The Savage Truth about Money

Short on hype and long on wisdom that has withstood the test of time, Savage's latest is as useful as a personal finance book can be. In 10 chapters that eachinclude a recap of the main points, Savage (Terry Savage Talks Money, etc.), the personal finance commentator for PBS's Nightly Business Report, lays out the facts about acquiring and managing money, buying insurance, putting children through college, saving for retirement and estate planning. Among her ""Savage Truths"": ""the most powerful money emotions are fear and greed.... noticing the symptoms and gaining the courage to surmount these emotions is the first task in managing money."" She goes on to address a wide array of financial issues, including how to find your credit rating and how to check the status of your company's 401K plan. She warns of the pitfalls of different types of IRAs and insurance policies, and she takes a conservative approach to stocks, advising readers to invest only what they can afford and to stay in for the long haul rather than seek a quick killing. Information is divided into digestible chunks, and each chapter concludes with a ""to do"" list. For example, at the end of her chapter on women and money, Savage advises women to set up their own retirement plans whether or not they work outside the home. A model of clear-headedness, Savage is the ideal guide to the daunting personal finance landscape. Money Book Club main selection; BOMC alternate selection. (Oct.)