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in Financial Independence | Retire Early · April 28, 2021

3 Books To Get You Started on Your Journey To Financial Freedom

If you want to get started on your financial freedom journey and retire early, you must read the following books.

Rich Dad Poor Dad by Robert Kiyosaki.

You may have already read this book, but if you have not, I highly recommend you do. This is my all-time favorite book. I was 20 years old when I first read it and it planted the seed that has led me to where I am today. When I first read Rich Dad, Poor Dad, I told myself I wouldn’t allow myself become Poor Dad and fall into the rat race. Unfortunately, I failed miserably at that. 10 years later I find myself deep in the rat race. In my defense, the first time I read it I was still in school, so I didn’t fully understand what it was like to be trapped in the rat race. It makes complete sense now and I wish I had applied the lessons from this book earlier.

This is the ONLY book my husband, Ryan, has ever read and it was then when he became more interested in getting out of the rat race.

Anyways, if you want to get out of the rat race and become financially independent, I HIGHLY recommend starting with this book.

Quit Like A Millionaire by Kristy Shen & Bryce Leung

This book is really good! It is the first book I read on early retirement and the reason why I am now pursuing FIRE (Financial Independence, Retire Early). I didn’t think early retirement was possible until I read this book. It made me realize that becoming financially independent was easier than I thought. Prior to this, I had this really complicated plan to get me out of the rat race and the authors of this book just made it so simple and attainable. When I first read that they retired in their 30s, I thought it was some gimmick. However, once you read the book, it makes complete sense. In their book, they talk about what they did to retire early, how they structured their investments, and how they live off their investments today.

I don’t completely agree with all of their views. They are a bit too conservative with their investment strategy for my liking, but you’ll learn why when you read the book. The overall concept of this book will change your perspective on working until you die. This book applies to everyone including entrepreneurs, but I think that it will have the biggest impact on those currently employed.

The Simple Path to Wealth by JL Collins

I read this book right after “Quit Like a Millionaire” because I was so hyped up about the idea and I’m glad I did.

This book is a compilation of letters that the author wrote to his daughter teaching her about money. He explains in simple terms how to build wealth by participating in the stock market without buying individual company stocks. He discusses the investment strategy that led him to become financially independent and retire in his 40s. This book is for you if you want to learn about the different investment options and how they work. He explains Index funds, ETFs, 401ks, Roth IRAs, among others. This book builds a really good overall foundation, but if this is all new to you, you may need to dig deeper into specific items. There are so many ways to build wealth that no single book will provide ALL of the information.

My current investment strategy is based on what I learned from this book. For me, the two main takeaways from this book were: 1) invest aggressively early on and then switch to a more conservative approach once you are close to retirement. 2) invest in a low-index fund such as VTSAX from vanguard.com.

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New Blog Post 🚨 In this week’s blog post I am New Blog Post 🚨 In this week’s blog post I am going over why we bought a short-term rental, our experience so far. Plus what we did prior, during and after purchasing our first short-term rental in March 2022, a Cabin in Blue Ridge, GA.

Check it out at www.beyondjustnumbers.com or link in bio @beyondjustnumbers
I can’t stress this enough. Some investors are l I can’t stress this enough. Some investors are looking to make money from day one, but that’s not always the case. It wasn’t for us and I’ve talked to a lot of rookie investors who have told me “Thank God I have my personal finance situation together.” 

This is just my opinion. Do you agree? Let me know in the comments!

Want to join a free community of like-minded individuals? Join our REI Coffee Chat Community where we talk real estate investing, personal finance and financial freedom, and much more! Link in bio @beyondjustnumbers

Want to learn more about investing in real estate? Read my blog www.beyondjustnumbers.com

#realestateinvesting #realestateinvestor #creativefinancing #investmentproperty #buyrealestate #firemovement #debtfreejourney #financialindependenceretireearly #rentalproperty #investinginproperty #personalfinanceblog #wealthbuilding #planforretirement #investorlife #livefree #airbnb #moneyisfreedom #enjoythejourney #reicommunity #realestateinvestments #shortermrentals #cashflow #realestate
I used to think that investing in real estate was I used to think that investing in real estate was for the rich. I became in love with real estate while working for a real estate investment company that owned hundreds of units. This was back in 2011 and I was 20 years old at the time. I had less than 5 years permanently living the US, so I had no idea about anything. I grew up in Colombia and the only talk of money we ever had was the lack of it. 

The investors I worked for were a wealthy family, so naturally, I thought… Real Estate requires wealth. I don’t have wealth. Therefore, I cannot invest. 

I figured… well shit, I need become wealthy so I can invest in real estate. Eventually, after educating myself I realized how wrong I had it. You can build wealth BY INVESTING in real estate.

Took me a couple of years to figure it all out. Hence, why I didn’t start investing until 2019. I wish I had figured out earlier, but it is what it is. In just 3 years of investing in real estate, I was able to accumulate more wealth than I ever thought possible. 

Just to give you an idea…Did you know you could invest in real estate with as little at 3.5% of the purchase price? For a $150,000, that’s only $5,750. Buy a duplex that needs a little bit of work, fix it up, rent one side and live in the other. This will reduce your monthly expenses significantly, save the money and do it all over again.*

Of course it’s not that simple, but it’s also not that difficult. There are some particular steps and considerations which is  why I recommend doing further reading on the subject. 

Book Recommendation:
✅“The House Hacking Strategy” by Craig Curelop and ✅“Investing in Real Estate with No (and Low) Money Down” by Brandon Turner. 

#realestate #realestateinvesting
🚨 New Blog Post! Continuing the “Getting Star 🚨 New Blog Post! Continuing the “Getting Started in Real Estate Series” 

You’ve found a property either on your own or through a realtor, you’ve run your numbers, you’ve got a lender and now you are ready to make an offer. What’s next?

In this post I want to discuss a few items:

✅Key components of a real estate contract
✅How do you make a compelling offer to ensure you get the property you want
✅The main contract contingencies and how they work
✅Communicating with your realtor

I also provide real examples of what we have done personally. 

Check it out at www.beyondjustnumbers.com

Let me know what you think!
If I listed all of the hats, I’d never end 😂. If I listed all of the hats, I’d never end 😂. Anyone else? Show me the multiple hats you wear and tag me. Let’s have fun with some reels.

Trying to get good at the real game like @investinginyourwealth. How did I do?
The fact that you are not where you want to be doe The fact that you are not where you want to be doesn’t mean you won’t get there. Greatness takes time. Focus on what you control.

And remember, it’s okay to pivot.

#mindset #realestate #firemovement #realestateinvesting #realestateinvestor #rentalpropertyinvestor #rentalproperty #cashflow #motivation #financialfreedom #financialindependence #financialindependenceretireearly
We see a lot of advice around hiring a real estate We see a lot of advice around hiring a real estate friendly CPA. However, when you look up  CPAs that specialize in real estate, they can be pricey.  However, that doesn’t mean that other CPAs or tax professionals aren’t good. They might not be particularly aware of certain items, but they can research and collaborate with theirs peers. Perhaps it may require you to do a little of work to compensate. Things you can do:
✅ listen to The Real Estate CPA podcast or join the Facebook group
✅follow social media accounts of the pricey Real Estate CPA and take notes of what they are saying
✅attend free educational events 
✅read BiggerPocket book on Real Estate taxes 
✅if you know anyone working with a really good Real Estate CPA firm, ask them what they are doing

Then use that to go your CPA or tax professional and be like “Hey, is this something we can do for me?” They’ll probably say, “Let me look into it”. 

If they are good, they are going to research it and/or ask their CPA peer group. (CPAs and tax preparers also have Facebook groups where they collaborate with each other).

Here is a piece of advice, if they tell you “No, we can’t use this loophole or no, you don’t qualify to use this strategy” —> Ask WHY and “How can I qualify in the future?.” This way you confirm they did their homework and aren’t just being lazy. Don’t just take no for an answer. You can then get a second opinion by asking a question in a forum or to your peers.

So don’t panic if you don’t have a real estate CPA or tax professional. 

Next video I’ll be answering the question… “Can I skip the tax professional altogether and do my own taxes?”

#realestate
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