The Simple Path to Wealth by JL Collins: Book Review

If you are interested in personal finance, you might have heard of <The Simple Path to Wealth by JL Collins>. This book is a personal finance guide that was published in 2016, based on the letters that the author wrote to his daughter. The author started investing in 1975 and shares his investment experience and wisdom in this book.

The main content of this book is as follows.

• The purpose of personal finance is to achieve freedom and happiness. Therefore, the author recommends simple and safe investment methods rather than complex and risky ones.

• The most important tool for personal finance is F-You Money. F-You Money means having enough money to live the way you want. With F-You Money, you can reduce stress and pressure from work and choose a job that aligns with your values.

• The simplest way to invest is to invest in the stock market. The author claims that the stock market always rises in the long run and brings profits to investors. Therefore, the author suggests investing in index funds or ETFs that follow the entire market, rather than individual stocks or active trading.

• The safest way to invest is to eliminate debt. The author says that debt is the biggest enemy of personal finance and paying off debt gives a higher return than investing. Therefore, the author emphasizes reducing unnecessary spending and debt, and increasing saving and investing.

This book explains the basic principles and methods of personal finance in an easy and friendly way. The author also adds his personal stories and humor, making it fun to read. This book will help you reduce fear and confusion about personal finance and make your own financial plan.

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12 Best Books to Read for Self-Development in 2024

Self-development books have the power to improve, grow, and make us happy in our lives. However, there are so many self-development books that it can be hard to decide which ones to read. Therefore, I would like to recommend 12 self-development books that you should read in 2024. These books cover various topics and perspectives on self-development, and they all provide practical and effective advice and insights. If you read these books, you will be able to bring positive changes to your life.

1. The Psychology of Money by Morgan Housel

This book explores in depth our psychology and behavior related to money. The author explains how the way we earn, save, invest, spend, and lose money is influenced by our values, experiences, and emotions. He also discusses the relationship between money and happiness. This book will help you change what you know about money, and improve how you feel and act about money.

2. Digital Minimalism by Cal Newport

This book warns about the negative impact of excessive use of digital devices and social media on our lives. The author introduces the concept of digital minimalism, and suggests how to practice it. Digital minimalism is a way of living that minimizes digital devices and social media, and focuses on truly valuable and meaningful activities. If you read this book, you will be able to rethink your relationship with digital devices and social media, and bring more focus, satisfaction, and abundance to your life.

3. The Squiggly Career by Helen Tupper and Sarah Ellis

This book recognizes the fact that modern careers are no longer linear and predictable, but squiggly and uncertain, and tells how to cope with it. The authors explain the five key elements of career: strengths, values, impact, confidence, and happiness, and provide practical tools and strategies to develop them. If you read this book, you will be able to understand your career better, and have more control and responsibility over your career.

4. Out of Office by Charlie Warzel and Anne Helen Petersen

This book investigates and analyzes our work and life that have changed after the coronavirus pandemic. The authors explore the phenomena and problems such as remote work, flexible work, asynchronous collaboration, digital immersion, work-life boundaries, and so on, and offer suggestions and advice to solve and improve them. If you read this book, you will be able to adapt to the new paradigm of work and life, and enhance the quality of your work and life.

5. Meditations by Marcus Aurelius

This book is a diary and a guide to life written by Marcus Aurelius, who was an emperor and a philosopher of Rome. The author reflects deeply on the nature, morality, death, fate, freedom, justice, happiness, and so on, according to the doctrines and principles of Stoic philosophy, and tries to adjust and correct his actions and attitudes. If you read this book, you will be able to think more deeply about your life, and gain more peace and wisdom in your life.

6. Atomic Habits by James Clear

This book explains the power of small habits, and tells how to create good habits and eliminate bad habits in a scientific and practical way. The author explains the psychology and neuroscience of habits, and the four elements that influence the formation and change of habits: cues, cravings, responses, and rewards. He also introduces the four laws to improve habits:

- Make it obvious

- Make it attractive

- Make it easy

- Make it satisfying

and provides examples and tips to apply them. If you read this book, you will be able to change your habits effectively, and achieve your goals and vision.  

7. The Power of Now by Eckhart Tolle

This book explains how important and powerful it is to focus on the present moment, and tells how to practice it. The author explains the negative impact of our fixed ideas and emotions about the past and the future on our lives, and the positive impact of living in the present moment on our mind and body. He also provides practical exercises and techniques to live in the present moment. If you read this book, you will be able to feel more rest, peace, and joy in your life.

8. The 7 Habits of Highly Effective People by Stephen R. Covey

This book explains the seven habits that effective people have, and tells how to learn and apply them. The author explains the three stages of human growth and development that are necessary: dependence, independence, and interdependence, and introduces the habits that should be practiced at each stage. If you read this book, you will be able to bring more efficiency, effectiveness, and success to your life.

9. The Subtle Art of Not Giving a F*ck by Mark Manson

This book points out the fact that we care too much about too many things, want too many things, expect too many things, get disappointed by too many things, and get stressed by too many things, and tells how to deal with it. The author helps us distinguish what we should and should not care about, and have a more realistic, responsible, and healthy attitude towards what we care about. If you read this book, you will be able to feel more freedom, control, and happiness in your life.

10. The Four Agreements by Don Miguel Ruiz

This book explains the four agreements that we should keep to improve our lives, discover our selves, and realize our dreams, based on the ancient Toltec wisdom. The four agreements are as follows:

- Be impeccable with your word

- Don't take anything personally

- Don't make assumptions

- Always do your best

If you read this book, you will be able to bring more love, respect, confidence, and self-expression to your life.

11. The Happiness Project by Gretchen Rubin

This book is a record of the experiment that the author conducted for a year to find more happiness in her life. The author focuses on a different topic every month, sets goals and activities related to that topic, and shares the results and lessons. The author explores various factors that affect happiness, and suggests practical ways to increase happiness. If you read this book, you will be able to find more happiness, satisfaction, and meaning in your life.

12. The 5 AM Club by Robin Sharma

This book explains how beneficial and powerful it is to wake up at 5 AM, and tells how to practice it. The author explains how waking up at 5 AM affects our productivity, creativity, health, happiness, and success, and provides motivation and strategies to wake up at 5 AM. He also introduces the activities that should be done after waking up at 5 AM, and helps us improve the quality of our lives through them. If you read this book, you will be able to bring more energy, passion, and purpose to your life.

This concludes my recommendation of 12 self-development books that you should read in 2024. These books are all books that can bring positive changes to your life. I hope you read the books that interest you, and apply them to your life. 

If you are interested in this book, you can buy it from Amazon through the links above. These are advertisement links that I provide as an Amazon associate, and I will receive a small commission if you buy through the links. You do not need to pay any extra cost for this. My recommendation of these books are my personal opinion and I have no special relationship with Amazon. Thank you.

How Much Do I Need to Retire? - A Smart Financial Plan for Retirement

Are you wondering how much money you need to retire comfortably and stress-free? 

If so, you might want to read this book: 

<How Much Do I Need to Retire?: Uncommon Financial Planning Wisdom for a Stress-Free Retirement> 

by Todd Tresidder, a former hedge fund manager and a financial coach. 

In this book, he shares his insights and methods on how to plan for retirement in a realistic and flexible way.

Why retirement planning is not a simple question

Many people think that retirement planning is just a matter of multiplying their annual expenses by a certain number and saving that amount. However, this book shows that this approach is too simplistic and risky. The author explains that there are many factors and uncertainties that can affect your retirement income and expenses, such as:

- Your life expectancy

- The inflation rate

- The return on your investments

- The tax rate

- The health care costs

- The lifestyle changes

These factors can vary widely and unpredictably, making it hard to estimate how much money you need to retire with confidence.

How to choose the best retirement planning model

Instead of relying on a single formula or rule of thumb, the author introduces three different models of retirement planning and evaluates their pros and cons. He also suggests which model is best suited for different situations and goals. The three models are:

- The traditional retirement planning model. 

This is the most common model that uses an asset-based approach. It assumes that you need to save a large lump sum of money and withdraw a fixed percentage of it every year. However, the author criticizes this model for being too rigid and vulnerable to various risks.

- The creative lifestyle planning model. 

This is a more flexible and personalized model that considers more than just assets. It focuses on predicting your expenses rather than your income in retirement. The author praises this model for allowing you to customize your plan according to your preferences and assumptions.

- The cash flow planning model. 

This is the most recommended model by the author. It explores ways to create a steady and reliable income stream in retirement that can cover your expenses and adjust to inflation. This model reduces the need to save a huge amount of money and lowers the risk of running out of money.

How to apply the retirement planning models

This book provides a logical and in-depth analysis of retirement planning. The author explains how to understand and apply the three models of retirement planning, and how to calculate and optimize your numbers. He also provides examples, worksheets, and online tools to help you create your own plan. This book gave me a new perspective and method on retirement planning. I recommend you to read this book and create a smart financial plan for your retirement. 

If you are interested in this book, you can buy it from Amazon through this link. This is an advertisement link that I provide as an Amazon associate, and I will receive a small commission if you buy through this link. You do not need to pay any extra cost for this. My recommendation of this book is my personal opinion and I have no special relationship with Amazon. Thank you.