I’ve come back to this book on my own journey many times, especially for the tax-efficient investing recommendations, and it’s worth reading for anyone interested in making the most of their money. Early in your journey toward financial independence, you may want to maintain minimal insurance coverage to keep your insurance expense low. For another list of great books, check out our list of the top financial freedom books or these best investing books. The author reached independence by age 30 and was able to retire from his profession at 33. By. No matter where you are in your own financial journey it’s worth reading the classic book that’s sold over 1 million copies and started the FIRE movement. since you’ve added The Art of Living, you could also consider Power of Now by Eckhart Tolle where he has written about Abundance. Ramit has a great way of making money very simple and with a large focus on income optimization and launching your own business this is an exceptional book for entrepreneurs. It’s without a doubt the most entertaining money book I’ve ever read, simply because Kristy’s story is so engaging. Publication Date: 2011. Read Next: What It Means to Be Financially Independent, 17 Wealth-Building Strategies to Implement Today, What It Means to Be Financially Independent, Is Qualcomm’s Dividend Safe? Rich Dad, Poor Dad by Robert Kiyosaki. That’s why we provide a free e-letter that covers these topics. While there are a ton of money books, and I’ve read hundreds of personal finance books over the years, there really aren’t that many FIRE (financial independence retire early) books, but more are starting to be released. My list of the 5 best financial independence books above is as good as any place to start, as I have consciously included a mix of different writing styles and FI methods to ensure that it caters to a wide audience. There are lots of books out there, but most of them are overly wordy with little insight. It is so full of life and color and beautifully written. The financial side is important, but you should also consider hobbies, physical and mental well-being, and social support. Rich Dad, Poor Dad is often known as many people’s introduction into the world of investing and financial independence. In his book Set For Life, he walks you through a three phases approach to accelerating your financial independence. Financial Independence is a term that describes a state where a person no longer needs to rely on a day-to-day job in order to produce enough income to live comfortably. One unique tool you’ll find in this book is the “Get-a-Life Tree.”, Author: Cary Siegel It is largely regarded as one of the best books on financial independence, retire early (FIRE). Within their pages, you’ll uncover time … This is the book that started it all for digital nomads and while it’s not a money book, it’s focus on entrepreneurship and making money from anywhere makes it indisputably a FIRE book. Tumblr. Rich Dad Poor Dad: What the Rich Teach Their Kids About Money by Robert T. Kiyosaki Rich Dad Poor Dad is the very best book available for those who want to become wealthy or at the very least, attain a moderate level of financial independence. 0. That’s why I’ve compiled this list of the best books on the topic. Coming out of high school and college, most people haven’t learned how to manage their finances. Following the principles established by the late Founder of Vanguard, Jack Bogle I found this book even better than Jack’s own books and the perfect starting point for anyone interested in investing. It’s a worthy addition to any FIRE movement bookshelf and well worth buying a copy. I held nothing back when writing this book and go deep on all the key topics you need to know to reach FIRE, including: It’s definitely worth checking out and don’t forget to let me know what you think. I loved this book so much. If you are interested in FI or FIRE (financial independence retire early) this list of books is a great place to start your journey! Your email address will not be published. Below is the list of top 10 financial literacy books – Rich Dad Poor Dad (Get this book ) It follows the lives of some millionaires that have made their money from being frugal, saving, and investing wisely. One big takeaway is that you can learn to live well for less and declutter your life. They covered topics such as money and investing. The most recent survey indicated that a walloping 70 percent of us believe we’re on shaky financial ground. Author: M.J. DeMarco With the right mindset and plans in place, you can kick the classic 9-to-5 job to the curb. Great list Grant! I have listed the 10 Best Books alphabetically by author surname. thank you for this list. Since I discovered the concept of financial independence and early retirement (FIRE) in the beginning of 2016, I have done quite a bit of reading on the subject. One of the biggest challenges of following FIRE isn’t the tactics, it’s choosing to live differently than those around you. Scott Trench is the CEO of Bigger Pockets, the popular real estate investing community, and one of the smartest people I know when it comes to money. In the book, he presents a number of different mindsets that will change how you think about money and its role in your life. If you’re looking for a book to get your friend on board with the movement or a human story about how it feels to discover and follow the FIRE movement then this is definitely worth a read. Ramit also recently released a fully updated version in honor of the 10th anniversary of the book. And going one step further, more people are becoming happier with less. Purchase The Bogleheads Guide to Investing Now! Managing money is by no means rocket science. Read more. The Millionaire Next Door. As I believe being productive is just as important as the knowledge of financing itself. Out of the different topics about finances, one of the more popular ones is this idea of financial independence. While I have some issues with the book, mainly that Tim makes it seems a lot easier than it actually is to be location dependent, the book is incredibly useful for the mindset that instills in the reader. I can’t ever remember laughing that hard reading any book, let alone a personal finance book. I’ve read the 4HR work week and so much of it makes sense to me now. Like a mini financial memoir covering this guy Scott and his family jumping into this whole FIRE financial independence retire early thing. 4. Setting the right goals is vital to both obtaining and enjoying your retirement. That’s why I’ve compiled this list of the best books on the topic. He has an excellent blog to go along with the book. One key takeaway is learning how to escape the trap of consumerism. This background is what’s helped the author write such an impactful financial independence book. This financial independence book focuses on speeding up your path to the millionaire’s club. Many people don’t want to spend time thinking about money, but it’s the most powerful tool we have for navigating the world. Author: JL Collins ReddIt. I simply put it first because this is my blog and I’m extremely proud of it, but I worked hard to make Financial Freedom as comprehensive as possible and the perfect starting point for anyone interested in FIRE and financial freedom. (shelved 1 time as financial-independence) avg rating 4.35 — 1,567 ratings — published 2013 Want to Read saving… Following advice mentioned in these books on FIRE (Financial Independence, Retire Early) will help you in accumulating wealth but you should also be conscious about protecting your wealth. Money only matters if it helps you live a life you love. Another thing I like was the incredible amount of detail in the book, with many charts and graphs to illustrate the most important points and key takeaways. Quit Like A Millionaire is the perfect balance of story, tactics, and motivation. Not only because of the simple steps that get more complicated as the book builds, but because the focus, like in Your Money or Your Life, is on how much is enough? But, as … We researched the best options, including self-help books to books for managing debt. ALL RIGHTS RESERVEDMILLENNIAL MONEY® IS A REGISTERED TRADEMARK OF MILLENNIAL MONEY LLC. Author: Vicki Robin While many of the best FIRE books include sections on investing, The Bogleheads Guide to Investing is by far the best investing book I’ve read and is a great place to dive deeper into the FIRE investing strategy. Scott Trench is the CEO of Bigger Pockets, the popular real estate investing community, and one of the smartest people I know when it comes to money. Saving can be difficult. Since 1993, the creators of The Motley Fool have been educating the masses on finance. While the book is largely geared towards people who are single and in their 20’s or early 30’s, I think the creative ways he thinks about money make this a must read for anyone starting their financial independence journey. Your email address will not be published. ChooseFI: Your Blueprint For Financial Independence by Chris Mamula, Brad Barrett, and Jonathan Mendonsa. 1. If you want to calculate your real hourly wage check out the real hourly wage calculator. Within the pages of Your Money or Your Life, you’ll find out how to take control of your financial life. Financial independence is an powerful movement that is inspiring people all over the world. 5 Books for Financial Independence. If you’re interested in making more money (remember you can only cut back so much), then you should check out I Will Teach You to Be Rich, a true personal finance classic. With some simple rules, anyone can improve their income and savings. There are lots of books out there, but most of them are overly wordy with little insight. Already, hundreds of thousands of people have followed this book’s nine-step program. Some of the best investments you can make with your marriage and money are books. I’ll continue to add to this list as more make the cut. The book is a step by step guide in 14 chapters to help you make more money in less time and create more freedom in your life. ©2015-2020 MILLENNIAL MONEY LLC. Beginners can jump right into the excitement by reading the best financial independence books on the market today. Best books for achieving financial independence Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence , … There’s a big difference in both mindset and strategies. It grew out of a series of letters between the author and his daughter. At its core, FI/RE is about maximizing your savings rate (through less spending and/or higher income) to … 5 Best Financial Independence Books in 2020. In addition to putting out the incredible Playing with FIRE documentary, which I was honored to be included in, Scott Rieckens also wrote a great starter book about him and his wife’s discovering and the first year following the FIRE movement. Publication Date: 2010. While the book largely focuses on investing, the book is so popular because JL’s writing and steps are laid out simply and are easy to follow. With these tools, just about anyone can become financially independent in five to 10 years. Purchase I Will Teach You To Be Rich Now! No matter your FIRE goals, these are some of the best financial independence books to get you there…, Author: Ernie J. Zelinski So many real estate books focus on building insanely large portfolios or helping you build a real estate empire, Chad’s book’s explicit focus is on helping you retire early using real estate. Sometimes books full of charts and numbers can feel a little like homework and be too daunting. Cost. I expected a lot but was blown away. Want to retire early? A Simple Path to Wealth is largely based around a series of blog posts JL wrote on his website about stock investing intended for his college bound daughter. Although there are many interpretations…. In the past few years, financial independence has been catching more attention. Great book. FIRE followers don’t have to worry as much about saying no to new projects or tasks for fear of losing their jobs. Great list! Are you looking for the perfect books to reach financial independence and help you understand your finances? This is, in my opinion, the most comprehensive list of the best books on personal finance, investing, self help and personal development I have ever come across. This is my book, so it’s a shameless plug, and I’m not putting it first because I think it’s the best. The 4 Hour Workweek is definitely worth a read if you’re interested in entrepreneurship, which is one of the fastest paths to financial independence. Good luck! This book completely changed how I think about money. As they approach and reach financial independence, this mindset grants them even more flexibility on the job. Collins does not disappoint. The FIRE movement is all about living life on your own terms and so is this book. Updated in 2018, Your Money or Your Life is an absolute classic for a reason. Brad and Jonathan partnered with Chris Mamula on this project–just three suburban dads trying to make the world a little better. It will provide you with insightful knowledge about financing and the motivation to be productive. My favorite chapters are the mindset ones, the discussion about the four pillars of financial independence, frugality, and the step by step strategy for how to calculate how much money you’re actually making per hour. While Thich Nhat Hanh has written many books and I’ve read dozens of them, The Art of Living is by far my favorite and will likely be his last book given his stroke a few years ago. I loved Scott’s down to earth and accessible writing style, as well as his overview of the FIRE movement that’s spreading the world. The list of the financial independence books below is a game changer. So this book teaches you what most schools don’t. To access it, just sign up below. This book details 99 principles that can enhance your financial well-being. The Millionaire Next Door is one of the first books most people interested in Financial Independence tell you to read. Author: Jacob Lund Fisker Tim also created the idea of the “mini-retirement” and viewing your earning years as a series of phases, instead of one long 9 to 5 grind. If you’re interested in pursuing FIRE, then this list of books is not only an incredible place to start, it will literally give you the exact blueprint that you can customize to accelerate your own financial independence journey. Robert Kiyosaki says ‘every person who graduates from school is financially illiterate.’ Add the books on financial literacy to your reading list to increase your financial literacy. Check Out These Three Dividend Trends, Starbucks’ Dividend History Shows an Income Opportunity, Top Investment Seminars and Workshops in 2021, Top 6 Monthly Dividend Stocks to Buy in 2020, Lordstown Motors IPO: New EV Company Going Public via SPAC, Opendoor IPO: Stock Listing via Chamath Palihapitiya’s SPAC, Best Long-Term Stocks to Buy and Hold for the Next 10 Years, Fisker IPO: Stock Coming to Market via Merger. And by following their lead, you can wipe out debt faster, build up your savings and set up sources of automatic income. Fortunately, there are some great books that can help you learn the lingo, master the techniques, and stay on track. Captain FI’s personal Financial Independence Reading list. Listed below are the Top 5 Best Books about Financial Independence in 2020. While it's not easy to retire early, it's never been easier to make it happen. In fact, there’s an entire movement around it…. While this is more of an investing strategy than a complete personal finance book, it fits well when read with Your Money or Your Life. Knowing the “why” behind your saving can give you the motivation you need to do it consistently. I read the entire book on a 6 hour plane ride and literally laughed out loud. Some focus only on the financial independence side. This book is packed with useful insight and is an easy read. Be the owner, not the boss. The Military Guide to Financial Independence and Retirement Doug Nordman is the Godfather of the military financial independence community. Within their pages, you’ll uncover time-tested strategies to improve your finances. This can drastically improve decision making at work, as well as fulfillment. 5. I remember reading The 4 Hour Workweek when I was 24 and it completely blew my mind. On my own financial independence path, I found the work of Thich Nhat Hanh incredibly helpful in guiding my own journey and life. At its core, FI/RE is about maximizing your savings rate (through less spending and/or higher income) to achieve FI and have the freedom to RE as fast as possible. Your Road Map to Financial Independence … How to maximize your happiness per dollar, How to change your relationship with money, How to invest in stocks, bonds, and real estate, The best money habits to help you fast track financial independence. I personally believe The Bogleheads Guide deserves a higher spot in this list. Here are Kristy and Bryce on my financial freedom podcast. So while most of this information is available completely for free in JLs stock series there is some additional high value content that makes it worth reading the book. Facebook. He’s also a deep thinker and presents a compelling case for how to best spend money to maximize happiness in your life. While I didn’t read JL Collins investing masterpiece until after I’d already reached financial independence, this book is definitely one of the best to help you reach financial independence. Yet too many sources make it overly complicated. The list of the financial independence books below is a game changer. Still, the FIRE mindset is useful. Or, try out online book subscription services like Scribd, which offers audiobooks, news and magazines, and traditional books. On top of that, you’ll find key financial principles and a framework for success. These eight books can help you get started on your journey into personal finance. admin - April 15, 2020. You don’t have to subscribe to a lifetime of mediocrity. Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) - quitting your job/career and pursuing other activities with your time. They enjoy the work they do and have no plans of retiring early. 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