joo hi, everyone i'm contessa brewer in for becky quick. the restaurant that takes it literally. it's not exactly a free lunch on the menu. >> it's the future. >> time to reconsider a roth new tax laws may mean it's time to change the way you think about retirement giving shelter if you're a rolling stones fan, you'll want to check out this apartment. maybe you can always get what you want. and a closet full of clothes but nothing to wear? a new high-tech way to help you save time, money, and help you look good. "on the money" starts right now.

we begin with your wallet and what's in it the cash you carry around may be less and less useful because a growing number of restaurants and other places are saying, no, thanks, to your dollar bills they want you to may another way and it's this week's cover story. if you're hungry for lunch at this restaurant, you'd better bring a debit or credit card when mike an kaplan opened two forks a year ago, he was accepting cash the first two weeks. >> we were seeing it was slowing down people were generally paying with credit cards anyway. >> he made his restaurant cashless no cash allowed. >> i don't really carry cash, so i think it's great because it makes everything go a lot faster. >> i think it's great that it's

cashless. >> what if someone only has dollars, real money. >> maybe one person goes for the cash instinct. and they're like, oh, you're cashless you know what? i don't even like cash anymore. >> cap lkaplan comadmits a few n >> if they have the exact amount, we won't turn them away. >> 40% of americans prefer paying with a credit card, 35% with a debit card, and just 11% favor cash also going cashless is dose toros, a chain of 14 restaurants. >> i rarely ever have cash so i'm going to use my debit card or credit card for the points. >> but some customers still prefer to use dollars. >> a couple of weeks ago when i came in and tried to pay with cash they said, we're cashless.

at first i was a little annoyed. >> it's convenient for me who wants to move quickly but i suppose it alienates a certain group of people. >> the cashless lend is growing. just the week the first amazon go store opened in seattle, a convenience store with no cashiers, no lines, you pick up the items and the card stored on your phone is automatically charged as you walk out the door. >> popped in, popped out maybe the whole process took maybe 3 1/2 minutes. >> will dollar bills vanish in a cashless society as we saw, his restaurants are now cashless ed lee is managing editor. i appreciate you both joining us leo, what is behind the move toward cashless restaurants? >> simplicity. hospitality, the goal is really simple delight your guests every day. it's hard to do that it's about great food, great service, and a clean

environment. those things require time and focus and managing time is eaten up by handling cash. going cashless allows us to focus and do that much more of a good job. >> what about the fees every transaction that goes through the card, isn't there a fee to the restaurant. >> >> yes. for every purchase, there's a 3% cost, which is not great but there's the ee kwivs lens with cash. >> what do you do if somebody comes into the restaurant and don't have a card or apple pay if my grandmother comes in, she's still carrying around a wallet of cash. >> we hopefully ask do you have a card we hope they see the sign. if not, we say just remember it next time.

>> they're more redabadily available for cashless payments. it's a big part of the trend amongst that kind of group they don't mind letting people know where they are, what they're doing, using their phones for everything. >> are there any kind of legal obstacles for business who want to go cashless >> right now there is no restriction. it does cut out a section of the society where they don't have bank accounts or don't have credit cards or have a hard time getting a debit card. >> i will admit i use a card for most things. i like the ease of it and there's a record kept of it and i can go back to the credit card company and dispute a charge if i need to. but there's something about a cashless society that creeps me out a little bit now there's going to be a record of every dollar you spent and someone somewhere whether it's a foreign hacker or big brother could be keeping track of it. >> cash right now, that's still

the abiding value, which it's phenomenal especially in america, we don't want you to know where we are all the time amongst millennials, they don't care as much. >> let me ask you about the next wave that's mobile payments, whether it's venmo or apple pay or paypal are you accepting those types of payments in the restaurants? >> we're hard at work on that. it's going integrate with a lot of those nfc we're painting a nos tick as long as it's digital, whether it's apple pay or google or crypto pay. >> do you think apple pay and venmo, do you think they're going to be as ubiquitous now as credit cards again, it comes back to convenience and ease of use. if it offers that, it oohs going to be more widely adopted. apple pay is the easiest in the sense that it's like a wallet. you're loading credit cards onto

it google pay is a little trickier to figure out and they're still working out to make it easier for cards to adopt into it. >> thanks so much for coming in. leo, good luck. >> thanks, contessa. now here's look at what's making new as we head into a new week "on the money." you may be tired of hearing this, but most people aren't stock hit new highs. the douceting a fresh record in early trading on friday as did the s&p 500. strong earnings and lower corporate taxes behind the surge. stocks closed higher on thursday america's economy grew at a strong rate but not as quickly as expected. the gross domestic product grew by 16% is toys "r" us says it will cloe 2,f 00 of is stores in the

united states as it tries to emerge from bankruptcy it has 64,000 employees. toys "r" us faces tough competition from amazon and brick and mortar stores such as walmart and target. up next, we're "on the money. blackmail money is sent demanding the ransom but the con artist doesn't want dollars. we have the fbi's warning about this new scam. and later, how much time do you waste trying to figure out what to wear in the morning. a new company aims to give you that time back and now a look at how the stockmarket ended the week

imagine getting a letter to your home threatening to reveal

a deep dark secret unless you pay up it's a growing scheme with more and more letters being sent. andrea day reports on the new way con artists are trying to get your money and what you can do about it. i know that you have been cheating on your wife. >> chilling words in a letter sent to dave's home, and there was more it is just your bad luck that i stumbled across your misadventures while working a job. if you want me to destroy the evidence and leave you alone forever, then send 2,000 in bitcoin, a blackmail letter claiming to have secret information about his infidelity and demanding payment in bitc n bitcoin. >> i had to think for a second because i was in the bit of a fluster. >> the father of three, and faithful >> he reached out to local cops and printed on his blog. the relatively unknown blog

lighting up with traffic and months later when another wave of letters went out. >> 500 per day. >> he said he was flooded with e-mails, men from all over the u.s. who seemed to have one thing in common. >> he's targeted affluent neighborhoods and lawyers. they're concerned about losing their status if he sends out information. >> and for some, smn have started. >> the wives open the letter and confronted them when they got home. >> another. >> he said i live in a golf course neighborhood. if the attacker sent something out to everyone in my neighborhood, even though i've about been faithful, my reputation would be wrecked. >> should you send money >> no, absolutely not. they're hoping that they might get lucky with someone who actually has maybe been unfaithful, there's some infidelity there if they hit that target, that's a person who's probably willing to pay. >> the letter he says, just one

criminal extortion product using crypto-curren crypto-currency. >> the idea is it hides behind this vail of secrecy because there's no personal association, law enforcement won't be able to track it. they'll go through the process of explaining how do you go about purchasing bitcoin. >> crypto kur senn i makes it difficult for law enforcement to track but it's not impossible. local police departments across the country have been warning about this scam. if you receive the letter, the best advice is don't pay and let the police and the fbi know. for "on the money," i'm andrea day. >> the latest wave of letters was sent out in early january and demanded as much as $8,000 in bitcoin the good news, is so far no one who has not paid the ransom has not had any potential secrets get out. up next, we're "on the money. want to pay less in taxes and have more for retirement, how

changes in the tax code are giving some savers a golden opportunity. and later, a look inside rock & roll. a look inside a new york city apartment of keith richards. harvoni is a revolutionary treatment for the most common type of chronic hepatitis c. it's been prescribed to more than a quarter million people. and is proven to cure up to 99% of patients who've have had no prior treatment with 12 weeks. certain patients can be cured with just 8 weeks of harvoni. before starting harvoni, your doctor will test to see if you've ever had hepatitis b, which may flare up and cause serious liver problems during and after harvoni treatment. tell your doctor if you've ever had hepatitis b, a liver transplant, other liver or kidney problems, hiv or any other medical conditions and about all the medicines you take including herbal supplements. taking amiodarone with harvoni can cause a serious slowing of your heart rate.

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roth i.r.a.s have been around for 20 years but with changes to the tax codes, you may want to give these retirement savings accounts a fresh look and it could save you

big money in the long run. here to explain, sharon epperson sharon, good to see you today. >> good to be here. >> talk to me about what's a roth and ho is it different from a traditional i.r.a. >> the most important thing is with the roth i.r.a., you're contributing after taxes with the 401(k), it's before taxes. when you put your money into a roth i.r.a., whatever contribution you put in, you can take out to do with what you like that's important to remember also as we're looking at a new tax year where many people may be in a lower tax bracket. that after tax money might not feel so bad if you're in a lower tax bracket. >> what makes the roth so attractive >> a lot of people want to be able to have the tax money but also right now there's things they're think about what will they do with this money? give it away give it to their kids?

use the money for other purposes other than retirement? they can that can use it for college and an emergency fund and they can use up to $10,000 in a down payment for house. >> are there people who should tack advantage of a rocket and others where it's not the best choice. >> there are definitely questions you need to ask. i certainly think it's a great tool for almost anyone but you have to look at what the taxes are going to be in in the future keep in mind this is tax-free money so no matter what your tax bracket is, you're going to be able to have income in retirement that's not taxable. if you need that money in five years, probably not best necessarily to put it into a rock roth i.r.a.? >> are there other ways to invest >> you can convert traditional i.r.a. money to a roth or an old 401(k) to a roth you're going to pay taxes because you haven't yet, so when you do that conversion, that's

another reason why if you're in a lower tax bracket in 2018 it may be something you want to consider doing. >> thank you. if you've been a good saver and have extra cash to spend, there's a unique property up for sale that might give you some rock and roll satisfaction our robert frank got a tour of keith richards' new york apartment. >> reporter: this penthouse duplex in lower manhattan is home of a rock & roll legend. >> we're standing in the home of keith richards and his wife patty henson which they've owned since 2014. >> it's 2,700 square feet with panoramic views of management's greenwich village. >> you have three different terraces the take in both north, south, east, and was. >> this wall slides open to reveal his secret lounge area. steps away is a master suite

with a walk-in closet for him, another for her, and a modern master bath with a steam shower. headup stairs to find the family's music legend room sandwiched between two more bedrooms including what else, a tribute to rock and roll. >> not only would you be owning premier real estate, but you'd be owning a part of rock and rolle history. >> the price tag just under $11 million >> this is the second time that apartment has first been listed showing you can't always get what you want. sorry. >> is there a sort of a premium that gets put on a celebrity's apartment? if you're moving into keith richards' apartment, are you going to pay extra >> there's a premium, but studies show they don't actually get a premium price when it's sold so oftentimes celebrities say

they notice whenever they put their name on anything, it goes up in value, not so much for real estate. although, if they're a gat early buyer of something, they get a premium. so far with keith's place, there's not a rolling stone premium. >> i like that thank you for the tour. >> thanks. up next, more "on the money" for this week. if you have a closet full of clothes but nothing to wear, help is on the way the start that does the thinking for you early in the morning

traders on the panel today --

here are the stories coming up that could affect your money this week. on tuesday s&p case-shiller index comes out for november it measures home prices in 20 cities we'll also hear from president trump on his state of union address. the fed chair will make an announcement after the fed meeting. on thursday we'll see how many cars sold in january on friday, the jobs report for the month will be released and how many more days of winter punxsutawney phil will tell us. losing two years of your life, that's the estimate. a new startup called finery is

hoping to solve the problem. joining us is the co-founder whitney casey. you know the hassle and headache that goes into putting your wardrobe together and putting your best foot forward how did you come to finery as a solution tell me about it. >> did you ever see "clueless? >> yeah. >> that'show i watched alicia silverstone's closet come up. >> tell me what's the basic process? >> after you sign up with the e-mail that you shop with, we pull ought of that into a closet for you and then immediately we sort it by color and category and then you can start making outfits and plans or packing -- >> you're doing this with actress brooklyn decker. it's not the two of you sitting going through america's closets, right? >> that would be 450,000 users and possible yeah, that would be really fun

i would love to see what's in everybody's closets, although everybody's closets are incredibly private we've noticed it's so personal if you have somebody step into an actual legitimate closet, you hear judgment, i bought that here for sure. >> this is algorithms looking at your past purchases and putting together outfits that way? >> yes. >> you go in and give your e-mail that you've used to buy stuff in the past. you guys go and collate all these past clothes purchases and how do you off up wardrobe ideas to your members? >> that's the thing. think if you have that many members and data points. all of those data points coming together to like, what is in fashion. because if you can go by ten years in someone's purchase history. my whole theory has been our data should work for us. like all of these companies come and take your data in this world, you data should be working hard for you. you went out and bought all the

stuff. >> how do you make money >> right now we don't, which is typical startup, hoping that our users sort of tell us that, okay, here's what we want. our users are incredibly vocal they're amazing women, working women who have no time, are moms and think about having your phone with you that you now have your closet. you know the time you're standing in your closet and the last thing you need to be doing when rubbing to the doner or having an interview for work is thinking about what to wear. >> what about privacy? someone's giving you incredibly private information. e-mail address. >> browser history. >> yeah. >> we take it very seriously because it is trust and this woman is saying to us, look, i trust you so much and this is so important to me. so how are you going to give me something back for what i'm giving you and that's why one of our most famous things that -- most of our users say, return reminders. that is really where we built the trust because we remind women when things need to be

returned also because one of the things that retailers do, they're constantly changing return dates, 30 days, 15 days we send you a quick little note that says, hey, contessa, this item, this red dress needs to be returned i can't today, but i already own it and then that's an issue. >> thank you for joining us. that's the show for today. i'm contessa brewer. ing theirs so much for joining us becky will be back next week with a fitness trainer who hosted "the biggest loser" and how he nearly lost his own life and the big changes he made. keep it right here each week we're "on the money. have a great one we'll see you next weekend these birds once affected by oil

are heading back home. thanks to dawn, rescue workers only trust dawn, because it's tough on grease yet gentle. i am home, i am home, i am home

hey, there, we're live at the nasdaq market they're getting ready behind me. while they're doing that, here's what's coming up on the show. >> texting moment is next week with a number of huge earnings we'll give you the one name option traders see that's a must own. plus biotech is breaking up. and there's something in the charts that suggest it could go even higher next week. we'll break it down. and boeing boeing shares ae