hi, everyone. welcome to "on the money." i'm kelly evans in for becky quick. finding your true love online. the big business that's winning hearts and minds. building a future. how airlines are taking on projects that the government is not. and protecting your retirement money. the new rule president trump wants to delay. will it mean more choice or safer savings. raising money savvy kids. what every parent should know about the financial facts of life. plus the sweet taste of success for mr. chocolate. why jacques torres loves valentine's day. "on the money" starts right now. this is "on the money." your money, your life, your

future. as valentine's day approaches we begin with online dating. meeting your match through a website seemed less than romantic a decade ago. today that stigma is gone. online dating is growing faster than ever. the business of love is our cover story this week. 109 million americans are single and finding a perfect match is a really big and profitable business. the dating services industry cashed in $2.7 billion in revenue last year and will grow more than 5% this year. nearly half of that revenue is from online dating sites like match and eharmony. 26% comes from smartphone dating apps like tindr. match group is the largest company in the business with more than 45 brands, including ok cupid, plenty of fish, r

time, and harmony. internet dating companies charge for monthly subscriptions and more americans of all ages are signing up. over the past three years the number of 18 to 24-year-olds using online dating has surged nearly to 27% and the number of 55 to 64-year-olds looking for love online has doubled to 12%. launched in 2000, eharmony was one of the first online match akers with a rigorous questionnaire. with apps offering instant matches can eharmony compete? greg langston is the ceo of eharmony. welcome. >> hi. >> so, online matches have become more like speed dating today. your approach is more slow and time consuming. is there a way you can do both? meet both needs? >> well, yes. when i started as ceo six months ago i hit the ground with a lot of ideas because i had been with the company for a long time. one of those ideas is just to make the use of our service easier. we don't want to change what we're doing or the mission of the company. we're always about trying to find you your last first date,

but we want to make it as easy as possible to do that. >> so today you don't make everyone fill out 150 questions. >> we don't. >> how do you make informed matches with less questions? >> well, if you were going to take ten questions, if that's the number that you think you can stand to get through, then you're going to get matches that are less compatible, but the point is we want to get you in the tent, start encouraging you to move towards more questions and better matches. >> so after years of connecting people at your company, what have you found are the attributes that are most important for people to share in common? >> well, the truth of the matter is you just need a lot of them, you know? it's a broad-based compatibility that makes people happy together for a long time. if i had to pick one that makes really makes a lot of difference, it's adaptability. people that are very adaptable match with a lot of people. people that are rigid, not adaptable, it's harder to match them. >> that's interesting. i was going to ask you if opposites attract? >> opposites attract and then they attack.

>> oh. >> yeah. opposites are not what you want if you're building an enduring relationship with somebody. >> who is using eharmony these days, is it 40-year-olds, 30-year-olds, younger groups, older people? >> for most of our history the average age of user was about 36, 37 years old. in the last five years as free apps have brought a lot of 20 somethings into the marketplace, the average age of our user has gone down to about 30 because of course people start with free sort of swiping casual connection apps and if they don't get what they want they tend to drift to us. >> so you're seeing a 35% increase if i read this right -- >> yeah. >> -- in users since the election. what do you think is going on there? >> well, there's two things. one is of course now we're into the high season around new year's, christmas, valentine's day you get a natural boost. but something happened early november, and be i think what that is is the world just got a lot less predictable. whatever your politics are, the world is less predictable than

it was a year ago. people want to be with someone in that kind of environment. we saw the same thing after 9/11. i was at the company then and people just want to be in a relationship. >> they want that stability? >> yeah. >> wow in their lives. thank you very much. fascinating stuff. appreciate it. >> yeah. now here's a look at what's making news as we head into a week "on the money." a big stock rally. all three stock index closed at record highs this week. stocks moving up on hopes of tax reform after president trump said a proposal would be coming in the next few weeks. the dow set a new mark on thursday and opened higher again on friday. the nasdaq and s&p 500 following suit. stocks continued to climb at the close on friday. a huge deal in the health insurance industry may not be feeling too well. a federal judge blocking health insurance giant anthem's $48 billion purchase of cigna. the judge cited anti-trust regulations and said the merged company would dominate the market. anthem says it will appeal the decision.

if you're spending too much time on facebook, well, you'll have another excuse soon. the company is reportedly going to develop original tv shows. facebook is hoping to siphon more advertising dollars away from tv by developing its own content. most of america's airports are in pretty bad shape. at a meeting this week with airline ceos, president trump called them obsolete. no major airport has been built since denver opened 22 years ago. instead new terminals are being added to old airports. phil lebeau went to utah and found airlines are paying for upgrades. >> reporter: fly into salt lake city and you'll find an airport that looks far better than others in america, but underneath it is straining, handling twice as many passengers as it was designed for when it was built in 1961. so right next to old terminals salt lake is building an all new airport. the cost, $2.9 billion. >> in many cases airports particularly you end up building on the same footprint you're

occupying. so oftentimes you're trying to remodel the kitchen while you're trying to cook thanksgiving dinner. >> reporter: phase one won't be done until 2020. when it's completely finished in 2023 even more people will fly into utah's capital. fact is, the number of people flying in the u.s. keeps soaring. there are more flights, more congestion and more talk that fixing america's airports will have to include alleviating traffic jams on the tarmac. >> there's a huge amount of money that's needed to invest in airport terminals, but also on the runways. we need more runways. >> reporter: it's estimated fixing all of america's airports could cost up to $75 billion. more money than what congress is likely to authorize, so airlines like delta are stepping up. it's investing in new terminals, including at its hub here in salt lake city. >> security, gate boarding, check in will all be completely revamped.

>> reporter: an investment in the future of travel as more americans than ever take to the sky. the question will be, kelly, how quickly can the federal government really open up those pursestrings and accelerate getting that money to the airports because as you know, it takes a long time for these projects to be developed, let alone actually completed. >> phil, as you mentioned, the timeline is so critical to the airports. what are we talking about in terms of that timeline? >> reporter: i think that if you're looking for a new terminal or a new runway at an airport and you're in a particular big city, many years down the road. i'm talking three to five to seven years down the road depending on the project. it just takes so long for these things to happen, and, yes, the federal money is a key part of that. that is actually the beginning. it's later in the construction phase that it will really take up the time. >> i'll hold my breath until then. thank you, phil. up next, we're "on the money" saving for retirement. if you get professional advice

when it comes to your nest egg, will it cost more if there's more regulation? later, you can't always get what you want. how to teach that money lesson to the kids. now a look at how the stock market ended the week.

it's hard enough to put money aside for retirement let alone how to make it grow. that's why there's a whole industry around giving financial advice. it's a funny sounding phrase but there's a new retirement rule that could have an impact and it's called the fiduciary rule. americans have more than $24 million stashed away in savings,

and more than 24% use financial advisers to help them decide how to invest but they could be steering you to investments that they make money on and that depends on the rules they follow. the fiduciary standard is a strict rule that requires those investing to put the interests of those savings for retirement first before their own profits. here's how it works in real life if your adviser is looking at two similar investments with the same fees, under the fiduciary standard, he or she must recommend the cheaper option even if it means the adviser or their company makes less money. right now investment advisers registered with the securities and exchange commission must follow the fiduciary standard but brokers follow a less strict rule called the suitability standard. they could suggest investments that give them a bigger commission even if there's a similar but less costly alternative. the obama administration put the fiduciary rule into place. president trump recently issued a memo asking for a review of

that. joining us is aarp's director of financial security and ken benson, president and ceo of sifma, an organization representing broker dealers, banks and asset dealers. welcome to you both. ken, the goal of the rule is to help financial advisers put client interests first, and it seems simple enough, but you think there are unintended consequences. what are they? >> we think the way the department of labor wrote the rule is that it adds another standard on top of multiple regulations that already exist and a better approach, which we've argued for since 2009, would be to have the securities regulator, the securities and exchange commission write a singular standard for all accounts, not just retirement accounts because every account effectively is a retirement account whether they're tax qualified or not. this rule doesn't do it, it's very prescriptive and we're seeing the impact as firms move into compliance that it's leading to less choice and higher cost. >> do you agree with that, christina? >> no, absolutely not. here's the issue.

first, the s.e.c. has had ten years to act in a single rule, and it hasn't. the department of labor has stepped in and has said, people want advice in their own best interests. it makes sense. it's something that we hear from our members all the time, and the rule is not prescriptive, it simply says, look, you've worked hard for your retirement nest egg, you're looking for advice on how to invest. it's reasonable to expect that your interests come first. there's nothing complicated. choices have not been curtailed and the department of labor has given industry lots of different ways to comply with the standard. >> christina, do people realize their financial advisers may not be acting in their best interests? >> we have surveyed our members as well as our retirement savers many, many times over the years, and there's two things that are clear to us. almost every single individual wants advice in their own best interests, number one. and second, many don't know that that's not already the law.

when we explain to our members that that's the case, that this rule is giving them that advice in their own best interests, everyone overwhelmingly supports it because that's what they expect. and increasingly, that's what they're demanding from the market. >> some big firms like merrill lynch are already complying with this rule and sound like they're not going to reverse so why shouldn't the rest of the industry do it, too? >> we started working with our members to work towards compliance even if we have issues with it because we're a highly regulated industry and we have to comply with the rules. we think there's a better way to do it. to be honest, christine and i obviously disagree on this, but we're seeing where firms are now saying to come into compliance with this rule, we're going to limit the use of mutual funds, force you to be in a higher cost managed account because we don't want to take on the additional legal liability that's associated with it. we don't think that makes sense. we think that there's a better way to do it. >> christina, even if this doesn't go forward at the government level, this rule, are

the changes you're talking about already taking place in the marketplace? >> they are already taking place, and i think that anyone who does not care to offer their clients advice in the best interests of people saving are simply not going to survive. the competition will say, look, come to me, i'm putting your interests at first. the market is already moving. whatever happens with this rule, fiduciary is here to stay. >> this is where christine and we do agree. we do want a best interest standard. we just don't think this is the best way to do it. >> thank you for joining us. kent and christina. up next, we're "on the money." if a weekly allowance teaches your kids about money, does paying for chores do the same thing? later, chocolate. we're going to have some sweet ideas for your sweetie this valentine's day.

teaching kids about money can be a tough subject, so how do you equip your children to make good money choices when you're still trying to get smart about money yourself? beth kobliner is author of "make your kid a genius even if you're not." why is it hard for parents to talk to their kids about this? >> i think it's a topic we're scared about as parents. we think we don't know enough. we're afraid we'll give them the wrong information, but the truth is there are so many things we can do as parents and starting young is the first thing. >> what should you be saying as you start and as they get older? >> right. one of the most important lessons is waiting. we wait for our swings, we wait for our birthday, we wait for

the holidays to come around. when you see something you want you have to wait and save up for it. you have to put aside a little bit of money, have a glass jar, let them see that. and have that goal, but saying instead of buying a snack every day after school you could put that dollar into this jar and you can buy that lego kit you want. >> this brings up something i wonder about a lot, how do you teach the value of cash in a cashless society. >> when i was a kid, maybe you when you were a kid, you saw your dad sit and write checks and your mom. >> and your mom, exactly. >> so we saw what it meant to pay bills. we saw cash exchange. nowadays little kids never see, they see magic card swipe. it's so important to give kids cash. start using cash. use cash in front of them for an allowance if you give your kids an allowance. >> i'm going to start using more cash myself. is there anything you should steer clear from? what should you not tell them

about or keep secret in terms of finances? >> right. you don't necessarily need to tell your kids your income, especially if you have little kids. if you do, you're going to hear it at the pta meeting. i hear you make $100,000. congratulations. but you can talk about we are comfortable. we save our money. or we're trying to save or money. there are some things we really want even me as a mom or dad but we can't buy, but we're saving up for something. i think using that kind of language is really important for little children. >> do you think a weekly allowance is a good idea? what about paying for chores? >> right. i think you should not pay for chores. >> really? >> yes. the research shows -- interesting research looks at chores. it says if you start chores at a young age, chores have to be part of a family responsibility. you're a team player, and that sense of responsibility has been shown as one predictor for your child's ability to get a degree or start a career. that feeling of i'm doing this because i'm part of the family is more important than giving them money to do it. allowance is good, but you have to be clear, consistent, not tie it to chores. >> there's a bunch of great

stuff in the book, not just for kids. i read it myself. took a lot out of it. thank you, beth kobliner. >> thank you so much. up next "on the money", a look at the news for the week ahead. not sure what to get your valentine? mr. chocolate what you covered. >> we are making some beautiful lollipop that maybe they are not that innocent.

now here are the stories coming up that may impact your money this week.

on tuesday we'll get the producer price index which tells us if there is inflation from wholesalers, and don't forget about valentine's day or you might end up sleeping on the couch. on wednesday we'll get the read on retail inflation with the consumer price index. we'll also get retail sale s s see how strong consumers are. back in 1972 president nixon departed for a trip to china becoming the first american president to visit the communist country. valentine's day is just around the corner. if you haven't thought about what to get your loved one, we have some ideas. joining us now is chocolatier and business owner jacques torres, also known as mr. chocolate. >> welcome. >> bon jour. >> should we assume valentine's day is your biggest time of year? >> so valentine's day is the biggest sale day of the year. the biggest holiday is christmas. >> okay. >> why? christmas you're going to buy more gifts for many more people than valentine. you're supposed to buy only one

for valentine. >> let me ask you because you have eight stores here in the city. what difference does it make in the way people are shopping online? they might be watching this thinking, geez, how do you get some chocolate to people by tuesday? >> lately, millenniums will not go to the store. they will go to a store if it has an experience, if they're going to learn, if there's something special about it, otherwise business is online. >> but it's hard to ship chocolate, right? doesn't it have to be kept cool? >> the good thing is chocolates are during the cold months. during the cold months i can send ground. that's not the problem. the problem between spring and fall when you send ground and the chocolate melts, you cannot do that. you need to send next day and that costs a fortune. >> let's talk about what you've brought here with us. >> yes. >> i believe this one made a little debut on television a moment ago. explain how this phrase came to dominate your chocolate lollipop. >> basically, i used to do the big lollipop and with big love

on it. i would make a big bouquet in my store. those lollipops do not move. i asked my staff, please bring them back and we are going to change them. i removed the love and i wrote on them spank you, spank me. i put them back into the store. >> suddenly they were -- >> omg. we sell a lot of them. >> along with those what are your most popular? >> we have a kids game. when you open the box of chocolates you have -- it's pretty regular box of chocolates but you have rules here. the rule is you have to say kiss me, when you remove the chocolate, it gives you a place with a kiss. >> he removed that piece of chocolate, it said "on my nose." this is one of your top sellers, these hlollipops, you mentioned as well. >> yes. >> the big hot dog. this is classic for your mom.

this is what you buy for the first date. this is something a bit safer, classic, beautiful boxes. we have nice hot chocolate in it. >> what do you think is the next trend? >> today people are very careful to their health. they don't want too much sugar. if you don't want very much sugar, you have to use higher cocoa beans. wut high put higher cocoa content. we buy the expensive beans. >> i'm going to start snacking if you don't mind. >> thank you for inviting me. >> jacques torres. that's the show for today. i'm kelly evans. becky will be back next week. thank you for joining us. also next week, lego is the world's top toymaker. is working there as much fun as playing with the plastic bricks. each week keep it here, we are "on the money." happy valentine's day, and we'll see you next weekend.

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