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  • The Simple Path to Wealth

  • Your Road Map to Financial Independence and a Rich, Free Life
  • Written by: JL Collins
  • Narrated by: JL Collins, Peter Adeney
  • Length: 6 hrs and 38 mins
  • 4.5 out of 5 stars (71 ratings)

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The Simple Path to Wealth

Written by: JL Collins
Narrated by: JL Collins, Peter Adeney
Free with 30-day trial

₹199 per month after 30-day trial. Cancel anytime.

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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
  • 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

"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 listeners say about The Simple Path to Wealth

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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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    5 out of 5 stars
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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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  • Overall
    5 out of 5 stars

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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  • Overall
    5 out of 5 stars
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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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  • Overall
    3 out of 5 stars
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    3 out of 5 stars

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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    3 out of 5 stars
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    3 out of 5 stars

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