epperson on how to navigate on the volatility. people wake up and see the first few trading days of the year with such traumatic losses, and they think i should sell my stocks and get out of this until you see why things land. >> when you look at some of the worst times in our history, the great depression or recession, look at the returns in the subsequent five years. you want to be part of that action when the stock market comes back. you never know when to time it to get back in, you can't time it. >> is that a way of saying you should never look at what is happening with the averages? or is there a moment where it might make sense to maybe put in double what you have been putting in on a regular weekly basis or something? >> it is best to have a plan, that is the first place to start. it is a great time to do it here at the start of the year. how much you need to put away, set a course and stay that course.

timeline, when you want to retire, your risk tollerancetolerance. stomach. and you have to be willing to rebalance when you need to rebalance and make sure your photofolio last stocks, bonds, and other asset classes. >> what do you do to keep your emotions in check? >> it is very emotional. and the thing that i like when this happens, you know, and you say why would you like to see a stock market drop? it makes people pay attention. now they're you paying attention, don't panic, but make sure you have a plan. talk to a financial advisory. make sure you decide what your goals are and come up with a strategy. >> even has a retirement plan they're thinking about. maybe your reaction should be different if you're in your 30s, 40s, and 50s.

years, you don't need it in the stock market at all. if you have a short-term goal like buying a house or you want to invest in a business or something, you may want your money in conservative investments. when you talk about retirement, this is a long-term perspective and you need to think that way. if you're a young investor, fidelity came out with a potential scenario, 85% of it should be in the stock market. >> what is young? >> 20s, early 30s, or just starting out in your career and starting to invest. that is where you need to have your money, nanny a mix of u.s. and foreign stocks as well. 15% or so should be in bonds. when you're mid career and we're talking 30s to 40s, and maybe even longer, you need to focus on growth. in that growth portfolio you have about 70% of your money in the stock market. again a mix of foreign and u.s. equities. and then you want to have 5% or so in the short-term investments

>> what happens in your 50s or 60s and you're heading towards retirement. >> you should still be heavily invested in the stock market, about after of your portfolio in stocks. think about your life expectancies now, we're living to the 80s and longer. you need that money for growth. pat of your portfolio has to have that growths a s aaspect to it. the rest will be a combination of bonds and short-term instruments like money markets. >> sharon, thank you very much. >> sure, my pleasure. here is a look at other stories making news as we go into a new week "on the money." a strong jobs report for the month of december. the economy created 292,000 jobs, and numbers for previous months were revised higher. the low of 5%.

market, and we don't mean a good one. the dow had their worst first four days of year ever. the same held true of the s&p 500. the nasdaq fell about 6% with a three-month low with worries about china taking center stage. auto sales hit a record high last year with americans buying 17.5 million vehicles in 2015. that broke the mark set 15 years ago. cheap gas all contributed to the new record. up next, the affordable care act entered year six. more americans have access to health care, are they healthier? are drug companies investing

in march it will be six years since the affordable care act became the law. is obama care making health care more affordable as intended. faced with premiums and higher deductibles, some people are not so sure. >> michael chadwick is all for obama care insurance, but the man hatenthe manhattan realtor says he could not make his payments. >> 2015 i started doing well and business started to pick up. the affordable health care act doesn't take into account that small business owners may not have consistent income. >> they signed up for 2016 exchange plans by late december. that is well below the 20 million expected to sign up by year three of obama care. analysts say cost remains an issue.

continue to suggest that exchange plans just are not affordable for them even with the subsidies, they simply can't make the monthly premiums work in addition to all of the out of pocket costs. >> insurers are seeing higher costs. a dozen nonprofit co-op insurers are out of business, and united health says they may stop selling exchange plans next year. >> people are reconfiguring their products. what we're going to know next year is what works and what doesn't. >> a budget deal delay could help with prices in 2017. but the real key is getting more healthy people to stay enrolled. >> i'm paying a little per month for the peace of mind so my jewish mother can sleep at night.

insurance goes up to $695 or 2.5% of your income, whatever is higher. continuing our obama care check up, let's bring in dr. kenneth davis. he is the president and ceo of the mount sinai health system. what is the truth? we have seen news about rising premiums, higher deductibles, is obama care working or not? >> reality is what you showed. the premiums are going up, deductibles are higher, and that is a problem. insurers are leaving the risk pool. it is not enough healthy people have signed up, and that is because the penalties were not enough. they rise enough, perhaps, that

ages 25 to 35 will join. they diminish the cost of insurance by distributing it over a larger population. roughly the estimate is 35% to 45% of the risk pool, it gets -- the whole insurance system gets in trouble. >> what percentage is signing up right now. >> right now it is about 26%. >> united health is talking about potentially dropping out of obama care. we also heard about mega mergers. what does that consolidation mean? what is the drop out potentially of others, what does it mean for prices next year? >> less kpecompetition, and that is a problem. the ftc really has to look at that market by market. >> we know that as a result of obama care, you're now looking at an uninsured population.

you think needs to be fixed? >> we have to ask what are the drivers or health care expenses and how will we curtail that increase. and part of the problem is the 25% of medicare dollars is spent in the last year of life. we have still done very little to change the way we approach end of life care. advanced directives are very helpful, but what we often find is that as patients get end of life diseases, there are no end of like directives. >> frankly it is a conversation from our own personal experiences that you usually don't have until the midst of things and that is difficult emotionally. >> it is too late then, and we don't want to ask hard questions like should a condition for being in the medicare program be that you have to give us an advanced directive when you seen up. that would change everything. >> you look at one of the huge

be company that's are talking about big increases. you understand that for research and development, drug companies need to be able to charge a certain price, but how do you find the happy medium? >> it is a very complex problem. the rest of the world regulates the drug prices. our market is the market where the companies have to generate profit. we have to recognize that this is a trade issue. when we sit down with nafta, with the eu, and with the pacific rim, we have to say that we can't be the only place in the world that is giving drug companies a return on investment. >> that is a different argument than some say. you worry you shut down any

innovation. you're telling our companies they can't regulate drug prices, either. >> we all have to sit together and say what is an appropriate return on investment, and what is necessary for the infrastructure of the pharmaceutical industry so they can be innovative. >> over the last year, i think there was 45 new drugs approved, and that is great news that many of these were for specialized or rare diseases and i wonder what kind of progress we're making when it comes to chronic illness. >> the other way we bend the cost curve is with breakthrough therapeutics. and they have to be in the the area with the most disability and the most cost. the diseases that stand out are type two diabetes and alzheimer's. we don't have adequate incentive

so we have encouraged companies to take a business model that doesn't develop the most important drugs. >> and i think the fix for that is a longer sort of discussion, but is there something quickly that you think -- >> in the 21st century cure act, it would be very helpful if we had an extended market exclusivity. the alzheimer's clinical trials will take so long, done right, that the patent life left on those compounds will be so short that we will be dealing with drugs of enormous expense or that will not be developing. >> thank you very much for being here, dr. davis. >> thank you for having me. up next, the booming business of slimming down and staying in shape.

boutiques. announcer: you wouldn't let money just blow out of your house. so when your ac or heater is on, make sure the doors, windows, and fireplace flue are shut tight. if you're headed out, turn down the ac, or lower the heat, by 10 degrees. and always keep your water heater set at 120. a little bit of common sense goes a long way.

if you have been to the gym lately, you may have noticed it's more packed than usual. the annual new year's resolution is there. people focused on weight loss and getting in shape.

the big business of fitness getting even bigger. morgan brennan joins us more. >> it is a studio based exercise that has influenced fashion and food. >> an average price tag of $30 per class. boutique fitness is a new way to work out, and business is booming. the health racket and sports club associations says the memberships have been growing. 32% of all members used these facilities in 2014, up dramatically from just 22% the year before. soul cycle, the indoor cycling

fly wheel has nearly three dozen studios where they take spin classes. >> it is an eimmersive workout experience. >> they also have aggressive expansion plans. >> we have an exciting trajectory in front of us. we want to be in 50 stores in the next five years. >> it cost 50% to 100% more than the industry average. it inspired a fashion trend called at leisure. >> it is more than 40 fitness nessness brands and a celebrity following. the fashion start up has opened five brick and mortar locations.

well known instructors teach classes. >> and it helped fuel a culinary craze. foods labelled with health attributes jumps 13% meaning getting in shape may increasingly mean getting financially fit. >> i tried a number of these classes, they're not for the faint of heart if is easy to understand why this has become to popular and created a culture of fitness fashionistas. they have seen sales in studios that have been open for more than a year increase by more than 30%. if this was a publicly traded company that would be incredible growth. >> i stick to the old stinky gyms myself, but what about the new high end fancy gyms, are they able to continue to compete? >> referee: some of them are

big box gyms continue to have a dominant piece in the fashion industry. it is the small boutique studios. one of the other things we're seeing happen is the byifurcation of the fitness industry. they will do the $10 membership at a lower end gym like planet fitness. >> that makes sense, you get a little of everything that way. >> up next "on the money" get a look at the week ahead.

are getting a upgrade. for more on our show and our guests, you can go to our website. you can also follow us on twitter @onthemoney. >> the detroit auto show kicks off on monday. we'll see the latest high tech gadgets they'll have for us in the next year. and tuesday is the anniversary of the debut of "all in the family."re release their beige book. friday will be several economic reports starting with retail sales, and we'll get a look at inflation with the ppi. and new york's public pay phones are going free and wireless. they were turned into wifi hot

the hubs will have android tablets that can browse the web for free, users can also access the free wifi on their own devices. need a battery boost? each hub has two usb charging ports. we'll see how long these things last. that is the show for today, i'm becky quick, thank you for joining me. next week, shopping for insurance from home to car to life. how to make sure you get the most for your money. we're "on the money."

you next weekend. from the studios of farm journal broadcast, this is u.s. farm report.> welcome to u.s. farm report. i'm clinton griffiths, in for tyne morgan, and here's what we're working on in the next 60 minutes. finicky financials...global markets start 2016 on shaky ground in john's world, heartfelt felt thanks for the forecast. "here's to mike and all the weather people out there. yes...here's to mike. hail to the chief...a preview of the upcoming farm bureau presidential election. and baxter black...perspective from the salesman's side.

week... it was a bumpy start to 2016 for major markets this week. including the dow jones industrial average trading at levels it hasn't seen since early october. helping to trigger the sell off-- fresh panic selling in the chinese stock market. that market seeing multiple days of 7 percent drops and suspended trading. usda also readjusting it's expectations for the chinese market. currently about 17 percent of all u.s. ag exports find their way to china. usda is now revising that down-- expecting the country's gdp to fall to roughly 6 percent. adding that in 2015 exports to china were down 4 billion dollars or 13 percent. it expects that to fall even further in the new year. oil prices also trickling lower during the week--dropping into the low 30's for the first time in 12 years. west texas intermediate and brent crude both down 12 percent in the first week of the year. analysts

company stocks also feeling the pressure. while parts of brazil have seen decent rains in recent weeks, our reporting partners at pro-farmer say drought remains very serious issue in parts of brazil. the leading soybean state of mata grosso is very dry...however three quarters of mato grosso saw between 3 and 8 inches of rain in the last 10 days. while the center west district - which is brazils largest soybean region - has a rainfall deficit. it's about 60-percent of normal. traders in chicago are watching closely. meteorlogist say el nino appears to be past it's

parched region of brazil.