i'm becky quick. too hard? one company that has a radical old idea and the trend. the million dollar mom. an entrepreneur shares her kitchen table. to the veterans and the award winning filmmaker about what we owe to those who sacrifice for our country. and the seniors getting from social security next year and what they can do with it. "on the money" starts right now. >> this is "on the money." your money, your life, your future. now, becky quick. >> working 9:00 to 5:00 is no longer how most americans make

63% of us consider the traditional workday an outdated concept. instead, we answer phone calls on sunday. but do longer hours actually lead to greater productivity? that's our cover story this week. 40 hours has long been considered a standard workweek for americans. but most are logging more time at their desks. the average is now 47 hours according to gallup, up 9% from 1979. it seems we can no longer leave our jobs behind. 24% of us check on work during activities with family and friends. workers in other industrialized countries spend far less time. in denmark, known for its work/life balance, average workweek is just 33 hours. unlike other industrialized nations, the u.s. does not guarantee workers vacation, sick pay, or maternity leave and even though it's entitled to paid time off, often don't use it. americans take 77% of their vacation, according to a study

by oxford economics. and more than 135 million americans said they had not been on vacation in the last seven to 12 months. that's according to a survey by insurance company elians. one michigan based company has a policy. monday through friday but want you out the door by 6:00 p.m. matt ishbia from financial the management. thank you for being here. matt, your company has a firm 40 hour workweek policy. why did you do it? how does it work? >> you know, we're a family company here at united shore. so the way we put it together was basically, we know our people, what matters to them is their family, friends outside of work and your work every day is part of your life. it's not your life. so we are big on the work life balance. people are doing a fantastic job, working hard all day. working hard for 40 hours and then go be your families, refresh, recharge and get ready

>> in terms of setting things, are they allowed to come in at 8:00, 9:00? do they get to pick the 40 hours they work? >> we have different times based on clients. we have different clients throughout the country. depends on the shift, 9:00 to 7:00 or 8:00 to 5:00 but pretty flexible based on what works best for their family. >> 47 hours a week on average. do you have any proof that productivity drops after you work 50, 60 hours or more? >> there's a lot of evidence, particularly to the point of being exhausted, which is the case in a lot of industries, that their performance and basic cognitive ability falls a lot. pretty good evidence you can wear people out and wear them out pretty quickly. >> when did you first put this plan into action and can you compare in terms of whether you think it's saving you money, costing you money or just something you have to do as the economy improves and workers are able to ask for more perks? >> we put it into place a couple of years ago and definitely

saving us money. not because of less overtime but because of the truth of the matter is we have less turnover, half your team members, they all work harder. happy to be part of the team and they know we care about them. so they care about our clients which has helped us become a great mortgage lender in the country. >> peter, we speak with beneficials all the time. even former fed head bernanke said he's worried about dropping off. is that because you think people are cutting back on hours? what's happening? what has our productivity sputtered out? >> well, i think in terms of the work stuff, hours of work, a lot is results of frankly not very good management. a lot of organizations where people feel they have to show up and put in time even though they don't have much to do and this is the idea of face time. i think the big thing for a lot of organizations is to get better at performance management. how can you tell whether people are doing a good job and if they're doing a good job, you shouldn't care that much about

how long it takes them to do it and shouldn't have to hang around late at night, usually the problem to try to impress your boss with the fact you're working hard. >> that's always been my concern. not how many hours in the office but how productive while you're there. is your business something where people can work from home? can they do flex hours? you mentioned because of the mortgage banking, you need to be there for certain hours. >> we have 1350 people there every single day but we have fleblt flexibility for that. for the most part, people are working hard. we want them at 6:01 or 5:071 1. >> let's say there's a spike in interest rates and everyone is rushing to refinance. would you crunch time? >> we try to be overstaffed by design, so we're able to handle the fluctuations and still be able to serve our clients.

open to doing it because it's the exception, thot the rule not the rule or the norm. they jump in to help out. >> how many hours a week do you work? >> i work a little more than 40. more like 60 to 70, but it's my job. >> that's a lot more than 40. >> i'm able to help our team because 1300 people are most important part of our business. >> by setting the standard, do other workers feel bad if they walk out at 40 if the boss is there for 60? >> that's not the culture we have. the difference between us and other mortgage companies, we have 1350 different people. they do a fantastic job. so it's not about that. they don't have face time for us or be there when i'm there. we want them to do a heck of a job and then be with their families or spend time with loved ones. >> thank you for joining us today. >> thank you. appreciate it. >> here's a look at what's making news as we head into a new week "on the money." another disappointing number for america's economy. retail sales rose by one tenth

the number is always closely watched because consumers make up more of the u.s. economy. auto sales strong while retailers and restaurants were strong. it was a choppy week for stocks but the markets falling along with the earnings report during the week. stocks had the best day in nearly two weeks on thursday and the markets continues to rise on friday. earnings mixed all week. bank of america, citi, and wells fargo all came in ahead of expectations. j.p. morgan chase and goldman sachs missed and walmart lowered guidance for future profit. two of the biggest beer makers in the world set to become one in what looks like inbev which makes miller beer for about $104 billion. the multinational deal still bases plenty of regulatory hurdles though. up next, we're "on the money." the entrepreneur who created little tim, a language learning program for kids is now helping other women grow their start-ups into million dollar businesses.

and later, helping our disabled veterans. filmmaker rick burns joining us to talk about his new project. the true cost of war and how we should honor the men and women who serve our country.

women launched 1200 new businesses a day according to american express. and women own firms more than 35% of all privately held businesses in the united states. julia launched her own company called littl tim and in her book, "million dollar women" she aims to help others. thank you for being here. >> great to be here. >> i think the statistics are interesting with this. women start twice as many small businesses as men but only 3% of them ever reach that revenue beyond million dollar mark. what happened? >> when i passed the million dollar mark with little tim, i got the call from a journalist and said we profile women with high revenue businesses. only 1.8% of you. now we're up to 3% of women with the $3 million plus. >> what goes wrong along the way? >> it's not a problem of confidence. it's a problem of capital.

with six times less capital in high growth businesses than men do. and then revenues are 27% of male run businesses. >> that's just getting access to capital or knowing where to go or just the world is in a place that's there for a male entrepreneur? >> it's much easier to become a million dollar woman than most think. three things women need to become a multi-million dollar ceo. one is the belief that you can go big. the picture in your business scale to describe that to someone and bring in the right partners. so the mindset, the skill set, and the network. the mindset is the hardest part. and then the skill set. figuring out how to fund raise and the parts of the business you're not good at. hire a team or bring in and then the right partners to go big. >> let's talk about your experience with this. little tim is a company that you started to try and help

learn to speak a second language even if the parent downtown. >> i grew up bilingual and always thought that was the best thing my parents did for me and want to make it available everywhere. >> what was the biggest obstacle? >> probably finding the right partners to go big and that means the funders, the strategic partners to build our countries, logistical issues around that. but i come back to the mindset once i got my brain around, i'm going to be the ceo of a multimillion dollar company and go big with this, the rest is easy to figure out. >> the first million is the hardest? >> yes, man or woman. but i had a great team and i've been so fortunate to have mentors, advisors and coaches to help me get there and also, a professional group called entrepreneurs organization. >> julia, thank you so much for joining us. >> great to be here. >> great to see you. >> up next, we're on the money. a different kind of filmmaker, rick burns on his new project.

who paid a heavy price for the military service? and later, why paying less

some come here to build something smarter. some come here to build something stronger. others come to build something faster. something safer. something greener. share. people come to boeing to do many

different things. it's always about the very thing we do best. >> it's more than the cloud. it's security. and flexibility. it's where great ideas and vital data are stored. that was from the documentary dead of honor which tells the story of disabled veterans in american history.

set to air on pbs next month. rick burns. he said this film may be one of the most important he's ever worked on. rick, what inspired you to get into this? >> i think you brought into it by an incredible woman, a philanthropist from florida who made it her life's work to support disabled vets. in fact, really the prime mover behind the memorial that was baptized a year ago in washington by the president. and she just came and said, i like your work and would love it if you did a film about the disabled vets. a thousand watt light bulb went off. death has a history. and the history of disabled vets in some sense goes back to homer. but in some sense, begins like everything in america with the civil war where we're not only producing casualties in astronomical numbers but disabled veterans because along with the ability to produce casualties and save lives kicked

century and ticked up and up in the last 150 years. which means we are a nation that's producing disabled veterans in ever greater numbers with each war that comes. >> how long did you work on this project? >> over two years and it's great to have that much time to work on a film a little bit more than an hour long. you get to make mistakes and rethink them, go back, but also to work with the footage from eight or nine or ten incredible americans including most importantly four incredible americans in war. maxx cle land, j.r. and each inspiring grounded, they've been through something that scales for anybody what sacrifice and struggle means and they come through it. nobody acts like a better human being having spent a few hours or days in their company. i just invite anybody who's ever worried or struggled listen to tammy duckworth who lost two legs and half an arm in a blink of an eye in iraq in a

helicopter and listen to her talk about why she struggled through it, how she struggled through it and what it meant to her to make that sacrifice. emerge a better person. >> one of the things that's very striking is how few of us a number are affected by who's going to war right now. that had to come. >> either way, that's the biggest reason to make a film like this. we have, you know, 99% of americans have nothing to do with the military. 1% of americans only 1% in the armed services and not only that, the 1% that's sequestered and siloed as never been. we don't have a national have that. almost like an ethnic group, military. carry this enormous weight for the rest of us. and man, we have to as a democratic republic, close that gap and bridge that divide between our military and civilian populations because first of all, it's just better for the civilian population as well as better for the military, whether you're a disabled

but it's better for us to be in connection, to feel our family, moral human bond to these people who are in a special group. the country means everything to me. i am willing to lay my life for it. >> as the mother of three children, i don't want the draft brought back and women brought into it either. how do you take the two sides? >> father of two boys and teens, one is 17 and 18, just about to be called up if we had the draft. i'm with you 100% and also, and anybody in the military will go with you on this one. you want to have a voluntary. people self-selected for this, but how about returning to obligatory universal national service? not necessarily military. >> how does that work? >> you have people, urban corps, peace corps. required for a year or two with high school and college, a break to serve their nation. and then if my son had to do that, he would understand what the men and women making the

higher sacrifice to serve in the military and maybe lay down their lives and bring us much closer together. >> i agree with that 100%. where do you think we are on the political front in terms of being able to do that? is that viable? >> it may seem a di vised polarized washington, it feel on the edge, so much interest in veterans affairs. so much interest in not just celebrate ing celebrating, but thanking and embracing our veterans. and i think that means we may be on the verge of a real kind of we owe these men and women. we owe them a lot. if they're going to go there and lay down their lives or leave parts of themselves in the battle, every american has a debt of honor and obligation to make sure they don't struggle to pay for their family. it's our duty. >> rick, for anyone who wants to save this, pay for it.

so please, proud if that's going to be the case. and i have to say, it's the project that's meant more to me than any other. 50 hours of programming i've been privileged to be a part of in one way or another. this hour more than any other put together. >> i can't imagine, i can't wait to see it. thank you for talking about it. this. >> becky, thanks for having me. really appreciate it. up next "on the money," a ahead.

for more on our show and guests, you can go to our web site. otm.cnbc.com. and our twitter, @onthemoney. ibm and microsoft all reporting. monday marks the 28th anniversary of black monday when the dow fell by 508 points. back in 1987. it may not sound like a lot but it was 27% of the value. september. on thursday, we'll get existing home sales. and on thursday, you can't hurry love. 49 years ago, the motown sound loud and clear when the supremes became the all female music group to have the number one

social security check next year, you better think again. for the third time, millions of social security recipients will not receive a cost of living increase. but some of them will have to pay more for their medicare coverage. senior finance correspondent sharon epperson joins us now to talk more about your money, your future, and your social security check that's coming up. sharon, this is really uncommon. what's happening? why is this going this way? >> it's very uncommon. and we were excited to see the low gas prices at the pump, but it also means that inflation is staying low and so the cost of living adjustment you get in the social security check is really based on that inflation rate. and since we're not seeing any inflation, high inflation, we're not seeing a cost of living adjustment. that's going to hurt a lot of retirees. >> it makes sense if you were thinking, okay, we're not seeing inflation, so we shouldn't be getting more money, except when you look at some of them facing higher medical bills. >> exactly. the way that it's calculated is

affects workers, not retirees. that's why a lot of folks including aarp said there should be a different calculation that includes the inflation rate for elderly and seniors. it's reflecting the true cost. we're talking about a half of social security recipients rely on social security for 60% or more of the retirement income. it's affecting a lot of people. >> if you were counting on that money and not going to get, what can you do? >> we were talking about low gas prices and driving around. one of the things that seniors and everybody often pays too much for is car insurance. looking around to see what kind of discounts to get if you're a safe driver, with an extra safe car, you can get discounts. if you've had your car for ten years or more, you may not need collision or comprehensive coverage. you can save money there and talk about your mortgage and will you be able to refinance? rates are still at historically low levels. not at the lowest but see if you can do something there and then even with your savings and we

know savings rates are really, really low. look for one of the savings that will give you just a little bit more interest on your money. >> in terms of what expenses they're facing, in terms of the higher medicare expenses, when does that kick in? >> that's a problem with having no cost of living adjustment. cola increase. that is affecting 30% of medicare beneficiaries not prevented by a certain legal provision. they see higher for medicare program and that is a significant amount, particularly for those who are enrolling in medicare next year, who are not getting their social security benefits and for high owners. those folks will have to pay for these extra ream premiums out of pocket and a 50% increase of what they pay now. >> sharon, thank you very much. that's the show for today. i'm becky quick. us. next week, open enrollment season is coming. what you need to know before you choices. we're "on the money."

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