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tv   On the Money  CNBC  July 14, 2018 5:30am-6:00am EDT

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>> it's one of the biggest financial decision you'll ever make but there's a lot of myths about when to take social security we'll help separate fact from fiction. the new subscription service for kids build and learn, and guess what. no screen needed and the new twists on downward dog goat yoga is actually a thing,
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and our jane wells gave it a try. >> do the goats ever jump on this because that would be weird? >> "on the money" starts right now. >> announcer: this is "on the money," your money, your life, your future. ♪ we begin with your smartphone if you think turning off the gps feature on your phone stops someone from tracking you, think again. researchers at northeastern university say they were able to follow users as they drove through different cities around the world with their location service turned off that's our cover story today, andrea day has more. >> reporter: this is a map of waltham, massachusetts, and the red line is someone driving around the city. >> they ended there at b.j.'s wholesale is. >> reporter: that's pretty accurate. >> reporter: a team at northeastern university say they were able to track the driver's moves. it was just a test he's a recent doctoral graduate. >> secretly i am finding the
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location. >> reporter: but get this. he says they were able to find almost every twist and turn, even though the driver had his phone location turned off. would the user have any idea >> no idea at all. >> reporter: it's called a side channel attack because it targets sensors in your device that weren't designed to provide location like the accelerometers it measures like a gyroscope and magnetometer which works like a digital compass. a professor at northeastern university. >> they realize that their mobile phone with access to all these sensors is in some sense essentially you're looking at the best spying device you can imagine. >> reporter: and he says combining readings from the sensors could arm criminals with secret info. >> as they become more and more accurate this may become a primary means of invading a user's privacy. >> reporter: they tested it out in cities from new york to london and say it works best in boston where streets aren't set up like a grid. >> if you're to travel the same
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path every day we have an extremely high probability to guess where you live and work. >> reporter: he says hackers could access your device through a malicious app like the simple flashlight the researchers created. you need to have an app installed on the phone, but once that is done, all the other processes are automatic. >> reporter: and he says some apps may have complete access to some of the sensors in your device without asking for per miss. >> as long as you have your phone switched on and the app is already installed on your phone, this would record your information. >> reporter: the team used android devices for the study but say it would also work on the iphone because permissions for the sensors are similar. apple declined to comment. google tells us its latest operating system, quote, restrict access to sensors such as accelerometers and gyroscopes and sensors do not provide location data hand this research highlights just how difficult it would be to use the sensors for
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location tracking. is there currently a way for users to turn all the sensors off? >> unfortunately, there's nothing. >> reporter: the team is now searching for a solution meantime, the best way to protect yourself is only download apps from google and apple's official stores and always keep your operating system up to date. for "on the money," i'm andrea day. >> joining us now to talk about the risk and how you protect yours brian vecci, the cyber security expert with v rah ronis. good to talk to you today. we saw how people can be tracked even though their location services, their gps is turned off. were you surprised to see if >> not at all. we carry around super computers that are gathering all kinds of information and when you turn off location services. as you saw, the phone is gathering a lot of other information, combine other information along with pubically available information like weather reports and maps, you can figure out where somebody. >> what's the biggest threat knowing that we can be tracked even if we're turning off location services? >> the biggest threat is like
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anything else. your phone is gathering a lot of information beyond just having a microphone and camera, and you have to be aware of who is getting that data and potentially how it's being used. >> is there anyone who is more vulnerable you're assuming that if you go in you know how to put it in airplane mode or turn off location services? there's a lot of people -- i'm thinking about my grandmother. she doesn't even know how to do that. >> she may not, and when an app gets installed it often asks you do you want to grant access to your photos, microphone or location services and you can say no and a lot of people say yes to everything, assume that the app is going to use that information for some kind of convenience. you have to be aware of the apps that you've got and what they are gathering. >> how do you protect yourself >> first of all, put your phone in airplane mode hand don't download apps you don't need a lot of apps, these kind of attacks can just be small pieces of code in an app that you don't think is being used for something like that, like a flashlight app. >> even if you go through and
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delete the app off your phone it's still in your library of apps so every time you update your phone it automatically goes to update the apps again and puts them back on your phone. >> puts them back on and even some of the data gathered even if you deleted app it's still there. >> in europe they have general dater, protect regulation. does that help people. >> what the gdpr says that information companies gathering about you, not just your name and address and driver's license, also the information that be linked back to you personally has to be deleted if you no longer need it and if you ask them they need to show it to you and delete it. >> as a security expert should we have that kind of legal protection here? >> absolutely should california has just announced they will have a new privacy law for california residents by 2020 probably going to happen everywhere. >> we know that congress has started the process of looking in on this, pressing the ceos of apple and alphabet which is google's parent to know things like is your known listening to you, and if it is, what are you doing with that information? >> and that's really -- that's really important for congress and other governments to be asking those kinds of questions
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because google, amazon, apple, big companies are gathering information about us and exploiting it and getting value from it and we need to have them delete it if we ask. >> how easy would it be for google or apple to make a phone that when you turn off location services it turns off the gyroscope? >> it would certainly be very easy one of the issues is issues of convenience. apple could ask you about every one of these sensors and we get trained to say yes to everything and now it's gathering data all the time. >> really thought-provoking. brian, thanks so much for coming in and talking to us. >> up next we're "on the money." looking to retire but not sure when to take the benefits. we'll help to you decide the best time to start claiming social security. later, hey, what's in that box? that's something i get asked a lot every time there's a delivery a surprise with a toy inside for kids, and then for parents a learning project that can
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actually teach real skills. now a look at how the stock market ended the week.
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>> inflation maybe on the rise the consumer price index increased by .1% from the previous measure in may. but the cpi also showed the biggest yearly increase in six years rising 2.9% from june of 2017 inflation is closely watched by the federal reserve when members decide how much and when to increase interest rates. stocks had a mostly positive
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week the dow snapped a four-day winning streak wednesday after word of new tariffs on china though it rebounded thursday the nasdaq closed at a new record and s&p 500 climbed as well the market continued up on friday, and the founder and chairman of papa john's pizza has resigned senator schnatter admitted to using a racial slur on a conference call. the company will appoint a new chairman in recent weeks. figuring out how to get the most out of your social security benefits may be one of the biggest financial decisions you make more than a quarter million americans rely on it as primary of income in retirement and yet a new survey shows only 20% know a great deal about how the benefits actually work senior personal finance correspondent sharon epperson joins us now with more sharon, what are many so of the common myths about social security i mean, a lot of people think it's best to claim social
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security early for benefits. >> a lot of people think i've worked hard. i need to get my social security as soon as i can because it's my money, and the earliest that you can claim social security is at age 62 more than a third of americans actually claim it at 62. 34%, according to the social security administration, and 57% claim it early to find out what your full retirement age is, you need to go to it's based on when you born, and it's not what most people think may be the retirement age. you need to real check it out. >> interesting another one you should claim your benefits at 65. people think that's the ideal retirement age does the social security administration agree with that >> not for many people working today. for many people working today the current full retirement age is 66 or 67. 65 is the age that you need to look at for your medicare coverage. >> oh. >> but that's not the full retirement age according to the social security administration for many workers, so, again, you need to go to that website and figure out what your full retirement age is to get your full retirement benefit. >> should your marital status
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affect when you take benefits? >> your marital status should affect it for several reasons. if you're currently married your surviving spouse when you pass away they will get the larger of the two of your benefits, so those two benefits, your social security benefit and your spouse's, both of you working, the higher one is what the survivor's spouse will get so you want to delay taking, if you're the higher earning spouse taking benefits so that your surviving spouse will get the larger amount. if you're divorced and you were married for at least ten years, can you get your ex's social security benefit a lot of people don't realize that as long as you're 62 and married for ten years and you don't remarry you can get your ex's social security benefits >> what if your ex is repair -- remarried do you still get them? >> it doesn't matter. >> and what about getting stuck with the benefits. >> you're not stuck. you have 12 months to withdraw your application and you can refile it when you're really ready. say you decide to take benefits at 62, that's too early. as long as you do it within 12 months, pay back what you've been paid back from the social
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security administration and you can file again when you're really ready if you're beyond the 12-month mark you can at your full retirement age, maybe 66 or 67, suspend benefits and wait until 70 which is the latest that you can take it and get even greater benefit. the ideal thing to do is to wait to take it as late as possible that's age 70 because you are guaranteed an 8% increase in your retirement benefit every year that you delay past your full retirement age. this is nothing in the market right now or probably ever that's going to give you a guaranteed 8% return so that's something that people really need to consider, and what if people like me are planning to live to 120. just kidding 70 is the latest you can do it to get that presented, but you do want to wait as late as possible >> if you do it at 62 and i'll get my money as soon as possible, that's a reduced benefit and you'll have the reduced benefit for the rest of your life. >> sure. >> sharon, appreciate that. up next, we're "on the money. worried about summer slide or
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brain drain. the a fix could be in the box. getting kids to learn while they are having fun and later how this business combines yoga and of all things goats to create a six-figure success story ♪
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kids love getting mail and getting toys in the mail even better, but what if kids were learning real science and engineering skills while they think they are just playing.
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that's the idea one mom had when she created kiwi crates. sandra olin is the found kiwi co screen time is a huge concern of how often kids are sitting in front of phones and ipads and tvs. was it one of the driving factors setting this company up? >> one of the factors was to get kids hands on and exercise their activity with product and with materials, learning how materials interact, understanding spacial relations and hopefully just really seeing themselves as creative problem solvers so, yes, a huge component what have we do is hands on but we actually supplement it with digital activities, too. >> okay.
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>> so we have videos of how to put things together and videos of how things work, the science behind things and we really believe in kind of an immersive experience hands on as well as digitally. >> you have different crates for kids of different ages can you give us an idea what have kids will find in these boxes. >> absolutely. so inside of every box we have some examples here you get all the components to make a project or set of projects for the youngest age range for pre-schoolers, tea three different projects because they have a really small attention span, but it's all centered on a theme, like reptiles or rainbows as they get older for tinker crate ages 9 to 16 plus it's mainly one major project that they are working on to see that they can work on something a little more involved get all the materials and make the project and we also include a blueprint which is a set instructions, also inspiration on how to tinker with a project, and they get a tinker team, and they get a chance to see how they see this in the real world and learning about the actual science and engineering behind the project. >> i mention that the crates come in the mail this is a subscription service. >> we're an e-commerce company, so we ship these directly to the kids
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this is special, hopefully a fresh and delightful experience for the kids they get the box in the mail with a shipping label with hair name on it. >> how do you come up with the ideas what have to put inside a box each month >> we have a really talented team of product designers ranging from educators to engineers to we have a former rocket scientist. >> what, so when you say oh, actually this is rocket science. >> yeah. and so they are really just great designers who are able to take kind of the ethos of what we doing and trying to create problem solvers and critical thinkers. >> what was the biggest challenge in turning your big idea into a working business >> so a mom of three kids and wanted my kids to get hands on so it was difficult about finding materials and inspiration and so as they started to do that i thought, gosh, i'm going to amortize my time and effort and start to reach out to my friends and what i ended up doing is a friend said you should start a business around this, and that's how we kind of got started. >> this is something that comes in the crate you put this together, and then
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you turn the wheel so kids are not only putting the project together but then they can play with it it's a great toy to play with even if you're a grown-up and yours is an actual robot >> right, it's a robot, something they can customize, make it walk forwards and backwards and really trying to engage their mind as well as their creativity. >> that's amazing. thanks for come in and sharing the inspiration behind kiwi. >> of course. up next on "on the money" a look at the week ahead and a new fitness trend combining downward dog with upright goat. >> this is the hardest plank i've ever done ♪
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here are the stories coming up that may have an impact on your money this week on monday we'll get retail sales numbers for june, and president trump will meet with vladimir putin in helsinki, finland this will be the fourth meeting between the two leaders since president trump took office. wednesday the federal reserve will release its beige book, a summary of economic conditions across the country. comic fans, listen up, thursday comic-con begins in san diego. attendance has topped 120,000 people in recent years and friday marks 49 years since neil armstrong walked on the moon what's kite cuter than a baby
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farm animal? how about a baby farm animal joining in a yoga class. we kid you not, and our jane wells decided to check it out. >> reporter: i'm trying to hold a plank position but i have two baby goats on my back do the goats ever jump on this because that would be weird? >> it is weird because also kind of a nice massage. welcome to oregon, the place where the strangest fitness trend was born >> focus on your both. >> reporter: goat yoga. >> i never lived in a spot where i could have goats i've wanted them my whole life lainey morse had a career in marketing, got divorced and came down with an autoimmune disease and became very depressed and she bought some goats and they made her feel better. >> i would go out in the field every day and spend time with my goats, and i started calling it goat happy hour and inviting people over. >> reporter: up of those people was a yoga instructor. >> show's like you should really let me have a yoga class out here, and i said, okay, but the goats are going to be all over
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the humans, and she was like cool >> when i launched my classes in march i had over 2,300 people on a wait list to do goat yoga. >> the goats are surprisingly soft and friendly and don't smell, though they occasionally leave presents. >> i got poop. >> reporter: first year ref yews were $160,000, a figure lainey morse expects to double this year and turn her business profitable she's done corporate events for companies like nike and expanded to three locations in oregon and licensed the business in four other states. >> you're just blown away by how happy it makes everybody, so i -- that's when i knew i had a business. >> reporter: turns out combining downward dog with upright goats wasn't such a baaaad idea. >> yay >> reporter: you know, it's not the same when you come home and try to do it with your dog i don't think i want her on my
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dog and you're shedding all over me, princess leia. one of her biggest challenges was finding someone to insure her and cover the liability. took a long time hasn't been an issue the goats are fine maybe people doing yoga and contessa, her next goal a bed and breakfast, a goatel for the full goat immersion experience back for you. >> two things. i was just at a goat farm with my twins, and when we were around the goats, they were eating the children's hair is that a problem? >> reporter: not eating the hair but lainey morse does provide her own yoga mats if you provide a class because the goats do sometimes, anything to leaving presents on the mat, will try to eat them. >> okay. how much do the classes cost, jane >> reporter: they cost about $35, and it also depends on the weather. i mean, most of them are in oregon and has licenses out to other states and has inclement weather and that's why she's doing some of them now inside of a barn. >> speaking of downward dog, when i try it with my dog, my dog is like the goat winding in
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and out. >> reporter: let's see if i can do it. let's see what happens with princess leia. i'm hard wired here. can we do this together. >> come on, princess leia, let's see your downward dog. >> reporter: she's so cute >> i just love you, jane. >> i love you, too i love her >> thank you that's the show for today. i'm contessa brewer. thank you so much for joining us good luck with your plank pose or downward dog or happy child or happy baby. becky will be back next week and talk about a dangerous job meet the workers who really have to watch their step. each week keep it right here we're "on the money. have a great one we'll see you next weekend w muc does your house still smell stuffy? that's because your home is filled with soft surfaces that trap odors and release them back into the room. so, try febreze fabric refresher. febreze finds odors trapped in fabrics and cleans them away as it dries.
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use febreze every time you tidy up to keep your whole house smelling fresh air clean. fabric refresher even works for clothes you want to wear another day. make febreze part of your clean routine for whole home freshness.
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hi there we're live at the nasdaq marketsite and look who decided to stick around for the big o.a. hi, guy. guy is here and we're getting ready behind me. here's what's happening coming up on the show >> and i can't deny the fact that you like me >> and there's no denying the fact that investors love netflix, but there's something in the charts that might have you hitting the pause button going into earnings. we will explain. plus -- >> we think the likelihood of this thing being reversed and


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