Making money. Im 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, allstar 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. Were 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 wellworded 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 dont agree with those politicians who say lets cut the cost of college. Lets 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 youre going after college. They have enticed you in with all kind of promises and theyre 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. Theyre handing out the debt. They better quit doing that to people who cant pay it back. I admit we got a problem but its not the governments responsibility to solve it. Charles harvard has 41 billion. They say they got the best education in the world. Yeah. Charles why doesnt 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, im 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 wouldnt 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 dont 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 . Lets take that as a good example because amazon was enticed to come to new york city with large breaks, money, but they didnt 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 didnt get the money up front. Here is what weve 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. Lets go to the third question, go up the age a little bit. I want to hear from larry, 71yearold 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. Im 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 thats true . One, two. Stuart, the floor is yours. Let me answer larrys question. Charles i want to see how many people felt this. Obviously were in a tugofwar 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 frontrunners in the Democratic Party. Joe biden, socalled 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 doesnt work that way. Let me go on for a second. Charles please do. Im 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 didnt 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 . Youre set you lived a pretty good life. I assume youre 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. Youre 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. Thats true. 15love, larry, got me on that one. However, lets be realistic here, lets be realistic, even if progressive won and senate won and house stayed with the democrats i dont think you can get that level of confiscation out after leftwing congress and leftwing 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 singlepayer system. They gave it four years. They gave it vermont. This is Bernie Sanderss 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 cant 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 couldnt 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 theyre so big, almost 40 million people, it feels like every other state is almost obligated to fall behind them. And you know, theyre going down this path also. It is hard to ignore the threat right now. If it did happen, what would be the economic consequences . Lets 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 peoples 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 newlyminted 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 doesnt 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 dont think it is. On track for tragedy. Capitalism is based on individual liberty and freedom, the freedom to choose your destiny. I dont there is anything immoral about that. Dont 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 . Dont talk to me about absolute dollars. Talk to me about percentage terms and narrowing of the income gap because that is whats 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 . Weve got the answers you wont hear anywhere else. Our invested in you show will be right back in two minutes. Thank you. Alexa, tell me about neptunes sorrow. Its a masterstroke of heartache and redemption. The lexus nx. Modern utility for modern obstacles. Lease the 2020 nx 300 for 359 a month for 36 months. Experience amazing at your lexus dealer. Its an honor to lease thtell you that for 359 a mon[ applause ]nths. Thank you. Liberty mutual customizes your Car Insurance so you only pay for what you need. I love you only pay for what you need. Liberty. Liberty. Liberty. Liberty. 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Plus 0 interest for 24 months on all smart beds. Ends sunday. [applause] charles all right, folks, we are back with a fox business special presentation, invested in you. This hour were 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, well get right into it, because this is a crowd with a lot of questions and youre a woman with a lot of answers. Liz lets go. Charles first question from john. What do you have for liz . Wheres 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 thats 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, theyre 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. Lets not hear excuses from anybody. You understand what im saying, right . Charles now some Small Businesses and john may know what im talking about, phil, to your point, while he wont 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 exim bank, exportimport 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. Hewlettpackard 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 lowhanging fruit. Not easy for you to pick. Charles a fight worth fighting. Liz 100 . 100 . Charles lets go to julia, in fact one were wondering about. Liz to julia. Liz, what can won do to guarranty Financial Security in retirement . Liz thats a good one. Charles mary rich. Liz you guys, should find a lovely, wealthy woman. How many of you are fulltime 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 dont 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 dont care if it is short term, if it is temporary, start investing. So you say, liz, where . Im not an expert. I dont know, do index investing, very low cost. Do not pay high fees. That is the wall street scam of century, where youre paying for them to simply, what . Reflect the s p 500 . You should be putting money once a month, again, 10, 50. You wont even notice it after the first couple of month, right, after first couple of months, it is called dollarcost 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 dont 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 dont 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. Dont beat yourself if you dont 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 youre 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 dont own this stock. Go to 66yearold janet. Janet, what is your question . How do policys like blackrocks on Climate Change impact the investment outlook. Charles great question. Liz for those of you dont 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 doesnt 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 thats 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 youre 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 theyre saying a lot of businesses wont exist. Do you necessarily want an oil stock in your port if were 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 theyre coming out with hybrids. I finally bought a hybrid. Why not . Now i dont 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. Im not a believer in electric vehicles yet. I bought tesla at 30. I wish i was in it today. You dont 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 didnt like president trump, im staying out, this guy will tank the whole world. You have missed out on another epic rally. Dont vote, dont 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 doesnt seem to be useful work place skills. So is it time to bring back shop class . Millenials say they cant break into the housing market. Is the answer more than just saying no to ubereats every night . We have the answers when invested in you returns. Wherever we want to go, autosave your way there with chase. Chase. Make more of whats yours. Do you recall, not long ago we would walk on the sidewalk all around the wind blows we would only hold on to let go blow a kiss into the sun we need someone to lean on blow a kiss into the sun all we needed somebody to lean on the new xc90 plugin hybrid electric. Xc90. Recharged. 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Make more of whats yours. 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 allstars, questions that matter the most to you. With that lets 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 . Ive 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 were thinking about, dont sneeze, dont cough, dont fall, when i was walking out here. Charles my list is longer than that glad youre 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 bluecollar 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 couldnt type that fast. All these jobs that i originally interviewed for, i never got. Homeec 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 peoples skills have not kept up with how workforces have changed and how automation has changed in this country. Charles right. Dagen im all for experiencing all of these things, particularly in high school for one reason, because everybody is great at something. And i think when youre younger youre a teenager, youre in your 20s, youre 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 youre stupid but youre not. Youre just uneducated. Im from where you are and i know what youre thinking. Youre 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 theyre really good at cooking . Charles right. Dagen until theyre 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 dont 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 were light 60,000 welders. The reason we have a housing crisis we dont 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 dont 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 youre lucky youre really great at, youre 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, were in an area it is not about whitecollar jobs, or bluecollar jobs. She calls it new collar jobs. You dont 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 well 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 fouryear 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 TechnologyCompanies 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. Lets pick this up, daniel. The question on college. Hi, dagen, charles, how are you . Im 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 . Im loaded with tons and tons of debt. So that would help. Charles im 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 youre 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 dont have College Degree seeing the fastest wage gains, that youve seen those wages rising even faster. Rankandfile 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 mindboggling. A mindboggling 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 allin 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 fouryear education. Well it depends on the college and depends what you will go out and do. I made, i majored in art history. I dont 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 didnt have student loans. I cant 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 theyre 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 bachelors, 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 dont 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 didnt mean to put you on the spot. Charles 24yearold fabian. Whats 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 youre still going to school, if youre working, if youre trying to pay down debt, you know, there shouldnt 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 im saying. Dagen throw out something really quickly. My first home, which i dont 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. [ fastpaced drumming ] [ fastpaced drumming ] and my side super soft . Yes. With the sleep number 360 smart bed, on sale now, you can both adjust your comfort with your sleep number setting. Can it help me fall asleep faster . Yes, by gently warming your feet. But can it help keep me asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both comfortable. So, you can really promise better sleep . Not promise. Prove. Dont miss the final days of the ultimate sleep number event, save 50 on the sleep number 360 limited Edition Smart bed. Plus 0 interest for 24 months on all smart beds. Ends sunday. [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. Weve 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 im concerned about overreacting. On other hand im also concerned about america losing its preeminence to fight something when our greatest economic rivals arent 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. Theyre 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 theyre going to get us into them. I dont know how they will get folks out of a pickup truck into a tesla but they say theyre going to do it. You know, i will say this one more thing im 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. Well hear more about it. I dont 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 fulltime 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 theyre doing this. Around this country theyre 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. Im concerned the government may ruin it. I dont 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. Theyre 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, doesnt it . It is worth it to me to have the freedom to do what i want even though im 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, youre a secretary, you get Health Insurance f youre 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 doesnt have a mic. Asking about different rules where bartender doesnt 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, were 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 60yearold woman, with a question about baby boomers. William . Hi, charles. Great show. Charles thanks. The big concern for baby boomers rising cost of longterm care. Health insurance doesnt cover it. Private insurance doesnt cover it. A rising crisis. What is the fix . Charles i wish i could say 100 . Then could run for president. Because you know, its, 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 dont 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 lowhanging 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 were 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 cant. Telling you dont understand the market. It is too dangerous. It is too scary. Send us the money. Well 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 didnt 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, lets 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. Im confident it will happen if we move away from the foundation in order to really, truly appreciate it. It is there, folks. Im 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]. After my dvt blood clot, i wondered. Could another come around the corner. Or could it play out differently . I wanted to help protect myself. My doctor recommended eliquis. Eliquis is proven to treat and help prevent another dvt or pe blood clot. Almost 98 of patients on eliquis didnt experience another. And eliquis has significantly less major bleeding than the standard treatment. Eliquis is fdaapproved and has both. Dont stop eliquis unless your doctor tells you to. Eliquis can cause serious and in rare cases fatal bleeding. Dont take eliquis if you have an artificial heart valve or abnormal bleeding. If you had a spinal injection while on eliquis call your doctor right away if you have tingling numbness or muscle weakness. While taking eliquis, you may bruise more easily. And it may take longer than usual for bleeding to stop. Seek immediate medical care for sudden signs of bleeding like unusual bruising. Eliquis may increase your bleeding risk if you take certain medicines. Tell your doctor about all planed medical or dental procedures. Whats around the corner could be your moment. Ask your doctor about eliquis. Hello, i saw you move in, and i wanted to welcome you to the neighborhood with some homemade biscuits oh, thats so nice and a little tip, geico could help you save on homeowners insurance. Hmm cookies uhh, biscuits. Mmmm, is there a little nutmeg in there . Oh its my mums secret recipe. You can tell me. Its a secret. Is it cinnamon . Its my mums secret recipe. 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Tonight we are turning over most of this hour to an examination of one subjective, the most important subject of our time, the Democratic Party in league with the department of justice, the fbi and in addition to three of the nations intelligence agencies tried to impeach the president without evidence or crime of any kind, conspired to overthrow the president of the United States despite bringing the immense weight of those agencies and departments