Book Review: "Quit Like a Millionaire" by Kristy Shen & Bruce Lueng
Quit Like a Millionaire book cover

Money at 30: “Quit Like a Millionaire” Book Review

Quit Like a Millionaire

Earlier this year, I decided that one of my goals for 2020 was to do more book reviews. Somehow, this became both easier and harder to attain as quarantine set in. So, with my local library closed, I instead turned to Amazon to see what titles I should add to my queue. That’s how I first came across Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required by Kristy Shen and Bryce Leung (which it seems was first published nearly one year ago). As it turns out, that move to buy the book instead of borrowing it was a blessing as I can’t wait to hand this one off to friends curious about financial independence.

By virtue of the subject matter, Quit Like a Millionaire covers a lot of the same ground as other books I’ve reviewed, such as Work Optional, Financial Freedom, and Choose FI. Nevertheless, the book has a unique perspective and style that helps it to stand out. For one, Shen (who, despite co-authoring with her husband, takes on the role of the narrator) provides a fairly linear narrative, sharing her journey from poverty to early retirement and what she learned each step of the way. While most books of this kind do include some personal detail, I really liked this particular approach, which read as if you are discovering this information and having these revelations right alongside the authors. On a similar note, it’s really intriguing to see the book’s focus shift midway through as Shen moves from lessons she learned from being poor to those she’s learned from being rich.

As for the nuts and bolts of the book, in addition to necessary yet well-worn topics such as taxes and portfolio building, the authors include some topics I personally hadn’t heard of before. For example, they detail two features — they call the Cash Cushion and Yield Shield — that they built into their early retirement plan to help them weather down markets (and are hopefully serving them well now). I should also mention that, while Shen and Leung spent much of their careers in Canada, the book’s advice is geared mostly towards Americans, while still filling in the details for their fellow countrymen up north.

Perhaps one of my favorite parts of Quit Like a Millionaire were the sections specific to travel. Sure, plenty of FI-centric titles mention travel as an aspiration or throw in a few travel hacking tips, but Shen and Leung go well beyond that. Not only do they explain topics like geo arbitrage and how traveling more can actually help you save money but also go in-depth about their spending habits as globetrotting nomads — in which they manage to maintain the same level of spending as they did while staying put in Toronto, while hopping to a different city or continent every month. Although I’ve stated before that I’m not sure this level of nomadism is right for me, I still found it to be fascinating and, quite honestly, got me thinking.

Another section I found to be truly insightful was the final chapter (prior to the appendices, which we’ll discuss shortly). In it, the authors eloquently explain why some of the seemingly contradictory advice that personal finance experts offer isn’t necessarily right or wrong — going on to detail the different paths to wealth, which route they took, and laying out some options that may better suit you. On that note, there is plenty of back matter to the book as well, including a detailed breakdown of the couple’s annual income and spending on their way to FI.

This is where I’d normally share a minor criticism or two about the book. Yet, with Quit Like a Millionaire, I don’t really think I have any. In fact, for as much as I enjoyed the previous titles I mentioned — as evidenced by my positive reviews of them — I have to say that I believe I enjoyed this book more than any other. A big part of that comes from the writing style, which is humorous, casual, and approachable for laymen. On top of that, I also found myself relating more to the couple than I have with other authors, even though I’ve never cherished a Coke can as a pet nor, you know, made a million dollars.

For all of those reasons, if you’ve ever considered pursuing any level of financial independence and are looking for some first-hand insight served with some great storytelling, Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required may be the book for you. If you’re anything like me, you’ll walk away entertained, educated, and perhaps even motivated. As the authors note, money = time — and this book is worthy of both.


Kyle Burbank

Head Writer ~ Fioney
Kyle is the head writer for Fioney. He is a personal finance nerd, constantly looking for new apps and services to test and incorporate into his own financial game plan. In addition to his role at Fioney, he's written for other publications including Born2Invest, Lifehack, and Laughing Place, as well as his own site Money@30. He also creates personal finance and travel-related videos for Fioney's YouTube channel, which has garnered more than 2 million views. Currently, Kyle resides in Springfield, Missouri with his wife of 10 years. Together, they enjoy traveling (including visiting Disney Parks around the world), dining, and playing with their dog Rigby.

Other Articles by Kyle Burbank

2 Qatar Airways Privilege Club Credit Cards

Cardless Launches Two Qatar Airways Co-Branded Credit Cards

The FinTech startup Cardless is partnering with Qatar Airways to offer two new co-branded cards to the American market. About the cards: Recently, Cardless introduced its two latest rewards credit cards: The Qatar Airways Privilege Club Signature Card and the Qatar Airways Privilege Club Infinite Card. Starting with the Signature card, it earns 4x Avios on Qatar Airways purchases plus 2x Avios on dining purchases, and 1x Avios on all...
Yendo logo and credit card

Vehicle-Secured Credit Card Company Yendo Raises $165 Million

A FinTech that offers the first-ever credit card secured by a customer's vehicle has announced its latest round of funding. About the round: This week, Yendo announced that it had raised $165 million. However, this includes $150 million in debt financing and $15 million in equity. The debt portion was led by i80 group, while the strategic investors that participated in the equity round were not disclosed. Yendo previously raised...
woman holding her hands to her temple thinking

Lessons From a First-Time Home Buyer: Worst Time to Buy a House? There Are Always Exceptions

If you've been thinking about buying a house, looking at the news lately has likely disheartened you. As CNN reports, a recent Gallup poll found that 76% of Americans believe it's a bad time to buy — with only 21% saying it's a good time. There are several reasons for that sentiment, with the top two being the combination of high interest rates and high home prices. So, are you...
The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get the Latest News Delivered to Your Inbox

A Guide to Building Credit and Increasing Your Credit Scores

When it comes to credit, there’s some good news. The average credit score in the United States has been steadily rising in recent years, coming in at 715 in 2023. That may be because, today, consumers not only have more ways to access their credit reports and scores than ever before but also because there are an increasing number of options that Americans have for building credit in the first...

2024 SoFi Checking and Savings Review

Ever since I started taking an interest in the FinTech sector, one company whose name I’ve seen pop up over and over again is SoFi. Lately it seems as though that theme has been sent into overdrive as the company has not only become a household name thanks to its stadium naming rights deal but also because of the company’s continued product expansions. The most interesting development in my mind...
Brim logo

Brim Financial Raises $85 Million as It Eyes Global Expansion

Toronto-based FinTech infrastructure startup Brim Financial has announced a new funding round. About the round: Brim has revealed an $85 million round. The Series C was led by EDC Investments while new investor Vistara Growth and returning investors White Owl Group, Epic Ventures, and Zions Bank also participated. To date, the company has now raised $110 million including a Series B in 2021. According to Brim, the latest funding will...
Chase Freedom Flex card

Chase Reveals Q2 2024 Freedom 5%(+) Bonus Categories

Chase has announced its bonus category picks for the second quarter of 2024 — including some interesting twists. About the categories: As April approaches, Chase has revealed what categories Freedom and Freedom Flex cardholders can earn bonuses on. From April 1st through June 30th, customers can earn 5% (or more) in three categories:, Hotels, and Restaurants. Similar to how Chase embraced a "New Year, New Me" theme last quarter,...
Rent Day

Bilt Announces Home Collection Deal for May 2024 Rent Day

For May's Rent Day, Bilt is offering a deal that will allow members to decrease their rent bill while also adding to their home decor. About the Home Collection offer: Bilt has crafted a unique Rent Day offer for May 2024. Through the 1st, when Bilt members redeem their points toward rent payments, they'll receive the same number of points to be used toward Bilt Home Collection items. To take...