“The market is a device for transferring money from the impatient to the patient.” — Warren Buffett. JL Collins just shows you how to be one of the patient ones.
1. Spend Less Than You Earn. Invest the Rest.
This is the golden rule. Everything else is bonus. Live below your means, save aggressively, and invest what’s left — preferably in a simple, boring, massively effective index fund.
Your income is your most powerful wealth-building tool.
Avoid lifestyle inflation like it’s a scam (because it kinda is).
The more you save, the sooner you’re free.
2. Avoid Debt Like It’s On Fire
Debt is financial quicksand. JL doesn’t sugarcoat it: if you’re in debt, your #1 priority is getting the hell out.
Credit cards? Toxic.
Car loans? Nope.
Mortgages? Only if you understand the tradeoffs.
3. The Stock Market Works — If You Let It
You don’t need to beat the market. You just need to ride it. Over time, the market goes up. Your job? Don’t get in your own way.
Don’t time it.
Don’t pick stocks.
Don’t panic during crashes.
4. Buy VTSAX and Chill
JL’s battle cry: “VTSAX and relax.” The Vanguard Total Stock Market Index Fund gives you exposure to the entire US economy in one simple, low-fee fund.
Low cost → higher returns.
Broad diversification → less risk.
Time in the market > timing the market.
5. The “F-You Money” Principle
Money isn’t just about buying stuff. It’s about freedom. “F-You Money” means you can walk away from a toxic job, a bad boss, or a bad life path — no apologies needed.
Autonomy > luxury.
Financial independence is the ultimate flex.
6. Wall Street Wants Your Money. Don’t Give It to Them.
The financial industry sells complexity because complexity justifies fees. JL’s advice? Stay away from advisors who charge you to do worse than an index fund.
Most pros underperform the market.
Fees compound — and not in a good way.
You can do this yourself.
7. Fear and Greed Are the Real Enemies
Markets rise and fall. Your emotions don’t have to. Learning to stay calm when others panic is a superpower.
Don’t watch CNBC.
Don’t check your portfolio daily.
Do nothing when others are losing their minds.
8. Wealth Is Simpler Than You Think
JL’s whole philosophy is built around simplicity. You don’t need 12 accounts, 6 apps, and a crypto wallet. You need clarity, discipline, and a low-fee index fund.
Simple beats clever.
Consistency beats brilliance.
You already have everything you need to start.
So what?
The Simple Path to Wealth is a love letter to financial independence — written in plain English, without fluff. JL Collins doesn’t want to impress you. He wants to free you. And spoiler: it’s not about getting rich. It’s about never having to worry about money again.