The financial clarity and courage you need to break free from the system — in just five minutes a week. From the Godfather of FIRE: simple investing for financial independence.
Share
It's (almost) never too late to start building your F-You Money
Published 4 months ago • 4 min read
The Simple Path to Wealth
Your roadmap to a rich, free life — in just five minutes per week.
September 30, 2025 “Twenty years from now you will be more disappointed by the things that you didn’t do than by the ones you did do.” —Mark Twain
THE SIMPLE NUMBERS
A survey by Empower this summer found that on average, Americans think they should start saving for retirement at age 27. That might reflect some generational shifts: a report last year from The Transamerica Institute found that on average, Baby Boomers say they began to save for retirement at age 35. Gen Xers started at 30. Millennials began at 25, while Gen Zers had them beat at 20. In other words, the kids are alright. The sooner you start investing, the sooner you can start to take advantage of compound interest and build up the capital to buy your freedom.
But if you're starting late, all is not lost. It also matters how much you save in a given year, and it's not hard to get ahead of the pack. Per (yet another) study from Ramsey Solutions, young adults age 25 to 34 are saving just 6.7% of their earnings. It only ticks up to 8.9% for ages 55 to 64. To truly pursue The Simple Path, you should aim to save and invest 50% of what you earn.
SIMPLE PATH OF THE DAY
A slice of timeless wisdom from The Simple Path to Wealth: "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."
ASK JL
Q: I just turned 55. I've been a homemaker since 1999. I have no retirement. I just started my own business last year and it is growing slowly but steadily. My business only has one debt, for a dump trailer I upgraded to because my utility trailer wasn't able to handle the bigger jobs I was getting. (I own a junk removal business). Vanguard has a steep entry point and I don't want to delay building my wealth any further, so I have started investing with the Robinhood app. Is that not good? I know nothing about investing and in addition to your book, I have Mr. Bogle's book and about 10 other books that I am reading to understand investing and build my financial literacy. But if you could let me know if Robinhood is a good way to start, I would appreciate it. —Audra R. Hi Audra, First, congrats on your business, it and you look awesome! Personally, I wouldn’t use Robinhood. That is more of a platform designed for traders. When you say "Vanguard has a steep entry point," I gather you mean the $3,000 required initial investment amount for VTSAX. No worries, you can just buy VTI instead with any amount you care to start with. VTI is the ETF (exchange-traded fund) version of VTSAX. Same portfolio, even a slightly lower expense ratio. For the mechanics of getting started, just give Vanguard a call and they’ll walk you through it. So will the folks at Fidelity, Schwab and the like. But you’ll have to ask what their total stock market index ETF is called. Congrats on starting your journey! —JL P.S. If any readers are in Anne Arundel County, Maryland and need some help with hauling or junk removal, give Audra's business a shout! Got a money question keeping you up at night? Reply to this email and we'll get it over to JL.
It's always the right time to start!
WHAT WE'RE READING
📚 Back in the tariff madness of April, JL Collins weighed in on his blog with the headline, "Deja vu all over again." When you stay on The Simple Path in uncertain times, you keep yourself in the eye of the storm. (That's the calmest part!) 📚 To boost your savings rate and bring your retirement forward, here's Mr. Money Mustache's advice on how to avoid becoming a "Consumerist Sucka." 📚 And to take spending rates to the extreme: Here's a couple worth $8 million explaining on Ramit Sethi's I Will Teach You to Be Rich podcast how they comparison-shop for strawberries!
THE BIG QUESTION
How old were you when you decided to follow The Simple Path? Did you make your share of money mistakes beforehand? Reply to this email and we'll feature some of your responses in upcoming issues! Last week, we asked how you've learned to enjoy the journey up the mountain to financial freedom. Here are a few of your answers... I love setting little "treat me" goals for financial successes: an extravagant meal out when I finished paying off student loans, a mini-getaway when I paid off all consumer debt, home purchases or upgrades. Celebrating each $50,000 paid off in principal balance on my mortgage. It's a fun way to look forward to something and allows you to be flexible with whatever goals you have. Maybe it's something for each $1,000 or $10,000 you invest. These don't have to be extravagant. Maybe you pick up a new book, a fancy coffee, or a new plant for your garden. Whatever it is, it's important to be diligent in your goals, but life isn't always about hard work. There needs to be room for living and celebrating that hard work, too. —Marian C. In this pursuit, I often look back at how far I’ve come and how much I’ve learned along the way. It’s exciting! It’s kind of like sowing seeds and bringing in the harvest. Patience and persistence eventually pays off. —Jeff F. Oh, the journey is what makes the trip memorable. I believe we can experience several wealth building milestones that will provide great views along the way, but also keep us focused and motivated to keep climbing. You may call it by other names, but I've labeled mine as the following: 1. When an emergency fund later becomes an inconvenience fund. 2. When you contribute up to the employer match (free money). 3. When you have multiple sources of income: interest, dividends, second job, rentals, etc. 4. When you max out your IRS limits for your 401K or IRA. 5. When your 401K equals $401K or more. 6. When your retirement account total passes your annual salary. 7. When your retirement account earns more annually than your annual salary. Financial independence! All are possible and feel so good. —Gary H.
Order your copy of The Simple Path to Wealth (Revised & Expanded 2025 Edition)
The financial clarity and courage you need to break free from the system — in just five minutes a week. From the Godfather of FIRE: simple investing for financial independence.
The Simple Path to Wealth Your roadmap to a rich, free life — in just five minutes per week. January 20, 2026“Education is the ability to listen to almost anything without losing your temper or your self-confidence.” —Robert Frost THE SIMPLE NUMBERS How much do people pay their financial advisors? The Wall Street Journal looked into it in October of last year.With the assets under management (AUM) model, where advisors charge a percentage of the total assets they manage for the client, fees...
The Simple Path to Wealth Your roadmap to a rich, free life — in just five minutes per week. January 13, 2026I now have two favorite interviews.Where Hasan Minhaj beat me with sticks, Steven Bartlett lulled me into revealing two very personal stories I'd never shared before.After almost three hours discussing the power of financial freedom and the investing path to reach it, the Diary of a CEO host got me going in ways I didn't expect.He also made an announcement he probably should have run...
The Simple Path to Wealth Your roadmap to a rich, free life — in just five minutes per week. January 6, 2026“I am much inclined to live from my rucksack and let my trousers fray as they like.”—Herman HesseIt's a new year, a time to take stock and (perhaps) chart a new course for your life. That makes it as good a time as any to zero in on a core principle of The Simple Path: Financial freedom is something you can choose to pursue no matter how old you are, but it's a choice you have to make....
