The Simple Path to Wealth
Your Road Map to Financial Independence and a Rich, Free Life
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The Simple Path to Wealth
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Narrated by:
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JL Collins
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Peter Adeney
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By:
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JL Collins
About this listen
This book grew out of a series of letters to my daughter concerning various things - mostly about money and investing - she was not yet quite ready to hear.
Since money is the single most powerful tool we have for navigating this complex world we've created, understanding it is critical.
"But Dad," she once said, "I know money is important. I just don't want to spend my life thinking about it." This was eye-opening. I love this stuff. But most people have better things to do with their precious time. Bridges to build, diseases to cure, treaties to negotiate, mountains to climb, technologies to create, children to teach, businesses to run.
Unfortunately, benign neglect of things financial leaves you open to the charlatans of the financial world. The people who make investing endlessly complex, because if it can be made complex it becomes more profitable for them, more expensive for us, and we are forced into their waiting arms.
Here's an important truth: Complex investments exist only to profit those who create and sell them. Not only are they more costly to the investor, they are less effective.
The simple approach I created for her and present now to you is not only easy to understand and implement, it is more powerful than any other.
Together we'll explore:
- Debt: why you must avoid it and what to do if you have it
- The importance of having f-you money
- How to think about money, and the unique way understanding this is key to building your wealth
- Where traditional investing advice goes wrong and what actually works
- What the stock market really is and how it really works
- Why the stock market always goes up and why most people still lose money investing in it
- How to invest in a raging bull or bear market
- Specific investments to implement these strategies
- The Wealth Building and Wealth Preservation phases of your investing life and why they are not always tied to your age
- How your asset allocation is tied to those phases and how to choose it
- How to simplify the sometimes confusing world of 401(k), 403(b), TSP, IRA, and Roth accounts
- TRFs (target retirement funds), HSAs (health savings accounts), and RMDs (required minimum distributions)
- What investment firm to use and why the one I recommend is so far superior to the competition
- Why you should be very cautious when engaging an investment advisor and whether you need to at all
- Why and how you can be conned, and how to avoid becoming prey
- The truth behind Social Security
- A case study on how this all can be implemented in real life
PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your Library section along with the audio.
©2016 JL Collins (P)2017 Audible, Inc.Listeners also enjoyed...
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What listeners say about The Simple Path to Wealth
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Overall5 out of 5 stars
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- Anonymous User
- 25-01-20
Great Book, Great Delivery
I enjoyed the voice of JL Colins. No matter where you are on the wealth journey, you will find this book highly insightful. We have reached financial independence but we learnt a great amount of details on how to optimise our wealth.
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Overall5 out of 5 stars
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- Anonymous User
- 16-03-21
Very good
I would consider this a must read book for everyone! especially if your young and new to investing and your looking into the future and need a road map!
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Overall5 out of 5 stars
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- Denis
- 02-11-21
This is all you need
The most simple, and best, book I’ve read on personal finance. It successfully provides all the information necessary and validates all the conclusions for a straightforward approach to investing. More importantly perhaps is the author’s warm, reassuring delivery which makes you feel everything really will be fine if you stick to the program. Only slight criticism is much of the information is US centric, but this is to be expected, and the basic principles can be applied anywhere. I’ll be recommending to everyone I know starting out on their investing path.
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Overall4 out of 5 stars
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- 5 star books
- 28-01-21
Roadmap to wealth
Some great advice ihere The Author is older so his advice is tried and tested.
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- D
- 01-10-22
Should be recommended reading in high school
I listened to the book after I was well on the financial independence path, but it nevertheless offered me a lot of good insights and perspective which is why I highly recommend it.
The author’s voice is deep and with authority, but very pleasant to listen to, like a father that wants what’s best for you :)
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Overall5 out of 5 stars
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- A R
- 28-04-23
Phenomenal
I wish I had this info at hand 20 years ago. I hope I'm not too late investing in mutual index funds.
Every college student or someone starting their working life should read this, if they want to build wealth without having to know which stocks to pick.
Invest and forget, enjoy the rocky ride to wealth building.
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- Dr A Bonsall
- 14-01-24
Solid and clear guidance.
I know nothing about investing, but this book helped to demystify it and to make me realise that investing is a really important tool that all adults need to be in control of their financial future. Thanks Me Collins.
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- MR A J B H GORDON
- 15-05-19
New to the investment scene...this is a brilliant!
I am very new to the investment scene and this book is brilliant and reassuring. Investing can seem scary at first but Mr Collins makes it a very simple concept to understand and provides real-world examples to make it even easier to get your head around.
I would highly recommend new investors and even current investors who feel that they may be over complicating it.
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1 person found this helpful
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- Matt Piercy
- 04-06-19
My Eureka moment!
I’ve listened to so much advice about how to invest for an income stream - most of it time consuming, complicated and guaranteed to make others money before me.
This book changed it for me - I’ve followed it to the letter. It works. Thank you.
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- MR J.
- 06-06-22
Great book so simple it's easy!
What a great book and well read.
The book is very USA centric but the underlying message can be used anywhere!
The story behind why the book came about helps make the book easy to understand and has inspired me to ensure I spread the message with my family also.
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