>> pfizer because clearly that's what i need on this new year's eve. thank you. >> i don't know what you mean by that >> i don't know what he means by that >> catch "fast money" again 5:00 p.m. eastern on wednesday. meantime, happy new year, everod happy new everybody. jim cramer coming right along. see you next year. my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica my job's not just to entertain you but to educate and teach call me or tweet me @jimcramer every night i come out for two big reasons. first, i like the attention. but the second most important reason, i want you to help build

and preserve your wealth love it or hate it, i believe the stockmarket is the best ladder we have in this country for social mobility. there are millions upon millions of people in this country, but there simply aren't that many jobs that pay you a salary fat enough to make you rich. even if you're a cheapskate and save every single penny you earn the truth is unless you were born with a silver spoon in your mouth, plan. as long as you can save a decent chunk of your pace check and invest it wisely year after year, you can make your growth become if not filthy rich, at least, the very least, financially independent, meaning you don't need to worry where your job is going to come from or rely on social security,

which might not be around when some of our younger viewers hit retirement age that's why tonight i want to help you figure out the best way to manage your money in order to help achieve real financial independence but in order do that, we need to talk about the concept of generational investing because the kind of strategies that make sense when you're young and in your 20s are very different from the sort of things you should be doing when you're middle aged or senior citizen we don't talk about that on "mad money. tonight's different. there's one thing that doesn't matter no matter how old you are. you'll never get your money to work for you unless you invest in the stockmarket even when we're in a bear market when it feels like stocks go down every single day, when you take a long-term view, it's easy to see the stockmarket is by far the most effective method of

wealth creation out there. it might crash like it does upon ok'ing, but if you take the long view, stocks tend to go higher i don't say that as some sort of pollyanna. when i got started in the business in the early 1980s. the dow jones industrial average was trading in the 800s, and despite multiple bear markets between then and now, the dow stands well above that mark, right? that's a great amount of wealth creation that's why i'm so adamant that no matter how old you are, how wealthy you are, you should have some of your money socked away in this, in the stockmarket. for those of you who are concerned that it's rigged, too unreliable to trust your savings, can i give you some historical per speck turf right now?

if you go all the way back to 1928 -- that's right, before the stockmarket crashed through the end of 2014, the average annual return for the s&p 500 including dividends is about 10% show me an asset class with a better average return. you can't do it. stocks aren't just the best game in town. they're the only game in town if your plan is to you your wealth. for you who plan to get rich quick, that annual return, i know, it may not seem like an impressive number. some may say thanks for nothing. they're wrong. forget it. they're earned next to nothing let's examine that 10% figure in absolute terms when you're taking a long-term view, which is what you're doing, racking up a 10% return

from a simple inexpensive index fund, which you know i prefer, it starts to seem pretty darn impressive sure, it's going to have its up years and down years that 10% difference is going to help but to understand a value of an asset class, you need to view this number through the lens of what's known as compound interest sometimes i'll talk about this as the magic of compounding. think of it like this. if you invest $100 in the s&p 500 and it gains 10% in the first year, then you've got $110 after another year of 10% gains, you've got $121. a third of a year gives you $133 the gains get larger and larger because each year you make additional money off the previous year's profits. eventually you'll double your money in roughly seven years for those of you really young

right out of college, waiting seven years, i know. it seems like an eternity. listen i've got more ways to grow your capital faster if you stay tuned. the truth is as you get older, it becomes pretty incredible the magic of compounding works the best the younger you are that means the more time you have yet young people are least likely to be impressed by that steady class depreciation. that's why economist bernard shaw said youth is wasted on the young. so let me do my best to make these numbers sound more impressive i'm going to walk you through it suppose you're 22 years old and you're just entering the work force. you've got more than 40 years before you're expecting to retire let's say you invest $10,000 in an s&p 500 fund right now and

suppose the next 40 years aren't too different from the last 40 years. in that case, if it holds steady at around 10%, in four decades, your $10,000 investment will turn out to be worth more than 4 $50,000. that will help you pay for a huge chunk of a ritzy retirement and that monster multiyear gain didn't require any kind of stock picking. it doesn't require you to trade or time the market or even do any sort of research into individual companies, which i know is hard for most of you you just need to invest your money in a low cost s&p 500 index fund or etf and then you wait granted you're waiting 40 years. but 40, 50 years before you

retire, that seems more valuable that the investment you made when you were young and had your entire work/life ahead of you to make money the right way please, i'm begging of you think of it like this. a little money saved is the easiest way possible when you're young to turn it into a massive fortune when you're old and have all sorts of additional costs and responsibilities and all you have to do if you initially save that money is let it sit on the sidelines like a 401(k) so you don't have to pay dividends or capital gains. the same logic applies if you're 40 or 50 but you get a lot of bang for your buck if you start when you're young 've if you don't have time do your homework, the stockmarket is the best way of growing your wealth andthanks to the magic of compounding, the sooner you

invest in the market the bigger your capital gains will be not just capital gains but dividends. everything gets reinvented let's go to brenton in new mexico brenton. >> jim cramer, a big booyah from the landed of enchantment. how are you? >> i'm doing fine. how are you? >> caller: i'm doing fine. minimizing single stock risks. >> right. >> caller: but inherently isn't it fair to say they have other risks that you would find with a single stock portfolio >> absolutely. i think that's why i suggest there should be two portfolios there should be a capital appreciation and depreciation fund that's put aside for retirement and that should be in a diversified fund

i prefer it to be an indetermination fund the rest should be mad must-have. a sliver of it that's why we call the show "mad money. i don't want the bulk of your portfolio in single stocks there's too much of a risk i want you to pick stocks. i know you do, or you wouldn't be watching the show brian in oklahoma. brian. >> caller: first time buyer and investor how do you measure between the company and value? >> we spend a lot of time talking about that what you want to do is measure the future earning stream. if you can do that, you can figure out what you pay now. what really matters is if you take a longer term view, you can get a feeling for what it will give you for dev denlds a s a capital gains. it's for the appreciation stream i want you to have a little bit

of both, but you have to think about what a company can earn in the future this show is about helping you build and preserve your wealth and the stockmarket is the best market out there to do that. a lot more "mad money" ahead including the four-letter word of the investing world what it is and why the conventional wick dom is all wrong. plus, i'm not pulling any punches here what you absolutely must not be doing in your retirement account. and i'm unveiling the rules you need to unveil in the bare market so stay with cramer. >> don't miss a second of "mad money. follow @jimcramer on twitter have a question, tweet cramer #madtweets. send jim an email at "mad money"@cnbc.com or gives a call at 1-800-743-cnbc.

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that's how xfinity makes tv... simple. easy. awesome. investing. the rules can be different depending on what age you are. nobody would suggest that a retiree pour all of his money into high risk speculative stocks or go all the way to zero and absolutely wreck your portfolio. but just because some of this sounds straightforward doesn't mean it's obvious or standard which means this is why i'm taking the time to go over the

important differences depending on where you are with your life cycle. i always tell you you have to have two discreet piles of cash, your retirement portfolio and then your "mad money" portfolio. no matter how old you are, retirement objectives must always come first. i love to play with the discretionary "mad money" side of things. that's what this show is about the truth is a bet on your retirement is a bet on your longevity. you want to live for a long time and you shouldn't have to work your fingers to the bone that means planning for retimer from the moment you get your first paycheck regular viewers here know my rules. no matter who you are, the first $10,000 you invest into markets should go zrat into a low content index fund they're a fabulous way to get exposure to the stockmarket's gains without putting in the kind of time or effort that's

necessary like we do around here picking individual stocks. if you don't have the time or inclination, then all of your stockmarket exposure can come via the s&p 500. i'm fine with that there's no reason this needs to be incredibly complicated. it's very important that you get yourself some exposure to the market because no other asset class can you away your wealth than equities do once you save, that means you have enough money to start your diversified portfolio. remember, anything left, you're not really diversified you take that money and invest it in your individual retirement portfolio. it's only when you save a large enough amount of money once you max out if you have one that we start talking about that discretionary portfolio where you can afford to take more risks. i want to take this point because a lot of people are like, i want you to bid in individual stocks.

that's just wrong. index funds and then individual stocks now, when you're young, it might not look all that different. they can afford to take all sorts of investments that's true for a host of reasons. when you're in your 20s or 30s, you've still got a lot of time to make the money back you've lost your whole working life basically years and years and years of paychecks. however, if you're pushing approaching retirement and you lose a fortune in the stockmarket, that's a real problem, and you're going to have very little time to fix it, which brings me to my first rule of generational investing. not only can younger people afford to take risks with their money, but those of you in the oiler demographic, it's imperative you take those risks. you shouldn't go crazy that retirement portfolio is absolutely off limits but you

should invest some to betting on these high risk long shots i know i'm out there saying this stuff, but i believe in this i'm talking about smaller well less known companies coupled with enormous downside risk. remember, this is for the younger part the classic examples are the biotech stocks which can fly through the roof or even a piece of positive data on a drug that's years away from hitting the market of course, by the same token, they will get slammed if there's any negative news. they don't have any kind of dividend protection or even earnings protection. however, we're talking long-term protection, regardless of whether we're in a bull market why do i insist that younger investors speculate, take risks that might scare older people because the gains here can be

absolutely stunning. ♪ hallelujah >> and it would be downright foolish. when you're in your 20s and 30s, you should be investing like a young personi, not an old man that means you should be taking a few kinds of risks when "mad money" came on air back in 2005, our first interview was with someone from generon. since then this company's become a power house with the stock taking it off into the stratosphere continuing to roar in others fast forward to 2015 and regeneron stock had traded up to

$592 before it got slammed by a marketwide selloff for the sake of using round numbers, for example, let's call it 5 bucks regeneron, 5 bucks what would happen? how about this a gain of roughly 9900%. no a double, not a triple, not a quadrup quadruple. no regeneron is it. you had only the promises of a ceo that things would work ow. many similar small caps have done nothing or lost you enormous sums over a short period of time or longer time. you won't always be able to identify who the winners are in this kind of space that's okay as long as you cast a wide net

if you had taken a small position, i would say neighbor of them would have gone to zero. as long as the tenth one was regeneron, you'd still make a demonstrative gain it absolutely belongs there. the risk/reward of trying to find the speculative winners absolutely makes sense when you're young for older investors, it's a riskier game i only recommend playing it with excess cash you can absolutely afford to lose be young enough to take a hit. as long as you're disciplined. as long as it's not your retirement exposure, it's absolutely fine to hunt for something like regeneron much more ahead. stocks or bonds. the age olde wisdom you've learned is wrong, plus i'm about

to rewrite script. it's the most important piece of financial advice i can ever give you. many of you will have to take action tomorrow. don't miss this. stick with cramer. "mad money" is not a show about picking stocks for you it's a show about empowering you to think for yourself. >> this is bill from new york. jim, thanks so much. >> hey, jim. this is curtis from north carolina i want to say thanks for creating "mad money." >> the man, the myth, the legend. >> the wizard of wall street. >> i'm from philly and i want to give you a good booyah. >> you are the reason why we do this

it's time to address a major issue. it i'm talking stocks versus bonds. there's a good reason you don't hear me investing in bonds very often. it's not because this show is about stocks the fact is ever seasons the great recession, interest rates have been held down to incredibly low levels and therefore bond levels you get from owning u.s. treasuries have been absolutely paltry both by historical standards and from what you can get from safe stocks in general, even when the stockmarket has been getting absolutely pounded, bonds simply haven't represented very good values versus equities that's why i've so often castigated you about the idea that excessive prudence can be the most reckless strategy of all because if you invest too much of your money in safe virtually risk-free u.s. treasury bonds you've been ensuring you'll get a very low return on your

investment for many years to come all in all, if you want to grow your capital, after all that's what investing is supposed to be about, that that''s what i said before however, i don't want to make it sound like i'm pooh-pooh'ing bonds all together there's absolutely a place for bonds in your portfolio. it's an essential place, especially as you get older. here's the crux of the issue though even though stocks are the best way for you to grow your capital in the long term, even at moments when treasuries are at low levels, at the end of the day, theory about two entirely different things stocks are the tool you use for capital appreciation meaning turn your money into more money, but bonds are all about preservation they protect it and give you a small return that's still big enough to offset inflation for the most part. you invest in stocks so you can

risk your wealth for greater wealth you invest in wonds to protect whatever part of your wecht you slim can't afford to lose. there it is. when you're young, it's about taking risks i've already explained how people this their 20s and 30s can get away with that attitude because you have the rest of your work/life to pay back any potential losses but as you geld older, you'll have more and more wealth you can't afford to lose, especially in your retirement accounts. u.s. treasuries are the closest thing to risk-free investment out there. but you need to own a lot more bonds a lotterle ler in your lifetime that i think is truly necessary. you'll never get rich with u.s. treasuries their lower terms don't produce

much in the way of capital appreciation let's say 30-year treasury bonds are yielding 3.5%. that's higher than the 2.5% we saw in the first months of 2015. as long as you invest your coupon payments back, you might double your money in 20 years. remember the average historical return for the s&p 500 is 10% annual annually, which will let you double your money in a little more than seven years. if you're under the age of 30 and you own a bunch of bonds, i think you're being way too cautious i know it puts me out there. but you know what? i've been around that's how i feel. even your 401(k) and ira, you want to be heavily weighted.

allow your taxes to compound year after year. unlike the stockmarket where you can lose enormous amounts of money in the blichk of an eye, bonds are safe once you use the stockmarket you do want to funnel more of your money into u.s. treasuries i'll l ideally you do that. so let's get down to brass tacks. precisely how much of your retirement portfolio should you keep in bonds versus stocks? again, that depends how old you are. i'll give you a rule of thumb though i don't think it should have any exposure whatsoever until you turn 30. it's better to put your capital to work in the stockmarket where it can actually grow in your 30s, i'm going to let you keep 10% of your bonds or 20%. once you're in your 40s, i think

you can go up to 20 or 30% bonds. in your 50s. 30 to 40s and your 60s as you approach retirement age, already, take it up to 40 to 50%. that's rye now, even if you retire, i still think you should keep a substantial chunk in your stockmarket. you should increase your bond exposure from 60 to 70s because once you stop working you really can't afford to take too many losses with your investments especially since you're going to need to start spedding your money in your retirement accounts that said i think it makes sense even for a retirery. so some part of your portfolio should always be trying to create more wealth in case you live longer than you expect.

in other words, it's a bet against your own longevity here's the bottom line as a young investor, putting money in bonds is a fool's game, but as you get older you should increase it to the point that 40% or 50% will be protected against the volatility of the stockmarket. but even if you retire, you should own some stocks best case, you live a very long time and the extra money comes in handy let's take some questions. how about nesir in pennsylvania. nesir. >> caller: booyah, jim. >> how are you >> caller: i'm good. i'm a big fan of your show have your book love it. >> thank you. >> caller: how do i do that

given a core position. >> all right i think this is a great question a lot of people feel like they want to draw a line in the sand. they want to be in aposition where they got rid of it they bought it and put it away take into account human frailty. the most i ever like to buy at one point is half of my position i prefer to boo i a quarter. if the stock goes higher, what a terrible high quality problem. if it goes lower, you've got room to buy. i like to buy in stages. in all my books i talk about stage buying because i don't want to be overconfident don't you be overconfident do it in stages. brian in new york. how are you? >> caller: hey, jim. how are you? >> i'm fine. >> caller: i have a 401(k) from a previous employer and i'm deciding whether to put it in an annuity account managed by an insurance company or in a traditional ira. >> i want you to do it yourself.

you've watched the show. the annuities have fees. my experience has been that a lot of annuities that have fees that eat themes up maybe some don't, by i believe in self-directed investing when it comes to that if you have to, put it in an index fund ira lets you do that listen, investing in stocks and investing in bonds are two different things young investors, you don't belove in bonlsd still more "mad money" ahead plus, i'm not kidding around about this if you want to ensure a strong requirement, you're going to want to listen to my advice and take action tomorrow morning don't miss it. i'm answering the questions you send on twitter while. don't you stay on cramer

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tonight rather than focus on the vistitude, i royn't you to consider taking a 20-, 30-, 40-, or even a 50-year look regular viewers know my view no matter how den you are in a company, you need to keep checking up on it on a regular basis. although you can't pick a few stocks and ignore them, you simply need to zoom out a bit

and when you start examining stocks over a multidecade, one thing becomes readily apparent if you know what you're doing, a bear market can simply be a different kind of opportunity. that's right. when stocks are getting slamming, when they're getting hit everywhere you look, when they can't mount significant rallies, you have to recognize that you could be getting a terrific opportunity to pick up some high-quality stocks for the long run into the weakness understand i'm not giving you a license to buy stocks indiscriminately, but what i am saying is when you're faced with a bear market, let's use that as the parlance in the show from their highs and they seem like they could go even high eric then it probably makes more sense to start buying those stocks rather than selling them as long as you're willing to take some short-term pain for

long term gain of course, whenever you buy from a market, you have to be careful. that's pure arians ask your honors. instead leg into your favorite stocks finding small chunks on the way down humility please. in bear market you'll probably want to use wider scales meaning after you make a purchase, you want the stock to go down pretty meaningfulfully and substantially. over the very long term, you have to find you have to take advantage of an opportunity. but i need you to think longer term something we didn't do at the beginning of the show, but we're way past that now, aren't we you don't believe me look at this chart of the s&p 500 or the start of the fall in 2005 look at the hideous declines if you use that weakness to very gradually build a position in a cheap s&p 500 on the way down, in a couple of years, you've

made a nasty killing by the way, this is why warren buffett always seems so sanguine when the market is getting crushed. he has enough money to afford to take any level short-term pain in order to get his hands on long-term gain if you need to be up for the year or the day for all that matter because investors will flee your business, then you cannot afford to approach a bear market as an opportunity so read confessions of a street addict when things got tough for me however, i was able to pull out of a tailspin. the vast majority of you are not running hedge funds. you don't need to make money every day or every month or every year what you need is to rake in multi-year gains over a lifetime so you can send your kids to

college. again, this is not an excuse to hang on to loser stocks of loser companies simply because you hope that you hope one day eventually they'll turn around my point is the ugliest markets that send everything down, the good with the bad, they'll always create opportunities for smart investors as long as you're patient enough to take advantage of them slowly because if you pounce too quickly, you'll end up buying too close to the top the other caveat, you have to be careful. do the homework. make sure you own the stocks of companies doing well or at least the companies doing okay but could do better in a stronger environment. during a bear market you must absolutely not buy the stocks that are right in the blast radius of whatever's causing the decline. think of the banks in 2008, 2009 that started going down literally in the fall of 2014. you don't want to own the companies that are causing the weakness instead you should search for

collateral damage stocks simply because they're being taken lower by the s&p 500 futures if you own anything in the blast zone, please don't hesitate to sell, sell, sell and swap into something that's safer one very important point if you want to take advantage, you have to have some cash on the sidelines in order to make your mirror otherwise you'll just be shuffling money in different stocks all of which are going lower. that's why i'm adamant you always have some cash in your portfolio. the better your market is doing, the bigger that way when things inevitably go wrong, you'll be able to do that here's the bottom line when you approach the stockmarket, you'll have to remember the big bear market declines can turn out to be excellent buying opportunities as we've seen since we started the show as long as you only purchase high quality

merchandise in small increments on the way down. stick with cramer.

all night i've been telling you how to manage your money when you're young, when you're middle aged. haven't you heard 60 is the new 50 and even once you retire

but there's another aspect of generational investing i've god to stress here that's to get your kids to manage their money and learn more about the stockmarket i say this to parents of children of all ages while i love the public school system, you can't rely on them, even the private ritzy schools to teach your kids about saving money. the typical high school can teach you french, spanish, and the more fancy ones can keep you chinese. however, if you want to teach your children to be fluent in the world of finance, you have to teach them yourself it's like beneath most your typical high school health class will teach your kids how to put a condom on a banana, but no one will explain why it's

dangerous to have an outstanding balance on your credit cards at most teachers of higher education, students get bombarded with credit card offers that can seem irresistn't. i took down five of them throw in thousands of dollars of credit card debt on top of student loans, and they can be in the hole for decades which means you as parents will need to bail them out we don't want that raising financially responsible children isn't just about being a good parent. it's about not being hit up for cash every month even when your kids are well into their 30s that's why if you want your kid to learn about money, then at this point you need to do it yourself that means you need to have some long boring conversations about the dangers of high interest rate debt like the kind anyone can easily rack up on a credit card and they need to save money coupled with the power of compound interest for generating wealth like we talked about earlier. but in my view to make this go down is with a spoon full of

stock-picking sugar. at a very early age i recommend giving your kids gifts of stock. my classic example, i've been using it since the show started is disney. give them a couple of shares a year for the holidays starting when they're old enough to appreciate the big movie franchise and because disney has so much going for it, so many block buster films planned over many, many years in the future, not to mention the terrific theme park business, by the team your kids are teenagers, i think their disney holdings will show a nice gain. there's nothing more powerful than having your kids invest and follow it along. as much as i like disney, you don't have to go with mickey mouse. it could be any company. here's the bottom line the point in getting your kids interested in stocks early is you need to teach them a better

way to think about money you want yourchildren to learn money is something that can be saved and invested, which creates still more money at the earliest possible age. look, if you don't want to do this for your children, do it for yourself because kids who can manage their own finances are kids who won't be begging you for mullah even after you've gone into retirement stick with cramer. the earnings are relentless, but cramer has burned the midnight oil, and he's ready to run the gauntlet all week cramer sits down with some of the market's influential sea sweep players. join "mad money" for must-see interviews you can't afford to miss jooirngs so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally discovered in jellyfish, prevagen has been shown in clinical trials

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okay it's time for me to check out the twittersphere and take look at what you've sent to @jimcramer. first up we have @fridge '93 you talk about research. what are the pieces of information we should look for when stock pick. the first is i want you to know the product. i want you know what it does and like it. a lot of times stocks go down after you buy them and if you like the product, you'll be more inclined not to panic and get

out. after that you can get rich carefully. i tell you how to raid a stock you can do it on a numbered basis and figure out where should stan versus others, but you've got to like the company first or i promise you in the first big selloff you'll become a seller, not a buyer. i don't want that. okay the next question is from patrick. it's sutera. @patsutera for retirement is it best to dollar cost average index funds or wait and buy. >> i would excaccelerate some i would do later in the year and put them to work in that break, even up to a third of it in other words i like to take advantage of the declines and

accelerate what i've put in. i've done that for years and years and that's worked for me next up is larry blumon. he said, what would they do without cramer my wife said the same thing. look i'm a teacher. i've got some books. what would you do without yourself this is about empowering you a lot of people look at the show who haven't watched it over the evolution and say all he does is tells you to trade in and out of this or that i hope that you know it's the opposite longer-term investing is the way to make money, index funds and then "mad money" and doing home work and trying to figure out how to do it yourself. last is jeffrey hope @jim cra r cramer jim, would you mind sharing your

sunday stock, please i get this from standard & poor's it's hundreds and hundreds of charts i go over each one i have a file, good, bad, question mark, try to figure out why that went up and story idea for show i write down each one and where they are and where they fit and then when i'm done i tend to do a miss for real money, a long piece where i look at which trends i see and then for the rest of the week i send my staff which stocks i don't understand and why and some theories about why we should be doing certain pieces and it takes up almost all sunday except for when the eagles are playing stick with cramer. (drumsticks clatter)

i like to say there's always a bull market swrchlt i'll promise to find it for you on "mad money." i'm jim cramer, and i'll see you

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