welcome to on the money. i'm sharon epperson. protecting your retirement. the growing movement in some states to make sure you save enough and why it's so controversial. the painful process of paying back student loans. what to do if you owe. don't look now, but holiday shopping season is almost here. a guide to finding the best bargains. what you should buy and when you should buy it. and getting into the groove. how vinyl is making a musical comeba comeback. we'll visit a factory where they can't send out records fast enough. on the money starts right now.

whether it's procrastination are or the reality of 4ri6ing paycheck to paycheck, more than a third of all americans say they have nothing saved for retire the. now some states are trying to change that with mandatory retirement savings programs. is it a good idea? that's our cover story this week. >> reporter: a movement for states to help offer retirement plans is under way across the nation. aimed at helping more than half of all u.s. workers who do not have access to an employer-sponsored retirement plan. the movement is gaining bipartisan support in many states. and legislation for state based private retirement plans has already passed in illinois, oregon and washington state. in illinois, any business with 25 or more employ years that has operated for at least two years must offer the state placed plan unless it provides another

retirement option. while it's mandatory for small businesses to participate, workers can opt out at anytime. in oregon, a similar plan is also expected to be implemented p by 2017. in washington state, employers with 100 or fewer employees can decide whether to offer to their workers. the state's marketplace is expected to be in operation by 2017. it will offer businesses access to a digital portal to locate private sector plans. and employers can provide a match of up to 3%, much like a workplace 401(k) plan. advocates say new automatic enroll the plans could boost retirement savings, but some employer and financial industry groups say state sponsored plans aren't necessary. theresa is an economics professor and andy is at the

financial industry trade group. and tell me about why states are doing this, why is this movement under way? >> about 15 years ago, the state of california contacted me and said we know that our residents don't have pensions, is there anything happening at the federal level to make sure that employers that once used to provide pensions aren't doing it anymore and that the plans that were there for retirees weren't adding up. people were saving thinsaving, were taking it out for life events. so the idea is that if the federal government is not going do something and everybody in cities and states know there will be retirement crisis, the states governors, controllers, said we should do something. >> but andy, your industrial group does not think that the states need to be involved in doing this. why not is this. >> we can all agree that americans can do a better job at

saving for retirement. but options or lack of options is not the real issue. it's really an issue about savings. we don't have an options problem. we have a savings problem. there are tons of options to this day, 401(k)s, 403bs, if you're in the public sector. we believe you should focus on the real problem at hand which is people actually saving and creating a culture of saving. >> it's interesting because this week the u.s. treasury department expanded the my ra program with the idea of, yes, let's get people to start saving for retirement and is this a federal program. how does this work? >> well, my ra has been described as a little bicycle with training wheels, that it's an option, sort of a public option for people who don't want to pay high fees in 401(k)s. but the employer doesn't provide any hatch for it. and the tax subsidies really don't help low income people. >> and you can only put in a

maximum of $15,000. >> right. sdwr t >> the desire of a program that you're in favor of, is it giving people training wheels? >> people today are not saving mostly because they have competing financial need and they don't think that extra dollar will do a difference. the great thing about the m.y.r.a. program, you can come in with a small balance, you can do $5 a month. and it's very portable. you don't want to create 50 new state retirement plans especially when the plans that exist currently are nearly trillion dollars kruunderfind u funded. >> people can only safer at work consistently. it's not habits, it's the design of the system. don't blame the victim, andy. >> thank you so much. it will be interesting to see how this percolates can many more states looking in to these

programs. time is running out on two popular strategies many couples use to collect social security benefits. in recent budget deals, these approaches will be eliminated in the next six months. one approach lets you file for the benefits once you reach full retirement age at 66 or 67, but you can request that the benefit not actually be paid. that way your spouse can claim a benefit based on your earnings and your own benefit can grow. another strategy couples use known as restricted application lets you receive a spousal benefit but not your own, that way you can still get your own payments but allow yours to grow. these strategies may be going away, but you can still maximize your social security benefits. >> if they haven't done it all right, set up the my account on the social security website and see what will your benefits be and what are your options. >> go to ssa.gov/my account to

set up your free personal account to keep track of your earnings and estimate your future benefits. now here is a look at what is making news as we head into a new week on the money. a much stronger than expected jobs report for the month of october before the economy created 271,000 new jobs last month. way above expectations. and the strongest number of the year. the unemployment rate dipped slightly to 5%, a strong jobs report increases the likelihood that the federal reserve will raise rights in december. the dow continued to climb early in the week. while the nasdaq hit a new 15 year high during the week. stocks climbed at the week's end. rubber hit the road for auto sales last month tracking an annual pace of more than 18 million vehicles in october for the second month in a row. that's the first time that's happened in 15 years. all the major automakers were up double digits. and if you like your book with a

dash of irony, this story is for you. amazon is opening a brick and mortar store in seattle. bookstore sales fell to their loes level in 20 years last year, at least in part due to online retailers like amazon. up next, we're on the money. school is out and it's time for many dwrautss to settle the bill. find out how to dig yourself out if you're drowning in student loan get. and designing your kitchen based on your personality. how a big home builder wants to get the most important room in your house just right. and as we go to break, a look at out stock market ended the week.

if you graduated from college last spring, it may be

time to start paying pack your student loans. for many, the six month grace period ends in november.pack yo student loans. for many, the six month grace period ends in november. we'll explain how repayment works. joining me now is a 2015 graduate of american university and the executive director of student debt crisis, a nonprofit organization aiming to refor how education is paid for. how big a problem are we talking about? there are a lot of graduates out there with a lot of money that they owe. >> absolutely. so currently we have 43 billion americans suffering with $1.3 trillion of student loan debt. put that in perspective, we're adding $3,000 per second to the overall student debt totals. undergraduate debt averages at about $35,000, but we see more than a quarter of graduate students that have over $100,000 in debt. >> now, katie, you greyou gradu may from american university.

how much did that degree cost you? >> i have about $90,000 that i have to pay back in debt. mixed between federal and private can debt. as i go and look at repayment options, i'm looking to a public service repayment program for my federal student loans. >> because you're working for a nonprofit organization now? >> yep. and then with the private loans i have three separate private loan, so i'm looking to sort of to consolidation. as it stand, that totals to about $300 a month to the federal government and $600 a month that i pay back to the private lender. >> so you're far ahead of a lot of borrowers out there who just graduated. a lot of people don't know where to start. how should they go about thinking about how to pay back the loans? >> so first and foremost, if you can make your monthly payments, stay on the standard repayment plan. you'll be done in ten years. but most people i work with can't. they can't pay the $900 per month or $1500 per month.

so we suggest going to the department of education's repayment estimator. and so what this is a cal cuellar tore, you put in all your loan information and it will tell you exactly what you'll pay for all the different plans. >> and these are federal student loans. >> federal student loans only. >> and the public forgiveness program that is if you work to for a nonprofit, then what happens? >> if you work for a nonprofit government are or even a church as long as it's not for spiritual or religious activities, ten years, 120 payments, and after that the rest of it, your loan is completely forgivable and nontaxable. with the repayment plan, you are taxed as income at the end of the repayment option. so at 20 or 25 years, your loans will be for given, but you will be taxed. >> going to the department of education website seems like the first place to go. >> absolutely. >> thank you so much. and most people need a loan to

buy a house and it is of course one of the most important investments you'll make so you want to do it right. a new home builder is trying a new approach that that's what you get. diana olick explains. >> reporter: in a nondeskricht warehouse just outside atlanta -- >> talk about functionality. >> reporter: homeowners are describing what they like in a kitchen. and what they don't. >> i think it doesn't have enough seating if you're entertaining. >> reporter: it's all part of a push by one of the nation's largest public builders to hone in on an increasingly picky and price conscience consumer. create the kitchen based on the buyer's personality. >> kitchens are the focal points of the home again and depend our buyers tell us if you get one room right, get our kitchen right. >> reporter: on they invited suppliers to not just show their wares, but build kitchen models

with those wares so they could be shown to focus groups. >> everything has to be in its right place. >> reporter: it's not about whether you're a home chef or you cook to survive. it's about lifestyle and life choices. builders today need to indicator not just to suburban families, but to young any helpials who wait longer to have children to down sizing baby boomers and to a more urban social higher end 2k3457bd. >> you're talking price points of 400,000, 500,000 in many cities. >> reporter: by investing in research now, pulte claims it will ultimately save money. >> your kitchen was closed off and that's how you liked it, you're probably the person who doesn't want to entertain. >> reporter: by investing in research now, pulte claims it will ultimately save money, no more gambling on local designs. instead, homing in on both who their buyers are and exactly what they want and then building on that. i'm diana olick, outside

atlanta. up next, we're on the money getting ready for the holidays, whether you're planning to spend lessor save more, find out where and when you can get the best deals. and if you think the music industry issing for in circles, you may be right.

'tis the to shop.

retail sales are expected to increase to $630 billion in 2015. many retailers have started to release details will markdowns earlier than ever before. vera gibbons is here to tells how to get in on those deals. is this amazing that we're talking about this. we just got through halloween and now we're talking about the thanksgiving deals. my son already had his christmas list ready for me. >> amazon is running deals all month long. you have walmart running geels. you've got target, k-mart has brought back the through light specials. all sorts of stuff is on sale from tvs to laptops. >> so all that lining up waiting for black friday, are people doing that anymore? >> you don't have do that. all the people who leave the table to line up at the door, a lot of that stuff is available online. the vast majority of the door bussers, available online with the exception of a few things. >> so if i'm getting it online,

do i need to wait for cyber monday? >> the deals continue, right? they have already started, they go thanksgiving day, black friday. the difference between cyber monday and thanksgiving and black friday, though, is that's when you see the store wide sales. like 20% to 60% off everything. it's a better day generally for clothing than black friday and thanksgiving. you see 45% more clothing deals than you do on black friday. so it's not about electronics so much, but more clothing, shoes, good day to bhooi butuy beauty . >> and what do i want to get now? as the deals are starting, is now the time to get the electronics or toyota toys? >> yes, because some could be sold out by black friday, specifically the hot stuff. and yes rk, parents are nervous

about that. so if you want a hot toy, do it sooner rather than later. but as far as electronics goes, we're seeing that stuff now. some very good deals on tvs are already starting to roll out. sam's club has a one day sale coming up. last year we saw the laptops at $99, and we could see that potentially again this holiday season. >> we have to start shopping. >> yes, and make sure you're getting the best possible prices. >> thank you very much. up next, on the money, a look at the news for the week ahead. and everything old is new again. the comeback of vinyl.

for more on our show, go to our website otm.cnbc.com. and follow us on twitter. here are the stories that may impact your money this week. earnings season is winding down, but cisco is reporting along with retailers macy's, nordstrom, jcpenney and kohl's and as well as priceline. monday marks 26 years since the fall of the berlin wall. it separated west berlin from the communist east from 1961 to 1989. on tuesday, we'll get import and exabout port prices for october. wednesday is veterans day. u.s. markets will be open, but banks will be closed. and friday brings the closely watched retail sales number. history is reputing itself in

the music industry. and it is of all things vinyl. kate rogers is it here with that story. >> in 2014, more than 13 million vim lps were sold. the last time that p had, 1989. it's safe to say vinyl is back. take a look and a listen. that's the sound of demand for vinyl records of all things. in a world where digital music reigns supreme. in fact independent record pressing in new jersey is aiming to manufacture 1 million records this year. >> that will be capacity. demand far exceeds that. we'd be able to run these presses 24 hours a day 7 days a week and still not be able to meet demand. capacity really the choke point in the vinyl industry right now and while you're hearing about the resurgence, there is such a demand compared to what the capacity is. >> reporter: and in a strange turn of events, he thinks it may

have been digital music that has created a resurgence in vinyl's popularity. according to consumer research group music watch, half of vinyl record buyers are younger than 25. >> i really believe that digital hasback of vinyl because digital strips out the tangib tangiblity. and vinyl is such a great tangible piece. >> reporter: and these machines are actually more than 40 years old and in that time period, not much has changed in terms of how they operate, but if does mean if one of them actually breaks down, fixing it can be both time consuming and costly. it takes about 25 to 40 seconds to make one record. >> the process begins with the raw vinyl being put in the machine behind me that you see in the hopper. and that raw vinyl is then heated somewhat like a big spaghetti maker.

>> reporter: the veenl inyl is d and pressed. from there cool eed and trimmed. next up, spot tested for quality. ♪ so with vinyl back in vogue, only one question remains. will cassettes be next? >> you hear a lot about the cassette comeback and again, i think people aren't going to cassettes for the cassette audio. really the cassette is, you know, inferior, but it's a cool medium. >> vinyl lovers say the difference between digital and vinyl is all in the quality and the richness of the sound. >> such an interesting story. i'm wondering, is it new music that is being put on vinyl or old music and just redoing some of the old records? >> independent in particular is doing a ton of these labels like

vampire weekend. but what i think is interesting when you go into urban outfitters, you see taylor swift lps. so definitely two sets of listeners. but what i thought was really most stunning was the staff that half of them are under 25. >> that's the sho foe todw for . next week, more restaurants are adding no tipping to the menu. is it a good idea or will you be paying more even without gratuities? each week keep it here. we are on the money. have a great one and we'll see you next weekend.

we are live at a very balmy nasdaq market site. i'm sara eisen in tonight for melissa lee. the guys are getting ready behind me. while they do that, this is coming up. >> we're out of gas. >> and that could spell trouble for one dow stock. we'll give you the name and how to profit. and how would you like to make money if amazon shares go up, down or nowhere at all. >> it is a good question. >> and we have the answer, jeff. we'll break it down. and -- >> they're cool and available and addictive. >> which might explain why cigarette stocks are surging. but if you missed the run, we'll