Episode 59 - Achieving FI Through Savings, Real Estate, and Index Funds with the Legendary JL Collins
Nov 10th, 2021
Joining Craig and Zeona on the show is JL Collins, one of the founding fathers of the FI movement and the author of “The Simple Path to Wealth”. He is set to release a new book titled “How I Lost Money in Real Estate Before it was Fashionable”.
In this episode, JL explains the concept of “F-You money” and the virtuous circle that occurs when people go down the path to FI. He then talks about his books, what it was like to teach his daughter what he knows about finances, and how he achieved FI as an active investor who later went passive.
- JL started a blog in 2011 to archive financial information for his daughter and then discovered the FI community
- He saved 50% of his income throughout his career and invested a percentage of it
- He dabbled in real estate in the early ‘80s and quickly realized that it wasn’t for him
- FI is proportionate to your expenses and the lifestyle you have built for yourself
- Buy from a position of strength
- On index funds versus actively managed funds
- Some things to consider when it comes to REITs, syndication, maintenance, and tax-loss harvesting
- JL Collins
- JL Collins on Twitter
- JL Collins on Facebook
- Financial Independence... 23 Years Later by JL Collins