"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."
"During his interview with Minhaj, Collins emphasized his core advice for younger generations: "VTSAX and rent"-a philosophy he says he's shared with his own daughter, who is now in her early 30s. VTSAX, or the Vanguard Total Stock Market Index Fund Admiral Shares, provides broad exposure to the entire U.S. stock market with an extremely low expense ratio of just 0.04%."
The core advice for younger generations is to invest in Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX) and to rent rather than buy a home. VTSAX provides broad exposure to the entire U.S. stock market with an extremely low expense ratio of 0.04% and holds about $1.9 trillion in assets. Embracing low-cost, broad-market index investing paired with flexible housing choices can simplify personal finance and accelerate wealth accumulation. Practical market experience and decades of long-term investing support the recommendation. The financial independence community sees these strategies as foundational to pursuing early financial freedom.
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