Financial independence is a dream goal for the vast majority of people. Whether that’s now or in twenty- or thirty-years’ time, it’s a common goal for everyone. The growth of financial independence books has enables people to learn tactics and ethos from the best. Moreover, providing confidence and understanding to take hold of their financial future by managing their money better.
The first steppingstones that are reiterated throughout these books is to pay yourself first. Whether that’s to pay off debt to start with, this is the first habit to establish. It doesn’t stop there, in-depth practical and theoretical methods on how to invest. Furthermore, how to sustain a positive relationship with money, create a nest egg and save for retirement. The ultimate aim is to remove common money pitfalls from your life to stay on the path to financial Independance. All these recommended financial independence books have valuable resources for your financial journey which your future self will thank you for.
Financial independence books
Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!
Robert Kiyosaki’s “Rich Dad Poor Dad,“ has been around for over 25 years. It is still one of the most popular personal finance books around to this day. Kiyosaki shares his learnings from growing up from his father “poor dad” and his friend’s father “rich dad”. He destroys the myth that you need to earn a high income to become rich. Furthermore, questions whether your house is an asset and provides his own definition of what an asset and a liability is. He also touches on what you should have been taught about money as kids and outlines principles for future financial success.
Money Master the Game: 7 Simple Steps to Financial Freedom.
Tony Robbins’ “Money Master The Game” provides guidance for every income level to become financially independent. He does this through creating an easy-to-follow lifetime income plan. He provides examples of how to get your financial house in order to start with. There after provides extensive research and interviews with more than 50 of the most renowned financial experts in the world. Experts such as Ray Dalio and Warren Buffett.
The best aspects I found from the book was the mechanism to forecast what your beautiful life looks like. Furthermore, the actual portfolio allocations of the best investors use which you can follow to achieve your goals today.
The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness.
Morgan Housel’s The Psychology of Money shares short stories highlighting the strange ways people think about money and teaches you how to understand of one of life’s most important topics. Commonly investing, personal finance, and business decisions are math-based, where formulas tell us exactly what to do. Housel highlights that in the real-world people don’t make financial decisions on a spreadsheet. They make them at the dinner table, where personal history, ego, pride, marketing, or someone’s own unique view of the world, is scrambled together.
I Will Teach You How To Be Rich
Ramit Sethi’s I will Teach you How to be Rich explores and educates how to effectively manage your finances, demolish debt, save better and get the most out of your bank accounts, credit cards and investments. With the added bonus of a detailed 6-week program to help you step by step.
As financial independence books go, his alternative view to daily spending is refreshing and doesn’t recommend reigning in the small purchases and even recommends spending extravagantly on things you love although you need to be sure it is something you love.
The Total Money Make Over
Dave Ramsey’s The Total Money Make Over provides the simplest, most straight-forward game plan for completely making over your money habits. Dave also has a very successful Youtube channel which provides helpful personal finance advice as well. Some key takeaways from the book are: ways to dismiss the initial denial stopping you from committing to being wealthy, how to gain a 3-month emergency fund and dismiss your debt (apart from your mortgage) and ways to maximise your journey to financial independence.
Unshakeable: Your Guide to Financial Freedom
No matter your salary or stage of life you’re in, Tony Robbins’ Unshakeable gives you the tools to achieve your financial goals quicker than you ever thought along with the mindset and game plan to thrive and not just survive.
This builds on the principles in Money: Master the Game and offers the reader specific steps they can implement to protect their investments while maximizing their wealth. Robbin’s is an inspirational individual who has helped millions of people from celebrities to homeless people grow mentally and financially for decades.
The Millionaire Next Door: The Surprising Secrets of America’s Rich
The Millionaire Next Door is a helpful book for understanding who the rich are and the key traits the wealthy use to become and maintain their wealth. There is in-depth research provided in the book to give detailed background to the points made. Even though the research is based on America’s wealthy, the principles highlighted are interesting to see how habits of the wealthy can be replicated wherever you are in the world.
The Richest Man in Babylon
The Richest Man in Babylon, is a classic personal finance guide that has aided in generations of personal success and one of the bestselling financial books of all time. The main learning points are: Advice on how to acquire money, keep it, and put it to work.
Explanation on why “paying yourself first” will increase your savings.
How to attract “good luck”
The best investments for your future
Why it’s easy to manage your own finances.
Financial independence books on the go
Audible
These can all be found on Audible as an alternative to the hard book. Audible is a handy time saving app which makes getting through your favourite books convenient. The obvious key difference of using Audible compared reading is the ability to listen and any point of the day. Moreover, being able to fast forward the speed of the narration to 1.5x to super charge the content consumption. For someone with slow reading in the first place this app has given me the chance to read books rapidly. The other bonus is the monthly free token you get along with the membership. If you don’t use it, it rolls on into the next month. To purchase extra books in the month, the tokens to do so are considerable cheaper as well than purchasing a physical book.
My RECOMMENDATION of the BEST Financial independance book
Whether you’re done with living month to month or have started on your financial independence journey and looking for more financial advice. The top overall personal finance book for me is “Rich Dad Poor Dad,“ by Robert Kiyosaki. He walks you through his journey of financial education through managing the conflicting views from important people in his life. This point in itself is why I think the book is so powerful as everyone can relate to it. The are socially acceptable paths that schools, universities and society promote. Whereas the other path is unknown and scary but is where wealth is made which “Rich Dad Poor Dad” explains.
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