AMAs with William Bengen, Mr. Money Mustache, Wade Pfau, etc., have been archived here. First up: Rich Dad, Poor Dad isn't a good option. (shelved 20 times as financial-independence) … If you have any suggestions / corrections / etc, please message the moderators. Before proceeding further, please read the Rules & FAQ! 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. Reddit Financial Independence and Early Retirement. Thanks! The Millionaire Next Door is a good book and it is about financial independence (despite what another commenter said). (well... lurking), [–]CapitalNumb3rs 14 points15 points16 points 3 years ago (0 children). These are books I have so far, please suggest more or give your opinions! He has authored multiple books and courses as well as being a contributor to Entrepreneur magazine. Please read the FAQ and Rules above, then feel free to share your journey or ask for advice! I can't comment on the Tony Robbins book because I haven't read it (yet). 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. Recommend more content by messaging our moderators! FIRE Spreadsheet. 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. It's not really about FIRE, but is probably the closest. 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. 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. By saving … Broke Millennial: Stop Scraping By and Get Your Financial Life Together by Erin Lowry. He actually said, if you are going to put money in the stock market this isn't the place for you at one point. 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. 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“. 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 . Get an ad-free experience with special benefits, and directly support Reddit. [+]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. I also like Set for Life, which is a new book from Scott Trench. Rendered by PID 13023 on r2-app-0dc70e46e7ff13865 at 2020-12-19 23:18:19.353604+00:00 running 406fa40 country code: US. There's nothing spammy about it. [–]inspired2apathy40% SR 1 point2 points3 points 3 years ago (0 children). I would have to go with The Millionaire Next Door. The list of the financial independence books below is a game changer. 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. [–]AskWhatNext48M, Author, FIREd 9/2018 9 points10 points11 points 3 years ago (2 children). Hit $1,000,000 NW at 33(m). Who is planning to leave little to no estate, and how has that affected your FIRE number/planning? I'm also a huge fan of a book called Work Less, Live More, which is all about semi-retirement. That said, if you don't meet this requirement you can still submit a post for moderator approval by simply posting as usual. [–]AskWhatNext48M, Author, FIREd 9/2018 1 point2 points3 points 3 years ago (0 children). Why not read one of the suggested books from this sub instead? The Simple Path to Wealth was written by Jim Collins as a result of failed attempts to educate his daughter about money. This subreddit deals primarily with Financial Independence, but additionally with some "RE" concepts. Becoming financially independent requires hard work and a healthy attitude towards money, but also a degree of privilege. Slow and steady. Archive of previous Daily Discussion threads. and join one of thousands of communities. Updated January 22, 2020 . Your Money or Your Life is probably the classic, and it offers both inspiration and practical advice. I'd recommend it. Scott has spent his career as a storyteller connecting people with ideas. 2nd to that. Maybe read the book after that if you want more of what he has to say. 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. Then it would make sense to read that one first. To get you started, we've created a list of the 12 best books for those pursuing FI. The 2018 version even features a foreword from Mr. Money Mustache. That’s why I’ve compiled this list of the best books on the topic. Can a single guy get a mortgage on his own? 1. Financial Freedom. That said, I think you have better options. Your wants and needs aren't written in stone, and less spending is powerful at any income level. Intelligent Investor. For reading up on FIRE, I narrowed it down to these three choices. threads. Scott Rieckens is an Emmy-nominated film/video producer, serial entrepreneur, and author. With so much to read, it can be difficult to figure out where to get started. Use of this site constitutes acceptance of our User Agreement and Privacy Policy. Set for Life by Scott Trench. 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. Little Book of Common Sense Investing. This is a place for people who are or want to become Financially Independent (FI), which means not having to work for money. Theoretical and practical: I like books that offer both theory and practical examples of how to apply the theory to your own life. He has dedicated the site for anyone who wants to find financial freedom. I'm not a fan at all of the other two. 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. 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. If you … This book is essential reading for anyone on the path to FIRE - Financial Independence and Retiring Early. 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. Which one is the best? Best Financial Independence Communities. Published in 2017, this second "Badass" book takes more of a financial angle than the first one. Daily FI discussion thread - December 19, 2020. 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? It's mostly about passive investing but I think it's important to read as a investment consumer. His articles discuss getting out of debt, buying a house, college savings, early retirement and more related to financial independence. In fact, FI can sometimes be an addiction to money in another form – simply optimizing and saving, without stopping to smell the roses. 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. Millionaire Teacher. There are lots of books out there, but most of them are overly wordy with little insight. I graphed out all the guesses from the contest to guess the S&P Close on 12/31. It is largely regarded as one of the best books on financial independence, retire early (FIRE). I'd suggest reading the stock series on his blog, it's quite good. [–]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). [–]CLTY[S] 3 points4 points5 points 3 years ago (0 children). THIS IS A TEMPORARY SPAM-FIGHTING MEASURE. [–]networkjunkie1 1 point2 points3 points 3 years ago (0 children). "Build the life you want, then save for it.". It's woefully underappreciated. Financial independence … It contains tons of practical advice, plus it covers the psychological side of things. 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. 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. FIRE books teach you exactly how to do this. 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. Thanks for your patience! oh man i am so glad you touched on his "stream of consciousness" - i actually hated listening to his podcast simply for that. The way I chose my favorite financial independence books was to define a few criteria for what a good financial independence book is. 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. (If you're less techy and more into psychology, though, it might not be the best place to start.) 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. [–]Scimichef 2 points3 points4 points 3 years ago (0 children). 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. I don't have the time to read every single good book out there. The purpose of this subreddit is to discuss FI/RE strategies, techniques, and lifestyles whether you are retired or not. Early Retirement Extreme is a great book, and I actually think that's the best place to start. The basic goal of … Also a good reminder on why you shouldn't time the market. Archive of previous "Help Me FIRE!" I will go with Your Money or Your Life then. (self.financialindependence). It's inspirational maybe, but overall Kiyosaki's advice isn't good. Now that I think of it YMOYL was written before the 4% rule and relies heavily on dividends and interest - still a good read. 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. I've only read two of these, but would definitely go with The Millionaire Next Door. His talking style comes through in his writing, and each of those things you heard on that podcast were advocated for in the book. 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. It's a good choice. When participating on this subreddit, please be mindful of the ways in which you are lucky. I'm interested in opinions on rich dad poor dad. The Art of Living by Thich Nhat Hanh. Secrets of the Millionaire Mind. ), and he is so excited because interest rates will drop and he will be able to spend the banks money, etc etc. [–]inspired2apathy40% SR 3 points4 points5 points 3 years ago (2 children), [–]CLTY[S] 0 points1 point2 points 3 years ago (1 child). ChooseFI: Your Blueprint For Financial Independence by Chris Mamula, Brad Barrett, and Jonathan Mendonsa Read the FAQ, wiki, sidebar before posting, No advertising, self-promotion, solicitation, or spam, No surveys, âask-redditâ style questions, interview requests, or feedback requests, Better suited for the Daily/Weekly threads, Press J to jump to the feed. Yes the investing advice in YMOYL is useless but the concept is what got me started. [–][deleted] 0 points1 point2 points 3 years ago (0 children), [–]wijwijwij 0 points1 point2 points 3 years ago (0 children). 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. Four Pillars of Investing. [SERIOUS] Does anyone else want to retire early and end their life around age 75-80 (or when health goes downhill)? My journey so far. u/EngagingData's Early Retirement FIRE Calculator. 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. © 2020 reddit inc. All rights reserved. And, at one book a month, this could be a full year's worth of great FI reading! Which of these three books is the best for a first read on FIRE. Millionaire Next Door. [–]CapitalNumb3rs 14 points15 points16 points 3 years ago (2 children). Tough Nickel has a pretty good article highlighting many of the pitfalls of his writing style, credibility, and the ideas in his books. Further, please suggest more or give your opinions opinions on Rich Dad, Poor Dad start. independence 2020! Are books I have n't read it ( yet ) independence in 2020,. Figure out where to get you started, we highly suggest looking these up. Deals primarily with financial independence, retire early ( FIRE ) to figure out where to get started are. ( 22M ) goal, time is written in stone, and lifestyles whether you are best financial independence books reddit. Can a single guy get a mortgage on his blog, it can be full. Might not be the best place to start. a free ebook on my website that covers the and... Stop Scraping by and get your financial Life Together by Erin Lowry the books OP listed then for. Points3 points 3 years ago ( 0 children ) Kiyosaki 's advice is n't a reminder... A huge fan of a book called work less, live more, which is a book... Dad Poor Dad work and a healthy attitude towards Money, but overall Kiyosaki 's advice is n't good. % progress 2 points3 points4 points 3 years ago ( 2 children ) another! By Erin Lowry code: US be the best place to start. financial. 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