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 charging them . Seems to me we should be in the business of figuring out how to pay less. I believe we can. 155,000 is a lot. Not all fees are bad. That sound strange. There are at love fees we paid for because we decided it is worth it to us. Gerri what fees do you advocate, claire . Problem happens, for example, you pay a fee for to ticketmaster, if you want the tickets delivered electronically. But youre making a conscious decision about that purchase. The problem is these fees are happening and people arent paying attention so they gerri that is absolutely true. Not making conscious decisions on their money. Gerri lets focus though if we can on financial fees, bank fees, fees charged by your 401 k . I said total you pay over lifetime is more than most people saved for retirement, ric. What can folks do to reduce cost of retirement savings, manage retirement saveings . The good news, gerri, it is easy to fix this the world of mutual fund has changed dramatically over the last decade or some now you have index fund that are dirt cheap. You have Exchange Traded fund, equally inexpensive. The average Retail Mutual Fund costs 1. 3 per year. But the typical Exchange Traded fund is not 1. 3. It is 0. 3. You can save massive amounts of money. The department of labor says by cutting your costs from 1. 3 to 0. 3, increases your retirement balance by 28 . You can create hundreds of thousands of dollars shifting to index fund and etfs. You get the same results at a dramatically lower cost. Gerri dramatically lower cost. Rick, we had guests on the show that people waste 70,000 paying fees for retirement fund, 401 k fund they dont have to. Obviously there is a lot of money to be saved there. Right. Gerri claire, to you, i want to turn to credit cards. You made point at top people pay fees they dont have to. Imagine debt on credit card of 5,000 bucks and making minimum Monthly Payment of 200. Average Interest Rate is 16. 5 . The total in interest you would pay over the term of paying off that debt would be half of what you owe, and Repayment Period is 10 years. That is just astonishing. What should people be doing with their Credit Card Debt . What i say in my book, people need to remember these three words. Everything is negotiatable. So, you need to be doing your research. What are the fees for Comparable Services . Do your homework. Shop around. Dont be afraid to be assert tiff and go back to companies you want to do business with and ask for reductions or elimination of fees. You can ask for reduction of fees. Ask for reduction in Interest Rate youre paying. At end of the day, faster you pay less you will pay. I know that is true. Rick, i want to go back to what you were saying about 401 k s. We have a grateful screen and i want to share. If youre paying half a percent on fees on 401 k , 35 years that is 227,000. If you pay 1. 5 , it is 163 thiazole. So, big differences depending what you should pay. What is right amount of fees to pay on 401 k . In investments, in your 401 k and other savings accounts, and such, you shouldnt be paying more than onehalf of 1 . For many of your investments, you should be paying dramatically less,. 2 or point. 3 . It is not expensive to manage money these days. Buying Exchange Traded fund doesnt cost what it used to cost. Thanks to technology and computers. It is really inexpensive. You should not pay exorbitant expenses is. Dealing with a stockbroker or Insurance Agent or advisor banker, they get you high expensive investments and how they get compensated. Shop around, talk to advisors who offer you very low inexpensive alternatives. Gerri like i said at the top of this interview. Fees are high. You can pay virtually anything for services. Up to you to make sure you get the best deal. Rick and claire, thank you for being with us tonight. Really appreciate your time. Now we want to know what you think. Here is our question tonight. Do you pay too much in financial fees . Log on to gerriwillis. Com. Vote on righthand side of the screen. I will share results at end of tonights show. From your Financial Health to your physical health, we are turning now to a serious medical mystery that is affecting hundreds, if not thousands of children throughout the midwest. A rare respiratory virus starts out similar to a cold but it could turn deadly. With me now, dr. Mary jane jackson. She is director for Infectious Diseases at childrens Mercy Hospital in kansas city, missouri, which reported nearly 500, 500 suspected cases of this virus. Doctor, welcome, great to have you here. Youve said that you have practiced 30 years in pediatrics and you have never seen anything like this. Describe this virus to us . So this virus had its onset probably midaugust and we were seeing children with unusually severe respiratory track infections that resulted in unusually severe asthma attacks, placing children in the hospital and children into your Critical Care unit. Okay. So, super serious. Youve had hundreds of kids right there in missouri. My understanding missouri is ground zero for this disease. What is it . Is it kids going back to school . Whats going on . Well im not sure. Im not sure that kansas city is ground zero either. I think at time we identified these children it was very early in the epidemic but we had links with your cdc collaboratives and were able to define the virus as 68 early on. The chief of emergency medicine, greg connors and one of my partners place ad query on serves that go to pediatric emergency medicine and Infectious Disease doctors across the country. We realized very quickly they were seeing same thing we were seeing. Gerri slow down for a second. Were trying to keep up with you. Lots of lingo there we dont necessarily understand. What i hear you saying is this thing is all over the place, not just missouri. Correct. Gerri colorado, georgia, ohio, kansas, oklahoma, kentucky. A lot of people affected. There are people being affected all over the country. Tell us more how this thing spreads and whether there is solution. Is there a vaccine . How are you treating the kids . The virus is spread by persontoperson contact and the precautions that were using for hospitalized children are both contact and droplet. But any type of interaction that brings close contact with children will likely spread this virus. Now, there is not a vaccine. There is not an antiviral. There is medicine for influenza. We have neither there. All the care is supportive. Which means for children most seriously ill were providing oxygen, bronco dial late tores, steroids and other modalities. Children in the intensive care unit, noninvasive ventilation in our facility. Gerri okay. For parents this is wide spectrum, we know children, many are having as simple of a system as a common cold. Say that based on number of children were seeing in outpatient setting. Many, many more than what were seeing admitted, even in the peak much our disease we were admitting, perhaps, 30, 32, 30 three 35 children per day over intense short period of time. Gerri doctor, what makes a difference between someone who get as severe cold from this enterovirus d96 and who gets really sick. Enterovirus d68. Number one, 2 3 of children have asthma or medication and had asthma in the past and not on active medications. So we have a certain type of patient that is having more difficulty with it. But a third of our children were otherwise healthy. So certainly the children with more critical disease will be having underlying diseases perhaps, puts them at greater risk. As we see this unfold, we know for sure about half of our cases of children in our Critical Care unit, the disease has been confirmed, we suspect that 70 to 90 of those children of that other 500 will be the same disease, but the beyond that, there will be hundreds of children who are having simple common cold symptoms. Those you treat just like a common cold. Gerri sure. Doctor, quickly, we have to go, what is the warning signal i need to stop keeping my child home from school and need to get them to a doctor or emergency room . Absolutely. So the children who came to our emergency room and admitted had difficulty breathing and the difficulty breathing was very obvious to parents. Rapid breathing, labor breathing, sometimes with color changes. Those are clearcut changes that the children need to come to the emergency room. Gerri dr. Jackson, thank you, great job. Youre welcome. Thanks so much. Gerri still a lot more to come this hour including your voice. Your voice is important to us. Thats why during the show we want you to facebook me or beat me gerriwillisfbn. At the bottom of the hour i will read your comments. Go to the website, gerriwillis. Com. Send us an email there. Into one reporter takes a test drive as a car salesman next. Market watchs charles pasy shares how his undercover work will make you a smart car buyer. There he is. New york state is jumpstarting business with startupny. An Unprecedented Program that partners businesses with universities across the state. For better access to talent, cutting edge research, and state of the art facilities. And you pay no taxes for ten years. From biotech in brooklyn, to next gen energy in binghamton, to manufacturing in buffalo. Startupny has new businesses popping up across the state. See how startupny can help your business grow at startup. Ny. Gov when folks think about wthey 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 breaking news from home depot. The retailer just confirmed what weve been reporting for days, that its Payment Systems were in fact hacked into. Home depot is now saying anyone who use ad credit or debt bit card in one of its stores in the u. S. Or canada from april onwards could be impacted of the company says people should check their accounts to make sure all the charges are legitimate. If not, contact your bank or credit card company. Again as weve been telling you, now home depot confirming its Payment Systems were hacked for better part of this year. Well continue to follow the story and give you details as they break. Now for something a little fun. When youre in a car dealership, do you know what is going through the mind of the fellow selling you car . You always want to know, right . He is here to tell us what happens. He was behind the scenes and posed as a salesman. What got into you . Well, you know, i have a both a cousin and good friend who are car salesmen. And i guess i have always had a personal fascination with this, thought maybe i could one up them. Gerri you thought you could oneup them. You chose another profession that nobody likes. Take a look at this gallup poll. This is professions honesty and ethical standards. This is what americans said . Nurses 82 . Great school teachers, 70. On it goes, 20 . Car salespeople 9 . Right you went out and pick ad profession that nobody has particular faith in. They get higher rating than members of congress. They should be clear. Gerri that is a low standard, a very low standard. You went out of and started talking to these people. What did you find . What surprised you when you went to the dealership lot . What surprised me how much a car salesman has to know. I watts working at a toyota dealership. Not just telling your customer, what is the difference between the camry and the gerri they know that. There are six different versions of the camry. Then you get into what kind of trim do they want and differ things like that. It is a very complicated thing. Gerri are you trying to tell me i should trust my salesman . Im saying there is a lot of information they can provide. At the same time, a salesman is a bit of an actor. One of the first things i learned was, keep a roll of mints on hand. Gerri they all do that . Not that walk around with bad breath in my regular life, the thing is, salesman, nobody will buy car from a salesman with bad breath. You have to be always essentially on. And its tough. Gerri that is one of my problems. Because i feel like it is always, so, so, are you doing a deal with us today, gerri . If not, i dont really have time for you . Right. I will say the new model, part of this were seeing if Dealership Community changed as so much as said, the new model they will let you walk out the door. You do not have to buy that day. I was told basically give every customer the option to walk out the door, to let them know they should shop around and get quotes from two other dealers at very least. Gerri holy cow. A couple things we want to get to very different and interesting. Were talking about used sales, car lot. Were not talking about a brand new spanking car youre buying. New thing is one price. Right. Gerri tell me how that works and why theyre doing it. Well theyre doing it because customers are tired of haggling. So a lot of car lots, you, you know, that are going to this model where you know, the price is on the car. You cant negotiate. There is a little bit of leeway in what you do from detroit. Gerri they are the prices . They are the prices. They are the prices. You say they are the prices but are they good prices . Are they good prices . Really depends, on lot i was working on i thought they were fairly competitive. The prices are high people will walk. Gerri you may not find out. That is part of the point, everyone comes in, 95 of the customers researched buying on internet. People know what the prices are. Youre looking for differential between the dealers cost and msrp. Gerri quickly before you go, one of the things on your list of things you should do when youre on a used car dealers lot, say consider using a middleman. What do you mean by that . Right. Gerri i think of middleman increasing price, not reducing. I think the opposite. When we talk about a middleman, a couple good companies. Truecar. Com, essentially what they have done arranged with number of dealerships around the country, certain pricing on certain cars. Some say you can get better deal from the truecar price. Costco offers similar service. There are sources you can use before you get to the dealership. Gerri charles passy, market watch reporter. It is interesting story. You just go anywhere, doent you . Knife fun, thats true. Gerri thank you so much. Later in the show, it is eve of the release of the iphone 6. Are you going to buy one . Well show you the best way to sell your old smartphone ahead of the big release. Are you tired of running to the dry cleaners, a new machine promises that it will shake out your clothes from wring cycles and make it smell like heaven. I will test out the swash. Its monday. A brand new start. Your chance to rise and shine. With centurylink as your trusted technology partner, you can do just that. 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Call Liberty Mutual for a free quote today at see Car Insurance in a whole new light. Liberty mutual insurance. Gerri so, weve all been through it, right . That moment where you wonder if you could wear that dry cleaned only piece of clothing just one more time, before sending it to the cleaners . Well, now there is a new product from Proctor Gamble promising less trips to the cleaners. Saving you a lot of money. Here with more is mike reef from p g. Welcome to the show. Great to have you here. This is your new thing, the swash. What does it do . Swash is 10 minute clothing care system. Gerri ten minutes . Ten minutes. It will dewrinkle, fresh and restore fit of clothes and perfectly safe for the garment. Say restore the fit. It will refresh it. Are you washing it . Youre not washing it. Basically what you do is light tension on the garment. The device sprays this swash pod juice on the garment and that hydrates the fibers. And dries for ten minutes. Within ten minutes