I love reading and here I would like to share books and blogs which inspired me, mostly related to FIRE but not always. Please see them below in no particular order.
Books:
Rich dad, poor dad, R Kyiosaki
– This was the first time I realised I do not need to be dependent only on salary, but that there are income producing appreciating assets and businesses. At that point I had Master of Commerce degree and I was 5 years out of Uni. Looks like most of Uni students do not have much idea about finance and economics either regardless what they study.
Your money or your life, V Robin and J Dominguez
– This book is so ahead of times. Author retired in his thirties in 1970s and then focused his time only on what he was interested in. True FIRE trailblazers decades before FIRE acronym was even first used. Book is from 1992 so I am sorry I haven’t read it couple of decades earlier too.
Awaken the giant within, T Robbins
– Tony Robbins is extremely inspirational. His books are very powerful and one of the best stuff about personal development you can get.
Ordinary millionaires, J McKnight
– This hard to get little book is incredible. It pens the stories of people in Australia who got from nothing to millionaire status. Mostly very ordinary and humble people. It is property centered (as many things here down under) but a treat to read and very inspirational.
Millionaire next door, C Smiths and T J Stanley
– These guys are often quoted by FIRE writers as their research shows that most millionaires did not reach the status by showing off flashy toys and having multimillion salaries. Mostly they were average salaries earners lliving modest lives and being good savers and investors.
The Big Short: Inside the Doomsday Machine, M Lewis
– Well written stories of people during the 2008 global financial crisis. Author is famous for being able to make the often very dry finance topics into great books for masses and not only for finance professionals.
– Life in investment firms’ environment in 1980s. Easy and entertaining read.
– Mr Leeson is often cited in Auditing courses to highlight the risks in finance companies. Book is about how simple it was to bring down the bank with insufficient risk controls.
Walden and Civil Disobedience, H Thoreau
– Another favourite of FIRE community. It is about a man in 19th century who left everything to live in the self-built cabin in the woods where he gave up majority of consumption, learnt to make things and be almost totally self-sufficient. By going back to the nature the main character rediscovered himself.
The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich, T Ferris
– Tim is incredibly talented businessman and inspirational writer. Who else in 2009 promoted to work 4 hour per week while most of the income is running on autopilot so you can polish your martial arts or tango skills ?
– Jim is one of the guru’s of the FIRE movement. This book summarizes how to get to wealth slowly but (almost) surely by yes you guess it, not spending but investing your ordinary salary. He is drawing on his decades of experience in investing. His blog jlcollinsnh.com is hugely popular and his Stock Series in his blog is almost everything you need to know about investing.
The Snowball: Warren Buffett and the Business of Life, A Schroeder
– Biography of one of the greatest investors world has ever seen. Very entertaining book.
The Boggleheads’ Guide to Investing, T Larrimore and A Lindauer
– Book about index investing which is core of the wealth building for most of the FIRE community members. Book is named after Jack Boggle who in 1970s set up one of the first index funds and by now hugely popular Vanguard.
A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing, G Malkiel
– Must read for any investors.
Early Retirement Extreme: A philosophical and practical guide to financial independence, J L Fisker
– Most of the people in the FIRE community would know Jacob. He comes from Denmark and holds PhD in Physics. At certain point he decided that it is not necessary to work for living full standard working life (40+ years) if you cut your expenses, increase saving rate up to 75% and invest the difference. So he tested it and managed to live on about USD 10,000 of investment income while promoting anti-consumerism, sustainability and making and repairing things. His blog with the same name contains a lot of practical advice based on his real experience.
BLOGS
Early Retirement Extreme: — a combination of simple living, anticonsumerism, DIY ethics, self-reliance, resilience, and applied capitalism
– Blog of Jacob Fisker. This is one of the first FIRE blogs I have read. It opened my eyes that there is different world beyond 9-5 and motivated me to start reading on this topic.
Mr Money Mustache
– I doubt there is one FIRE enthusiast who did not hear about Peter from MMM blog. I have actually discovered somewhere online all his blogs in a word document, uploaded it to my Kindle and read them all. Eye opening revolutionary stuff. His post The Shockingly Simple Math Behind Early Retirement seems to be one which inspired large number of readers judging from many podcasts on financial independence.
J L Collins
– As mentioned in the book section, Jim was practicing FIRE principles decades before they were popularised. And then he started this blog to share his knowledge. He is often using F-you money term and it is important for EVERYBODY understood it. Among many great posts this blog contains Stock Series which is great class for anyone trying to learn about investing. Many finance professionals do not have this level of understanding of investments due to tendencies to complicate things.
These guys know what they are talking about. They have also incredible podcast of the same name which I often listen on Spotify.
I have discovered this blog only lately and I think their Millionaire Interview series is very motivating.