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Very much of the fox nation public debt that's everybody 20% of Americans have no financial safety net no emerges savings at all.
Senior vice president Charles Schwab Carrie Schwab Palmer and stresses the importance of saving is starting as early as possible she joins me now.
Did the numbers surprise you up Powell little savings Americans have right now and list of the top earners and -- country.
You know I've been following this for years and fortunately.
Those numbers are right on par and -- lack of savings in this country.
Is pretty is pretty low and so we created this O chuck I blew my cash campaign really to -- start the conversation.
Around the importance of savings I think you know.
Financial literacy and and budgeting it's of course -- serious topic.
And says the like give the campaign is really to create more conversation yeah comfortable that that's the concern for many Americans -- -- that a money market account.
They're getting not -- amendment does your percent interest rates in this country right now so what do you say to those people -- -- has got to get better diversified way.
To build some kind of cushion for yourself.
But nobody wants to get stuck with the money market fund occasion -- nothing right.
You know there are -- you know.
Is that that's a very personal question -- and there are some products out there that do provide a better in come.
And that's why it's really important to create a portfolio.
That is represented -- of your goals in your and your timeframe.
So it -- beat just about cash just having cash can be just as risky.
It's really important have diversified portfolio of stocks.
You know an all different kinds of stocks and -- international and bonds and then your cash to cash is one component to your total up -- financial security.
Let me ask you this Schwab is one of the biggest retail brokerage houses in the world frankly and I'm curious what -- saying within the company because you really do have your life.
On the retail investor like no one else right now how having feelings are you finding that they're getting a little more competent and equities or do you think they're still a lot of fear out there.
Here -- our clients are very resilient I mean certainly everybody has been conscious are or and you know concerned a little bit about about what's been going on.
-- and they're asking about the election and -- -- asking about Europe.
You know or even the Supreme Court decision just last week but to be -- -- You know what we find our when our clients are in it in and when they're working with us and they are really.
For filling out on their goals and their strategy around about staying.
They are not as concerned.
Now -- at least they are still coming to us about typical questions like -- how do you like save for retirement and and these kinds or how to I help my kid.
You know this you know.
Go to college or even you know get that first job reading big future yes it's it's it's -- -- it's it's every day for questions that we're getting.
Well you must have some very interesting conversations with your father -- about the company.
Your namesake but also about the markets overall to be a fly on the wall there -- -- Tom -- thank you care.
US economy is failing but we have a market expert will tell us why he's betting on retailers and consumer discretionary stocks.
Despite the recent pullbacks in spending first.
-- -- some of today's winners on the SMP.
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