J. L. Collins Quotes

“Advisors are only as good as the investments they recommend.”

“As individuals we only have one obligation to society: To ensure we, and our children, are not a burden to others.”

“Avoid fiscally irresponsible people. Never marry one or otherwise give him or her access to your money.”

“Avoid investment advisors. Too many have only their own interests at heart.

By the time you know enough to pick a good one, you know enough to handle your finances yourself.

It’s your money and no one will care for it better than you.”

“Before you decide to use kicking techniques on the street ask yourself this question: ‘Am I Bruce Lee?’

If the answer is ‘no’ keep your feet on the ground.”

“Before you start trying to pick individual stocks and/or fund managers ask yourself this simple question: 'Am I Warren Buffett?'

If the answer is 'no', keep your feet firmly on the ground with indexing.”

“Being independently wealthy is every bit as much about limiting needs as it is about how much money you have.

It has less to do with how much you earn — high-income earners often go broke while low-income earners get there — than what you value.

Money can buy many things, none of which is more important than your financial independence.”

“Carrying debt is as appealing as being covered with leeches and has much the same effect.

Take out your sharpest knife and start scraping the little bloodsuckers off.”

“Everybody makes money when the market is rising. But what determines whether it will make you wealthy or leave you bleeding on the side of the road is what you do during the times it is collapsing.”

“Governments love a little inflation. They can add money to the system, keep the economy humming and not have to raise taxes or cut spending to do it.

In fact, it is sometimes called 'the hidden tax' because it erodes the buying power of our currency.

It also allows debtors, like the government, to pay back their creditors with 'cheaper dollars'.”

“Here’s an important truth: Complex investments exist only to profit those who create and sell them.

Further, not only are they more costly to the investor, they are less effective.”

“I may not have owned a Mercedes, but I owned my freedom. Freedom to choose when to leave a job and freedom from worry when the choice wasn’t mine.”

“If you intend to achieve financial freedom, you are going to have to think differently. It starts by recognizing that debt should not be considered normal.

It should be recognized as the vicious, pernicious destroyer of wealth-building potential it truly is. It has no place in your financial life.”

“If your goal is financial independence, it is also to hold as little debt as possible.

This means you’ll seek the least house to meet your needs rather than the most house you can technically afford.”

“If your interest rate is less than 3%, pay it off slowly and route the money to your investments instead.

Between 3-5%, do whatever feels most comfortable: Either put the money to debt payment or investments.

More than 5%, pay it off ASAP.”

“If your lifestyle matches — or god forbid exceeds — your income, you are no more than a gilded slave.”

“In the simplest terms: When you buy stock you are buying a part ownership in a company. When you buy bonds you are loaning money to a company or government agency.”

“Ironically, a crash at the beginning of your investing life is a gift. In fact, any pullback in stock prices is a gift while you are in the process of accumulating your wealth.”

“It’s a big beautiful world out there. Money is a small part of it.

But F-You Money buys you the freedom, resources and time to explore it on your own terms.

Retired or not. Enjoy your journey.”

“It’s not hard. Stop thinking about what your money can buy. Start thinking about what your money can earn.

And then think about what the money it earns can earn.”

“Life choices are not always about the money, but you should always be clear about the financial impact of the choices you make.”

“Look again at those people around you. For most, debt is simply a part of life.

But it doesn’t have to be for you. You weren’t born to be a slave.”

“Money can buy many things, but nothing more valuable than your freedom.”

“Once 4% of your assets can cover your expenses, consider yourself financially independent.

Put another way, financial independence = 25x your annual expenses.

That is, if you are living on $20,000 you have reached financial independence with $500,000 invested.”

“One of my very few regrets is that I spent far too much time worrying about how things might work out.”

“Save a portion of every dollar you earn or that otherwise comes your way.”

“Simple is good. Simple is easier. Simple is more profitable.”

“Since money is the single most powerful tool we have for navigating this complex world we’ve created, understanding it is critical.

If you choose to master it, money becomes a wonderful servant. If you don’t, it will surely master you.”

“Sound investing is not complicated.”

“Spend less than you earn — invest the surplus — avoid debt.

Do simply this and you’ll wind up rich. Not just in money.”