JL Collins: The Art of Buying Freedom, Not Things!

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Join us as JL Collins, the acclaimed author of "The Simple Path to Wealth," dives deep into the philosophy that underpins the Financial Independence Retire Early (FIRE) movement. Unpacking the societal pressures to spend and the allure of materialism, Collins offers an alternative roadmap to true wealth and happiness through smart investing and prioritizing financial freedom over luxury possessions. This video isn’t just about money management; it’s about reshaping your life’s priorities to find genuine satisfaction and independence. Whether you're new to the FIRE movement or seeking deeper insights, JL Collins' wisdom will guide you towards a richer, more fulfilling life beyond the consumerist cycle.
Want to learn more about the FIRE movement and how you can achieve financial independence? Watch the documentary Playing with FIRE today!
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Check out the book Playing with FIRE, based on the documentary:
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Or listen on Audible:
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Find more of JL's work here:
👩‍💻jlcollinsnh.com/
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Website: www.playingwithfire.co/
Thanks for watching!
*Links above include affiliate commission or referrals. Sometimes I receive compensation from partnering websites, products and services at no cost to you. Thank you for your support! The video is accurate as of the posting date but may not be accurate in the future. DISCLAIMER: I am not a financial adviser. These videos are for educational and entertainment purposes only. I am sharing what I've learned in an effort to inspire you. Please seek professional help when needed.

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Опубликовано:

1 апр 2024

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Комментарии : 130

@wendyorides8337 2 месяца назад

I need to watch this everyday, to counter the daily marketing attacks.

@PlayingwithFIREco 2 месяца назад

I approve this message. 🙌

@jeaniemarquette5101 2 месяца назад

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.

@id10t98 Месяц назад

I haven't owned a TV since 2009 and don't miss it.

@tonysilke Месяц назад

So how exactly can we guard against the coming financial reset for 2024? Like what are really the best strategies to make our portfolio recession proof against the incoming financial reset? I'm very worried about my $110k stock portfolio.

@Dannyholt33 Месяц назад

Knowledgeable Investors know where and how to put money during a crisis in order to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage these market conditions.

@PatrickLloyd- Месяц назад

I agree, having the right plan is priceless. My portfolio is well-suited for any market and recently doubled since early last year. My CFP and I are aiming for a seven-figure goal, which might take another year to achieve.b

@PhilipDunk Месяц назад

Great gains! Can you share your CFP details? I'm gaining more cash flow from my job and want to invest in stocks and alternative assets to build wealth.

@PatrickLloyd- Месяц назад

'Amber Dawn Brummit' is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.

@PhilipDunk Месяц назад

Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.

@nynick716 2 месяца назад

Needed this 20 years ago... Better late than never

@PlayingwithFIREco 2 месяца назад

Same here!

@tombkk1322 2 месяца назад

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.

@FinancialSelfReliance 2 месяца назад

Consumerism is the killer of wealth. Turning income to wealth requires frugal living and disciplined spending.

@PlayingwithFIREco 2 месяца назад

🙌

@tombkk1322 2 месяца назад

So true

@goonerinSP 2 месяца назад

What do I invest in? I can't afford to get on the property ladder here in England. The deposit required is too steep.

@tombkk1322 2 месяца назад

@@goonerinSP check into an index fund. I think that would be the best way for you to go.

@alaminm182 Месяц назад

Totally Agree. But i’d hate to wake up wealthy at 80 and never bought this things i wanted young.

@shashankchaudhary6917 2 месяца назад

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.

@moodahs 5 дней назад

I have come to this conclusion as well.

@Luben80 2 месяца назад

The things you own can end up owning you.

@whatsstefon Месяц назад

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.

@tombkk1322 2 месяца назад

JL has such an unassuming likable style. Never pushing his message just relaying the points to a different lifestyle.

@KennethGLee-wf6lw Месяц назад

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.

@rdtradecraft Месяц назад

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.

@fugu4163 2 месяца назад

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.

@EcomCarl 2 месяца назад

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.

@searchersearcher8286 2 месяца назад

Gave up 1 million $ income for 25 years freedom, no regrets

@drr5117 2 месяца назад

I would love to hear that story.

@searchersearcher8286 2 месяца назад

@@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.

@eddieslittlestack7919 2 месяца назад

Makes perfect sense to me! Thanks for sharing.

@Yabadabado1234 2 месяца назад

I also walked away from a $300k a year job at 38 for my freedom. Zero regrets.

@eightsprites 2 месяца назад

That’s really inspirating. I really hope it turns out the same for me when Im 75. Good done!

@imdoc7872 2 месяца назад

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.

@thetakeaway7825 2 месяца назад

💯 Until we are old enough to think clearly for ourselves. We need to stop marketing to children. It creates a toxic sense of self. ❤

@varmastiko2908 Месяц назад

But most of us will never be old enough to think for ourselves - let alone clearly.

@Fanotesemara 2 месяца назад

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 🇺🇸

@cardesigner 2 месяца назад

Totally agree. There are various levels of FIRE; lean fire, fat fire, barista fire etc. all cater to different mindsets while sharing the goal of independence.

@farmoboy83 2 месяца назад

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.

@searchersearcher8286 Месяц назад

Learning years ,Earning years, Leisure years

@kaoticmind09 2 месяца назад

What's worse than the daily marketing is your peer/family/neighbor pressure.

@michalbednarek6233 2 месяца назад

Very smart talk and very truth. Buying freedom is top tier achivement in life.

@Joethebro101 2 месяца назад

What a great video! Thank you!

@auintogold4725 2 месяца назад

Happiness is following your passion in life, with passion money will follow, the rest is easy!

@GruncleJohn 2 месяца назад

Already read his book. Need to read his book every year. Also his video at Google Talks.

@Backtoreality1873 2 месяца назад

Great perspective thank you 🙏

@PlayingwithFIREco 2 месяца назад

Glad you enjoyed it!

@GerardoDelValle. 2 месяца назад

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!!

@patty109109 2 месяца назад

Nobody really believes you retired at 27

@GerardoDelValle. 2 месяца назад

@@patty109109 ok

@corbetcheung2919 2 месяца назад

How ？ at 27 ?😂

@bobbyjames4300 Месяц назад

I think he meant 17 .

@RedLegPiper 4 дня назад

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.

@rjo8500 2 месяца назад

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!

@patty109109 2 месяца назад

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.

@tyrecarmon20 2 месяца назад

The legend

@0H9D 2 месяца назад

If he had one in his hand I would say, “Drop the mic!!!!!!!”💜

@saz6511 2 месяца назад

I've just finished reading his book, highly recommend!

@hegemondtm 2 месяца назад

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.

@sakacocox267 2 месяца назад

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

@VictorMartinsPT 2 месяца назад

Thank you ❤🙏❤

@mdp4721 Месяц назад

Brilliant non-judgmental insights....

@heldergomes8074 2 месяца назад

You're my hero

@Newlinjim 2 месяца назад

“I freed a thousand slaves…I could have freed a thousand more if only they knew they were slaves”.

@matthewlapish1107 Месяц назад

-Harriet Tubman. Deep comment.

@vijayaragavan440891 Месяц назад

Great great great video. thanks

@id10t98 Месяц назад

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.

@Encourageable Месяц назад

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).

@sgchiquita Месяц назад

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.

@jovna5315 Месяц назад

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.

@RedLegPiper 4 дня назад

It's about BOTH. A balance with Both.

@venuswealth6 Месяц назад

I am on obsessed path to FI now. He is one of greatest teachers I really admire when it comes to investing & FI.

@id10t98 Месяц назад

Double a penny every day for 30 days and you'll have $5.3+ MILLION! GLTY!!!

@dalila.fakhri 2 месяца назад

Very true

@BrokeMillionaire1 2 месяца назад

🐐

@thomasarbec7242 2 месяца назад

I’ve never been influenced by consumerism!

@GeetGaataHoonMain Месяц назад

Delay the gratification with strong will and patience to activate power of compounding. Buy freedom with assets and not things...

@georgeginel8932 Месяц назад

Respect

@jsan48 Месяц назад

Just know you’re not taking anything when you die including your freedom.

@vivveene1675 2 месяца назад

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?

@venkatiyengar7110 2 месяца назад

What do you do?

@longwhitecloudkiwi 2 месяца назад

There is no right or wrong. Each individual decides what’s right and wrong, making a definite right and wrong for any subject nonexistent

@BUDS228 2 месяца назад

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.

@tombkk1322 2 месяца назад

It’s an addiction like anything else. Difficult to change.

@no_goo 2 месяца назад

Just don’t buy 60k of Ford stock. You’ll get more for your money from the truck.

@Dividenddream 2 месяца назад

@@no_goo😂

@bright2915 Месяц назад

VTSAX is good, but I think VOO will serve most people better.

@Dmack74 2 месяца назад

What make me happy is seeing my bank account getting bigger.

@vladioan3078 Месяц назад

It’s funny how you are all stuck on your phone watching RU-vid but so free 😂

@ivivivir 2 месяца назад

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...

@ln5747 Месяц назад

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.

@osu122975 Месяц назад

Financial freedom is what I am working toward but at the same time if money isn't spent, how well do our investments do? We rely on, in a sense, individuals who spend beyond their means. Also, if a majority were FIRE, where is your workforce? Can't make $ on investments without a substantial portion of your population working. In a sense, depending on circumstances, its a bit of a catch 22.

@lukeben1596 Месяц назад

If you don't find a means of multiplying your money, you will wake up one day and realize that the money you thought you had, had been exhausted. Investment is a ladder to climb the financial wall.

@RedLegPiper 4 дня назад

Just don't retire and withdraw during a market crash. You will be going back to work.

@AurelioPita 2 месяца назад

Music is distracting. No need to add music.

@byorce Месяц назад

lol this is literally the most quiet music in a YT video

@deanpapadopoulos3314 21 день назад

👍👍👍👍👍

@user-cj1ce6vy9r Месяц назад

I totally agree, not having to work is one of the best things in the world! F U money is also a good thing!

@Rahjiggyblah 2 месяца назад

Background music

@GODandGOVERNMENT 2 месяца назад

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.

@JohnColorado3811 Месяц назад

I don't trust financial institutions.

@deanodog3667 Месяц назад

Its all just stuff !!

@Bigboss-xe6lm 2 месяца назад

Great talk. But stop the damn jazz music, sounds horrible. No music is better, right?

@RedLegPiper 4 дня назад

#1 key to financial freedom.....dont have children and marry a spouse on the same vision or dont get married at all. Stay single.

@joeytrust4393 2 месяца назад

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!

@ln5747 Месяц назад

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.

@RedLegPiper 4 дня назад

Do both.

@omensix 2 месяца назад

I want to be free so bad

@4835SM 2 месяца назад

LOL

@matthewlapish1107 Месяц назад

My wife left me 5 years ago. Instead of fixing everything she broke, cleaning all her mess, having to hear her speak. I now just pay child support. It’s a lot cheaper than to keep her and a lot less headache.

@jackmidst8304 2 месяца назад

Yeah Right. I’m gonna take advice from some guy who’re wearing a plaid shirt……..

@tombkk1322 2 месяца назад

I don’t understand your comment. He’s always wearing a plaid shirt.

@patty109109 2 месяца назад

Plaid shirt = final boss

@tombkk1322 2 месяца назад

@@patty109109 don’t understand that comment either

@jeaniemarquette5101 2 месяца назад

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.

@symbioticape Месяц назад

Useless advice for 2024

@cardesigner 2 месяца назад

Left a career at a woke auto maker making a healthy six figure income after accumulating a seven figure net worth. Took an early retirement buyout at age 39 and am a stay at home dad to small kids. Traded literally millions of dollars of income over the next 20 years, not to mention what investments with that money could earn… and I couldn’t be happier.

@patty109109 2 месяца назад

“Woke auto maker”. You sound very childish when you say things like this.

@ln5747 Месяц назад

@@patty109109 haha you're absolutely seething and triggered because someone doesn't agree with your 🌈 and green ideology - who is the childish one 😂