In this blog article, I introduce you to 7 books that can help you on your path to financial independence :
- Your Money or Your Life
- The Millionaire Next Door
- The Simple Path to Wealth
- A random walk down wall street
- All About Asset Allocation
- Playing with FIRE
- The Little Book of Common Sense Investing
Your Money or your life
The ideas of FIRE originated in 1992 with the publication of the book “Your Money or Your Life” by Vicki Robin and Joe Dominguez.
In 9 steps, you will learn to budget, spend less, increase your income and invest for financial independence.
The Millionaire Next Door
This is one of my favorite books. It’s a book about the mindset of millionaires and I learned the following:
- Many millionaires live below their means, avoid lifestyle inflation.
- Income is not the same as wealth (income-generating assets).
- Most millionaires did not inherit their wealth, but built it up themselves.
- They spend more time on money matters and investments.
- They support their children, not necessarily with money, but with good (financial) habits.
The Simple Path to Wealth
Written by JL Collins, one of the best known FIRE index investors from the United States.
JL Collins started writing a blog series, called “Stock Series”, for his daughter, to prepare her for her financial future.
He later compiled this blog series into the book “The Simple Path to Wealth “.
This book is highly recommended for the beginning investor and experienced investors!
A random walk down wall street
Burton G. Malkiel takes you through the history of depressions, recessions, and bubbles from the past to the present. Also covered are stocks, bonds, mutual funds, technical and fundamental analysis, the efficient market hypothesis, modern portfolio theory, risk and reward and a practical guide for investors.
It’s a lot to take in, but all the concepts are clearly explained throughout the book.
All About Asset Allocation
Your risk profile is an important part of your financial plan.
The most important asset classes are explained in this book, and you can find out how to properly allocate between asset classes.
Playing with FIRE
Scott Rieckens thought he had it all together in a “past life“: a good marriage, a nice BMW in front of the house and an expensive membership at a boat club. But he was not happy, even became depressed, with the way he had to finance this rich life. After listening to a podcast (ChooseFI) he turned his life around, reduced expenses resulting in a more free life.
The Little Book of Common Sense Investing
John C. Bogle is the founder of The Vanguard Group, where he created the first index mutual fund.
In his book “The Little Book of Common Sense Investing”, John reveals his solution for getting more out of investments using low-cost index funds.
This info is for informational, educational and entertainment purposes only, and does not constitute financial, accounting, or legal advice. Please do your own research (disclaimer).
Top blog for belgian investors… I hope that it goes on in 2022 !