Best Personal Financial Freedom Books for This Year {Top Recommended}
Financial freedom – a concept sparking both desire and confusion. Achieving it requires a multifaceted approach, encompassing mindset shifts, responsible planning, and financial literacy. To guide you on this journey, we’ve compiled a treasure trove of resources, from insightful books to engaging podcasts. Each one highly recommended!
Not sure where to start? Grab any of the top picks for each financial freedom category. They are listed in order of most recommended.
MONEY MINDSET
Top Picks
The Psychology of Money
by Morgan Housel
Doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior is hard to teach, even to really smart people.
…author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important topics.
The Millionaire Next Door: The Surprising Secrets of America’s Wealthy
by Thomas J. Stanley
The bestselling The Millionaire Next Door identifies seven common traits that show up again and again among those who have accumulated wealth. Most of the truly wealthy in this country don’t live in Beverly Hills or on Park Avenue-they live next door.
Rich Dad Poor Dad
by Robert Kiyosaki
Although 25 years have passed since Rich Dad Poor Dad was first published, readers will find that very little in the book itself has changed — and for good reason. While so much in our world is changing a high speed, the lessons about money and the principles of Rich Dad Poor Dad haven’t changed. Today, as money continues to play a key role in our daily lives, the messages in Robert Kiyosaki’s international bestseller are more timely and more important than ever.
Think and Grow Rich
by Napoleon Hill
Think and Grow Rich has been called the “Granddaddy of All Motivational Literature.” It was the first book to boldly ask, “What makes a winner?” The man who asked and listened for the answer, Napoleon Hill, is now counted in the top ranks of the world’s winners himself. The most famous of all teachers of success spent “a fortune and the better part of a lifetime of effort” to produce the “Law of Success” philosophy that forms the basis of his books and that is so powerfully summarized in this one.
MONEY MINDSET FOR FINANCIAL FREEDOM Honorable Mentions
- The Law of Attraction: The Basics of the Teachings of Abraham by Esther & Jerry Hicks
- The Millionaire Fastlane by MJ DeMarco
- The Magic of Thinking Big by David J Schwarz
- Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence by Vicki Robin
FINANCIAL FREEDOM
Top Picks
I Will Teach You To Be Rich
by Ramit Sethi
Buy as many lattes as you want. Choose the right accounts and investments so your money grows for you—automatically. Best of all, spend guilt-free on the things you love.
I Will Teach You to Be Rich will show you:
• How to crush your debt
• Set up no-fee, high-interest bank accounts
• How Ramit automates his finances so his money goes exactly where he wants it to
• Talk your way out of late fees
• How to save hundreds (and buy what you love)
• A set-it-and-forget-it investment strategy
• and more…
If You Can: How Millenials Can Get Rich Slowly
by William J. Bernstein
Through the title link is access to the Free 16 page booklet. This is definitely a small but mighty situation.
This is a project to help today’s young people invest for retirement because, frankly, there’s still hope for them, unlike for most of their Boomer parents. All they’ll have to do is to put away 15% of their salaries into a low-cost target fund or a simple three-fund index allocation for 30 to 40 years. Which is pretty much the same as saying that if someone exercises and eats a lot less, he’ll lose 30 pounds. Simple, but not easy…
The Richest Man In Babylon
by George Clason
A classic personal finance book first published in 1926. It is a collection of parables set in ancient Babylon, which teach simple yet powerful financial lessons that are still relevant today. The book’s first section discusses the importance of saving money and the power of compound interest….The second section of the book focuses on building wealth through investing. It discusses various investment opportunities, such as real estate and business ownership, and emphasizes the importance of diversifying one’s investments. It also stresses the importance of taking calculated risks and being patient to achieve long-term financial success.
FINANCIAL FREEDOM Honorable Mentions
- The 4-Hour Workweek by Tim Ferriss
- The Wealthy Gardener by John Soforic (Similar to The Richest Man in Babylon but updated and in modern english)
- Secrets Of The Millionaire Mind by T. Harv Eker
- The 4 Minute Millionaire by Niklas Göke
- Financial Freedom: A Proven Path to All the Money You Will Ever Need by Grant Sabatier
- Set for Life: An All-Out Approach to Early Financial Freedom by Scott Trench
- The Wealthy Barber by David Chilton
FINANCIAL PLANNING AND RETIREMENT
Top Picks
You Need a Budget: The Proven System for Breaking the Paycheck-to-Paycheck Cycle, Getting Out of Debt, and Living the Life You Want
by Jesse Mecham
No one should tell you what to do with your money—only you know what’s most important to you…proven method—four, simple rules—will transform money management from a paralyzing burden to a powerful tool, putting you in total control of your life:
- Give Every Dollar A Job.
- Embrace Your True Expenses.
- Roll With The Punches.
- Age Your Money.
The Total Money Makeover
by Dave Ramsey
By now, you’ve already heard all of the nutty get-rich-quick schemes and the fiscal diet fads that leave you with a lot of quirky ideas but not a penny in your pocket. If you’re tired of the lies and sick of the false promises, Dave is here to provide practical, long-term help. The Total Money Makeover is the simplest, most straightforward game plan for completely changing your finances. And, best of all, these principles are based on results, not pie-in-the-sky fantasies. This is the financial reset you’ve been looking for.
Die with Zero
by Bill Perkins
Imagine if by the time you died, you did everything you were told to. You worked hard, saved your money, and looked forward to financial freedom when you retired.
The only thing you wasted along the way was . . . your life.
Die with Zero presents a startling new and provocative philosophy as well as practical guide on how to get the most out of your money—and out of your life. It’s intended for those who place lifelong memorable experiences far ahead of simply making and accumulating money for one’s so-called “golden years.”
FINANCIAL PLANNING AND RETIREMENT Honorable Mentions
- Early Retirement Extreme: A Philosophical and Practical Guide to Financial Independence by Jacob Lund Fisker
- The Automatic Millionaire by David Bach
- The One-Page Financial Plan by Carl Richards
INVESTING
Top Picks
The Simple Path to Wealth
by Jim Collins
This book grew out of a series of letters to my daughter concerning…money and investing… Since money is the single most powerful tool we have for navigating this complex world we’ve created, understanding it is critical.
“But Dad,” she once said, “I know money is important. I just don’t want to spend my life thinking about it.” ….
Here’s an important truth: Complex investments exist only to profit those who create and sell them. Not only are they more costly to the investor, they are less effective. The simple approach I created for her and present now to you, is not only easy to understand and implement, it is more powerful than any other.
The Only Investment Guide You’ll Ever Need
by Andrew Tobias
The Only Investment Guide You’ll Ever Need has been a favorite finance guide, earning the allegiance of more than a million readers across America.Using concise, witty, and truly understandable tips and explanations, Andrew Tobias delivers sensible advice and useful information on savings, investments, preparing for retirement, and much more. This completely updated edition will show you the best way to manage your money, no matter what your means.
The Little Book of Common Sense Investing
by Jack Bogle
A portfolio focused on index funds is the only investment that effectively guarantees your fair share of stock market returns. This strategy is favored by Warren Buffett,….
Bogle shows you how to make index investing work for you and help you achieve your financial goals, and finds support from some of the world’s best financial minds: Benjamin Graham, Paul Samuelson, Burton Malkiel, Yale’s David Swensen, Cliff Asness of AQR, and many others.
The Little Book of Common Sense Investing is a solid guidebook to your financial future.
A Random Walk Down Wall Street
by Burton G. Malkiel
Whether you’re considering your first 401k contribution, contemplating retirement, or anywhere in between, A Random Walk Down Wall Street is the best investment guide money can buy. In this new edition, Burton G. Malkiel shares authoritative insights spanning the full range of investment opportunities―including valuable new material on cryptocurrencies like bitcoin, and “tax-loss harvesting”―to help you chart a calm course through the turbulent waters of today’s financial markets.
INVESTING FOR FINANCIAL FREEDOM Honorable Mentions
- Unshakeable by Tony Robbins
- Quit Like a Millionaire by Kristy Shen
- The Barefoot Investor by Scott Pape
- The Intelligent Investor by Benjamin Graham
- The Little Book That Still Beats The Market by Joel Greenblatt
BONUS: PODCASTS FOR FINANCIAL FREEDOM
- Biggerpockets Money (if you’re interested in real estate)
- The Money Guy Show with Brian Preston and Bo Hanson
- Choose FI with Bard Barrett and Jonathan Mendosa
- The Stacking Benjamins Show with Joe Saul-Sehy and Josh Bannerman
- Afford Anything with Paula Pant
- Prepper Princess (for living frugally)
- Planet Money from NPR
- Financial Confessions with Chelsea Fagan
- I Will Teach You to be Rich with Ramit Sethi
- Millionaires Unveiled with Jace Mattinson
- The Money with Katie Show
Remember, financial freedom is a journey, not a destination. These resources offer valuable tools and inspiration to guide you on your path. Choose the books and podcasts that resonate with you, combine their insights with your own goals and circumstances, and take action toward your financial dreams.
This is just a starting point, of course. Explore further, seek professional advice when needed, and most importantly, enjoy the journey towards financial freedom!
What is your favorite resource toward financial freedom?
