hi everyone. welcome to "on the money." i'm becky quick. the summer is almost over. some companies are offering workers a whole lot more than vacation time. what they're doing to find and keep employees the bitcoin millionaire who lives in a tree house. why you might is ask >> so you live back here. >> yes this is where you enter wonderland. >> financial lessons to be learned from the late queen of soul what she didn't do that you should and getting and giving, how buying something for back to school can help children in need "on the money" starts right now.

we begin with your benefits. with the unemployment rate below 4%, companies are getting creative when it comes to offering perks to try to attract and retain top talent. it's why some businesses are giving employees more time out of the office in order to keep them from leaving the office for good that's our cover story eric has more. >> while lebron james is vacationing in the caribbean, there's no off season when you work with the nba league office. it's become a 24-7 operation all year long. for kerry to the lock, senior vice president of global marketing partnerships, that means constant travel, meetings, late nights. for other employees, it could moon burnout that's why in 2015 the league created a new benefited offering employees with ten years of service, a fully paid four-week sabbatical at 20 years, they get eight weeks off.

>> i call working at the league a way of life. you have to f love it, be part of it, accept it's a gay of life it's good to recharge. >> for some employees a sabbatical has meant quality family time. for others travel. for everyone a rare chance to turn off their phones and unwind knowing their job will be waiting for them upon return. >> we went to europe for three weeks and to germany and italy we did the quick turn-around and ended up going to western massachusetts for a week i indulged in camp drop-off and pickup, making lunches, cooking dinner being there every night for bedtime for the kids it was as extraordinary as the first part. >> other companies offer similar programs the nba is the first professional sports organization to offer this benefit. experts say it's being increasingly used across all industries to retain highly valued employees in increasingly tight job markets.

>> sabbatical is a way to reward people for their long-term standing with an organization. we've seen it, not a ton, but certainly see it coming out more and more. >> for the company, it could mean finding future leaders. >> to be a little blunt, i've said to most people when we first started, if this place can't survive without you for four weeks, we're in a world of hurt. >> the nba had to plead with people, if you've earned it, please plan foy it and take it at first many employees were hesitant to take the time off. >> are sabbaticals the right approach to retain top talent? joins us is scott to be brow ski from glass door. thanks for being here today. >> thanks for having me. >> we heard of some of the benefits of sabbaticals and all the companies offering them. are there downsides, too >> it is a rising trend, yes there's pros and cons.

some of the downsides can be that someone can be away from work for an extended amount of time they could come back kind of russ ski also there's a risk when someone is away for an extended period of time? guess what they may not want to come back. >> those are the risks to the company and we teached on it briefly in the package is there an issue people letting people know they can be replaced is that a realistic concern for employees before they take a sabbatical >> we haven't seen evidence that that's a risk. the inverse is what we're seeing employees taking sabbaticals and employers allowing the saab bat kals are typically good to outstanding employees. meaning these employers want to give them extended time off knowing it is actually a tool for retaining the employees long term that's how they're looking at it we or not really seeing that idea of them being replaced, but

rather give them some added time and this is a reason to keep them longer. >> is this something small companies can after noford to dw or only large companies with a deeper bench >> right now we're seeing about 17% of companies across the united states offer a sabbatical program, that is a rising amount across the u.s but if majority of them are large employees like you see on your screen there, largely in technology, health care and consulting industries, those that are really in very fierce war zone talent with competitors. as far as small businesses, it's possible, but difficult. if you have only 50 people in the company, it can be really tough because a lot of things can fall on one person if you were to offer that, an employer at a small or meade yaum size business would have to be clear about what duties that person is handing off to other people and or bringing in perhaps an outside consultant or help for x amount of months. >> are saab bat kals at the top

of the list in terms of what employees want or are there other things they're asking more more, health care plans, 401(k) plans? what do you hear >> we've done studies on what benefits matter most to employees at glass door. there's three, not the sexy, sizzling perks we hear about especially here at silicon valley they include a really good health care program, competitive 401(k) benefit program and then vacation and paid time off this idea of sabbaticals definitely falls into the idea of vacation and paid time off. >> what's the policy at glass door what does your company offer >> you know, i've been there seven years. i like it. we have unlimited vacation. >> that's like a sabbatical every year >> you would think that. that is not true i wish it was. we are allowed and welcome to take time off to refresh and reenergize when we need it but we have some really

high-level goals and objectives that i have to meet. otherwise my boss won't like that so you choose when you can take time off it's very possible the majority of employees at glass door take kind of the standard weeks, about three to four weeks i think there's a minority of employees who take more than that you have a minority of employees who forget to take their vacations. there's pros and cons to everything. >> the type of policy that penalizes the most mindful among people you can take as much time off as you want as lng as you do 53 weeks of work. scott, thank you for joining us. >> thank you so much. now a look at what's making news as we head into a new week. america's economy grew faster than first thought last quarter. the gdp was revised upward from the original reading, increased to 4.2%, the strongest number

sense 2014 business spending increased and imports declined it was a record setting week for the markets, too the dow closing above 26,000 for the first time since february. the nasdaq closed above 8,000 for the first time ever. the s&p 500 setting a new high as well, all on hopes of a new trade deal with mexico stocks were mixed on friday. if you are flying jetblue, you may be paying a little more. the airline raising the price of checking the first bag to $30, if you buy the cheapest ticket the second bag you bring will cost you $40 most airlines facing increased cost in the last year, especially in fuel prices and salaries. up next we're "on the money. meet a guy who goes by the name crypto kid the quirky millionaire leaves in a trooe house and believe it or not, he has his reasons. >> where there's a will there's a way. aretha franklin is one of many celebrities with who didn't have a vital document when they

passed away. right now take a look at how the stock market ended the week.

okay, this isn't weird at all. a millennial millionaire who lives in a tree house. you might ask why. it's because he believes in the digital currency so much that he invests every penny he has into even more bitcoin. our melissa lee is here and joins us with this unusual story. >> a very captivating character to say the least he goes by the name of crypto kid, a true believer in bitcoin that has made him a millionaire but hasn't stopped him from living a very frugal life. >> you live back here? >> yes this is where you center

wonderland a serene paradise. there's even a saloon. >> no. >> with his bleach blond hair, board shorts and tiger paw scarf, justin, aka crypto kid may not be central casting's idea of a millionaire. >> it has a full functioning toilet. >> is this what you use on a daily basis? >> yes, but you have to use antifreeze in the winter. >> make no mistake, this quirky college dropout with a pension for animal print is sitting on a massive fortune built on bitcoin. >> what do i call you? >> some people call me justin, some crypto kid. i tried to change my name, but the bureaucracy was a nightmare. >> that seems crazy. >> yes, i'm obsessed. >> right now we're mining cryptocurrency. >> in 2009 i came across the bitcoin scientific paper

it was like wow. ♪ >> that's when i got a job working construction for the sole purpose of investing in bitcoin. ♪ >> unlike other bitcoin millionaires who cashed in their staggering returns for lambos and yachts, he keeps his paws off altogether. >> i sold all my stuff, moved into the most frugal living environment i could. >> a tree house? >> yes there's lots of hard surfaces to hit your head on you to be very gentle like a sloth. >> okay. so show me around. >> so here i have my kitchen area the living room. you can sit down if you care the library -- >> doesn't seem like a real easy way to live. why do you live like this? >> i'm not paying rent

i can spend that money on bitcoin andeth theorem and other blockchain assets that i believe eventually will change the world. >> bitcoin and other blockchain currencies certainly not for everyone while justin has gotten rich on bitcoin there's others that believe it's a speculative bubble bound to burst. >> no heat in the out house. it looked like a space house was it freezing in there >> when you mine bitcoin, it generates a lot of heat. that helps to heat up the tree house. >> that's pretty hard core this is the fun side of things we should point out there's a darker side to some of the bitcoin issues, especially if you're an individual investor. what did you find out on that front? >> well, lawmakers have bitcoin square in their sights one of the main reasons is it's used for criminal activity,

money laundering we took a tour of the dark web, an elicit place in the internet where you can order hit men, buy guns and choice. the currency of choice is bitcoin. bitcoin believers say there's a lot more criminal activity with card hold cash that's not deterring law enforcements it could change the investing landscape for bitcoin. >> melissa, thank you very much. >> thank you, becky. >> for more you can see our complete documentary, bitcoin boom or bust, on demand or on cnbc.com. on the money, aretha franklin, prince, just a few who have passed away without a will in place the documents you need to have no matter who you are. the school year is in session. see how one company is making an impact with something most every kid needs. and keeps it there longer with lock-in moisture technology skin is petal smooth

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it's sad to think about the passing of music legends like aretha franklin and prince it's sad to know the fate of their fortunes they worked so hard for will be decided by a court. that's because neither one had a will in place. lori ann douglas specializes in estate planning. thanks for being here. >> thank you for having me. >> i was shocked when i learned aretha franklin doesn't have a will she has a lot of money she built up over time how common is this

>> actually it's pretty common the general population, only 50% of people have wills when they die. with people with a lot of wealth it happens often also because for most people estate planning is not about the money, it's about the emotional. >> it's about the b dying >> it's a difficult decision for someone like aretha franklin, she had a great dooelt deal of wealth, she had several children i believe she also had a bad medical diagnosis for many years. it's very difficult for people to do their estate planning once they already have a bad medical diagnosis. >> what's the situation where people really need a will? is it if you have a lot of money, is it if you have children is this something everybody should consider. >> everybody should have a will, once you start working, once you have children, once you own any assets at all. you really need to have a plan for it because you never know when yu or going to need it.

and if there is no plan, it's always more costly at the time of dealt it's more complicated. leads to more unrest amongst your family members. most importantly you end up paying a lot more money for court fees and taxes often when there's no plan. >> i can understand if you're not sure which way you want to go in a certain direction or if these are issues too hard to tackle what would you tell somebody to try to help them get through the decisions? what advice would you give them? >> the rad vice we give them is see a lawyer and tell them what you want, who your family members are, what their strengths are, their weaknesses are. the lawyer can help you design an estate plan that will transfer your wealth the way you want it to whom you want it. >> what about people who worry about the cost of pulling a will together what would you tell them how do you go about it >> the cost is going to depend on your net worth really and the attorney that you use.

but there's always an attorney, someone that's going to be able to prepare a plan consistent for your net worth, the individual's net worth at a reasonable cost i never have seen anyone not do their estate planning because of the cost. >> life can change pretty drastically, pretty quickly. how often should someone review the will >> you should always review it when you have a life change, absolutely when you have children, when you have a new job, when you sell property, purchase property. whenever there's a life change that involves your children, your loved one, your assets, that's going to create a shift in your estate planning needs and especially if you get married because then you need a prenup. >> that's a whole other story. lore ri anne, thanks for being here. >> thanks very much. >> millions of kids are packing their backpacks. unfortunately not every student is fortunate to have one of

those backpacks. we'll show you how one company is on a mission to try to change that can be relentless.

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important services sector with the ism non-manufacturing index. on friday, the big number of the week, the jobs report will be released cheers guess what in friday is also national beer lovers day. as millions of kids head back to school, most will carry a backpack for families struggling financially it's not always an option interstate bags donate one backpack for every bag that's purchased. joining us are the founders, scott and jacqueline tatal man tell us how the company came about? >> ten years ago jack and i started a summer camp for brooklyn's most underserved neighborhoods. we finished our tenth summer last week. we started seeing an unfortunate theme of kids carrying their things in trash bags that opened our eyes and

motivated us to do more for kids across the country we started the company where we would take the one for one model and dad president it to kids locally in the u.s every bag we sell we donate one to an american child living in need. >> jacqueline, do you think people buy the bags just because they like the bags or do you think the mission attracts the customers? >> i think the product has to be spot-on for people to take out their money and actually buy a bag. the quality has to be good and it has to be able to perform but i definitely think the mission takes them over the line. >> running a for-profit business when you're having a mission to give back. how do you manage and finesse those two items? >> we knew setting out it would be harder to grow, always a hit to the bottom line but that's who we are as people and that's the company's dna it's intrinsic in what we do we feel like having this platform, we also have a

responsibility to do good. >> scott, you have been recently i think to flint, michigan you've got some celebrities that you partnered up with. how do you decide who to partner with and probably more importantly where you're going to give back to give the bags you have raised? >> i think it starts with where. unfortunately there's a lot of things happening in this country where kids are feeling overlooked and a little marginalized we've done our activations all across the u.s really where we land determines who we work with last summer we ended up in chicago and we ended up partnering with chance the rapper who is kind of the mayor of chicago in a lot of ways. >> jacqueline, is there a child or a circumstance, something that really stands out to you that made you feel like, okay, this is why i do this? >> i think in the beginning before we were selling bags, when we were giving bags, just to see the children take the stuff out of their old bag and

shove it in, they have something they can feel proud of that's theirs, that's new that feeling and that moment stays with me forever. it makes the hard days for being a entrepreneur, there are such major highs and lows it makes the lows really worthwhile. >> married entrepreneurs, a double whammy. >> i want to thank you both for being here we appreciate what you guys are doing. thanks for taking the time with us >> thanks so much. >> that is our show for today. i'm becky quick, thanks for joining us today next week, free tuition for medical school students. it seems like a great idea, but there are those who say maybe not. we'll discuss that and debate it have a great one and we'll see you next weekend

hi there, no, you aren't experiencing deja vu you are watching "options action" with mark, dan and guy here's what's coming up. >> shall we play a game? >> maybe not video game stocks are tanking, but dan nathan says one is poised for a bounce. he will give you the setup plus, amazon is now a $2,000 stock. >> good lord that's a lot of money! >> you bet it is, but good thing mike ko has a way to get in the stock for less than $20, and --