time for the final call. carter. >> sell alcoa. >> mike. >> sell call spreads. my mission is simple to take you money. i'm here to level the playing field for all investors. there is always homework and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends, i'm just trying to make you money. my job isn't just to entertain but educate and teach so-call me or tweet me at jim cramer. tonight i want to talk to you about the big picture, about building wealth in general and not just owning stocks in particular because stocks are one part absolutely the most important but still one part of

building real wealth. there are some people call them the 1% if you will who can make enough money from their ordinary day to day income to become truly rich what a great thing. for the vast majority of americans that paycheck is not enough. you need to work with it and if you keep watching, i'm going to tell you how to do that not just for the next year or two but for the rest of your life. usually, i come out here and tell you what i think about the market, what themes are best the stocks that fit the themes but the truth is, before you start investing in stocks there are a lot of other things you have to do if you want the pay off from those investments to mean something later on in life when you most need the money. you may not want to hear this but there is absolutely fruitless to think you can get rich in stocks if you haven't laid down a foundation for building long-term wealth before hand. what do i mean? simple. you can make a fortune in the market, but if you're hemorrhaging money everywhere else, a healthy portfolio isn't going to do much for you. at best it will keep you afloat

when if you planned better it might have let you become very wealthy. there are three, three absolute necessities, three things that you must take care of before you even consider anying a stock. i don't usually address these subjects, i assume you have it taken care of but sometimes i feel i'm remiss in not mentioning them. we don't teach financial lit ra see. a few colleges will teach you a thing about how to manage finances though you might learn a lot about english literature. that doesn't mean i can't offer personal finance primmer "mad money" style especially because i know but many of you crave this education. you just ask for it every day, so i'm done ignoring it ends tonight. one of the three things you must do before you can own stocks, first, i know this will sound boaring and you've heard it a million times, sucks the life out of the fun but i need to say it and i have to say it. you have to have to have to

pay off the credit card debt. i have to be entertaining but i have to nag you. i'm not one that believes your credit cards should be cut into niece pieces and put into a nice mosaic. i do acre knowledge the facts, if you have credit card debt you're paying a high interest rate on that debt. we're taking rates that may make a loan sharp. you're paying a loan shark, now, it would make a a loan shark blanch. tony soprano would give you better terms but credit card companies won't break your kneecaps if you can't pay back but they will financially kneecap you that will destroy what you build up from your paycheck or other investments. like many as spegts of personal financial, i have at one time or another brushed up against the downside of credit cards. between college and law school i owed enough to make it so i had

very little money left to live on because of rotten luck and a bad break i ended up living in my car. i'm a saver. i managed to put a few bucks away into a retirement i made. by the way, his first book you have to ask me what books are good "one up on wall street," it's at amazon. once i get a permanent address and knew where i was going to live even though i was in hawk to a bunch of companies i owed money to before i live in my car, the credit card issuing companies found me and i took a bunch of them down. i pretty much from everyone that offered me plastic. i always figured you can pay the minimum on each one and string everybody out. the credit issuers never seem to mind. i remember i had four going each month paying the money mum and i got an offer for one more and said what the heck? why not. when i added up the minimum payments and charges they amounted to my biggest expense

after my rent. i wanted to default on them befeared the consequences. i restructured my none credit card debt. they found me and their easier payment plan gave me enough breathing room to get by until i went back to law school where i got a scholarship with room and board and i got nice legal work and worked on the trial and the hourly rate seemed huge to me almost every penny went to those darn credit card companies. there was still nothing left for me. in the end after school i got lucky and landed a job in sales at goldman sachs and paid off the bills quickly. what a relief. in the end while i couldn't stomach opening the mail not everyone will be as fortunate as i was snagging a job to take me out of the wilderness within several months of work but i'm realistic when i say there is no way you can make enough money away from these card issuers to save in any meaningful way. let alone pay rent and put a meal on the table.

let me put it to you this way, even if you're a great investors, one in a million trader, it won't matter if you have credit card debt. with good credit you could pay 15% interest or 20% or 30%. if you have a 20% annual return that's a good year but if you have a big balance on credit cards you gains will be sucked down the grain by interest rates. this is without nod of investing, if you go into credit card debt, then stocks are just going to be a hobby for you. stocks can't be the wealth generating machine they should be because the wealth will be cancelled out by the wealth destroying powers of credit card debt. i sound, i know i sound like your parents here but your parents are right. there are three things you need before you can buy stocks. the second is health insurance. you should not invest a penny in

the market unless you have health insurance. you might think the affordable care act makes this a non-issue but you have to buy it or you pay a fine. the penalties aren't big to start but get big e over time. there isn't any choice. don't be a moron. if you object to obamacare and plenty of people do it's dumb to pay a fine and get nothing rather than pony up and get insu rans and there are ways to make the cost more bearable. you shouldn't need legislation to make you get insurance. medical emergencies are the single biggest cause of bankruptcy. i was there when i was homeless. no health care plan and had to drive hours to get to a farm workers clinic to see a dock tomorrow and i couldn't get the care i needed. i know you don't think it could happen to you and the younger ones feel invulnerable and you're not and you don't want to be exposed to the downside financial risk of not having health sininsurance.

one illness, one visit to the hospital can crush your savings. it's still a heck of a lot cheaper to buy insurance before you get sick. and you'll need health care eventually at some point, everybody does. last but not least, before you invest you need disability insurance. the rational for health insurance and disability is simple. without these insure rans you can get wiped out in a second. the precious gains you racked up will be for nothing because you'll have to use that money to pay hospital bills or support yourself while unemployed and injured because you didn't have health or disability. you have to pay off credit card debt and get health and disability insurance and the last two are offers by most employers at good prices. if you also think you can afford to own stocks these are more than just items on a personal finance to do list. they are essential elements in your strategy for capital preservation. remember, we talk about capital appreciation.

that's when you grow your investments using money and make money. we acre knowledge capital preservation comes first because you need that to protect your money in the present if you want to grow it in the future. pay off credit card debt and get health and disability insurance are important. without them investing doesn't headache make any sense. why bother? without health care and disability building wealth can be fruit l if you're one of the best investors in the world. so take care of these issues starting tomorrow and then we can create the portfolio that makes the most sense for you. zady in connecticut, zady. >> caller: hey jim cramer. >> how are you? >> caller: i love the show and appreciate you taking the time to call me back. >> of course. >> caller: i quit my job two years ago, 57 years old now and i have $400,000 in a 401 k. i've been trading myself like in small cap, which i haven't done recently thank god, but s&p and good returns the last two years

and now i don't know if i should roll into an ira. >> do you like what you have in your 401 k? >> caller: not really. i was in fidelity's fbi and did well with that for awhile. >> you should stick with it. you're in good shape. i like what you've got. that's a good opportunity. some people are really locked in. let's go to mike in new york mike? >> caller: hey mr. cramer how are you doing? >> all right, how are you? >> caller: fine. i have a question concerning city pensions. i've been a retired police officer for two years and been in the city pension system for over 20. what is the difference between a 457 plan and a roth ira and what are the benefits or pros and cons between the two plans? >> i'll have to ask you to check with your people at your pension plan because the 457 deferred plan, i'm not sure how that works and i can't cuff something here. it's too important, i'm very sorry, but that's a personal

decision to you, and i don't feel comfortable actually offering advice on that particular situation. before you can even think about investing in stocks build a foundation for long-term wealth. pay off your credit card debt and get health and digs disability insurance. you know i want you to be diversified. i'll show you how to balance your retirement plan and then should you ever tinker with your contribution level? plus, the 401 k isn't the only game in town. when it makes sense to add an ira into the mix. "mad money" will be right back.

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tonight we're talking about a subject we don't spend enough time on in the business media, long-term wealth building. if you're serious abilitiesout getting rich and staying that way, first do two things. go to amazon or your local bookstore and buy the entire jim cramer catalog and now that i got that self-promotion out of the way, the second thing to do to prepare for retirement, even if you're in the early 20s and just started working, so you've got to start saving now. notice i didn't say save for retirement. i said prepare because just

stuffing your money in the first national bag, aka stuffing it into your mattress or 401 k great, they might not be enough to prepare for retirement. you should take an active hand in setting yourself up for retirement. really getting involved with your money. getting your hands dirty, especially with the traditional vehicle for so many retirements, fixed income or bonds yielding next to nothing. and with that minimum word not worth the risk. and that's what i'm here to help you do. young people don't turn off the tv. you got to do this too. believe me if there is anyone to make the process sound interesting, it's me. you need to learn how to do this sometime. wouldn't you rather learn from a guy that's been around for ages even though he sometimes talks about lululemon and kors handbags and the sound effects that drive points home. all right.

before i get going, i promise the give you useful advice you can't just find on the internet because so many of this has been repeated at nauseam it's not worth calling advice, you should save. should you put money into an ira, let's think about that yes, yes, you should. that's not advice just a fact. people make carp rears out of saying use your ira, use your 401 k, cut up your credit cards, pay your bills on time. don't spend more money than you make. all great pieces of advice everybody in america already knows, and yet, there are people who will still tell you just that just those points and assume it's enough to help you get ahead. i say it's not. basic financial responsibility is just a jumping off point like hey, diet and exercise please. i'm the guy that tells you where to go from there because i didn't make a career out of giving people money advice. i made a career of using money to make more money and i came to

this gig later in life. so how from the perspective of a money manager like me should you go about preparing for retirement? useful advice can i give you beyond just that you should use your 401 k plan if you have one, and your ira, which anyone can have because you don't pay taxes on the money you contribute and you don't pay taxes on the gains allowing for year after year on tax compounding. what you should not do. the convention of wisdom says put money in but leaves you on your own at the beginning of a complex and confusing process. what should you not do with your 401 k contributions. first and foremost don't use much of the money to buy stock in the company you work for. i'm far from the first person to say this, yet, company stock is still the most popular 401 k investment out there. more people put the retirement

dough into the stock. putting too much money into your company stock, must be one part of a larger pie. why? let me put it in "mad money" terms. every we think so we play am i diversified. you tell me your top five. meaning you have all a five eggs in separate baskets with no companies part of the same sector. when it comes to investing, as i tell you in the first gospel according to jim cramer's real money staying invested in the same world is the only free lunch out there. regular viewers know if you expose too much of your portfolio, you are running an enormous risk. surprise you had all of your money in tech stocks. many people did. you would have been virtually wiped out. something that soured an entire generation on investing or the beginning of 2013 your entire portfolio was higher yielding dividend stocks. this had been performing well for years because bond yields were so low and yields kept

going lower and bond prices going up which meant investors had no choice but to buy stocks with big dividends but then in the spring of 2013 we had an interest rate scare. interest rates rose. the high-yielding stocks trading they got crushed because they finally had real interest rate competition from the bond market. so if all of your portfolio or 1/3rd was made up you lost money even though 013 was fabulous. that's the danger of not being diversified. we'll get more interest rate spikes. you'll get hurt again. you got to diversify. apply that logic to your 401 k. do you really want to invest retirement money into the same company paying your salary? that would mean you're putting your savings in the same basket as your paycheck. what if you worked for enron for

an example or any other company that goes under. you lose your job and retirement savings. it's lose, lose. you think it's conjecture? i had a radio show called "real money" and i got a giant number of calls telling me to stop bashing enron. why? because the callers had a ton of stock in the company. i then came back and explained perhaps they need to diversify away from enron. each time i did it i heard how they got discounts or how such a great company was too terrific to sell or the fact it z it was down so much they couldn't sell. one day it was gone. but many people made this argument before and the company stock is still the number one investment. why? you probably you feel like you understand the company you work for. i'm telling you that excuse doesn't cut it. you got to cut back. just cut it back tomorrow. here is the bottom line. diversification comes before everything else when you invest whether discretionary portfolio

to make mad money or investing for retirement in your 401 k. never put more than 1/5th of your money into the stock you of the company you work for like putting 1/5th of your capital into one sector. remember, that's what you're doing. you're doubling down, which always carries risk. stick with cramer if you want to know more about how to actually manage your retirement money so you can build lasting wealth for you and your family. there is much more "mad money" ahead. americans are living longer these days and yes, that should change the way you prepare for retirement. i hope you fill the golden years with green and suspects the 401 k match doesn't cut it. when to go above and beyond your normal contribution. ira, 401 k, both i'm weighing in. stick with cramer.

everybody in this country wants to get rich quick except for hippy types that don't believe in currency, want to live off the grid but to make obscene amounts of money overnight is peddling a scam or doing something illegal. how about the meth operation in "breaking bad." i love when he came on "mad

money" and talked about his product being like apples. you didn't need the fabulous distribution network, that darn pure blue meth sold itself but spoiler alert, that get rich scheme ended real bad. the best most reliable way to make your money grow as i explained is do it slowly and prudently which is why tonight we're talking about long-term wealth building. here is a rule that's critical when you invest for your retirement. i know retirement money is meant to be with little risk taken. but it's possible in this era of very low interest rates, which seem like it could go on for a long time that you could be too cautious too prudent and too risk adverse. when you manage your money there is a point when prudence can be like recklessness and this is something you see when people want to save for retirement. i like to say you invest retirement, not save because

saving makes it sound like you sock the money away into something with a low return maybe a money market fund something i believe no one would invest in if they understood the risk of either and somehow you feel you'll be fine. that unfortunately, is not how it works, not these days not this age. there is a huge element going on to it. most people when they put money away for retirement feel like they shouldn't take on too much risk, that their retirement savings are too important to jeopardize by investing into stocks. i understand why many of you feel this way. stocks can go down and you don't get the money back when you do. unlike bonds but if you shun stocks and cling to bonds because you believe there is less chance for downside that's not being that intelligent now. i call it recklessness prudence. investing no money in stocks is far more likely to jeopardize your retirement savings in the long run than investing everything in stocks would be. why? okay. when you're investing for retirement, you're in a a race against time. you need to generate enough

hundred to support yourself for the rest of your life by the time you plan on retiring and the truth is that if you are too risk diverse, if you load up on bonds in your 20s, 30s and 40s avoiding stocks because of the risk and i see plenty of iras like this you will never generate enough to retire comfortably. the money will be safe but that's all it will be. it's not enough to get a low single digit return something well below 4% from 30-year treasuries, the highest yielding bond out there because with that low rate you're probably going to out pace inflation. it could not and is not a tie national suicide bag. you have to factor in the need for capital appreciation. using your money to make more money, perhaps a lot more money. let's not forget the bonds are the epitome of safety. in an environment where interest rates are rising faster rates rise the harder the bonds fall something that will truly be felt by anyone that puts money

in a long-term bond fund that can lose money if rates shoot up as so many feel will happen if the federal reserve doesn't happen. i'm not one of them but many say that. so keep all of your money, retirement money in bonds means you likely won't generate enough return to retire when you want to and beyond that there are times when bond prices have genuine downside risk. they can certainly drop enough to raise two or three years of coupon payments like 2013 if you timed it wrong. what else falls under the category of recklessness? one of the most popular 401 k, stable value funds. that sounds reassuring, stable value but the truth is this is a type of fund that gives you a slightly better return than a money market fund and worse return than a high-quality bond fund but they have insurance wrappers but if the return from

nothing but bonds is too much to build wealth the small return from stable value funds even worse. the definition of trying to become so prudent you become irresponsible. the goal of the show my mission statement is to help you use your money to make even more money, even as i know that requires work and you can't be on auto pilot as so many of you are. when you either in your 401 k or ira or investing account put must be into treasury bonds, you take that money off the table and say this money, i'm not going to use it to generate more wealth. i just want to keep it safe. you know you can't have it both ways. if you cling to safety and when it's time to retire you don't have enough cash or take some risk in stocks when you're younger and go for higher returns that will enable you to retire wealthier and happier because while money can't buy happy nls, being broke is a way to be miserable. i'm not saying there is no place for bonds in retirement, there is. as you get closer to retirement

you should have cash in a risk free zone because you'll use that money shortly but stocks come first as an option much later in life which is so different when pensions were bigger, life expectancy was shorter and interest rates weren't being kept down by a federal reserve and the european economy is bordering on recession making their bonds unworthy sending money, creating absurd demands. even corporate bonds are difficult to invest in as they offer yields that used to be slim. those who bought big corporate offerings ever, the long-term bond offerings might do better in the common stocks and reinvesting dividends. 401 k plans have limited options, bothers me but it's true. the best way to invest in equities is to find a cheap index fund that mimics the s&p 500 which is a good proxy for the high-quality stocks. the stocks that have been proven to invest in over pretty much

any 20-year period. as you get older, you can and should take stock money off the table and then put it into high quality bond funds for safety but only some my rule of thumb is keep 10 to 20% of time in bonds when you're in your 30s and no reason to own them before you're 30 and in your 30s, keep it up to 20 or 30 in retirement percentage and 50s, 30 to 40 and from age 60 until you retire stick from 30 to 40% bonds this may sound aggressive to some but it's the best way to generate returns the way you want to and when you want to and once you retire, you should still own stocks especially higher yielding stocks that can generate more income versus the lower return of bonds. they should be 1/3rd of your portfolio. this is very much countered to the convention the wisdom that says you should have more bonds but the conventional wisdom was coined with shorter life spans.

we're living longer and you'll need the extra upside from stocks when you retire because eventually that safe money in bonds will return out. not owning stocks once you're retired is a bet against your own longevity. bottom line you have your first principles of retirement investing. stick with cramer and i'll give you more specific tips for using your ira and 401 k to make more money. sean in new york sean? >> caller: hi jim, thanks for taking my call. my uncle frankie got me hooked on your show and i'm a big fan. >> that's terrific. my question is about investing a roth ira. i'm currently 525 and recently graduated from law school and i took advantage of my non-exist tablet tax rate and maxed out my ira from summer job. i have my money invested in broad stock invest funds but want to invest more aggressive. >> sean, look you got to get into an aggressive mutual fund for a quarter or half of the

money. looking at aggressive growth. in the next ten years, you got a shot to make a lot of money from the fund. ten years from now we have the same conversation, you can pull back. there is your chance to risk that money because you got the rest of your life to make it back. dan in florida, dan? >> caller: hi jim, long time first time. >> yes. >> caller: jim, i would like to hear your thoughts on a buy and hold strategy regarding come opinion knees that have had consistent compound annual growth of over 10% per year for many years. >> i always say to people how can you buy and hold them if they have consistent growth if next year they are not consistent and i've seen this time and again typically with technology stocks. i remember digital equipment with the same exactly what you said, it just kept doing it and doing it and doing it and one day disappeared. burros doing it these are all companies i remember that defined that what you just mentioned and then one day they missed and then they missed and

then they missed and then they missed. can't have that happen. going into your golden years, the best is yet to come. learn to make your money work for you. i'll give you advice along the way there is more "mad money" ahead. when it's right to double down in what you put in your retirement plan and other ways to make as you were you don't have to work into your last breath and weigh out your options and your tweets just ahead, stick with cramer.

have you heard of the new dialing procedure for for the 415 and 628 area codes? no what is it? starting february 21, 2015 if you have a 415 or 628 number you'll need to dial... 1 plus the area code plus the phone number for all calls. okay, but what if i have a 415 number, and i'm calling a 415 number? you'll still need to dial...

1 plus the area code plus the phone number. so when in doubt, dial it out! if you're looking to build the foundation of prosperity and watching the show which is probably important to you,

unless you just like the sound effects, that's why it's important to set up the retirement. that's why we teach how to use 401 k or ira. i'll tell you more about the later after the break. i want to share my favorite piece, personally of 401 k advice. this is not some abinstructstract idea. it's how i manage my 401 k. unless you think i'm a clonewn, i won't get on the floor and spin. you know what i'm about to tell you is worth hearing. most plans take part of the 401 k plan and usually that contribution is automatic taken out of your paycheck so every month you plow in 1/12th of your annual contribution. people will tell you to leave this alone and passively invest your money like do it over time. i am not one of them. why not? because there will be times when the market takes a hit, a big hit, a nasty hit and i think you want to be able to capitalize on that in your 401 k.

why would you contribute the same amount every month? would you want to invest the same when the market is near a top to a bottom? no. here is how you can take advantage of a big decline in the market. when you have a real long-time rise. it's really simple. whenever you get a 10% decline in the s&p what some people would call a real honest correction, you got to double down in your contribution. that month you put in twice your normal 401 k contribution meaning 1/6th of who you plan to invest over the year. instead of 1/12th that you invest. if the market stays down do the same thing the next month beyond that wait another quarter before you double down again although by that point the year might be over. i do this. this is what i do. it may not sound like it makes a

difference but i can tell you it does. if you embrace the 12/11/12th solution you will make more money. to make sure we're clear here, i'm talking about investing money in the low cost index fund or using an actively managed fund, one that operates like an index fun with a brain with a manager with a long record of consistent out performance. you probably can't find a mutual fund like that they are so limited so usually best to stick with an index fund. i can't get these people to change. that's what you double down. will this make a huge difference in four or five years? maybe, but over 40 or 50 years, it could mean tens or hundreds of thousands of dollars and adjust your 401 k contributions accordingly. actively managing things and not taking the passive approach that no longer flies. here is the bottom line, pay attention to the market so when

you get a 10% decline, you can double down and invest twice your normal contribution that month and take advantage of the cheaper merchandise out there. when you have a long time araising, you can afford to think of a meaningful decline in stocks is nothing more than a sale. no different from a sale at your local department store. that's the right way to manage your retirement portfolio. "mad money" is back after the break. she inspires you. no question about that. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph,

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while we're on the subject of long-term wealth building, i need to tell you about the limits of what many people consider on the holy grail of retirement saving your 401 k plan. i've given you the dos and

don'ts tonight but it can be a vital part of setting yourself up for a cozy retirement or a wealthy one, why not? but i'm definitely not part of the crowd that says you should max out on your 401 k contributions every year, that would mean putting $18,000 away, the max. you'll hear people site high management fees and administrative cost as a problem and eat away at the retirement capital, no question. for my money, the worst thing about 401 k plans is the welcome of control over your money and lack of choice over what you can invest in. i believe the best way to invest is you know is to buy diversify diversified portfolio. do homework on each one so that way you know when it's time to buy more and sell and when it's time to sell everything, which is very rare by the way. most 401 k plans don't give you that option. you can choose between a couple dozen, some for stocks, bonds and even though you can lobby

the resources deputy most of what you have to choose from isn't that great and i don't know if i would waste my time trying to change those things. that's okay. it's why we have the ira meaning individual retirement account, not the army. the ira doesn't have the high management fees and lets you invest your money the way you want to, making it in most ways the superior vehicle for your retirement investment. it has the same great tax deferred and with many plans, your employer will match at least some percentage of your contributions up to a certain point. that's free money. you would be a fool not to take it. but there is usually a cap on how much the company you work for will contribute so here is my rule of thumb for retirement investing, contribute as much money in your 401 k as needed to get the full company match and then stop right there. at that point don't put another penny into your 401 k until you maxed out your ira

contributions. after you get the full match, you want to put all the rest of the money you're saving for retirement into an individual retirement account. if you want to know whether to use a regular ira or roth or the difference between them may i suggest you pick up a copy of "stay mad for life"? that's the personal finance book i wrote that gives you detail. for now, we're talking a regular ira where you pay no taxes on gains inside the ira. they are allowed to compound year after year until you start withdrawing money at which point your withdraws are taxed as regular income. still a sweet deal. now you can only pour $5400, i'm sorry, $5500 into an ira unless like me you're over 50. in case you can contribute $6500 a year. max this out if you can afford to after you milked your employer dry. if you do that you can fund a terrific retirement. if you want to contribute more, go back and put it in your 401

k. 401 k plans have a lot going for them but also deeply lawed. that's why you should contribute as much as it takes to get the full match and after that all of your retirement savings should go into an individual retirement account with lower fees and flexibility. if your 401 k has no employer match, start by contributing to the ira and max it out at 5500 a year or 6500 if you're over 50. "mad money" is back after the break.

they pile up we got to get to work your tweets you've been sending. the first tweet from who asks how do you take add vanadvantage between stocks bonds and money markets

to grow an ira? this is very easy. depends on your age. if you're a younger person i don't want to see any bonds in the ira. what will you do? compound at 3%? i want to see stock, stock, stock. as you get into middle ages, load up in bonds. we need to make money with our money. we can't do it with the bond market. next at ryan myer hashtag get a plan. i'm looking at difvidend stocks. what evaluation do i review? there is a terrific newsletter by dave who worked with me for a decade who does dividend stock advisories. he tells me which are safe and which aren't and that's what i would recommend. at beamer 508 at money money, get a plan pay off car house or invest in it. really important. okay? pay off a the car, house let it run. your mortgage can be very low. honestly, you might get a better return from dividend stocks that

we talk about and get the mortgage must be. that's a no-brainer for me. let's get to the next tweet. this comes from at ctv 8 r. what percentage should people save from their income a month? this is bunsis one area people can used a vice. my advice is your should look at what your discretionary money would be away from eating and that's the money that i want to see put away. all right? in other words movies that kind of thing, try it. i did it for two years and i cannot believe how much money i saved. two years when i got out of law school. up next, we have a tweet from at little feet farm how many stocks is too few too many to own. stephanie link and i run a portfolio. i know stocks and she knows stocks, we can do about 15 each. we're professionals, we know how to do the analysis. if you're an armature no more than ten, it's too hard and you don't have the time.

locked student loans, less than 3%,, you are brilliant. that is just what i want. look at mass limited partnerships that are good higher yielding utilities are good and the individual the iyr within there, there are excellent, excellent real else state investment trusts. those are perfect for you. the next tweet from at sean and it says at "mad money" how much tinkering with a retirement account is too much? hashtag get a plan. i know a benchmark of too much changing around and that's my fantasy league. do not change 26 times a week. that makes no sense. you do the homework. you listen. if everything you bought is good, don't make any changes. we make changes when our thesis isn't panning out, not because we want to make changes for the sake of making changes. one -- am i getting them here?

the following, do you favor any particular financial advisors hashtag get a plan. this is really important. i need you to find someone else who has one and recommends that person. why? because i discovered this industry most people are too small for the big guys. i have been on fights representing people who have $100,000 and don't get any treatment at all of any sort of personal touch. so you've got to find someone who in your orb who has a good person and use that person. i know that sounds like geez i'm punting but it's not because otherwise you're not going to get the personal touch that is so needed. all right? stick with cramer.

i like to say there is always a bull market somewhere and i promise to find it for you here on "man money." i'm jim crimer and i'll seeamer and i'll see you next time.

>> narrator: in this episode of "american greed"... solomon dwek is an expert flimflammer. >> here was a guy that ran a $400 million real-estate ponzi scheme in his head and on the back of a napkin. >> narrator: dwek then commits a $50 million bank fraud and becomes an informant in the biggest case of corruption and greed in new jersey history. >> dwek was starring in a movie that only he knew was being shot. it sounds like a guy channeling "goodfellas." >> whatever the script is for ponzi schemes, frauds, cooperation, rip it up and throw it out. this one's different.