"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."
"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%."
Advice for younger generations centers on two strategies: invest in Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX) and rent instead of buying a home. VTSAX offers broad exposure to the entire U.S. stock market, tracks nearly the whole investable market, holds roughly $1.9 trillion in assets, and carries an extremely low expense ratio of 0.04%. Emphasizing simplicity and long-term investing, these strategies align with the Financial Independence, Retire Early (FIRE) philosophy. Prioritizing low-cost index investing and minimizing housing-related leverage or costs can accelerate wealth accumulation for millennials and younger cohorts.
Read at Fortune
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