hi, everyone. welcome to "on the money," i'm becky quick. wild market swings. they dive, they rebound, they start all over again. how you can protect yourself. why the volatility could mean more money in your pocket. the next crisis coming our way isn't ebola. a man says get ready now. secrets of a self-made millionaire. how suzanne somm eers went from sitcom star to a marketing queen. here's a look at what's making news. there was blood letting on wall

street this week. some healing and then plenty of questions. the dow fell for six straight days by thursday and losing nearly 600 points. the nasdaq down 10% from its recent highs. it is due to worries about weakness in europe, ebola in the united states, and worries about inflation. all the unrest caused a flight to safety. that sent prices up and pressure yields, which fell 2% this week. oil tumbling below $80 a barrel for the first time in four years. that is partly because of weak global demand and due to a strong dollar because oil is traded only dollars. there were also signs of corporate health with earnings coming out. city beating analysts expectations, so did bank of

america and goldman sachs. hbo announcing a standalone streaming service sometime next year that wouldn't require cable or satellite service. no word on how much that would cost. volatile doesn't begin to describe what was happening with the stock market this week. joining us right now on what it means for your money is richard bernstein. rich, thank you for joining us. >> thanks, becky. we call it volatile. we know there was a huge dip. the nasdaq already down about 10% at one point. is this a permanent thing? what would you be telling people right here? >> you had jittery investors going into this period to begin with. then you get a little more uncertainty than people are used to and the market goes down very quickly. one of the important things to remember is the economic fundamentals that would normally

associate a bare market or a recession are nowhere to be seen. >> things like what? >> things like a tightening of liquidity from the central bank. yes, they're reducing it, but they're not mopping it and reducing the amount of liquidity out there. >> i'm glad you brought up the fed. it was fed speak that calmed the markets. if things turn worse, they could potentially step back in. they don't want to do this. what does that mean in the weeks to come? >> i think people have to remember that the fed, like most investors, doesn't not want a replay of 2008. they are very, very scared. i think it's important that the fed is always a lagging indicator. their data-dependent. they're always reacting to the data. they will react more gradually than they normally would in a

sick cycle. the fed is going to reverse course. they will ease more aggressively. they are in no rush of a replay of 2008. >> given all that, do you think we have hit a bottom? >> i honestly don't know. what you have seen in the last few days is a shift from pure emotional selling to some picking where the fundamentals are getting better. for example, let's say europe is the cause of this weakness. through the majority of the period, those with more exposure to europe were actually outperforming. and smaller u.s. companies were underperforming. those small companies have started to outperform again. >> we are into earnings season. so far things have looked pretty

good. >> right. >> what are your expectations? >> cash flows are very, very strong. you're not seeing a lot of capital spending. in the market goes down a lot from here, you'll see corporations step up. >> that's interesting. takie ining advantage of what t see many the marketplace? >> exactly. >> dipped below 2% at several points during the week. oil prices fell below $80 a barrel. that's potentially good news for the consumer but scary about what it's signaling in terms of the economy. >> we have to wonder is the economy really that weak. we just saw employment statistics that were strong, but you've got this combination of weak energy prices and commodity

prices. oil at $107 a barrel wasn't really justified, but oil at $78 a barrel isn't justified either. it's somewhere in between. but for right now, good employment statistics, lower gasoline prices, you have to smile. >> things have been pretty good. you would watch those, jobless curricul claims? >> it is a leading indicator in the economy. this past week it hit a 14-year low. that's the best number in 14 years combined with lower gasoline prices. >> what are you looking for in the week ahead? >> earnings are the big story now. i think with the emotional sell-off has ended. i think the market will inch its way up. >> thank you so much for joining us. up next, the man who runs the

world's largest asset management firm says the crisis is already here. >> your parents are going to be living with you. >> one of hollywood's original reinvention stories. take a look at how the stock market ended the week.

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speaks, you should listen. larry fink says there is a big crisis coming and it's one that not enough people are thinking about. >> to build a proper savings for retirement requires a process of saving continuously through life. the later you begin saving for retirement, the more difficult you're going to have that pool of money that you want to live a retirement in dignity. too many americans are too dependent on just social security. the social security program was supposed to be a backdrop to all the other private savings you have. and one of the reasons why i don't believe it's a crisis that's in the news today are federal workers don't have this problem. they have a great retirement plan, and this is why we have to be noisier on the private sector. the other acircumstances is we

are living longer. >> it used to be the corporate sector, the private sector, would almost provide a very paternalistic sort of situation where they were providing pensions for people. now it has switched to a defined 401k structure. what happened? are corporations to blame and what should they be doing to help people along? >> i believe the business community is at risk for not educating their employees. the purpose of moving for a defined benefit plan to a defined contribution plan is they reduce their liability. they're putting the responsibility onto the individual. the problem is each individual,

depending on how they perceive their life, tend to live their life more for tonight than in the future. in addition saving for a 30 to 40-year outcome is not a front and center priority. some americans will say i need to save for my kids' education. some americans will say i need to save for a house. so retirement is not front and center. they watch the news. whether it's ebola or volatility in the world or isis, they become frightened. they hold back their assets more in cash or short-term bonds. when you're thinking a 30 to

40-year outcome retirement, you need to be focusing on how to build that nest egg over a 30 to 40-year period. i speak at many different universities. one of my ending comments to the students, if you're not working and helping your parents save for retirement, be prepared. you're parents are going to be living with you. i say that as a joke, but it is a serious issue. it will drag down this economy. if more and more people are sharing dwellings, we'll have less construction. >> i have heard statistics you should be saving 10% of your paycheck for retirement. if you were to offer advice for somebody sitting at home right now, say they can't save 10%. $100 a month? what is something practical they

should be putting in? >> if you believe the u.s. is the best place to invest over 40 years, you're going to be able to assume 60 to 40 compounding rate. we actually have a calculator. it actually helps people addressing that issue. how much money can you put, expected returns? you can dial up $50, $100, what type interest rate expectation, so you can see what that does for your retirement savings. >> thanks to larry fink. up next, we are "on the money." turning bad news into a new career. >> why are you focused on what you don't have? >> i realized i had enormous

visibility. >> the market drop is

can you imagine getting fired and having it turn out to be the best thing that ever happened to you? actress suzanne somers was released from "three's company." she has sold thousands of fitness and fashion products. suzanne somers, thank you so much for being with us today. >> thank you, thank you. nice to be here. >> i think this is one of the more amazing stories. you have built up a huge profession as an entrepreneur, a businesswoman. how did you get yourself into that position? sq

>> i bought a really expensive pair of shoes. this was like 25, 30 years ago. i didn't know how i was going to tell my husband why i would spend so much money for my pair of shoes. i came out in my underwear and said, do you like my new shoes? he said, great legs. that'll be in the thighmaster commercial. then you get the entrepreneur book. >> we were talking off camera about your book business and how people are buying many more ebooks these days. >> i think the high-end coffee table books will always be around. but the books i've been writing will probably go a different

way. i'm always writing a book. cancer was a huge and strange gift because at the time when i was diagnosed, i knew enough to not want to go the way they wanted me to go. it was very daunting at the time to refuse chemotherapy and the harsh after care drugs. it made a fighter out of me, so this ability, fame, can be used for the better good. my message is real. i really feel that women deserve to know that there's another way to age than the way we've been ageing, the way our mothers aged, and our grandmothers aged. >> when you were fired from "three's company," you made a stand. you wanted to make as much as the men. do you think things have gotten

better in hollywood? >> i remember when roseanne had the "roseanne show." she got more money because she was pulling in the ratings. it's like "friends," when they got a million dollars an episode. i think when you're in acting -- if you go to law school, you're going to be a lawyer. if you go to medical school, you're going to be a doctor. what you hope for as an actor is one score. you want to make the most of it. i got it. it was such a score. i felt that she deserved that. >> did you think it was over when you were so abruptly fired? >> horrible.

i sat in my living room and doubted myself and why did i -- here, i had life by the tail. here i was on the number one show, and i couldn't even get an interview. i was considered trouble. i heard this voice in my head, but it took close to a year to hear the voice. why are you focused on what you don't have? why don't you focus on what you o great. my marriage is great. >> so no regrets? >> i have no regrets. >> suzanne, thank you so much for your time today. >> thank you, thanks. up next "on the money," a look at the news for the week ahead. and the consumers upside to the market's downside. ' upside to te market's downside.

for more on our show and our guests, you can go to our website and you can follow us on twitter. earnings season ramps up. amazon, apple, ibm, microsoft, and yahoo and verizon all report their numbers. on tuesday, we'll be getting existing home sales numbers. on thursday, we get the production manager's index. and the ipod turns a lucky 13.

on friday, new home sales are reported. the stock market slide has made investors and consumers pretty jitt jittery, but tumbling energy prices and reduced home rates may be a silver lining for many. we know the yields on treasuries came down significantly this week. does that affect mortgage rates right out of the gate? >> it does. we're still seeing a considerable drop in mortgage rates. it translates into real money in your pocket. if you're able to get your rate down from 4.25 to 4%, that's quite a savings. one of the things you have to look at is how much equity you know have in your home. home prices have risen.

you may have more ek witquity be of that. every time you fill up, you're saving $5 to $10 a gallon on that fill up. a two-car family, you're talking $120 a month in savings. >> we'll take that. as we get into the winter, the heating oil prices have come down considerably. >> that's a small part of the n untry in the nor heating this winter. we're going to have a milder winter, a lot of folks are saying, including the federal

government. propane, that was a crazy market last year. the folks in the midwest could see as much as an $800 savings. 15 to 30% less in terms of home heating costs than they did a year ago. >> with these lower energy prices, you have to figure maybe somewhere down the road we'll see lower ticket prices. >> that's what people are hoping. there's a lot of good news out there, too. if you're able to refinance, think about the money you may have in your pocket right now you can use to pay down credit card debt. that's another thing a lot of folks may want to do. there are some silver linings here. it's been a volatile week in the market, but for consumers there's a lot of good news out there. >> that's the show for today. i'm becky quick. thank you so much for joining me. my guest next week is quicken

loans founder, dan gilb

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right now on nbc 10 news today, deadly shots fired. police are looking for a suspect after violence erupts in a philadelphia neighborhood. and right now it's a crucial time for people on an ebola monitoring list in dallas. they could soon be free and clear. taking a live look outside at a pretty and pink boathouse row presumably in support of breast cancer awareness month. we are off to a chilly start on your sunday, and it is expected to get colder. good morning. this is nbc 10 news today. i'm rosemary connors. it's 5:30 on this sunday morning. meteorologist michelle grossman is tracking the chilly conditions. and michelle, the winds kicking up a bit, too, right?