Financial Freedom‼️Much Appreciated😁
Reading the book now and came across this... never knew the guy before. So worth it, starting investing ASAP.
When ASMR meets Finance.