Exit could cost pimco 400 billion. What about you . Should you follow the herd of Institutional Investors dumping we have the director of managing research from morningstar. We also have the manager jkk Capital Advisors and jack hough of barrons dotcom. My concern if youre something in the fund what kind of trouble will you get into . How will this rebound to individual investors, jack . I think new managers of the fund are quite good. Russ kinnels made one morningstar manager of the year. If theyre forced to sell at some point, that forced selling will hurt the bond market and everyone particularly in that fund. I looked how much cash gerri how, how . Hang on a second. I want to know how it will hurt the individual investors . I think, gerri, the problem is a fund manager wants to know they have a constant flow of cash coming into the fund. When theyre forced to liquidate and investor, you want to buy or sell on your terms, your timing, your decisions not when unexpected circumstances force you to do it. That is the last thing you want to do be forced to dump a lot of bonds on the market that knows you need to dump those bonds. The bond market may be liquid but it is not stupid. You want to be with a manager waiting for bargains to pick up stuff at cheaper price. Gerri russ, to you. What kind of difference does this make . Does this put pimco behind the eight ball. Too theyre certainly under the gun. Negative a years worth of controversy and redemptions are accelerating. The bond is very liquid. The fund has a lot of liquid positions. I dont necessarily think this means gloom and doom but theyre under the gun. Gerri we have a problem pimco managing its fund, doesnt put them in the drivers seat but as individual Investor Holding shares in pimcos fund, what happens to me . Well, you know, really the funds are still priced on the underlying securities. So it is not going to have a big impact initially, unless we have massive, massive redemptions, and 10 billion out of 210 billion is not that much actually. Unless we have that much, then it will not have that big of an impact. Longer term, obviously we have new regime, new younger managers taking over to guide the fund. But it doesnt mean you need to make a decision tomorrow. Gerri well get to that. You have time to evaluate it. The fund has been experiencing 16 months ofout flows out of the fund. It is pimcos job to do two things. Physicians creed, which is do no harm. In other words prepare that portfolio for these redemptions. That is the first thing they need to do, make certain theyre prepared for it. The second thing, work on investor confidence. Explain to the investors why they should gerri they were out doing that today. I have to tell you, frank, they were all over the place talking to Morgan Stanley who has been dissing them in the media. Were here to stay. Well be around. You about the point is, when you spend your decade building around the name bill gross, that is why you have your money with us, now that you have to change the narrative, how do you do isnt. Gerri imless concerned about pimcos management problems but more concerned as individual investor, jack otter, what i find and what will happen to me. Biggest problem with Bond Investors weve had 30 years after bond bull market. Everyone said it is endings, it is ending. Im not sure it has ended yet but it will not go forever. Gerri doesnt this put pressure on people to find the right manager and things could change any moment . You know me coming on here advocatings index funds. I think there is a place for active management in bond funds but i cant tell you who is the right guy. Bill gross, dan luck. Spread your bets. Have some of those guys managing a portion of your retirement portfolio. Put a little bit in the index and cross your fingers. I want to get back to russ for a he can. Russ, you have told everybody, morningstar is telling everyone youre removing ratings. Will reconsider ratings on the pimco fund. What will you be considering . Seems to me you will probably consider the things i should know as an individual investor. Thats right. Were looking at the quality of the new managers. They have got some very good managers. Understanding how is that team going to Work Together . Will they hit the ground running on day one or will it take some time. We want to understand flows, liquidity situation. Seems like a very liquid fund. We want to understand that. And we all want to understand how everything is going to fit together at the new pimco, how theyre going to work things out. Also understand what is going to take some time for the dust to settle before well really see where theyre going. So there is some things we can figure out now. There are some things later. Really there is a lot of moving pieces. How long will it take you to get the new ratings out . Were hard at work on that. So i hope it is not too long but we want to make sure weve got all of the important facts in front of us before we make that rating. Gerri right. And then from then on well wait until the dust settles and see three months, six months from now, how do things look. Gerri i think people want answers right now. I was looking at janus for example. Look at the fees that will be charged on this bill gross fund, frank . Out of control. There is a sales charge on the ashares, 4. 57 . C shares will have backend load of 1 . All of the fees higher than pimcos. Is it worth buying into that fund. A home run for janus, lets face it. Gerri what about the individual investor . That is who i care about . Individual investor, it is not bill gross or pimco. We have many options. That is the beauty of being individual investor. A lot of money managers, bond managers reported inflows already with more money coming in. There is a field that out there. Not one or the other. Gerri who are big winners . Big winners are all the fixed income managers across wall street. Those are the big winners in this whole thing. As far as individual investors go, they need to ask them because it was bill gross and is that good for those high fees . That is question that you have to gerri i think janus will be charging high fees. I would say till will be interesting to watch he will swing for the fences. He wants to go out good. He wants to do really well. He can move the needle with a 10 billion fund. Gerri he will be agile, fleet of foot. Easy for him to show some kind of gains. If you want to pay for it. That is the big problem. That is why they brought him on to bring in money. Some money will follow bill gross, regardless of the fee. That is why he is there. Gerri russ, tell me. You said good things. Morningstar had good things to say about the new management of the pimco fund. Are you still satisfied with those folks . One of them was a 2012 bond fund manager of the year the do you have a lot of confidence they can really run this thing and go great guns . Well, we have a lot of confidence that these are very good managers. But, they are in a new situation. Talk about going into a hot seat . Taking over the Biggest Bond Fund in the world at a moment when Everyone Wants to redeem at such a shocking moment it is a challenge for them. Theyre very good and worth understanding a fund like this is couple of managers. There are traders, analysts, a lot of specialists contributing. That is one thing gross wont have at janus. He is starting from scratch and building a new team, and so, i think it is worth understanding that youve got hundreds of investment professionals at pimco contributing versus bill gross starting off on his own. Other folks have pointed out, there are many other bond shops you can choose from as well. Gerri it is a fascinating quandary for individual investors. Well leave you out of this question, russ, because i know youre concerned with getting new ratings out but frank and jack, i want to ask you this question, buy, sell, or hold, pimco total return bond fund. I think investors should reconsider positions in light of bill gross leaving pimco. Gerri you say reconsider but what exactly do i do . Do you have me watch their performance over time . Six months benchmarked against others in the industry. Pimco is not going away. This is not liquidating hedge fund where they liquidate the portfolio. Pimco is not going away. Performance has been mediocre anyway. Middle of the pack. Allstar days of bill gross are long gone. You have performance in the middle of the pack. Investors need to say do i want to be involved with all these headlines with mediocre performance and i can go anywhere else get same thing throwing a dart at bond fund listed. Gerri i like that. Jack . I say hold. I know its a wimp out. I like new Management Team very much. On the other hand redemptions scare me. It is so big, even with the redemptions, it is such a huge fund it is tough to move the needle. If they take a 1 , that is huge. If they outperform 20 basis points, how much does that help you the individual investor . I have to tell you very, very little. Gerri hard to make big fund. Magellan. Gerri people dont have to move as everybody said on the panel with lightning quickness because it is not a stock. Its a mutual fund. Thanks to all here, russ, frank and jack, pardon me for forgetting your name for a split second. Thanks for coming on. Really good conversation. Great to be here, gerri. Gerri we always cover shenanigans on wall street, right . We like to let you know when bad guys get caught. Two former wells fargo employees charged with Insider Trading. According to sec a Research Analyst at the firm wrote market moving upgrades and downgrade of stocks tipped off one of the traders before his reports came public. They come one week after wells fargo paid a 5 million fine for Insider Trading by another one of its stockbrokers. Still a lot more to come at this hour. Including your voice. Your voice is important to us. During the show facebook me or tweet me gerriwillisfbn. Send me an email by going to our website gerriwillis. Com. At the bottom of the hour i will read your tweets and emails. Massive blow to the head. Look at this, left michigans quarterback dazed and confused. Why, why did he continue to play the rest of the game . Well have a conversation about that. Join us after the break. You pay your Auto Insurance premium every month on the dot. Youre like the poster child for paying on time. And then one day you tap the bumper of a station wagon. No big deal. Until your Insurance Company jacks up your rates. You freak out. What good is having insurance if you get punished for using it . Hey insurance companies, news flash. Nobodys perfect. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. See Car Insurance in a whole new light. Liberty mutual insurance. Gerri university of michigan head coach brady hoak under fire for keeping his quarterback in the game after a violent tackle here. Even espn commentators said it looks like a concussive hit. Aaron cochran. He can barely stand up right now. They have got to get him out of the ball game into totally with you. He has got to come out. Wow. Coach hoke in a press conference defended his decision, that doctors cleared morris to keep playing. A nfl agent and associates, gene lee. We formally dont cover sports, every once in a while you have to dip n weve been talking a lot about concussions. Little kids play football too, all levels people play this game, getting hurt. How is it the young man was not taken out of the fame because he took a incredible hit. You chef been taken out of the game, first and foremost. The issue with a lot of these concussions the symptoms are latent sometimes. Hard to see player exhibit. Gerri not here. It was visible here. That was the difference. He should have been taken out of the game. Gerri looked like he was wandering. Had his hand on his head. He really looked like he was in pain and even confused. You could see it and commentators made just those nets. The bigger key here, that brady hoke allowed him to reenter the game after he had taken him out. That is the reason for the public outcry. Gerri what responsibility does he have. The nfl the response would have been different, right . The nfl postconcussion protocols are very defined. If this happened in the nfl, the university of michigan and brady hoak would be fine and suspension. Gerri fine and suspension. This is what hoke had to say. The player was evaluated by our experienced athletic trainers and Team Physicians and were confident proper medical decisions were made. The university of michigan has a distinguished group of certified athletic trainers and Team Physicians who are responsible for determining whether or not a player physically able to play. Our coaches have no influence or authority to make determinations if or when an injured player returns to competition. It sound convincing. Is it convincing to a trained ear like yours. No. As a player advocate, your clients longterm wealth and wellbeing is long term concern beyond dollars and cents. Should be primary concern for the head coach as well. Gerri these are people on college team. Theyre not getting paid directly. Maybe some people would make the argument, money isnt involved. Is that true. That is true. He had said that drew morris wanted to stay in the game. He wanted to remain in the game as competitor. Gerri right. Decision should not be up to the player. It should be up to the head coach. I was at uconnbuffalo game. I saw a player for uconn defense, visably had his bell rung. Teams medical personnel examined him. Determined he should knot go back into the game. Someone took his helmet to prevent him from going back into the game. Gerri they forced him to stay on the sideline. Someone should have taken drew morriss helmet. Gerri this team was losing in a big way when all of this happened. It is not like you were, in the throes of almost beating, no. They were way behind. Like 37 or something. It was 307 with 11 mens in the game. There was no reason for brady hoke to risk long term injury for this player when the game was out of reach. Gerri what would you tell this player if he were your client . Make the right decision. Make sure his best interests are covered. His safety is first and foremost beyond any wins he can achieve for the program. Gerri sound like a good way to go about it. Eugene, good to see you. Thank you. Gerri we want to know what you think. Here is our question tonight. Are coaches putting college kids at unnecessary risks on the field . Log on to gerriwillis. Com. Vote on righthand side of the screen. I will share the results at the end of tonights show. Later in the show, why have markets been so volatile late ily . We help you find somebody to help you navigate that. We have advice finding a good financial advisevisor. Stay with us. Mr. Daniels. Mr. Daniels. Look at this. Whats this . Clicks are off the charts. Yeah. Yes, sir more shipping more shipping [ beeping ] [ beeping ] hello. You can go ahead and have a nice flight. Re. Music plays music plays traveling can feel like one big mystery. Youre never quite sure what is coming your way. But when youve got an entire company who knows that the fewest cancellations and the most ontime flights are nothing if we cant get your things there, too. Its no wonder more People Choose delta than any other airline. Gerri hiring an advisor to manage your Retirement Savings could be like a financial strip search. You share all of your Financial Secrets and you pray that the advisor is up to the task. Fortunately, if you find a good visor the trouble can be worth the effort. How do you find that perfect fit . Ed butowsky, wealth manager, financial visor and managing partner at chatwood investments. Ed, great to see you. A lot of people want to hire a financial visor. They dont know how to get started. What are steps number one to get the perfect person . I mean the perfect person, first of all they must ask one question right off the bat, if youre sitting down with a financial visor or planner and they dont ask you, how much money do you need to make . If a lot of times people will show up and start telling you need this mutual fund and this stock and that bond and they never asked you at any point in time what do you need to make and how much downside can you handle in a 12month period . If they dont ask you that question, walk away. Gerri ed, another complicating factor, there are all kind of different sorts of people you can hire. Hire an oldfashioned broker. Thats right. Gerri hire a certified financial planner. It is alphabet soup of people with different kind of training. What make sense for the average investor . One thing i would not do, i will get a lot of emails, i would stay away from people who sell Insurance Products because theyre out there selling a product. There is not a lot of Financial Planning behind them. I like financial planners. I speak at a lot of Financial Planning conferences. I learn a lot from those people. I think theyre excellent. Try to focus on a lot of big investment firms. They have a lot of Great Software that helps you understand what you have, what you think youre growing to have down the road in terms of continuing, continuing to invest your money and i like them. Gerri big first, dont the big firms, specialize in telling their guys how to sell product . Isnt isnt that what theyre all about . They eventually get there, gerri, that absolutely true. At the same time they have good software. Some big firms invested a lot of money. Its a good place to start. You will have different product salespeople in there. Be careful of that. But they have got good software. If youre looking i would look there along with financial planners. Gerri im hoping i dont use the software. Im hoping they use the software to give me good recommendations to invest in. Yeah. Gerri one of the questions i have, how much am i willing to play . I know how to pay for mutual fund, advisor for his or her services. What should i have to pay . A great point and great question, people who do what i do for a living, our income on assets have dropped 70 in the last 10 years and it is going lower. So i would not let anybody charge more than 50 basis points, a half of 1 on the money they manage and dont ever let them charge a money market or on bonds or on concentrated stock positions that you own. They should never get paid on that. If you have an visor who wont explicitly what they will charge on, that is pink flag that should be a red flag to you. Gerri half of 1 . One of the interesting numbers that found in researching this today, 52 of preretirees, 44 of retirees, have a financial planner. And i would have thought both of those numbers would have been higher and, the proportion of retirees with professional advice would be higher. What is going on there . Yeah. Well, i think people have access to information, has given people the understanding going through the internet they might be able to do it on their own. Quite frankly after really getting to know a lot of people in my industry, a lot of these people do know a lot more than advisors do. I dont have a problem with people doing it on their own, gerri. Here is the really important point. They underestimate what their cost of living increase is. So theyre doing their planning at a 2 or 3 increase in what they need to make yearoveryear. They got to check it. More like 7 or 8 . If they dont factor in how much more it is going to cost them the next year, they will run into problems in later years in life. People need to overestimate the cost of living increase. Gerri no doubt. Im not going to be able to calculate everything. It is tough. You can do it. You can find the right software and do it. Thats right. Gerri i have to ask you, what is that Financial Advisor going to bring to the table that i cant myself do by just educating myself . Well, a lot of it you can do by educating yourself and people in my business need to do better job making themselves more valuable and know what theyre doing much more. Most people in my business, barriers to entry, some cases they have to fog a mirror and pass a test. They have to do more than that. We have to step the up in our industry to do better job for our people. I think our industry is not doing a good job. People are not retiring with enough money. We need to step it up a lot more. Gerri thank you, ed. I agree with you. More could be done. Everybody sits around and feel guilty how much they havent saved. We could get better advice. Ed, thank you. We do. Absolutely. Gerri, thanks for having me. Gerri now the latest developments on that fallout surrounding a massive gm recall. At least 23 people have died and 16 folks were injured seriously in crashes involving defective ignition switches. According to the head of the compensation fund, ken feinberg, he says he received 153 death claims since august 1st. Of those he deemed 23 eligible so far. That is up from 21 last week. Claims are being accepted through december 31st. Well continue to update you on that story. Coming up next, the faa is warning it could take weeks, weeks for things to get back to normal after fridays chicago sabotage. Well have a live report on that. Massive protest underway in hong kong, roiling international markets. How will wall street reacting . Were looking out for you and your money next. vo rush hour around here starts at 6 30 a. M. On the nose. But for me, it starts with the opening bell. And the rush i get, lasts way more than an hour. announcer at scottrade, we share your passion for trading. Thats why weve built powerful technology to alert you to your next opportunity. Because at scottrade, our passion is to power yours. How much money do you think youll need when you retire . Then we gave each person a ribbon to show how many years that amount might last. I was trying to, like, pull it a little further. [ woman ] got me to 70 years old. Im going have to rethink this thing. Its hard to imagin how much well need for a retirement that could last 3years or mor so maybe we need to approach things dferently, if we want to be ready for a longer retirement. Well, were always looking out for your wallet here. Were also looking for your travel dollars. With the federal Aviation Administration responding to Traffic Control sabotage from last week. An employee started a friday in an attempt to commit suicide. Fa said it will take about two weeks to get everything up and running. Jeff. Giving you a unique perspective at this hour. You see flights coming in at about 60 maybe 70 percent of capability. That is an american just touching down, i think, unless my eyes deceive me out there. And, you know, things are heading back to normal, but nowhere near there. I think its a united flight now that i look at it. Take a look at the numbers when you see ohare compared to other airports. That compares to reagan with eight. Pittsburgh just a handful. Its still nowhere near back to normal. Just to give you a perspective on this whole thing. You talk about the Aurora Center being shut down. One of those old control towers handles flights on the ground. Its the auer handling the high flying flights. That one is a mess. Water damage, smoke damage. Gerri, i should say brian howard the fellow who was responsible for this or at least is believed to be responsible for this appeared in court within the last couple of hours saying sorry. His attorney saying he was facing personal demons. The question is, is this something that could happen again perhaps a problem with a terrorist . The fa administrator speaking today said that they are now going to review all of their procedures at air Traffic Control procedures around the country. Michael saying, believe me were using existing tools to maximize operations and developing new tools to return to normal services. But as you reported at the outset probably two weeks according to the fa administrator before the aurora tower can handle traffic again. Until then, these flights landing here being handled by centers in into a place, mississippi and other locations kind of taking the load while this one is down. Gerri. We always rely on you to give us a great perspective. Youre always set up in a great place. Thanks for being with us. Appreciate that. Thanks, gerri. Thank you. Incredible footage. Did you see this . Coming out of hong kong. Pro democracy, and auto tear gas in one of chinas biggest political challenges in 25 years. The growing unrest injecting fear into todays markets. The dow jones dropping. Recovering your assets with liz miller. Liz, big sell off. And my question for you why do the markets care so much about hong kong . Well, i think the markets care to a certain extent about hong kong because china is so critical to all global trade. But if we look over the past year, look at how the market shrugged off ukraine shrugged off so many things in the middle east. Here are the student protesters. I think the other thing are that investors are ripe for any type of fear. You think its more about an underlying worry fear. Theyre going to change their attitude with any news headlines. I think investors are feeling that way. We might get another new high in the market, and investors are a little bit cautious about that all that profit. This is the second week weve seen big changes in the dow. You say investors are fearful, worried. Is that going to be the tone this fall . I think we could see more volatility. Again, if you look at the broad averages, the dow and the s p they have seemed so flat, but actually underneath those big averages youve had a lot of internal volatility. Dow down 10 percent. But it gets lost in the inteeses when we see the ten name if you pull out the great big names in the nasdaq, its a disaster scene. But there is some good news in the marketplaces. We know that Consumer Spending for august was up. Personal income was up. It should be the thing that the market is reacting on. I agree. We see these markets following the economy. We got that consumer news today, and you look at the other news weve had over the last month or so. Weve seen good manufacturing numbers, good investment numbers, all signs of Economic Cycle that is getting a little later, but still very healthy. And, liz, quickly youre a Financial Advisor, what are you telling your clients. Stick dot allocations, but review where the value is. Theres nothing wrong with taking a little bit of profit in some of these individual stocks that have done well and reallocating to some interesting areas that we see. And when we come back a look at how the recession has changed the way we stop forever. Its getting more and more expensive to get your own money. As a new report shows shocking atm fees. What you need to know to save some cash. Take a look at the numbers that are important to you. Here at the willis report were always on the look out for scams, and wed like to tell you about any new ways to avoid them. Aarp alerting us to a new interactive now, you can get to the map through aarp. Org and search for their fraud network. The map includes the latest fraud alert from the latest attorney generals and scams like you and me. So, for instance, if you click on texas, a little box pops up which lets you see all the latest scams going around. See that. When you click on Law Enforcement alerts and latest news, it shows you 30 known scams going on right now. Theres everything from the latest facebook scam to crooks contacting people pretending to be the irs. You can click on scams spotted by people. You can see what folks in your area are seeing. And hopefully give you a off. Sup before you get ripped s thethi wa. Er seus, b al teteimg to thiss oorc he rar wl te y wtg o youeighrh alome n foron out ther theost o ung a am. Its just got pricier. According to from a report from bank rate these jumped 5 percent. 5 percent. Here is chief financial analyst greg. Greg, welcome back. This number frankly blew me away. Ay. Ould not believe re o using elses atm. And theyre going to make you pay for it. Youre not talking about one fee, but two. Your bank will charge you for going outside the network and what weve found from the survey every atm so youve got two fees, your bank and the atm owner. I think most people dont realize its doubling up. Its so annoying to have your own bank charge you too. Lets talk about what this looks like when you go across the country. For example, in feengs phoenix you may pay 496. Lets look at the average atm fees. Denver, houston, they have the highest fees. A lot is just the the message to consumers there, not everybody charges the same price and if youre in a place where the fees are on the higher end, its all more incentive for you to shop around. Make sure youre getting the best deal you can. Well show you the lowest average atm fees. Cincinnati leading the pack. La. And you say its about the mix of banks. You also had some news about overdraft fees. What is the average and how much is it up . The average 32 and 70 cents about the same pace of inflation. Its up for the 16th consecutive year. Year in, year out we see these fees going up. Just like with the atm fees, the reason we see these fees so consistent, theyre the low hanging fruit. I think as a consumer, you have to take, aim for zero. Aim for zero. So overdraft fees, how do i opt out of that . You can opt off overdrafts by an atm and debit cards, it doesnt relieve you the obligation of monitoring your accounts. If your balance is so low that atm transaction will overdrawn that check you wrote yesterday will not clear. Thats true. So keep tabs on your available accountant balance. Its so easy. You can do it on your phone. So do that 24 7 access make sure you know whats in there. You can sign up for email, text alerts. It doesnt is have to be that hard, right, greg. No it doesnt. Its great to have you. Now, we want to hear from you many across the country calling for michigan coach hoke they want him fired after keeping his quarterback in the game following a hit to the head. Are coaches putting kids in uneconomies risk on the field . One viewer writes coaches in general know, but there are incompetent folks starting a fight there. On facebook, randy posts, these are not kids, theyre grown men that made their own choices. They should have taken him out of the game. No game is worth the life of the player. Unbelievable story. The recession may be over, but the impact on consumers continues. Have spending habits maybe changed forever . Well explain after the break. Americans are ready to spend. Seven years of keeping their wallets tightly closed and consumers are opening them once again. A Consumer Report survey found seven out of ten people say they finally feel flush enough to make purchases and decisions theyve been putting off for five years. The recession has turned Consumer Spending habits on their heads. The Senior Editor of Consumer Reports. How is this changing permanently consumer habits. Just as the recession profoundly the generous in the 1930s so too has the prolonged recession that happened till nine will have profound ramifications that will ripple today. It turned the american he spender to the american scrimper. For many years, people put off life decisions, marriages, divorces, having children, home improvements, buying homes, buying cars, because they did not feel flush enough, but now theyre beginning to open up those wallets. Weve changed profoundly insofar as were not the spendthrifts we once were. Were very cautious, were very worried. People dont that have that stability. Stability that their jobs will be here next year and that their earnings will keep up with inflation and be able to pay their bills. Theyre also concerned of advancement. Theyre not as optimistic that the future looks all that rosy. Again, were smart ear, were beginning to open up our wallets once again. Its fascinating the results of these surveys. The things they were spending, groceries, personal services, if youre spending more on it it might be because it just costs more. Thats certainly true, but we asked peoples attitudes and behaviors in light of the recession. If you got a tax return last year, what did you do with that money . A refund. Im sorry. Not a return. If you got a tax refund last year or if you won a mythical lottery, what would you do with that money . The majority of people were very conservative. You might say, well buy a luxury car, go on vacation. Most people said they would use that money or they did use their money from their refund to buy food, groceries, pay off debt, pay their energy bills to fix up their homes. Very pragmatically oriented. So the things they will spend money this year, electronics, a home remodel, now, thats an interesting list right there. And i think the cars on the road right now are the oldest theyve he ever been in this country. People have been driving these cars a long time. True. Cars are older, and its going to get older for at least another year. But . 2007 the average is 90. 9 years. Now, its 11. 4. So part of the upgrade has to do, hey, weve put it off so long, we got to get something new. People are feeling more positive, though. With homes, not just are people buying homes, but sellers people who want to put their homes on the market have an optimistic outlook of their homes doing well. In other words, theyre more optimistic about sales than they have been in eight years. I thought its entertaining what people wont cut back on now. Premium streaming tv. Manicures, pedicures. I thought that was luxury stuff. 38 percent of people said they wont give up their tv channels. Im not cutting back on my cigarettes or my starbucks. But fewer people are also holding garage sells. Fewer people refuse to take a second job. Maybe things are getting better. We do draw the line somewhere. I have to ask you how people are being frugal. A couple of things, stay indications, bringing your lunch to work, waiting longer to get a hair cut. These are kind of common sense everyday things we can do to save a few bucks here and there. More people are doing that. Maybe thats a good thing. Thank you, todd. My pleasure. Well be right back. And the answer of the day, are coaches putting kids at unnecessary risk on the Playing Field . Michigan coach brady hoke is taking heat not only for another defeat, but for his handling of quarterback shane morris. Are coaches putting kids at unnecessary risk on the field . We asked the question. 43 percent of you said yes, 57 percent of you said no. Go to gerri willis. We love hearing from you. Los angeles marijuana growing operation. Was busted after the police saw everything on youtube. An area filled with Marijuana Plants and theres a discussion of growing conditions. Police said they counted 67 plants at the home of jason and stephanie pelletier. The couple will be charged with intent to sell. I cannot leave the bill gross story alone. Chances are his i can sayit from pimco, but this is one story you would be wise to Pay Attention to. The plane vanilla. Its everywhere. More than half of the nations four owe 1ks offer this fund. Should you follow the herd of investors dumping shares today . Heres what i think. You dont have to do anything. You dont lose value because investors are selling. The cautious strategy is to sit back and watch for six months and make sure the Fund Performs as well as rivaled. If youre not the cautious sort, you might consider flipping it to a bond index funds. The good news, these are low. The bad news the federal reserve, if they decide to raise rates, youll suffer too. If any of the funds you invested in last year recorded a positive return, you might consider putting your new investment dollars into that fund. Youll want to find a place youre comfortable with because the next few years could provide some serious changes to the bond world. Thats my 2 cents more. And coming up tomorrow ill be sitting down with the craig boundy. What can consumers do to protect themselves . Ill ask of him how consumers can use big data to their advantage. Thats it for willis report. Thanks for joining us. Dont forget to dvr the show if you cant watch it live. Making money with Charles Payne is coming right up, i promise some big news story moving the market. Protests that began sunday continue to explode causing chaos in hong kong sending our market you much lower at the market. And the nation is still first fox news henry from the white house with the latest on isis. Charles it was only yesterday on that the president appeared to be flowing eric clapper under the bus saying that he had underestimated the threat from isis, that they in the Intelligence Community had not seen it coming. Today you saw josh earnest try to put the breaks on that bust they s t