Forum

Books You Have Read
 

I'm an avid reader (audiobooks).

I average 1 book a week.

My most recent book is 'Playing with FIRE'

https://m.media-amazon.com/images/I/...iL._SY346_.jpg

FIRE = Finical Independence Retire Early

It opened my eyes to what needed to be done in order to FIRE

"F.I.R.E. stands for “Financial Independence, Retire Early.” The goal is to save and invest very aggressively—somewhere between 50–75% of your income—so you can retire sometime in your 30s or 40s.

How do people do it? In order to be able to sock away that much money toward investing, folks who are on F.I.R.E. are always looking to do two things: keep their expenses extremely low and raise their income. The general idea is that the higher your income is and the lower your expenses are, the faster you can reach financial independence. Think gazelle intensity—except the gazelle is literally on fire.

For those in the F.I.R.E. movement, “financial independence” doesn’t just mean sitting on some tropical beach or playing golf all the time. It means reaching the point where you don’t have to work a full-time job if you don’t want to. You can scale back to a part-time job or simply stop working altogether. The choice is yours. "

A good source to understand it further: https://www.daveramsey.com/blog/what...-fire-movement

Since discovering FIRE I decided to downsize my housing and vehicle costs (in progress) and I realized I could FIRE.

Now I'm thinking what would make me most happy and I'm aligning myself to meet that goal.

Any other avid readers out there?

Re: Books You Have Read
 

Thank you very much Aspkin, I will do it this week and let you know my review.

Re: Books You Have Read
 

The idea of a teenager firstly earning enough to be able to save/invest 50-75% of their income is beyond my comprehension! It's easier to keep water in your pocket at that age than money.

Even if you were a rare youngster who had the mental discipline to forgo the best years of your life how much would you need to earn at such a young age to be able to a) live even simply and b) retire in your thirties.

What value would your portfolio need to be to retire at 40 and even live the most basic of existences?

Seems to me this concept is lead a frugal life when you're young so you can lead a frugal life when your older. No thank you.

IMO these catchily named plans are designed to make the author money at the expense of the naive. They've been around for decades and have almost become a parody of themselves.

Re: Books You Have Read
 

Indeed:

1937 - Think and Grow Rich
1972 - The Very Very Rich and How they got that way
1997 - Rich Dad, Poor Dad
2007 - 4 Hour Work Week

Selling hope to poor people has been a profitable business for quite a long time.

The biographies are pretty good though. Everything else is mostly fluff.

Re: Books You Have Read
 

I'm actually surprised that you are just now stumbling upon this subject. @aspkin

Re: Books You Have Read
 

As far are FIRE goes, yes I'm surprised as well.

However I have read pretty much every popular book there is on money and investing.

FIRE is a niche subject and relatively new.

It's something I've wanted to do since I was 12 years old but I had no idea what it was or how to achieve it, until now.

I'm in the process of doing it but it's going to take awhile because I have to get my cost of living low enough to make it possible.

Re: Books You Have Read
 

I guess it depends on what makes you happy. You have to take a moment and write out what during a week or two period, makes you the happiest. Is that spending time with your kids? Have coffee with your partner in the morning? Going to the park? Beach? Spending time with friends? Etc.

You have to look at the stuff you have that is keeping you from that... that expensive house or car that you're going to work for everyday, keeping you away from what makes you the happiest.

What if you could reduce or eliminate those overhead expenses? That would mean you could work less and spend more time on things that make you happy.

I think that's what these books are about. A lifestyle hack if you will..

You see these people who travel the world anytime they want, life a rich life without working, doing things that make them happy and you wonder how did they do that? They read books.

Re: Books You Have Read
 

They absolutely do not. I have a friend who is the founder and CEO of a company worth $300 million. I was once in a bookstore with him, and we looked at "4-hour work week". He'd never seen or heard of it before. He took one look at it and laughed, said it's obviously written for losers.

These books are written for poor people.

Rich people get things done. Poor people read books about getting things done.

Re: Books You Have Read
 

The 4 hour work week was a bunch of waffle concentrated on getting guys to give up their careers. I never needed any encouragement to give up working for someone else, or working at all for that matter.

I semi-retired a long time ago, these days much of my work is outsourced.

I spend much of my time these days travelling, going to resturants, playing sport and chasing skirt half my age.

If it all goes wrong later in life, then i'll happy live like in a mountain hut selling potatoes at market knowing I enjoyed myself in my younger years

Re: Books You Have Read
 

Switch by Chip and Dan Heath in audio was excellent. Made to Stick was also good.

Re: Books You Have Read
 

The acronym and books may be new, but the lifestyle isn't. Been doing it for a while.

Re: Books You Have Read
 

I would say your friend is the exception.

Who says those that read don't get things done? With audiobooks you can breeze through books while working out easily. I get through a book a week while working out. And then I have the rest of the day to get things done.

Re: Books You Have Read
 

Any good source or website to read or listen audiobooks?

Re: Books You Have Read
 

I read Aspkins "Ebay Stealth" ebook 7 years ago . Never read a single book before! I have only recently started to read which doesnt do any difference financially =)

None of My educated friends earn even a fraction of what I do .

I work 1 hour a day , mainly dealing with My suppliers! Sweet income ! Sweet life!

Re: Books You Have Read
 

Let's hope you bank balance is more than your username :pound:

Money isn't everything in life, did you stop to contemplate that some of these guys who earn less than you might actually be leading a more fulfilling and happy life?

Re: Books You Have Read
 

The Answer: How to take charge of your life & become the person you want - Allan and Barbara Pease

Re: Books You Have Read
 

Everything is Illuminated by Safran Foer it is very close to my heart

Re: Books You Have Read
 

Start With Why by Simon Sinek. Good book to start the year

Re: Books You Have Read
 

Six of Crows by Leigh Bardugo. 5/5! Loved it.