♪ the sharpest minds on "wall street" need to get behind the headlines and prepare you for the week ahead. this week we are changing directions and focusing on personal finance. we begin with what we think are

the most important things you should do to minimize before the end of the year. evaluate your portfolio and examine your charitable giving. the round table tonight, work, katie hill and jack. jack, i'll start with you. you like hsa, talk about it. >> the dumbest financial product conceivable for your health. you can save a few bucks but you have to guess what your healthcare will look like. will i fall down the stairs next year? i don't know, you're supposed to put enough money but not go over, it becomes like "the price is right". >> if you don't spend it, you lose it. >> health savings account is a totally different idea. healthcare could you make you more if you are not careful. it could you make you well, which. i think this is just about as

good of a deal for a working per-person as a 4o1k. it's free money, you're dodging taxes right away. it's great for people $7000 a year, over the long-term, you have to be someone who has a high deductible health plan which means you will spend on healthcare. let's say your deductible is $6000, you have to write a check up front for that money if you have that healthcare. if you are that person though, it's a really good deal to stash money and you don't have to spend it on healthcare right away if you don't need to. you get a growing tax-deferred throughout your life. >> you can use that money to pay your bills through the year end it's tax-free so instead of, you've got 100 cents on the dollar. >> flexible spending should have been, the improvements are made. >> here's the neat thing for a younger person working, you can invest that money, it will grow over time and when you're old, you can take it out, tax-free.

order million dollars in our old age for healthcare, this is a nice way to start especially if you're young, you have a long path for money. >> you know when you're old, you will need healthcare. it's like a healthcare 4o1k. >> there are no means are people that have fsa, i know you don't like them but it is use it or lose it money. people just leave it there and not do anything. that's ridiculous. you can go to the doctor or other things -- sunscreen, that's a good one. parents yell about politics at the table, you will be glad but there's a lot of things. pillboxes and cutters. fsa stork.com, easy way to look up. it is use it or lose it. >> your 19th pair of eyeglasses, i didn't realize sunscreen.

maybe i will buy sunscreen to go outside. >> you will be mentally sharp. >> that will explain the sinus medication. let's talk serious investing. tell me, i don't want to sell losers. >> it's a big way to turn them into tax money, basically it's a strategy where you sell your hoosiers and the investment you made, you can essentially diff differ, you defer it down the road and place that with an asset that is not substantially identical to the one you just sold but you will get people to watch that. >> you don't actually have to but if you want to maintain your exposure to the market -- >> usually that's what people

do. the strategy is basically you sell your losers by if you want to maintain exposure, think about this, they will continue to own something that's been beaten down if it's long-term, you have it for that company. >> i ran a screen today of 500 stocks that are done, there's barely 50 that are down this year so far. if you have -- everybody makes mistakes. if you're loaded up with losses this year, turn your money over -- >> you might mount on energy stock, sell that, by the energy idea and if 31, but you've have to tax that. >> you're right, you have to itemize to get that deduction.

people are itemizing because of the new tax laws. one strategy is punching, instead of doing tiny donation, you can to a larger donation every few years which would allow you to itemize. >> you one people they should be careful about who they get to, if you have a call you love, you are probably giving to that cause but don't just give to th. >> make sure your dollar has real impact. give.org, there's a bunch out there. triangulate that and make sure what you are giving actually has impact. >> finally, if you have a lot of money to give, one way is a donor advised fund. >> that is certainly a good way. you get the tax deduction that year. >> the money keeps on going and you can decide over the years had to give it out but it's a

certain amount each year. >> some people are like i don't know who i will give back to so that allows you that way. >> coming up, there are gifts you can give to help improve the financial lives of others. there are great ideas. first, daniel has eye-opening reasons why we make mistakes with our money. that's next. i am totally blind.

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i'm a regular at my local coffee shop and my local barber shop. when you shop small you help support your community - from after school programs to the arts! so become a regular, more regularly. because for every dollar you spend at a small business, an average of 67 cents stays in the community. join me and american express today, small business saturday, and see how shopping small adds up. our brains evolved over time, escape predators and find food on the savanna. the same instinct can be very wrong when it comes to money. behavior economist brings us back to explain how to avoid expensive mistakes. thank you, daniel, appreciate

it. you have an interesting formula, you've got four basic categories of mistakes people make. i want to dive right in. the first one we are all guilty of, that ego. >> but you and i as men are more guilty than others. ego is this a tendency for us to be that we are lucky, we are smarter and better looking and more above average and the male of the species unfortunately is especially prone for this. >> everyone is an above average driver. how can you steer me wrong when it becomes to investing parts. >> working with an advisor or professional, getting the help you need. it could be overtrading even though across 19 different countries we've studied, we see in every country the more you trade, the worse you tend to do so ego is the mother of all bias and can really lead us astray. >> they think they are smart enough to be the market when in

reality the market has a lot more information than you probably do. >> absolutely. >> let's move to emotion. people make mistakes based on emotions. >> emotion, going back to talk of savanna, emotion was our original risk tolerance question questionnaire. trust or not trust, it's a guide to us in many facets of lice life but it extremes serves us poorly in these examples of life. >> if you thought obama was terrible and he didn't invest, humans missed out in the market and if you didn't like trump, that will market kept on running. >> studies have shown if you're a democrat and republican is empowering, you can think that the market is doing work than actually has. the reverse is also the true. the example you gave is right on. we can't let emotion enter into

the way we make decisions and we have to invest in ways that are agnostic to our political leanings. >> that's hard to do, how do you take emotion out? >> there's a couple of things you can do. first, try to avoid emotion in scenarios. i never look at my account statements, i tariff them up and throw them in the trash. avoid catastrophic financial news and even place you can make them work for you, people who thought about their children before making a financial decision for two and a half times more likely to invest and take risk than those who are not. there are some sorts of emotion we want to avoid and other ways emotion can catalyze a positive process. >> what do you mean by attention? >> attention is this tendency for us to evaluate probability,

not in terms of how likely something is but in terms of how scary or easy to remember it is. necessarily not all information is if people wait to us and if we hang on information, it is catastrophic or scary or seems big but this can lead us to think certain catastrophic financial events are more common than they actually are. for instance, on average over the last 35 years, we have had a market correction every single year. a 10% drop down every year on average and yet, because people don't pay attention to the probabilities work rates, we think every time there's five or 10% drop on the market, it's the end of the world. people were probabilistically minded, no butter and don't fall prey to this bias. >> people are scared of shark attacks when selfies are more

dangerous. conservatism promotes the danger there? >> is this tendency to conflate things that are known with things that are safe. everywhere across the globe, investors tend to overinvest in their home countries because they know it. investors in the north eastern united states are overweight. in the midwest are overweight agricultural stocks. if we've heard of something or know it, it's safe and vetted but the absolute opposite is actually the case because we are double and triple stacking our risks when investing in things that might already have been invested in in terms of our housing or employment or other commitment you have made to those areas. in an odd sense it makes a lot of sense to invest in what you don't know and use investing as a sort of liberal art or a way to learn more about the world and different industries you may

not be as familiar with because investing in what you don't know tends to make a lot of sense. >> really good advice. don't load up your 401 cake with company stock. coming up, what you should and shouldn't by cyber monday. our ideas for great financially savvy gifts. that's next. most people think of verizon as a reliable phone company. (woman) but to businesses, we're a reliable partner. we keep companies ready for what's next. (man) we weave security into their business. virtualize their operations. (woman) and build ai customer experiences. we also keep them ready for the next big opportunity. like 5g. almost all the fortune 500 partner with us. (woman) when it comes to digital transformation... verizon keeps business ready. ♪

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click, call or visit a store today. as we begin the holiday, the roundtable has ideas for gifts you can give others to improve their financial lives. i will start with you, katie. jewelry, sounds like a nice gift but there are others that make it even better. >> by us something we like.

look at the quality of the metal, 24 karat gold, diamonds it's a bit harder, there's a lot of factors to consider. by jewelry because you love it also a gift that gives back. >> they are catering to this idea that were not just buying jewelry. >> they consider themselves investment jewelry websites so they have markup on gold, 35% on gold jewelry. a lot of them will buy it back. it's an interesting way to think about it. >> twenty-four karat gold thing, she can melt it down. >> she's like i love it. i will melt back, take cash and run. >> it went positive on gold a year ago, $1200 now pushing 1500. it might be good. >> nothing like a good gift.

>> i wear my 4o1k as jewelry instead of gold. >> good idea. you are already married. let's go to something else under the tree for the children, altima will get them excited? >> it's a great way to make an investment or create vehicle for your minor. depending on the state, they can take ownership of that, 18 to 20, both vehicles you can have a tax advantage buildup with the transfer, you can invest real estate also and as an individual, up to 13000 or up to 26000 a year for that child and

become of age, they own the asset so it's not like a college savings plan, this is a way for them to have assets and investments outside of that. >> dual benefits, down payment on a house of that and also the idea that they watch it grow and they will learn about investing. >> absolutely. and you learn about finance and something that lacking in schools, that's one way to help them understand. >> when you combine investing with jewelry, i've got a jingle. every kiss begins with 4o1k. [laughter] how about that? tell us about, give your kids that, maybe ask grandma and grandpa to contribute to the 529. >> i will reject the premise of

the gift. you should contribute to a 529 for your kids college, especially if you live in a state where you can get immediate tax breaks on that, it's a great idea however, it's a holiday. a little joy, festivity. if i told my daughter she got a contribution, she will fire me as her father. >> she would thank you later. >> i get them in before easter and play a cheaper ball for the rest of the year. give them something they wouldn't buy for themselves normally. >> amazon's top 20, singing baby shark dry. next year you're going all in on the 529. tell us about bags, they can appreciate in value. >> yes, that gives them a gift that gives back. new look about chanel bags, they

have a high price up front but they have a resale value, 70%, more high-value. $4000. don't leave your pin in their. >> $3900 of cash in the bag. >> golf bag. >> thank you, guys. up next, the biggest online shopping day of the year, by all this good stuff we've been talking about. cyber monday will entice buyers with holiday sales but not all are good deals. stay right there. we made usaa insurance for members like kate. a former army medic, made of the flexibility to handle whatever monday has in store and tackle four things at once. so when her car got hit, she didn't worry. she simply filed a claim on her usaa app and said... i got this. usaa insurance is made the way kate needs it - easy.

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black friday for big holiday sales but not all of them are

good deals. katie, you've got things to buy and things not to buy in the coming four weeks. let's start with travel. >> this is a definite to buy. hotels to airfare big tours and trips. hotels, we are seeing high end hotels. for abercrombie and beyond, -- >> safari offer -- >> cyber monday, mark the calendar for that. airfare, there's a lot of international airfare deals for cyber monday so everywhere from beijing to south africa to costa rica, we saw that last year end probably again this year. cyber monday is like the day people know foreclosing and there are good deals for the 25, 35% off the entire site but you can get on nordstrom's, this is a great time to buy gifts.

>> smart home devices? >> yes, you're going to see cyber monday, they are extending all the way out. next nest, alexa, still good. >> tell me the things not to buy. choice? >> if you want a hot holiday toy, you should have bought it a while ago. they are discounted closer to the holiday speak because they don't want them sitting on the shelves in january. >> furniture, don't buy that but tell me about tb. you see your busters. >> traditionally black friday has been the tv day. might see tv deals but they are not generally as good as black friday. >> great ideas. you can read more about financially savvy gifts online

and don't forget to follow us on twitter. that's all for this special edition, see you next week. is a crybaby. >> just a little. mike thank you so much. >> from the fox studios in new york city, this is from wall street. >> heavy weekend, and happy thanksgiving to all. welcome to the program that analyzes the week and position you for the week ahead. maria in a just a few moments my one-on-one interview with and more cuban, will talk about his right from humble beginnings to becoming one of the most influential names in sports and business. and then later i will talk with the ceo of mercer, about the super yacht industry and how his sectary is a key indicator for the broader economy. all that coming up. in the end of 2019, can you believe it. let's move ahead a year into 2020 with strategic partner and had a policy rea