the time to talk to families about the future. fox business network s gerri willis joins us. you have a great piece on foxnews.com everyone should read. the title is a good one, just how terrified people are saving for nair nest eggs. the question is, should they be terrified? fidelity says you need $245,000 in retirement to pay for health care doing it on your own and not defaulting to medicaid. that is a big number. folks are really frightened. you mention ad big number. 63% of the folks are terrified what paying for health care and retirement will do to their retirement nest egg. that it will bankrupt them. two or three people say they would rather die than go into nursing home. they want to go of a their own solutions as they get older. they need to save money. they re not talking to each other. more than half, 52% saying they re not talking to family. they re not talking to spouses about their worries over this. abby: these are not easiest conversations to have. they are importa
because your son wrote us a letter. my parents gave everything to give to us so that we would have a leg up in this world and have never asked for something in return. they are both now 64 and 65 years old without a retirement nest egg to rely on. it sounds like you guys, your whole life, your married life and business life flown by the seat of your pants. true. it s true. of course. is that how you see it? absolutely. you are making a nice living. something happened tomorrow, right, you don t have anything put away yet. yeah. i think it s time to think about that. planning for the future has never been joe and mary s style. but with retirement on the horizon, they now suddenly need a strategy. and we came in to give them one. on behalf of your children then, i am excited to get this team in here. i know you have been talking to them, and have them tell what you they thought through for your business so that at some point you guys can retire. oh, my god. now it s time t
megyn: fox news alert, if you think your 401(k) is sitting safe and sound from the tax man, think again. congress may be looking to cut $1 trillion in $16 trillion in red ink by taking a bite out of your retirement nest egg. welcome, everyone, i m megyn kelly. while we have not heard much talk of spending cuts as of late, reports out of washington today suggest congress is apparently taking a look not only at taxing 401(k) plans, but taking a look at other popular tax breaks as well. also said to be on the potential chopping block, mortgage interest deductions on second homes and benefits you receive from your employer-provided health insurance. chris stirewalt is our fox news digital politics editor and host
different spending measures, we are trying to work with you. each side is playing a game of chicken here. heather: we ll see what happens. gregg: relying on your home as a chunk of your retirement nest egg. can you plan on keeping the value is you up. how the foreclosure crisis is affecting homeowners is affecting people across the country even those that are in pretty good financial shape.
phrase the bank will come and take their home so home eke witty equitty loans are resource loan hold on, you had your say. in the process and rejiggering the contract the bank could come take the home. david: that s the way it is. new report showing how little americans are saving for retirement. the startling number, the stocks that could goose your retirement nest egg coming next. affect wheat output in the u.s., the shipping industry in norway, and the rubber industry in south america? at t. rowe price, we understand the connections of a complex global economy. it s just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment objectives, risks, fees, expenses, and other information to read and consider carefully before investing. [ man ] if it was simply about money, every bank loan would be a guarantee of success.