‘How to Retire Early?’ is a question many are asking themselves although retiring early is not a new concept but its popularity is increasing right now. Many have dreamt about Early Retirement but only a few achieve it with the required actions.
The fact is anyone can achieve financial freedom and retire early when they are committed to the desired goal.
When one can manage the work and working hours, it doesn’t feel like a burden but one starts to enjoy working.
Here are the Best Books on Financial Independence and How to Retire Early
1. The Simple Path to Wealth by J.L. Collins
The Simple Path to Wealth was written by J.L. Collins. It is one of the most popular and best early retirement books ever. J.L. Collins’ book Simple path to wealth is the compilation of his blogs. The blog is the series of letters sent as the financial and investment advice to Collins’ daughter.
He covers the wide range of fundamental topics such as how to get benefit from the tax advantage accounts?
He also talks about the different market phases and how to invest during such situations. And how to preserve one’s wealth that is built.
If you are confused about where to start, I believe you’ve got the hint.
2. Your Money or Your Life by Vicki Robin
Your money or your life is still relevant to today’s audiences. The book aims to completely change the way one thinks about money and the success in one’s life.
It was first published in 1992. However, the author has updated the book in 2018 to cover the recent trends.
Author of the book has explained in very simple and concrete ways how to observe the connections with the material world. One such powerful quote from the book: “Who you are is far greater than what you do for money and your true work is far greater than your paid employment”.
3. The Bucket Plan: Protecting and Growing Your Assets for a Worry-Free Retirement
Dive into “The Bucket Plan,” an essential read for those serious about crafting a sensible financial strategy for their retirement. Updated in 2023, this book unveils a three-bucket approach to strategically position assets, mitigating risks and uncertainties in retirement.
Discover:
• The top three financial dangers and how The Bucket Plan shields against them
• A simple formula to assess potential income shortfalls and the necessary preventive measures
• Foolproof methods to steer clear of excessive investment risks on near-future funds
• And much more invaluable advice
By tactically allocating funds through Jason L Smith’s three-bucket philosophy, readers can forge a plan that minimizes risk while nurturing future growth, providing a more assured retirement outlook.
4. Choose FI: Your Blueprint to Financial Independence by Chris Mamula, Brad Baratte, and Jonathan Mendonsa
It is one of the top personal finance books in the FIRE segment. The Authors of the book also runs an award-winning podcast with the same name Choose FI.
This book gives you an understanding on how to achieve early retirement. The advice given in the book is very grounded and from a very different mindset for money. With each passing chapter it goes into details of how to proceed further?
5. Early Retirement Extreme: A Philosophical and Practical Guide to Financial Independence by Jacob Lund Fisker
Like other early retirement books, this book focuses on cutting expenses and building passive income through investments. It also talks about the combinations of smart financial choices, simple living and increased self-reliance.
The book provides the frameworks and principles in one’s life for 5-10 years. It mentions almost any means to achieve the goal, whether it’s living a debt free life, traveling, career change or self-reliance. Anyone can use the principles from the books to implement in their life.
6. The 4-hour Workweek by Tim Ferriss
The book talks about how to live your life by constructing not all by work. This is the go-to book if your dream is escaping the rat race, building a 5-figure income, traveling the world, living more and working less.
It is yet another book that will make you think the way you make money, your career and value of time.
7. Retire Early with Real Estate by Chad Carson
This book is one of the most exceptional if you are interested in Real Estate. Author, Chad Carson is an experienced real estate investor. He too retired early.
This book focuses on how to use rental properties as part of retiring early in life in just 10-15 years. The author provides proven methods to quickly and safely build wealth. Thus, this book will help in creating a new opportunity and path for oneself.
Also Read: Best Investing Ideas for Investing in Your 40’s
Donald G. is the Principal Consultant at NRI Money+. He specialises in creating personalised financial plans for NRIs (Non-Resident Indians) and HNI (High Net-worth Individuals).
