Rickresource Rickenbacker Forum

Would love a recommendation on a good informational book/-s re: financial planning, retirement, college funds, IRAs, mutual funds, stocks, bonds, etc. for a liberal arts major seeking to understand the nuts and bolts of it all. Not above "for dummies," but looking for other suggestions, too.

Not looking for a career change - simply hoping to have a more informed conversations with my own financial folks.

I can't fix a car, but I understand the basics of how they work. I have no desire to become an auto mechanic, but at least when I'm talking to my auto mechanic, I can have an intelligent conversation and understand what they're telling me. And I think I know enough to gauge his trustworthiness. Unfortunately, the same is not true for finance - I want to get to that point in the world of finance where I am with my mechanic.

All suggestions welcome.

I can't speak for all facets of financial planning, but the best book I know of on the subject (in general) is The Richest Man in Babylon by George Samuel Clason:

http://www.amazon.com/The-Richest-Man-B ... 1607960664

It's a set of parables set in ancient Babylon that explain the basics of money, finances, investment and more. It's an old book, but a classic and still relevant.

You can probably get better advice from Ben Stein than you will from Donald Trump or that guy who owns the Dallas Mavericks

https://www.google.com/#q=Ben%20Stein%20books

Seek a fee-based only advisor. Your success directly affects his bottom line.

"xxxxxxxxx offers clients the opportunity to work on a fee-only basis. his allows us to offer truly objective financial advice and align our goals with our clients' goal - growing your assets. Through our fee-only program we are able to adjust your investment portfolio without requiring you to pay any commission. Most importantly, since annual fees are based on total assets under management, fee-only asset management ties our compensation directly to the performance of your account, thereby eliminating any conflicts of interest."

johnallg wrote:Seek a fee-based only advisor. Your success directly affects his bottom line. ....

Wise words.