The Simple Path to Wealth is an audiobook by JL Collins, narrated by JL Collins and Peter Adeney. The unabridged Audible edition runs 6 hrs 38 mins.
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
Audiobook Details
- Narrated by: JL Collins and Peter Adeney
- Length: 6 hrs 38 mins
- Publisher: Audible Studios
- Release year: 2017
- Audible category: Money & Finance / Investing & Trading / Money & Finance
Listener Ratings
The Simple Path to Wealth holds an average listener rating of 4.8/5 from 10280 Audible ratings.
On Audible, ratings for this title break down into narration performance and story separately:
- Performance (narration): 4.8/5
- Story: 4.8/5
- 5-star ratings: 86% of all ratings
What Audible Listeners Are Saying
5/5 stars — “This is it!”
I have read dozens of great, and not so great books on the subject of wealth management, financial planning and the like. As a relatively financially successful middle-class American I can say that much of the advice offered herein is very helpful. I wish I had known years earlier to be this focused and simple in my approach to building wealth. Anybody making $20,000 a year or more and starting young and willing to follow this man’s advice will retire sooner or later at something between well-off and corpulently wealthy.If I was going to suggest that someone read one book and only one book on the subject of financial independence without going into too much detail on why this is the one book, this would be my suggestion.
The prose are incredibly crisp and succinct. I would love to have a beer with the author. He’s basically a stoic wrapped in the iconoclastic veil of a money man. Cheers!
— Beauregard Ames Burgess, Audible listener
5/5 stars — “Wow…I wish I had this book a long time ago”
This is everything I wish my Dad had taught me about money. The author did a terrific job narrating, and I really appreciate the PDF that accompanied the purchase. I plan to listen to this many more times.— lisam5305, Audible listener
5/5 stars — “Amazing “
I loved this book. It’s changed the way I think and I have already changed my habits and thoughts on investing and living as a whole. Everyone should read ( or listen) to this book.— Amazon Customer, Audible listener
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