“The Simple Path to Wealth” by John L Collins is an inspiring book to help us become successful in our lives. It’s a simple book and it’s a great guide to take you down that simple path. Collins has come up with a solid plan that can take you from being a broke and frustrated stock exchange trader to a happily married and successful financial planner who’s happy to see you all happy and kicking back in his new home in Beverly Hills. All it takes is for this book to change your life forever. You don’t have to be a financial genius to understand what John Collins is talking about, but I do recommend that you pick up this book.
“The Simple Path to Wealth” is simple and straightforward, and the author shows us the correct way to approach investing so that we can make a killing while investing in the U.S. stock market. Investments in the stock market can either make you a rich one or break you, and this book talks about the importance of understanding the difference between the two. Investors are often confused about which investments will be profitable, and that leads to investors chasing returns that are too high, not realizing that they could have made a much better return had they chosen a different investment strategy. It’s not that there aren’t smart investors out there; in fact, most of the people you run into are really smart and making money. The problem is that many of these smart investors also took their education about investing to the next level and turned into experts on the stock market. The authors explain how to break this habit and turn your dreams of wealth into a reality.
Part one of the simple path to wealth involves learning how to manage your money so that you spend it on what is truly important to you, without getting caught up in the excitement of investing or losing sight of your long-term goals. Investing is simply a tool that you can use to grow your money, and you should never neglect that, but the mistake many people make is to become obsessed with investing and get side-tracked, focusing on short-term gains instead of seeing long-term opportunities. Dave Ramsey’s “DAQ” system and “The Simple Path to Wealth” provides detailed, step-by-step advice on how to use investing wisely to create a sizable, liquid cash flow that allows you to enjoy your life and put your financial growth and happiness first.
Part two of the simple path to wealth looks at creating a personal finance management system using an ETF like Security Exchange Traded Fund (NYSE: ETFS). These funds are designed for investors who are just getting started investing, and they give you a simple way to diversify your investments without paying high fees or commissions on your investment decisions. In addition to using an ETF fund, “The Simple Path to Wealth” also offers a series of free articles that discuss using the equity markets as well as individual stocks to create a comprehensive portfolio. The articles also include a glossary of financial terms and a glossary of investing terms.
One aspect of investing that many people overlook is insurance and pension funding. Both of these areas are extremely important to long-term success, and they are often neglected by the average investor. IRA’s and pension plans have a multitude of rules and regulations that must be followed, and most of these rules have a standard cost that must be incurred by the investor. An ETF makes it easy to invest in these types of plans, since you don’t have to buy a security or open a brokerage account. The simplicity of an ETF makes it easy to learn about investing and its pros and cons.
Another item on the simple path to wealth is real estate investing. It is imperative to learn all of the laws and regulations surrounding this type of investing. Timing is everything when it comes to making money from real estate, so it is crucial to learn how to properly time the market. If you take the time to learn about investing in properties, then you can set up a portfolio that will see you have a steady flow of income from it for many years to come.
A final item on the simple path to wealth is a change in lifestyle. Many people are just working their way up, but if you want to see a significant amount of wealth accumulation then a lifestyle change is necessary. It doesn’t necessarily mean buying a new car or taking a luxurious vacation, but you need to find a way to live a more affordable lifestyle and reduce spending to save money for retirement. You may want to consult with a financial advisor who can assist you in creating a savings plan and creating a budget that works for you.
These are just three of the items on the simple path to wealth. There are plenty of other factors involved such as taxes, networking opportunities, etc. If you take the time to learn how to properly invest your money and learn about personal finance and international stocks, then you are well on your way to creating an impressive financial portfolio. You should also be able to make some sound investments that will help you reach your goals.