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The Simple Path to Wealth: Your road map to financial independence and a rich, free life

4.48  ·  Rating details ·  7,047 ratings  ·  659 reviews
“In the dark, bewildering, trap-infested jungle of misinformation and opaque riddles that is the world of investment, JL Collins is the fatherly wizard on the side of the path, offering a simple map, warm words of encouragement and the tools to forge your way through with confidence. You'll never find a wiser advisor with a bigger heart.” -- Malachi Rempen: Filmmaker, cart ...more
Kindle Edition, 288 pages
Published June 17th 2016 by jlcollinsnh.com
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Average rating 4.48  · 
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 ·  7,047 ratings  ·  659 reviews


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Enrique Mañas
Jan 27, 2017 rated it liked it
The Simple Path to Wealth contains a first section I will convene in denominating behavioral and another part with technical investment information.

BEHAVIORAL
- Avoid debt at all costs.
- Avoid fiscally irresponsible people and do not marry them.
- Spend the next decade working your ass off.
- Take low living expenses.
- Do not certainly spend more than you earn (do not get trapped by an expansive lifestyle).
- Save and invest over 50% of your income.
- Avoid financial advisors.

TECHNICAL
- Avoid multipl
...more
Matt
Sep 29, 2017 rated it really liked it
The kind of person who reads this book is the kind of person who already knows about the concept of financial independence, index funds and the "4% rule." The kind of person who reads this book is asking themselves if they will be able to retire a millionaire in their 30s or if they will have to wait until their 40s.

If you ARE that kind of person, this book is worth reading. It is an easy read. It is easy to reference. It is immediately applicable. And it will probably tie together a lot of your
...more
Nathik
May 31, 2018 rated it really liked it
Solid book on investment and portfolio building. I really wish I had read this book a few years earlier and highly recommended to everyone.

Things to avoid
1. Avoid debt.
2. Avoid fiscally irresponsible people. Never marry one or otherwise give him or her access to your money.
3. Eliminate all non-essential spending
4. Avoid investment advisors.
5. Never buy stocks on margin.
6. Safety is a bit of an illusion. Don't fall for it.
7. Spending too much time worrying about how things might work out. It’s a
...more
Tramaine Gillus
May 26, 2018 rated it it was amazing  ·  review of another edition
Shelves: favorites
Now that I’m done reading The Simple Path to Wealth by JL Collins, I feel confident in recommending it to any and everyone. If something were to happen to me and I needed to leave one financial tool to my kids, it would be this book. This book helped to reaffirm and clarify my personal financial values.

If you’re looking for a way to make a quick buck, this isn’t the book for you. But if you are interested in a book that explicitly lays out sound principles and advice and encourages financial dis
...more
WJ
May 05, 2020 rated it liked it
I used to have to listen to Remy and Tim and Mitch and Jeremy bang on about investing while I was trying to actually create something beautiful while painting at the dining table instead of the absolutely pointless, complex, exclusive, cold, unsexy, fairytale money. Now I have read a book about it.

This book made a small part of me excited how compound interest grows over a long time. The subject made a bigger part of me depressed that money fucks a lot of people over and this books really expose
...more
Anri
Jan 06, 2017 rated it it was amazing
Shelves: non-fiction, money
This book is squarely about the slow-and-steady side of financial independence. It's not really about gaming the system or getting out of debt or complicated investment strategies and such.

I love J.L. Collins' site (jlcollinsnh.com). I like his book too. It's pretty much the same kind of content, only more edited - less snarky, a bit less controversial. I'm surprised "Why your house is a terrible investment" wasn't discussed, actually. I did appreciate his perspectives on the wealth-conservation
...more
Marco G
Apr 14, 2019 rated it liked it
Kind of useless book if you're not freshly out of college. I'll save you some money and spoil this. Save half your money, avoid all debt, and invest in vanguard index funds.what irritated me about this book is there is no plan if you're older if you've never been able to save money because you couldn't afford it and you started investing late in life and don't have a lot of time to save for retirement. What do you do? Those answers aren't in this book but the core philosophies are sound. Avoid d ...more
Konrad
Feb 18, 2018 rated it liked it
Here's what I learned in each chapter:

Ch 10 - Keeping it simple: considerations and tools
* You only need these two tools: VTSAX, VBTLX

Ch 12 - Bonds
* When you buy bonds, you're loaning money to a company or government agency.
* Municipal bonds are issued by governments and government agencies at the state and local levels to fund public work projects like schools, airports, sewer systems, etc.
* Municipal bonds are exempt from federal-income taxes and usually from state income taxes for the state t
...more
Tim
Apr 07, 2018 rated it it was amazing
I absolutely loved this book. It was straight to the point and offered clear advice. It’s perfect for anyone trying to break through the seemingly complex topic of investing.
Brandi Johnson
We are paying our house off this month and, after doing so, will be completely debt free. This gives us quite a bit of financial freedom but also gives us pause: what do we do with our income now? Where do we put it so it will work for us and not the other way around?

Acquiring wealth appears to be one of the simplest things to do, but not necessarily the easiest.

This book lays it all out, in simple terms and manageable bite sized chunks. Investing doesn't have to be scary; Jim does a great job o
...more
Kevin Kuehn
Jul 05, 2016 rated it it was amazing
Financial literacy is so often taken for granted. Often, it is ignored and avoided as a topic of conversation, but Jim Collins outlines the basics for anybody interested in taking control of their own financial education. There are so many things that he explains that I wish I would have known ten years ago. While he is a little more prescriptive in what he advises people should do, and it definitely involves coming to grips with some hard truths, I so appreciate how candidly and simply he expla ...more
KDV
Aug 19, 2019 rated it really liked it  ·  review of another edition
Shelves: nonfiction
Very useful. Amassing "fuck you money" has never seemed so possible!
Kelsy
Jun 24, 2016 rated it it was amazing  ·  review of another edition
Shelves: finance
The Simple Path to Wealth is both a great book for beginners and a good reference for people who are already experienced with personal finance (although if you also read J.L. Collins' blog, a lot of the advice will be familiar to you already). He does an excellent job of compiling advice from the blog and putting it into an easy-to-understand (and fun-to-read) format. This is not a boring financial text - his personality and sense of humor show throughout, and it proved to be an entertaining boo ...more
Scott
Dec 17, 2018 rated it really liked it
I'm not one to read financial books, but I found this book to be incredibly helpful, if for nothing else, in explaining in laymen's terms concepts surrounding investing. Typically my eyes glaze over at titles like this, but this book really is something else. Collins developed this content from his blog which was originally for family and close friends. He's turned into something of a hero for a segment of people within the financial community (so I hear).

Regardless, it's vital for people to ha
...more
Nathan
Jan 25, 2018 rated it it was amazing
This is the most straight forward investment book I've found. It should be required reading for all college students.
Jenny Daer Shields
May 15, 2020 rated it really liked it
Overall, this was an excellent read. I’ve now read quite a few books on personal finance and this will likely become my “go-to” recommendation for family and friends who are looking for an introduction to building wealth. It is written in plain enough language that even those with limited experience in investing can understand. That said, if you are completely green to the topic, you will likely still want to do some of your own basic orientation to the differences between managed mutual funds, ...more
Lynn Cahoon
Mar 31, 2020 rated it it was amazing
Down to earth advice.
Tommie Hooft Van Huysduynen
May 07, 2020 rated it really liked it
Very America finance focused, but that was disclaimed beforehand. I enjoyed this and it's coming at a good time in my life :) I listened to this on Audible and enjoyed the narration as well.
JoJo
Mar 29, 2020 rated it liked it
Good read

Simplifies investing concepts through out the book, making for an easy read. Most examples based on US market and financial infrastructure so some aspects of the book not relatable. However the key principles remain universal and relevant
Jay
May 03, 2020 rated it it was amazing
Fantastic book on indexing and financial independence.
E Hella
Apr 29, 2020 rated it really liked it
I’ve been on the FI path for about 5 years so this didn’t have any new information per se, but I still enjoyed reading it and it helped me realize there are still minor mistakes/sub-optimal choices I’m making and need to clean up. Super readable book, approachable and fun tone. This will definitely become the go-to book recommendation for friends who ask me for $ advice.
Alex MacMillan
May 08, 2019 rated it really liked it
Shelves: re-read
“Stop thinking about what your money can buy. Start thinking about what your money can earn.” … “There are many things money can buy, but the most valuable of all is freedom. Freedom to do what you want and to work for whom you respect. Those who live paycheck to paycheck are slaves. Those who carry debt are slaves with even stouter shackles.”

This is probably the best personal finance book I will ever read. J.L. Collins investment strategy is based on the fundamental premise that happiness is no
...more
Gavin
Jan 14, 2019 rated it liked it
A light and thorough, if not slightly repetitive, review of some simple principles that can be taken to achieve financial independence much earlier than the herd, and with far fewer fiscal maneuverings. The book became slightly tiresome for me about halfway through as the repetition of the Vanguard investment strategy was mentioned every other paragraph. I imagine that this is an artifact of the original format of the text (letters and blog entries). At any rate, you'd be hard-pressed to get to ...more
Simon Eskildsen
Aug 20, 2017 rated it liked it
Been doing passive investing for years, although with my primary resource being the Internet, my knowledge has been a bit sparse. I still have many questions, and wanted to find a comprehensive piece that'd inevitable answer some of them, such as: Why is it OK to have 50-100% of your portfolio in the US market? Why is the standard withdrawal rate adjusting for inflation 4%, and not 5%? When should you invest lump-sum, or do dollar-cost averaging? Among others. Something I wish this book had gone ...more
Egor Andreevich
May 27, 2018 rated it it was amazing
I'm very new to investing and have been shying away from it for a long time, as it always seemed to be a complicated topic.

It took me a single weekend to finish this book: yesterday morning I knew next to nothing about stocks, bonds, and many other things, and now I feel like I've got a decent understanding and a clear strategy. The way J.L. Collins lays out the concepts is easy to grasp, and although the book often feels repetitive, I feel like this helped solidify my understanding and bring t
...more
heidi
Mar 13, 2019 rated it it was amazing  ·  review of another edition
Shelves: favorites
Perfect for beginners to investing. Or for those of us who don't want to spend the majority of our lives obsessing over money and how our retirement portfolio is doing.

Pros: simple, solid advice. Explains major investment concepts in easily digestible text. Good to keep around as reference; highlight or bookmark specific chapters and to-do lists to refer in future. If somebody came to me to ask how they should invest their savings or a windfall, I would totally recommend them this book first.

C
...more
notentirely
Sep 15, 2019 rated it really liked it  ·  review of another edition
Shelves: non-fiction
The title makes it sound like another snake oil book, but what it really is doing is taking concepts you likely already know and putting them together in a way that is actionable and logical. It's a lot of stuff you've read about if you're into personal finance, but Collins lay them out in a practical, step-by-step guide with reasoning and data. The "what to do as you get close and then retire" was the most useful. His scenarios there have given me food for thought about how to make all those ye ...more
Vishal Amin
May 07, 2019 rated it it was amazing
Good book for those looking for tactical advice after already having a basic knowledge of personal finance. He does go over some basic principles but I would imagine those just getting started will be disoriented at first. Heavily skewed towards vanguard products, but is transparent and describes why, which should allow those who want to evaluate their own options. Specifically strong on describing the benefits of a simple investment portfolio and a divergent view on criticality of bonds and int ...more
Amanda
Mar 10, 2019 rated it really liked it
This book actually explained the basics of investing well enough that I feel confident I can actually do it. I have heard a lot online from other people who practice these principles which makes me feel more confident in taking this approach. A bit repetitive in some aspects and slightly under informative in others but all around very helpful. Also a very quick read, which is nice.
Thijs Niks
Jun 05, 2017 rated it really liked it
This book covers the basics of what you need to know about steady investing, though it's very America-centric and could do with a more elegant writing style and structure. I preferred his series of blogposts on the same topic.
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#debtfreecommunity: November: The Simple Path to Wealth 1 10 Apr 13, 2019 08:18AM  

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