hi, everyone. welcome to "on the money." i'm becky quick. worried about your retirement? a new plan that's not an ira or 401 k. how and why women need to think differently than men and women do. and why ikea is a pretty good place to work. and the return of the travel agent with this time with a twist. "on the money" starts right now. >> this is "on the money," your life, your future. now becky quick. >> we begin with your retirement.

do you have enough saved for when you stop working? if you're like most americans, the answer is no. more than half have $10,000 or less put away. the question comes with the question about social security. retirement in the u.s. is becoming increasingly self-funded. in 1979, 38% of private employers offered pensions. now it's just 13%. a guaranteed retirement benefit is still common for government workers and union members, but private employers are more than likely to offer 401 ks. the 401-k accounts can rise and fall with the stock market. the great rescission of 2008 wiped out the retirement savings of many americans. not all workers have access to

401(k) plans. more than 30 million americans have no access to retirement plans because they work for small businesses. one third of americans have nothing saved tore retie-- for retirement. it's even worse for women. our next guest says most won't have enough saved to retire comfortably unless the government starts making changes. theresa is the author of "rescuing retirement." thank you for being here today. >> thank you. >> you called the retirement crisis one of america's biggest challenges. what is it? >> we've been trying to fix the 401(k) system and ira system and we concluded it can't be fixed. our solution is everybody will have a retirement account, they'll save to supplement their social security.

that will be invested in a pooled account. it will get much higher returns than any 401(k) or ira could get and it can't be touched before retirement and at retirement, the worker and their beneficiary will get a stream of income to supplement their social security. >> how would this work? is this something where your employer would take the money out of your paycheck as it comes lieu? >> that's right. >> i can imagine a lot of pushback who say i'm already taking stuff out for social security, i don't have it right now. >> you would imagine that but survey after survey, people are asked do you want coyour taxes go up? they say no. do you want to rely only on social security? they say no. do you want to be forced to save? they say yes.

>> how much of your money -- >> people need to save about 10% if they saved nothing at all in their 40s. if they start when they start working, we calculate a 3% contribution, half from you and half from your employer. our plan has a 3% minimum and we would encourage people to save five. i save ten, you probably save ten. >> at this point i'm trying to save 11. the key is if you start early, you don't have to do as much. that's the huge thing, the compound interest that people don't understand until you get older. >> we don't give much to our young but we do have time. >> do you think this is something like will be likely embraced by the new administration? >> it really is up for grabs whether or not the new administration will want to meet promises of the people who put him in.

middle class and middle-less voters are very concerned about their retirement. >> i man people would say before we start thinking about new programs, why don't we try to strengthen existing programs, whether that is medicare or social security? >> my co-author tony james and i would say social security and medicare have to are shorn up before we can tell people to save for their retirement. without social security and medicare, no 401(k) or ira will make them secure. >> can you look at other jurisdictions, other areas where maybe it's worked? >> australia, canada are really close in culture and neighbors to us have a universal pension system on top of their system. but even in the united states, we have pockets of people who have this system, union members, government workers have a system just like ours. and we just want to make sure

that everybody has what the privileged in america have. >> that's great. theresa, i want to thank you very much for your time today. >> thank you. >> now here's a look at what's making news as we head into a new week "on the money." retail sales rose 0.6%, a little below expectations. auto sales helped power the number and internet retailers were strong, department store sales were soft. the nasdaq broke three consecutive highs on thursday before hitting a fresh one on friday. the dow and s&p were up on friday. amazon is hiring. it will soon create another 100,000 full-time jobs, all with benefits by the year of 2018. your cup of morning joe could cost you more soon, a price

increased announced for coffee products including folgers, dunkin donuts and cafe stelo brands. >> detroit is switching gears. we're talking about where the cars are made. as much as any industry, the auto industry is feeling pressure from the next inhabitant of the white house. phil lebeau has more. >> reporter: beyond the bright lights and big productions introducing new models, the biggest presence at the detroit auto show is president-elect donald trump. he's on the mind of everyone here, realizing trump wants more jobs created in the u.s., not overseas. president-elect trump tweeted saying "it's finally happening.

fiat chrysler just announced plans to invest $1 billion in michigan and ohio plants adding 2,000 jobs." >> it's an incredible emphasis that trump is making so the american-made products and american production, but i think the substance of the announcement was inside the house for months. >> the move comes a week after ford scrapped plans to add a plant in mexico and favor expanding a current one in michigan, where it now says it will build a new version of the bronco suv. >> there's a lot of web out there. you go on lots of web sites and we're bringing that vehicle back in 2020. >> the fact is america's appetite for suvs and trucks has never been greater. they were the driving force behind record auto sales last year. consumers are more than willing to pay a little more each month in order to have a little more room on the road, which is why a slew of redesigned and new suvs were unveiled in detroit. the question now is whether

changing political winds in washington will mean more of those models being built in the u.s. >> gm's ceo says her company has no plans to change where it builds vehicles, including mexico. the question is how quickly the numbers could change if the president-elect succeeds in getting a border tax on mexican-made autos. despite the uncertainty of what lies in the future with the trump administration when it comes to the auto industry, almost every executive in detroit is optimistic there will be strong sales in 2017 and looking out over the years. >> up next, closing the gender money gap. advice for women on careers, finances and why they have to do thanksgivi things differently than men do. and later, is ikea moving away

from brick and mortar? and right now, though, a look at how the stock market ended the week.

. ikea began in sweden 74 years ago. if you never had an apartment or just graduated from school, you probably assembled something that came from a massive ikea store. lars peterson is the ikea u.s. president. thank you for joining us today. >> thank you, becky. >> who is the average ikea customer right here in the united states? >> actually, our mission is to create the better every day life for the many people. and we have seen that we have a very broad customer base and we are actually -- we are really obsessed by people's life at home, regardless of the size or

the income of the people living there. we see everything from people living in extreme small spaces in the city to the suburbs coming to ikea. >> you have about 43 united states stores. are you planning to expand into more brick and mortar stars here in the united states? >> yes, we are. we are still small on the american market. 43 stores for us is a lot but there are many people that we're not reaching here in the u.s. so we're expanding our e-commerce business but also building more brick and mortar. we see it very important to be accessible, also in a way to show our solutions in a three dimensional way in our stores. we're going to build some more stores. next one is in columbus, ohio, and it going to be in indianapolis, jacksonville, florida and so on and so on. >> so you're moving into the heartland. i think of you as being a northeast company. >> we are already close to the coast and we are moving into the

center. we have now open in kansas city and st. louis but also in the south. in texas we are underrepresented. weep are working really hard to get more opportunities there. >> lars, ikea is a global company. right now there is a lot of talk about changes in the free trade policy, the trump administration has been talking about this pretty tough for some time. are you concerned at all about any potential changes when it comes to free trade? >> we are producing a lot of products here in the u.s., around a fourth of everything we sell is produced here. we would like to continue to expand that production. that of course we -- being a global company, we are very much for a liberal trade policy because that helps also the customers to better prices and better quality. we are looking at of course a lot of different solutions for lower prices and one is of course to produce in different countries, but we with like to do more here in the u.s. and

that is also helping us for a lower carbon emission, for shorter transport distances. we see an opportunity to produce much more here in the u.s. >> you just started a parental leave policy where you give employees up to four months off with pay. you think of something like that you see in the silicon valley company. do you need now? >> we are trying to create a better life for many people. that includes employees, what we call co-workers. we would like to do so much more for them so they can say ikea is a great place to work. that investment is going to be a very good investment for us in the future. we see we will have lower staff turnover, we will have our co-workers will feel better, i don't need to switch jobs just because we are welcoming a new member to their family. we two times the last couple of years we have increased the

living wage in all our stores and we will continue to look at more solutions. >> lars, thank you for joining us today. >> thank you very much, becky. >> up next, we're "on the money." elevating women. advice for women to grow their careers and wallets. and later, there's a new app with a real live person at the other end ready to help plan your next getaway. ...two times the odor-eliminating power to... ...remove odors you've done noseblind to [inhales] mmm. use febreze air effects, till it's fresh and try febreze small spaces... ...to continuously eliminate up to two times the odors... ...for 30 days febreze small spaces and air effects, two more ways... [inhale + exhale mnemonic] to breathe happy.

talk about power, women control 80% of consumer spending and we are more than half the workforce. still we have a long way to close the investment gap. >> welcome, sallie krawcheck. first of all, congratulations on the book. thank you. >> we as women have a number of money gaps. we don't invest as much as men do, which can cost hundreds of thousands if not millions of dollars. things cost us more. we have a gender degap. we have all kind of gaps as women. we have lots of resources and power but we don't have as much

money as the men do and we're not going to be equal until we're financially equal. >> that sounds like a daunting series of things to overcome. how do you suggest we go about trying to fix some of those things. >> that's partly why i founded e ellevest. i say investing is the best piece of career advice women aren't getting. if you are earning the money, putting it in the bank and not getting the higher returns investing can lead to and you don't have as much money as the guy does, do you feel better

going into your boss's office to ask for a new assignment, to ask for a raise or leave a bad relationship. we don't have to wait. we have got power now. we have the power today unlike what we had four or five years ago, to buy from companies whose values align with ours, invest and work for companies whose values align with ours because there's so much more information out there. when i was younger if a company didn't treat me or women well, i'd stay or go to another company. today i start my own business. >> what's the message beside from owning it. if there's withone thing you ha tell woman, what would it be? >> i'd say we bring great qualities to work, the relationships, the ability to see things wholistically, if

companies don't value us for who we are, we now have choices and power we didn't have a handful of years ago. the world is coming our way. we can't continue to do what we did before because our advancement in business stalled out. >> thank you so much. your book is called "own it. the power of women at work." >> now a new digital startup is looking for a few good travel agents. how will this work, you ask? the answers when we return. because i'm a woman,

do you think i'm going to crack under pressure or conquer the field? defy expectations any day with always infinity. made with flexfoam, absorbs 10x its weight. rewrite the rules. always.

>> for more, go to our web site. here are the stories coming up that may impact your money this week. the market will be closed on monday to observe martin luther king jr. day. nd in switzerland, leaders will gather and i'll cover the event. "the beige book" will be released. friday is inauguration day. that's when president-elect trump will be sworn in. we'll cover that as well. >> remember travel agents who helped you plan your trip? paul english has started lola, a new travel app that connects you to a relive travel agent.

kind of back to the future. thanks for joining us. >> thanks for having me here. >> you created this thing that is going to allow me to talk to a real travel agent. why did you decide we need the travel agent back? >> one of the things at kayak, i led the travel design but i also enjoyed talking to people every day. we published the phone number and i loved learning from customers every day. with my new company, i thought i'd take it to the direct level and a human can book it for them. there's a lot of things a travel agent can do you can't do on your own. >> for example what? >> when you use lola to book a hotel, the travel agent is call the hotel, check you in and get you a free room upgrade. >> so it's like a concierge

service. i appreciate that but are people ready for that? >> when you download the app, it's a messaging app, which means you don't have to talk. we have people who like talking on the phone, doing e-mail, most of our customers like typing. >> do you actually learn a lot from the interaction between the agents and the people? like you said it was the bat phone, the red phone, what kind of things do you learn? >> how often people plan travel in advance. it's fun watching people early in the process thinking about where they want to go on vacation. >> how do you make money? >> lola makes money the same way most travel companies make money, which is a commission largely on hotels. >> meaning the consumer pays it or the hotel pays it? >> it's the same price. if you booked a hotel at hyatt.com or through lola, you

pay the same price but the hotel pays us a commission. >> the lyrics of "lola" going through my head, it's not exactly the same. >> no, that's not the case, longitude-latitude, that's the name. >> i'm going to try it out. that's the show for today. thank you for joining us. next week we inaugurate a new president. what will the next four years mean for your money? we're "on the money." have a great one. we'll see you next weekend.

>> hey there. we're live at the nasdaq. here health insuran here's what's coming on the show. >> the money is definitely coming into netflix. >> and that's what traders are saying about the run at the banks. and there's one name that could come into the crosshairs next week. we'll explain. >> and it's the one dow stock some traders say is poised for a bad fall. and here's a hint.