Was There A Particular Book That Motivated You

[MBAustin]

Although like others here I got the LBYM / FIRE genes from my father, Millionaire Next Door was a powerful reinforcement. And like ejman above, I still have $$ in Mutual Shares that I invested in the early 1980s (although it was on my father's recommendation rather than Money).

 

[Zorba]

"A Random Walk Down Walk Street", 2nd edition was the first and most important.

"Cashing in on the American Dream", "Millionaire Next Door", "Work Less, Live More, and "How to Retire Happy, Wild and Free".

 

[truenorth418]

The Millionaire Next Door changed my life more than any book ever has. It inspired me to put my plan to paper, which set me on a path to FI and early retirement at age 47.

I was also inspired early on by Rich Dad Poor Dad, which if nothing else introduced me to the Cash Flow Quadrant, a handy framework for living off of passive income.

Years later I read a few more books that had a big impact:

Early Retirement Extreme
Your Money or Your Life
Stocks for the Long Run
Common Sense on Mutual Funds

 

[Gumby]

The Retirement Myth by Craig S. Karpel, published in 1996, is the first book that got me seriously thinking about just what it would take to retire. It is almost 20 years old, but I would argue that it is still germane. He certainly was prescient about many things.

The Retirement Myth: What You Must Know to Prosper in the Coming Meltdown of Job Security, Pension Plans, Social Security, the Stock Market, Housing Prices, and More: Craig S. Karpel, Craig Karpel: 9780060927370: Amazon.com: Books

 

[CUinFl]

For the book Your Money or Your Life. Is the author of the book Vicki Robin or Alvin Hall?

 

[rockyj]

For LBYM, “Millionaire Next Door” reaffirmed frugal living habits and put them it in the context of long-term wealth accumulation, adding both purpose and “panache” to being frugal.

Bob Clyatt’s “Work Less Live More” pointed to the real possibility of early retirement and provided a rough framework for achieving FIRE.

Paul Merriman’s “Ultimate Buy and Hold Portfolio” article (2014 version at: The Ultimate Buy and Hold Strategy 2014 - Paul Merriman) and expanded book version “Live it Up Without Outliving Your Money”, first illustrated the value of global diversification across multiple asset classes in portfolio construction. I have followed a similar approach since.

This forum, bogleheads, and many of the oft mentioned classics also provided guidance over time, but the above three were probably the most resonant for getting started on a clear path to FIRE.

 

[Lakedog]

Add me to the Millionaire Next Door crowd.

+1

 

[freebird5825]

In the order that I read them as a very beginner investor at age 38...

1. Common Sense on Mutual Funds by John Bogle
2. Four Pillars of Investing by William J. Bernstein

I wanted to fully understand the terminology and investing approaches.

I have since read a few other books recommended by more experienced investors that I w*rked with. I did not find this site until after I FIREd in 2007.

 

[Sarah in SC]

For the book Your Money or Your Life. Is the author of the book Vicki Robin or Alvin Hall?

Most of us probably read the Joe Dominguez edition of the book. But, he was Vickie Robin's partner, and she has (I believe) created an updated version of the original. I would say that one of the most poignant things about the original is that Joe retired early, and then died of cancer very, very young.

The investing advice in the original has not withstood the ravages of time (interest rates), but the philosophy is still very relevant.

 

[photoguy]

Even before I read Your Money or Your Life, I was in the mindset that if I want to buy X I'll need to work Y hours for it. But the book really hit home about tracking expenses and minimizing costs.

 

[imoldernu]

"Walden"

 

[Onward]

"Walden"

Amen.

Instead of studying how to make it worth men’s while to buy my baskets, I studied rather how to avoid the necessity of selling them.

 

[Cobra9777]

What book inspired me to FIRE?.... Every book my boss ever gave me to read... usually on topics like understanding and motivating Gen Y, continuous business process improvement, and how to synergistically maximize quality and productivity for less cost in an increasingly competitive global environment.

 

[Throwdownmyaceinthehole]

I know these aren't typically thought of as investment books, but Thomas Friedman's The World is Flat, and Nickel and Dimed On not getting by in America have both been very influential to me in my thinking of money.

 

[racy]

Do magazines count? If so, I'd have to say Playboy. The mansion, cars, "etc", looked pretty good to a 15 year old farm boy. Motivated me to study how to build wealth.

 

[sunnysideup]

Millionare Next Door was first to hit home. Liked Smart Couples Finish Rich --asked DH to read it simultaneously. Helped us discuss some things we hadn't discussed before--pointed out where we needed to find agreement!

 

[Jay_Gatsby]

What book inspired me to FIRE?.... Every book my boss ever gave me to read... usually on topics like understanding and motivating Gen Y, continuous business process improvement, and how to synergistically maximize quality and productivity for less cost in an increasingly competitive global environment.

Funny how *none* of those books actually taught you how to use such activities to benefit yourself - just the corporation (and by extension, the shareholders).

 

[chonga]

Millionaire Teacher by Andrew Hallam and Millionaire Next Door.

 

[Dog]

Cobra9777.....

I hear you! Those mando-reads are what convinced me it was time to go and the assurance that I would not miss megacorp!


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[HFWR]

Another vote for Millionaire Next Door.

 

[pb4uski]

Die Broke is the book title.

I read that. A bit odd for me.

 

[pb4uski]

haha +1

+2 Rich Dad, Poor Dad author was a flake IMO.

 

[Jay_Gatsby]

+2 Rich Dad, Poor Dad author was a flake IMO.

And he exaggerated his background, embellished a few things, etc... but in the end, the message was still true. Make your money work for you, not the other way around.

More generally, one could say the same thing about most personal finance gurus. If they really could make money for themselves, they wouldn't waste their time trying to build an empire based on repackaging the same financial advice that has been available for free since the printing press was invented (and possibly before that).

 

[FANOFJESUS]

The single book that most impacted me was Cashing in on the American Dream, How to Retire at 35...from 1988. You can still find occasional updates on the author's life here: https://sites.google.com/site/paulvicgroup/Home

I do hope to share a meal with this couple at some point to thank them in person for making me believe ER was a real possibility for me.

I enjoyed that one to. Looks like it is time for a library trip. LOL

 

[fidler4]

I had to read Milton Friedman's "Free to Choose" back for my high school economics class. Some 30+ years later I still float to the anti-government intervention side of life.


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