The Simple Path to Wealth
Your Road Map to Financial Independence and a Rich, Free Life
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The Simple Path to Wealth
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Narrated by:
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JL Collins
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Peter Adeney
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Written by:
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JL Collins
About this listen
This book grew out of a series of letters to my daughter concerning various things - mostly about money and investing - she was not yet quite ready to hear.
Since money is the single most powerful tool we have for navigating this complex world we've created, understanding it is critical.
"But Dad," she once said, "I know money is important. I just don't want to spend my life thinking about it." This was eye-opening. I love this stuff. But most people have better things to do with their precious time. Bridges to build, diseases to cure, treaties to negotiate, mountains to climb, technologies to create, children to teach, businesses to run.
Unfortunately, benign neglect of things financial leaves you open to the charlatans of the financial world. The people who make investing endlessly complex, because if it can be made complex it becomes more profitable for them, more expensive for us, and we are forced into their waiting arms.
Here's an important truth: Complex investments exist only to profit those who create and sell them. Not only are they more costly to the investor, they are less effective.
The simple approach I created for her and present now to you is not only easy to understand and implement, it is more powerful than any other.
Together we'll explore:
- Debt: why you must avoid it and what to do if you have it
- The importance of having f-you money
- How to think about money, and the unique way understanding this is key to building your wealth
- Where traditional investing advice goes wrong and what actually works
- What the stock market really is and how it really works
- Why the stock market always goes up and why most people still lose money investing in it
- How to invest in a raging bull or bear market
- Specific investments to implement these strategies
- The Wealth Building and Wealth Preservation phases of your investing life and why they are not always tied to your age
- How your asset allocation is tied to those phases and how to choose it
- How to simplify the sometimes confusing world of 401(k), 403(b), TSP, IRA, and Roth accounts
- TRFs (target retirement funds), HSAs (health savings accounts), and RMDs (required minimum distributions)
- What investment firm to use and why the one I recommend is so far superior to the competition
- Why you should be very cautious when engaging an investment advisor and whether you need to at all
- Why and how you can be conned, and how to avoid becoming prey
- The truth behind Social Security
- A case study on how this all can be implemented in real life
PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your Library section along with the audio.
©2016 JL Collins (P)2017 Audible, Inc.Critic Reviews
What listeners say about The Simple Path to Wealth
Average Customer RatingsReviews - Please select the tabs below to change the source of reviews.
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- nandagopal
- 09-04-24
Great explanations and narrations
Very useful for investing, it will be a wonderful book for our wealth creation and wealth preservation using INDEX FUNDS
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Overall5 out of 5 stars
- Ashok
- 26-06-21
A must listen if you are an American
One of the best audible book i would say. Though the narrative is more centered for American readers, the principles outlined here can be applied for anyone thinking about retirement planning
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- ksrinadh
- 27-03-22
nice
book is nice. and main subject is to save the smal chunks. money can buy anything. but nothing can fulfill more than financial freedom
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- Sonee
- 13-02-22
A masterpiece
Brilliantly done. A must read for those who respect money and are seeking for financial independence. the author has narrated all his vast experience on context which he experienced through many years of implementation. A true masterpiece.
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Overall1 out of 5 stars
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Performance1 out of 5 stars
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Story1 out of 5 stars
- Kunal Jindal
- 29-11-24
Very US centric
The concepts can be applied in any country but the content is very US focused. Also, this book is for absolute beginners. I would skip it if I live in India. I would rather listen to Monika Halan, very practical advice for Indians, very relatable.
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Overall3 out of 5 stars
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Performance5 out of 5 stars
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Story3 out of 5 stars
- Amazon Customer
- 09-06-23
Really good book for Americans
If you’re an American then this is definitely a good read. Others, don’t even bother reading this if you’re not ready to extrapolate based on what he says. He doesn’t even bother to give a brief idea of what a term is. It might be very basic to Americans, but for international readers, it might be a completely new term that they’ve never heard of. Unless you’re an international reader who is ready to google the meaning of a lot of US specific financial jargon, don’t even consider getting this book.
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Overall3 out of 5 stars
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Performance3 out of 5 stars
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Story3 out of 5 stars
- Debasish Bhowmik
- 27-06-21
Basics of personal finance for USA only
one, talks only about basics. a good point to start understanding what all things you need to consider. unless you fall into this category and have basic ideas like 401k, income tax. you will be quite likely disappointed.
two, the author recommends only one vanguard index fund. which is ok unless you want to understand what all options available and if you are willing to take a bit more risk in hope to get better returns.
lastly, most of the content in the book applies to US only. Unless you are a US tax resident, you may not get any action able ideas.
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1 person found this helpful