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BiggerPockets Money Podcast

486: JL Collins: You Don’t Need to Be Rich to Reach Financial Independence

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.62.9K Ratings

🗓️ 2 January 2024

⏱️ 49 minutes

🧾️ Download transcript

Summary

JL Collins is one of the most respected authors in the financial independence community. His book, The Simple Path to Wealth, became the FIRE movement bible, giving clear, concise, easy-to-follow, and often unbelievably simple advice on achieving financial independence and retiring early. One of the most striking lessons from the book? You DON’T need to be rich to retire early or build wealth. Whether you make $40K or $400K per year, you can start building your financial freedom TODAY. Since its publication, The Simple Path to Wealth has inspired millions of people to find financial freedom, and many who have achieved financial independence or are well on their way have been in contact with JL. In his new book “Pathfinders: Extraordinary Stories of People Like You on the Quest for Financial Independence?And How to Join Them,” JL shares stories of the rich, poor, and even bankrupt readers who were able to turn their lives around and find financial freedom, no matter their circumstance. So, if you’ve been telling yourself that you CAN’T retire early because of a low paycheck, dire financial situation, or expensive lifestyle, think again. In this episode, JL will show you EXACTLY why YOU can be rich IF you follow some simple steps on the path to financial independence! In This Episode We Cover The simple, repeatable path to wealth that ANYONE can follow to become rich How to achieve your huge retirement goals even when starting from zero Why financial independence is NOT just for the rich and already wealthy The lifestyle “trap” that will stop you from ever achieving FIRE The problem with the 4% rule and why you CANNOT trust it for a happy retirement How to build wealth when everything (and we mean EVERYTHING) goes wrong And So Much More! Links from the Show BiggerPockets Money Facebook Group Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Money Moment Hear Our Past Episodes with JL Episode 20 Episode 116 Episode 285 Learn More from JL How Has The 4% Rule Held Up Since The Tech Bubble And The 2008 Financial Crisis? Click here to check the full show notes: https://www.biggerpockets.com/blog/money-486 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Happy New Year, my dear listeners, and welcome to the BiggerPockets Money Podcast. Today, we are talking to the Godfather of Financial Independence and international best-selling author, J.L. Collins.

0:12.0

That's right. We're going to be talking about his new book

0:13.8

Pathfinders, which is a sequel or really companion novel to a novel

0:20.0

novel, a companion book to the simple path to wealth.

0:23.0

You're going to be hearing about the framework JL recommends to reach FI

0:26.0

after he's collected hundreds of stories to compile in this book.

0:30.0

And why are we doing this right now?

0:31.0

Well, with the start of the new year,

0:32.0

we wanted to bring one of our favorite all-time guests and serial author now to discuss the Pathify and his new book, share all of these different journeys, and hope that that inspires you with your New Year's goals and

0:43.9

resolutions around reaching Phi.

0:45.3

Hello hello hello my name is Mindy Jensen and with me as always is my finding his own path co-host

0:51.6

Scott Chunch. Always a pleasure to navigate the journey to financial independence with you, Mindy.

0:56.0

Scott, without further ado, let's bring in J.L.

0:59.3

J.L.

1:00.3

Welcome to the BiggerPockets Money Podcast.

1:02.0

I am so excited to talk to you today.

1:04.0

Thank you, Mindy. I'm excited to be here. I appreciate the invitation.

1:07.7

JL, we first spoke to you way, way, way back on episode 20 and then again on episode 116 and 285 but for our new

1:16.4

listeners or just a reminder for our audience how did you initially get involved in

1:22.2

financial independence?

1:23.4

Oh, great question.

1:25.1

I started writing my blog, J.L Collins and H.com in 2011 and I really had no intention of starting a blog.

...

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