Working towards financial independence is not an idea that simply pops in your head and you try to figure everything out by yourself. It is shaped by reading, researching, and using tools that can help you along your path. This page has a list of books, services, blogs, and websites that find useful, and everything listed on this page is something that I personally have read or used and would recommend for anyone working to reach financial independence.
The Logic Of Failure: Recognizing And Avoiding Error In Complex Situations.
This book really gets at the heart of where people make common mistakes and set themselves up for failure in complex situations. Planning for financial independence is a complex endeavor that requires thinking systemically and not in a linear manner. This is a book that I discovered while working on my Ph.D. and I re-read every year or two to help strengthen my systems thinking perspective. The focus of the book is not on finance or money, but many of the ideas presented are highly relevant when you think about FI as being a highly complex and dynamic system that requires a significant amount of thinking ahead.
This was the first book I read when I really started to think about money in a different way. Prior to this I considered myself to be fairly astute with my relationship with money, but never in terms of the trade-offs I made in the pursuit of money or the idea that I didn’t really need to continue working until I was 65 before I “retired” It also helped me gain some perspective about the true purpose of a job and not what we sometimes ascribe to a job such as our self-worth or accomplishments in life.
Jacob does a good job of presenting a different way of thinking about working and touches on some philosophical aspects of financial independence. This book appealed to my academic side especially the aspects that focus on a system perspective. This book is not designed to be a “how to guide” for financial independence but to get you to think about the choices you make and consider your perspective on working and money.
Software and Services
The following is a list of software and services that we actively use and would recommend.
Personal Capital – If you are looking to keep track of all of your accounts, investments, income, and expenses in one place this is the best service I currently use. One of the features I find useful is the retirement planner which will run simulations based on parameters you set including retiring early. I plan to do a thorough review of their service and how we use it in the near future.
Blogs and Websites
The following are a list of blogs and website I personally read regularly. This is not a list of everything I read, but these are the ones that I either learn a lot from, inspire me, or contain tools that I find helpful for our FI project.
The Economist – This is one website and magazine that I find very informative for news and world economic issues. Even though I list this under websites, I mostly read the magazine each week.
MadFIentist – Very informative and detailed articles, interesting podcasts interviewing other bloggers working or successfully achieving FI. I like the tools in his “laboratory”.
Rock Star Finance – Aggregates posts and articles from other websites. Good place to explore what others are writing about.
Mr. Money Mustache – One of the first blogs I found when I started searching about financial independence.
cFIREsim – A good FIRE calculator to run simulations on your portfolio and retirement plans.
* The links for the books I have listed contain an affiliate link. This does not effect the price, but it does mean that this blog gets a percentage of the sale. These links or participation in any affiliate program does not influence my recommendations in any way. It is simply a way to offset the cost of maintaing this website.