<ul><li>1. Spend less than you earn - The foundation of financial independence is simple: live below your means.</li><li>2. Invest in low-cost index funds - Collins recommends investing in low-cost index funds, particularly Vanguard’s Total Stock Market Index Fund (VTSAX).</li><li>3. Avoid debt like the plague - Debt severely limits your ability to build wealth, so paying off high-interest debt and avoiding unnecessary borrowing is crucial.</li><li>4. Understand the power of f-you money - Having financial independence gives you the freedom to pursue passion projects and make choices based on what truly matters to you.</li></ul>

5 lessons to learn from the book The Simple Path to Wealth

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