I read a book called "The Year of Less." It was a personal growth and financial independence story all rolled into one, but the whole point was someone made a decision to put freedom of life over credit card debt and restrictive obligations. She chose to not buy anything at all other than absolutely necessary for the term of a year, and that allowed her to pay down her debt and have money for travel. It comes down to choices and deciding to choose what is more important in the grand scheme of things rather than the immediate moment of gratification.
People don't realise but as a seasoned finance professional I can tell u he is the only few people worth listening to amidst all those garbage investment gurus.
I always reinvest my money into stocks or financial funds rather than spending them on stuff i dont need. While others are spending their money i rather think of it like cultivating my money.
We used to hunt for food, build our homes, make our things...life was simple..now we need to get educated, waste time at school , and eventually hunt for money.
That’s because people living outside their means. This means they buy things on credit, with loans. Cars, houses. Etc. they’re too busy keeping up appearances and keeping up with their friends and neighbours.
It's refreshing to see the Financial Independence community challenging the societal norm of equating spending with happiness. 💸 Investing in freedom and choice through financial independence is truly empowering and offers a more fulfilling path to long-term satisfaction.
I agree but there is also the question of enjoying things at the appropriate time in your life. Remember, we don’t have a lot of time. I have a rather balanced view of this approach. Get a good education, work reasonably hard, and enjoy the fruit of your labor in this great USA 🇺🇸
agree, for example i love riding motorbikes but i dont need an expensive 20000eur motorbike to enjoy riding, an old cheap 4000eur one does the same to my soul.
I forget where I heard it, but the following has always stuck with me: The poor spend their money on consumables, save nothing, and will probably retire broke, homeless, and/or cared for by the state. The middle class spends its money on debt, squanders its savings making bankers rich with interest payments, and tends to retire to a vastly downgraded lifestyle, all the while hoping they don't outlive their money. The rich spend their money on things that make them more money, save constantly, and tend to retire young, rich, and envied by the first two groups. Mr. Collins is a living example of the last.
I retired when I was 27 , since then I do what I want. Still make money but doing what I like. Wearing shoes and sneakers 8 years old, not buying a laptop, changing my phone every 4 years, driving my trustful old car, if I ever buy anything it's a fruit tree for 3 bucks. No snacking ..Man Freedom is something!!
8 year old shoes? Bruh be either getting pushed around everywhere in a wheel chair or You HAVE to be single because your woman be with Chad with that stank raptor feet.
My wife and I are sharing a 2015 Nissan we bought used in 2017. It has 147,000 miles on it (thankfully our son is a mechanic) and it’s still going strong. Have you seen the current prices on vehicles and auto loan payments??? No thanks!
Spending money on Freedom! Everyone around is consumering a lot! if you stay away you are already distinguished you bought your freedom. Nothing more important than buying your FREEDOM!! I am okay to live in a neighbour where no crimes happening. I dont want to live next door with billionaire, to hustle like them and earn a lot. All I need is freedom, then work on things I want to work on and dont burn my ass in the process
This hit home hard! I bought a BMW convertible...that was 20 years old, in great condition and only paid $2000 for it! My time is more valuable than working for people who don't care if I live or die.
I’ve known people that scrimp and save their whole life - and then they get old and can’t enjoy it. They have 10x what they need and it just sits there collecting dust (so to speak).
I have also seen people that spend all of their money, and suddenly they get old and don’t have savings of any kind. Those are the people that end up eating cat food and can’t enjoy their retirement.
Instead of buying that $60,000.00 Ford F150 buy $60,000.00 worth of VTSAX. Boom, you’re now a tiny owner of the Ford Motor Company (amongst 3000 other companies) and receiving the Dividends from all the consumer suckas buying the ridiculously overpriced pickup trucks.
Capitalism is not about consuming. It is about working, saving and investing (Austrian school of economics). First time I visited the States, which I like because of many things, I was absolutely amazed by the too many 'things' (and size of them) an US home has inside/around... The ground floor/garage of family houses looked like a car repair center... Though no real repairs occurred there... 😅 (maybe in Gran Torino movie but Clint was a man of other age). On the other side, I was surprised of the low quality of the walls (some kind of polymer) and structural materials (light wood) of houses costing 600k USD... Houses that can blow up with some strong wind...
Oversimplified? The "idea" of investing is empirical because it's an idea. A mental electrical "thought". Achievement from investing itself though is different. Because not all investment vehicles succeed at all times. So "investing success" is not a guarantee like an "idea". Dopamine success achievements are virtually guaranteed. That's partially why consumerism is so rampant/popular. Dopamine is a "guarantee" even if it's only temporary. Even the best investors don't live a "success guranteed" life. There are simply too many variables like health, diet, continuing Ed, spiritual beliefs, money beliefs, level of financial responsibility exposure, DNA inherited components etc. Oversimplification in this short clip can be just as damaging as clever advertising because in a way, that's what this short clip actually does.
This idea of a frugal life until you can retire comfortably seems dehumanizing. What kind of life is one where you’re “free,” but only as a senior? We spend our prime working only to spend our retirement years tending to our health. I say topple the system!
Well work more and for longer then and have more stuff in the short term. It seems you want to topple some system that will create a utopia of instant stuff without the work and sacrifice.
Part of the reason the rich are that way is they don't spend money putting on an image of saying im rich by doing such things as a ?? thousand dollar suit. They would rather have that kind of money working and growing for them instead of putting forth an image of wealth. Read a book called "The Millionaire Next Door." It expresses that very same concept.
I need to watch this everyday, to counter the daily marketing attacks.
I approve this message. 🙌
I read a book called "The Year of Less." It was a personal growth and financial independence story all rolled into one, but the whole point was someone made a decision to put freedom of life over credit card debt and restrictive obligations. She chose to not buy anything at all other than absolutely necessary for the term of a year, and that allowed her to pay down her debt and have money for travel. It comes down to choices and deciding to choose what is more important in the grand scheme of things rather than the immediate moment of gratification.
I haven't owned a TV since 2009 and don't miss it.
JL has such an unassuming likable style. Never pushing his message just relaying the points to a different lifestyle.
Needed this 20 years ago... Better late than never
Same here!
I completely agree but better late than never. I didn’t get this message until 61 and 65 now. Hopefully I’ll hit 7 figures by 68 or 70.
Right up there with freedom is your health. Pay attention to your body. Freedom and good health should be the goal.
Consumerism is the killer of wealth. Turning income to wealth requires frugal living and disciplined spending.
🙌
So true
What do I invest in? I can't afford to get on the property ladder here in England. The deposit required is too steep.
@@goonerinSP check into an index fund. I think that would be the best way for you to go.
Totally Agree. But i’d hate to wake up wealthy at 80 and never bought this things i wanted young.
People don't realise but as a seasoned finance professional I can tell u he is the only few people worth listening to amidst all those garbage investment gurus.
I have come to this conclusion as well.
I always reinvest my money into stocks or financial funds rather than spending them on stuff i dont need.
While others are spending their money i rather think of it like cultivating my money.
We used to hunt for food, build our homes, make our things...life was simple..now we need to get educated, waste time at school , and eventually hunt for money.
The things you own can end up owning you.
That’s because people living outside their means. This means they buy things on credit, with loans. Cars, houses. Etc. they’re too busy keeping up appearances and keeping up with their friends and neighbours.
There is no material possession more precious than your freedom. I became financially free last year. Now I only work when I need or want to.
Already read his book. Need to read his book every year. Also his video at Google Talks.
It's refreshing to see the Financial Independence community challenging the societal norm of equating spending with happiness. 💸 Investing in freedom and choice through financial independence is truly empowering and offers a more fulfilling path to long-term satisfaction.
I agree but there is also the question of enjoying things at the appropriate time in your life. Remember, we don’t have a lot of time. I have a rather balanced view of this approach. Get a good education, work reasonably hard, and enjoy the fruit of your labor in this great USA 🇺🇸
agree, for example i love riding motorbikes but i dont need an expensive 20000eur motorbike to enjoy riding, an old cheap 4000eur one does the same to my soul.
Learning years ,Earning years, Leisure years
I've just finished reading his book, highly recommend!
Great perspective thank you 🙏
Glad you enjoyed it!
Gave up 1 million $ income for 25 years freedom, no regrets
I would love to hear that story.
@@drr5117 By retiring at age 50 instead of 65 I gave up 15 years 70k income, but gained my freedom. Now age 75 and thriving.
Makes perfect sense to me! Thanks for sharing.
I also walked away from a $300k a year job at 38 for my freedom. Zero regrets.
That’s really inspirating. I really hope it turns out the same for me when Im 75. Good done!
Very smart talk and very truth. Buying freedom is top tier achivement in life.
I forget where I heard it, but the following has always stuck with me: The poor spend their money on consumables, save nothing, and will probably retire broke, homeless, and/or cared for by the state. The middle class spends its money on debt, squanders its savings making bankers rich with interest payments, and tends to retire to a vastly downgraded lifestyle, all the while hoping they don't outlive their money. The rich spend their money on things that make them more money, save constantly, and tend to retire young, rich, and envied by the first two groups. Mr. Collins is a living example of the last.
I am on obsessed path to FI now. He is one of greatest teachers I really admire when it comes to investing & FI.
Double a penny every day for 30 days and you'll have $5.3+ MILLION! GLTY!!!
💯 Until we are old enough to think clearly for ourselves. We need to stop marketing to children. It creates a toxic sense of self. ❤
But most of us will never be old enough to think for ourselves - let alone clearly.
He is speaking the truth 😮😢😊
I retired when I was 27 , since then I do what I want. Still make money but doing what I like. Wearing shoes and sneakers 8 years old, not buying a laptop, changing my phone every 4 years, driving my trustful old car, if I ever buy anything it's a fruit tree for 3 bucks. No snacking ..Man Freedom is something!!
Nobody really believes you retired at 27
@@patty109109 ok
How ？ at 27 ?😂
I think he meant 17 .
8 year old shoes? Bruh be either getting pushed around everywhere in a wheel chair or You HAVE to be single because your woman be with Chad with that stank raptor feet.
My wife and I are sharing a 2015 Nissan we bought used in 2017. It has 147,000 miles on it (thankfully our son is a mechanic) and it’s still going strong. Have you seen the current prices on vehicles and auto loan payments??? No thanks!
I literally have payments on three new cars 😂 getting rid of one soon. We do invest a lot but I let this get away from me.
What's worse than the daily marketing is your peer/family/neighbor pressure.
The legend
Spending money on Freedom! Everyone around is consumering a lot! if you stay away you are already distinguished you bought your freedom.
Nothing more important than buying your FREEDOM!!
I am okay to live in a neighbour where no crimes happening. I dont want to live next door with billionaire, to hustle like them and earn a lot. All I need is freedom, then work on things I want to work on and dont burn my ass in the process
I started my FIRe journey after listening to JL Collins talk at Google. He's made my life and others who read his blog/book much better.
What a great video! Thank you!
This hit home hard! I bought a BMW convertible...that was 20 years old, in great condition and only paid $2000 for it! My time is more valuable than working for people who don't care if I live or die.
Brilliant non-judgmental insights....
Great great great video. thanks
Delay the gratification with strong will and patience to activate power of compounding. Buy freedom with assets and not things...
Listening to this guy, reminds me that I need to speak much slower and enunciate better lol Good video JL!
If he had one in his hand I would say, “Drop the mic!!!!!!!”💜
I’ve never been influenced by consumerism!
Thank you ❤🙏❤
You're my hero
I am 50 and have decided not to own a car or a house nor live a 9 to 5 life. Am I wrong for having this mindset?
There is no right or wrong. Each individual decides what’s right and wrong, making a definite right and wrong for any subject nonexistent
Respect
Very true
I’ve known people that scrimp and save their whole life - and then they get old and can’t enjoy it. They have 10x what they need and it just sits there collecting dust (so to speak).
I have also seen people that spend all of their money, and suddenly they get old and don’t have savings of any kind. Those are the people that end up eating cat food and can’t enjoy their retirement.
It’s about the freedom that you know have it laying there. I rather have it instead of not having it stressing about money and bills.
It's about BOTH. A balance with Both.
“I freed a thousand slaves…I could have freed a thousand more if only they knew they were slaves”.
#1 key to financial freedom.....dont have children and marry a spouse on the same vision or dont get married at all. Stay single.
Sad life. No purpose. I hope you find someone to make a beautiful family and experience that joy
Instead of buying that $60,000.00 Ford F150 buy $60,000.00 worth of VTSAX. Boom, you’re now a tiny owner of the Ford Motor Company (amongst 3000 other companies) and receiving the Dividends from all the consumer suckas buying the ridiculously overpriced pickup trucks.
It’s an addiction like anything else. Difficult to change.
Just don’t buy 60k of Ford stock. You’ll get more for your money from the truck.
@@no_goo😂
VTSAX is good, but I think VOO will serve most people better.
Capitalism is not about consuming. It is about working, saving and investing (Austrian school of economics). First time I visited the States, which I like because of many things, I was absolutely amazed by the too many 'things' (and size of them) an US home has inside/around... The ground floor/garage of family houses looked like a car repair center... Though no real repairs occurred there... 😅 (maybe in Gran Torino movie but Clint was a man of other age).
On the other side, I was surprised of the low quality of the walls (some kind of polymer) and structural materials (light wood) of houses costing 600k USD... Houses that can blow up with some strong wind...
It's absolutely fine to have a load of stuff if you can afford it, want it and enjoy it. But most can't afford the stuff and the stuff owns them.
Just know you’re not taking anything when you die including your freedom.
I totally agree, not having to work is one of the best things in the world!
F U money is also a good thing!
🐐
Background music
Music is distracting. No need to add music.
lol this is literally the most quiet music in a YT video
What make me happy is seeing my bank account getting bigger.
It’s funny how you are all stuck on your phone watching RUclips but so free 😂
Oversimplified?
The "idea" of investing is empirical because it's an idea. A mental electrical "thought". Achievement from investing itself though is different. Because not all investment vehicles succeed at all times. So "investing success" is not a guarantee like an "idea".
Dopamine success achievements are virtually guaranteed. That's partially why consumerism is so rampant/popular. Dopamine is a "guarantee" even if it's only temporary. Even the best investors don't live a "success guranteed" life. There are simply too many variables like health, diet, continuing Ed, spiritual beliefs, money beliefs, level of financial responsibility exposure, DNA inherited components etc.
Oversimplification in this short clip can be just as damaging as clever advertising because in a way, that's what this short clip actually does.
Its all just stuff !!
Great talk. But stop the damn jazz music, sounds horrible. No music is better, right?
👍👍👍👍👍
I don't trust financial institutions.
This idea of a frugal life until you can retire comfortably seems dehumanizing. What kind of life is one where you’re “free,” but only as a senior? We spend our prime working only to spend our retirement years tending to our health. I say topple the system!
Well work more and for longer then and have more stuff in the short term. It seems you want to topple some system that will create a utopia of instant stuff without the work and sacrifice.
Do both.
LOL
Yeah Right. I’m gonna take advice from some guy who’re wearing a plaid shirt……..
I don’t understand your comment. He’s always wearing a plaid shirt.
Plaid shirt = final boss
@@patty109109 don’t understand that comment either
Part of the reason the rich are that way is they don't spend money putting on an image of saying im rich by doing such things as a ?? thousand dollar suit. They would rather have that kind of money working and growing for them instead of putting forth an image of wealth. Read a book called "The Millionaire Next Door." It expresses that very same concept.
😂 hilarious thread