the luxury lifestyle. you think of college living as cinder block living. now that grant is out, swimming pools. what's my line? you just don't have time to wait online for that big ticket for the concert or anything else, hire someone. really. "on the money" starts right now. this is "on the money" your

life, your money, your future. now becky quick. >> whether you are a parent, may some day become one or know someone who is, you know that having time to bond with a newborn can be difficult. it's often at odds with work schedules, too. but major companies like microsoft, netflix and adobe beare expanding the coverage. that's our cover story, new baby, new rules. >> juggling family and demands and a new career has never been easy. they found that 75% of millennials want flexible hours and they want it to be on track for a promotion. it may be hard to have both because the labor department says 13% of u.s. workers have access to paid family leave. that may be changing, at least in the tech world. >> we were noticing that most of our new moms were going off and they were taking, if they could, they would take five to six

months and they were stitching together personal time off so we decided that given the average amount of time was five to six months we would provide 26 weeks of fully paid benefits. >> that's a half a year off. netflix doubles that offering top talent but not hourly workers a full year of paid leave for new moms and dads. microsoft expanded the policy 20 weeks for mothers and 12 weeks for fathers. facebook gives 16 weeks for all new parents but will taking the time off to bond with your kid damage your career? >> at adobe be, we believe people will take the 26 weeks because we defined it. i believe that this is going to be a great, effective program for both the attraction of tall length but also the retention of our great employees, too. >> so are other companies seeing value in letting employees take time off from work to bond with their babies. sue friedman is at the university of pennsylvania, joan williams is at the university of california hastings school of

law. thank you for being here. do you think this is the start of a major benefits change or this is something that companies need to do to compete for some of the top talent? >> i think it's something the technology companies need to do, but what's spectacular is we have a tight labor market for talent here in the bay area. one of the ways that employees are competing is by trying to offer better leave and more family friendly benefits. that's a real change. that's striking. >> it's a real change. definitely grabbing national headlines. sue, when you try to break it down, how do you get what the cost is for the company and how do you measure that against the benefit that they should be getting? >> the long-term benefits in terms of attraction and retention which is what the adobe beperson was speaking about are enormous. there's been research that shows that investments in 16 weeks of paid leave for businesses worldwide would save over the long haul $16 billion overall. so the short-term cost is how

you flex to make it work when people leave, which of course also offers opportunities for other people to step up and to develop. so there is some short-term adjustment. it's not going to be easy, but we are clearly seeing a trend towards more companies, not just in the tech industry, offering this kind of benefit. so when you talk about the $16 billion in savings, that must be from the idea that you don't lose women who may be spent five to ten years training who drop out of the work force because they want more time at home? >> yeah. the costs of turnover, especially for professional tall length, is enormous. and what we've seen in states like california especially that have experimented with state supported paid leave is that when you offer it, you actually get people more likely to come back, women especially more likely to come back into the work force. you get a long-term benefit with short-term investment. >> joan, yahoo ceo marissa myer said she's expecting twins.

she's going to be taking limited time away after they're born. i don't want to criticize anyone for choosing to come back early, choosing to take more time off. you should parent however you want to parent. i wonder if parents should feel the pressure to return to work quicker because that's what the boss is doing. >> the flexibility stigma. a company has to be concerned when it institutes leave people feel that it might be a career killer to take it. and that's been true to be triggered when women take leave and when men take leave. and so, for example, one of the -- i think the ideal policy is something like facebook's policy where you have a set amount of time. at facebook it's four months. whatever the company can afford. and then you have very strong messagings that everybody, menace well as women, is expected to take the leave. >> wait a minute. mark zuckerberg is also expecting. i haven't heard anybody talking about whether he's going to be

taking four months off. >> that's true. >> i think he is. >> that will be fascinating to see. i think he should. we're waiting to see what mark zuckerberg does. >> you know, while we're talking about all of this, we should point out that only 13% of americans even have access to this, that we are the only developed nation that does not have some federally mandated amount of leave time. do you think it's going to change any time soon? i'll ask you each that question. joan, why don't you kick it off? >> you know, the united states has the most family hostile policy in the developed public world. i'm sorry to say i don't see that developing any time soon. in the countries that have paid leave they have much stronger unions and a much more proactive attitude towards government. not sure i see changes in public policy i'm sad to say. >> stu, are you more optimistic? >> yes, i am more optimistic because i see a push for national legislation, next week

actually you're going to see news of a letter to congress that i and 150 plus of my business school colleagues from around the country, the top 25 schools and others, were writing this letter to members of congress in support of a family act which is just that. it's family medical insurance leave. will it pass now? probably not. but eventually we're going to see it. >> thank you both for joining us today. thank you. >> thanks for having us. now here's a look at what's making news as we head into a new week "on the money." stocks have the second best day of the holiday shortened week. all the major averages were up more than 2% on tuesday when worries about china eased though they gave some of that back. stocks are holding their breath until the fed meeting starts this coming wednesday. a closely watched indicator of the strength of the jobs market hit a record high? july. jolts which measures job openings, 5.8 million in july.

that's the most since the labor department started measuring it. a sharp rise could mean bigger paychecks down the line as demand increases. apple had a bigger week. the company introduced a new iphone 6. this is called 6s. it has touch technology that is 3d and a better camera and better chip. apple showed off a new, more power full version of apple tv which will start at $149. and if heating soup from the can is too much for you, you'll be able to make your soup with your k cup machine. campbell soup and keurig will have k cup pods. of course, the company's recommended running a hot water brew cycle without a pod in it before and after making the soup so your soup doesn't take like coffee and your coffee doesn't take like soup. we're "on the money." hitting the target might put your mind at ease when it comes

to retirement. later, don't want to wait in line for the new iphone? hire this guy, he will wait for you. right now as we head for a break, take a look at how the stock market ended the week.

i'm no good at what's going on in markets. i have no idea what i'll happen tomorrow or next week. sometimes they get very boggled like this, sometimes they put you to sleep. important thing is where they're going to be in five or ten years. i'm confident they'll be considerably higher in ten years. i have no idea where they'll be in ten days or ten months. >> that was berkshire hathaway chairman and ceo warren buffet talking about the future this week. if the man who some call the

oracle of omaha can't tell where stocks are headed, who can? that's why some people are using target funds and 401ks to take the guess out of it? >> sharon epperson is here. she has more. sharon, i know these funds are pretty popular. how do they work? what happens? >> they're very popular. a lot of folks use them as a default option when they don't know what to do. they work like this. they take the guesswork out, as you said, by becoming more conservative the closer you get to a target date. the target date is the date that you want to retire. so you'll start with mostly equities when you first get into it depending on your age and then they'll get gradually more vested in fixed income. retirement age, time around the horiz horizon, those are the main factors for figuring out what target day funds you want. >> how have they worked out? >> they follow a glide path. there's a different return for

many of them depending on how they actually glide in terms of how they move from equity funds to fixed income funds. when you look at some of the most popular ones, the ones where more folks who are retiring in 2015 there's a wells fargo advantage and then there's a fidelity freedom 2015. wells fargo warns fixed income. when we've seen the slide in equities over the summer and particularly in august. >> they got hit. >> they got hit but not as badly as the fidelity freedom. it's more in equity funds. >> should i think of this as something when you're young you should be 80% in stocks, 20% in bonds. when you get older you should be 70-30, 50-50. is it more complicated? >> no. that's how you think about it. a lot of people may not make those changes as they get older. >> the problem with this is sometimes they charge you pretty big fees for doing this just to be on auto pilot. >> 401k fees are something to

watch out for. for someone who's not inclined to do their own research in terms of investing for retirement, it's probably the way to go, at least the way to start out. for someone who has a lot of money invested in their 401k near retirement, it's very important to look under the hood and see what's in the target date fund. what fixed income mutual funds are in there. if it makes sense for perhaps some of the other assets in an ira or other 401ks for previous employers, it doesn't do that. it only looks at your age and time horizon. that's why some say it may not be good for some people. it doesn't take into consideration some factors that you need to think about. >> sharon, thank you so much. >> sure. up next, we are "on the money." how he turns your annoyance into a professional business. the fitness center and a sauna. we are not talking luxury condos

here. we are talking about student living. why college isn't what it used to be. more on that when we come back.

i was going to the library to do my homework.

it was a little bit of a walk to get to the bus stop. i had to wait in line to use the computer. took a lot of juggling to keep it all together. what's possible when you have high-speed internet at home? the library never closes. it makes it so much better to do homework when you're at home. internet essentials from comcast. helping to bridge the digital divide. like it or not, most everyone has waited in line for something, and usually we haven't been too thrilled at the prospect. but one person's annoyance is another person's opportunity. meet robert samuel, professional line waiter. >> good morning guys, professional line sitting for your next long line in new york. anything with a long line.

good morning. enjoy your sale. >> if i see that there's a line somewhere, i just try to avoid that. i am not a line person. unless it's pouring rain or something. no. it's just an hour. it's just time. >> maybe as far as retail, any things like that. >> if you want something enough, you'll wait in line for it. >> if it's like something i really wanted, like a limited edition, sold only on that day, 100 copies, it had to be something i really wanted though. >> good morning, ladies and gentlemen, are you ready for your cronuts? >> yes! >> hi. i'm downstairs at the cronuts. good morning. >> americans spend roughly 37 billion hours each year waiting in line. in fact, according to a survey by time mention, americans wait 30 minutes every time we visit a doctor. we spend 28 minutes in line every time we travel. the question becomes when is your time, money, waiting in

line for concert tickets or the next tech gadget, that's when you call robert samuel. he'll throw his weight around to make sure you get what you're waiting. robert, take a look at this. how did you get in your whole idea. i get it. it's a need. how did you come up with the idea of doing it? >> it was an accident. purely by accident. i was a cell phone rep and i lost my job earlier that year. i said, i need to make money. let me make somebody's iphone dream, you know, a little closer to their reality. so i put an ad on craig's list to wait for their iphone for a flat rate of $100. very cheap. very cheap because i didn't realize how long it would take because i've always been on the retail side, not standing on the outside waiting for the doors to open. when the doors opened up i imagined to earn $325 going back into line? >> yeah. my original customer who hired me, his online order went through on apple so he didn't

need me. he paid me $100 via paypal. as i was getting ready to leave, $100, four hours. what are you doing? you're number three in line for the iphone 5. we're talk willing three years ago, two years ago. he said, sell your spot. so i just musical chairs. actually, at that point i was musical standing. bouncing around. when the store opened i bought a phone that i had no intentions of buying. >> but now you've broadened out. you are much more than an iphone waiter. >> yes. yes. definitely. >> who are the people who are using your services? normal people, high end people? >> it's the gamut. >> i shouldn't say normal. really wealthy people or people like you and me? >> average people like you and me. i was telling someone the other day i had a middle school student that wanted to get cronuts for a high school class. where she got $60 to surprise her quote, unquote, boyfriend was beyond me but i was happy to

oblige. young kids, regular up earners, uber rich. very luxurious, you know, well-to-do people. i get everybody. >> what are you thinking about now? some events coming up. >> the iphone 6. >> yes. yes. >> september is always a good month for us. cronuts are still big, even years later. two summers have passed. >> for people who don't know that, that's cross soint donut. >> they're impossible to get. >> have you had one? >> i haven't. oh, my god, you must have one. >> what do you do while you wait in line? >> the best thing that i do because i'm the boss, i'm always on my phone texting, answering calls, answering e-mails. >> what's the weirdest request that anybody has made to this point? >> the weirdest request? i don't like to call any of them weird just in case they're watching. >> what's the most unusual? >> the most unusual. >> how about we do that? >> let's be pc. the most unusual is a cronut.

he wanted to impress two females. split the order. >> one way to increase your odds. >> hopefully no customer got one cronut and knows who i'm talking about. up next on "on the money" what are the moves for the week. if you need granite countertops and a fitness center where you live, get this, you might want to go back to school. . mom, brian threw a ball in the house!

for more on our show and our

guests go to our website. by the way, you can also follow us on twitter @onthemoney. here are the stories coming up that may impact your money this week. on tuesday we'll get retail sales numbers. of course that's always important because consumers make up more than 2/3 of the economy so we'll get a read on that. also on tuesday, industrial production is out. too big to fail, tuesday marks the seven year anniversary of lehman brothers anniversary. and on wednesday the consumer price index comes out. and the federal reserve's open market committee. the day they'll decide if the interest rates will go up. we'll get the decision on thursday. if you have fond memories of your college days, ramshackle old houses, think of this. one of the newest trends in student housing is luxury. diana olick joins us with the trend on granite countertops and

luxury. >> are you kidding me? >> it is the competition among developers. this luxury student lifestyle is getting ever more lucrative. the standard developed by athens based landmark properties is aptly named because apparently this is what students today demand. the resort style pool, fitness center, racquet ball, sauna, game room, private study lounges and granite laid denned apartment suites that would balance being at the idea of cinder block walls. the most expensive suites lease up the fastest. >> we're going to be catering more to the 10% of our unit types making them super premium. you know, offering larger square footage, more amenities for those residents, maybe two story rooftop town homes with private rooftop pat yoes. >> how do students pay for all of this? prices aren't much higher than on campus where costs have been

soaring. developers charge by bed, not the unit, they target big public schools which have lower tuition. landmark is taking the brand across the nation growing footprints and profit and as for the kids? >> what's going to happen when you get out in the real world and y'all can't afford all of this. >> i'm going to do that after college for sure. >> now even as the large millennial generation starts to age out of its college years, developers say foreign students will pick up the slack. they like the luxury lifestyle as well, they do have deep pockets. becky, i'm thinking about a ph.d. >> yeah, i think i'll be on the 12-year plan myself. that is ridiculous. i have so many questions about this. we talk all the time about how higher tuition prices have been a serious problem. >> well, actually, the colleges themselves like this because they really outsource it to developers, and it's a great pull-in source for the universities. big universities that want to pull in students. but the costs really aren't that much higher than living either on campus.

>> why not? >> or in an older building. they're not because the developers are doing this very streamline. they're charging by the bed, not by the unit so they're able to offer students, you know, lower end studios or, you know, they do have the penthouse suites, i don't want to talk about that. it's not that much more expensive for them because they can do this more cost efficiently. >> universities must be really bad at this because i had nothing that looked like that, the dumpy dorms. diana, thank you. >> sure. >> okay. see ya later. that's the show for today. i'm becky quick. thank you so much for joining me. next week, the big change coming to your credit cards that starts in october. each week keep it right here. we're "on the money." have a great one and we'll see you next weekend.

without the internet i would probably be like a c student. internet essentials from comcast has brought low-cost high speed internet into the homes of hundreds of thousands of low-income families. it lets students do homework and study at home. so far more than two million people across america have benefitted.

internet essentials is going to transform the lives of families. i see myself as maybe an entrepreneur. internet essentials from comcast. helping to bridge the digital divide. >> narrator: in this episode of "american greed"... they're called the "bling ring," a fast crowd of celebrity wannabes. >> accused of robbing some of hollywood's hottest young stars of jewelry and other items. >> narrator: and now they talk to "american greed." >> our culture in hollywood is extravagant. >> some people might strive to go to medical school. i guess in the l.a. area, young people strive to have rolex watches. >> narrator: but the bling ring steals more than jewelry. >> they weren't primarily motivated by money. they were almost taking pieces of the fame.