We were honored to host JL Collins, the godfather of the FIRE movement, on the Modern Husbands Podcast. The episode is embedded at the bottom of the post.
JL Collins is widely known for his best-selling book, The "Simple Path to Wealth," which has sold over 500,000 copies.
Collins is a goldmine of financial wisdom, especially for couples. Collins simplifies investing and wealth-building, offering clear, actionable advice that resonates with couples. The book emphasizes simplicity and long-term thinking to achieve financial independence.
Collins recommends Vanguard's VTSAX (Vanguard Total Stock Market Index Fund) as the cornerstone of a solid investment strategy. Investing in the entire market instead of picking individual stocks reduces risk and maximizes returns over time. This strategy offers married couples a straightforward yet powerful way to grow wealth steadily while minimizing unnecessary risks associated with market speculation.
One of the book's standout aspects is its holistic approach to wealth-building, emphasizing investment strategies and the importance of living below one's means and embracing a frugal lifestyle.
Collins' emphasis on simplicity in financial decision-making is useful for couples dealing with the complexities of managing joint finances, offering a clear path forward amid the noise and confusion.
His second book, "Pathfinders," tells the stories of people who've followed The Path to Financial Independence laid out in the book and succeeded. Pathfinders is split into nine sections: Freedom, Debt, Saving, Lifestyle Inflation, Investing, FU Money, Staying the Course, Family, and Endgame.
Each section starts with JL's take on the topic, followed by stories from readers who followed The Path, and describes how it turned out. Each vignette is a success story, and the characters are real people facing common challenges.
The Modern Husbands Podcast
Episode with JL Collins
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"2023 Plutus Award Finalist: Best Personal Finance Content for Couples or Families"