The Best Advice from JL Collins

Financial Independence Podcast

The Mad Fientist

Taxavoidance, Business, Geographicarbitrage, Investing, Tax, Earlyretirement, Travelhacking, Entrepreneurship, Travel, Personalfinance, Stocks, Minimalism, Realestate, Frugality, Retirement, Financialindependence

4.8 • 1.7K Ratings

🗓️ 5 December 2023

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

To celebrate the release of JL Collins' new book, Pathfinders, I collected all the best advice from his Financial Independence Podcast interviews!

Jim has been on the show three times:

First, back in 2012 (he was my second guest ever!)
Second, when his hit book, The Simple Path to Wealth, was released
Third, during the depths of the Coronavirus crash

That last interview may be my proudest moment as the Mad Fientist (I explain why during the show).

Hope you enjoy this jam-packed episode!

Highlights

The power of FU Money and why it may be less money than you think
Jim’s biggest investing mistake and what he learned from it
Why index investing is superior to active investing
Are REITs and international funds necessary
Why your house may not be a good investment
Thoughts on stock picking and actively-managed funds
What makes Vanguard unique and why it’s best for investors
The three keys to becoming wealthy
Lessons learned from Black Monday
How to prepare for the next market crash

Transcript

Click on a timestamp to play from that location

0:00.0	I'm blind to do with her finance.
0:05.0	Hey what's up everybody.
0:07.0	Welcome to the Financial Independence Podcast, the podcast that gets inside the brains of some of the best and brightest in personal finance to find out how they achieved financial independence.
0:15.2	I have a very special episode for you today. I've gone back through three of my previous interviews with one of my most popular guests, J.L. Collins, and I've extracted all the best bits from those episodes.
0:28.0	And you may remember I did this with Mr. Money Mustache a while back, it was a really popular short like 10 or 15 minute
0:35.6	episode. So to celebrate G.L. Collins' new book called Pathfinders, which I just recently
0:42.0	read and really enjoyed, I figured I would do the same
0:45.2	for him. So it was a lot of fun going back through these three episodes because, one, he was my second
0:52.0	guest ever, so the first episode I went back to listen was in
0:55.7	2012 and the only other person I had interviewed up till that date was Mr Money Mustache
1:01.8	so it was fun to listen to such an early episode.
1:05.4	The second one was right before the Simple Path to Wealth came out, which neither of us at the time
1:10.2	could have imagined how successful that book would become so it was fun to
1:14.6	listen to that knowing what I know now about how popular that book has become and
1:18.8	how it's sort of become a classic in the personal finance space already.
1:23.1	And the third interview we did is maybe one of my most proud
1:27.2	accomplishments, as the Met Finestist, I would say,
1:30.5	which I will talk more about when I get to introducing those clips but looking
1:35.9	back on an interview now I think it maybe is the most important thing I've ever
1:39.7	put out and maybe one of the things I'm most proud about mainly due to the timing of it, but also the
1:45.9	information and the message that came out at exactly the right time.
1:50.1	So it was a treat to go back through all these episodes.
	...

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