hockey27

Check out The intelligent investor by Benjamin Graham

flap

A Random Walk Down Wall Street.

Very good read. Definitively makes the case for passive investing.

"Especially in the wake of the financial meltdown, readers will hunger for Burton G. Malkiel s reassuring, authoritative, gimmick-free, and perennially best-selling guide to investing.

With 1.5 million copies sold, A Random Walk Down Wall Street has long been established as the first book to purchase when starting a portfolio.

In addition to covering the full range of investment opportunities, the book features new material on the Great Recession and the global credit crisis as well as an increased focus on the long-term potential of emerging markets.

With a new supplement that tackles the increasingly complex world of derivatives, along with the book s classic life-cycle guide to investing, A Random Walk Down Wall Street remains the best investment guide money can buy."

Smooth at FL450

I 2nd Random Walk. “Instead of trying to find the needle in the haystack, just buy the haystack”

And anything by Jack Bogle

Fourpaw

Thanks for all the great books to read!

rickair7777

My favorite financial book is quite short, one word really: Diversity

Since you don't have a crystal ball (and neither does anyone else, except possibly WB), diversity dilutes your risk across multiple investment mechanisms.

Books can help you understand those mechanisms, but ultimately it's your call to strike a balance that works for you (risk tolerance vs greed). A good professional advisor can translate your personal needs into a reasonable strategy. That strategy can (and typically should) change with time, as your age, circumstances and the broader economy change.

Anybody with a hot tip fad kind of strategy is a con man. Or you won't know either way until it's too late. If you want to beat the odds, learn to count cards and go to Vegas.

drywhitetoast

Bogleheads Guide to Investing .
Also the bogleheads forum has a wealth of information.

chewbaca

the fees you pay will be made up on not buying and reading useless books

742Dash

Living off Your Money by McClung, particularly if you are within 20 years of your target retirement date.

You can get it at Amazon, of course, but the first three chapters are free to download here.

Best approach, IMO, is to buy the paperback version, get it drilled at the local office supply and put it in a binder.

This is not your typical financial book. No secret key to life, no magic solutions. Just a hard, data driven look at different methodologies that leads to a set of best practices.

Stoked27

I'll second this. It's possible to be an expert in both aviation and finance, but there's probably more pilot Type A personalities thinking they're experts in both than there are actually are. Plenty of opportunities from potential complex strategies that high income earners will miss out on by trying to do it all themselves.

Never hurts reading and learning to build our knowledge, but for high income earners to rule out professional advice would (IMO) be comparable to someone saying they're buying a Citation and getting their PPL.

*Not saying anyone in particular is adverse to getting advice, just adding to Chewbaca's post.