Below is a list of resources that I personally use and recommend wholeheartedly. I will keep updating these lists whenever I come across something that might help you along the path to FI. I am always open to suggestions, so if you know of any websites, books, blogs or services that might be useful for others in our community, please let me know!
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Useful websites and apps
Pretirement app
A financial independence app that instantly converts spending or savings decisions into days, weeks, or years of your life.
ASFA Standard
The ASFA Retirement Standard benchmarks the annual budget needed by Australians to fund either a comfortable or modest standard of living in the post-work years. This is a great resource for anyone on the way to FI who is unsure about their future spending needs. I have written about this in-depth here: Destination Unknown: How to calculate your FIRE number if you have no idea what your future expenses will be
Investment and Retirement Calculator
A simple, easy-to-use investment calculator.
Can I retire yet?
An awesome early retirement calculator that I keep coming back to. Fun fact: This is the calculator Mr. Money Mustache used for The Shockingly Simple Math Behind Early Retirement.
Books
Before you buy any of the book recommendations, make sure to check out this article:Â How to Read Your Favourite Personal Finance Books for FREE
Get a Financial Grip – A Simple Plan for Financial Freedom
A great Australian book about financial independence. Pete became a millionaire at age 33 through index and property investing. In this book, he describes how to develop a sound, holistic financial plan. He covers different investment options and also focuses on the right mindset. A must-read!
Early Retirement Extreme: A philosophical and practical guide to financial independence
The ultimate FIRE classic. Jacob’s book is not the easiest read, it is written like a scientific paper. BUT it is so worth it. I have actually re-read it twice and keep coming back to my favourite chapters. Jacob’s lifestyle is way too extreme for us but his overall philosophy really resonates with me.
Slight Edge: Turning Simple Disciplines into Massive Success & Happiness
The Slight Edge is not a book about money. It is a book about the power of small positive actions over time. Possibly the most motivational book I’ve ever read. Olsen describes how little decisions that seem insignificant in the moment add up over time and lead you either to success or failure. The principles in this book are applicable in all areas of life – money, health, relationships, you name it. Read this book!
Motivated Money – Peter Thornill
This book has become very popular in the Australian FI community. I love Peter Thornhill’s witty writing style. Great info for anyone who is considering investing in LICs and following a dividend-oriented investment approach. Peter also describes how debt recycling works and who should consider it.
The Simple Path to Wealth: Your road map to financial independence and a rich, free life
A true FIRE classic. Jim’s F-You Money post was the first FI-related article I ever read. I have both the Kindle and audiobook versions of his book and keep coming back to it. The Simple Path to Wealth explains index investing really well and illustrates why we don’t have to be scared of market crashes. It is written with an American audience in mind but also highly applicable for Australians on the path to FI. This one is a must-have!
The Armchair Guide to Property Investing: How to Retire on $2,000 a Week
I am a big fan of the Property Couch podcast and have been listening to Bryce and Ben for years. I was really excited when they published this book and have to say I was not disappointed when I read it just before we bought our IP in 2018. It is a great summary of the key points discussed on the podcast and a must-read for anyone interested in property investing.
Choose FI: Your Blueprint to Financial Independence
I can definitely recommend this book as an introduction to FIRE. It covers all key elements, the math and the mindset required to reach FI. Although I have read dozens of books on the topic I picked up a few tips and concepts I had not thought about before.
The Millionaire Next Door: The Surprising Secrets of America’s Wealthy
One of the most important books you can read. You will never look at someone driving past you in a brand new Audi the same way ever again. Really shows that “Keeping up with the Joneses” is for losers.
Set for Life: Dominate Life, Money, and the American Dream
A fantastic book for people in their 20s who are just starting out. Scott Trench made the house hacking popular and explains how it works in great detail. The book is aimed at American readers but the concepts are also applicable here in Australia (altough the outrageously cheap house prices in the US might make you cry a little!).
How To Retire Early: Your Guide to Getting Rich Slowly and Retiring on Less
One of my favourite FIRE books. Robert and Robin Charlton reached FIRE and retired over a decade ago and they have been travelling the world ever since. A very genuine book written by two normal people who achieved FIRE on very average incomes.
The Art of Frugal Hedonism: A Guide to Spending Less While Enjoying Everything More
This book is all about enjoying life! The title does not do it justice – it is not a book about penny-pinching at all. Lots of great ideas about living frugally while enjoying the best things life has to offer.
The Magic of Thinking Big
I read this book a few years ago after Mr. Money Mustache recommended it. Very motivational! Makes you want to jump up and get going. The author illustrates that we don’t need to be super talented or a genius to be successful. The most important thing is the right mindset and consistent action.
Products and Services
YNAB – You Need A Budget
We have used YNAB religiously since 2015. It has changed our (financial) life and I can’t recommend it enough. When we first started out on our way to FI, YNAB helped us to get a clear understanding of where our money is going. We created a budget (which we use to this day), built a solid financial buffer and started allocating budget funds to our investing category. The rest is history. I really believe that YNAB is a big part of the reason we are where we are today financially. It is a great tool, no matter if you are close to FI or only just starting out and living paycheck to paycheck.
You can get a free 34-day trial when you sign up. If you use my referral link we will both get a month for free if you continue using YNAB after your free trial ends.
Sharesight
Sharesight is a platform that helps investors track their stock portfolio performance including dividends. It is free for portfolios with under 10 holdings (which is the case for most index investors). Most of the reports are free and I find them really useful at tax time.Â