soldiers like him. building homes for heroes.org. you will see the donation. anything you can give, we will be so appreciative. liz: gerri willis is next and she says the holy grail for connected consumers. gerri: that's right, congressman you come up your phone and also coming up up, one social security isn't enough. the planet some states are pushing to fill that gap and also it's your global warming update. and it's one of the coolest summers on record here in the u.s. and are you driving or drinking? we will show you how to spot the real deal when you buy wine. "the willis report" starts right now. gerri: we begin with top headlines affecting your bottom line.

the latest reports on american wages painting a grim picture of a recovery five years in the making. the typical household words a third lesson was 10 years ago and many of the countries most popular companies are offering some of the worst retirement plans on the market. we are covering your assets tonight. pete crowley, mitch tuchman who is a manager director and a nationally syndicated consumer expert and host. welcome to each of you. it is great to have you here. starting with these numbers that blew me away over the weekend. net worth perceptively down $32,000 in just the last 10 years. this is not good news out there. his talk to a lot of people out there and you're hearing from consumers all over the country. is that what you are hearing? >> it does make sense and the reason why is that consumers in

the middle have all of their wealth tied up in housing. when the housing market greater, so did the net worth and the reality is if you live by the house it doesn't get the job done and you have to save for retirement and tax-free retirement accounts if you really want to see your net worth go up into stable kind of way over time. >> you look at the income and it's still not ready for news. so this is according to the label -- labor department. so what is behind these numbers? the declining status of middle america getting squeezed. you talk to americans and advise them. what are you hearing? >> we hear that people jobs are being threatened obviously by productive technology that is

making people, you know, their jobs are being taken away and things like that. but most of the people we speak of are those who are retirement investors in a bar in the top half. he mentioned write-down in the middle in the terms of housing. the people who are leaving money in the 401k accounts are the ones who really need to think about how they are investing their money and there's a group of those that are halves and groups that are have-nots. and so those people are actually a divided nation. gerri: what needs to happen? we are talking half are above, half are below. so what do those folks need to do? >> you can't get to the press

about the macro. the news is pretty bad. home equity was wiped out, it went from 40 hours down to 30 hours or less in some lost their jobs completely. so we look at this and try to be optimistic and put things together so you're saving at least a little bit more and put something away, the other half dead midges talking about, the people that don't have much money right now can't pay their electric bill and car payment on time, they can still save as a discipline themselves. ten or $20 a week away and do it to save. gerri: one-way that you could save more is work for a company that has a generous retirement plan. we have an incredible story

about the companies are at the top of the list and the ones at the bottom of the list with terrific retirement plans. conoco phillips and boston scientific, taken a look at back, the company matches and it's pretty generous. do you see lots of differences in your business depending on where someone works or spends most of their earning years? >> yes, we see tremendous differences in those who have generous plans take advantage of matching funds and if you don't take advantage of those plans it's just like money falling out of the sky for you. but also plans where they offer low-cost conducts funds, they can literally eat you alive and if you don't have low-cost funds, you end up losing two or 3% in fees. it's a lot easier to get figure out because the department of labor is making it mandatory

that the plans disclose what the fees are. so for the first time investors can learn about these lower fees and it's a big difference today. >> covering the worst retirement plans, there are some famous companies own hair. facebook is leading the pack. all foods, they say that they are really nice to their consumers. always thinking about the little guy. they're on the worst retirement plan last. is facebook catering to the people that work there and probably they are young and may not care about retirement plans. >> i find again and again that start up of young companies and facebook is a combination of those two, they've never really devoted the proper attention that they are giving their employees a good retirement plan and i don't think facebook said with a we can come up with the worst retirement plan ever for

employees and if you as an employee see that your employer has a plan, it costs you more than 1%, putting into your employer plan only up to the max and then setting up your own roth ira with an ultra low-cost providers are so you are getting the most efficient savings that you can for your retirement. gerri: the tipping point is 1%. these are over 1%. >> well, for me it is half a percent and i'm trying to be generous because a lot of people are paying more than 1%. but i like for people to be in a plan that costs less than half a % sputum initially the difference between a bad plan and what it can cost you over your lifetime if you're working for a company and it cost you too much, $870,000 nearly a million dollars a year losing to see his.

so that is just not acceptable is that right? >> we've talked about a concept that went away in the 70s. depending on your employer fixing your retirement for you. i like the do-it-yourself aspect, having those iras set up as individual retirement accounts. because you'll probably have for five or six jobs in your lifetime. and not a lot of job creation there. gerri: there's a lot of government led solutions. and we have a lot of economic news coming up we have gdp and

we have employment coming out in a lot of things going on. you think this will be a good news week or do you think the economy is teetering out? >> are not going to like my answer, but unfortunately i don't have a lot of opinions about that and there's a good reason or that area even if i did, about half of the forecast and even the phd economists have are incorrect and i believe that. gerri: that's a really good point and we will leave it there. we will see how it unravels and we will see what the economy is doing and we won't take any bets from the economy. thank you for coming on and it's great to see all of you. gerri: if you're looking for more advice, "the willis report" money coach will help you. visit my website at gerriwillis.com and e-mail me all your money problems.

and still there's a lot more to come, including her voice that is important to us. that is why i want you to facebook me or leave me or send us an e-mail at gerriwillis.com. at the bottom of the hour i will read your tweets in e-mails. and find out why most of the u.s. is having a cool summer. plus, good news for smartphone owners and how washington can help you score more choices when it comes to your carrier. stamps.com is the best.

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gerri: good news for small phone owners. congress has approved a cell phone users to unlock their device and use it on another provider's network. here we have our editor at large with us. lance, explain this to me. first of all, unlocking your cell phone is in a league as it sounds. >> it means that consumers have choice.

and you can't go over to another carrier at first because of lofton, but now you are able to switch if you want to switch. but don't forget that if you switch carriers come in to have to pay off that phone. it's the one that is expensive as well be my guess, those phones can be $700. but if it ported under another network you can take it over there. if you go to europe and you need to use one of the cheaper but compatible services. gerri: if you move across the country, let's face it, your service may no longer exist.

>> the phones are still dead and you want to be able to make the switch and this is going 3 >> the phones are still dead and you want to be able to make the switch and this is going to allow you, let's say you want to hinder phone to your child, they can do it and it makes it easier. but keep in mind what is changing anyway. all of these carriers are stepping away from the idea and t-mobile is constantly advertising and there's never any contacts. of course you pay considerably more for that phone. gerri: okay, the landscape is really changing because the carriers got together and said, okay, we see the handwriting on the wall. and the white house got over 140 signatures and people requiring this. but it's not a done deal yet. the president has not yet signed and so it's not quite done yet. but we expect it to be. so where is all of this going. >> at the end of the day that we

know that the providers, they had a financial incentive to keep you in the plan because if they pay for the phone. but it seems like they're going to be looking for some other source of money. >> this is with a what's a little scary. if they think that they will be losing money because they have you locked in for two years, not just the cost of the phone with a monthly service fee, they might raise their fee look for other incentives and part of the name of this active complication is something that has the reverse effect occurred encourage some of these guys to lower some rate or create better deals. at this point i believe having the freedom. gerri: at the end of the day,

freedom is important. tablets and other wireless devices are important. >> the languages is part of this. i think they are covered, and makes sense. and it's kind of the typical usage scenario. gerri: thank you for coming on the show smartphones and other technology in the update. lucky charms may be magically delicious. but some are not leaving the store shelves anymore. sales down. number four is my best effort, despite my best efforts, fewer

americans playing the game. dick's sporting goods said sales were down 10%. and white bread, that is right, time magazine pointed to one survey that says more than half of americans say that they are cutting back on bread, especially white bread and even restaurants are getting rid of bread. and number two is gum. sales have dipped due to competition and the number one thing americans are not buying anymore are convertibles. businessweek says sales are down 44% and now we want to know what you think. here's our question tonight. have you stopped buying white bread? vote on the right-hand side of the screen and we will share the results at the end of "tonight show." and at the bottom of the hour comes out latest projections for the future of social security

and medicare. plus, the coolest summer read the lowest temperatures we have seen in years as long as i've lived in iowa, there's always been wind.

(strauss' blue danube playing)

gerri: we may have a new storm to watch for for the next five days or it there first, cooler weather this summer's happening trend. joining us now, you are one of the few people who saw this coming. can you tell us how you figured it out and will it continue? >> we had a very cool winter

forecast. this year we had a garden of eden summer forecast. i think you are seeing a turn out that way. of course even in the garden of eden there were a few bad apples. we have had some poetic activity and even though tornadoes are 15% of normal this year for the entire year, you do see the weather occasionally flare up in the big story is the lack of heat this year. and that is a very positive effect on much of the united states. because you pay less in air-conditioning and we heard her story about the corncob coming in and it is a very positive year as far as that is concerned. gerri: i was going to ask why and i think that's where you were going. >> we have a null neo- year coming on. a lot of those people see the

global temperature spiking so high. instead it's much like what we saw in 2002 and 2003 and most recently 2009 and 2010. if you remember, 2009 was a very cool summer and so it's not exactly the same but similar and so we analyze this according to a flowchart and you can always do this or we are in a particularly good time for seeing the weather move along and we are seeing a cold and snowy winter on the way again. >> i hope you are going to say there was a snowy winter coming up, but you say there's a wildcard? >> has come in the wild-card is hurricane season. even though we believe and we said this back in april that it would be less than normal

activity right on top of the united states coastline. and keep in mind in 1950, we had five major hurricanes of the east coast and it wasn't that the numbers were jacked up but that all the activity was in the western atlantic. but when you see what happening in climate, you can see the slow moving along in the business aspect of this upcoming winter, we are in trouble if we have a cold winter because i know people in the electric grid have a part of this. gerri: let's get back to weather. you say that there's a big storm coming in five days? >> we may have a tropical cyclone moving into the caribbean and then we will have

to see whether it will toward the united states. we are getting into august. but we are looking at the kind of pattern that is conducive for storms as they get close to the u.s. coast. the tricky thing is that this time of year they don't like to make it across the caribbean. and they don't tend to develop once they're in the caribbean. so it's a tricky situation. and it's going to remain cool in the central part of the united states and that is the type of thing where you have to watch for that hurricane season to ramp up not just big numbers but bang for the buck. >> thank you for having me stay on coming up next, how long will social security and medicare last? the new result of her work. since many of us cameras to lie on uncle sam during our golden

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gerri: well, you know social security has long been called the third rail of politics. touch it and you die. how much danger are we really in tonight we have the latest numbers from washington. >> reporter: we will talk about medicare. the annual trusties' reports the both medicare and social security came up to date. my bedtime reading tonight. so exciting. now, the reports of the trustees said that the social security trust fund will be exhausted and 2034. that is one year sooner than the projections in last year's report. the medicare trust fund that pays for hospital care will be exhausted by 2030, four years later than last report projected

a combination of factors. disability insurance, big program as social security to a projected to be exhausted 2016 just two years from now because of sharply higher claims on the new long release on medicare, the trust fund projections are a volatile year to year. one recent report of years back predicted the medicare trust fund will be exhausted by year's faster. run trust the, don't be too excited about the new projections. >> i count myself among those who is cautiously optimistic that the recent slowdown in growth the per capita health spending will continue. our latest projections still indicate that medicare spending will grow faster than workers' earnings, retiree income or gdp in. >> reporter: all the trustees said that in the long term all of these programs are

unsustainable and that they need to be reformed. gerri: here is the million-dollar question, how do we fix this? >> first disability insurance. congress and the white house are working on legislation for a short-term fix for that but it has to be fixed longer term. for social security and medicare higher taxes and lower benefits or a combination of both. even if the trust funds are exhausted, that technically means they run through all assets which are mainly government bonds. there would still be payroll taxes coming in to keep the programs going. with automatic cuts to benefits 15 to 25% depending on the program. don't worry. when you turn 65 in 35 years there will be something for you in social security and medicare. gerri: welcome my hopes up. peter, thank you. well, i think that saving for retirement is like slauson. we are all supposed to do it.

not everyone does. some states want to have a hand in whether you're putting enough away for your golden years. is this best left for the private sector? david certain from aarp. welcome to the show. still as of this work. >> basically we are using states to help facilitate more savings by individuals. states working in partnership with employers to help get the almost 60 million people who don't have access to a pension plan to contribute more to retirement savings program generally directing that money to an ira. it is state-by-state facilitation and encouragement. gerri: social security, is this going to replace social security cannot add to social security? >> i would call this retirement security. social security provides your basic foundation, but we want to encourage people to save more. and this is trying to get at

those 16 million workers who currently are not saving for retirement through work and, quite frankly, the average retirement savings amount is less than 25,000. we are grossly under saved as a country. gerri: a lot of people believe we are woefully under saved, but it is still a debatable topic. help me understand why we need another vehicle. we have the ira, the president's my ira program. there are a million different ways to save. why do we need another? >> it is not so much creating another vehicle. will we are trying to do is help encourage people to join those existing programs. we know that the best way to do that is to have payroll deduction at work. if you do it on a regular paycheck by paycheck, that is the best way for most people.

we want to harness that power and gated to the existing vehicle and have the state's work with the company's to basically make this happen and give more people are involved. gerri: the last part is the one i have questions about. we are going to leave retirement planning up to elected state officials? is that a good idea? >> it will be a state decision. employers will be setting plans up, sending this money to a private institution and have the option to save, but this is the way a facility five a way to facilitate savings and make sure we get as many people as possible. gerri: state governments would be making the decisions. >> no. to the states serve as an oversight function and facilitator. setting of the plan and directing the money.

again, different states are looking at this differently. basically the idea is to make sure that if you go to work as an employe you know that you will have a payroll deduction so they can have some money taken out of your paycheck them have been sent to an existing retirement vehicle. the states will facilitate that and provide oversight. it is great for the employer because it is simple and easy. simple and easy for the employee because they have a deduction vehicle at work. gerri: they still have to check the box. they don't take advantage of what is already out there. is there a match? >> two things. you can actually set it up so that is essentially in airshow works in favor of the employee. in other words, you have to check the box to get out. it is still your choice.

and and and. gerri: a lot of people think that is a good idea. force people to make the right decisions. it's a great debate. force people to be responsible for themselves. >> we have gotten a lot of success out of this and the private sector through retirement plans that have adopted automatic enrollment and the fault investments of getting people moving in the right direction. it is still their choice. individuals can still make decisions, but it helps people. gerri: thank you for coming down and telling us about this. appreciate it. now we want to hear from you. many products may soon go the way of the dodo bird. have you stopped buying these products? here is what some of you are treating me. one of your rights, i don't remember the last time i bought white bread. tom agrees, i stopped eating white bread last -- lost

15 pounds. i love that. and sure enough facebook says the same thing. julianne is sticking with what she likes. white bread is awesome. i did not say it was healthy. here are some of your e-mails. the ongoing problem which we have covered extensively. the veterans affairs to permit should be privatized. obamacare will be even worse when they force everyone into it . the list is endless. if not for the billions in tax dollars a waste nothing would even look like it is working. thaddeus from indiana weighing in on the white house student loan forgiveness plan. a big now to health student loan debt. larry from texas agrees, when the federal government pays student loans to bad things happen. one, colleges will continue

raising costs, and to, students will have zero incentive to choose frugally. when we come back a warning before you drop a lot of money on that next bottle of wine. trying to find the right doctor for you and your family is sometimes harder than finding mr. right. you're much needed advice. here is your consumer gauge. we will be right back. she inspires you.

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but they have to use special care in keeping the denture clean. dentures are very different to real teeth. they're about 10 times softer and may have surface pores where bacteria can multiply. polident is designed to clean dentures daily. its unique micro-clean formula kills 99.99% of odor causing bacteria and helps dissolve stains, cleaning in a better way than brushing with toothpaste. that's why i recommend using polident. [ male announcer ] polident. cleaner, fresher, brighter every day. gerri: finding a new doctor is a big headache. while many of us consider insurance and bedside manner, that's when it gets tricky. here with advice, ceo and founder. welcome to the shelf. good to see you believe i wanted to start with a poll that came out today is. people say they choose a doctor based upon bedside manner which

seems to me to be not enough. >> it is a very interesting question. ideally we pick our doctors based on the outcomes. the problem is that health care is so specific. the sample size is so small. it's difficult to get enough observation. gerri: where would i get it anyway? that's the real problem. you don't have access to the kind of material the government asked. >> is true. and it's difficult. gerri: who succeeded and who failed. >> exactly. even the definition, dining and living is a simplistic way. people don't necessarily even agree. gerri: i'm sure that's true. gerri: people say they look at this one thing, how do you treat me, are you nice to me. it seems to me you need to think about other things. >> the reason it is a board is in talks about the doctor

patient relationship. where it is important is if you like your doctor you are more likely to not eat those fatty foods warrant exercise the extra time so there's been a lot of correlation down comparing bedside manner to overall outcome. it's a pretty good proxy. gerri: a lot of people call it -- the call relatives, friends and family. that may not be the best answer either. tommy what it does that maybe is available in the market. there's a lot of interest in this market place, helping people find doctors. how are you different? >> firstly, we enable people to book their appointments. you can sort from a broken appointment in -- instantly. what that enables us to do is have a closed loop system. another you actually went to the doctor. it is not someone at the front

desk or the doctors on competitor. it's actually a verified patient gerri: this is a highly contested issue. especially consumer websites for travel or eating out. who is giving the review, where does it come from. people don't know. how do you guarantee that i am not reading a review? >> we know that the patient had said about the review in order to leave it. in doing so we have to verify the patient is an actual of human being. we have a bunch of techniques that were used said no it is an actual patient. gerri: let's talk more about finding a doctor on line. online reviews was recovered, but you say a fair rating system stars or doctors. he said the not just look at the ratings. >> you want people to read the reviews.

osmanli different types of doctors are great for different types of patients. we had one doctor who had a pretty terrible reviews. he was not friendly. we thought, this guy will never get another one and again. low and behold, he got a lot of appointments. we started to read the reviews. we realized what they said was the doctor is not interested in asking, did was to be read a lot of people don't want to be talk to so different types of doctors for different people. gerri: the other point you make is be aware of all wires. it is true that different people have different tastes. what should i be looking for when i am looking for a doctor? obviously we talked about that bedside manner says, accreditation. >> well, honestly if you're going to a specific specialty you want someone who is board certified. one of the things we do is

qualified to make sure doctors are board certified. obviously you want to know they have a license in good standing. some doctors may be on probation , still be able to illegally practiced medicine. part of our qualification process. gerri: your screen? >> we absolutely do. gerri: interesting. it's a hard thing to do because there is no test that you can take. it doesn't work that way. thank you for coming on the show. gerri: time now for a look at stories you are clicking on some nights. it is merger monday. zealotry announcing it was buying family dollar. expecting to close early next year. and real-estate website zillow is buying its competitor in a three and a half billion dollar deal. the combined company will keep both brands. shareholders still have to approve the deal. more bad news from the housing market.

thinning home sales slumped more than 1 percent and are down nearly seven and a half% from a year ago. sales have been slow. in stocks are starting the busy week of mostly us to the mostly higher. the market is on track for another positive month. those are some of the hot stories right now on foxbusiness.com. still to come to my "2 cents more." next, how did you do that. plus, some advice for the wino wanna be. stay with us. ♪

we never thought we'd be farming wind out here. it's not just building jobs here, it's helping our community. siemens location here has just received a major order of wind turbines. it puts a huge smile on my face. cause i'm like, 'this is what we do.' the fact that iowa is leading the way in wind energy, i'm so proud, like, it's just amazing.

♪ gerri: how do you know that that nice bottle of red is what you paid for? a wine funster convicted last december for selling millions of dollars of fine wine concocted in his home kitchen and passing it off as rare vintage. how can you avoid being a victim of wine fraud? with joining me, founder and ceo of wine awesome this. so thank you for coming in. very good to see you. let's start with counterfeiting. i did not know this was an issue you by wind all the time. are you *? >> the first issue if you're looking for it is from high end collectors a looking for very specific wine, lines that are tied to vintages that are 20, 30, 40, 50 years old. there are looking for very specific things, and it's a very specific electric. in the first thing is the price

point. something is too good to be true, if you are spotting a $10,000 value bottled someone is trying to hawkins to you for cheaper it is probably too good to be true. gerri: in my mind i equate high price with a great bottle. i am that simplistic. is that the right thing? >> a lot of studies, of research that goes into a blind tasting that consumers and very, very expensive taster's can't tell the difference between a $15 a bottle which is something you might find compared to something that is a high price to vintage from burgundy or borel. gerri: your website is open to the world. a variety of priced wines, not super expensive. >> our site is for everyday consumers to impress someone at their house, a dinner party, a gift for a wedding. it is basically a cool way to learn about wind.

gerri: you mentioned prices. we were talking about spotting a fake of their reuse said the deal is too good it could be fake. what about the label. >> the label is important. a lot of the stories we have been talking about, apparently a big deal is taking elmer's glue to put on the bottle. the glue residue stays around the label. that is an easy thing. once again those are really, really high-and bottles that are rare. gerri: that sophisticated. >> that sophisticated. gerri: what about the geography? >> release specific. piedmont, northern italy, champagne, obviously these relief famous regions have brandon have been around for a long time and tend to be worth more money. gerri: to try to pass it off as something you would want. the very expensive burgundy. >> burgundy, champagne. these regions that have been

producing a wine for hundreds of years. a lot of investors and collectors are interested. gerri: and vintage, of course. how did these rosters tried to faq without using vintage? >> one thing people think wine is sold, it must be good. that is another misconception. another big thing is anything after 1980, there will be more ways to detect if it is where it -- real or not. anything past 1980 will be harder to authenticate. gerri: very interesting. thank you for coming on. i love the name of your company. the right back. have you stopped buying white bread? stay with us.

when folks think about what they get from alaska, they 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. that's not a coincidence. it's one more part of our commitment to america.

gerri: we talked about good flight rad and other things that have gone up and costs. while gerri willis for online question. finally tonight, good news for consumers. we have talked at the top of the show about congress finally allowing can race to unlock their cell phones and switch service providers. that is the good news. now, that doesn't include a service for tablets. and after that, that's great news for people who want to change providers and the rare win for consumers. that's my "two cents more".

have a great night, charles payne is coming up on his show "making money with charles payne" ♪ ♪ charles: tonight on "making money with charles payne", is minimum-wage really the same fight as the fight on civil rights? this wage fight is getting out of hand. we have more on pulling oneself up by the bootstraps. and the idea that expensive consumer goods is just as much damage to the notion that young americans never learn right from wrong. we are going to take on both sides of that coin. also, this is due tweaks for