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.
Book Preview
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