money." i'm becky quick. putting your retirement on auto pilot. how does it work and are they right for you? luxury lifestyle. if you think of college living as cinder blocks. what's my line? just don't have time to wait online for the big ticket to a concert or anything else, hire someone. really. "on the money" starts right now.

>> whether oour a parent or know someone who is, having a newborn is at odds with work schedules too but paid for leave benefits. is this a trend that will grow? that's our cover story today. new baby, new rules. >> juggling family demands never easy but a recent study found 75% of millennials want flexible work hours and on track for a promotion. may be hard to have both because the labor department said 13% of u.s. workers have access to paid family leave. the u.s. is the only developed nation that doesn't require paid parental leave for mothers or fathers. 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

or six months, we would provide 26 weeks of fully paid benefits. >> that's a half a year off. netflix doubled that. a full year of paid leave for new moms and dads. microsoft expanded its policy to give 20 weeks for mothers and 20 for fathers. facebook gives 16 weeks for all new parents but will taking time off damage your career? >> at adobe, we believe people will take the 26 weeks because we've defined it. i believe this is going to be a great effective program for both the attraction of talents but also the retention of our great employees too. >> friedeman at the university of pennsylvania. joan williams is professor at the university of california hastings college of law. thank you for being here. you think this is the start of a major benefits, do you think

it's to compete for the top talent? >> i think it's something technology companies need to do. what's spectacular, we have a tight labor market for talent in the bay area. one of the ways they're competing with better leave and more family benefits. that's a real change. that's striking. >> it's a real change. definitely grabbing national headlines. when you try to break it down, how do you get the cost and measure against the benefit they should be getting? >> well, the long-term benefit in terms of attraction of retention, which is the adobe person was speaking about is enormous. there's research that shows 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, of course, also offers opportunities for other people to step up and 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 and not just in the tech industry offering this kind of benefit. >> sue, when you talk about the $16 billion in savings, that must be from the idea that you don't lose women who maybe spent 5 to 10 years training out of the workforce because they want more time at home? >> yeah. the cost of turnover, especially for professional talents is enormous. and what we've seen in states like california, especially, that have experimented with states supported paid leave is that when you offer it, you actually get people more likely to come back. women especially. they're more likely to come back in the workforce with a long-term benefit with some short-term investment. >> yahoo ceo said she's expecting twins and will be taking limited time away after they're born. i don't want to criticize anyone for choosing to come back early, for choosing to take more time off. i think you should parent

however you want to participant but parent but i wonder if it's because what the boss is doing. >> researchers document the flexibility stigma that a company has to be concerned that when an institute leaves, people think 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 messaging that everybody, men as well as women, is expected to take the leave. >> also expecting. i haven't heard anybody talking about whether he's going to be taking four months off. >> that's true. i think it will be fascinating to see. i think should and wait to see

what mark zuckerberg does. >> while we talk about this, we should point out again, only 13% of americans have access to this. we are the only developed nation that does not have a federally mandated amount of leave time. i just wonder, do you think it's going to change anytime soon and that question, why don't you kick it off? >> you know, the united states has the most family hostile public policy in the entire developed world. and i'm sorry to say, i don't see that changing anytime soon. in the countries with paid leave, they have much stronger unions and much more proactive attitude towards government. not sure i see changes in public policy i'm sad to say. >> sue, anymore optimistic? >> i am more optimistic. i see a push for a national legislation, next week, actually, news of a letter to congress that i and 150 plus of my business school colleagues from around the country, the top

25 schools write this letter to members of congress in support of a family act which is just that. it's family and medical insurance leave. will it pass now? probably not but eventually we'll see it. >> thank you both for joining us today. >> thanks for having us. now here's a look at what's making news as we head into a new week "on the money." best of the year as they wait for the fed meeting. au au all the major averages up. they gave it back later in the week. stocks holding the breath until the fed meeting starts this coming wednesday. a closely watched indicator of the strength of the jobs market hit a record high in july. measuring job openings reached 5.8 million in july most since started measuring it in the year 2000. sharp rise in available jobs could mean bigger paychecks as demand increases.

apple had a busy week with a new version of iphone 6, this one called the 6s with new touch technology with 3d and faster chip. apple showed off a new more powerful version of apple tv starting at $149. and if heating soup from a can is just too much for you, get this. you'll be able to make your soup with your machine. rolling out pods that will allow consumers to make a cup of soup right in the very same current machines that you use for your coffee. of course, companies recommend running a hot water brew cycle without a pot in it before and after so your soup doesn't take like coffee and soup doesn't taste like coffee. >> why target funds may ease with retirement. put the whole thing on auto pilot. don't want to wait in line for the new iphone? hire this guy and he will wait for you. right now, as we head to a break, look at how the stock

market ended the week.

going out on markets, i have no idea what will happen tomorrow or next week. and sometimes, get very boggled like this and other times, put you to sleep. the important thing is where they'll be in five or ten years. i'm confident they'll be considerably higher in ten years and i really have no idea where they'll be in ten days or months. >> that was berkshire hathaway. ceo warren buffett about the future this week, some call the oracle of omaha. can't tell where stocks are headed. who can? some use target funds to take the guesswork out of the process but are these autopilot funds a good idea and how do they work? senior personal finance

correspondent sharon epperson is here with more. i know it's popular, but how do they work? >> it's popular. many 401(k) plans, many use them as an option when they don't know what to do and work like this. they actually take the guesswork out, as you said, by becoming more conservative the closer you get to a target date. the target date is usually the date that you want to retire. and so you'll start with mostly equities when you first get into it depending on your age and gradually more invested in fixed income. retirement age, those are the main factors that count for figure o figuring out what date you want. >> how have they held up with the track record? >> they follow a glide path. something really different return for many of them depending on they actually glide in terms of how they move from equity funds to fixed income funds. when you when you look at some of the most popular ones, there's a

wells fargo advantage as well as, and then the fidelity freedom 2015. wells fargo, more fixed income. when we've seen a lot of market turmoil and the slide we've seen in equities over the summer and particularly in august, they got hit but not badly as the fid fidelity freedom. >> young, 80% in stocks and 20% in bonds and when you get old every, you should be 70/30. 60/40? >> not more complicated than that. people may not make those changes as they get older. >> the problem is sometimes they charge you fees for doing it. >> to have autopilot. >> 401(k), definitely to watch out for, someone not inclined to do their own research in terms of investing for retirement, it's probably the way to go. probably the way to start out. probably for someone with a lot of money to invest in the 401(k) near retirement, very important

to really look behind, look under the hood and see what is in the target date fund. what equity mutual funds are in there and if it makes sense for perhaps some of the other assets you might have in an ira and other 401(k)s in previous employer. doesn't do any of that for you. only looks at your age and time, some financial advisors say it may not be the best because it doesn't take into a lot of factors that you really need to think about. >> sharon, thank you so much. >> sure. up next on "on the money," the guy to help you beat the crowd. how he turns an annoyance into a professional business. >> a fitness center and a sauna. not talking luxury condos but student living. why college isn't what it used

like it or not, most everyone has waited in line. one annoyance is another opportunity. professional line waiter. >> there's a line somewhere? i just try to avoid that. i just, i am not a line person. unless it's pouring rain or something, no. it's just an hour. it's just time.

>> in retail, things like that. >> if you want something enough, you'll wait if line for it. >> if it's like something i really want, like limited edition, sold only on that day, like 100 copies of something. i don't know, like it has to be something i really want though. >> good morning. ladies and gentlemen, are you ready for your cronuts? >> americans spend roughly $30 milli, 30 million hours in the line. at the doctor and 28 minutes in security lines every time we travel. the question becomes, when is your time your money and waiting if line for concert tickets or the latest tech gadget if that isn't worth your wait? that's when you call the founder and ceo. robert samuel. throw his weight around to make sure you get what you're waiting. robert, take a look at this. how did you get into this whole

idea? i get it. it's a need. but how did you come up with the idea? >> 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 a little closer to their reality. so i put an ad on craigslist 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. i was always on the retail side, not the outside standing waiting for the doors to open. i managed to earn $325 when the doors open. >> going back in line? >> my original customer, his online order went through apple and didn't need me but paid via paypal anyway. four hours waiting, did well. number three in line for the iphone five. two years ago. and he said, sell your spot.

so i just, musical chairs. at that point, i was musical standing. just bouncing around. when the store open, i bought a phone i had no intention of buying the day before. >> now you've broadened. more than an iphone waiter. >> yes, definitely. >> who are the people using your services? normal people? high end people? >> it's a gamut. it can be anybody. >> i shouldn't say -- i mean wealthy people. like you or me? >> average people like you and me. i had a middle school student who wanted to get cronuts for a high school crush. $60 to surprise her quote unquote boyfriend was beyond me but i was happy to oblige. young kids, regular earners, uber rich. very luxurious, you know, well to do people. i get everybody. >> what are you thinking about now? coming up? the iphone 6 plus.

>> just announced. september always a good month. cronuts still big. >> people who don't know, those are croissant donuts. >> have you had one? >> i haven't. >> you must have one. >> best of wait in line? >> because i'm the boss, i'm always on my phone texting, answering calls, answering e-mails. >> so what's the weirdest request that anybody has made to this point? >> the weirdest request? i don't like to call them weird in case they're watching, but. >> the most unusual? how about we do that. >> pc it. a cronut delivery. two females. had me split the order. >> make sure you increase your odds on a friday night. >> no customer who never got one cronut knows what i'm talk

abouting. up next, the news for the week ahead. the granite countertop. you might want to go back to school.

tomorrow, go to our web site, otm.cnbc.com and also follow us on twitte twitter @onthemoney. here's the stories. consumers make up more than

two-thirds. the industrial production for august is out. too big to fail, tuesday marks the seven year anniversary of the bankruptcy. the consumer price index for august is released. the big event is on wednesday, the federal reserve's open market committee that gives a closely watched two day meeting to decide if interest rates go up, get the decision on thursday. if you have fun memories of your college days and filled with cinder blocks and ram shackled old houses, think about this. one of the newest trends in student housing is luxury. diana olick took a trip with more on gran it countertops and swimming pools. >> i am not kidding you. it's the new case of off-campus student housing and the competition among developers heats up the 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. racquetball, sauna, game room, private study lounges and laden apartment suites that would balk at the idea of the cinder bloblg walls. the most expensive lease up the fastest. >> catering to more than the 10% or so of the 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 patios. >> how do students pay for all this? prices actually aren't much higher than where they're soaring and target big public pools with lower constitution. landmark taking the brand across the nation growing footprints and profit and as for the kids?

>> what happens in the real world and y'all can't afford all this? >> down after college for sure. >> now, even as the large millennial generation starts to age out of the college years, developers say foreign students will pick up the slack. they like the luxury lifestyle as well and they do have deep pockets and becky, i'm thinking about a ph.d. >> i think i'll be on the 12 year plan myself. that is ridiculous. diane, so many questions about this. we talk all the time about how high eer tuition prices is a serious problem. >> the colleges themselves like this because they really outsourced it to developers and it's a great source for the university that want to pull in students but the costs really aren't that much higher than living either on campus or in a kind of older building. they're not because these developers are doing this very streamline, charging by the bed, not by the unit. and so they're able to offer students lower end studios or, you know, do have the penthouse

suites. i don't want to talk about that. but it's not that much more expensive for them because they can do it more cost efficiently. >> the universities must be bad at this because i had nothing that looks like that. >> cinder blocks. >> dumpy dorms. my gosh. diana, thank you. >> sure. see you 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 card 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.

i'm sara gore. this week on "open house," interior designer nichole sassaman tours her latest luxury design project in las vegas. we're at a home in bedford, new york that's both stately and serene. old friends hunt for a new pad in new york city. but first, a rare historic philadelphia mansion with modern interiors. margaux pelegrin: this home's unique architectural design was inspired by the current owner's love of minimalist art. [theme music] welcome to "open house." i'm here in manhattan's upper west side inside a newly renovated town home. it's been completely restored and re-imagined for 2015. it features modern and high end amenities