BiggerPockets Money Podcast 20: The Simple Path to Wealth—Index Funds Explained with JL Collins

by | BiggerPockets.com

Jim Collins has literally done it all. From busboy, produce, clerk, and gas station attendant, to ad agency founder, sales trainer, radio co-host, and publisher. He is a prolific world traveler, having visited more than 30 countries on five continents via motorcycle, car, train, plane, boat—and even elephant.

Jim has lived a very good life. And along the way, Jim has learned that money is a tool that can offer the freedom to live the life you want to live.

He’s also figured out that there is a very simple path to wealth. While you can make money picking individual stocks, the index fund is a very easy way to grow your wealth in the stock market without spending time researching companies.

This episode truly is the show for anyone who has money or wants to have more.

Click here to listen on iTunes.

Listen to the Podcast Here

Watch the Podcast Here

Help Us Out!

Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds. Thanks! We really appreciate it!

Podcast Sponsor

For over 36 years, The Entrust Group has provided account administration services for self-directed retirement and tax-advantaged plans. Entrust can assist you in purchasing alternative investments with your retirement funds, and administer the buying and selling of assets that are typically unavailable through banks and brokerage firms.

Visit The Entrust Group today.

In This Episode We Cover:

  • Jim’s background
  • How he discovered the FI concept
  • The position of power in his life, and how he made bolder choices
  • How he transitioned into financial business
  • How he was able to achieve high savings rate
  • Achieving FI, picking individual stocks, and actively managing funds
  • Separating your emotions from your investments
  • Four things you need to move toward FI
  • The key things to remember when investing in an index fund
  • What self-cleansing means
  • His timeline for investing in index funds
  • Buying bond market index funds
  • His take on the “Bloodbath on the Wall Street” headline
  • Strategy for getting into the market
  • Ways to invest in the stock market
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Tweetable Topics:

  • “It’s not a matter of choosing between something that is terrible and something that is great. It is choosing between something that does work and can work depending on how skilled you are at it.” (Tweet This!)
  • “Stocks are never gonna love you back.” (Tweet This!)
  • “The longer the time period you hold, the more statically certain you can get.” (Tweet This!)

Connect with the Jim

About Author

The BiggerPockets Money Podcast is for anyone who has money… or want to have more! Join BiggerPockets Community Manager Mindy Jensen and Director of Operations Scott Trench weekly for the BiggerPockets Money Podcast!
Each week, financial experts Mindy and Scott interview unique and powerful thought leaders about how to earn more, keep more, spend smarter, and grow your wealth.
You’ll get tips for getting your financial house in order and actionable advice from guests who have been in your shoes – and found their way out.

2 Comments

  1. Don Spafford

    Mindy! Please let me know when there is a BP IPO. I would for sure jump on that. I started investing in stocks late 2008. i had some great success since everything was on sale. I was later able to use those earnings to pay for a car and use toward part of the down payment on my first investment property. Since then it is of course not as easy to pick winners. There have been a few, but I agree that index funds just makes it a lot easier to not spend time researching. If there are still great opportunities that come up, by all means buy those too. it isn’t just one or the other. But whatever you do, mix real estate in there as well to get to FI a lot faster.

  2. Cam Jimmy

    Thank again for the show Mindy and Scott. There is one way of investing in the stock market that I personally believe is better than just index funds. Employee stock purchase plans! At the company I am at, they offer a %15 discount on their stock. Its actually %15 MINIMUM discount. Let me explain… Once you apply for the ESPP (employee stock purchase plan), they automatically deduct whatever percentage you elect from your check. Throughout the semester your money gets deducted from your check and basically put into a reserve account until the end of the semester, when they buy all of your shares at once at a %15 discount. Here’s the best part… You get a %15 discount on the stock from whenever it was cheaper January 1st or June 30th!! so in reality you can get a waaay bigger percentage off than %15. Lets say on January 1st the company’s stock price is $1, and on June 30th it is $1.30… I get %15 discount at $1 a share, so i’m buying stock at $0.85 a share when its worth $1.30! So it’s basically me getting a %35 discount on the stock this semester. Freaking awesome!!! The only downside that I have found is that there are blackout dates when you can’t sell the stock. They do this to prevent insider trading. But i’m 33 years old, so I’m not trying to sell anytime soon. Has anyone else heard of this?

Leave A Reply

Pair a profile with your post!

Create a Free Account

Or,


Log In Here