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Don't save now pay big time later reports from analysts and Fidelity Investments as a younger workers are not saving the recommended ten to 50% of their income for retirement fact -- few.
Of any age are but that is -- -- time contains four millennia is in particular just trying to make ends meet.
I'm Mike Markowitz and join -- its Netscape is well in that camp and they agreed saying they simply don't have.
The money to say -- fortunately for them.
Charles Payne has loads of money but he's not giving it to anyone Charles already knows these two for making hits making your market special on Fox Business says that Mike and -- and just need.
To look at what they're where -- -- for the future.
You're argued Charles is always been young people don't realize.
Easy this could.
Well they they're the ones who set the trends you know all the news that comes out like this week all the teen retailers reported their earnings that's -- you know results and Wall Street was shocked and amber come in fits miss didn't and American Eagle missed that -- -- you guys -- because they don't -- those stores anymore.
The public -- did we get the special month ago.
-- portfolio just the stuff he had on that night -- and expressed Nike and guests this portfolio those three -- this week.
Up five point 7%.
Express was up -- percent -- was up 9%.
These are close that he go without bonds all the comedy films friend of mine did you did you take him up and acted by the stocks.
On thanks make -- look back yeah.
Well I haven't but I'm still doing my -- you know I haven't yet another thing you think about options that he's been.
Well what is it that -- view.
A -- unity -- you know let it be easy just don't have the money do you a little anxious if you didn't really think it as a young people it's a lack of education.
Really on the cracked -- to do it safely doing it as we're afraid of relinquishing that control.
To something that's really kind of uncontrollable.
But being on -- segment I've learned a lot and what have you started investment.
I have and it's back to -- -- generals did not impress you wish that he wouldn't be a good job not a great jobs throughout the just kidding but I -- my birthday is coming up soon -- what my 25 birthday I had ties into the I look forward to receiving your -- I.
A little thought others I moved there you know I don't.
Yeah -- here I think that's when he five is a great -- head start Roth IRA.
And thankfully I have a sister -- a financial planner and that's going to be her birthday gift to me.
It -- really look into the system -- more financial news -- advise them -- you know I can't keep -- close to the.
I guess I'm just.
He'll get -- interviewer -- -- -- first -- -- -- that people look at what's been on the market like the last couple weeks to do with the war fears -- all.
We got a big hit that I guess it's Memorial Day were flat right on the market to big run up.
Sees -- -- in on that that's kind of scary stuff.
-- it's scary and I don't want to take.
You know -- don't have that much money to spare cash I can just throw in the market right now you know hide anything I do.
I want to be.
You know at least 99% sure it's go -- -- -- that you know and it's it's scary -- -- US open it depends what -- kind of righteousness.
Although I mean that's why it's great to start when you're young you know here's the thing -- -- now.
I took -- my son in my nephew back to school shopping where to store.
Uptown new York and has appeared to -- -- almost 300 million dollars of those 320 dollars.
I mean someone buys a couple paired -- the year they know that these things are going to be awfully big now we -- -- where gonna be obsolete eventually dominant garbage.
Did you ever think Nike stock will be obsolete do you ever think Nike stock we'll go to zero so we voluntarily.
Dole out that -- knowing it will be worth nothing.
And yet we're afraid to be the owner of Nike -- the sense -- -- asking people to do beat the owner of these companies all of them.
But you know the rapids that you guys can't get the money to start -- It's really hard.
Taking 10% of my -- -- putting that into the market.
It's really hard to do especially living in New York City and having student loans to pay back and bills sell your -- gonna need to have a good cushion in order to start.
That you definitely you have to take -- that they.
That what do you tell that they don't have the sense that they don't have the 50% you're -- is still out -- Everything is start my big thing is that you people have more money than they acknowledge they say they do again you know -- some.
Instead of the 300 dollar -- you may have to get a -- a thirty dollar both -- and and didn't take the other 200.
I listen that's -- -- saying you know we can't sacrifice being hit being cool you know.
Look at my -- cal Cooley is we'll.
He is on the you know -- He get down on -- -- that same outfit.
Thank you it works.
Appreciate that -- and -- people together and yeah Michael Mayo plus what do you do you feel that and and have a good you feel like we'll wait a minute I wanna commit.
I don't know I tend to I don't have the money right up front so that the 10% that you hear holds you back with a 21% what if -- -- just a little bit to get you start.
It seems like something always comes up.
You know you put some away and then something comes up in your life where now just just now I have I have four weddings in the next month.
-- -- -- -- -- -- -- -- -- -- Think that I haven't done that you know all the I think that helps a lot about the friends family and they'll get it actually ever present -- that I get in the -- -- huge obligation.
On the front and you know -- you know we can always come -- to Charles pointed -- things we we.
By the time -- the money for what blocks you is -- rule that an above.
Yes and I like my money -- can see it.
You know it's seated in his hands and Bob Charles is her personality -- and her -- -- 20 yeah -- wasn't at all.
And up in all fairness to them every day this week I took a different couple of different age groups so we had.
Forty year old last night had seven year old never been in the market tonight it got a -- 45 years old.
Brilliant what it -- -- a seventy.
Will be nothing -- -- -- -- little program designed in hell yeah I mean the good guys mean looking -- he looked fantastic he's energetic.
-- had a few setbacks but he knows he knows he made some big mistakes though.
In the -- 46 peace plan on having kids he's never had any kids can have a happy kids now so.
He kind of deficits so we let -- living forever and I think that's one of the things that's closes up on the the -- evidence.
That's a beautiful thing getting -- to do -- because the -- we live we want to -- great.
Do you like to get -- like -- -- in life threatening health care -- be questioned for girls as young as you.
Taxes to question.
War whether to work and that there was excuses not to let them come up.
Missing hurdles and in general yet that you here's another reason not to -- I don't like to have scared you know I'd like to be cautious and then know whatever comes my way I try to do is just -- -- anything in my life you know any negative.
Thing that comes my way but you know you can't help just human -- to -- -- little scared and intimidated.
I think it's also a herd mentality as well if you're talking your friends are other people who are affected by these hurdles serve then certainly you can't be the one person to go against that.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Well I know a lot of people who honestly say they take home let's say 8900 dollars a week.
I -- in the summertime a lot of them are spent in the 4500 dollars alone just going out to clubs now find bottles and stuff.
Like that -- that's both that's not good idea included an overhead cabinet -- wanna thank you heard Charles gets into this you've got about these the past it is he cares about people.
He has friends.
Those friends often.
-- -- -- guys thank you all very very much.
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