Episode 346: Index Funds, How To Build Wealth & Financial Independence Wisdom With "The Godfather of FI," JL Collins
Journey To Launch
Jamila Souffrant
4.9 ā¢ 1.7K Ratings
šļø 1 November 2023
ā±ļø 51 minutes
šļø Recording | iTunes | RSS
š§¾ļø Download transcript
Summary
JL Collins is known as "The Godfather of FI," and for a good reason: He continues to be a pioneer in the FIRE (Financial Independence Retire Early) Movement and a thought-leader in the Financial Independence (FI) space.Ā
Today, he joins us to discuss the origin story of his groundbreaking blog, the concept behind his new book, Pathfinders, shiny investing object syndrome, and more.
In this episode you'll also learn more about:
- Defining what "the simple path to wealth" meansĀ
- Breaking down what index funds are, the difference between active and passive investing, and what "self cleansing" means
- How chasing performance is the best way to underperform in investingĀ
- The 4% rule, the importance of understanding the cost of your comfortable lifestyle, purchasing things from a position of strength, and more
Transcript
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| 0:00.0 | I expect my money, and I ask my money only to do one thing for me, and that's make money. |
| 0:08.0 | I don't expect it to entertain me, I don't expect it to provide excitement with my life. |
| 0:13.0 | In fact, I don't want that. |
| 0:15.0 | I have other ways to provide excitement and entertainment in my life. |
| 0:19.0 | And I think when you do that, well, then you may as well go to Vegas. |
| 0:23.0 | I mean, that's the whole point of gambling. |
| 0:26.0 | It's exciting while you lose your money. |
| 0:29.0 | Yeah, I don't expect my money to entertain me. |
| 0:32.0 | And I don't recommend anybody do. |
| 0:34.0 | Team Minus 10 seconds. |
| 0:36.0 | Welcome to the Journey to Launch Podcast. |
| 0:38.0 | With your host, Jamila Sufrat, as a money expert who rocks her top. |
| 0:43.0 | She helps braid juniors like you. |
| 0:45.0 | Get out of debt, save, invest, and build real well. |
| 0:50.0 | Join her on the Journey to Launch to Financial Freedom in 5-on-4. |
| 0:55.0 | Three, two, one. |
| 1:06.0 | If you want the episode show notes for this episode, go to journeytolange.com |
| 1:11.0 | or click the description of wherever you're listening to this episode. |
| 1:14.0 | In the show notes, you'll get the transcribed version of the conversation, |
| 1:19.0 | the links that we mentioned, and so much more. |
| 1:22.0 | Also, whether you are an OG, or brand new to the podcast, |
| 1:26.0 | I've created a free jumpstart guide to help you on your financial freedom journey. |
... |
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