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The Simple Path to Wealth Audiobook

The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life

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Publisher's Summary

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
  • Why I don't recommend dollar cost averaging
  • What financial independence looks like and how to have your money support you
  • What the Four Percent Rule is and how to use it to safely spend your wealth
  • The truth behind Social Security
  • A case study on how this all can be implemented in real life

Download the accompanying reference guide.

©2016 JL Collins (P)2017 Audible, Inc.

What the Critics Say

"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, cartoonist, author, and self-described ruffian)

What Members Say

Average Customer Rating

4.8 (213 )
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Performance
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  •  
    Joshua 06-30-17
    Joshua 06-30-17 Member Since 2017
    HELPFUL VOTES
    4
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    "Fantastic!"

    I've read six or seven early financial independence books recently and this one is the best. I like the author's down-to-earth style and overall presentation. A great listen!

    4 of 4 people found this review helpful
  •  
    Javier 07-17-17
    Javier 07-17-17
    HELPFUL VOTES
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    "Practical details with no confusion"

    I liked the fact that he lays it all out with facts to back his insight. He also gives great steps to follow if you choose. Never thought of investing as simple until now. Thanks JL.

    1 of 1 people found this review helpful
  •  
    jett 07-09-17
    jett 07-09-17
    HELPFUL VOTES
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    "Lives up to its title . . . and then some"
    Any additional comments?

    Oh how I wish: (a) this book had existed back when I was just graduating from college, (b) somebody had given this book to me, and (c) I had listened to every word in it.

    This is one of those "If I knew then what I know now" books. The lessons in here are priceless. Everybody should read this book and heed the advice in it.

    The best part is you don't have to be all that interested in finance or 401(k)'s or any of that stuff. In fact, if you really dislike such things, this is probably the perfect book for you. JL Collins takes these complicated and boring financial matters and does two nice things for you: (1) throws out all the crap you don't need to know, and (2) explains what you do need to know in layman's terms that anybody can understand. So not only is the wisdom in this book chockfull of solid gold nuggets on a need-to-know basis, but the delivery is crystal clear and simple to follow in practice.

    Speaking of the delivery, OMGoodness does JL Collins have a superb voice for the audiobook format. He reminds me of David McCullough. He has the kind of deep grandfatherly "gather 'round the campfire for a story" voice. It's fabulous.

    In summary, this book is worth every penny. Along with a handful of other "quake books" that changed my life for the better, this one is getting added to that list (right alongside John C. Bogle's "The Little Book of Common Sense Investing"). I can't recommend this book enough. Get it for yourself. Listen to it. Make your kids listen to it. Your siblings. Your friends. Your parents. The lessons in it are too valuable not to share with everybody you know.

    1 of 1 people found this review helpful
  •  
    maria thomas 10-15-17 Member Since 2017
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    "Best advice I've heard/read"

    loved it! I read all the F.I.R.E blogs/podcast I can, and this book really takes the most confusing material through the blogs and makes it easy to understand. Thanks so much Mr. Collins!

    0 of 0 people found this review helpful
  •  
    Rich Hawthorne, NY United States 10-12-17
    Rich Hawthorne, NY United States 10-12-17 Member Since 2017
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    "First Audible Book"

    This was the first book I've listened to on Audible and I found myself sitting in the car for 5-10 minutes after I arrived just to listen more. If one knew nothing about using low cost investing and saving for retirement this could be your road map.

    0 of 0 people found this review helpful
  •  
    lang sy cao 09-20-17
    lang sy cao 09-20-17
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    "Informative and helpful information"

    My aunt was the one that referred me to this book. Her and her husband had an financial advisor for about two years. During that time their money was not growing as well as three thought. In addition they found out that a lot of their costs were going to the financial advisor. After reading this book she took her investment and like Jim Collins advised, she invested it in Vanguard accounts. She told me after I read this book I would change my thinking and truly want to invest in my future in a different way. My aunt was totally right. This book was very informative and explain the simple way you can invest to build your wealth. I'm not in my 20's unlike Mr. Collins daughter, but I do still have a good 20 years o plan to work and plan to use the tips that Mr. Collins advises so that I may retire comfortably. I highly recommend this book to anyone who want to grow their wealth and also help their children to start .

    0 of 0 people found this review helpful
  •  
    Kyle 09-15-17
    Kyle 09-15-17 Member Since 2015
    HELPFUL VOTES
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    "Good.. not complete"

    Don't get me wrong. This was a great book. The advice is solid and if you follow it, you'll be rich. End of story.

    Having said that, he did over simply some things and left out the details that I was looking for. His attitude got pretty irritating. He kept talking about simple and was kind of a** at times. We get it, it's the simple path to wealth, how many times are you going to tell us to buy VTSAX??? Book could have been shorter. He also contradicts himself when talking about how to allocate an Roth IRA.

    The narrator was insufferable and I almost had to stop listening. Although it's possible I have mesophonia.

    1 of 2 people found this review helpful
  •  
    Maven 09-07-17
    Maven 09-07-17 Member Since 2017
    HELPFUL VOTES
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    "Simple, clear to understand and magnificent"

    I wish I had access to this book years ago. In my early 20's my friends and I were picking stocks. After years of trying and failing, we kept commenting how we have lost to the index fund each time. It takes great wisdom to understand that we shud have followed what JLCollins have suggested.

    0 of 0 people found this review helpful
  •  
    Steven Brindle 08-29-17
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    10
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    "get it for your HS or College grad."
    Would you recommend this audiobook to a friend? If so, why?

    Like the author, I've learnt much of this over time. I bought it for my 20yo son. He's already has the Roth IRA at Vanguard setup. A humerous note, he asked if this book is about financial independence, it refers to FU money. Get it for your kid and get them started early.


    0 of 0 people found this review helpful
  •  
    Amazon Customer 08-25-17
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    "Comprehensive and Easy"

    Awesome book, well structured and easy to understand for someone with no investment knowledge; Just magnificent!

    0 of 0 people found this review helpful
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  • AC
    UK
    8/17/17
    Overall
    Performance
    Story
    "I'm only half way through and wow!"
    Where does The Simple Path to Wealth rank among all the audiobooks you’ve listened to so far?

    In the top 10, it's straight forward, no nonsense self-promotional rubbish. He cuts to the chase, really well.


    What other book might you compare The Simple Path to Wealth to, and why?

    Killing Sacred Cows, just to get you thinking differently.


    Have you listened to any of JL Collins and Peter Adeney ’s other performances? How does this one compare?

    NA


    Was there a moment in the book that particularly moved you?

    The introduction, then the ones that followed. Consistently easy to digest the material.


    0 of 0 people found this review helpful
  • M. Paterson
    scotland
    8/8/17
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    "Listen & apply the advice = end up rich!"

    I found JL Collins through www.mrmoneymustache.com. I love both of these bloggers. So it was only natural that I bought The Simple Path to wealth. Jim's life & financial advice just makes sense. I'll be advising my children to follow it and any friends & family I think could benefit.
    Follow his advice and end up rich. It's simple!

    0 of 0 people found this review helpful

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