James Cloonan is the founder of the American Association of Individual Investors, a nonprofit educational organization for do-it-yourself investors. He distills a lifetime of research, insight and history to show why individuals are better off using a new and straightforward approach that is tailor-made for today's longer-term investor. He begins by explaining why conventional investment approaches rob most investors of half their potential retirement wealth and then moves on to the real nature of investment risk and how it can be used to an investor's advantage. Cloonan describes best practices for investors who want to get a handle on investment risk and learn how to consistently outpace the market, even with a passive approach. He shows how to use time diversification and stock diversification to implement his new approach, which he calls Level3 Investing.