Why Mark has been talking about “Rice and Beans” (and why you should too)

If you’ve had a review with Mark recently, there’s a good chance he mentioned a gentleman named JL Collins. Mark has been deep-diving into JL’s philosophy ever since hearing him on the Diary of a CEO podcast, and it’s quickly become his favorite topic to share with clients.

Why? Because JL Collins is the “Fatherly Wizard” of financial simplicity. He takes the dark, bewildering, and trap-infested jungle of finance and clears a Simple Path through it.

The Monk, the Minister, and Your “Must-Haves”

To understand why this is so powerful for your financial plan, Mark wants to share one of JL’s favorite parables: The Monk and the Minister.

Two childhood friends choose very different lives. One becomes a powerful minister to the King, living in luxury. The other becomes a simple monk. One day, the minister sees the monk eating a bowl of rice and beans and says with pity, “If you could learn to cater to the King, you wouldn’t have to live on rice and beans.”

The monk looks up and replies, “If you could learn to live on rice and beans, you wouldn’t have to cater to the King”.

What this means for your “Freedom Machine”

For many of our clients, “cater to the King” means staying in a high-stress job or “Gilded Slavery”—where your lifestyle costs have scaled perfectly with your income, leaving you trapped by your own paycheck.

JL Collins argues that financial independence isn’t just about earning more; it’s about needing less. In our office, we’re shifting our language to match this “Lexicon of Autonomy”:

• We don’t “save”: We “buy freedom”. Every dollar diverted into your portfolio is a future day or month that you own your own time.
• Your Portfolio is a “Freedom-Producing Machine”: It’s an employee whose only job is to go out and make more money for you.
• FU Money: This isn’t your final “retirement number.” It’s the strength you build along the way that gives you the power to walk away from a toxic situation or a “King” you no longer wish to serve.

The Australian “Simple Path”

While JL Collins is American, the math works beautifully here in Australia—especially when you add in our “Secret Superpowers”:

1. Superannuation: This is the ultimate “freedom-buying” mechanism. With the guarantee increasing to 12% in 2025, the law is literally forcing you to buy your future freedom.
2. Franking Credits: Australia’s unique tax system means your “Freedom Machine” often produces even higher yields than its US counterparts, providing extra peace of mind for your 4% withdrawal strategy.

A Note for our “Tinkerers”

Mark also wants to give a friendly nudge to the “Tinkerers” out there—those who feel they need to do “one little thing differently” to optimize their results. Research shows that “execution trumps optimization” every time. A simple strategy followed for 20 years will always outperform a “perfect” one that you abandon during a market crash.

The Goal: We want you to stop being a “Gilded Slave” to your savings rate and start exploring this “big, beautiful world” on your own terms.

Disclaimer: This email contains general information only and does not take into account your personal objectives, financial situation, or needs. Please consult with us before making any investment decisions.