J.L. Collins presents practical investment advice for financial independence. Book focuses on low-cost index fund investing for long-term wealth growth. Author's conversational style helps readers take control of their finances
Nathan Ames patented first escalator in 1859, but no working model was built. Jesse Reno created first working escalator in 1896 at Coney Island. Charles Seeberger developed first commercial escalator in 1899. Otis Elevator Company became dominant manufacturer in early 20th century
Three CD options available: Featured, Fixed Term, and Flexible. Minimum opening deposit is $1,000 for all accounts. FDIC insurance up to $250,000 per depositor
MPS measures the proportion of income increase saved versus spent. Calculated as change in savings divided by change in income. Depicted by savings line plotting savings on vertical axis
After-tax income should be divided into 50% needs, 30% wants, and 20% savings. Rule was popularized by Sen. Elizabeth Warren in her book. Americans have average savings rate of just 3.4% as of June 2024
Automatic savings deposits help save money automatically. Pay off existing debt to avoid accumulating new ones. Set realistic savings goals within reach. Keep track of expenses and create detailed budgets