Financial Independence and Early Retirement reading list

Here is a short list of some of the books every looking to become financial independent and retire early Entrepreneur should have on their to read list.  It is by no means a complete list.  Here is the link for a reading list about entrepreneurship?  If you have suggestions please leave a comment below.

For more than twenty-five years, Your Money or Your Life has been considered the go-to book for taking back your life by changing your relationship with money. Hundreds of thousands of people have followed this nine-step program, learning to live more deliberately and meaningfully with Vicki Robin’s guidance. This fully revised and updated edition with a foreword by “the Frugal Guru” (New Yorker) Mr. Money Mustache is the ultimate makeover of this bestselling classic, ensuring that its time-tested wisdom applies to people of all ages and covers modern topics like investing in index funds, managing revenue streams like side hustles and freelancing, tracking your finances online, and having difficult conversations about money.

A strategic combination of smart financial choices, simple living, and increased self-reliance brought me financial independence at 30 and allowed me to retire from my profession at 33. Early Retirement Extreme shows how I did it and how anyone can formulate their own plan for financial independence. The book provides the principles and framework for a systems theoretical strategy for attaining that independence in 5-10 years. It teaches how a shift in focus from consuming to producing can help people out of the consumer trap, and offers a path to achieving the freedom necessary to pursue interests other than working for a living. The principles in Early Retirement Extreme show how to break the financial chains that hold people back from doing what they truly want to do. The framework has been used by many people over the last few years to accomplish a variety of goals. It provides people a means to achieve almost any goal, whether it’s debt-free living, extended travel, a sabbatical, a career change, time off to raise a child, a traditional retirement, or simply a desire for a more resilient and self-sufficient lifestyle

Since money is the single most powerful tool we have for navigating this complex world we’ve created, understanding it is critical.
Unfortunately, benign neglect of things financial leaves you open to the charlatans of the financial world. The people who make investing endlessly complex, because if it can be made complex it becomes more profitable for them, more expensive for us, and we are forced into their waiting arms.
Here’s an important truth: Complex investments exist only to profit those who create and sell them. Not only are they more costly to the investor, they are less effective.
The simple approach I created for her and present now to you, is not only easy to understand and implement, it is more powerful than any other.

The Richest Man in Babylon by George S. Clason

A review as written by my 12 year old daughter:

The 7 simple rules of money 1) save money 2) don’t spend more than you need. 3) invest wisely. 4) avoid investments that sound too good to be true. 5) own your home 6) Ensure a future income protect yourself with life insurance. 7) aim to become wiser and more knowledgeable.

Babylon was  the wealthiest city in the world at the time of its height because its people appreciated the value of money.
 
It’s simple to say, but many people never achieve a serious measure of wealth because they never seek it.  They never truly seek it, focus on it, and commit to it.
 
You should save at least 1/10th of what you earn. More if you can afford to do so.
Surround yourself with people who are familiar with money, who work with it each day, and who make lots of it.
 
Enjoy life while you are here.  Do not over-strain to save. 
 
What each person calls their “necessary expenses” will always grow to match your income unless you resist that urge.  Do not confuse your necessary expenses with your desires.
 
Increase your ability to earn.  Improve your skills. As you profect your craft, your ability to earn more increases.
 
If you desire to help your friend do not do so in a way that brings their burdens onto your.  There are many ways to help people.  You don’t have to choose the ways that restrict your time, money, energy, or ability to care to yourself.
 
The soul of a free man looks at the world as a series of problems to be solved. Meanwhile, the should of a slave whines, “What can I do?”
 
If you are in debt, live on 70% of what you make.  Save 10% for yourself. Use the remaining 20% to repay your debts.
 
Work attracts friends who admire your industriousness.  Work attracts money and opportunity.  “Hard work is the best friend I’ve ever had.”
The Millionaire Next Door: The Surprising Secrets of America's Wealthy by Dr. Thomas J. Stanley and William D. Danko

The bestselling The Millionaire Next Door identifies seven common traits that show up again and again among those who have accumulated wealth. Most of the truly wealthy in this country don’t live in Beverly Hills or on Park Avenue-they live next door. This new edition, the first since 1998, includes a new foreword for the twenty-first century by Dr. Thomas J. Stanley.

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