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Quit Like a Millionaire

Narrated by: JL Collins, Kristy Shen
Length: 8 hrs and 40 mins
4.5 out of 5 stars (35 ratings)

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Summary

From two leaders of the FIRE (Financial Independence, Retire Early) movement, a bold, contrarian guide to retiring at any age, with a reproducible formula to financial independence.

A bull***t-free guide to growing your wealth, retiring early, and living life on your own terms.

Kristy Shen retired with a million dollars at the age of 31, and she did it without hitting a home run on the stock market, starting the next Snapchat in her garage, or investing in hot real estate. Learn how to cut down on spending without decreasing your quality of life, build a million-dollar portfolio, fortify your investments to survive bear markets and black-swan events, and use the 4 percent rule and the Yield Shield - so you can quit the rat race forever. Not everyone can become an entrepreneur or a real estate baron; the rest of us need Shen's mathematically proven approach to retire decades before 65.

PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your Library section along with the audio on our desktop site.

©2019 Bryce Leung, Kristy Shen (P)2019 Penguin Audio

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    2 out of 5 stars
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US and Canada focussed

70% of this book is relevant only to the US and Canada. Useless for UK.

4 people found this helpful

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How to get rich: avoid tax 😒

While there are some intriguing discussions in this about growing up incredibly poor and learning to prioritize one’s spending and make good choices of employment/investment, it lost me at the chapter on how to (legally) avoid paying any tax. While the author clearly grew up as part of an awful regime, she herself describes how she was angry with “rich people” who paid a smaller percentage to society than poor people, but then describes how she learned to be one of them.

Somewhere earlier in the book there’s discussion of how one only needs a certain amount of income to really be comfortable (after which it’s just an endless quest for more endorphins). I’m wondering how after that point it is ok to intentionally take away from the society you would presumably like to build up. Giving something back in charity after not paying a fair share in tax is still unjust.

There surely is some middle ground between ‘get rich quick’ and ‘screw schools, hospitals, and social welfare’ and communist China?

I liked the author and narrator of this book, especially after her shrewd attempts to help get herself and her family out of poverty. But the instructions on how to avoid tax (which don’t apply outside the U.S. or Canada anyway) were really disappointing.

1 person found this helpful

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interesting

great story, but for most people people in the West with a modest job and enough to go on holiday once a year gives them a purpose in life, without it they struggle to adapt and get depressed. we all need a purpose in life Kristy found hers.

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A roadmap to FIRE

An interesting and detailed roadmap to FIRE including details on ETFs and other long term investments

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Awesome audio book

Great book easy to listen to and flows nicely. Only issue for me is that it is best for Canadians or Americans (obviously as the author is Canadian) and not for UK people. I've given it 5* because it's absolute gold for Canadians and Americans!