A few years ago, personal finance advisor Ric Edelman shocked my audience by telling you to never pay off your house, but instead keep as big a mortgage as possible. Today, Ric was back on my show to advise you to dump all your investments in retail mutual funds because of corruption and other problems in that industry over the last few years which have cost individual investors like you huge amounts of money.

That’s one of the big ideas in Ric’s new personal finance book, “The Lies About Money” (a great follow-up to the book I’ve said everyone should own, “The Truth About Money”), in which he addresses what you should do with your 401k or other investments instead of sticking them in the same old mutual funds.

I also asked Ric whether you should care that the Dow was up 120 points today, setting a new record over 14,000, on the 5th anniversary of the bull market. And we discussed whether we should be concerned about how baby boomers beginning to hit retirement age next year will have an effect on the rest of us economically.

Listen, then buy his book.