Five Books for Financial Independence

Today feels like the perfect day to share this post as we are observing Independence Day in the United States (4th of July).

Books for financial independence

The books I will be sharing below are titles I have personally read over the years and which became a staple in my library. Many are quite popular and so, they might look familiar.

Some of these books played a pivotal role in completely shifting my mindset when it comes to wealth creation and what is really possible.

They allowed me to enter an abundance mindset that has remained with me through the years and which I am incredibly grateful for. I hope they do the same for you. 

Let’s start with Personal Finance books: 

The Millionaire Next Door

by Thomas J. Stanley (Personal Finance)

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“Many people who live in expensive homes and drive luxury cars do not actually have much wealth. Then, we discovered something even odder: Many people who have a great deal of wealth do not even live in upscale neighborhoods.”

-Thomas Stanley

I read this book over 10 years ago shortly after I graduated from college. I clearly remember that I found out about it while browsing the Facebook page of one of my former college classmates.

Using real-life, practical stories, this book emphasizes the power of a frugal lifestyle. It shows that anyone can create wealth and comfortable life by simply being mindful and strategic about expenses.

It shows (with multiple examples) that, despite popular belief, the riches people in the country, and probably the world, are not out there mindlessly spending money on luxuries. They are actually being strategic about how they manage money – everything from purchases to saving to investing, and they’re being consistent with said approach.

The Automatic Millionaire

by David Bach (Personal Finance)

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“Remember, inspiration unused is merely entertainment. To get new results, you need to take new actions.”

-David Bach

I read this book about a year into my first corporate job right after college. I can honestly say this book completely opened my eyes to the attainability of wealth and how it is possible for everyone – not just for people that are “already wealthy” or come from “well-off” families.

This book includes real-life, practical examples, of how certain saving and investing strategies can set us up for financial success – and freedom. 

On a personal level, it created a HUGE mind-shift in terms of how I managed my money from a very young age (early 20s!). I can only speak for myself and can honestly say that applying the concepts of this book, made a huge difference in my financial life.

Investing books: 

One up on Wall Street

by Peter Lynch (Stock Investing)

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“Understand the nature of the companies you own and the specific reasons for holding the stock. (“It is really going up!” doesn’t count.)”

-Peter Lynch

Peter Lynch is one of my all-time favorite investors (right next to Warren Buffett).

The reason why I absolutely loved “One Up on Wall Street” is that Lynch is a strong believer (like myself) that no one needs fancy degrees or a wealthy family to participate in the stock market and grow wealth via investing.

In his book, he shows (with examples) how the average person can have a significant advantage over so-called ‘professionals’ when it comes to finding companies that can turn out to be phenomenal investments over time.

His theory is that the average person is the consumer and has a front-row seat when it comes to companies and how they ultimately perform. The average person knows what’s “hot” and what is not and can use that ‘insider’ perspective to make great investment decisions.

The book is written in a way that is simple and straight to the point. The examples of stocks that are presented in the book are outdated since the book was written a long time away. However, the core educational content is as good as new and highly valuable.

The Little Book of Common Sense Investing

by John Bogle

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“Don’t look for the needle in the haystack. Just buy the haystack!”

-John Bogle

John Bogle is another one of my virtual investing mentors (together with Warren Buffett and Peter Lynch).

The book is a quick read yet very informative and highly educational. The author focuses mostly on the power of Index Funds and how you don’t have to spend time and energy trying to find successful individual stocks. He spells out what to look for in an index fund to make sure you pick the right one(s).

Most of you know I am a fan of individual stocks and about 90% of my investment portfolio is composed of individual stocks at the present time.

HOWEVER, I still considered this book to be a gem and highly valuable for anyone out there interested in Index Fund investing instead of stocks – or looking to have a balance of both in their investment portfolios. 

Stock Market Investing Mini-Lessons for Beginners

by Mabel Nunez

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“I aim to dispel any misconceptions around stock investing and show that you don’t need to work in Wall Street, have a PhD in Finance, or wear an expensive suit to participate in the stock market. Pretty much anyone who makes a conscious and committed decision to learn this subject can do so and benefit from it”.

-Mabel N., MBA

This is a shameless plug only because I strongly believe this book should be a staple in the library of all investing beginners. Don’t take it from me. Take it from all the positive feedback I’ve received about this book on Amazon. If you’re written a review, thank you.

Here’s why I wrote it: Back in the days when I wanted to learn how to invest, I would pick up books at Barnes and Noble or the library that claimed to be for “beginners”.

I would take these books home and be completely lost and confused with all the finance lingo, and complicated language – I often wondered what type of beginners were they talking about?!

Nearly 10 years into my investing journey, I decided to write a book that breaks down investing in its simplest term. It covers pretty much all the basics and allows you to feel more comfortable and confident with the stock market. Check it out.

And that’s all for now. Have you read any of these books? And/or do any catch your eye for future reading? Let me know in the comments!

With gratitude,

Mabel

*****

Upcoming Courses & Resources:

Stock Investing Bootcamp for Beginners: To be notified when enrollment for the next edition opens up again (and to qualify for the promotional rate), make sure your info is here.

Understanding Your Investing Options: Looking for a Master Guide that explains in simple and practical terms ALL of the investing platforms available this day and age, types of investment accounts, types of investments, and beyond?! Check out this amazing resource.

2 thoughts on “Five Books for Financial Independence

  1. Myrna Pena

    Hi Mabel,

    I registered yesterday for the bootcamp. I have not received a confirmation from you. Since I received this letter today without acknowledgment of my registration I just want to make sure I am in the bootcamp’s participants list.
    Thanks,

    Myrna Pena

    ________________________________

    1. Girl$ on The Money

      Hi, Myrna! We received your registration. I am super excited to have you in the class. You should have received an official welcome email with some initial details. Let me know if you didn’t :).

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