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Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required

4.30  ·  Rating details ·  658 ratings  ·  95 reviews
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 thirty-one, and she did it without
Paperback, 336 pages
Published July 9th 2019 by Tarcherperigee
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Jul 09, 2019 rated it it was amazing  ·  review of another edition
My first thought was: "Another FIRE book? Is there anything new to say?"
Apparently there is. I absolutely loved the book.
Here a short pro and con List:

- Very US and Canada centered, even though not as much as other books. Only a few pages though.
- No "How To" for Newbies. This is more like a refinement for People who know how to invest a bit

+ Very personal book of Kristys Journey with a lot of wisdom to take with me
+ New Content that absolutely adds new dimensions to the Investment
Sep 12, 2019 rated it it was amazing
4.5 stars - Well damn. I was just trying to do some reading to figure out how to optimize my retirement strategy so that I could retire at 50. Now I'm thinking I could retire way sooner? This was excellent informative non-fiction, and I really loved how Shen incorporated her personal story to drive home how you can come from literally nothing, be super risk adverse, and still accelerate your road to financial independence.
Shannon A
Apr 01, 2019 rated it it was amazing
This book got me thinking about my Roth IRAs, my 401k and my savings/investments differently. Indexes? Who knew? Did you know that traveling the world actually can cost less than staying in one place (or home) for a year? Wow. This book will have you re-thinking how you think about money; and while I don’t think I’ll actually become a millionaire; I do know that this book has caused me to consider making an appointment ASAP to speak with my financial advisor and start asking more questions.
Luis Machado
Jul 21, 2019 rated it it was amazing  ·  review of another edition
Refreshingly mathematical, cheerfully approachable

This book is a wonderful memoir; a love letter to financial independence and an acknowledgement that we sacrifice for rewards worth having.

If you value your time and ability to chose how to spend it, read this book. You can read it slowly and take notes, or quickly and enjoy the experience. Either way, it gives a refreshing take on life, the pursuit of happiness and the value of money.

I recommend this book to anyone smart enough to have ever
Jul 09, 2019 rated it it was amazing
Reading the book, I felt like I spent a weekend just hanging out with the authors. The book is written in a way, where it feels like one of your friends just spilling all the secrets of FIRE to you. They share everything they learned along the way, and don’t hesitate to tell you why something is complete BS or why it works well. All in a way that you don’t feel they’re trying to persuade you into something. It's just an honest and frank discussion about how they’ve achieved FIRE.

Although they
Oct 08, 2019 rated it really liked it
3.5 — Was not a big fan of parts of this book, since I’m not an “optimizer” as the author writes. The word “retirement” was also liberally misused, instead of “financial independence” which is more accurate. She did not “retire” at the age of 31, since she’s now writing books (her true passion). She simply became financially independent. Did she really hate her engineering job THAT much?...

Arnold Schwarzenegger used a similar strategy of investing into real estate, thereby becoming a millionaire
Nomads With a Vision
Jul 12, 2019 rated it it was amazing
A fantastic book by Kristy and Bryce from Millennial Revolution! I attended a Chautauqua with them in Ecuador in 2017 and will always remember Kristy's kindness. At the meeting, we went down a mile-or-two-long trail that dropped about 2000 feet to a river. On the hike back up to the top, I was left in the dust by the very fit FIRE crowd. As I puffed along up the jungle path as night was falling, I began to wonder if anyone even remembered that I came along for the hike. As things were looking ...more
Siddharth Prabhu
Jul 12, 2019 rated it it was amazing
I got to know about Millennial Revolution when I found their blog online and I really loved the way they broke down complex investing terms and making it really easy to follow and invest in the stock market. I was very excited when I found that they had a book coming out and it did not disappoint. Kristy really takes you through the journey she and Bryce went through to becoming financially independent at the young age of 31! and explains the steps she took to achieve her goals. While the ...more
Valerie Brett
I can’t rate this book because I fundamentally disagree with its premise (capitalism). If you agree with capitalism, this book is full of great advice on how to legally not pay taxes, scrimp and save, pick a job you might hate because it’ll make you the most money, etc etc etc. This woman is a psycho I would not want to be friends with & her life sounds miserable. Is it worth it to have a miserable first 31 years and then a good rest of your life? She doesn’t acknowledge the luck of making ...more
Sep 21, 2019 rated it really liked it
So the first five chapters are just about one privileged woman who was raised in Toronto with a PhD educated father complaining about life. You end up throwing up a little in your mouth when someone who was raised in the west talks about how hard life was under Mao in China. Someone definitely needed to check their privilege along with their net worth on Mint.

The rest is pretty good though. She has studied the tax code well and identified strategies to delay paying taxes. She definitely shows
Ericka Clouther
She has some good points and ideas (though she seems to willfully ignore Dave Ramsey's existence) and I'll definitely raise this one more star if I manage to implement her investing concepts. We are committed to living in our house until the kids (and probably after) are out of school and I'm not even sure how much of what she talks about applies in that very common situation.
Kayla Wiens
Jul 10, 2019 rated it it was amazing
I have been a longtime fan of Kristy’s blog, and was so excited for the release of her new book. I have always consulted her blog for answers to specific investing questions. Now, in “Quit like a Millionaire”, readers have a comprehensive guide to FIRE that goes into the detail necessary to execute a solid plan. It is a perfect answer to all the detractors of FIRE! I feel so much more confident in my own plan, having read this book. Kristy’s story is inspiring, yet she explains FI in such a way ...more
Sep 01, 2019 rated it liked it  ·  review of another edition
A lot of interesting math in here for sure but no magic bullet. Be ready to sell your house and live in Airbnb’s in cheap foreign countries forever.
Adam Thiele
Jul 13, 2019 rated it it was amazing
So this is definitely not a typical finance book.

I was really looking forward to this book and it didn't disappoint. Kristy Shen takes you on her journey from poverty in China, immigration with her family with college and work that led to her saving and investing to become a millionaire, start a blog on early retirement at and retire at age 31, in a way that is simple to understand and more importantly, copy for yourself!

Along the way the book covers topics such as
Mr. Nomad
Jul 12, 2019 rated it it was amazing
In this step by step book to early retirement, Kristy & Bryce “math sh*t up” (a term they coined on their blog) so that nobody can argue with the numbers and the logic behind finances. They debunk some personal finance myths and will put you on your fastest path to reach your financial independence.

The content is so practical and well put together that I wish I had this material in my hands when I started my career as this would have saved me a TON of time figuring things out. This book is
Jul 09, 2019 rated it it was amazing
I have been following the Millennial Revolution blog since it was featured by CBC and thought that I knew a lot. And then I read this book. The book is in 3 parts; poverty (lessons learned) - middle-class (with useful tax and finance tips) - financial independence (with life-stage appropriate tips like nomad health insurance). I spent most of my reading time in the second part. None of the ideas presented are ground-breaking, but I have never seen tax strategies presented so clearly! Well done, ...more
João Cortez
Aug 17, 2019 rated it really liked it
Overall an interesting reading about FIRE (Financial Independence, Retire Early). It describes the personal story and journey of Kristy Chen who started in a situation of extreme poverty and through maximizing the revenue potential of her career together with a good savings strategy and a good investment plan, managed to retire in the early thirties. Now, she just travels the world and lives off her investments.
Natalie Keating
This is the best personal finance book I have EVER read. If you look at my "finance" shelf here on Goodreads, you can see that I pretty much hate all personal finance books I read. (Sad but true!) This one is the exception. I have a graduate degree in finance, I'm working on another graduate degree (in accounting), I read a lot about personal finance in general, and I STILL learned a ton by reading this.

My favorite part was Kristy actually references specific funds to invest in. So many books
Aug 19, 2019 rated it it was amazing  ·  review of another edition
This review has been hidden because it contains spoilers. To view it, click here.
Erica Lyn Burden
I follow Mister Money Moustache and Jillian Johnsrud, and through their blogs and social media found a recommendation for this book. I'm so glad. It's a unique story and a new take on financial independence and how adverse circumstances can play into making a better future for yourself. I loved it. There's also a bit of a different money strategy here for risk-averse people who can't stomach the broader approaches found in some of the other FIRE books. Highly recommended for anyone ...more
Another book on FIRE. While the title is correct that you don't need a trust fund, it does require you to have a six figure income so you can invest 60-70% of your income per year. That is not realistic for the average American.
Aug 25, 2019 rated it really liked it
Shelves: finances
Index investing allows you to invest in all companies at once rather than trying to pick out the winners. Indexes can't crash to zero. They have lower fees and they beat 85% of all actively managed mutual funds after feeds.

Take your yearly living expenses and multiply by twenty-five to get your target portfolio size. You an also divide by four. That's why the 4 Percent Rule is also called the Rule of 25.

Shylashree Chikkamuniyappa
This is the 1st book I have ever read on FIRE. It is divided into 3 parts. I didn’t really care about her childhood and journey but like the concept of scarcity, hoarding and freedom mind-set tied into it. My favorite chapter is 8 which hits the nail on view of money, buying and happiness. Page 148 on the idea of IRA conversion tax-free and penalty-free after 5 years was a practical advice, along with 4% rule of living expenses being equal to 4% of your investment portfolio. The most important ...more
Jul 19, 2019 rated it really liked it
“If you understand money, life is incredibly easy. If you don’t understand money, like the vast majority of people, life is incredibly hard.” I’m not sure how much I understand money but I only understand about 60% of the math in this book which is a shame because A) Shen likes to, as she says, “math shit up” and B) Shen has clearly figured out how to succeed in the system (if you can’t beat ‘em, join ‘em) and barring a global economic restructuring, the system is probably going to run things, ...more
Aug 12, 2019 rated it really liked it
Shelves: epub

*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 thirty-one, 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

Lady Brainsample
Aug 16, 2019 rated it really liked it
Beginning note: FIRE books only get 4 or 5 stars from me if I learn something new that I hadn't gleaned already from my own internet research on the topic.
A chunk of this book is definitely the usual into to FIRE, but I also learned more about how to deal with health insurance after retirement, some good info on student loans (thankfully not applicable to us anymore), a good section on buying a house, and some great information on how to keep kids from becoming too expensive. I also really
This book is great and it convinced me that index investing is the way to go.
David Quijano
Nov 07, 2019 rated it really liked it
I've been reading a lot of articles and blogs about "financial independence, retire early" (FIRE) lately. This book was mentioned in one of the articles I was reading. What particularly interested me about this book was that the article said the author, Kristy Shen, used actual numbers to describe how her financial plan worked. A lot of the financial stuff I read uses generic, hypothetical numbers or, even worse, no numbers at all. The fact that this book is actually based on real numbers makes ...more
Wendy (bardsblond)
I read a LOT of financial/business books. Many of them don’t contain advice that I’d consider helpful and some of them seem to be little more than ego-flexing by some random white dude who inherited his money. This book departs from that mold. Kristy Shen grew up in dire poverty in rural China. Unlike many financial gurus, her advice is replicable for a much larger percentage of her readers than most people who write in the financial advice arena. Particularly with respect to the FIRE movement ...more
Synthia Salomon
Sep 12, 2019 rated it it was amazing
I want to remember all of the rules I learned in this book and apply them. Some of the most helpful include the following:

Use the “Rule of 150” to decide whether to buy a house or use your money for something else.

“So say you’re looking at a monthly mortgage bill of $1,500. When you multiply that by 150 percent, you get your true cost – $2,250. If your Rule of 150 monthly cost is higher than your rent, it makes sense to stick it out in the rental market; if it’s lower, you might want to think
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Despite growing up in poverty and, at one point, living with her family on 44 cents a day, Kristy eventually became a millionaire at the age of 31 and retired from her job to travel the world. Her story has been featured in media outlets all over the world, including the New York Times, CBC, CNBC, Women's Health Magazine Australia, Germany’s Handelsblatt, GQ Russia, and the UK Independent. She now ...more
“The more stuff people owned, the unhappier and more stressed they tended to be. Conversely, the less stuff people owned and the more they spent on experiences like travel or learning new skills, the happier and more content they were.” 1 likes
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