What people are doing to get rich and retire early

Resources

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DIY Basics

The Shockingly Simple Math Behind Early Retirement - this is the article that got MANY people started. Thanks Mr. Money Mustache!

Find your favorite PODCAST with content about Financial Independence! Here are a couple of gateway favs:

https://moneyguy.com/

https://coastficouple.com/

https://www.insideoutmoney.org/

https://www.stackingbenjamins.com/

https://www.choosefi.com/

Some Vocabulary


DIY In-Person Activities

Most, if not all of our clients have attended an in-person FI-related activity or event. They are energizing, helpful, and motivating! Get your questions answered and find your people!

https://campfi.org/

https://economeconference.com/

Find local meet-ups in your area: https://apps.choosefi.com/local-groups/


DIY Informal Chats

Want to chat it out informally with folks that have seen how people are reaching their dreams and FI? Reach out to members of the DIY Early Retirement Team when you see them at FI in-person events to have a general discussion about your situation and what FI tools or resources may be helpful for your journey.


DIY with Real Help

Like the DIY stuff but want to also talk with a savvy financial coach and strategist? That’s a great idea! Here’s one that many of our clients have used, and loved:

David Robinson at Dream Financial Coaching

You can also shop around on the XY Planning Network for other fee-only financial planning contacts


DIY Education - Our client favorites!

Great Podcast Episodes:

 

Michael Kitces breaks down the math behind the safe withdrawal rate - Bigger Pockets Money Podcast Episode 120

JL Collins, Author of The Simple Path to Wealth, discusses the ins and outs of Index Funds. You can listen to the audio here, or read the transcript - Mad Fientist Financial Independence Podcast JL Collins Interview

Noteworthy Books:

 

Your money or your life

The gateway book for many! Read more here https://money.com/vicki-robin-financial-independence-retire-early/

Early Retirement Extreme

Dense and powerful: It’s worth a read (despite the small font) to open your mind to what is possible! You do not need to be on an EXTREME FIRE path to appreciate the basic concepts outlined in this book, and eye opening mindset shifts that it introduces. If Financial Independence is a new idea to you, be ready to be WOW’d!

Rich Dad, Poor Dad

The staple: It is a very simple, yet powerful book that is on the must-read list of most real estate investors you will talk to, including all of my clients. The author, Robert Kiyosaki, is a self made multi millionaire who learned at a young age how to achieve true wealth through lessons he learned from his own father (poor dad) and his best friend's father (rich dad).  The main premise of the book teaches you that assets are things that make you money and liabilities are things that cost you money.  The book challenges how conventional wisdom defines success, ie. going to an expensive college, getting a stable job, working your butt off for someone else's benefit, buying lots of fancy stuff, and hopefully having enough money to retire someday.  The concepts discussed in the book will open your eyes to the possibilities of getting out of the rat race sooner than you might think. It's a cheap and easy read. Or watch/listen on YouTube: Rich Dad Poor Dad Audiobook Jump on the bandwagon! 

The Millionaire Next Door

Open your eyes:  It is surprising to learn that the majority of wealthy millionaires do not live the extravagant lifestyle that you think of when you hear the term "millionaire".  Most millionaires use a very similar set of principles to get them to where they are and they don't change that philosophy even when they become wealthy.  This book will emphasize the importance of living within your means and not trying to "keep up with the Jones'," because the Jones' probably don't have as much money as you think they do!

The Richest Man in Babylon

A classic: An old-timey classic book of stories that showcase general financial principles that are the same today as they were throughout history. You don’t want to make the obvious mistakes of people in the past, so read this to get your feet on the ground.