Ric Edelman's The Lies About Money exposes the flaws of the retail mutual fund industry, advocating for individual investors to shift towards institutional shares and exchange-traded funds (ETFs). The book details numerous deceptive practices within the retail mutual fund industry, such as market timing and misleading fund names, and emphasizes the importance of long-term investing, diversification, and portfolio rebalancing. Edelman provides a step-by-step guide, including a portfolio selection tool, to help readers build and manage their own investment portfolios effectively and inexpensively. He also addresses retirement planning, college savings, and the role of insurance and annuities in investment strategies, ultimately aiming to empower readers to make informed financial decisions.

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