The Simple Path to Wealth, with Jim Collins

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.7 • 3.6K Ratings

🗓️ 27 June 2016

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

#31: Jim Collins, also known as popular blogger JL Collins, has been financially independent since 1989. He achieved this in the simplest way possible: he saved half of his income and invested in index funds. Jim says the simplest possible approach is the best, if your goal is to build financial freedom. "The great irony of investing is the simpler of an approach you use, the more powerful of results you get." In this episode, he shares his ultra-simple approach to investing. He says that when you prioritize simplicity, above all else, you can ignore your investments and move on with your life: "Most people don't want to think about this stuff all the time. Most people want to get on with curing diseases and building bridges and writing peace treaties. But the smart ones know they have to have some kind of handle on their money." Check out Jim's ultra-simple path to wealth in this week's episode. http://podcast.affordanything.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Alright, so I'm just testing the sound. Do we say something?
0:02.9	Say something.
0:17.7	Welcome to the Afford Anything Podcast.
0:20.1	This is the podcast formerly known as the Money Show,
0:23.3	but it's not just about money, it's about living a more fulfilled life.
0:27.7	You can afford anything, but not everything.
0:30.9	So what's important to you? What really matters?
0:34.7	I've gotten feedback that I should just get to the interview as fast as I can.
0:38.8	So if you'd like to hear more about what this show has in store,
0:42.0	stay tuned to the end of the episode when I give a backstage state of the show report.
0:47.3	Today's episode is about the unbelievable power of simplicity,
0:51.6	especially around your investments.
0:54.1	Today's guest is Jim Collins. You may know him as the blogger J. L. Collins.
0:59.0	He's been financially independent since 1989.
1:03.2	I hate to say it, but that's almost as long as I've been alive.
1:07.1	And Jim reached financial independence in the simplest way possible.
1:12.8	First, he avoided debt and saved half of his income.
1:16.9	Some people see this as deprivation.
1:19.3	I suggest that instead of deprivation when you're saving an investing money,
1:24.1	you think of it as just a different way to spend.
1:26.4	But instead of spending it on a new car or a fancy or a house or a new wardrobe,
1:31.5	you're choosing to spend it on your freedom.
	...

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