From what I understand invertible is if we can equate x = f(x) of some form.. Whereas Inverse is where the function can be reflected across the y=x axis. Are those related in any way?
Is it true that only $f(x)=\frac{1}{x}$ out of these below functions are invertible? If so, why?
$f(x)=x^2, f(x)=|x|, f(x)=\frac{1}{x}, f(x)=2$
A function is invertible if and only if it is one-to-one. A one-to-one function is a function where no two inputs produce the same output, i.e. for all $a$ and $b$ in the domain of $f$, $$ f(a)=f(b)\implies a=b \, , $$ or, equivalently, $$ a\neq b\implies f(a)\neq f(b) \, . $$
As Martin R mentions in the comments, if $f(x)=x$ for some $x$, then $f$ is said to have a "fixed point" at $x$. This has nothing to do with whether $f$ is invertible.
So for each of your functions, you have to consider whether $f(a)=f(b)$ implies $a=b$. For instance, does $a^2=b^2$ imply that $a=b$?