The Simple Path To Wealth w/ JL Collins | Straightforward Approach (MI041)

Robert Leonard chats with JL Collins about index fund investing, personal finance principles, and the road to financial independence. JL is an accomplished consultant, speaker, and bestselling author of “The Simple Path to Wealth”.

IN THIS EPISODE, YOU'LL LEARN:
0:00:00 - Intro
0:06:39 - What to do if you have debt
0:09:07 - Should you pay off your debt before investing
0:31:02 - How people can invest in both a bull market and a bear market
0:40:57 - What are the factors to consider when choosing a brokerage firm
0:50:26 - Why you might want to keep your investing simple and invest in index funds
1:01:36 - What is the biggest mistake new investors make
- And much, much more!

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[kapilprasannaa]

Great interviewer. So much humility and understanding when they disagreed - a breath of fresh air!

[James-oddm]

12:00 F U MOney
16:00 why most people loose money in the stock market
25:00 The stock market always goes up
37:00 Dollar Cost Averaging
41:00 Chosing the right broker
46:00 Why VTSAX
48:00 What are ETF's?

[rishik]

JL Collins is simply great! And Full marks to the interviewer.. extremely well conducted, very good questions and the flow of thoughts. This was super useful! Going to buy JL’s book now :)

[alexalexul]

I find the discussion about stock picking compared to index fund investing really interesting and helpful. You were right Robert, I really enjoyed this episode and I look forward to new ones.

[sufferplenty]

I wish he had an audiobook of it that he himself reads to us, his voice is so empowering to listen to. Knowing that this info is that of what he wanted to share with his daughter just shows how REAL his knowledge is. Someone willing to share the secrets and not keep them to himself. What a guy!

[jlentz]

Thank you so much for this interview. This is one of the best I've heard of him. You asked all of the questions that I've wanted to hear forever!!!

[isferfun]

I wish there's an English and other languages subtitle so more people can learn something about this. Thanks for the video. Love it.

[giuseppeo]

You did a great Interview Robert! Thank you! And thanks to JL Collins as well, he is a great person!

[santomenon]

Good One !!! Has a baritone voice and makes purposeful statement in a simplified manner.

[Cloninginvesting]

Amazing ❤ and I feel lucky to come to know about Collin few years ago and I switched to VTSAX 90% back and I see the strength he is talking and also bought his book back then

[mannycarrasquillo]

FU Money. I watch that clip of John Goodman in The Gambler from time to time. Best advice ever.

[aeksinsang]

Jim rules. It’s John Goodman with brains

[mannycarrasquillo]

Mr Collins is a breath of fresh air in a world of Jim Kramers. Nothing against Mr Just saying. Lol

[macfin]

Paying your 6% debt is also essentially tax free. You make a capital gain of 6% you're paying tax on it, so you've effectively got to be getting 8% ish just to equal it

[chrisgrace]

How does this all in ETF approach change when investing from Canada? Can't currency conversion hit us Canadians?

[siddhant_mutha]

J L Colins Conclusion - The market is almost inch perfect efficient and stock picking is a loser's game so diversify your holdings in the index funds.

The normal distribution says there is always a sliver minority on the right-hand side of the tail that outperforms everybody, most people in the middle of the distribution, and a few worse on the left-hand tail.

I think it's a universal phenomenon that most amazing outcomes would be very few only at the end of the day.

[exto]

Debt is king… it’s how many advance ideas, iterate from failures to success, iterate from successes to successes. Investing is debt.

[zenneosen]

That comment by JL "Investment world is designed to make Investment complex so that they could line up their pockets and make you believe Investment is too difficult for a normal people" is such an important one". I wish someone has told me at the start of my career.

[landlubber]

Very sound advice, but Mike Green and other critics of passive indexation make me worry