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 y
How much a new report say consumers pay over their lifetime in fees to Financial Service companies, from bank fees to investment fees. When you look at them individually they may seem small, a fraction of a percent. But here and there, but those fees add up to new i popping number. For more on the number what you can do to pay less, ric edelman, ceo of edelman financial and also claire, who is the author of the book, frugal is not cheap. Get to what the fees are in just a second. First, 155,000, that is more than most people have saved for retirement. What do you make of that number . Yeah, it is shocking, gerri. I think one of those cases where youre dying by a thousand cuts. I dont think anybody notices to pay much attention. It is penny here, a dollar there, over a lifetime it is astonishing how much it adds up to. I dont think anyone has noticed. Gerri 760 bucks each and every year in fees. I turn to you now, when you look at these numbers, what do you make of them . I mean who is
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