Comments on: For the Love of Frugal Hound, Manage Your Money Yourself! (by following The Simple Path to Wealth)

By: Philip Edward

Philip Edward — Tue, 21 Mar 2023 09:29:59 +0000

“For the Love of Frugal Hound: Manage Your Money Yourself by Following the Simple Path to Wealth” is a fun and engaging read that offers some great advice for anyone looking to take control of their finances. I appreciated the author’s personal anecdotes and the fact that they emphasize the importance of living within your means.

By: Lonelle

Lonelle — Mon, 15 Apr 2019 23:23:20 +0000

This post is perfect timing for me since I just opened an account at Fidelity and received the Fidelity Visa that puts 2% cash back on every purchase if you transfer the rewards amount into your investment account, and started transferring money this month. Now I need to figure out how to look up the low fee index funds (its not the same as the Vanguard example! Lol). The book has been purchased! I just found your blog a couple weeks ago and really enjoy it! Thank you!!

By: Jen

Jen — Tue, 12 Mar 2019 19:38:39 +0000

I know you have recommended both Fidelity and Vanguard? What are the advantages to each?

By: Alia G

Alia G — Mon, 28 Jan 2019 20:09:51 +0000

In reply to KarenF. We handle the 529 ourselves. It's just like opening the IRA account with Vanguard. If you google your state and "529" you should get to a link to a website.

By: Jeff

Jeff — Sat, 05 Jan 2019 11:36:29 +0000

Dear Friends,
If you enjoyed JL Collins’s book The Simple Path to Wealth, I strongly recommend Burton Malkiel’s masterpiece; A Random Walk Down Wall Street. This is a great read by one of the world’s great (no nonsense) academic economists. Malkiel has been promoting low fee index funds for decades.

By: Cass

Cass — Fri, 04 Jan 2019 11:59:23 +0000

In reply to Wendy Young.

Hi Wendy
Thanks for pointing out an alternative book, I was scrolling through all the comments and have seen multiple non US residents ask the same question. Maybe Mrs Frugalwoods has read “The Barefoot Investor” and has some comments on it for us?
I was just about to look for a Google translator to convert these number that commenters keep using 401(k) 403(b) 529 etc into English (Aussie!) Ha! I get that some of them must be the equivalent to out Super but what are the rest of them?!?!

A question for Mrs Frugalwood – When you say put surplus into investment do you mean after savings? Or invest your savings? If you are saving for a deposit for a house surely all your surplus goes to that, what’s left to invest? To be clear I’m loving all your advice I just wanted some clarification on at what point and with which money do you start investing.

Thanks muchly!

By: Vladan

Vladan — Wed, 11 Jul 2018 20:43:46 +0000

Hi, I have just filled out everything to get approved for a Vanguard account, so exciting 🙂 Thank you very much for this article, if I hadn’t read how simple it is, who knows when I would get the courage to do it 🙂

I just want to make sure I did the right thing, I applied for a General Savings Account?

Also, since I am not a US citizen, but a green card holder (a resident alien), are you aware of something special that I should pay attention to, or is everything the same in terms of investing as for US citizens?

By: 2sents

2sents — Thu, 31 May 2018 19:39:27 +0000

ETFs are certainly appealing and many people should include them in their investment portfolios. As Liz points out, they are an excellent place for novice investors to begin. They are inexpensive and low maintenance. I think it is great that they are currently working out so well for the Frugalwoods ! But all good investment portfolios are diversified. ETFs should not be the end-all be-all of anyone’s investment strategy, particularly if they’re in it for the long-term.

By: Julia Hernstedt

Julia Hernstedt — Mon, 19 Mar 2018 20:14:22 +0000

Hello, I am new to your blog and love it. I am old: 72 years! But have always believed in donating what we don’t need. We have moved many times so I have learned to live with less; easier to pack.
My question to you has to do with investing. I have just begun reading the book you recommended by JL Collins and am enjoying it. We have very little to invest; having been self-employed and lost everything at least twice, and my husband (age 75 and a contractor) still works. He is a project manager and does very little physical work any more. We were foolish in our younger years and didn’t plan ahead and I would tell everyone to not do as we did. How I’d love to do it over! We have $10,000 in four different places (banks, safe, etc) but need to do the Vanguard or Fidelity (I think you use them?) investing. Vanguard however has to have $10,000 to begin the VTSAX and we just can’t put it all in there. We need some on hand for emergencies. I think you said we can begin a low index investment for $2500? How do I do that and is there anything for $1000 to just begin with? I so hope you will see my comment here and respond!!! Thank you in advance!

By: Barbara

Barbara — Fri, 26 Jan 2018 09:08:38 +0000

Great post, thanks! I’m completely new to investing and would love to explore it a bit more this year. I’m probably going to have a silly question, but figured I’d ask anyway: after investing for a couple of years, how do you get the money out? 🙂 For instance, let’s say you want to buy a house in 10–15 years and pay cash for it, some of which you want to siphon out from your investing account. So, do you just bide your time for a couple of months, watch the market, and sell at the best time? Or do you just take the money straight away?

I understand that it’s better to just leave the money alone and let it grow, but let’s say that you really do want to buy that house for cash (or take out enough for a sizeable downpayment).

By: Lani

Lani — Fri, 05 Jan 2018 17:05:26 +0000

Great message! Just purchased the book on Audibles to begin reading today!

By: Caroline

Caroline — Fri, 05 Jan 2018 10:43:33 +0000

In reply to CarolineRSA. another SA Caroline here, I was JUST thinking that and I will now look at the SATRIX website!