welcome to "on the money." i'm becky quick. pro athletes may be living the dream, but what happens when it's over and what lessons can learn from them? stay-at-home mom turned millionaire. couldn't find anything to wear turned into a lucrative tint. why we work. it's for the money, right? maybe not. what could be more important than your job than your paycheck. it's in the cards, you will likely be getting a new credit card. with new technology, still, why you should think small and what it means. "on the money" starts right now. >> this is "on the money," your money, your life. your future. now, becky quick. >> it seems like a dream come true. life of a pro football or basketball player. millions of dollars, a glamorous life, and all just for playing a game. but it is not all championship rings and showers for some of

the elite athletes. there's hard work of course. a limited career life span and for many, hard lessons learned that can apply to almost everyone. that's our cover story today. luxurious mansions, private jets, expensive cars. the life of pro athletes seems perfect. they get paid millions to play the games they love, but what happens when their careers are over? recently, it was revealed nba star baker was working in starbucks after his basketball career ended, baker ran into financial trouble and now supports his family by working in the coffee chain. baker isn't the only former athlete to face financial trouble. according to the national bureau of economic research, nearly 16% of former nfl players declare bankruptcy. and unlike most americans who work until 65, athletes have very short careers. the average nfl player's career is over in just six years. it's worse for baseball and basketball layers. many players don't have a plan for life after sports. to help, pro leagues add job

training and counselling but the lesson is the same. plan ahead and live within your means. it may be hard to feel sorry for athletes who had it all and lost it, but there are valuable lessons for all. joining us is drew hawkins, managing director and the head of morgan stanley entertainment and scott. it's great too see you both again. >> thank you for having us. >> these are issues that happen toto professional athletes but could happen to just about anything, things that go wrong. >> you hear a lot of stories, but it translates into what regular people do. it's about thinking about planning and savings. things that people need to think about earlier in their lives when it comes to their nances. >> so what sort of advice do you give people? what do you tell people? >> on the player's side, how to really relate to having a plan, bein smart with aggressive

savings out of the gate. any given sunday was an awesome movie that came out years ago, but that's reality and situations occur where the lives in terms of athletes are not defined. they're short-lived and having an aggressive program to be prepared for the certainties and some of the things we preach to them out of the gate. >> you were just listening to the package. you seemed a little shocked when you found out about the starbucks job. >> i mean, that's tough but that's reality. we talk about the dream of making it, but too often, it becomes a nightmare. and we work so hard and put so much into it. andust making some subtle changes to your lifestyle, just some education. that's why i'm so excited to work and partner with morgan stanley to go out and get kids at a collegiate level to give them the informatima before all the leeches come on and they can't hear you. when they become a professional, they don't know who to trust but get to them early and i think if you establish a relationship with them, set ground rules, get

a general understanding, you give them options and tools to make an informed decision. athletes are cultural. if we get information, i think we let these kids come out and make millions of dollars for games and say, you got it from here. >> you've bn in the middle of this. what's it like to be at the top of the game, try to be performing and not know what you're doing with the stuff? maybe not necessarily have a background in financial. >> a lot of times, we're the first people. the members of our family, our household to go to college. we can't go back and ask our parents what to do with it. so it's just uninformed decisions and what happens is a lot of us come from urban areas and we're used to seeing the schemes but we become prey to businessmen, people that are far more educated and it sounds good and athletes a lot of times so prideful, they don't want to admit they don't understand it, they don't know. >> you work with a lot of athletes including people like antoine walker, who had $108

million that he lost and went into bankruptcy on these issues. how do you possibly tell someone to start over after a huge whip saw like that. >> the antoine situation, it's about the educational perspective. we brought bart and antoine on board and be involved with the program so as bart indicated, we could go out, educate individuals at an early age. you know, antoine had a scenario where people can relate to where he came from being this all-star high school plar and then going to college, but it's all about having a solid foundation and getting that early out of the gate so you can make smart decisions and have good discipline in place when these things come at you. these careers are very short-lived and these individuals are making decisions at very young ages and the sooner they canet information that provides them to be a lot smarter about their finances is all about w we created this program with morgan stanley global support system. >> it's probably the same thing

for other individuals too. not just athletes. >> we look at lottery winners, right? they just get a bunch of money. they don't know what to do with it. they become prey as well. young entertainers, actors. knowledge is power. >> what lessons have you learned along the way besidesthat? is t there something you wish y would have done differently knowing what you know now? >> making sure that i'm more informed. i made some silly financial decisions. i mean, we can all say that at a young age. you give a 19 or 20-year-old a million dollars, he thinks it's a million dollars but you learn about taxation, you learn about insurance. how to protect yourself. how to have emergency funds if something happens bad. most still have to come out and get another occupation where we finish. >> bart, joe, thank you. >> greatly appreciate it. now here's a look at what's making news as we head into a new week "on the money." the federal reserve did what it's done for the last seven years this week and kept

interest rates near zero. that is much anticipated meeting this week, the fed left rates unchanged. many had expected an increase of about a quarter of a percent, but the fed cited a weak global economy and low inflation. members say the hike is likely by the end of the year. of course, there are two more meetings scheduled this year. the fed's non-movement didn't do much for stocks. the dow falling after a surge earlier in the week. the markets continue to fall on friday. americans kept spending in august. retail sales rose 2.10% this week. strong gains in retail. always closely watched because consumers make up more than two-thirds of the u.s. ecomy. and a long awaited facebook dislike button may be in the works. ceo mark zuckerberg said they're working on it but the exact form of what it will say is unclear. people are worried about additional cyberbullying. up next "on the money," it started as an idea.

the clothing store just for moms. meetet the stay-at-home mom who built the company from scratch. later, most of your waking life is spent at work but more than half of all americans are unhappy at their job. what motivates good workers? we're going to find out. as we head to a break, let's look at how the stock market ended the week.

18 years ago, former third grade teacher was a stay-at-home mom in minnesota with an idea for a start-up. no retail experience, but she opened a clothing store for women like her. young and busy moms and she called it hot mama. today, after a name change, she is the ceo of every, an online retail change with more than 700 employees. megan, thank you so much for being here today. >> thank you. >> what i love about your story

is that, how you came up with this idea, how you came up with your dream and pursued it. what happened? this was 18 years ago and where were you at that point? >> truly, i was a stay-at-home m mom, very hap to be home with my kids, but at the same time, i was feeling a little slumpy, like i needed a little fashion in my life. so i decided to go out shopping and to find some clothing that i would feel good in and had a disastrous tp to the shopping mall as a mom with kids. on the way home from that really bad trip, i had this idea that hit me. i thought there should be a retail brand that made fashion accessible to moms because i was just so busy taking care of my family and loving my family, i didn't have a lot of time for fashion. but i wanted fashion. i wanted to feel good and beautiful. and i felt like there was no retailer that was really addressing this lifestyle of a mom. and quite honestly, for seven years, i dreamed about this concept called hot mama at the

time. and would talk about it and create it in my mind for seven years. >> i love the name hot mama. when i was first went into the store, i thought the name was so cute. you changed it. why? >> although we love hot mama and meant so much to us, some people when they heard hot mama, they thought we were a maternity store. yeah. yeah, and we're not a maternity store. so we wanted people to know we are a store for moms. we are a company that is on a mission to help moms realize their beauty and their power and celebrate motherhood. but we are not maternity. we changed our name to address that. >> that's an issue with the web site too, right? >> hot mama, might not want to go to the web site. every's right now and we changed our name about a year ago. and we're so thrilled. >> you have stores and online both. >> 60 stores coast to coast.

>> another 21 states by next spring you're thinking. so you're looking at taking the next step at this point. >> we are and growing our ommerce business and we have, we just launched a new shop, a new way to shop called transcend. it's a shopping service. it's a styling service we will send boxes to moms, to women, and we'll pull outfits, our styles in our stores pull outfits for them and send them product to tehome to shop at ho and send what they don't want back. >> you started this when your kids were young. think about it? >> my daughter went to college. and i think a lot of times, people think that she's seen the glory of building a business, but really, what our kids have seen is a lot of fear, a lot of risk, a lot of conversations in our house about being brave and being courageous. and shares your story. so i think they've gotten their mba at the dinner table for sure. which has been fun.

but i think they've seen their mom and dad because my husband is involved in this as i am. i think they've seen us partner together and build something beautiful. and it's not always easy. i think they've seen that. >> in fact, it's not easy. you've learned i'm sure a lot of lessons along the way. if there was advice to give to someone else they think might make a difference too, what would you tell them? >> i think it needs to be for me. i did not put out to make a lot of money or become a ceo of a fashion brand. i really, my heart was so much about helping moms realize how beautiful and powerful they are. so i think that idea of finding work, something that you believe in that really is meaningful makes work so much fun. and i would say just go after that purpose and that meaning, that greater idea. it's made this whole thing so much fun because i really care about helping moms. >> megan, i want to thank you s

much for your time. >> well, thank you. up next, we are " "on the money." beyond the paycheck. what makes a job rewarding? coming up, the professor with the secrets of why we work and later, i if you have whether itesakes 200,000 parts, 800 hours of super computing time, 400 sets of eyes or a million sleepness nights, bui the next space station or next lead, at boeing, one thing never changes. our passion to make it real. it's more than a network in the cloud, it's reliable up time. and multilayered security. it's how you stay connected to each other and to your customers.

for millions of americans, despite the arrival of that

paycheck, the workplace is a source of frustration. not fulfillment when it comes to the end of the week. in his new book, why we work, college professor barry schwartz breaks down why so many of us are unhappy in our jobs and how to change that. thank you for being here. i think it was shocking showed % of americans either not engaged or actively disengaged when it comes to work. >> 90% of employees in the world. it's slightly b better in the u. >> why do we hate our jobs so much? >> because nobody has tried to make jobs that are worth liking. there's an assumption that has guided the development of the private sector for centuries that the only reason anybody works to get paid, and as long as you're getting paid, it doesn't matter what you do. >> what do people want more of at work? >> severaler things. first of all, they want to do work they think the meaningful. the work that has some positive effect on other people.

they want workk where they have some control, discretion, and autonomy. they want work to feel respected by the people they work with and the people who supervise them. they want work to have an opportunity to learn, develop, and grgrow. they also want a paycheck, of course they do, but a paycheck is not a substitute for these other things. and we've acted as if you get the pay right, you don't have to worry about what the job is. >> that description seems like it would work and you've been pointing out it would work if you are a doctor and suddenly, give up working at a curshy job. how does it translate to the people at a safe spot andnd don need the income? >> i deliberately discussed people who do the kind of work who you might think offers no opportunity for this sort of rich, engaging life. like janitors who work in hospitals. their job is wash floors, wax floors, empty trash, blah blah

blah. just what you would expect but some of them think their job is to comfort patients, to get patients to laugh, to ease the anxiety of the patient's families. none of that is in their job description. but they think their job is doing whatever i can to make the hospital run better. so as a hospital janitor, the lowest of the low in the hierarchy there can get meaning and satisfaction out of that work, then potentially you can find it in almost anywhere. >> one of the best places to work in places that are doing things like that this? >> one place that's spectacular from everything i can see and everything i've read is the container store. and all it is is retail. they're no different from any a other retail except that when you walk in there, they think the most important thing in the world is to make sure that you leave with exactly what you need, nothing more and notng less. >> don't feel like you're pulling one over on somebody.

>> you're not trying to pull one over. you're trying to satisfy a consumer need or desire. every time you succeed, you've improved that person's day but seldom get encouraged to have that attitude by the people who supervise you. >> thank you. it certainly made me think and i hope people check out your book again. why we work. thank you so much. next "on the money," news for the week ahead and technology, keep your credit cards safew it works, when it sd what it means.

for more on our show and our guests, go to our web site. otm.cnbc.com. existing home sales for august. tuesday, pope francis arrives in washington, dc for a six day u.s. visit that also includes new york and philadelphia. wednesday, you can kiss summer good-bye. that's right. boohoo. autumn officially begins. on thursday, we'lle' be getting new home sales for august. also on thursday, durable goods orders for august are due, things like appliances that don't have to be purchased frequently and friday, the second read of the gross domestic product for the second quarter of the year. a new credit card or debit card in the mail recently, you're not alone. a shift to a new technology that should make transactions safer. in addition to the usual magnetic stripe, these cards have an embedded computer chip and should be in place by october 1st.

senior personal finance correspondent zwrojoins us with more. i haven't turned it on yet. i guess that's the next thing i have tvedo. >> definitely activate that card. the goal is to provide consumers greater protection against fraud and card fraud $8.5 billion a year. card issuers are taking action to make it more difficult to counterfeit these cards with new technology called emv which stands for euro pay mastercard and visa. the credit card companies came up with the standard but many consumers don't know exactly how it works. >> is it like a chip in a credit card? >> i know it's for protection. >> a few as replacements. it was the last few for credit card companies. >> on chip or credit rd an added layer of protection against fraud. >> it's harder to make an actual replica of that credit card. and it creates a u unique transactionode that's passed to the merchant every time you

make a purchase with the card so that means the merchant will have a lot less of yoursable data. >> that small metallic square on the front makes it more secure. when point of sale terminal, the chip creates a new transaction code for every purchase you make. >> there's so many steel in the transaction code, it tries to use it someplace else to make a purchase, it won't do them any good. it's essentially like having an expired password. >> upgraded terminals can cost 200 to $100,000 per advice according to the reserve bank. a hefty expensive for small business owners slowly starting to transition. >> this machine doesn't accept chip cards. but i would contact the merchant service to upgrade it to a new machine to accept the chip. >> because as of october 1st, if there is card fraud and a store has not changed the system to accept chip technology, the

merchant, not the card issuer or payment processer, could be held liable.ab >> if a merchant doesn't have a terminal that accepts emv cards and there's an instance of fraud there, then that merchant is likely to bear the liability and that's a big change from the past. >> another big change? no more swiping the card along the magnetic strip. instead, you'll dip, so the terminal can read the new chip. you'll still have to sign or enter a pin number for your transaction, but what you do will depend on the verification method that is tied to your new chip card, not whether your card is a debit card or credit card. that's the change. >> i know they've been using this technology overseas and credited with cutting back on fraud but part of the reason for that is our cards were so much easier to hack. if we all raised to the same standard, give us the extra protection. >> it will definitely give us extra protection at the brick and mortar stores but a lot of

folks are saying it may not give much protection whent comes to online card fraud and we see an increase in that several billion dollars a year in the cost of that. so we are going to see some protections. it's in the cyber world. >> thank you so much. that's the show for today. i'm becky quick. thank you so much for joining me. next week, are you in the market for a new car? yeah, i am. should you buy or lease? we'll tell you what you need to know to get the best deal. there's information i need to know. each week, keep it here. we're "on the money." see you next weekend.

good morning, america. happening now -- historic visit. pope francis in cuba. greeted by cheering crowd. abc's terry moran getting the handshake, as we're live in havana this morning for the big mass. plus, the pope's message to americans ahead of his u.s. visit. >> see you in philadelphia! telling it to the judge. the man accused of terrifying motorists as the phoenix freeway suspect speaks out in court. >> i didn't have access to a weapon. >> will his alibi stick? no apology, donald trump defending himself this morning over how he handled a supporter. >> am i morally obligated to defend the president? i don't think so. righ