summary ofThe Simple Path to WealthBook by J.L. Collins

first KEY POINT

Wealth creation for the everyday man

For the average income earners, they dream of a better life for themselves. A life free of so many work hours and enough money making everything easy. But often, they don’t have the skill or know–how to accomplish this dream of wealth creation.Wealth creation is one task that drives the bulk of individuals in the labor market. They’re either hoping for that one big promotion or a big break to catapult them to their dream financial status. While this is admirable and inspires hard work, it is not feasible or reliable either.To create wealth, one must look outside their salary. No salary earner ever became a millionaire on their salary alone, which means that the true path to wealth forces one to think outside the box occasionally. The ideas we stumble upon won’t always birth successes, and this is where the experts come in.J.L. Collins has made it his life’s work to give everyone a piece of “el dorado, the city of gold”, their slice of heaven or paradise if you will. He offers readers the tools to create wealth and sustain it too. It will require formal education to do this, and J.L. Collins has broken it down into smaller, simpler chunks that even the layman can quickly grasp.

The most excellent advice J.L. Collins offers to avoid debt by all means. Debt presents as an easy way out of spending cash because you can always pay it back later, but in truth, debt never goes away if you keep incurring more in hopes that one day, you’ll pay it back. Debt is the biggest hindrance to creating and sustaining wealth.