FIRE (Financial Independence Retire Early) – the concept, much as its element name-alike, is catching air. In recent years, awareness and resources around this phenomenon have leaped. But while you might have read numerous finance books, today, Secvolt- your route to FIRE, brings you a list of the best books on financial independence.
Concept of F.I.R.E (Financial Independence Retire Early)
Before we jump on the books directly, we must brush up on FIRE. Now, early retirement is not a new concept but achieving financial independence, and being able to cover your expenses with passive income, is what constitutes FIRE. People hold different notions about FIRE.
But ultimately, the journey to FIRE changes how you perceive things from a financial and lifestyle perspective. And what better way to understand the concept than in the words of experts & practitioners? Thus, if you’re interested in learning about & pursuing FIRE, the list of best books on financial independence is an incredible place to start. Without any further ado, let us begin with the books that will take you down the FIRE road:
Book #1 “Your Money or Your Life” by Vicki Robin and Joe Dominguez
Writers succeed at changing how you think about money, budgeting, decluttering your life, and much more. The chapters that stand out are the mindset ones, the four pillars of financial independence, frugality, and the ‘real hourly wage calculator.’ It is one of the books that started the FIRE movement; an updated version came out in 2018. It covers recent trends such as the gig economy, online tools like Mint, and passive index fund investing.
Book #2 “Quit Like a Millionaire Next Door” by Kristy Shen and Bryce Leung
Blend motivation, exquisite detail, simple language, beautiful storytelling, ground-level tactics, and a balance between charts, graphs & illustrations. What do we get? This amazing book! Writers living the ideal FIRE life have put down everything they’ve learned here. And this is what makes it one of the best books on financial independence.
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 you’re looking to convince a friend to be on board with the FIRE movement, then this is where you start.
Book #4 “The Simple Path to Wealth” by JL Collins
This book is a series of blog posts JL wrote on his website about stock investing, intended for his college-bound daughter. He focuses on investing, then covers a broad range of fundamentals- how to make the most of tax-advantaged accounts, safe withdrawal rates, average stock market return, investment during different phases of the financial market, and preserving your hard-earned wealth. Doing justice to its name is the SIMPLE path to wealth. What makes it exceptionally popular and one of the best books on financial independence is its simple and easy-to-follow steps & processes.
Book #5 “Financial Freedom” by Grant Sabatier
Sabatier covers basics like investing in stocks and real estate. He also tackles more mindset-oriented topics like how to change your relationship with money and how to maximize your happiness per dollar. One of the best books on financial independence, ‘financial freedom’ is a step-by-step guide in 14 chapters to help you make more money in less time and create more freedom in your life.
Book #6 “The 4-hour workweek” by Tim Ferriss
Yet another book that changes how you think about money, your career, and the value of your time. Parts of the book focus on automating your business and building a passive income lifestyle business. With entrepreneurship and side hustle at the core, Ferriss’s masterpiece has originated concepts like geo arbitrage, lifestyle design, mini-retirement, and more.
As we move forward with our list, the books to come are the books that focus on one or two elements at large. At the same time, these books double as the best books on personal finance. Like, some teach you FIRE with real estate, in particular. Others include index funds or entrepreneurship. There are other elements as well, of course. But if you want to gain an in-depth knowledge of FIRE in a particular field, then you know which hardcovers to pick.
Book #7 “I will teach you to be rich” by Ramit Sethi
With the best of the best books on financial independence, Sethi makes a strong case for simplified financial writing. If you want to learn how to build a successful business without falling into the common trap of overspending and lifestyle inflation, you now know what makes the perfect read.
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 you’ve 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.
Book #9 “Set for Life” by Scott Trench
With a primary focus on house hacking and real estate, Scott lays out a step-by-step plan for anyone to smartly use real estate. The book mainly aims toward people who are single and in their 20s or early 30s. The creative approach that the writer has toward money makes this one of the best books on financial independence out there.
Book #10 “The Boglehead’s Guide to Investing” by Taylor Larimore, Mel Lindauer, and Michael Leboeuf
Talk about the best books on financial independence, and we would not include one of the best books on investing. Possible? Not at all.
Want tax-efficient recommendations, want to make the most of your money? Here is the answer.
Focused on index fund investing, this guide gives you a comprehensive behind-the-scenes look at how and why investing in index funds works. It also provides you with the steps on how to do it. Additionally, it teaches how to build and manage your own two or three funds investing portfolio without needing a financial advisor.
Last but certainly not least, we have two bonus reads for you. As we all know that it is all about the MINDSET, any list of the best books on financial independence would be incomplete without the masterpieces that aim at changing your mental wiring around money.
Book #11 “Rich Dad Poor Dad” by Robert Kiyosaki
Questioning the conditioning and not challenging what we’ve learned so far, Kiyosaki makes a strong case for why FIRE is about making the money work for you. On your road to financial independence, you might need the jargon, but above all, you will need the mindset, and that’s where this book comes in!
Book #12 “The Art of Living” by Thich Nhat Hanh
The non-technical that no one else will give you makes it one of the ‘best books on financial independence.’ One of the blocks that one might face on their journey to FIRE isn’t the techniques; it is the choices. This book will guide you on your path to financial independence.
So above were our suggested reads on FIRE (Financial Independence / Retire Early)
You have heard the saying, “It’s easier said than done.” You’ve also had a look at the best books on financial independence. In case you are wondering now where to start it practically? How to bring this knowledge on paper to reality? Which book is your favorite? Which one is over-rated, under-rated? Did we miss some books? Mention in the comments section below.
How can SECVOLT Help the Followers of FIRE Movement?
Well, SECVOLT – Global Investment Management Firm is the place that can help you achieve financial independence. We give you the returns that will allow you the space for your desired lifestyle. When you get on board with us, we put in our expertise and applications to give you the kind of returns you deserve. Keep your financial worries aside, and start preparing for an active retirement life while we put your money to work for you.
So, how about you take those old itineraries out, lead a meaningful life, enjoy your work, and sip some margarita on the way while we put your money to work for you?