It is not often that people become financially independent a mere 15 years after starting their career.
Although he didn’t know it right away, Jim Collins did just that. In 1989, he became financially independent, only a decade and a half into his profession.
Jim Collins is now the author of A Simple Path to Wealth and also has his own financial blog, jlcollinsnh. He began his blog as a way to share different financial strategies with his daughter, family, and friends, that may help them become financially independent as well.
Through the past six years that Jim has had his blog, he has met hundreds of like-minded people. He has also expanded his blog to an annual trip to Ecuador, which he likes to call a Chautauqua — a place where people come together to share ideas, concepts, and companionship.
In today’s podcast, I will be talking to him about how he did it, his blog, and his new book, A Simple Path to Wealth. I also ask him for some tips on how we can all achieve financial independence.
Topics Covered in the Interview:
- Why Jim Collins began blogging
- Meaning of Chautauqua
- The Pop-Up Business School
- This year’s Chautauqua in the UK
- The meaning of financial independence, according to Jim Collins
- The difference between “FU money” and financial independence
- The 4% rule
- How much money do you need to retire?
- Saving at a high rate — investing in your freedom vs. buying something new or extra
- Was there ever a time when Jim Collins felt like he was missing out?
- Bond market funds vs. simplified portfolios — which is the better choice?
- Buying individual stocks
Resources Mentioned in the Interview:
- jlcollinsnh
- The Chautauqua institution
- PopUp Business School
- Vanguard Total Stock Market Index Fund Admiral Shares
- Mr. Money Mustache
- Afford Anything
- Mad Fiendtist
- Millennial Revolution
- A Simple Plan to Wealth
Here’s the podcast audio, followed by a transcript of the interview:
Topics: PodcastThe post JL Collins’ Tips for Achieving Financial Independence appeared first on The Dough Roller.
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