On Sale Now! Why Does The Stock Market Go Up? by Brian Feroldi

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036 | Community, Chautauqua, And AMA With JL Collins

Life Optimization
In today’s podcast with Jim Collins from The Simple Path to Wealth and JL Collins NH, we discuss the Chautauquas, in-person events plus an ‘Ask Me Anything’ series of questions from our ChooseFI community.

Podcast Episode Summary

  • Part 3 with JL Collins from JLCollinsNH, the Simple Path to Wealth and Stock Series fame
  • Jim’s discussion of Alan from PopUp Business School and how the UK Chautauqua came to be
  • The value of in-person events like Camp Mustache and the Chautauquas
  • Ask Me Anything segment with Jim with questions from our audience and private Facebook group
  • Question from Amber from our Facebook group about the value of annuities, reverse mortgages and fixed income items
  • Jim only recommends investing in stocks and bonds. The goals that Jonathan spoke of in the question can be balanced by allocating different percentages to stocks and bonds
  • Jim believes annuities and reverse mortgages are laden with fees that make them poor investment vehicles
  • Annuities pay a guaranteed income which appeals to many people, but since you are buying them from an insurance company you are buying this contract and you will never see your principal ever again. That is the annuity contract
  • The insurance company is betting on your death essentially based on actuarial tables for the annuity
  • Question from Emily on international equity allocation
  • Jim doesn’t see the need to hold international funds because VTSAX contains a significant international allocation with US multinationals, the expense ratios are higher and there is more risk because of lack of transparency in emerging economies
  • Question from Jeff on when to move from 100% equities to holding some bonds
  • Question from community member Brad on how to mechanically rebalance your funds
  • Jim does his rebalancing within his IRAs so there is no taxable event
  • He rebalances approximately once per year
  • Question from David on being too aggressive and Japan’s prior decades performance
  • Jim believes what Japan is going through is a “Black Swan” event and this is theoretically possible this will happen to the US
  • Questions from Felisa on Jim’s thoughts on inflation
  • Some inflation is normal and to be expected, but runaway inflation is extraordinarily scary
  • Question from Matt on why Jim is in a different bond fund than he recommends on his site
  • The Key to the Simple Path to Wealth is buying and holding for the long term
  • You always need to approach your life and FI journey with an open mind and be willing to be flexible and change as the facts change
  • Simplicity and flexibility
Listen to Brad and Jonathan’s thoughts about this episode here. Links from the show:
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