at the age of eighteen assault rifle falls into the hung rival category so if you have look class s k s s k one hundred eighty nine it's no use i didn't say you eighteen to buy one and one hundred. he just makes a hundred dollars and i hope i was in the hood and a.k.l. so right with thirty round clip if you let the people instead of them going to operate in the office with fifteen twenty year the kid with a gun. to the streets it's got to be astronomical and you wonder why the murder rate our because everybody got to start right. it was at one time i live by just i'm going to venice i was tired of going for a man i love him i was i will view the body i'm a fan of both but i've got a friend on the way repay and i'm just kind of. has too much of. these things must that mean the only way to get some is to get you know the count is a problem before it gets to that problem. when the more not the for these children more just growing up as well just to live and survive and just the work the system the judge the librettist this is going to be unveiled there the next five ten years is that you can s

s k s n a k one hundred eighty nine it's no use i didn't say you eighteen to buy one and how did. eighteen. you can just make some hundred dollars and i hope i was in the hood and a.k.l. so right with thirty round clip if you let the people instead of them going to operate in the office with fifteen twenty year the cumulation and go. to the streets it's got to be astronomical and you want to why the bird to read because everybody got to start right. it was at one time i live i just i'm going to i was proud of going through my i love him i was i will be the body i'm assigned the book but i've got a friends in the way repairs i'm just kind of. has too much of. these things mustapha you know a way to get some of the. you know the count as a problem before it gets to that problem. when the more not the for these children more just growing up as well just to live and survive and just the work the system the judge the librettist this is going to be in jail there the next five ten years is that you can see can see a guy like that almost two four six seven children over there under the age of ten ten more years where would they be if this can see on being like this you know. in two thousand and six lisa and danny fiz patrie moved to new orleans to continues lisa's work with youth and the summer they started a daycare for kids who had nothing to do two weeks after summer camp a young man was shot a block and a half from here when that occurred and i'm driving home seeing that body on the other side of police tape and what's more than that seeing the kids and the neighbors it was a normal occurrence in their lives and i just said we're going to open a center now we're not going to open it two years from now and i'm going to five years from now we're going to wait to the experts tell us we dotted all the i's and crossed all the t.'s at the center over the fence patches quickly learn about the kinds of obstacles they would face lisa recalls a story about giving one of the kids a bike i gave him a bicycle because he'd been walking to work to the french quarter the donor had been generous with us so we decided to give him the bicycle to go to work he had had that bicycle only a few hours got a block from my house and officer pulled him over yanked him off of his bike threw him down face down on the ground and accused him of stealing about so now that young man he takes my six year old to the store with him for protection because a six year old white child is protection from the p.d. . and two thousand and eleven report from the department of justice confirms the claims of many new orleans you are findings reveal the pattern of practice of unconstitutional conduct or violations of federal law in several areas these included violations committed by officers through their actions including the use of excessive force un

k)s this evening. with stocks in a free-fall tonight. the dow down more than 300 points this week. the worst week for 401(k)s in over two years. so, what does this mean for your money? abc's chief business correspondent rebecca jarvis tonight. >> reporter: a dramatic reversal on wall street, stocks dropping as fast as the thermometer this week. taking investors like bill and kathy wolters of illinois on a roller-coaster ride they thought was over. now that you have stayed the course, how do you feel? >> it's more than tripled. been very good. it's been a great year. >> reporter: tonight, they're not quite so optimistic. >> that was a really bad day today. >> reporter: the average american family 401(k) started last year around $77,000. by year's end, it was above 100 grand. but just this week, it's fallen more than $3,000. why is this happening? fears of china slowing, american consumers spending less and worries about just how much the federal reserve will keep helping the markets. >>> and rebecca is here with us now. the advice so often is ride it out. but riding it on wall street last year is feeling a lot different than it is today. >> dave, i have been talking to some of the top minds on wall street, they said this year, we could be in for some more bumps. for those who are closer to retirement, a few years away, it's time to talk to your adviser and consider taking away some of that risk. >> likier a bumpier ride this year. all right, rebecca, thank you. >>> another headline about a well-known american family living beyond their means. a former politician and his wife and a very lavish lifestyle. trading political favors for the lifestyle of the rich and famous. here tonight

k.'s current and former students agree. he's no ordinary teacher. >> think back to the first time that you sat in mr. k.'s class. >> when i went to mr. ksly, it just grows. >> you get to know him. and he goes like from this crazy abstract guy to someone who just like nourishes everything you care about in yourself. i realized that i actually did have this gift kind of that i could use to help people. and that's made all the difference in my life. >> if i were you, i'd play it like this. >> reporter: luis moved here from puerto rico this summer. it was his life long dream to play the violin. but he never had the opportunity until he met mr. k. >> when i just came here the first time, i was like, i was dreaming i was always going to play the violin. >> so he asked me to play the violin. and i said do you really own a violin at school, i have one that i bought for 75 bucks, i thought i could bring that in. >> he has been the best teacher in the whole world. it's the first class i love. and then the music gets inside my heart. >> ha! >> he has helped to make your dreams coming true. >> reporter: teaching music isn't the only way mr. k. spe

k)s. if you add everything up, this category of people in the 50s and 60s, assets are not only 401(k)s.e also house something 50% of assets -- >> what's the total. if you add up everything, what do you think the role total is -- >> you can't live on a house. >> we know from the federal reserve if you add total net worth for the household sector and divide it by the number of house holds which is roughly 116 million, the average net worth is -- people in the 50s and 60s this is the average. they probably have higher levels if you include everything. >> torsten, all the data i have seen suggests the labor participation rate has actually gone up over the last couple years and in fact my anecdotal data, which is my mother my mother and my father they're both in their 70s. my mother worked up until a year ago -- >> that's because they have to pay your bills. so anecdotally and datawise, it seems a lot of older people are working a lot longer now. >> david, i'm glad to hear your mom and dad are still paying taxes and supporting the economy. there are underlying trends going on and that's you

k)s. this is something where you want people to split up a little bit. >> this is relatively new. 401(k)smoney that you've already paid the taxes on in and you don't have to pay taxes again when you full them out. it they're particularly good for young people or anybody who thinks their tax rate is going to be higher in the future. so you can split your contributions, some in traditional, some in roth. >> what you're seeing a lot of is larger companies are offering their employees professional financial advice. do you reck that employees take the advice of the company that work for? >> it's not the company that you work for it's often the company that is your retirement plan provider or a third party company. your company can't give you this advice. yes. i think this is a great idea. research has shown that people who take the advice actually do better. to if you feel like you're speaking a foreign language when it comes to your money, this is a great move. >> jean chatzky thank you very much. keep the questions coming. jean is going to stick around and answer more in the orange room. >>>