Skip to main content

Recommended Resources

These are some of the books I have read and found useful on my journey to financial independence. The synopses below are my own and everything that makes this page I would rate 5 stars.

Financial Independence Books:

The Simple Path to Wealth was written by JL Collins as a compilation of posts he made over at his great blog of the same name. The posts were originally formed as letters to his daughter who wanted the freedom of financial independence like her father, but didn't want to geek out over the details like he did. So JL Collins summarized the steps she would need to take to follow his path.

Set for Life was written by BiggerPockets CEO and BiggerPockets Money Podcast co-host Scott Trench when he was in his mid 20s, so a great one for those looking to get started early! It is a summary of key ideas that drive financial indpendence, with a look at the major expense categories and what to do about them as well as the different asset classesSlightly slanted towards Real Estate, given that's the focus of BiggerPockets. that can help generate passive income.

Rich Dad Poor Dad is an easy read, couched in a self biographical account of Robert Kiyosaki growing up with his own father who played by the traditional rules of getting a good education, working a job, and buying ever more stuff, but never getting anywhere, versus his friend's dad who understood how buying assets instead could create ever increasing wealth. Robert leans towards real estate and business ownership so the book is light on information on paper assets and does not really cover actionable steps (see The Simple Path to Wealth or Set for Life for that), but it is a great starting point to get into the mindset of buying assets and avoiding debt.

Self Improvement Books:

Don't be fooled by the title, Steven Covey's classic is not some gimmicky seven step program, but core principles to make you more effective in all areas of your life that happen to be organized into seven categories.


Popular posts from this blog

Thrifty Thursday - Save Thousands on Your Phone Plan

Recurring expenses are insidious.  Companies love signing you up for subscription services as it means a consistent revenue stream by default.  The burden is on the consumer to take action, but momentum and inaction usually win out and the payments keep getting made. Taking a hard look at these subscriptions and other recurring payments can be very effective in reducing annual expenses, thereby lowering your Target FI Number and leaving more money for saving and investing .   Some expenses that don’t bring enough value can be eliminated.   Others can be greatly reduced with a little intentionality (just get a month or two of that streaming service to binge your favorite show, no need to leave it renewing for the whole year!)   However, there are some that are necessary but we can work on reducing their impact. One of my favorite hacks is switching to a low-cost cell phone plan offered by a Mobile Virtual Network Operator.    MVNOs lease bandwidth on existing cell towers ins

Intentional Spending

Your spending is an important factor in your financial independence journey. It effects the rate at which you can save and invest while in the accumulation phase and is also a critical factor in calculating your Target FI Number. When accumulating wealth, the amount you can save and invest is a simple calculation: what you make minus what you spend.  Like many of the levers we talk about, your spending has a non-liner effect on your FI journey.  Spending slightly less also means saving slightly more and both of those quantities are found in the formula for Stash Rate , leading to a multiplied effect. $$ Stash Rate = {Annual\ Savings \over Annual\ Expenses} $$ As we saw in the Stash Rate article, decreasing expenses leads to an exponentially increasing rate of wealth building. On the other side of financial independence, the level of spending in your drawdown phase directly determines your Target FI Number. $$ Target\ FI\ Numbe

Thrifty Thursday

Introducing Thrifty Thursday. On Thursdays, I’ll post a quick article with a tip or life hack to help with Intentional Spending . These will fall into three basic categories: Freebies are life hacks to get something for nothing! Maybe there’s no free lunch, but there are plenty of things you have already paid for in one way or another and just need to take advantage of, or that are being offered in hope of future business. Cost Cutters are the things we all need, that you are probably already buying in some form, but cheaper! Worth It are things that might not look like savings up front, but could be worthwhile investments, eventually leading to more savings. They may also be actual splurges, but with a good value and totally worth it! Check out the articles so far: Freebies The Library Cost Cutters Hack your Housing Save Thousands on Your Phone Plan Worth It Upgrade to LE