Financial Independence: “The Simple Path to Wealth” Book Review
Financial independence is one of those things that used to scare me. Don’t get me wrong finances can be extremely stressful at times and there are times I still cringe at the thought of managing them. That cringe has gotten less and less as I have educated myself. Now you are thinking how in the world am I going to sit and read books/articles to educate myself without falling asleep?
I found the book, “The Simple Path to Wealth,” to be incredibly easy to read and very insightful. Don’t get me wrong you can’t just read this book and be 100% proficient with your finances but it’s a darn good start. Before we get to the book and my thoughts on it, let me tell you where I came from, and my aspirations for becoming financially independent.
Point 1
Not long (years) ago I was in college. Like most I had a job, student loans and supportive parents but these did not suffice the financial burden it takes to put one through college. I made the decision at the time to rely on another. In the matter of minutes one day this changed. I was without a place to live the last month of junior year spring semester. This of course is when all those projects, research papers and grueling finals were in full swing. I am extremely fortunate for my great friends and the numerous slumber parties that occurred that month, that got me through. I am not going to call this a mistake, as it was a huge learning lesson for me. It was an eye opening experience and one which fueled my desire to become financially independent.
From this experience my Dad gave me the advice to always be able to support myself and to never rely on anyone else. I took this advice to heart and ran with it. From that day on I somehow was able to support myself. Of course I had help from my parents along the way in the form of groceries, meals, gas and their support. At times it wasn’t pretty nor living a “lux” life, but I was supporting myself.
Point 2
A few years back we lost our “rock,” my Dad; the man who always gave the best and most insightful advice. The loss of my Dad triggered yet another educational opportunity to learn about finances. While helping my Mom the best I could, I read numerous retirement articles; what was this and what was that. I knew I had to know and learn more.
Book Review & Advice
I had been in search of a book that reviewed numerous financial aspects/areas for awhile. I was fortunate this past year to stumble across “The Simple Path to Wealth,” by JL Collins. JL Collins wrote this book for his daughter Jessica (how fitting) to aspire financial independence. I read this book within a couple weeks. It walks you through the market, mutual funds and retirement to name a few. This book is a fabulous high level overview of financial independence.
Post reading “The Simple Path to Wealth,” I felt I had a greater understanding of the “financial” world we live in. Since reading the book I have read numerous other articles, spoken to others and got myself even more invested in my life. Life is too short to not have the “F-You Money” the book speaks about. You never know what’s going to happen, whether your significant other dies, your parent dies, you get divorced or break up with that life long partner. You just don’t know. I don’t wish bad upon anyone, but it does happen and we all need to be prepared for it.
If you are like me and really were/are a bit clueless of what goes on besides the news, those great shopping deals and the life that surrounds you I urge you to pick up this book. It’s a fast, understandable read and again super insightful. I am not saying it’s going to fix all your problems or tell you everything. I am just saying it’s a fabulous place to start.
Where to Buy: The Simple Path to Wealth
