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Quit Like A Millionaire By Kristy Shen & Brice Leung

Kristy and Bryce are the creators of the popular Millennial Revolution blog and my good friends. Heres an excerpt from my Quit Like A Millionaire review.

I loved this book so much. It is so full of life and color and beautifully written. I expected a lot but was blown away. This is unlike any other money book Ive ever read and will inspire a ton of people.

Quit Like A Millionaire is the perfect balance of story, tactics, and motivation.

Its without a doubt the most entertaining money book Ive ever read, simply because Kristys story is so engaging.

I read the entire book on a 6-hour plane ride and literally laughed out loud. I cant ever remember laughing that hard reading any book, let alone a personal finance book.

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. Here are Kristy and Bryce on my financial freedom podcast.

The Barefoot Investor: The Only Money Guide Youll Ever Need By Scott Pape

Many people are overwhelmed by the volume of financial information, tips, tools, and hacks at their disposal. They dont know where to start.

If youre strapped for time or money and want a simple yet effective guide to financial independence, choose this book. Find out how it has helped Australians from all walks of lifeparents, couples, single individuals, and even retireesachieve their goals and improve their lives.

Australian businessman and not-for-profit financial counselor Scott Pape provides an uncomplicated, detailed strategy that readers can easily follow in their FIRE journey.

This book, which has been updated in 2019, details:

• the blow, grow, and backstop buckets you need to set up
• how to draw up a financial plan
• time-saving money management techniques
• ways to save for your home deposit or wipe out your mortgage and
• how you can retire with less than $1 million using the Donald Bradman Retirement Strategy.

When you make a commitment and have the courage to stick with it through thick and thin, you’ll double your income and more.

~ Scott Pape, The Barefoot Investor

Using the story of two fathers, rich dad and poor dad, Kiyosaki illustrates contrasting mindsets and strategies on money and investing.

This personal finance classic will show you:

Over 20 years after it was published, the concepts taught in this book remain relevant. Its 20th-anniversary edition now includes insights into financial changes that have happened in the past two decades.

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Invest Beyond 15%max Out Your Retirement Accounts

With a paid-for house and no debt to speak of, you can really start to make some headway on your early retirement goals. This is where investing 50% of your income for retirement could actually be possible. First, go back to your 401 and IRA and max out your contributions.

But remember: In most cases, you wont be able to withdraw money from your 401 or IRA without facing an early withdrawal penalty until you hit age 59 1/2. For example, with a traditional 401, youll not only have to pay income taxes on the money you take out, but Uncle Sam will also be taking another 10% on top of that. Not a good plan!

But theres a solution to that problem that most people who want to retire early forget about: a bridge account.

What Are The Best Financial Independence Books All About

Financial Independence books are an excellent investment because they can provide insights and knowledge that you may not otherwise have access to.

These books can be about a lot of different things. Some might focus on helping you save money, while others might teach you how to invest your money so that it grows.

But ultimately, all of the best books on pursuing financial independence share one common goal: to help you achieve financial freedom.

These books can show you how to make intelligent decisions with your money to eventually reach a point where you no longer have to worry about money. And isnt that the goal we all want to achieve? Of course, it is!

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The Millionaire Next Door: The Surprising Secrets Of Americas Wealthy

What are some habits millionaires from all over the world share? There are several, and youll learn about them in The Millionaire Next Door: The Surprising Secrets of Americas Wealthy. Written by professors Thomas J. Stanley and William D. Danko, this book reveals the secrets behind seven traits uncovered in their studies about the wealthy. And theyre not what you would typically think. From driving inexpensive cars to living in middle-class houses, the ultra-rich are taking steps to make sure they stay as such. One read of this book and youll be surprised to find how much youll view things differently.

Book #3 Playing With Fire By Scott Rieckens

Inclined towards the story side and less focused on the techniques, this book offers a different perspective on the journey to financial independence. It tells you what it feels like to change your finances and start prioritizing happiness in your life, and we believe that is why it is above some of the best books on personal finance. If youre looking to convince a friend to be on board with the FIRE movement, then this is where you start.

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Start Dreaming And Planning For Retirement

The best thing about the F.I.R.E. movement is that its getting younger workers to start thinking about retirementespecially since less than half of Americans have tried to figure out their retirement savings needs.1 Thats like trying to aim for a target with a blindfold on. Define what you want your retirement to look like and make a plan to get there.

The Art Of Living By Thich Nhat Hanh

Money only matters if it helps you live a life you love. While this is by no means a money book, its an absolutely extraordinary life book and one of my favorite books of all time.

One of the biggest challenges of following FIRE isnt the tactics, its choosing to live differently than those around you. Its choosing to live your own life and not the life that anyone else is living.

The FIRE movement is all about living life on your own terms and so is this book.

On my own financial independence path, I found the work of Thich Nhat Hanh incredibly helpful in guiding my own journey and life.

While Thich Nhat Hanh has written many books and Ive 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.

No matter where you are in your own financial journey I strongly recommend this book, which has also been helping in my life after reaching financial independence.

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Great Book Get A Physical Copy Though

• Narrated by: Wind Goodfriend
• Length: 5 hrs and 4 mins
• Original Recording

• 4.5 out of 5 stars 829
• Performance4.5 out of 5 stars 708
• Story4.5 out of 5 stars 700

What is love? It’s more scientific than you think. Through 10 lectures, Dr. Wind Goodfriend surveys the biology of interpersonal attraction, sexual preference and desire, and conflict resolution. You’ll look at a variety of romantic notions, common myths, and love stereotypes through the lens of science in order to break them down and better set expectations when it comes to keeping a long-term relationship happy and healthy. You’ll apply biology, psychology, and anthropology to that “spark” we feel when we are attracted to someone, to better understand what that feeling is.

What Is The Fire Movement

11 Min Read | Sep 30, 2022

Guess what? Theres no law that says you have to work until youre 65 . And there are a growing number of Americans who dream about leaving the workforce early and getting a head start on retirement!

But theres a new wave of younger workers who are trying to take early retirement to another level. Theyre on a mission to blaze a new path toward retirement as part of the F.I.R.E. movement.

They believe its possible to retire sometime in their 30s or 40s. You read that right! But how? Is it actually realistic to retire at age 45? Or even 35? Lets take a closer look at the F.I.R.E. movement to find out whether its right for you.

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What Does Fire Really Mean

The acronym FIRE means Financial Independence, Retire Early and is a term from the book Your Money or Your Life by Vicki Robin and Joe Dominguez, which was first published in 1992. A revised and updated version was released in 2008 and again in 2018.

The aim of the book, according to comments by Robin, is not to convey a master plan for early retirement it is to show people how to live well while consuming less to have a more rewarding life while wasting less of the worlds resources. Or, as Robin put it, If you live for having it all, what you have is never enough.

Playing With Fire : How Far Would You Go For Financial Freedom By Scott Rieckens

In this book, Emmy-nominated producer Scott Rieckens shares his familys financial independence journey and their seven steps to FIRE.

Prior to joining the FIRE movement, the Californian entrepreneur seemed to have it all. The happily married father had a two-year-old daughter, drove a BMW, and had a boat club membership.

But maintaining an affluent lifestyle weighed him down, and he found himself overworked and depressed.

This book narrates how the Rieckens family downsized and exchanged their beach-town lifestyle for something bigger: a simpler, happier, healthier, and more creative life.

But what if you didnt depend on a paycheck? What would you choose to do then? FIRE, ultimately, offers that freedom.

~ Scott Rieckens, Playing with FIRE

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Retire Early With Real Estate

Retire Early With Real Estate is a book by Chad Carson. It was published in 2018. This book tells the story of how the authors were able to retire early by investing in real estate.

The book provides practical advice on how to leave the 9-5 grind behind and achieve monetary freedom through real estate investing.It covers various topics such as investment strategies, financial analysis, and risk management.

It also includes case studies of successful real estate investors so that you can learn from their experiences. This book is a great place to start if youre interested in retiring early by investing in real estate.

Retire Before Mom and Dad is a book by Rob Berger published in 2019.

This book guides you to unlock the power inside you that is holding you back from attaining financial independence. It covers diverse topics such as frugality, investing, and side hustling.

Rob explains how you can get out of debt, save cash, and invest for the future. His relatable writing style makes the concepts easy to understand. If youre looking for motivation and inspiration, this book is for you!

Quit Like A Millionaire Next Door By Kristy Shen And Bryce Leung

You might know Kristy Shen and Bryce Leung from their scrappy Millennial Revolution blog. They retired at age 31 and now travel the world, blog, and write awesome books .

Their financial book Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required is definitely not a childrens book, but the language and storytelling is simple enough for all ages to understand. It manages a perfect blend of motivation, personal stories, and ground-level tactics. And, amazingly, its funny to boot.

Shen and Leung didnt grow up rich. They worked hard, lived frugally, invested their money, and retired young. In other words, they embody the FIRE movements principles perfectly.

For a more personal and quirky take on FIRE, pick up a copy of Quit Like a Millionaire.

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What We Can Learn From The Fire Movement

We have mixed feelings about the F.I.R.E. movement, but the one thing we can get behind 100% is the focus and intensity these people have toward reaching their retirement dreams. And no matter where you are on your financial journey, there are some key lessons we can all take away from the F.I.R.E. movement:

Build A Bridge Accountopen A Taxable Investment Account

If you want to retire early, the bridge account will help you bridge the gap between when you want to retire and when you can take the money out of your retirement accounts.

As you plan your retirement dream, set a retirement age target and figure out how much money youll need to live on each year. Then multiply that number by how many years you expect to use your bridge account. Thats how much you should have in your bridge account so you can live comfortably until youre able to access your retirement accounts without penalty.

For example, lets say you want to retire early at age 55. That means you need to have enough money in your bridge account to last about 4 1/2 years. So if you expect to live off of $50,000 each year in retirement, your goal should be to have at least $225,000 in your bridge account by the time you turn 55 years old!

Once youve maxed out your 401 and IRA, open up a brokerage account to serve as your bridge account.

Heres what we like about brokerage accounts:

• You can take out money anytime you like.
• There are no contribution limits.
• You can open an account through a brokerage firm and invest in mutual funds.

The one big drawback to these accounts is that you pay taxes on any money your investments earn. Its a good idea to sit down with your investment professional to work through the numbers and set a goal for how much you need in your bridge account to achieve your retirement goals.

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Book #8 Retire Early With Real Estate By Chad Carson

If you love real estate and want to pursue it as your primary vehicle for FIRE, then say no more. If youve read the best books on personal finance, close your eyes and buy this one! Chad has written everything about how to reach financial independence with real estate investments, especially rental properties.

Bonus Read: Rich Dad Poor Dad By Robert Kiyosaki

Like Dave Ramsey, Robert Kiyosaki has attained such celebrity status that he inevitably stirs up controversy in the media, and has plenty of detractors.

But his classic Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not remains a bestseller to this day, and with good cause. As with so many of the books above, it focuses less on the gritty details of budgeting and more on how to think differently about money. In particular, he argues that your money should work for you, not the other way around.

Kiyosaki is a huge proponent of real estate investing, but hes also quick to tell you that your house is not an asset, its an expense . Thats not advice that the middle classes like to hear which makes it that much more important.

While Rich Dad, Poor Dad is not a FIRE book per se, it introduces a range of concepts that come in handy with reaching financial independence. He relates these concepts through fun parables about how his rich dad and his biological poor dad taught him such different lessons about money.

And really, what is FIRE if not putting your money to work for you, rather than you working for it?

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‘a Random Walk Down Wall Street’ By Burton Malkiel

Burton Malkiel is a Princeton economist and advocate of the random walk theory . Not surprisingly, Malkiel also supports the idea of index investing and matching the market instead of trying to beat it, since trying to beat it is not sustainable over the long run, according to his research.

The insight from this book is one of the reasons that instead of trading individual stocks, I opt to invest in index funds and ETFs.

If “The Little Book of Common Sense Investing”is a 101 course in investing, I would say that “A Random Walk Down Wall Street” is the 201 course that takes things a small step further and gets into the complicated details a bit more.

The Best Books On Financial Independence Retire Early Summary

If you are interested in the best books on financial independence retire early, I recommend you try the following:

• Your Money Or Your Life
• Playing with FIRE
• The Simple Path to Wealth
• Quit like a Millionaire

Before spending money on buying these best books on financial independence, visit your local library to see if you can borrow them for free instead. Alternatively, you may be interested in listening to the best financial independence podcasts in addition to the best books on financial independence.

Should you be interested in starting your journey to FIRE, you may want to start with getting rid of your bad money habits first and find out about easy ways to save money.

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