"making money." i'm charles payne. yes we are invested in you. now over the next hour our studio audience they get to ask the questions. these questions will reflect the concerns of all americans. questions that will play a decisive role in the upcoming election in how we tackle the pivotal issues of our time. by the way, all-star fox business lineup. stuart varney, liz claman, dagen mcdowell. give them all a round of applause! [applause] we are going to tackle the war on the rich, student loan crisis, retirement. the economics of climate change. all of this and more, special live audience edition of "making money." bring them in. stuart varney you know him. host of the top market show on television. "varney & company." >> hi, everybody. [applause] charles: thank you very much stuart. >> my pleasure. we're going to get right to it. i know that is how you like to do it. situation son, give us your first question? >> i am a student, is it responsibility of the government to forgive student debt or cut the cost of higher education. charles: which one do you want? start varney, what do you think? >> a very well-worded question, young man. is it the responsibility of government. good question. let me start in the other direction. beware politicians offering freebies, basically buying votes. i don't agree with those politicians who say let's cut the cost of college. let's forgive your student debt. the last thing we want is a new entitlement program given towards education. but i will say this, the obama administration nationalized student debt. you get student debt through the government. so they are in charge of credit that goes to students. that is a very dangerous position, because you politicized credit, not good at all. what i want to see happen is, have colleges take some responsibility for the swaying that they have helped create. they are offering, extraordinary range of courses at great costs without any idea where you're going after college. they have enticed you in with all kind of promises and they're not accountable when those promises fall flat. i went them to be part of the solution to this problem. i think the government should also be a part of the solution to this problem. they're handing out the debt. they better quit doing that to people who can't pay it back. i admit we got a problem but it's not the government's responsibility to solve it. charles: harvard has $41 billion. they say they got the best education in the world. >> yeah. charles: why doesn't harvard pay for it? >> why not? charles: they can afford it. by the way did you go to college in part you felt maybe at some point part of the loan would be forgiven? no? you just went for yourself betterment. if it is forgiven, it is forgiven. for a long time it was implied particularly by the last administration maybe somewhere along the line. now being offered as political offering from several candidates. i was curious. great question. what a way to start it off. go to the next question from danielle, age 27. danielle, the floor is yours. >> hi, i'm an mba student and my question for you is, why is it that corporations receive welfare in the form of tax breaks yet they only pay their employees minimum wage? >> i wouldn't call that welfare. there is no check goes from the government to a private corporation. that is a form of welfare. a tax break that goes to a corporation is designed to help that company expand, hire more people, open new factories, new plant, get into new products, expand. that is the function of the tax break. i draw the line. that is not welfare. it is almost the exact opposite of welfare. it is encouragement to create and expand. you asked, look, why did they get these tax breaks and yet pay their workers minimum wayne? the answer to that is, the wages are, should be set and are largely set by supply and demand. if you don't have the skill to move up the food chain to get that job pay higher, get that skill. it is your responsiblity to do that, not the responsibility of the company to jack up your wages, simply because they have got a tax break from the government. charles: stuart, do you think there is any such thing though as crony capitalism or corporate welfare in any shape or form? >> yeah, it exists. sure does. charles: what about the situation in new york? aoc, amazon getting billions of dollars in incentives to come to the city? some people were in an uproar, they said that was example of corporate welfare? >> let's take that as a good example because amazon was enticed to come to new york city with large breaks, money, but they didn't get that money until they had hired workers, paid them a lot of money, built their headquarters. it was sort of a performance bonus, if you like. charles: right. >> they didn't get the money up front. here is what we've got for you, come on in. charles: right. >> here is what we got for you if you do this, that and the other. that is the exact opposite of corporate welfare. that is encouragement, not welfare. charles: we should point out they were competing against 50 other cities. fantastic other question. thanks very much. let's go to the third question, go up the age a little bit. i want to hear from larry, 71-year-old larry. what is your question? >> larry, you and i are the same age. >> excellent. charles: you look a lot better. >> i got makeup. it helps. >> my question is, if the progressives in november will they try to install more socialism? if they do, what impact will that have on the economy. charles: before you answer, before you answer, folks, i will ask everyone in here a question. i'm reading a book, it is called the future of capitalism. a lot of book says modern capitalism is unlimited in the potential of prosperity that it can bring to people but it is morally bankrupt and on track for tragedy. show of hands, how many people believe that? how many think that is possibility that's true? one, two. stuart, the floor is yours. >> let me answer larry's question. charles: i want to see how many people felt this. obviously we're in a tug-of-war in this country. >> we are indeed. your question was will progressives attempt to install socialism if they win the election. my answer, categorical yes. no question about it. look at front-runners in the democratic party. joe biden, so-called moderate. he is way out there on the left with taxes big spending and green new deal of sorts. i think till with be disaster. show me a economist who really believes you can take trillions of dollars out of private hands, give it to the government, have that work for growth and prosperity in our society? it doesn't work that way. let me go on for a second. charles: please do. >> i'm a refugee from socialism. i came to america in the 1970s leaving socialist britain. i have said this before. i will say it many times. in those days, in britain the government ran the coal mines, electricity, road transportation airlines, what else, trains. what else? across the board, car production. they ran it all and they ran it into the ground. they were based on socialist principles. it absolutely didn't work. and heaven forbid that we see the same thing happen to this great capitalist society where capitalism has given us prosperity. that is my answer, larry. it is a good question. thanks for asking it. charles: larry, why are you so concerned about it? you're set you lived a pretty good life. i assume you're okay. are you concerned about future generation. >> more immediate than that, actually. i have heard on occasion that progressives have suggested the public, converting our social security system to a public pension system. in the process, confiscating ira and 401(k) account balances to partially fund it. so i have a personal interest in the question because of concern over my own retirement security. >> you're rightly concerned, however, that is such a long shot, the idea of confiscating private pension wealth. >> there was a time when people would have said the same thing about confiscating gold. >> yeah. that's true. 15-love, larry, got me on that one. however, let's be realistic here, let's be realistic, even if progressive won and senate won and house stayed with the democrats i don't think you can get that level of confiscation out after left-wing congress and left-wing president. i think that is unreal expectation even for the socialists. >> we learned bernie sanders is now the leading candidate in the democratic party. he is like a juggernaut right now. >> right. charles: the promises he has made means they have to confiscate or redirect tons of money, perhaps trillions of dollars from somewhere. the largest pools of money are corporate profits are sitting in retirement accounts. must look entiesing because they already raise raided social security. if there was a social security lockbox, it would be empty, this would be cobwebs there. they have to raise something else. >> let me raise one problem bernie sanders has will surface big time. not many people in this room know for four years the sate of vermont tried to impose a socialized health care system, a single-payer system. they gave it four years. they gave it vermont. this is bernie sanders's home state. they tried for four years and gave up. they could not do it because they could not pay for it. that goes to the heart of your question. you can't pay for this stuff. he had to give it up in vermont. i think it is a huge problem going forward. he attempts to impose that on the whole nation when he couldn't do it in his own state. that is a problem 1/2. charles: meantime you do have progressive states like california which are rewriting rules on everything. because they're so big, almost 40 million people, it feels like every other state is almost obligated to fall behind them. and you know, they're going down this path also. it is hard to ignore the threat right now. if it did happen, what would be the economic consequences? let's assume they could do these things. >> in my opinion depression, no question about it. like i said before, you take trillions of dollars out of the private economy, private people's hands, you take tens of trillions out, you stick it to the government and they distribute it, that is depression situation. charles: are you shocked, stuart, at a newly-minted american, been here for a while but you just got your citizenship at the rejection, mounting rejection, not embrace of socialism but rejection of capitalism in this country? >> it seems like we have to relearn the lessons of history each generation. the lesson of history is socialism doesn't work. capitalism does work t seems that this generation i am not down on this generation, but i think they have to relearn the lessons of history. it is a painful lesson. charles: a young man in the audience raised his hand, agreed with the statement that capitalism is morally bankrupt. >> no, i don't think it is. >> on track for tragedy. >> capitalism is based on individual liberty and freedom, the freedom to choose your destiny. i don't there is anything immoral about that. don't talk to me about income inequality as dreadful thing. this administration, the trump administration is narrowing the income inequality gap. i tell you a fact, the lower 50% of the population, bottom half of the population, their net worth in this administration has gone up by 47%. the net worth of the top 1%, the rich, has gone up 13%. don't talk to me about absolute dollars. talk to me about percentage terms and narrowing of the income gap because that is what's going on now. you will never hear it in the establishment media because they have gone socialist. you will hear it from me, the income gap is narrowing, capitalist policies of donald trump. charles: ladies and gentlemen, stuart varney. that is why the man is a legend. >> he has my back. charles: all right. folks, it is a question nearly as old as time. how can we guarranty financial stability in retirement? 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[applause] charles: all right, folks, we are back with a fox business special presentation, "invested in you." this hour we're answering your questions about the ballooning student debt crisis, economy, retirement. so much more. joining us host of "the claman countdown, 3:00 p.m. eastern here on fox business. liz claman, everyone. [applause] liz: nice to see you. hello. wait. i got to say hi. nice to see you. how are you? hi, charles. charles: hello. liz claman, we'll get right into it, because this is a crowd with a lot of questions and you're a woman with a lot of answers. liz: let's go. charles: first question from john. what do you have for liz? where's john? liz: right there. hi, john. >> hi liz, hi, charles, thank you very much for taking my question. my question to you, what would be the best advice you would give small business? we are the driver of many markets and jobs but we create many jobs but we lack a lot of assistance. liz: that's true. by the way, how many small business owners we might have. can we see a show of hands? you have a couple in the audience. you guys are the backbone of this economy. that is certainly true. first thing, think like an owner, come up with a great name, trademark it. i would simply say when it comes to that, make sure in this age you have a digital strategy. you have to have a great and sexy, right, you need a sexy, sexy website that shows ease of use and do not look for the government to help you because the government is busy doing other things. you know, my father came to this country from canada and he started his own medical practice. he never once asked the government for help because he said, they're busy helping people who truly need the help. if you are coming up with an idea many, many people before you have done this, charles, they started small businesses. they have done it. i know one of my dear friend is a blind veteran. he was like "the hurt locker" guys. he neutralized bombs. blind and nearly deaf from his injuries he started a candy company, baking fudge by braille in his kitchen. he has a website. he has a 60,000 square foot kitchen, industrial kitchen. let's not hear excuses from anybody. you understand what i'm saying, right? charles: now some small businesses and john may know what i'm talking about, phil, to your point, while he won't ask for help from the government, it is these big large businesses, you know the chamber of commerce and the best roundtable, they do get help, zoning laws, taxing laws, you no so tough particularly as the economy blossoms. we keep hearing from small businesses they have to pay more for talent. it is a tough environment. you would think the blossoming thing, economy would be fantastic but it puts extra onus on small businesses to compete. liz: absolutely. the corporate cronyism, you know about the ex-im bank, export-import bank. you have big companies getting serious help. for the small businesses out there, chars, they are out there on their own. however i would remind everybody here, ibm started small. hewlett-packard started in in a garage. so did google. some started in dorm rooms. airbnb started in a apartment. they were so desperate money, they rented out an air bed. inflatable beds. american ingenuity is amazing this is the country of the american dream, if you fight hard for it, you will grab it. it is not low-hanging fruit. not easy for you to pick. charles: a fight worth fighting. liz: 100%. 100%. charles: let's go to julia, in fact one we're wondering about. liz: to julia. >> liz, what can won do to guarranty financial security in retirement? liz: that's a good one. charles: mary rich. liz: you guys, should find a lovely, wealthy woman. how many of you are full-time employed, raise your hands? of those, how many of you are in 401(k)s? i hope all of you. most important thing is, auto investing. auto debit, i don't care $10 a month, start early. i am guessing that you are in your '30s? >> '40s. liz: '40s, good for you. okay, i started late. i started in my late 20s. that is a mistake. the minute you get a job, i don't care if it is short term, if it is temporary, start investing. so you say, liz, where? i'm not an expert. i don't know, do index investing, very low cost. do not pay high fees. that is the wall street scam of century, where you're paying for them to simply, what? reflect the s&p 500? you should be putting money once a month, again, $10, $50. you won't even notice it after the first couple of month, right, after first couple of months, it is called dollar-cost averaging, whether the market is up or down, the most important thing is just start. remember, you got to be responsible for your own, you know, your own investment in your own retirement because there will not be a lot left for the millenials out there. you know, i care deeply about them. i really, really do. we want you as viewers. we want to educate you. so tune in. educate yourself. charles: right. liz: read books. watch fox business. charles: i think, maybe you guys would let me know, how many people are confident in the government and social security as a system? is anyone here only going to rely on that? i don't think so. i think everyone realizes you better take your own destiny into your hands because, you know, like i said earlier it is already bankrupt to begin with. certainly not going to be enough to fulfill your dreams. i would only add to that, you got to make some sacrifices too. this whole idea of yolo, you only live once or fear of missing out, all that stuff is great, right? you don't want to miss out. you can have a lot of fun at 60, let me tell you right now. and you can pay for it. keep that in mind. make a few sacrifices for the great, great life. make the golden years indeed your golden years. liz: that goes to the young man in the flannel shirt. i bet he is a millenial. i can tell. it is important, charles, for everyone to figure out what you will need in the future and overestimate it. overestimate what you will need. then just start socking away. don't beat yourself if you don't have a lot of money. tune out everybody else. just auto debit into savings. not a savings account. they are not paying anything right now when it comes to interest. go into the great american stock market or, an index fund or an etf, exchange traded fund. say you're a believer in electric vehicles. i believe in that. i believe in wind power, whatever it may be. i believe in energy or i believe in solar panels. you can pick an exchange traded fund versus picking one single name putting all your eggs in one single basket. charles: i am sure everyone here, i think i remember thinking about buying apple stock five or 10 years ago. you kick yourself. apple is on every day and i don't own this stock. go to 66-year-old janet. janet, what is your question? >> how do policy's like blackrocks on climate change impact the investment outlook. charles: great question. liz: for those of you don't know, larry fink who runs blackrock, the biggest fund, $7 trillion, just came out in his new letter and said that they are now going to go for sustainable investing. that doesn't mean they will divest of everything from coal to energy but every investment decision now on will take into account that we have a problem with climate change and that's what he says he is going to do. i would argue he is one of the most successful capitalist investors of our time. he may even be a little late. if you're talking not about politics this, is not a political issue. that is what he specifically said. charles: right. liz: he said you have to look what is happening in the world. you have to figure it may meaningfully change the investing landscape, charles. which i found fascinating. charles: we talked about there is socially conscious investing known as esg. this comes under the umbrella of that. i watched blackrock website and the video is sophisticated gobbledygook. they will invest based on social score, as much as bottom line and profit margins. what is ominous they're saying a lot of businesses won't exist. do you necessarily want an oil stock in your port if we're going to be forced out of oil or eventually get off it? liz: did you notice within it, you see the s&p 500 over the past 10 years nearly tripled but the s&p energy index which has fossil fuels in it up only 2% over the same period of time. it could be cyclical, what goes up, what comes down, goes back up again, seven years of feast, seven years of famine. but you see if there are more electric vehicles in the road. or every car company, whether porsche or ford they're coming out with hybrids. i finally bought a hybrid. why not? now i don't have to go to the gas station all the time. my next car will be all electric. i think the technology has come there. it is not a political thing. simply what is the next thing? we want to evolve. this is beyond red and blue and green. it is about green. i think what he is going to do with $7 trillion in money will actually affect how other big investors. charles: no doubt, wave of the future. most important thing liz is saying think about your own personal experience. i'm not a believer in electric vehicles yet. i bought tesla at 30. i wish i was in it today. you don't always have to own necessarily you believe in. put a finger in the world, find out which way the world is going. hitch your wag bonn to it, right? >> liz: absolutely. i heard this charles say this a long time ago when president barack obama was elected, he said do not vote how you feel about politics. you will lose money. people -- charles: do not invest. liz: people who did not like obama, who stayed out of market, missed 100% gain in the dow jones industrials. same with president trump. if you didn't like president trump, i'm staying out, this guy will tank the whole world. you have missed out on another epic rally. don't vote, don't do your pocketbook with the way you vote. charles: two different things. folks, liz claman. [applause] liz: thank you. thanks, charles. charles: thank you so much. what are we teaching kids in school these days? certainly doesn't seem to be useful work place skills. so is it time to bring back shop class? millenials say they can't break into the housing market. is the answer more than just saying no to uber-eats every night? we have the answers when "invested in you" returns. at fidelity, online u.s. stocks and etfs are commission-free. and when you open a new brokerage account, your cash is automatically invested at a great rate. that's why fidelity leads the industry in value while our competition continues to talk. ♪ talk, talk are critical skills for scientists at 3m. one of the products i helped develop was a softer, more secure diaper closure. as a mom, i knew it had to work. there were babies involved... and they weren't saying much. i envisioned what it's like for babies to have diapers around them. that's what we do at 3m, we listen to people, even those who don't have a voice. at the end of the day, we are people helping people. and you know what they isay about curiosity. it'll ruin your house. so get allstate and be better protected from mayhem, like meow. ♪. charles: welcome back to our fox business special presentation, "invested in you." here we are giving you a platform to ask questions of some of our favorite fox business all-stars, questions that matter the most to you. with that let's bring in our next guest. virginia native on "mornings with maria" on fox business network, every morning, sex a.m. eastern time. she is on "outnumbered" and other shows on the fox news network, ladies and gentlemen, here is dagen mcdowell. [applause] dagen: hi. do i get to do my princess margaret wave? i've been watching the crowd. dying to do that. this is glamorous world of tv you have to carry your microphone and ifb pack around you. charles: margaret thing, they have a open slot in the royal family. dagen: we're thinking about, don't sneeze, don't cough, don't fall, when i was walking out here. charles: my list is longer than that glad you're here, dagen. get right into it. i think you will love this question. dagen: okay. charles: brian, 37, go. >> how are you doing, guys? how can we improved lack of skilled workers in the blue-collar industries? should we bring back home economics? bring back wood shop, automotive class? charles: great question. dagen: did you take shop? charles: no, i went to art school. dagen: this goes to something i experienced when i started working. when i moved to new york city, all, i interviewed for a bunch of jobs at like magazines and publishing companies. never ended up working there. all they cared about that i could type and i couldn't type that fast. all these jobs that i originally interviewed for, i never got. home-ec still exists. called family and consumer sciences. they renamed it. the skills gap we talk about all the time is in science, technology, engineering, mathematics, those stem jobs where people's skills have not kept up with how workforces have changed and how automation has changed in this country. charles: right. dagen: i'm all for experiencing all of these things, particularly in high school for one reason, because everybody is great at something. and i think when you're younger you're a teenager, you're in your 20s, you're just looking for that one thing. i would, really quickly. so my dad sent me a text message earlier. this goes to my personal story. he sent me a text message, said i was just at the golden skill let and barbara told me you would be on a live special with charles payne at 2:00 p.m. i bring up this woman barbara bass, because barbara i was lucky enough to go to private school when i was in high school and barbara was that one teacher who looked at me sitting way in the back of the classroom, and she said, miss mcdowell, i see you hiding in the back of the classroom. i know you think you're stupid but you're not. you're just uneducated. i'm from where you are and i know what you're thinking. you're not dumb. get it out of your head. and she changed my life. because she taught me i was a young woman, in the mid '80s, that i was good at math. it is a combination of things. how many people love to cook but they never discover that they're really good at cooking? charles: right. dagen: until they're older. that could be a career. through a home economic or family, consume every sciences class, you discover that at an early age. you realize, i don't need to go to a four year university. i would be much better going into the culinary institute of america. charles: one of the other issues, comes to working with your hands, getting your hands dirty, over last 20, 30 years, there is stigma. to your point, associated with being less educated. everyone wanted to move to the big cities, have sophisticated jobs. now we're light 60,000 welders. the reason we have a housing crisis we don't have any construction workers now doing, when the housing markets fell apart, traditional apprenticeships went away as well. so there a giant gulf there. we don't have carpenters in this country. so i think, the question is, you know, how do we make that, people, understand that those are amazing jobs. you can send your kids to college. you can provide for a life for people, you can take pride and dignity. i believe it is coming back. dagen: finding that one thing or two or three things if you're lucky you're really great at, you're passionate about because you enjoy. that is part of it. you enjoy what you get to do for a living. charles: the other part, this is a little bit to what you all talking about, ceo of ibm, gina rometty, we're in an area it is not about white-collar jobs, or blue-collar jobs. she calls it new collar jobs. you don't necessarily need a four year degree. you need more than high school. this is where the rub comes in. who pays for education? should it be government or should it be business? dagen: business. charles: show of hands, who thinks business should train for those kind of skills? who thinks it is local governments should pay for it? most people think businesses should make that investment. dagen: they are. charles: they are starting to. dagen: one thing we'll look at, get talk about college, peaking for college -- charles: tell you what -- dagen: my brother and i have this conversation all the time. if we had to do it again, neither one of us would go to a four-year university. we would try to find a school or a company, a business, to hire us coming out of high school that saw value in us. that would teach us what we need to know to work at that company. there are a lot of the big technology companies hire right out of college. charles: the cost of college -- dagen: i mean right out of high school. charles: it is a big issue for people of all ages. daniel has a really interesting question. let's pick this up, daniel. the question on college. >> hi, dagen, charles, how are you? i'm a recent graduate of nyu. charles: congratulations. >> thank you. charles: should i say congratulations? >> well -- charles: can i buy you a beer? can we give daniel a beer? >> i'm loaded with tons and tons of debt. so that would help. charles: i'm sorry, can we get daniel a whiskey. dagen: you have a lot of money. you can write him a check. >> i will take that too. economic outlook seems to be pretty positive, wages are up. my question is, two questions, do you higher wages reason why college tuition is so expensive or would you say going to more expensive colleges get you higher wages? dagen: do you want to start with that? charles: you're the guest. dagen: i will say, i will point out one thing again a degree from nyu. maria bartiromo is at board at new york university because that is her alma mater, i wanted to point that out, that it is actually right now, less educated workers, people who don't have college degree seeing the fastest wage gains, that you've seen those wages rising even faster. rank-and-file workers, factory workers, their wages are going up faster than the richest people in america. wages have risen over 6% annual clip for people without a high school, high school degree, which is even faster than those with a college degree. a lot of what is driving the cost of college because college, the price of college has increased eight times faster than wages. if you go back to 1989. so -- charles: that is mind-boggling. a mind-boggling statistic to think about. dagen: i went to wake forest university. it was $7500 a year when i started school there. it is now about, total all-in about $75,000. charles: what is driving, that dagen? was it the government getting involved in it? not to cast aspersions to anyone, the middleman was cut out during the great recession. cut the middleman out, the government will deal directly with the loans. feels like over the last decade or so, it really has been parabolic? it has taken off like a rocket. dagen: it has, not to throw blame at people, some of the same problem during the housing boom, availability of credit, that it was like take out a loan, take out a loan and i do feel like, not with nyu, but people in america were sold a big lie, somehow these colleges were worth $100,000 for a four year education or quarter of a million dollars for a four-year education. well it depends on the college and depends what you will go out and do. i made, i majored in art history. i don't regret it but wake was cheap back then. my whole family, grandparents were able to pay for my education. but i got out, i lived in colorado working as a gardner, running a register essentially a cafeteria on a mountain for two years. i could support my seven, because i didn't have student loans. i can't even imagine the burden of having those student loans. really depends, you know what? i think the top 20 schools in this country are worth what they're charging but a lot of liberal arts colleges, you pay 100, $200,000 a year to go to are just not worth it. charles: i will say in the last employment report, people with less than high school had 5.2% unemployment. high school, 3.7% unemployment. some college less than 3%. if you had a bachelor's, better, unemployment was less than 2%. it is expensive. you get what you pay for. i think if you avoid basket weaving you will be okay. dagen: can i ask, daniel, i don't want to put you on the spot, what do you want to do, what field do you want to go into? >> foreign policy, foreign relations. dagen: you would say work in the government initially? you know what? you get great benefits. that does help. what about the -- charles: get to travel a little bit. one more question. dagen: i didn't mean to put you on the spot. charles: 24-year-old fabian. what's your question. >> thanks for taking the question. how can someone working full time while paying for school save enough to invest in real estate? dagen: invest in real estate is saving to buy your first home. you can look at it like that. for somebody who is young, if you're still going to school, if you're working, if you're trying to pay down debt, you know, there shouldn't be that rush to buy something. it really depends where you you. charles: right. dagen: this is a good point, real estate is an investment. so your first home is an investment. if the real estate in your area is really expensive, you kind of have to wait. you have to wait, interest rates are extremely low. mortgage rates are extremely low. there are a lot of areas around the country are expensive. charles: right. bottom line? sacrifice, sacrifice, sacrifice. coachella, if you want to go for coachella for three days, 2284 bucks. skip coachella. start investing in real estate. that is all i'm saying. dagen: throw out something really quickly. my first home, which i don't own anymore, i took a loan from my 401(k) plan which people always discourage. but its is your money. a way to access it without any penalty. you pay it back. charles: right. dagen: a lot of financial planners not to do that but start with your 401(k), because again it reducing your taxable burden. it comes right out. get a match from the company very often. great way to accumulate money. give you a nest egg to then go out to buy a piece of property if you want to. charles: skip coachella. dagen mcdowell. [applause] all right, folks. gig companies like uber revolutionized what it means to be an employee and make money but can this model spread even further? our special investing in you will be right back. ♪. [applause] sometimes your small screen is your big screen. and with the xfinity stream app, which is free with your service, you can take a spin through on demand shows, or stream live tv. download your dvr'd shows and movies on the fly. even record from right where you are. whether you're travelling around the country or around the house, keep what you watch with you. download the xfinity stream app and watch all the shows you love. it's our most dangerous addiction. and to get the whole world clean? that takes a lot more than an alternative. so we took our worst vice, and turned it into the dna for a better system. materials made from recycled plastic - woven and molded into all the things we consume. we created bionic and put the word out with godaddy. what will you change? make the world you want. ♪ [applause] charles: welcome back to our fox business special presentation, "invested in you." this hour we been asking the questions or you have been asking the questions that matter to you. we've heard some fantastic questions about housing student debt, financial security. i want to squeeze in a few more questions. i want to begin with jean. jean, what is your question. >> hi, thank you for my question. i have a question about climate change. what financial burden does climate change have on our economy and in the future and how do we safeguard against that? charles: there is one of these issues, no one really knows, there is a lot of guess estimates. some say we already run out of time. some say we have 10 or 12 years to fix everything. it is difficult thing for me, jane. one hand i'm concerned about overreacting. on other hand i'm also concerned about america losing its preeminence to fight something when our greatest economic rivals aren't fighting it. so you know, are we going to make certain sacrifices when china is not making those sacrifices and india is not making those sacrifices, and russia is not making those sacrifices? so it is a very delicate thing. you know we hear candidates running for office talking about these green initiatives. some with price tag as as high as $33 trillion. where do we get this money from? how do we deal with it? so i grapple with it every single day. it is something we obviously talked earlier in the show. big money and smart people, smart investors, largest investors in the world are paying attention to it. they're making adjustments. governments around the world are forcing going to forces into things like electric vehicles. right now, unless it is a tesla, there is zero demand for electric vehicles but almost every single company around the world announced monster initiatives, huge initiatives to start building them right now. so somehow they're going to get us into them. i don't know how they will get folks out of a pickup truck into a tesla but they say they're going to do it. you know, i will say this one more thing i'm concerned about, there is the cost, there is another cost to this, folks and that is overreacting. and just so you know as cautionary tale, back in 1796 a guy named thomas maltas, wrote a theory about the population getting too large. we would run out of resources t was so powerful governments around the world started to change their policies. consequently we ended up with sterilization of people. 70,000 people were sterilized in this country. the potato famine in ireland. we can overreact to things that never happen. we have to walk a delicate balance. i know it is a issue. we'll hear more about it. i don't want america to unplug completely because we need power to be the biggest country in the world. i want a question on what is actually becoming a big issue these days, also, that is the gig economy is alexandra. >> thanks for taking my question. i am a full-time freelance writer and photographer. the gig economy is near and dear to my heart. i have two questions for you. do you think the gig economy is ultimately a good thing? do you think the u.s. workforce is heading towards an entire gig economy in the future? charles: first of all, i love the figure economy. it is not just uber, right? freelance writers or babysitters. it has been with us for a long time. it mushroomed into something formidable, certainly helping people to pay their bills. the problem though is that there is a major backlash against it. california more or less declared war against the gig economy. and then illinois, chicago, illinois has done the same thing. i think in detroit they're doing this. around this country they're making it tough for people to go out and hustle. when i grew up in my neighborhood we used to call it scrambling. i loved it, someone working at the post office used to sell hotdogs out the first floor window, right? people had more than one gig, because you had the household. in my neighborhood it was scrambling. i admire scramblers. right now i have seven gigs if you add them all up. i'm concerned the government may ruin it. i don't get it. i think some of our politicians trying to force gig workers to join unions. some of it is protecting established businesses. in new york city, the medallions in new york city for cab drivers used to cost $1.3 million? that is lot of political power. they're down to 100, 200 grand right now. it is a wonderful thing. i think governments may actually ruin what i think is a wonderful thing, the ability to go out there to make ends meet. you know, it gives you certain freedoms, doesn't it? >> it is worth it to me to have the freedom to do what i want even though i'm not getting benefits. i think it would be a terrible thing if the government -- charles: freedom is a benefit also. >> to me the best benefit of all. so for them to shut it down i think is -- charles: any other gig workers. anybody else out there scrambling about, hustling, selling weed on the side? no? did you raise your hand? [laughter]. we got a question in the back. >> i never understood it if you work 9:00 to 5:00, you're a secretary, you get health insurance f you're a bartender you have to buy it afterwards. i never under the equity. working 9:00 to 5:00 how is that fair. charles: he doesn't have a mic. asking about different rules where bartender doesn't get benefits while someone working in office gets benefits where the government establishing those rules. one of those things, the more we take government out of the idea we all have initiative, we all have dreams, we all have desires, we all have the ability to reach them. the more, this is, by the way, this is what 2020 is all about really. i think america, we're being asked as a country, do you want a government, live in a country where a government does everything for you, or do you want to live in a country where the government goes out of the way, you can do for yourself? i want to 60-year-old woman, with a question about baby boomers. william? >> hi, charles. great show. charles: thanks. >> the big concern for baby boomers rising cost of long-term care. health insurance doesn't cover it. private insurance doesn't cover it. a rising crisis. what is the fix? charles: i wish i could say 100%. then could run for president. because you know, it's, it is central issue. the midterms elections were decided on issues like this, along with child care and others. i do believe the fix. i don't want sound like broken record. allow our capitalism to come up with a market driven solution where competition decides. i think 50 years ago, first computer filled up this room. it cost like a gazillion dollars. now you can get a stick like this, with the same computing power for five bucks, right? or give it to you somewhere as a tchotkes. i think the same thing can happen with our medical system if the government gets out of the way. it is low-hanging fruit for politicians to say, forget it. let me problem is it to you. i will give it to you. unfortunately there will be generations and it could be yours, ends up paying a heavy price for that because we're definitely learning the hard way. will you vote for me anyway? time for one more question, one of my favorite things, the stock market. where is matthew? matthew, you have a question about the market? >> hi, great to be here. charles: thank you. >> my question was, do you think that young people in particular are educated enough in the stock market to make smart financial decisions. charles: absolutely. >> particularly in investment accounts, lower debt, increase savings? charles: absolutely, 100%. first of all folks, everyone in the room is smart enough to invest in the stock market. wall street spent the last 200 years you can't. telling you don't understand the market. it is too dangerous. it is too scary. send us the money. we'll do it for you. what do they do? they buy the stuff you love. they take your money and they buy apple. they take your money and buy amazon. they take your money, buy the things that you know. here is the irony you know this stuff is great before they know. you know it is fantastic. i remember when coach was a hip store. you remember a few years ago, it was status symbol. all of sudden michael kors started coming in. all the women in my family they didn't want coach. they want the coors. they knew about that before wall street. if you bought the stock then you would have made a fortune. you know so much more than you think you do. listen i want to thank all of you. we discussed some very important issue these daystoday. these issues will not only determine who wins the white house in november, let's be honest what will happen in the country for years to come. no doubt capitalism will look different, folks. will the spirit that catapulted america ahead of all other nations in the world, by the way in a very short period of time continue to drive the ethos of this nation? that is the question. i'm confident it will happen if we move away from the foundation in order to really, truly appreciate it. it is there, folks. i'm an eternal optimism. i see the country living up to potential and greater participation in prosperity and i see great answers to challenges instead of panic. it might get rocky but only america can defeat america. it is not going to happen no matter how hard we try. thank you all very much. hope to see you back here on "making money." every weekday, 2:00 p.m., really appreciate it. thank you all very much. [applause] ♪. ♪ ♪ ♪ everything your trip needs for everyone you love. expedia. for everyone you love. oh, your she's landed.ed. and she's on her way to our house. what. i thought she was coming next weekend. i got it. alexa. start the coffee. set the temperature to 72. start roomba. we got this... don't look. what? don't look. lets move. ♪ mom. the lexus es, eagerly prepared for the unexpected. lease the 2020 es 350 for $389 a month for 36 months. experience amazing at your lexus dealer. liz: good afternoon, everybody, i'm liz claman. breaking news, the world health organization has just issued a statement on the new and worrisome virus spreading from china. we're getting the facts together, so stand by. even as the world waits, wonders and worries about the coronavirus, two specific records are still in sight on wall street thanks to a slew of positive earnings results grabbing investors' gaze. are we about to see the s&p and the nasdaq head straight for another photo finish? tesla's ceo elon musk doing the happy dance, or is he digging his heels into short sellers' faces? shares of the electric vehicle