Parness, Michael (Author) Mar 2009. 288 p. St. Martin's, hardcover, $25.95. (9780312375751). 332.024. The advice given here prompts every American, wealthy or not, to not only understand finances but also tom anage money—not invest it for the long term. It begins, as most financial planners agree, with a firma nalysis of one’s assets, liabilities, and needs, including all types of insurance, estate planning, and an objective look at Social Security. Then the usual content follows, including discussions of 401(k)s, mutualfunds, bonds and bond funds, cash, and asset allocation. Yet the author does dive into the kinds of tips usually known only by financial pros, such as possible fleecing—in terms of management fees—from mutual fund companies, the differences between mutual funds and the advantages of ETFs, and defining the bond ladder with a few simple how-tos. Part three, then, clinches the deal, where Parness shares some ideas and tricks used by traders—and inveighs against investors. With end-of-chapter quizzes and an approachable colloquial writing style, Parness helps ensure his future as a TV and radio expert.