SPRINGFIELD, Mo. — Financial independence can seem like an impossible dream, especially for those struggling with student loans, credit card debt, or overspending habits.
Finance professional Brad Pistole of Trinity Insurance & Financial Services gives us his 5 must-reads for financial freedom:
Dr. Wade Pfau – Safe retirement planning
Pfau describes this book as something that explains a different approach to financial retirement goals that first builds security through a reliable lifetime income floor.
Tom Hegna – Don’t Worry, Retire Happy: Seven Steps to Retirement Security
Don’t Worry Retire Happy provides a simple guide to retirement planning.
- Ed Slott – The New Retirement Savings Time Bomb: How to Take Control of Your Finances, Avoid Unnecessary Taxes, and Fight the Latest Threats to Your Retirement Savings.
- David McKnight – The Power of Zero: How to move into the 0% tax bracket and transform your retirement.
- George S. Clason – The Richest Man in Babylon
“(These) are for all ages. They focus on starting young and making sure you’re funding the right kind of accounts for your future. They will emphasize the importance of tax-free investments versus tax-deferred, which will mean taxable distributions later in life,” Pistole said.
“(Slott’s book) discusses all the different types of account options like 401ks, IRA, ROTH IRA, 403bs, etc. They will walk someone through the type of decisions that will help them determine whether they should choose a tax deduction now—using tax-deferred accounts or paying taxes now and funding future accounts tax-free,” Pistole said. “Tax-free = financial freedom.”
Patrick Kelly – Stress-Free Retreat
Ed Slott – Fund Your Future: A Tax-Smart Savings Plan in Your 20s and 30s
Merle Gilley – My Family Financial Miracle: A new way of thinking to protect and control your money
David McKnight – Tax Free Income for Life