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ChooseFI

411 | The Simple Path to Wealth | JL Collins

ChooseFI

Brad Barrett | Choose FI Media

Financialindependence, Investing, Firemovement, Passiveincome, Frugalliving, Personalfinancepodcast, Daveramsey, Careers, Business, Earlyretirement, Habits

4.8 • 5K Ratings

🗓️ 28 November 2022

⏱️ 73 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode: VTSAX funds, bonds, cap-weighted funds, finding your ballasts, staying the course, and the simple path to wealth.

This week, we are getting back to the basics! While many of you who have been in the FI community for a while now have definitely heard of JL Collins, those who are new should absolutely be prepared to absorb the wealth of information he provides every time he decides to grace our podcast! Listen along as he and Brad review the basic information that can put you on the simple path to wealth that so many in the FI community have walked! Believe it or not, creating wealth for yourself can be simple!

JL Collins:

Timestamps:

  • 1:46 - Introduction
  • 2:40 - Back To Basics, What Is The Simple Path To Wealth
  • 10:15 - Low-Cost Funds And High-Cost Funds
  • 14:56 - Index Funds Are For Lazy People (Just Kidding!)
  • 20:00 - Is It VTSAX Or Nothing?
  • 26:58 - Cap-Weighted Funds
  • 30:53 - Staying The Course
  • 36:32 - Are There Times When Index Funds Aren't A Good Choice?
  • 42:28 - The Highest Likelihood Of Replicable Success
  • 46:38 - Bonds
  • 51:36 - Rising Rates
  • 55:17 - I-Bonds
  • 58:22 - Finding Your Ballasts
  • 64:55 - Conclusion

Resources Mentioned In Today’s Episode:

More Helpful Links and Resources:

Transcript

Click on a timestamp to play from that location

0:00.0

Hey, it's Brad. Before we get into the episode, I wanted to pass along two quick things.

0:04.2

First, we're getting ready to record our sixth annual year-end wins episode, where we share all

0:09.4

the incredible action you have taken on your path to five this year. We'll record this in December,

0:14.7

so we need you to send in your wins for 2022 ASAP. So two different ways to do that. Go to choose

0:20.2

eva.com slash voicemail, and you can send in a voicemail that I'll play on the episode,

0:25.1

or you can go to choose eva.com slash subscribe, and you'll get on my five weekly newsletter that

0:31.2

comes out every Tuesday. Just hit reply to any of those emails that come directly to me,

0:36.1

and just give me a list of everything you've done. So that's the first big thing. The second is,

0:41.2

as you know, travel rewards are one of the pillars of five, and there are some incredible bonus

0:46.0

offers on two of our favorite business credit cards. These were just too good not to tell you about.

0:51.8

So I'm recording this on November 15th, 2022. So these are accurate as of today, and the chase

1:00.4

ink business cash and the chase ink business unlimited have the best bonus offers that I've

1:06.4

ever seen on these. They've literally the best bonus offers ever. So these are two no annual fee

1:11.5

cards, and they actually offer chase, ultimate rewards points, even though they're billed as cash

1:17.7

back credit cards. If you have one of the premium chase credit cards that have ultimate rewards

1:23.7

points that are transferable. So that's the Sapphire preferred, the Sapphire reserve,

1:28.7

and the ink business preferred. Then all of these ultimate rewards points that you get from these

1:34.0

two cards become the much more valuable transferable ultimate rewards points. So right now,

1:40.1

they're each offering 90,000 ultimate rewards points when you spend $6,000 in the first three months.

1:47.2

So chase bills that as $900 cash back, but I think you could turn those 90,000 ultimate rewards points

1:54.6

into at least $1,800 worth of free or nearly free travel. So these cards are really,

2:01.0

really interesting. If you have a small business or any type of side hustle, so go to choosef.com

...

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