In this article, we'll talk about great reads that might inspire you to get started and show you how you can begin your path towards financial freedom.
1. Rich Dad, Poor Dad
Rich Dad Poor Dad is a book from Robert Kiyosaki about the different kinds of mentality he faced growing up. Robert talks about his real father, or the poor dad, and the father of his best friend, or the rich dad, and the ways these men impacted his upbringing with their relationships about money. The book has a detailed account about what is to actually be rich and the myths about high income.
This book is a great beginning of the list because it describes very accurately the mentality of two entirely different worlds. One, you could say, is the old-fashioned mentality that tells you to simply keep earning a salary and working until you retire. The other one is responsible for building something that will work for you in the long run.
2. How to be Miserable
In the book “In How to Be Miserable”, the psychologist Randy Paterson talks about 40 behaviors, that you most likely have. These 40 behaviors, if followed, will eventually get you a lifetime of unhappiness. Of course, we are not interested in unhappiness, so the only reason you would read this book is to do the opposite. This way, you would get to live a happy life we so often search for.
This book is not about finances, but not surprisingly, one of the 40 habits mentioned in the book is our often unthoughtful relationship with money and things. If you are currently unhappy with your financial life, you might as well as read this book to understand which habits are keeping you that way.
3. The Little Book of Common-Sense Investing
John C. Bogle, the author of “The Little Book of Common-Sense Investing” established the Vanguard and the first index fund. This book will serve mainly as a guide for index investing, which can be helpful when you are designing your investment portfolio. John also explains in his book the reasons why this can be a great strategy for Americans, mostly keeping your cost of investing very low.
Before deciding on whether or not to read this book, keep this in mind: It was also recommended by Warren Buffett in his 2014 annual shareholder letter. If you want to know more about index investing, this book can show you how easy and effective it is to invest in index funds.
4. Your Money or Your Life
“Your Money or Your Life” is a personal favorite, as this book by Vicki Robin was the one that illuminated me on financial independence and how to achieve it.
“Your Money or Your Life” offers readers a nine-step guide to controlling finances and achieving Financial Freedom. The main idea behind the book is to live financially independent so that you can enjoy your life rather than just make a living. The book offers concrete actions and a practical approach, as well as the grand concepts of Financial Independence. Once you learn about your attitude towards money and learn to adjust it, you will have all the right tools to get out of debt, start saving money, and ultimately achieve Financial Independence.
All you need to know about the FIRE society is in this book, as well as many valuable lessons and concepts that can change your life completely.
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