I’ve read a lot of books in my day. A large part of childhood was spent with my nose firmly between the pages of one tome or another. I loved how the Hardy Boys and Sherlock Holmes discovered the truths hidden behind deception and clever disguise, and the worlds where magic and sorcery were more powerful than science.
Whenever my mind grabbed hold of a new interest, it was the library that enabled me to share the experience and knowledge of my elders and superiors. Through books I learned about the brave adventurers who explored our planet and those nearby, the inventors who pioneered new industries and created the futuristic world of today, and how there is nothing more powerful than an idea whose time has come.
So it is no surprise that when I first started to think about investing and early retirement, I returned to the library. I’ve read hundreds of books on topics as broad as personal finances, taxes, stocks, bonds, stock options, clever real estate investing, and more.
Why then is my list of recommended books so short?
In finance writing and industry, complexity is preferred to simplicity. Deception and disguise are the norm (small print anyone?) The only magic is the sleight of hand directing us into the embrace of an expensive financial advisor under the guise of education.
And perhaps most egregious of all crimes, the writing is terribly dull. I almost want to pay a high priced charlatan just to make the boring books go away.
So it is no small thing when I say that JL Collins has delivered a book that I will happily be gifting to friends and family for years to come.
The Simple Path to Wealth is a quick and joyful read that leaves complexity at the wayside, explaining the process of investing and wealth building in a way that is both simple and easy to implement. If you’ve read JL Collins’ Stock Series, much of The Simple Path to Wealth will seem familiar, if not more refined.
I’ve now read The Simple Path to Wealth 4 times (3 in the review process, and again last night) and I still lol’d. That JL Collins is a clever chap.
Who else would compare buying stocks to pouring beer, offer the psychological boost of “Toughen up, cupcake”, and prove that his way works by showing you how he did it all wrong?
But my favorite part is that I now have an easy answer to the common questions:
“How do I get started with investing?”
“I know I need to invest, but I’m not sure how to get started.”
“Is there a book you would recommend that can help us invest in a way to create a Go Curry Cracker lifestyle?”
If you are asking similar questions, or if you are looking for an elegant guide to investing and wealth building, The Simple Path to Wealth would be a lovely addition to your library. Had this book been available 15 years ago, it would have certainly accelerated our own path to a rich, free life.
Thanks for telling us about the financial App, Personal Capital. It is very useful to track expenses and investments.
Glad you like it! It has been great for tracking our expenses and investments as well, I use it often.
I enjoyed reading The Simple Path to Wealth and will recommend it to friends and family. Nice review, Jeremy. Where are you guys at these days?
Today we are in Venice, Italy. It’s nice.
Awesome! Looking forward to hearing more of your travels.
Wow, what a great picture! So beautiful there! Unfortunately, we didn’t make it to Venice while we were in Italy, but it’s a place we’ll look forward to visiting in the future.
I certainly was “embraced” (bear hugged??) by an expensive financial advisor under the guise of education when I was 22 and started my teaching career. I was intelligent and excited about my first “real job” and believed others were there to help me. Then it was “auto-pilot” for almost 20 years until I found folks like you and JL explaining how easy it was to do the investing on our own. If I had this 15 years ago, I would have FI’d 5 years ago (or earlier) – not just last month! This will be a go to gift too (I reviewed the book for Jim as well.)
I too had an expensive financial advisor. I learned a lot, including why I don’t want to use a financial advisor.
Congrats on reaching FI!
Thanks! Long time follower of yours – just starting to feel like I have things to share!
I would like to give this book to a friend who does not live in the US. Would you recommend it for non-US investors? Thank you!
Much of it is US focused, but the philosophy and psychology are universal. There is also a chapter specifically for non-US investors.
Thank you for the review. Look forward to reading this book!
Have you read “a random walk down wall st”? If so, would you recommend it?
I’ve read it, but so long ago that I don’t really remember the details.
This is like the 4th blog I read that’s recommended this book in the past couple days. Either it’s a fantastic book, or it has a powerful marketing plan!
That said, Mr. Collins comes across as a pretty decent guy, so I’d guess it’s pretty good!
If a good book has no marketing plan and thus nobody reads it, is it still a good book? #deepthoughts
If only people would move as slowly as a heavy beer drinker when they are trying to sell their stocks. There’s something that would help the average investor!
Forgetting your brokerage account password is a good start.
I am just now delving into the world of reading financial books. I just finished YMOYL and The millionaire next door. Although I found then a little dull, there are certainly some useful and interesting nuggets. I am looking forward to reading Mr. Collins book, his stock series really de-mystified investing for me. Thanks for the review.
Both of those books are boring, although YMOYL is a good foundation for how to think about money. Millionaire next door could have been written in 1/10 as many pages.
Totally agree. I don’t regret spending the time reading them though.
Nor do I. They also helped with my insomnia.
Maybe that is why I’ve been sleeping better :)
Is this a good book for someone well on their way to financial independence, or more of a starter guide for Average Joe?
There is something for all phases of the financial (and mental) journey.
Jeremy,
This book sounds like a good one for someone who is getting started in learning about investments.
However, I would have personally been better off if I the GCC blog existed when I was starting out in 2007 – 2008. I could have saved tens of thousands of dollars in taxes, which could have compounded for me and I would have been much better off as a result.
Have you thought about writing a book?
DGI
I am writing a book. But I’ve been on page 1 for at least a year… so it will be a (long) while.
Winnie’s book should be published this fall, but it will be in Chinese and sold in Mandarin speaking countries only, I think.
One of my great childhood dreams has been to write a book and see it make the GCC list of recommended books. Now I can die a happy man!
Great post. Not that I’m biased or anything…
Now, if only I could get Mr. Tako to read and review it…. ;)
It is a level of prestige few ever experience ;)
Thanks for the review. I’ll order this book from Amazon.
A fellow boglehead here. We started investing in index funds about 5 years ago, follow the boglehead philosophy and are already half way to the two comma club. I just wish I had found out earlier in life.
Well done you two and keep up the good work with your blog. :)
This book looks fantastic! I am a Boglehead and a teacher and just FINALLY got my school district to offer index funds to us through Fidelity. We tried for Vanguard but had some snags.
Love this site!
Congrats on influencing your school district!
I will take a look at the book. My simple path to wealth is to keep being frugal while maintaining the quality of life. We just reached $200K mark!
Congrats on being in Italy. The picture looks amazing!
Congrats on hitting $200k! They say the first 200k is the hardest :)
Nice review of an awesome book written by a brilliant guy. Keep up the great work!
Thanks Doc