The latest reports on american wages painting a grim picture of a recovery five years in the making. The typical household words a third lesson was 10 years ago and many of the countries most Popular Companies are offering some of the worst Retirement Plans on the market. We are covering your assets tonight. Pete crowley, Mitch Tuchman who is a manager director and a nationally syndicated consumer expert and host. Welcome to each of you. It is great to have you here. Starting with these numbers that blew me away over the weekend. Net worth perceptively down 32,000 in just the last 10 years. This is not good news out there. His talk to a lot of people out there and youre hearing from consumers all over the country. Is that what you are hearing . It does make sense and the reason why is that consumers in the middle have all of their wealth tied up in housing. When the Housing Market greater, so did the net worth and the reality is if you live by the house it doesnt get the job done and you have to save for retirement and taxfree retirement accounts if you really want to see your net worth go up into stable kind of way over time. You look at the income and its still not ready for news. So this is according to the label labor department. So what is behind these numbers . The declining status of Middle America getting squeezed. You talk to americans and advise them. What are you hearing . We hear that people jobs are being threatened obviously by Productive Technology that is making people, you know, their jobs are being taken away and things like that. But most of the people we speak of are those who are Retirement Investors in a bar in the top half. He mentioned writedown in the middle in the terms of housing. The people who are leaving money in the 401k accounts are the ones who really need to think about how they are investing their money and theres a group of those that are halves and groups that are havenots. And so those people are actually a divided nation. Gerri what needs to happen . We are talking half are above, half are below. So what do those folks need to do . You cant get to the press about the macro. The news is pretty bad. Home equity was wiped out, it went from 40 hours down to 30 hours or less in some lost their jobs completely. So we look at this and try to be optimistic and put things together so youre saving at least a little bit more and put something away, the other half dead midges talking about, the people that dont have much money right now cant pay their electric bill and car payment on time, they can still save as a discipline themselves. Ten or 20 a week away and do it to save. Gerri oneway that you could save more is work for a company that has a generous Retirement Plan. We have an incredible story about the companies are at the top of the list and the ones at the bottom of the list with terrific Retirement Plans. Conoco phillips and boston scientific, taken a look at back, the company matches and its pretty generous. Do you see lots of differences in your business depending on where someone works or spends most of their earning years . Yes, we see tremendous differences in those who have generous plans take advantage of matching funds and if you dont take advantage of those plans its just like money falling out of the sky for you. But also plans where they offer lowcost conducts funds, they can literally eat you alive and if you dont have lowcost funds, you end up losing two or 3 in fees. Its a lot easier to get figure out because the department of labor is making it mandatory that the plans disclose what the fees are. So for the first time investors can learn about these lower fees and its a big difference today. Covering the worst Retirement Plans, there are some Famous Companies own hair. Facebook is leading the pack. All foods, they say that they are really nice to their consumers. Always thinking about the little guy. Theyre on the worst Retirement Plan last. Is facebook catering to the people that work there and probably they are young and may not care about Retirement Plans. I find again and again that start up of Young Companies and facebook is a combination of those two, theyve never really devoted the proper attention that they are giving their employees a good Retirement Plan and i dont think facebook said with a we can come up with the worst Retirement Plan ever for employees and if you as an employee see that your employer has a plan, it costs you more than 1 , putting into your employer plan only up to the max and then setting up your own roth ira with an ultra lowcost providers are so you are getting the most efficient savings that you can for your retirement. Gerri the Tipping Point is 1 . These are over 1 . Well, for me it is half a percent and im trying to be generous because a lot of people are paying more than 1 . But i like for people to be in a plan that costs less than half a sputum initially the difference between a bad plan and what it can cost you over your lifetime if youre working for a company and it cost you too much, 870,000 nearly a Million Dollars a year losing to see his. So that is just not acceptable is that right . Weve talked about a concept that went away in the 70s. Depending on your employer fixing your retirement for you. I like the doityourself aspect, having those iras set up as individual retirement accounts. Because youll probably have for five or six jobs in your lifetime. And not a lot of job creation there. Gerri theres a lot of government led solutions. And we have a lot of Economic News coming up we have gdp and we have employment coming out in a lot of things going on. You think this will be a good news week or do you think the economy is teetering out . Are not going to like my answer, but unfortunately i dont have a lot of opinions about that and theres a good reason or that area even if i did, about half of the forecast and even the phd economists have are incorrect and i believe that. Gerri thats a really good point and we will leave it there. We will see how it unravels and we will see what the economy is doing and we wont take any bets from the economy. Thank you for coming on and its great to see all of you. Gerri if youre looking for more advice, the willis report money coach will help you. Visit my website at gerriwillis. Com and email me all your money problems. And still theres a lot more to come, including her voice that is important to us. That is why i want you to facebook me or leave me or send us an email at gerriwillis. Com. At the bottom of the hour i will read your tweets in emails. And find out why most of the u. S. Is having a cool summer. Plus, good news for smartphone owners and how washington can help you score more choices when it comes to your carrier. Stamps. Com is the best. I dont have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps. Com you can print real u. S. Postage foyourrs ckag youi ex print real u. S. Postage can you print only stamps . No. First class. Priority mail. Certified. International. And the mail man picks it up. I dont leave the shop anymore. [ male announcer ] get a 4 week trial plus 100 in extras including postage and a digital scale. Go to stamps. Com tv and never go to the post office again. Gerri good news for small phone owners. Congress has approved a cell phone users to unlock their device and use it on another providers network. Here we have our editor at large with us. Lance, explain this to me. First of all, unlocking your cell phone is in a league as it sounds. It means that consumers have choice. And you cant go over to another carrier at first because of lofton, but now you are able to switch if you want to switch. But dont forget that if you switch carriers come in to have to pay off that phone. Its the one that is expensive as well be my guess, those phones can be 700. But if it ported under another network you can take it over there. If you go to europe and you need to use one of the cheaper but compatible services. Gerri if you move across the country, lets face it, your service may no longer exist. The phones are still dead and you want to be able to make the switch and this is going 3 the phones are still dead and you want to be able to make the switch and this is going to allow you, lets say you want to hinder phone to your child, they can do it and it makes it easier. But keep in mind what is changing anyway. All of these carriers are stepping away from the idea and tmobile is constantly advertising and theres never any contacts. Of course you pay considerably more for that phone. Gerri okay, the landscape is really changing because the carriers got together and said, okay, we see the handwriting on the wall. And the white house got over 140 signatures and people requiring this. But its not a done deal yet. The president has not yet signed and so its not quite done yet. But we expect it to be. So where is all of this going. At the end of the day that we know that the providers, they had a financial incentive to keep you in the plan because if they pay for the phone. But it seems like theyre going to be looking for some other source of money. This is with a whats a little scary. If they think that they will be losing money because they have you locked in for two years, not just the cost of the phone with a Monthly Service fee, they might raise their fee look for other incentives and part of the name of this active complication is something that has the reverse effect occurred encourage some of these guys to lower some rate or create better deals. At this point i believe having the freedom. Gerri at the end of the day, freedom is important. Tablets and other wireless devices are important. The languages is part of this. I think they are covered, and makes sense. And its kind of the typical usage scenario. Gerri thank you for coming on the show smartphones and other technology in the update. Lucky charms may be magically delicious. But some are not leaving the store shelves anymore. Sales down. Number four is my best effort, despite my best efforts, fewer americans playing the game. Dicks Sporting Goods said sales were down 10 . And white bread, that is right, Time Magazine pointed to one survey that says more than half of americans say that they are cutting back on bread, especially white bread and even restaurants are getting rid of bread. And number two is gum. Sales have dipped due to competition and the number one thing americans are not buying anymore are convertibles. Businessweek says sales are down 44 and now we want to know what you think. Heres our question tonight. Have you stopped buying white bread . Vote on the righthand side of the screen and we will share the results at the end of tonight show. And at the bottom of the hour comes out latest projections for the future of Social Security and medicare. Plus, the coolest summer read the lowest temperatures we have seen in years as long as ive lived in iowa, theres always been wind. strauss blue danube playing gerri we may have a new storm to watch for for the next five days or it there first, cooler weather this summers happening trend. Joining us now, you are one of the few people who saw this coming. Can you tell us how you figured it out and will it continue . We had a very cool winter forecast. This year we had a garden of eden summer forecast. I think you are seeing a turn out that way. Of course even in the garden of eden there were a few bad apples. We have had some poetic activity and even though tornadoes are 15 of normal this year for the entire year, you do see the weather occasionally flare up in the big story is the lack of heat this year. And that is a very positive effect on much of the United States. Because you pay less in airconditioning and we heard her story about the corncob coming in and it is a very positive year as far as that is concerned. Gerri i was going to ask why and i think thats where you were going. We have a null neo year coming on. A lot of those people see the global temperature spiking so high. Instead its much like what we saw in 2002 and 2003 and most recently 2009 and 2010. If you remember, 2009 was a very cool summer and so its not exactly the same but similar and so we analyze this according to a flowchart and you can always do this or we are in a particularly good time for seeing the weather move along and we are seeing a cold and snowy winter on the way again. I hope you are going to say there was a snowy winter coming up, but you say theres a wildcard . Has come in the wildcard is Hurricane Season. Even though we believe and we said this back in april that it would be less than normal activity right on top of the United States coastline. And keep in mind in 1950, we had five major hurricanes of the east coast and it wasnt that the numbers were jacked up but that all the activity was in the western atlantic. But when you see what happening in climate, you can see the slow moving along in the Business Aspect of this upcoming winter, we are in trouble if we have a cold winter because i know people in the electric grid have a part of this. Gerri lets get back to weather. You say that theres a big storm coming in five days . We may have a Tropical Cyclone moving into the caribbean and then we will have to see whether it will toward the United States. We are getting into august. But we are looking at the kind of pattern that is conducive for storms as they get close to the u. S. Coast. The tricky thing is that this time of year they dont like to make it across the caribbean. And they dont tend to develop once theyre in the caribbean. So its a tricky situation. And its going to remain cool in the central part of the United States and that is the type of thing where you have to watch for that Hurricane Season to ramp up not just big numbers but bang for the buck. Thank you for having me stay on coming up next, how long will Social Security and medicare last . The new result of her work. Since many of us cameras to lie on uncle sam during our golden on uncle sam during our golden years, should we step in withra. The state . We will be right back is almost as exciting as the thrill of the find. announcer at scottrade, we share your passion for trading. Thats why we rebuilt scottrade elite from the ground up including a proprietary momentum indicator that makes researching sectors and Industries Even easier. Because at scottrade, our passion is to power yours. Gerri well, you know Social Security has long been called the third rail of politics. Touch it and you die. How much danger are we really in tonight we have the latest numbers from washington. Reporter we will talk about medicare. The annual trusties reports the both medicare and Social Security came up to date. My bedtime reading tonight. So exciting. Now, the reports of the trustees said that the Social Security trust fund will be exhausted and 2034. That is one year sooner than the projections in last years report. The Medicare Trust fund that pays for hospital care will be exhausted by 2030, four years later than last report projected a combination of factors. Disability insurance, big program as Social Security to a projected to be exhausted 2016 just two years from now because of sharply higher claims on the new long release on medicare, the trust Fund Projections are a volatile year to year. One recent report of years back predicted the Medicare Trust fund will be exhausted by years faster. Run trust the, dont be too excited about the new projections. I count myself among those who is cautiously optimistic that the recent slowdown in growth the per Capita Health spending will continue. Our latest projections still indicate that medicare spending will grow faster than workers earnings, retiree income or gdp in. Reporter all the trustees said that in the long term all of these programs are unsustainable and that they need to be reformed. Gerri here is the milliondollar question, how do we fix this . First disability insurance. Congress and the white house are working on legislation for a shortterm fix for that but it has to be fixed longer term. For Social Security and medicare higher taxes and lower benefits or a combination of both. Even if the trust funds are exhausted, that technically means they run through all assets which are mainly government bonds. There would still be payroll taxes coming in to keep the programs going. With automatic cuts to benefits 15 to 25 depending on the program. Dont worry. When you turn 65 in 35 years there will be something for you in Social Security and medicare. Gerri welcome my hopes up. Peter, thank you. Well, i think that saving for retirement is like slauson. We are all supposed to do it. Not everyone does. Some states want to have a hand in whether youre putting enough away for your golden years. Is this best left for the private sector . David certain from aarp. Welcome to the show. Still as of this work. Basically we are using states to help facilitate more savings by individuals. States working in partnership with employers to help get the almost 60 Million People who dont have access to a pension plan to contribute more to Retirement Savings program generally directing that money to an ira. It is statebystate facilitation and encouragement. Gerri Social Security, is this going to replace Social Security cannot add to Social Security . I would call this retirement security. Social security provides your basic foundation, but we want to encourage people to save more. And this is trying to get at those 16 million workers who currently are not saving for retirement through work and, quite frankly, the average Retirement Savings amount is less than 25,000. We are grossly under saved as a country. Gerri a lot of people believe we are woefully under saved, but it is still a debatable topic. Help me understand why we need another vehicle. We have the ira, the president s my ira program. There are a million different ways to save. Why do we need another . It is not so much creating another vehicle. Will we are trying to do is help encourage people to join those existing programs. We know that the best way to do that is to have payroll deduction at work. If you do it on a regular paycheck by paycheck, that is the best way for most people. We want to harness that power and gated to the existing vehicle and have the states work with the companys to basically make this happen and give more people are involved. Gerri the last part is the one i have questions about. We are going to leave Retirement Planning up to elected state officials . Is that a good idea . It will be a state decision. Employers will be setting plans up, sending this money to a private institution and have the option to save, but this is the way a facility five a way to facilitate savings and make sure we get as many people as possible. Gerri state governments would be making the decisions. No. To the states serve as an oversight function and facilitator. Setting of the plan and directing the money. Again, different states are looking at this differently. Basically the idea is to make sure that if you go to work as an employe you know that you will have a payroll deduction so they can have some money taken out of your paycheck them have been sent to an existing retirement vehicle. The states will facilitate that and provide oversight. It is great for the employer because it is simple and easy. Simple and easy for the employee because they have a deduction vehicle at work. Gerri they still have to check the box. They dont take advantage of what is already out there. Is there a match . Two things. You can actually set it up so that is essentially in airshow works in favor of the employee. In other words, you have to check the box to get out. It is still your choice. And and and. Gerri a lot of people think that is a good idea. Force people to make the right decisions. Its a great debate. Force people to be responsible for themselves. We have gotten a lot of success out of this and the private sector through Retirement Plans that have adopted automatic enrollment and the fault investments of getting people moving in the right direction. It is still their choice. Individuals can still make decisions, but it helps people. Gerri thank you for coming down and telling us about this. Appreciate it. Now we want to hear from you. Many products may soon go the way of the dodo bird. Have you stopped buying these products . Here is what some of you are treating me. One of your rights, i dont remember the last time i bought white bread. Tom agrees, i stopped eating white bread last lost 15 pounds. I love that. And sure enough Facebook Says the same thing. Julianne is sticking with what she likes. White bread is awesome. I did not say it was healthy. Here are some of your emails. The ongoing problem which we have covered extensively. The Veterans Affairs to permit should be privatized. Obamacare will be even worse when they force everyone into it. The list is endless. If not for the billions in tax dollars a waste nothing would even look like it is working. Thaddeus from indiana weighing in on the white house student loan forgiveness plan. A big now to Health Student loan debt. Larry from texas agrees, when the federal government pays Student Loans to bad things happen. One, colleges will continue raising costs, and to, students will have zero incentive to choose frugally. When we come back a warning before you drop a lot of money on that next bottle of wine. Trying to find the right doctor for you and your family is sometimes harder than finding mr. Right. Youre much needed advice. Here is your consumer gauge. We will be right back. She inspires you. No question about that. But your erectile dysfunction that could be a question of blood flow. Cialis tadalafil for daily use helps you be Ready Anytime the moments right. You can be more confident in your ability to be ready. And the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. Tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. Do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop in blood pressure. Do not drink alcohol in excess. Side effects may include headache, upset stomach, delayed backache or muscle ache. To avoid long term injury, get medical help right away for an erection lasting more than four hours. If you have any sudden decrease or loss in hearing or vision, or any allergic reactions like rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. Ask your doctor about cialis for daily use and a free 30tablet trial. Were changing the way we do business, with startup ny. Weve created tax free zones throughout the state. And startup ny companies will be investing hundreds of millions of dollars in jobs and infrastructure. Thanks to startup ny, businesses can operate tax free for 10 years. No property tax. No business tax. And no sales tax. Which means more growth for your business, and more jobs. Its not just business as usual. See how new york can help your business grow, at startup. Ny. Gov but they have to use special care in keeping the denture clean. Dentures are very different to real teeth. Theyre about 10 times softer and may have surface pores where bacteria can multiply. Polident is designed to clean dentures daily. Its unique microclean formula kills 99. 99 of odor causing bacteria and helps dissolve stains, cleaning in a better way than brushing with toothpaste. Thats why i recommend using polident. [ male announcer ] polident. Cleaner, fresher, brighter every day. Gerri finding a new doctor is a big headache. While many of us consider insurance and bedside manner, thats when it gets tricky. Here with advice, ceo and founder. Welcome to the shelf. Good to see you believe i wanted to start with a poll that came out today is. People say they choose a doctor based upon bedside manner which seems to me to be not enough. It is a very interesting question. Ideally we pick our doctors based on the outcomes. The problem is that health care is so specific. The sample size is so small. Its difficult to get enough observation. Gerri where would i get it anyway . Thats the real problem. You dont have access to the kind of material the government asked. Is true. And its difficult. Gerri who succeeded and who failed. Exactly. Even the definition, dining and living is a simplistic way. People dont necessarily even agree. Gerri im sure thats true. Gerri people say they look at this one thing, how do you treat me, are you nice to me. It seems to me you need to think about other things. The reason it is a board is in talks about the doctor patient relationship. Where it is important is if you like your doctor you are more likely to not eat those fatty foods warrant exercise the extra time so theres been a lot of correlation down comparing bedside manner to overall outcome. Its a pretty good proxy. Gerri a lot of people call it the call relatives, friends and family. That may not be the best answer either. Tommy what it does that maybe is available in the market. Theres a lot of interest in this market place, helping people find doctors. How are you different . Firstly, we enable people to book their appointments. You can sort from a broken appointment in instantly. What that enables us to do is have a closed loop system. Another you actually went to the doctor. It is not someone at the front desk or the doctors on competitor. Its actually a verified patient gerri this is a highly contested issue. Especially consumer websites for travel or eating out. Who is giving the review, where does it come from. People dont know. How do you guarantee that i am not reading a review . We know that the patient had said about the review in order to leave it. In doing so we have to verify the patient is an actual of human being. We have a bunch of techniques that were used said no it is an actual patient. Gerri lets talk more about finding a doctor on line. Online reviews was recovered, but you say a fair Rating System stars or doctors. He said the not just look at the ratings. You want people to read the reviews. Osmanli different types of doctors are great for different types of patients. We had one doctor who had a pretty terrible reviews. He was not friendly. We thought, this guy will never get another one and again. Low and behold, he got a lot of appointments. We started to read the reviews. We realized what they said was the doctor is not interested in asking, did was to be read a lot of people dont want to be talk to so different types of doctors for different people. Gerri the other point you make is be aware of all wires. It is true that different people have different tastes. What should i be looking for when i am looking for a doctor . Obviously we talked about that bedside manner says, accreditation. Well, honestly if youre going to a specific specialty you want someone who is board certified. One of the things we do is qualified to make sure doctors are board certified. Obviously you want to know they have a license in good standing. Some doctors may be on probation , still be able to illegally practiced medicine. Part of our qualification process. Gerri your screen . We absolutely do. Gerri interesting. Its a hard thing to do because there is no test that you can take. It doesnt work that way. Thank you for coming on the show. Gerri time now for a look at stories you are clicking on some nights. It is merger monday. Zealotry announcing it was buying family dollar. Expecting to close early next year. And realestate website zillow is buying its competitor in a three and a half billion dollar deal. The combined company will keep both brands. Shareholders still have to approve the deal. More bad news from the Housing Market. Thinning home sales slumped more than 1 percent and are down nearly seven and a half from a year ago. Sales have been slow. In stocks are starting the busy week of mostly us to the mostly higher. The market is on track for another positive month. Those are some of the hot stories right now on foxbusiness. Com. Still to come to my 2 cents more. Next, how did you do that. Plus, some advice for the wino wanna be. Stay with us. We never thought wed be farming wind out here. Its not just building jobs here, its helping our community. Siemens location here has just received a major order of wind turbines. It puts a huge smile on my face. Cause im like, this is what we do. the fact that iowa is leading the way in wind energy, im so proud, like, its just amazing. Gerri how do you know that that nice bottle of red is what you paid for . A wine funster convicted last december for selling millions of dollars of fine wine concocted in his home kitchen and passing it off as rare vintage. How can you avoid being a victim of wine fraud . With joining me, founder and ceo of wine awesome this. So thank you for coming in. Very good to see you. Lets start with counterfeiting. I did not know this was an issue you by wind all the time. Are you . The first issue if youre looking for it is from high end collectors a looking for very specific wine, lines that are tied to vintages that are 20, 30, 40, 50 years old. There are looking for very specific things, and its a very specific electric. In the first thing is the price point. Something is too good to be true, if you are spotting a 10,000 value bottled someone is trying to hawkins to you for cheaper it is probably too good to be true. Gerri in my mind i equate high price with a great bottle. I am that simplistic. Is that the right thing . A lot of studies, of research that goes into a blind tasting that consumers and very, very expensive tasters cant tell the difference between a 15 a bottle which is something you might find compared to something that is a high price to vintage from burgundy or borel. Gerri your website is open to the world. A variety of priced wines, not super expensive. Our site is for everyday consumers to impress someone at their house, a dinner party, a gift for a wedding. It is basically a cool way to learn about wind. Gerri you mentioned prices. We were talking about spotting a fake of their reuse said the deal is too good it could be fake. What about the label. The label is important. A lot of the stories we have been talking about, apparently a big deal is taking elmers glue to put on the bottle. The glue residue stays around the label. That is an easy thing. Once again those are really, really highand bottles that are rare. Gerri that sophisticated. That sophisticated. Gerri what about the geography . Release specific. Piedmont, northern italy, champagne, obviously these relief famous regions have brandon have been around for a long time and tend to be worth more money. Gerri to try to pass it off as something you would want. The very expensive burgundy. Burgundy, champagne. These regions that have been producing a wine for hundreds of years. A lot of investors and collectors are interested. Gerri and vintage, of course. How did these rosters tried to faq without using vintage . One thing people think wine is sold, it must be good. That is another misconception. Another big thing is anything after 1980, there will be more ways to detect if it is where it real or not. Anything past 1980 will be harder to authenticate. Gerri very interesting. Thank you for coming on. I love the name of your company. The right back. Have you stopped buying white bread . Stay with us. When folks think about what they get from alaska, they think salmon and energy. But the energy bp produces up here creates Something Else as well jobs all over america. Engineering and innovation jobs. Advanced Safety Systems technology. Shipping and manufacturing. Across the United States, bp supports more than a quarter million jobs. When we set up operation in one part of the country, people in other parts go to work. Thats not a coincidence. Its one more part of our commitment to america. Gerri we talked about good flight rad and other things that have gone up and costs. While gerri willis for online question. Finally tonight, good news for consumers. We have talked at the top of the show about Congress Finally allowing can race to unlock their cell phones and switch service providers. That is the good news. Now, that doesnt include a service for tablets. And after that, thats great news for people who want to change providers and the rare win for consumers. Thats my two cents more. Have a great night, Charles Payne is coming up on his show making money with Charles Payne charles tonight on making money with Charles Payne, is minimumwage really the same fight as the fight on civil rights . This wage fight is getting out of hand. We have more on pulling oneself up by the bootstraps. And the idea that expensive consumer goods is just as much damage to the notion that Young Americans never learn right from wrong. We are going to take on both sides of that coin. Also, this is due tweaks for
comparemela.com © 2020. All Rights Reserved.