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Personal finance books are extremely popular and there’s an endless number of excellent options available to us; some focus on saving, others on reducing debts. The books listed here are all focused specifically on the tried-and-tested methods and advice that can allow the reader to achieve full financial independence, meaning earlier retirement, more time spent on the things that bring you joy, and less worry and stress over your finances.
We have compiled a list of eleven excellent examples of financial literature that could provide you with extensive knowledge and inspiration, allowing you to begin your journey to financial freedom.
Best Financial Independence Books
1. The Simple Path to Wealth by J L Collins
The Simple Path to Wealth is marketed as a definitive roadmap to financial independence and a rich life. In the book, Collins gives a plethora of advice and information around personal finance and money management. He covers everything you would expect, from avoiding and reducing debts, advice on the stock market and making smart investments, to target retirement funds and avoiding investment scams.
Collins’ style is approachable, to-the-point, and often humorous. With an impressive back catalog of past careers and entrepreneurial endeavors, Collins has a wealth of life experience and states that this book is based on a number of letters he wrote to his coming-of-age daughter regarding money and smart spending and investments.
J L Collins aims to educate his readers on the common money mistakes people make and how to avoid them for a life of financial independence. He dispels myths and misconceptions about the stock market and the complex world of investing and explains how you can navigate this without falling into the many traps set by investment bankers.
The book has received excellent reviews and Collins is commended for his approachable, relatable style when it comes to discussing some complicated and hard-hitting topics. If you’re looking for an engaging and amusing read that will also be highly informative, this is a great choice.
2. The Millionaire Next Door by Thomas J. Stanley and William D. Danko
Thomas J. Stanley and William D. Danko have spent the best part of twenty years offering guidance to thousands of Americans when it comes to their personal wealth and financial freedom. With extensive combined experience and expertise, Stanley and Danko are able to give knowledgeable advice on just about everything there is to know when it comes to managing your money.
In The Millionaire Next Door, Stanley and Danko argue that the uber-rich and wealthy socialites or entrepreneurs that we see so often in the media driving flashy cars and living in huge mansions are in fact only a tiny portion of America’s wealthiest people. The majority, Stanley and Danko argue, are living modest lives, driving regular cars, and living in respectable but humble homes. They state the key to gaining and maintaining extreme wealth is through living below your means and never over-spending.
In this book, you’ll find the methods and habits used by millionaires to obtain extreme wealth without over-spending; generating high incomes and minimizing outgoings. This twenty-year anniversary edition includes a new foreword that tells us why Stanley and Danko’s advice is just as relevant today as at the initial time of writing.
3. Financial Freedom with Real Estate Investing by Michael Blank
For those who are looking into real-estate investing as a career option or even as a side-hustle, Michael Blank’s Financial Freedom with Real Estate Investing is widely considered a must-read book. With his investment company, Black currently controls more than $24 million in performing multifamily assets in the US, and through his training programs, he has helped thousands of people purchase properties.
Financial Freedom with Real Estate Investing is a bestselling book and is extremely informative and inspiring. Here, Blank teaches his readers what he considers to be the secrets of successful apartment building investment. By following the guidelines laid out in his ‘Financial Freedom Blueprint’, Blank claims readers could begin their real estate journey and quit their jobs within three to five years.
Blank gives advice on how to raise the funds needed for your first investment deal; how to get your offers accepted under any circumstances; how to analyze deals quickly and how to identify the best possible deals for you. The book gives readers all the information they’ll need to complete their first investment deal within twelve months.
Blank claims that apartment building investing is the only true way to achieve financial freedom and here he gives you all the information you need to get started.
4. Your Money or Your Life by Vicki Robin and Joe Dominguez
This is a great book for those who are new to personal finance and want some clear-cut, comprehensive guidance on how to get a better hold on their finances and ultimately achieve financial freedom.
In Your Money or Your Life, Vicki Robin and Joe Dominguez tell readers how to eliminate their debts and manage their money more effectively; making smart investments and saving more consistently. The book highlights Robin’s and Dominguez’s nine-step plan to obtaining full financial independence.
The book offers an eclectic mix of practical financial advice, including budgeting techniques and common money mistakes to avoid; and more reflective, personal guidance around daily habits, morality and the way that we as individuals view money and our relationship with it. Robin and Dominguez give some great tips on how to live a more minimalistic, eco-friendly life while saving money and becoming more independent.
Your Money or Your Life is widely considered to be one of the most influential and important personal finance books of the 20th century, with more than a million copies sold worldwide and widespread critical acclaim.
5. One Rental at a Time by Michael Zuber
Michael Zuber is another entrepreneur and personal finance mogul who attests to the value and financial freedom that real estate investment can bring to our lives. In One Rental at a Time, Zuber aims to dispel the common belief that real estate investing is an unrealistic career path for many people. He shows readers how to maximize their time and money by investing in real estate as a side hustle that will eventually enable them to quit their jobs and live a life of true financial freedom.
Zuber himself has used the methods set out in One Rental at a Time and now has numerous property investments that have enabled him to save consistently and live a life free of debts or financial strain.
The book is written in a narrative format, so it might be considered less clear-cut or to-the-point than some others that offer listed plans or guides to finance. But it’s an extremely interesting read that invites the reader to engage with Zuber on a personal level, learning about rental investments and personal finance through his own personal experience and life story.
6. Set For Life by Scott Trench
Scott Trench is an established real estate investor, broker, and CEO of BiggerPockets. He has a plethora of experience in generating wealth through real estate investments and has compiled his knowledge and guidance into his bestselling book Set For Life.
Set For Life advises readers on how to build a solid financial foundation that’ll allow them to continuously generate income throughout their life and achieve full financial freedom. Trench himself used the tools and methods laid out in this book to make his first real estate investment just three years after graduating from college and is now a successful entrepreneur enjoying total financial independence.
The book is aimed at young professionals looking for a way out of their monotonous nine-to-five jobs and a way to live their life with the freedom to do whatever they want while still generating a consistent stream of income.
Trench teaches his readers how to save more, triple their income in as little as three years, track financial progress, build effective money habits, and secure real assets while avoiding common money mistakes that could be detrimental to their overall wealth.
The book is extremely popular and Trench’s writing style is engaging and relatable. This is a great option for those who feel stuck in their regular jobs but dream of a financially liberated future.
7. Financial Independence Retire Early Workbook by Amon Browning and Christina Browning
Financial Independence Retire Early, or FIRE is a workbook designed to give readers a step-by-step guide to reaching financial independence. Amon and Christina Browning began their journey to financial freedom with the ultimate goal of retiring early. This is a goal shared by many others, but one that may be commonly perceived as unrealistic or overly grandiose.
This workbook shows readers how they too can retire early and enjoy full financial freedom by simply following the guidance and advice laid out by Amon and Christina Browning. They provide readers with advice on finding a suitable side hustle, saving more effectively, tracking and paying off debts, securing emergency funds, and living a more minimalist life to allow for extra savings and less overspending.
The workbook includes numerous spreadsheets and checklists for setting goals and prioritizing spending and savings. This is a great resource for those who want hands-on guidance in financial management.
8. Financial Freedom by Grant Sabatier
Self-made millennial millionaire, Grant Sabatier challenges readers to forget everything they thought they knew about money and wealth, offering what might seem like counter-intuitive, unorthodox methods and approaches to money management. In Financial Freedom, Sabatier gives a clear path to making more money in less time.
The book includes guidance on how to create highly profitable side hustles that can become passive streams of income or full-time business endeavors. He shows readers how to save more money without living frugally; travel the world on a budget, and think creatively when it comes to making money. Sabatier argues that there are so many ways to make money that we may be unaware of or feel are unrealistic for us.
His main focus is on doing all of this within a short time frame. This is by no means a get-rich-quick scheme or quick fix to all of your money problems, but it’s a realistic and practical plan for generating money quickly and achieving the lifestyle you want at a younger age.
The book has received excellent reviews from readers, critics and fellow financial authors. If you need a push in the right direction when it comes to financial independence, this might be a good place to start out.
9. Financial Fives by Gary Grewal
Financial Fives is written b Gary Grewal, a Certified Financial Planner and entrepreneur. At 23 years old, Gary started his own business, a reusable moving box company. In Financial Fives, Gary shares his wisdom from nine years as a financial professional, plus his personal experience with side hustles, making money, and living within a budget.
Throughout Financial Fives, you’ll find many tips for all aspects of your financial life. The chapters are “5 ways to …” In total, there are 325 tips that will help you to save money, increase your income, and make the most of what you have.
While financial freedom is the goal, the tips covered in Financial Fives are relevant to anyone at any stage along their financial journey.
10. Choose FI: Blueprint to Financial Independence by Chris Mamula, Brad Barrett and Jonathan Mendonsa
ChooseFI is an award-winning podcast hosted by Chris Mamula, Brad Barrett, and Jonathan Mendonsa. The success of the podcast led to the publishing of this book, which holds all of the advice and tools Mamula, Barrett, and Mendonsa consider to be vital when striving for financial freedom and better money management.
The book provides a basic framework that can be adopted and implemented into your daily life, fitting in with your lifestyle and goals. The authors state that this isn’t just another personal finance book, telling you how to live your life according to someone else’s methodology and experiences. Instead, they state that Choose FI is a blueprint from which you can build your own financial plan and strategy to enable you to obtain full financial freedom.
The advice is concise, simple, and based predominantly on common-sense. The key, according to Mamula, Barrett, and Mendonsa, is to simply get started and take action to achieve your goals. As well as overall guidance and practical tools, the book provides more specific information about things like cost-effective health insurance, housing, and smart investing. This book is a great all-rounder when it comes to personal finance.
11. Passive Income, Aggressive Retirement by Rachel Richards
According to Rachel Richards, passive income is the one true source of financial freedom. At 27, Richards retired from her job and was able to live entirely on the income generated through passive income streams, at the time amassing more than $10,000 per month.
Passive Income, Aggressive Retirement is Richards’ seminal guide to tried-and-tested passive income models that can be utilized by the reader to achieve financial independence much earlier than they ever thought possible. The guide provides advice on how to do this without living on an overly stringent budget; how to create consistent streams of long-term income with minimal effort, and how to eliminate the stress and anxiety many of us feel when it comes to money.
This book compiles advice from a number of passive income experts including Hal Elrod, Author of the bestselling book The Miracle Morning; David Osborn, multi-millionaire and real estate mogul, and Honoree Corder, author of more than fifty books and executive book coach and speaker.
Passive Income, Aggressive Retirement has allowed thousands of readers to find their path to financial independence. Everything you need to know about passive income can be found in this book, and Richards’ approachable, cohesive style makes it incredibly easy to adopt the advice and tools into your own financial management.
12. Playing with FIRE by Scott Rieckens
Playing with FIRE is Scott Rieckens guide to retiring early with full financial independence. It’s available as an audiobook and makes a great companion to any of the other books listed above.
Riecken gives a reflective look at his own journey after devoting his life to FIRE (financial independence retire early). He recounts his experiences as a working father, feeling stressed and overworked while trying to maintain the lifestyle he and his family had become so accustomed to, and how he broke out of this cycle to quit his job, cut his families expenses and set out on the path to financial independence.
He also includes plenty of powerful, inspiring advice and case studies, giving practical methods and tools that will allow readers to implement the same ideas into their own lives so they too can achieve financial freedom.
Riecken’s story is a relatable one, with many of us feeling burnt out and uninspired by our day jobs and dreaming of a life with more freedom and flexibility. This is a great motivational book for those who need a little push in the right direction or those who simply want to learn more about the FIRE movement.
For more on financial independence, be sure to check out these resources:
Financial independence can seem like a pipe dream. It’s easy to get stuck in the mindset that you’re destined to live your life working the same mundane job just to make ends meet and keep your head above water.
The books listed here are telling you this does not have to be the case. If so many people have achieved the financial freedom that has allowed them to live the life they truly want, retire early, or travel the world, then why can’t you?
Granted, everyone’s situation is different and we all experience different barriers and obstacles, but these books will give you an excellent starting point or a motivational boost to get better control over your finances and possibly make some smart investments that could end up being extremely profitable.