[–]redd1tzero 16 points17 points18 points 3 years ago (2 children), The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life by JL Collins, [–]FiSleuth24M | 60% SR | Northeast | Data Analytics 2 points3 points4 points 3 years ago (1 child), [–]SteveRD1 2 points3 points4 points 3 years ago (0 children). For reading up on FIRE, I narrowed it down to these three choices. Your wants and needs aren't written in stone, and less spending is powerful at any income level. Scott Rieckens is an Emmy-nominated film/video producer, serial entrepreneur, and author. Simplifying and redesigning your lifestyle to reduce spending. Best Financial Independence Communities. That said, I think you have better options. If You Can. 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. The Millionaire Next Door is a good book and it is about financial independence (despite what another commenter said). If you … When participating on this subreddit, please be mindful of the ways in which you are lucky. Financial independence refers to the state of reaching a point of sufficient wealth where one is not required to work full time —unless they want to — in order to maintain a desired lifestyle. That said, I think you have better options. It is largely regarded as one of the best books on financial independence, retire early (FIRE). Prepare to chuckle and roll your eyes. [–]entropic35% SR (2019), 22% progress 2 points3 points4 points 3 years ago (1 child). 2nd to that. 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. (self.financialindependence). He has authored multiple books and courses as well as being a contributor to Entrepreneur magazine. Audible. Which of these three books is the best for a first read on FIRE? I created a little calculator to figure out exactly what my 401k contribution election should be to front load it early each year, reach the annual max, and still get the full employer match. [–]CapitalNumb3rs 14 points15 points16 points 3 years ago (2 children). Intelligent Investor. I'd recommend it. It was really weird. [+]CLTY[S] comment score below threshold-7 points-6 points-5 points 3 years ago (1 child), It hasn't been updated - one of the suggestions is from there, the other two are from talking to FIRE folks on here. [–]AskWhatNext48M, Author, FIREd 9/2018 1 point2 points3 points 3 years ago (0 children). 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. and join one of thousands of communities. threads. I'd suggest reading the stock series on his blog, it's quite good. Excellent book on how to retire and make it last. Slow and steady. PM me and I'll give you the link. 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. 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 . [–]Scimichef 0 points1 point2 points 3 years ago (2 children). Which one is the best? Broke Millennial: Stop Scraping By and Get Your Financial Life Together by Erin Lowry. 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. To get you started, we've created a list of the 12 best books for those pursuing FI. I also like Set for Life, which is a new book from Scott Trench. ), and he is so excited because interest rates will drop and he will be able to spend the banks money, etc etc. If you have any suggestions / corrections / etc, please message the moderators. The purpose of this subreddit is to discuss FI/RE strategies, techniques, and lifestyles whether you are retired or not. The Simple Path to Wealth . Best Net Worth Tracking Tools. My journey so far. The list of the financial independence books below is a game changer. 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. [–]Scimichef 2 points3 points4 points 3 years ago (0 children). Financial independence is a journey and a process of self-exploration, discipline, and discovery. Archive of previous "Help Me FIRE!" I graphed out all the guesses from the contest to guess the S&P Close on 12/31. This is a place for people who are or want to become Financially Independent (FI), which means not having to work for money. Well-written: This one goes without saying. Who is planning to leave little to no estate, and how has that affected your FIRE number/planning? Best Financial Independence Retire Early Books. The 2018 version even features a foreword from Mr. Money Mustache. it was just weird stuff. These are books I have so far, please suggest more or give your opinions! Listed below are the Top 5 Best Books about Financial Independence in 2020. It's not really about FIRE, but is probably the closest. Then it would make sense to read that one first. The Millionaire Next Door is a good book and it is about financial independence (despite what another commenter said). Early Retirement Extreme is a great book, and I actually think that's the best place to start. THIS IS A TEMPORARY SPAM-FIGHTING MEASURE. Scott has spent his career as a storyteller connecting people with ideas. By saving … Inspired by the legendary Vicki Robin, he left college unemployed with only $2.26 left in the bank.Just 5 years later, he was worth over a million. The basic goal of … Remember, that money is not the goal, time is. 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. "Build the life you want, then save for it.". [–]jdroth[50 / Portland, Oregon] [FI since 2009] 13 points14 points15 points 3 years ago (4 children). It's a good choice. That said, if you don't meet this requirement you can still submit a post for moderator approval by simply posting as usual. Within their pages, you’ll uncover time-tested strategies to … Becoming financially independent requires hard work and a healthy attitude towards money, but also a degree of privilege. 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. 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. Secrets of the Millionaire Mind. Financial Independence, Retire Early (FIRE) is a financial movement defined by frugality and extreme savings and investment. The Simple Path to Wealth was written by Jim Collins as a result of failed attempts to educate his daughter about money. I'm not a fan at all of the other two. (well... lurking), [–]CapitalNumb3rs 14 points15 points16 points 3 years ago (0 children). Published in 2017, this second "Badass" book takes more of a financial angle than the first one. Archive of previous Daily Discussion threads. Set for Life is a great book for people who want a road map of what a … Thanks for the in-depth reply! In fact, FI can sometimes be an addiction to money in another form – simply optimizing and saving, without stopping to smell the roses. As others have mentioned, the investment advice in early editions is outdated, but Vicki Robin (one of the authors) updated the book a few years ago with more modern ideas. The book really challenged my perceptions of wealth and spending habits. oh man i am so glad you touched on his "stream of consciousness" - i actually hated listening to his podcast simply for that. His talking style comes through in his writing, and each of those things you heard on that podcast were advocated for in the book. Daily FI discussion thread - December 18, 2020, 24M | 60% SR | Northeast | Data Analytics. Your Money or Your Life is probably the classic, and it offers both inspiration and practical advice. This book is essential reading for anyone on the path to FIRE - Financial Independence and Retiring Early. Money only matters if it helps you live a life you love. My journey to $100k NW as a college dropout (22M). Millionaire Teacher. Best for: Inspiration. Before proceeding further, please read the Rules & FAQ! The Richest Man in Babylon. Can a single guy get a mortgage on his own? 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). That’s why I’ve compiled this list of the best books on the topic. Your Money or Your Life (Paperback) by Vicki Robin. © 2020 reddit inc. All rights reserved. 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. Building Wealth and Being Happy. This personal finance book, the winner of the 2015 EIFLE (Excellence in Financial Literacy Education), includes tips for teens to avoid what … And, at one book a month, this could be a full year's worth of great FI reading! Why not read one of the suggested books from this sub instead? Your Money or Your Life is probably the classic, and it offers both inspiration and practical advice. 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. The way I chose my favorite financial independence books was to define a few criteria for what a good financial independence book is. First up: Rich Dad, Poor Dad isn't a good option. Maybe read the book after that if you want more of what he has to say. I can't promote it here, but I have a free ebook on my website that covers the basics of FIRE. FIRE books teach you exactly how to do this. 1. 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. ChooseFI: Your Blueprint For Financial Independence by Chris Mamula, Brad Barrett, and Jonathan Mendonsa 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. I'm interested in opinions on rich dad poor dad. [–]inspired2apathy40% SR 1 point2 points3 points 3 years ago (0 children). Grant Sabatier of Millennial Money launched the Financial Freedom Podcast in 2018 to compliment his recent book titled “Financial Freedom: A Proven Path to All the Money You Will Ever Need“. I'm also a huge fan of a book called Work Less, Live More, which is all about semi-retirement. [–]rscar7750%SR, TX, Goal: 2.2 mm 2 points3 points4 points 3 years ago (1 child). FIRE Spreadsheet. Avoid it as a starter book. While … [–]CLTY[S] 3 points4 points5 points 3 years ago (0 children). The Art of Living by Thich Nhat Hanh. With so much to read, it can be difficult to figure out where to get started. Please read the FAQ and Rules above, then feel free to share your journey or ask for advice! Thanks for your patience! Now that I think of it YMOYL was written before the 4% rule and relies heavily on dividends and interest - still a good read. There’s free, a la carte, and various membership levels to listen to most financial independence books on the market. 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. Four Pillars of Investing. Random Walk down Wall Street 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. 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. There are lots of books out there, but most of them are overly wordy with little insight. Millionaire Next Door. Tough Nickel has a pretty good article highlighting many of the pitfalls of his writing style, credibility, and the ideas in his books. Also a good reminder on why you shouldn't time the market. Yes, it can be a bit technical, but that works great for most folks who are into FIRE. Financial independence … [–]inspired2apathy40% SR 3 points4 points5 points 3 years ago (2 children), [–]CLTY[S] 0 points1 point2 points 3 years ago (1 child). Oh, I didn't consider that one - I assumed it was more about value investing. Reddit Financial Independence and Early Retirement. Use of this site constitutes acceptance of our User Agreement and Privacy Policy. He seems like he could barely keep his storyline straight in the book, and rambles on his personal beliefs at times without providing good supporting evidence for his assertions. 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. Rendered by PID 13023 on r2-app-0dc70e46e7ff13865 at 2020-12-19 23:18:19.353604+00:00 running 406fa40 country code: US. [–]networkjunkie1 1 point2 points3 points 3 years ago (0 children). Intelligent Asset Allocator. Which of these three books is the best for a first read on FIRE. Please find below a list of suggested books by the subscribers of our subreddit. As a side note, we highly suggest looking these books up in your local library, in the spirit of frugality :). This subreddit deals primarily with Financial Independence, but additionally with some "RE" concepts. 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 listened to a podcast of his today and he advocates borrowing tons of money, not putting money in the stock market/401ks, not paying taxes, and said over and over how "contrary" his advice is, bla bla bla. Financial Freedom. 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. It's a good choice. 3. Little Book of Common Sense Investing. Updated January 22, 2020 . 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. It contains tons of practical advice, plus it covers the psychological side of things. The ultimate financial goal in many people’s lives is financial independence – having enough money that you no longer need to work for a living. Working to increase your income and income streams with projects, side-gigs, and additional effort, Striving to save a large percentage (usually more than 50%) of your income to accelerate achieving FI, Investing to make your money work for you, and learning to manage/optimize those investments for the unique nature of FI/RE, Gaining wealth for the purpose of excessive consumption, Taking the slow road, or the traditional road to retirement. I would have to go with The Millionaire Next Door. Get an ad-free experience with special benefits, and directly support Reddit. 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. 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. Thanks! This book is candid and funny, and if you’re like many of us, you’ll recognize yourself and your own habits in its pages. It's inspirational maybe, but overall Kiyosaki's advice isn't good. Edit: my assumption was completely off. It's mostly about passive investing but I think it's important to read as a investment consumer. (If you're less techy and more into psychology, though, it might not be the best place to start.) Daily FI discussion thread - December 19, 2020. 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Most folks who are into FIRE is useless but the concept is what got me.! Does n't have the time to read ( really? as a storyteller connecting people with ideas and. And how has that affected your FIRE number/planning both theory and practical examples of how to apply the to... Thread - December 19, 2020, 24M | 60 % SR | Northeast | Data.... And worthwhile approach to handling your Money or your Life ( Paperback ) by Vicki Robin the you... Ymoyl is useless but the concept is what got me started entrepreneur magazine each one presents a unique worthwhile! 'Ve only read two of these, but would definitely go with your Money or your Life probably! By saving … FIRE books teach you exactly how to apply the to.

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