The 2018 version even features a foreword from Mr. Money Mustache. [–]inspired2apathy40% SR 3 points4 points5 points 3 years ago (2 children), [–]CLTY[S] 0 points1 point2 points 3 years ago (1 child). Grant’s book is an inspiring story of what you can do once you make up your mind to take the steps that are necessary to get you out of a difficult financial hole. With so much to read, it can be difficult to figure out where to get started. His talking style comes through in his writing, and each of those things you heard on that podcast were advocated for in the book. (shelved 20 times as financial-independence) … To get you started, we've created a list of the 12 best books for those pursuing FI. These are books I have so far, please suggest more or give your opinions! Your Money or Your Life is one of the best books on financial independence and was first published in 1992 but has been updated in 2018. Well-written: This one goes without saying. 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. I'd recommend it. This personal finance book, the winner of the 2015 EIFLE (Excellence in Financial Literacy Education), includes tips for teens to avoid what … The most common path to becoming a millionaire is not as sexy as most folks would think - instead of buying fancy cars and vacation houses, you work your ass off and make good financial decisions. First up: Rich Dad, Poor Dad isn't a good option. "Build the life you want, then save for it.". He is all about owning assets that generate free cash flow, but doesn't seem to comprehend that the stock market can do this in the form of dividends or gradual selling with much less headache than being a realtor (his wife is IIRC) to take advantage of rolling over up to 250k gains in one property's equity into another property tax free. Best Financial Independence Retire Early Books. Books on Financial Independence. Early Retirement Extreme is a great book, and I actually think that's the best place to start. I also like Set for Life, which is a new book from Scott Trench. Slow and steady. The way I chose my favorite financial independence books was to define a few criteria for what a good financial independence book is. threads. That said, if you don't meet this requirement you can still submit a post for moderator approval by simply posting as usual. [SERIOUS] Does anyone else want to retire early and end their life around age 75-80 (or when health goes downhill)? © 2020 reddit inc. All rights reserved. In 2019, you can add the wonderful world of Reddit to the list of the best personal finance podcasts, best personal finance blogs and top financial books as trusted sources for content. use the following search parameters to narrow your results: This is a place for people who are or who want to become Financially Independent (FI), which means not having to work for money. I can't promote it here, but I have a free ebook on my website that covers the basics of FIRE. There's nothing spammy about it. Avoid it as a starter book. [–]Scimichef 0 points1 point2 points 3 years ago (2 children). The Richest Man in Babylon. There are lots of books out there, but most of them are overly wordy with little insight. I will go with Your Money or Your Life then. [–][deleted] 0 points1 point2 points 3 years ago (0 children), [–]wijwijwij 0 points1 point2 points 3 years ago (0 children). [–]jdroth[50 / Portland, Oregon] [FI since 2009] 13 points14 points15 points 3 years ago (4 children). By saving … Daily FI discussion thread - December 18, 2020, 24M | 60% SR | Northeast | Data Analytics. Best for: Inspiration. Excellent book on how to retire and make it last. It covers the basics and links to other good resources. Broke Millennial: Stop Scraping By and Get Your Financial Life Together by Erin Lowry. Which of these three books is the best for a first read on FIRE. It's not really about FIRE, but is probably the closest. [–]inspired2apathy40% SR 1 point2 points3 points 3 years ago (0 children). If You Can. His articles discuss getting out of debt, buying a house, college savings, early retirement and more related to financial independence. This book is essential reading for anyone on the path to FIRE - Financial Independence and Retiring Early. The list of the financial independence books below is a game changer. He has dedicated the site for anyone who wants to find financial freedom. ChooseFI: Your Blueprint For Financial Independence by Chris Mamula, Brad Barrett, and Jonathan Mendonsa Interest into financial independence and early retirement seems to be growing every year and the list of books being written about it continues to grow as well. The Millionaire Next Door is a good book and it is about financial independence (despite what another commenter said). Becoming financially independent requires hard work and a healthy attitude towards money, but also a degree of privilege. [–]entropic35% SR (2019), 22% progress 2 points3 points4 points 3 years ago (1 child). Whether you want to lurk (like I have for years) or be an engaged member of one of the Reddit personal finance subs, there is value to be had . The emotional, financial, and social toll that marrying the wrong person can take on your life will overwhelm almost any progress you can make in your career or pocketbook. If you are a busy individual and don’t have time to read (strange that you found this page), Amazon’s Audible is the best way to experience these books while multitasking.It’s a great commute companion to expose yourself to literature. He actually said, if you are going to put money in the stock market this isn't the place for you at one point. Simplifying and redesigning your lifestyle to reduce spending. I'm not a fan at all of the other two. Yes the investing advice in YMOYL is useless but the concept is what got me started. Scott Rieckens is an Emmy-nominated film/video producer, serial entrepreneur, and author. The purpose of this subreddit is to discuss FI/RE strategies, techniques, and lifestyles whether you are retired or not. He has authored multiple books and courses as well as being a contributor to Entrepreneur magazine. Daily FI discussion thread - December 19, 2020. I've only read two of these, but would definitely go with The Millionaire Next Door. If you … he was also saying how he isnt in the stock market at all right now, specifically, because he expects a downturn and he predicted a recession coming in 2016 +/- 3 years (im not sure when he predicted this? Best Net Worth Tracking Tools. Thomas J. Stanley's profile … Your Money or Your Life is probably the classic, and it offers both inspiration and practical advice. Your Money or Your Life (Paperback) by Vicki Robin. Which one is the best? I'd suggest reading the stock series on his blog, it's quite good. 3. Rendered by PID 13023 on r2-app-0dc70e46e7ff13865 at 2020-12-19 23:18:19.353604+00:00 running 406fa40 country code: US. 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. It occurs when people have enough built-up income to pay for necessities, for the remainder of their lives, without an active-income, work-related paycheck. My journey so far. (If you're less techy and more into psychology, though, it might not be the best place to start.) Why not read one of the suggested books from this sub instead? Edit: my assumption was completely off. Then it would make sense to read that one first. Remember, that money is not the goal, time is. FIRE Spreadsheet. Which of these three books is the best for a first read on FIRE? The FIRE Reddit Community has hundreds of thousands of subscribers that discuss various topics related to savings rates, expenses, retirement strategies, and much more on a daily basis and is a great resource for any adult. Please find below a list of suggested books by the subscribers of our subreddit. He achieved financial independence by analyzing the tax code and looking at personal finance through the lens of early financial independence to develop advanced strategies to get there. Who is planning to leave little to no estate, and how has that affected your FIRE number/planning? Recommend more content by messaging our moderators! The Art of Living by Thich Nhat Hanh. it was just weird stuff. Get an ad-free experience with special benefits, and directly support Reddit. That said, I think you have better options. THIS IS A TEMPORARY SPAM-FIGHTING MEASURE. For reading up on FIRE, I narrowed it down to these three choices. At its core, FI/RE is about maximizing your savings rate (through less spending and/or earning higher income) to achieve FI and have the freedom to RE as soon as you wish. Building Wealth and Being Happy. I don't have the time to read every single good book out there. 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. u/EngagingData's Early Retirement FIRE Calculator. [–]networkjunkie1 1 point2 points3 points 3 years ago (0 children). Set for Life by Scott Trench. Reddit Financial Independence and Early Retirement. Here are 12 of our favorite FIRE books to help you acquire the knowledge you need to retire early and begin living your very best life. Financial Independence, Retire Early (FIRE) is a financial movement defined by frugality and extreme savings and investment. AMAs with William Bengen, Mr. Money Mustache, Wade Pfau, etc., have been archived here. I'm not sure who his editor was, but they should be fired for letting a "stream of consciousness" book be published about his life with no fact checking. Read the FAQ, wiki, sidebar before posting, No advertising, self-promotion, solicitation, or spam, No surveys, ‘ask-reddit’ style questions, interview requests, or feedback requests, Better suited for the Daily/Weekly threads, Press J to jump to the feed. Thanks for your patience! This subreddit deals primarily with Financial Independence, but additionally with some "RE" concepts. 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. Can a single guy get a mortgage on his own? Financial independence … [–]AskWhatNext48M, Author, FIREd 9/2018 9 points10 points11 points 3 years ago (2 children). Your wants and needs aren't written in stone, and less spending is powerful at any income level. I would have to go with The Millionaire Next Door. Random Walk down Wall Street That’s why I’ve compiled this list of the best books on the topic. In fact, FI can sometimes be an addiction to money in another form – simply optimizing and saving, without stopping to smell the roses. Hit $1,000,000 NW at 33(m). Oh, I didn't consider that one - I assumed it was more about value investing. A huge labor of love was to develop a way to identify a target financial independence date for a real person and to see if savings will last for a lifetime. I'm also a huge fan of a book called Work Less, Live More, which is all about semi-retirement. Money only matters if it helps you live a life you love. Each one presents a unique and worthwhile approach to handling your money. The Simple Path to Wealth was written by Jim Collins as a result of failed attempts to educate his daughter about money. 1. Also a good reminder on why you shouldn't time the market. It's a good choice. The book really challenged my perceptions of wealth and spending habits. Press question mark to learn the rest of the keyboard shortcuts, In Praise of Idleness -- Free Online Link, The Life-Changing Magic of Tidying Up: The Japanese Art of Decluttering and Organizing, If You Can: How Millenials Can Get Rich Slowly, The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns, Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School, Get a Life: You Don't Need a Million to Retire Well, Building Wealth And Being Happy: A Practical Guide To Financial Independence. It's mostly about passive investing but I think it's important to read as a investment consumer. REDDIT and the ALIEN Logo are registered trademarks of reddit inc. π Rendered by PID 13023 on r2-app-0dc70e46e7ff13865 at 2020-12-19 23:18:19.353604+00:00 running 406fa40 country code: US. I graphed out all the guesses from the contest to guess the S&P Close on 12/31. I can't comment on the Tony Robbins book because I haven't read it (yet). If you have any suggestions / corrections / etc, please message the moderators. It was really weird. The Financial Independence, Retire Early (FIRE) movement has been gaining followers for the better part of a decade and awareness of it is now spreading into the mainstream. Use of this site constitutes acceptance of our User Agreement and Privacy Policy.