. >> hi, everyone. welcome to "on the money." i'm sharon epperson. protecting your retirement, a growing movement in some states to make sure you save enough and why it's so controversial. the painful process of paying back student loans. the grace period for recent grads is ending. what to do if you owe. don't look now, but holiday shopping season is almost here bargains. what you should buy, and when you should buy it. and getting into the groove. how vinyl is making a musical comeback. we'll visit a factory where they can't stamp out records fast enough. "on the money" starts right now.

your money, your life, your future future. whether it's procrastination or the reality of living paycheck to paycheck, more than a third of all americans say they have nothing saved for retirement. now some states are trying to change that with mandatory retirement savings programs. is it a good idea? that's our cover story this week. a movement for states to help offer retirement plans is underway across the nation aimed at helping more than half of all u.s. workers who do not have access to an employer-sponsored retirement plan. the movement is gaining bipartisan support in many states. and legislation for state-based private retirement plans hags already passed in illinois, oregon and washington state n. illinois, starting in 2017, any business with 25 or more employees that's operated for at least two years must offer the state-based plan unless it provides another retirement option. employers will automatically

check and move the money into a state-run investment pool. while it's mandatory for small businesses to participate, workers can opt out at any time n. oregon a similar plan is also expected to be implemented in 2017. in washington state employers with 100 or fewer employees can decide whether to offer accounts to their workers. the state's marketplace is expected to be in operation by 2017 and will allow businesses plans. and employer can provide a match plan. >> advocates say this could boost retirement savings but some financial groups say state sponsored plans aren't necessary. theresa ghilarducci and andy blocker join us.

>> theresa, where are states doing this? why is this movement underway? >> about 15 years ago the state of california contacted me and said, look, we know that our residents don't have pensions. is there anything happening at the federal level that make sure that employers that once used to anymore. and that the plans that were adding up. people were saving in 401(k) or iras but they were taking money out for life events and it wasn't adding up to retirement security. so the idea is that if the federal government is not going to do something and everybody in cities and states know there is going to be retirement crisis, the state's governors, the controllers, the legislators said we should do something. >> any, your group doesn't think the states need to be involved in do this. >> we can all agree that americans can do a better job at

saving for retirement. but options or the lack of options is not the real issue. savings. we don't have an options problem. we have a savings problem. there are tons of options to this day, 401(k)s, 403 bs in the public sector we believe we should focus on the culture of saving. >> this week, the u.s. testry department expandsed the my ira program with the idea of getting people to start saving for retirement in some way. this is a federal program. how does this work? >> my ira has been described as a bicycle with training wheels that is a public option for people who don't want to pay high fees in 401(k)s but the employer doesn't provide any match and the tax subsidies don't help low income people. >> and you can only put in a

maximum of $15,000 in this account. >> $15,000, right. >> this is something your group is in favor of, is that because it gives people training wheels to start saving? >> people are not saving because they have competing financial needs and they don't think the dlar extra dollar is going to make a difference. there are no barriers to entry in this program. you can come in with $5 per month. that's why we are supportive. it's pafrt portland. we don't want to create 50 new state retirement plans especially when the retirement nts plans in current states are $50 trillion unfunded. >> -- >> people can save only at work consistently. it's not habits. it's the design of the system. don't blame the victim. don't blame the victim, andy. >> thank you theresa, andy. it will be interesting to see how this perk lates with with many more states looking into these programs. thank you so much. >> thank you.

time is running out on two popular strategies many couples use to collect social security benefits. in a recent budget deal these approaches will be eliminated in the next six months. one lets you file for social security benefits once you reach full retirement age at 66 or 67 but you can request the benefit not be paid. that way your spouse can claim a benefit based on your earnings and your own benefit can grow. another strategy couples use known as restricted lets you receive a spousal benefit but payment. that way you can let your own social security benefit to grow. these strategies may be going away but financialed a advice visors say you can still maximize your social security benefits. >> set up their my account on the social website and see what will your benefits be and what your options will be today as

>> set up your free personal account to keep track of your earnings and estimate your future benefits. now here's a look at what's making news as we head into a new week "on the money." a much stronger than expected october. the economy cleared a 271,000 new jobs last month, way above expectations and the strongest number of the year. the unemployment rate dipped slightly 5%, increases the likelihood that the federal reserve will raise interest rates at its next meeting in december. the dou started off with a bang and continued to climb early in the week while the nasdaq hit a 15 year high during the week. stocks climbed at the week's end. the rubber hit the road for auto sales last month tracking an annual pace of more than 18 million vehicles in october for the second months in a row. that's the first time that's happened in 15 years. all the major automakers were up double digit. if you like your books with a

amazon is opening a brick and mortar store in seattle. bookstore sales foal their lowest level in 20 years last year at least in part due to online retailers like amazon. up next we're "on the money." school's youth out and it's time for many graduates to settle the bill. find out to you to dig yourself out if you are drowning in student loan debt. and designing your kitchen based on your personality. how a homebuilder wants to get the most important room in your house just right. and as we go to break, a look at how the stock market

if you graduated from college last spring, it may be time to start paying back your student loans. but many grads the six month grace period on federal student loans ends in november. it can be a complicated process but we'll explain how repayment works. we have two guests. natalia, let me start with you. how big a problem are we talking about? there are a lot of graduates out there with a lot of money that they owe. >> absolutely. currently we have 43 million americans suffering with $1.3

>> to put that in perspective, we are adding 3,000 per seconds to the overall total. undergrat grad debt averaged at $30,000. but we see more than a quarter of graduate students that have over $100,000 in debt. >> oh, my goodness. katie, you graduated in may from american university with a degree, bachelor's degree in communications. how much did that degree cost you? >> i have about $90,000 that i have to pay back in debt mixed between federal and private debt. as i go and look at repayment options, i'm looking to a public service repayment program for my federal student loans. >> because you are working for a nonprofit organization now? >> yep. and then with the private loans -- i have three separate private loans. i'm looking to sort of do consolidation. it totals about $300 i pay back to the federal government and $600 i pay back to the private lender. >> you are far ahead of a lot of

students out there who just graduated. natalia, a lot of folks are getting the bill for if first time thinking ha how am i going to do this? >> first and foremost, if you can make your monthly payment stay on the standard repayment plan. you will be done in ten years. most i know can't. they can't pay the $900 per month. we suggest going to the department of education's repayment estimator. what this is is a calculator. you put in your loan information and it will tell you exactly what you will play for all the different plans. >> these are for federal student loans. >> federal student loans only. >> and the public loan forgiveness program katie mentioned, this is if you work for a nonprofit for a period of time, what happens? >> if you work for a nonprofit, or a church as long as it's not for spiritual or religious activities. ten years, 120 appointments and after that the loan is forgiven

and nontaxable. but all the repayment, you are taxed as income at the end of the repayment option. in 20 or 25 years, your loans will be forgiven but as it currently stands you will be taxed. >> most people have federal student loans out there. thank you for joining us. most people need a loan to buy a house. and it is of course one of the most important investments you will ever make. so you want to make sure you do it right. and that it's just right for you. one of the biggest home builders around is trying a new approach to make sure designing the most important room in the house based on the buyer's personalities is what you get. >> reporter: in a nonscript warehouse just outside atlanta. >> talk first about functionality. >> reporter: homeowners are describing what they like in a kitchen. and what they don't. >> doesn't have enough seating if you are entertaining. >> reporter: it's part of a push by pulte homes one of the

to hone in on a picky and price conscious consumer. create a kitchen based on the buyer's permits. >> again and again, our buyers tell us if you get one room right get our kitchen right. >> they invited kitchen appliance companies to show their wears so they could show them to groups. >> everything has to be in the right place. >> it's about life-style and about life choices. builders today need to cater not just to suburban families but no young millennials who wait longer to have children, to downsizing baby boomers, and to a more urban social higher end demand. >> you are talking price ipts above $400,000, $500,000 in many cities. >> reporter: by invest in research yow ppulte claims it

will save money. >> if you liked it closed off, you are probably the person who doesn't like to entertain. >> reporter: buy investing in research now they claim they will save money, no more gambling on local design, instead homing in on who their buyers are, exactly what they want and building on that. up next we are "on the money," getting ready for the holidays. whether you are planning to spend less or save more, find out where and when you can get the best deals. and later if you think the

'tis the season to shop this. year's holiday retail sales are projected to increase by nearly 4% from last year to $630 billion in 2015. many retailers have started to release details about markdowns earlier than ever before. personal financial analyst vera gibbons is here to tell us how to get in on the holiday deals. my son already has his christmas list ready for me. >> there are so many deals going on. >> before thanksgiving, do we start shopping. >> amazon is running deals all month long. walmart running deals.

target, kmart has brought back the blue light special. everything is on special from tvs to lap tops. >> all the lining up for black friday, are people doing that. >> if you think about thanksgiving day, all the people that leave the table to line up. you don't have to do that. a lot of that stuff is available on line. the vast majority of door busters, available on line. with did exception of a few thing. >> if i'm getting it on line, do i have to wait for cyber monday? are the deals going to be happening then. >> the deals continue. thanksgiving, black friday, cyber monday, that's when you see the storewide sales. 20 to 60% off everything. it is a better day generally for clothing. black friday and thanksgiving, you see 40% more clothing deals than you do on black friday. not about electronic deals, but clothing. beauty products. time to stock up on thing at your favorite retailers because

we want to get good deals. >> it's starting early. is now the team to get the electronics and the toys that are not going to be available. >> a woman has told me she is already getting toys for her children because they are telling her there aren't going to be any left by black friday. frozen stuff, disny, lego stuff. and just when they disappear, another load comes in, surprise, surprise. as far as electronics goes, we are seeing that now. very good deals on tvs are localing out. sam's club has a one day sale on november 14th. last year we saw the budget lap tops at $99. we could potentially see that price point again this holiday season. >> a lot of sales out there. start shopping. >> yes, and make sure you are getting the most possible prices. >> thank you vera. up next "on the money" a look at the news for the week ahead.

guests go to our wbz. and you can follow us on twitter @on the money. here are the stories that may impact your money this week. earnings season is winding down. tech giant cisco is reporting, along with macy's, nordstrom, jcpenney and coal's. monday marks 26 years since the

fall of the berlin wall. the cold war barrier separated west germany from the communist east from. wednesday is veteran's day. u.s. markets will be open, but banks will be closed. and friday brings the closely number. history is repeating it self in the music industry. no, it's not eight tracks orca sets that are back. it is all of things, vinyl. kate rogers is here with that story. sharon. in 2014, more than 13 million vinyl lps were sold according to america. 1989. it's safe to say that vinyl is a.j. back. take a look, and a listen. that's the sound of demand for vinyl records, of all things. in a world where digital music reigns supreme. in fact, independent record pressing in bordontown, new jersey, is aiming to manufacture 1 million records this year.

>> that's going to be capacity. demand far exceeds that. we would be able to run these presses 24 hours a day, seven days a week and still not be able to meet demand. capacity really, the choke point in the vinyl industry right now and why you are hearing about a resurge sense there is such a demand compared to what the capacity is. >> reporter: in a strange turn of events, he thinks it may have been been digital music that created the resurgence in vinyl's popularity. kporg to a research group vinyl watch half of record buyers are younger than 25. >> i believe that bijtal has helped the comeback of vinyl because digital strips out the tangibility of music. it really is just a file. i think the great thing about the vinyl is it is a tangible piece. >> reporter: it's not just the vinyl that's vintage. these machines are actually more than 40 years old. in that time period not much as changed in terms of how they operate. but it does mean that withf one

of them breaks down fixing it costly. it takes about 25 to 40 seconds to make one record. >> the process begins with the raw vinyl being put in the machine behind me that you see in the hopper. and that raw vinyl is then heated. somewhat like a big spaghetti maker. >> reporter: the vinyl is molded and pressed under 350 degrees and 100 tons of pressure. from there, the record is then compression molded, cooled and trimmed. next up, fo broadcasting for quality before being packaged. here's matt demarco's salad days, being spun. with vinyl bag in vogue, only one question remains, will cassettes be next? >> you hear a lot about the cassette comeback. again, i think -- people aren't going to the cassette for the cassette audio. really, the cassette is

inpeerior to each an mp 3 in terms of sound. but it's a cool media. >> reporter: vinyl lovers say the difference between digital and vinyl is all in the quality and the richness of the sound. >> this is an interesting story. i'm wondering if it's new records. labels. matt demarco. empire weekend. what i find interesting is you find taylor swift and katy perry lps. there are two sets. some listening to indie labels, some listening to pop music we all know and love. i thought the stunning stat was that half of them are under 25. >> that's the sho show for today. i'm sharon epperson. becky will be back next week. next week, more restaurants are adding no tipping to the menu. is it a good idea? or will you be paying more, even