FRLN91: Beat Bad Habits, Build Steady Wealth, Know Your Path
What’s up, my Fit Rich Friend?
This week's podcast features The Godfather of Financial Independence himself, JL Collins.
I interviewed him back in episode 71. Now he’s back with an updated edition of Simple Path to Wealth, which hit #7 on the New York Times bestseller list.
And in this week’s newsletter, we’ll flash back to JL’s wisdom on compounding returns in your fitness, money, and mindset.
Inside, you’ll discover:
How your health is like an interest-bearing asset.
How to build & maintain wealth when markets look scary.
How to worry less and aim your energy at what compounds.
Let’s get started…
FIT — Beat Bad Habits Before They Begin
Back in episode 71…
JL said he wished he had focused on diet and training much earlier in life.
He said unwinding bad habits is harder later. That your health compounds over time, just like your money compounds over time.
And I couldn’t agree more.
Most people overestimate the power of “the perfect program”, and underestimate the simple math of consistency. It’s those small repeatable deposits you make in life — protein at every meal, a 20-40 minute strength session, a daily walk, 7-9 hours in bed — that compound into feeling fit well into old age.
Treat training days like automated investing and rest days like accruing interest.
The goal isn’t to suddenly wake up and make one big heroic contribution to your health and fitness “bank account” overnight.
It’s to be steady, consistent, and reliable with the small stuff.
And any time you “fall off”, stop feeling like you need to “start over” — just focus on making the next deposit.
RICH — The Simple Path Still Works
It was true the first time I interviewed him, and it’s still true now.
“Bonds aren’t dead!” JL said.
Their job isn’t to make you rich, it’s to keep you steady. Especially when you’re in wealth-preservation mode. Dumping bonds after a rough stretch of returns is like dumping all your stocks during a bear market.
You’re judging on too short a timeline.
But here’s the real problem.
Bonds get a bad rap because most big finance websites only quote current bond prices, not the steady interest they pay you in return. And if you reinvest that interest, then your real rate of return looks much, much better than the charts could ever suggest.
The lesson?
Don’t confuse the map for the territory.
Don’t treat today’s chart like tomorrow’s truth.
Know what you’re really looking at before you walk away.
That’s why JL is such a genius when it comes to investing. He knows how to take a step back and look at the bigger picture. That’s why I always ask my clients to think of investing in “phases” instead of “fads”.
First, you accumulate stocks to fuel growth.
Then you layer in bonds for added stability during your wealth-preservation stage (when you’re no longer earning an active income).
Keep it simple and avoid tinkering.
LIFE — The Power Of Trust
The first time I interviewed JL, his life advice was simple:
Don’t worry so much.
If he could talk to his younger self, he’d tell him to relax and just follow the Simple Path.
Keep stacking cash into a broad, low-cost index fund. Trust that compounding will do the heavy lifting. Every year, every step forward, you’ll grow stronger and wealthier.
I couldn’t agree more. Looking back, I wish I could’ve told my 25-year-old self the same thing: stop stressing about getting rich fast. Just invest every month and let time work its magic. I would’ve become wealthier faster and been a whole lot happier.
Because here’s the thing…
Worry compounds into all other areas of life.
Worry can keep you trapped in a career you hate.
Worry can keep you from starting the side hustle that will change your life.
Worry can keep you from speaking up, asking for a raise, and going after what you want in life.
Worry can keep you from achieving financial independence, from panic selling on investments that would’ve doubled if you just held on.
Every time worry dictates your decisions, you lose a little ground. And over decades, those losses add up.
The solution?
Know your path, trust the process, and let compounding do its job.
ACTION — Time To Make A Deposit
Pick one and make a deposit toward your long-term goals:
Health — Take a 30-minute walk right now, and put episode 90 of the podcast in your ears while you do it.
Money — Set or raise your automatic monthly investment in a total market fund (even if it’s just by $5 or $10 dollars).
Mindset — Do a 5-minute meditation where anytime worries or thoughts about the past or future arise, breathe deep, let it out of your mind, and trust that everything is going to work out fine.
That’s it for today, thanks for reading as always.
And check out Episode 90 with NYT bestselling author of The Simple Path to Wealth, JL Collins, on your favorite platform using the links below:
🎧 Spotify | 🍎 Apple | ▶️ YouTube | 🌐 Web
To your health, wealth, and happiness,
— Justin David Carl
P.S. If you’re reading this for the first time and want to get weekly tips, tools, and strategies to level up your fitness, money, and life, join my newsletter here. Or get a free copy of my 29-page money guide to empower your financial freedom journey, and you’ll be automatically added to the Fit Rich Life Newsletter.