Renowned financial educator JL Collins has some advice for millennials and younger generations struggling to build wealth. Collins, widely known as the “Godfather of Financial Independence,” emphasized two fundamental strategies in a recent conversation with the comedian Hasan Minhaj: Invest in Vanguard Total Stock Market Index Fund Admiral Shares, and rent instead of buying a home.
Minhaj, who rose to fame as a correspondent on “The Daily Show” and later hosted Netflix’s Emmy-winning “Patriot Act,” interviewed Collins in June about his bestselling book, “The Simple Path to Wealth.” The book, which has sold over one million copies across 20 languages, emerged from Collins’ failed attempts to teach his daughter about money when she was young. Collins spent decades in B2B magazine publishing, but has been investing in the stock market all the while—for over 50 years. He also worked as an investment officer at an international investment research firm, marketing analysis to institutional investors.
