Author: JL Collins, with a foreword by Mr. Money Mustache Your road map to financial independence and a rich, free life
This book began as a series of letters written to Collins’ daughter about money and investing—topics she wasn’t ready to fully understand yet. Recognizing that money is one of the most powerful tools for navigating life’s complexities, he emphasizes why understanding it is crucial.
At one point, his daughter remarked, “I know money is important, but I don’t want to spend my life thinking about it.” This realization reshaped Collins’ approach. While financial concepts are fascinating to some, many prefer to focus on their passions—building bridges, curing diseases, running businesses—rather than getting caught up in financial intricacies. However, neglecting finances often leaves individuals vulnerable to misleading advice and complex investments designed to profit others at their expense.
In this book, he shares a simple, powerful approach to managing money that is easy to understand and implement. Topics include:
Why debt is dangerous and how to handle it.
The importance of "F-you money" and financial independence.
What the stock market really is, why it goes up, and how to avoid common investing mistakes.
Proven strategies for bull and bear markets.
Specific investments that work and how to simplify retirement accounts like 401(k)s and IRAs.
The phases of investing and how to adjust your asset allocation.
Why complex investments and most advisors should be approached with caution.
Financial independence, the 4% rule, and how to make your money support you.
With real-world examples and actionable advice, this guide demystifies the world of personal finance, empowering readers to confidently take control of their money and build lasting wealth.
