This is on the money, your money, your life, your future. We begin with hackers. Theyre not just after your Social Security number cyber criminals can break into and damage embedded devices like office phones, printers, even ventilation systems. Our andrea day found Security Experts working to defend against hack attacks it is this weeks cover story. No demo is complete until weve tried to physically destroy the device. When you interview this ceo you may wind up evacuating. All right lets get out of here. He founded the Cybersecurity Firm red balloon here in new york city. This is where the magic happens . This is where the magic happens. The goal is to make embedded devices more secure, and that means breaking in, taking them apart and exposing flaws. Yes 100 of these devices can be compromised in some way. 100 . 100 . Embedded devices are like Mini Computers inside almost everything you can power up, from smart home devices to medical gear and cars, at every financial exchange, power plant, air Traffic Control and almost every company in the word. This is probably the most important cybersecurity threat that we have today because these computers control every single aspect of our Critical Infrastructure we depend on every single day. According to a report by Market Research firm radiant insights, the global embedded System Market is projected to be worth 214 billion by next year this is a small version of an air filtration system thats in a lab the team is working with right now. You dont want the dirty air to come out ever, and this computer will allow that to happen. They hack devices inside the fans controller, not only forcing the dirty air in the wrong direction but ultimately shutting it down, and it goes up in smoke. Thats awesome. But he says the issue goes way beyond this demo the team recently uncovered a major vulnerability in more than 100 devices made by cisco, the largest manufacturer of equipment. According to red balloon, we are talking about a potential attack that could sell for millions they let cisco know what they found and the Company Published this critical advisory cisco turned down a request for an oncamera interview, instead releasing a statement saying in part, cisco is committed to transparency and is not aware of any malicious use of the vulnerability that is described in this advisory cisco will release fixes for this vulnerability we asked cisco if a tool exists right now to know if a device has been hacked. The company telling us in part, an audit tool is not currently available. We recommend customers review the security advisory to assess the best way to protect their network. We wanted to find out what other Industry Leaders are doing to protect their embedded devices and reefed out to hp and huawei. Both companies were not part of red balloons findings hp is the largest manufacturer of printers which contain embedded devices andy rhodes is the global head of hps commercial pc business his companys advertising claims to have the worlds most secure printers. We put this special code into the printer so that it is always looking for malware in devices. Huawei did not agree to an interview or provide comment im andrea day for on the money so how can companies outsmart the hackers . Charles henderson is global head of ibm securities x force red. Their job is to stay ahead of cyber criminal s charles, sounds like you have your work cut out for you. We really do. It is a great job though we get to go against technology, make Technology Break and solve those problems before criminals have a chance to exploit them. We saw a couple of examples of the damage that hackers can do, but when you are looking at the big picture, whats the overall, overarching word for the companies . If they can break into these embedded devices. It isnt so much will you have flaws but how will you handle the flaws when they become apparent, how will you fix them, how will you get the fixes out to your customers, how will you make sure that devices in the field, whether theyre in the home, in the office or somewhere in between, are secure but what is behind the motivation i mean are hackers potentially doing this just for pure sabotage reasons or are they holding the companies hostage, hoping for a ransom in order to reverse those hacks . In most cases it is monetization criminals like money you know when you can compromise a device, when you can compromise a system, it may lead to an investment that you can get a return on that you can monetize that could be compromising credentials. That could be compromising financial data, or it could be something that device is connected to if you think about what weve done, we have invited the internet into our homes, into our offices, everywhere in between, and it turns out the internet is a crappy house guest. And they call that the internet of things, when you have your thermostat and your lights and your stereo and your heating all hooked up to the internet so how do you protect todays smart buildings, smart homes from this type of hacking . Well, first of all, you test those things before you deploy them in a building, in a home, et cetera. Most consumers cant do that kind of testing, but rely on known brands that will have done that kind of testing on their own. The second thing is make a risk judgment i mean do you really need to see what is going on inside your fridge from across town . These are legitimate questions you need to ask because everything you do with internet of things, with these embedded devices brings about risk. So it is a risk reward ratio. What do we as consumers do proactively to keep those things that are internet connected safe, to keep our personal data that might go into that safe it is important, first of all, to use devices that are current, that are supported. If you think about these security vulnerabilities, theyre quality defects. In the same way that your fridge ice maker might stop working after six months, your fridge may have a vulnerability six months in. You want a company that will take care of that ice maker, that will replace the ice maker under warranty and will have a good repair record, because chances are if they can fix the ice maker they can have a Security Patch to deploy to your fridge. Im going to ask about individual companies, but do you think companies are doing enough to protect themselves and their customers from this kind of intrusion . I think most are, but you see companies doing more and more every day. We are Getting Better as a general society at security testing. We removed the stigma of the vulnerabilities, it is not so much a failure in security but a chance to improve when you find the vulnerability. A failure in security is a compromise, not a vulnerability. Charles, it is great to see you. Thank you so much for your insight and sharing your experience with us. Hey, thanks for having me up next, were on the money what if the gas station came to you . Fuel on wheels on demand brought right to your vehicle. Later, when planning for retirement, how much is enough is there a magic number you will need to start saving now and a look at how the stock market ended the week. Heres another cleaning tip from mr. Clean. 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New crest gum and sensitivity starts treating sensitivity immediately, at the gum line, for relief within days and wraps your teeth in sensitivity protection. Crest. If youre tired of pumping your own gas and you want to take that chore off your to do list, theres a new startup thats fuelling disruption by reinventing the gasation our aditi roy has more on a colorful new business that may have you saying, tanks a lot. Reporter these purple tankers filled with gas are on a mission. They drive to parking lots of fortune 100 companies and one by one the Drivers Behind the tankers fill up the gas tanks of the cars in the lot. They work for booster, a Silicon Valley startup, trying to disrupt the retail gas industry by offering ondemand gas refuelling at a time when demand for gas is at a record high. I had been a pilot so i had seen mobile fuelling done for small planes and thought, hey, if you can do it for small planes why cant we do it for cars. Reporter the founder is a former pilot and nasa Rocket Scientist who started the company in 2015. One of the reasons i started booster is i dont like going to the gas station. My wife did not like going to get gas either and i was assigned to be the chief fuelling officer for our family, meaning i was the one that had to do that errand twice a week. Reporter since its founding the client attracted clients like facebook and cisco who offer the service as a perk. To date booster has raised 88 million in funding. Theres 500 billion in gas in the United States that is pumped but it is such an archaic process and broken process we love frank has a vision. Among the companys investors enterprise rent a car which uses booster to refuel its fleet. Booster is currently in 20 cities across california and in dallas and plans to expand up the Pacific Northwest and to both coasts in the coming 12 months. We have been on a record clip the last few years, growing two to three fold every single year. Boosters prices are typically a bit cheaper than the nearest gas stations in the area and fluctuate with the market for gas prices while the startup mostly works with Company Clients for now, it occasionally does events at parking lots of malls and gyms to try to make its Services Accessible to more consumers. And thats really the companys ultimate goal, to make the service as accessible to as many people as possible, even though it made more economic sense to partner with businesses first since the company has a readymade pool of consumers it can reach that way contessa, when asked whether they may some day provide mobile charging for electric calls, the company didnt rule it out as a potential option down the road. Are there competitors for this there really arent any notable competitors out there. While it seems like a great idea and simple one, the company says figuring out how to execute it is complicated and it is a big barrier to newcomers. Thank you so much so interesting up next, we are on the money ready to retire . How big should your nest egg be . Setting a savings goal for your retirement later, kids are heading back to school, and if theyre off to college they may need a whole new type of supplies the best gadgets for your student. Could lead to way cleaner teeth. She said, get the one inspired by dentists, with a round brush head. Go pro with oralb. Oralbs gentle rounded brush head removes more plaque along the gum line. For cleaner teeth and healthier gums. And unlike sonicare, oralb is the First Electric toothbrush brand accepted by the ada for its effectiveness and safety. What an amazing clean ill only use an oralb oralb. Brush like a pro. Olay ultra moisture body wash gives skin the nourishment it needs and keeps it there longer with lockin moisture technology. Skin is petal smooth. Because your best skin starts with olay. Na blend of quality probiotics. And fermented whole food botanicals, expertly curated to naturally support your gut health every day. Go with align whole food blend. From the pros in digestive health. My mom washes the dishes. Before she puts them in the dishwasher. So what does the dishwasher do . Cascade platinum does the work for you, prewashing and removing stuckon foods, the first time. Wow, thats clean cascade platinum. My mom washes the dishes. Before she puts them in the dishwasher. So what does the dishwasher do . Cascade platinum does the work for you, prewashing and removing stuckon foods, the first time. Wow, thats clean cascade platinum. Here, hello starts with hi mple. How can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone [ camera clicking ] wifi up there . Ahhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your xfinity store today. In planning for your retirement, do you know how much cash you will need to live comfortably when you stop working . Charles schwab recently did a survey of 401 k participants to see what people think is that magic number with us now, abel nooney, Charles Schwab Vice President and senior financial consultant. Great to see you here today. Thank you. 1. 7 million is the average amount people think they will need for retirement. Yes. How long do they think they will need that money to cover . Most people, they plan to retire in their mid 60s and, you know, people are living a lot longer now days. So usually around 30 years. So 1. 7 million over 30 years what is your typical response when people say, well, im covered because if you factor in my Social Security and what i have saved and what i have invested i will be good . We typically try to look at our what is your lifestyle going to look like, how much are you spending, what doo y you ha in terms of income. Do most people assume they will spend less in their retirement than in working years . Absolutely yes. Most people look at im not going to have a mortgage when i retire, you know, i will be doing less traveling from, you know, home to work so i will have a couple of less expenses usually they fill in some of the gap with vacation. What do people tell you about why they dont put more money into their retirement accounts so there are a lot of competing, you know, goals for savings. They might have kids, theyre saving for college, they have to pay back student loans, they have you know, theyre taking care of their parents. Thats a big one. Sometimes thats a big one, yeah. And what do you think people should do, what steps should they take to build up their Retirement Savings so that they can count on that nest egg beyond, say, 20 years of retirement a big thing that, you know, we advise clients to do is take advantage of their employer match. Thats really important. So you want to make contributions for at least that, but ideally as you get raises, as you get bonuses, you are putting more towards retirement. Is there a percentage that you think is really a magic goal it depends on how old they are. In their 20s, you know, anywhere from, you know, 10 is not a bad starting point if you have saved nothing for retirement and youre in your 40s, it could be up to 30, 35 . Wow okay you know, because you are advising clients, we have had such volatility in the stock market right now, what are you telling people who are calling you and worried about the impact on their retirement accounts so most people i work with have some kind of Financial Plan in place, so what we do is we go back through that Financial Plan, make sure theyre on track. So weve accounted for some of the volatility we have experienced and we expect that were going to actually have more going forward, so one of the key things is just make sure that is it still are you still on track, are you still meeting up with your plan. Abel, thank you so much for joining us and giving us insight. Thank you up next on the money, a look at the news for the week ahead and the backtoschool gadget guide, from getting around campus to taking notes in class, the best tech for students oh, by the way, how much is it going to cost you . Maybe it is going to take away from retirement. Olay ultra moisture body wash gives skin the nourishment it needs and keeps it there longer with lockin moisture technology. Skin is petal smooth. Because your best skin starts with olay. Here are the stories coming up that could have an affect on your money this week on tuesday we will get a read on inflation with the Consumer Price index for july wednesday, we will get another gauge on inflation with last months import and export price report thursday, a look at the consumer with julys retail sales well also see how factories are faring with julys Industrial Production report. Friday, the Housing Starts report will come out that shows how many Home Construction projects began last month. Oh, by the way for all of you thrill seekers out there, if you are not getting enough volatility in the stock market, how about this friday is National Roller coaster day. Summer is soon coming to an end and the new school year is about to begin this year families with College Students are expected to spend on average nearly 1,000 totaling 54. 5 billion on School Supplies joining us to tell us the best gadgets for your buck is dana woman. This hasnt been a trend for multiple years that doesnt seem to be going away if you are sending your child to college, theyre a young adult, they need a laptop. This is still the most popular category if gadgets backtoschool guide going by the number of clicks we get on the stories and apple just refreshed its macbook line for the fall this is the macbook pro that used to be somewhat out of reach for a lot of students, which is to say although it started around 1,300, you had to pay more like 1,800 with the fingerprint sensor which is my favorite feature about the macbook pro line. Because of the security security and convenience. Imagine having to type out a long password, a genuinely secure password every time you want to log in i love using my finger like on an iphone. What about note taking apps are there particularly ones you like that you think are effective . One of the most popular stories in the guide is the guide to note taking apps. It is not a one size fits all, but for most students we are recommending evernote because it works on such a wide range of devices. People think of note taking apps as something that you scribble your handwriting but now the best have built in audio recording, built in camera apps that recognize handwriting. When i was in college i remember junior year i came back to school with a bike for the first time at campus todays gadgets have moved way beyond bicycles. You could bring a bike to campus you also could bring an electric skateboard we have a section in our guide this year for electric vehicles, there are electric bikes, skateboards and scooters for a lot of people are skateboards. Theyre portability, transportable on things like buses and planes this thing can go pretty fast, up to 18 miles per hour. Are there campus rules that keep motorized skateboards, scooters, those kind of things off campus walkways . It could vary we are seeing skateboards at a lot of campuses, especially warmer weather environments. What about again, i am reaching way back in the memory to think about hot pots which were not allowed in dorm rooms but people had them anyway how are people cooking up their ramen these days is it still a microwave . There are a lot of different options. We recommend among other things the instant pot. This is the mini size. Better to choose a compact size for a dorm room. It is a slow cooker, pressure cooker, it can saute it is allowed in most dorm rooms because you just plug it into an outlet i think this can make people look more sophisticated and confident cooks than maybe they are first entering college. Plus, there are youtube videos on how to cook your stuff in your instant pot. A huge subculture around the instant pot. Which i havent mastered and i have two of them but waver what about gaming. You say it is a popular category, though as a parent im thinking, why are you gaming, you are supposed to do your homework totally in the 1829 demographic, nearly one in two are gaming. Nintendo switch is a little cheaper at 300 and it is both a home console but also portable you can dock it in front of a tv but easily take it to someone elses dorm and play a whole raft of party games and nostalgia game people really like, super smash brothers, mario cart i am in my 30s and people still bring it to other peoples homes to get the party going. Thats pretty funny i bring my ipad with heads up and i am playing a different kind of partying i have learned so much it is almost like going back to college myself thank you so much, dana. I appreciate it. Thank you. Thats the show for today im Contessa Brewer becky will be back next week next month, vaping is on the rise but so are restrictions on ecigarettes well take a look. Well see you next weekend well see you next weekend the ri brighten, and visibly smooth wrinkles. In fact, just 1 jar has the hydrating power of 5 jars of the prestige cream. For visible results without prestige prices, try Olay Regenerist with a money back guarantee. And complete your routine with the olay eye collection. Brand power. Helping you buy better. I went straight to ctca. After my mastectomy, i felt like part of my identity was being taken away. My team made me feel whole again. Cancer Treatment Centers of america. Appointments available now. Good afternoon hey there, everybody it is friday at 5 30 p. M. Here at the nasdaq, and that can only mean one thing, and you know what it is it is time for options action and here is what is coming up on the big show next week is a big one for retail earnings, peaking with the elder statesman that is walmart. While the stock has been up 15 so far this year, carter worth now has some words of caution. And global trade worries took their toll this week with seemingly no place to hide from the ripple effects but dan nathan has a name he thinks has a clear plan of action to insulate itself and,
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