In our Friday roundup Jonathan and Brad discuss the highlights and takeaways from the Monday episode with JL Collins. Then the podcast is opened up and crowd sourced to the community. Find out the specific travel reward perks that are available for active duty military and how to get started with VTSAX if you don't have $10,000 to invest
The Friday Roundup #8:
Review of podcast with Jim Collins
Jonathan’s baby was born! And he’s here recording the Friday Roundup two days later
2nd Generation FIRE and the impact on Jonathan with his new son
The value of starting a child on the path to FIRE from the very beginning
Index investing as one of the main ‘pillars of Financial Independence’
Jim’s Stock Series changed the trajectory of Brad’s investing life and will benefit him to the tune of millions of dollars in his lifetime
There are no investing gurus out there who will help you outperform the market over decades when including fees into the calculation
Jim is such a fantastic storyteller
Fidelity study of the classes of investors who do the best: dead people and those who forgot they had accounts
The best thing that can happen to someone who is young is for the market to drop while they are pumping money into the market.
Index investing: Losers can only go down 100%, but winners can go up indefinitely. The index is self-cleansing
Why stock picking contests promote the wrong behavior
The stock market always go up over decades.
You only lose money in the market when you try to “dance in and out of the market”
Warren Buffett will invest in a Vanguard S&P 500 index fund
Vanguard is growing faster than all of its 4,000 competitors combined (to the tune of 8.5x)
Feedback
Stitcher reviews – thank you for leaving them and letting us know they exist!
Sharing ChooseFI with friends and family
Feedback from Steve and Amy on the action they’ve taken since first listening to ChooseFI
How police officers and firefighters can access their 401K’s without penalty
Travel Rewards and Investing Questions
Travel rewards question about travel in Europe for hotels and Ryanair from Anthony and Abby
Question from Alyssa about different retirement account options and different investing options and how to get started for younger listeners who don’t have $10,000 to invest in VTSAX in one lump sum
The standard advice doesn’t apply for people on the path to FI, so they should max out traditional IRAs and 401k instead of Roth-IRAs
Links from the show:
The Stock Series at JLCollinsNH.com
ChooseFI podcast with JL Collins
Vanguard is Growing Faster than Everyone Else Combined at the NY Times
Neal Landfield article HR2146 how cops, firefighters and EMS can access their 401Ks without the 10% penalty
Friday Roundup 7 talk about hotel redemption options including Hyatt and Starwood
AwardMapper to see reward hotel options
Award Wallet to track rewards programs for free
Books Mentioned in the Show:
The Simple Path to Wealth by JL Collins
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