The Simple Path to Wealth (Revised & Expanded 2025 Edition): Your Road Map to Financial Independence and a Rich, Free Life
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As seen on "Hasan Minhaj Doesn't Know." Instant New York Times Bestseller. The Proven Guide from the Godfather of Financial Independence—now comprehensively updated and expanded New edition includes: updated data, FAQ, a Simple Path to Wealth Punchlist, Resources & Tools. “Beautifully written, a simple book that will have a profound impact on your life.” —Morgan Housel, author of The New York Times bestseller The Psychology of Money What if the path to wealth isn't about timing the market or picking hot stocks, or even about paying someone else to do it for you? What if it’s actually about following a radically simple plan that’s not only easier to implement, but also more lucrative than the alternatives? Drawing from fifty years of investing experience, and born out of a series of letters the author wrote to his daughter, The Simple Path to Wealth has become foundational to the FIRE (Financial Independence, Retire Early) movement, inspiring hundreds of thousands of readers to reimagine their relationship with money and freedom. The real-world success of Collins' approach is documented in Pathfinders, his collection of stories from readers who have transformed their financial lives using his method. Whether you care deeply about money, or never want to think about it at all, you’re living in a culture of spending. Everyone’s telling you that handing over your cash for this gadget, this potion, this lifestyle is the key to happiness. Meanwhile, the reality is that happiness is more likely to come from having the financial freedom to live the life you really want. Whatever your relationship with money, you will be heartened by Collins’ essential insight, which is that simplicity beats complexity every time. This comprehensive guide covers everything from debt elimination to optimizing retirement accounts, all while exposing the marketing myths and investment industry practices that keep most people from building real wealth. Collins shares specific, actionable strategies for both wealth-building and wealth-preservation phases, with a straightforward approach to asset allocation that anyone can implement. Collins' direct, often irreverent style makes complex financial concepts crystal clear, giving readers the tools and confidence to take control of their financial future. More than just another investment book, The Simple Path to Wealth is a blueprint for financial independence – showing readers how to break free from the financial industry’s traps and live life on their own terms. Read more
Publisher : Authors Equity
Publication date : May 20, 2025
Edition : Revised
Language : English
Print length : 320 pages
ISBN-13 : 74
Item Weight : 14.4 ounces
Dimensions : 5.5 x 1.2 x 8.25 inches
Best Sellers Rank: #331 in Books (See Top 100 in Books) #1 in Retirement Planning (Books) #2 in Introduction to Investing
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Top Amazon Reviews
I liked the author’s podcast interview by the respected, data-driven and the whimsical Mad Fientist. I bought this book for two important reasons: it was self-published and the author’s persistent reference to Jack Bogle’s genius. I support self-published financial authors because the traditional publishers deploy editors to tweak the author’s voice, and original story, to make the final “processed” book more sellable. Instead, self-published authors do not have to satisfy shareholders or generate sales, so the author’s message about Bogle’s investment philosophy and the company he founded, Vanguard, remains organic for the readers’ best interest. This book is perfect for beginners, and some seasoned investors who are sick and tired of searching for that short-term investment miracle. Collins stuck with Bogle’s purest message from the beginning to the last word. As a Bogle devotee myself, I appreciate his courage to stand up, write a terrific book and argue effectively for the powerful and low-cost indexing strategy and against the delusional appeal of day-traders, hedge fund managers, active management strategies, timers, or individuals who claim they can successfully speculate and win big. Far too many normal investors get caught up in those phony, but exciting fantasies and lose. The new guy or gal investor gets the skills to construct a simple portfolio you understand, and then have the courage and the confidence to permanently ignore the media’s seductive financial noise machine. The Simple Path to Wealth's basic message to beginners is well-known in the Do It Yourself (DIY) and ESPECIALLY for the Youthful Financial Independence (aka FI and FIRE Financial Independence Retire Early) community. • think long-term • live below your means • plan ahead with a fully diversified portfolio (except international stocks, more on this below) • invest in Vanguards low-cost index funds Sooooo, what is not to like? I’ll admit it’s a boring plan, and not all DIYers embrace it. But I love my boring plan and it’s exactly where the power of what we can do lies—after setting up our plan, we must be patient. Collins writes much about psychology, for good reason. The power lies with us. It's not us versus the big intimidating stock market. With time and experience, we learn to be psychologically tough for long periods of time. In the movie Wizard of OZ, Glenda told Dorothy that she “always had the power to go home again?” It's the same for us investors. All of the features of constructing a balanced plan remains under our control. It fairly easy to learn. But the hard part is the unfair and counterintuitive psychology. Thinking long-term is the best antidote. Over time the growth will pay enough of a return to meet or beat the inflation rate. Meeting or beating inflation is a simple, realistic goal, and psychologically attractive. This book shows you how to like saving with minimal time and effort to discover the investing process. Patience, psychology, and philosophy are a difficult sell. Many investing aficionados are more interested in the adrenaline rush and chasing the opposite sex than building wealth over time. The market is not something to conquer or control. It is simply made up of wonderful organizations of hardworking people, called publicly traded corporations. The author explains how to harness all of that positive corporate energy, and just flow with it, whether it goes up or down, and over time it goes up. The author addressed the tough sell challenge with elegance and subtle toughness. The author discusses investment costs, taxes, tax-deferred retirement plans offered by employers, the retirement years and strategies to keep from running out of money. My favorite chapters are “Why I don’t like Investment Advisers” and “Some final thoughts about risk.” Financial advisers are an easy target with hundreds of reasons not to like. Most of us DIYers will never need a financial adviser, for two good reasons: Collins writes “Nobody cares about your money more than you do,” and “you can learn to manage your money yourself with far less cost and better results.” From my personal experience, knowing how to save investment costs alone was enough to pay cash for the Tesla Model S. On the subject of risk, my favorite part, and I quote as the author was speaking to the zombie apocalyptics among us especially the financial media: “Major Armageddon extinction events, like the asteroid that took out the dinosaurs some 65 million years ago, have happened about five times. So that’s about one every 10 million years or so. Are we really arrogant enough to think it’s going to happen in the geological eye-blink we’ll be around? That we’ll be the ones to witness it? Not likely.” Economic Armageddon ain’t going to happen either. There are a few minor omissions. The author is not well known, so he needs to talk more about himself about what he did. I felt like he had more to say as examples of his fears of risk and the mistakes he made. All of that would have made the book even more authentic and organic. What was the role of his wife? What exactly did the author and his wife do for a living? He did report that he worked as a financial analyst. So, was he in the financial industry? He did not explain why he had an overly aggressive portfolio for an individual in his 60s. He did not share his diversification plan, except that he doesn’t own international stocks (he explains why). Consequently, I give him an A for telling us how to set up a portfolio and his rationale, but I give him a B for not showing what exactly he did and for how long. His rationale is spot on, but portfolio construction and asset allocation strategies and information can be found in many books (The Boglehead Guide to Investors, any book written by Jack Bogle or his followers, Ferri, Swedroe, Roth, and Bernstein). • Some other minor items that I found perplexing and discouraging for people starting out. On page 246, he writes, “Save and invest at least 50% of your income.” What? I reread this twice, and could not comprehend why the author wrote this. In my working career, I could not even contribute the maximum allowed in my 403(b) plan let alone save 50% of my income (No, I never had new car payments because I could not afford car payments and invest too). Yet, I reached financial independence at age 61. 50% of one’s income is overreaching and dangerously discouraging (unless you are a highly elite and talented employee with a 7 figure income). For the rest of us, just start with what you can afford. For example, I started at age 37 with $200 a month in my 403(b), and that was a lot out of my meager income. But I kept it up for 24 more years. • Back to his strategy about avoiding international stocks. The author knows he will get pushback, and he probably has heard my argument for international investing many times. Mr. Collins is just following Bogle's advice about keeping it simple. But one can have it both simple and fully diversified worldwide by one fund. Diversification means investing in all available stocks, worldwide. So, let’s take advantage of these opportunities to invest in just one fund, the Vanguard Total World Stock ETF (VT). The author won’t have it. IMO, the author might be reflecting his age and the Familiarity/home bias that is so frequent with the silent generation. The author writes investing in the United States domestic market is enough diversification because of the worn-out 21st-century global connections argument. He offers what appears at first glance valid reasons, but they are out-of-date, and one about excessive costs is flatly wrong. Vanguard's Global fund charges .14%. I don’t know about you, but the opportunity to invest in all publically traded companies on the planet is inexpensive! Also, I am 74 years old and old enough to remember my elders saying that is too risky to invest in foreign stocks. We are well into the 21st century and the world has changed. Don’t you think that international corporations want to grow and prosper too? Of course. Don’t you think opportunities for diversification have evolved for the better? Yes. I want as much diversification as possible to reduce equity risk, and reduce volatility. I might even get higher returns, but that’s not part of my expectations. The global index funds or ETFs make full diversification in just one investment a synch. • Another minor objection is his downplaying the Roth IRA. I think he over-complicated with trying to predict the tax rate to decide to use or not use the Roth IRA. It’s futile and a waste of time to guess the future. Not having to pay capital gains taxes after investing in the Roth IRA is one of the best strategies for us regular investors (You can run the numbers on a brilliant Excel program created by The Finance Buff). After running the numbers on the Excel program, you will be thoroughly convinced to include the Roth IRA in your plan. • One last objection. I recommend to readers who don’t have a “lump sum” that is, a bundle of money to invest already, that you ignore the “Why I don’t like dollar-cost averaging” chapter. I had to use DCA during my entire working career investing in my 403(b). Because I started from NOTHING and had less than $50,000 for years. If you have a lump sum to invest, follow the author’s advice. But I think I can speak for most investors who have little choice but to use DCA. His opinion about DCA was more discouraging than encouraging. Collin’s strong opinions about some of his investment ideas represent more of his individuality than sound investment practice. Of course, the author never intended to be discouraging. I am just responding as a reader with a few of my opinions about his outstanding work. That’s perfectly fine for him as his opinions worked for him and they might work for you too. My opinions worked well for me. In the final analyses, he follows the “Boglehead” way. For that, I am delighted he wrote a great self-published book showing once again the work of the legendary investor, advocate, and teacher, Jack Bogle. Outside of these minor differences of opinion, Mr. Collins earned a well-deserved five stars. In sum, if any author self-publishes a book about investing, I think it is important to readers to know that the message is organic—no other agenda item hangs in secret, other than to explain and layout a simple plan which will connect with new investors and get them results.
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Reviewed in the United States on September 14, 2016 by Stephen S
Let me start by saying I am not the avid reader. I wish I am, and am working towards it, but I am not there yet. However, this was one of the best books I've read in a while. He explains everything so simply, and gives real world examples and stories, which really makes it much more of an interesting read. It also gives many good points and explains why, rather than just "don't do this. It's bad." Collins instead will say "it's bad because..." I haven't read a book like this in a while. Great read.
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Reviewed in the United States on July 9, 2025 by Daniel Yaseen
This is an easy reading, great book. Ideal for new investors mostly or so I thought. It's also a great perspective for seasoned investors who have complicated their lives with researching stocks, trading options, etc. I'm looking to simplify my investing and this book showed me the way. It's a great and simple and effective perspective on saving & investing.
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Reviewed in the United States on August 6, 2025 by Mike S
This book is great. It’s straight to the point and gives you the financial advice you need to be set for life without a bunch of extra fluff. Highly recommend. The only reason I didn’t give 5 stars is because it’s very Vanguard-centric. I’m not against Vanguard, but my job set up my 401k with Fidelity so I’ve been using them. But I might start using Vanguard too. Very useful book with simplified and fool-proof advice.
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Reviewed in the United States on July 31, 2025 by Amazon Customer Amazon Customer
Been following JL Collins since inception, 2016! The # 1 Book/Blog/Podcast/Video - all things 'J.L.' to thrive, prosper, sensibly, intelligently, with wisdom, maturity, self-discipline. Financial Independence is possible for EVERYONE! His Teachings have changed lives, recreated them in countless fashions! Follow him for financial, spiritual maturity! Absorb all he shares; you'll be changed forever! His books have sold millions. Humble, humorous, chock-full of goodness. His followers offer much goodness as well! Thank you, J.L.! Happy Anniversary, New Edition! Anticipating receipt of the paperback edition on Memorial Day, Monday, May 26, 2025. 🇺🇸🪖🎖️ Purchased the original 2016 hardcover edition, which I cherish. Blessings, J.L., Family, Followers! Please share with everyone you know!
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Reviewed in the United States on May 21, 2025 by Ellen Guardiano
J.L. Collins provides clear, practical guidance on how to build wealth over time. The focus on low-cost index funds and long-term thinking is refreshing and easy to grasp, even if you’re new to investing, as I am. It’s straightforward and useful, and it's funny at times, which keeps you moving right along. It doesn't feel as if you're reading something that's good for you - but it's definitely going to help you stay the course and grow your wealth.
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Reviewed in the United States on July 23, 2025 by JenniferPT
This is actually an excellent book, and it supports my own views on investment (I’ve had some good successes over the years). If you have a son or daughter who needs some help understanding how to invest money in stocks, this book is the ticket. The audio version is read by the author, and he has a wonderful voice and charismatic style. The content is serious and thoughtful, and a refreshing change from the self-congratulatory works by the professional Wall Street traders.
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Reviewed in the United States on June 28, 2025 by Carl W.
An excellent, easy to read, well laid out “Simple Plan to Wealth.” I’ve recommended it already to a number of younger friends I care about and mentor. I wish I would have had this wisdom and plan of action 30-40 years ago. I didn’t but I can share it with those who want to live wisely with their money.
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Reviewed in the United States on July 8, 2025 by Don Schreier