Summary of J.L. Collins's The Simple Path to Wealth

By IRB Media

Get the Summary of J.L. Collins's The Simple Path to Wealth in 20 minutes. Please note: This is a summary & not the original book. Original book introduction: This book grew out of a series of letters to my daughter concerning various things-mostly about money and investing-she was not yet quite ready to hear.

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

"But Dad," she once said, "I know money is important. I just don't want to spend my life thinking about it." This was eye-opening. I love this stuff. But most people have better things to do with their precious time. Bridges to build, diseases to cure, treaties to negotiate, mountains to climb, technologies to create, children to teach, businesses to run.

Unfortunately, benign neglect of things financial leaves you open to the charlatans of the financial world. The people who make investing endlessly complex, because if it can be made complex it becomes more profitable for them, more expensive for us, and we are forced into their waiting arms.

• Language: English
• Publisher: IRB Media
• Release date: Apr 4, 2021
• ISBN: 9781638154471

IRB Media

With IRB books, you can get the key takeaways and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.

Book preview

Insights from Chapter 1

#1

Debt has become extremely normalized. However, if you intend to achieve financial freedom, you have to realize that debt is a huge barrier to building wealth.

#2

If you are already in debt, paying it off should be your top priority. This will require you to drastically adjust your lifestyle to free up the money you need to direct toward your debt. Once your debts are paid off, consider shifting your money to investments.

Insights from Chapter 2

#1

There are many things money can buy, but the most valuable of all is the freedom to do what you want and to work for someone you respect. Those who live paycheck to paycheck are slaves, and those who carry debt are slaves with even firmer

Reviews for Summary of J.L. Collins's The Simple Path to Wealth

[Liz Cindy · Rating: 5 out of 5 stars]

This is an Excellent summary! concise and understandable. Great Job