hi, everyone, welcome to on the money. i'm becky quick. kids and video games what you can do about it. >> he went from hand model to billions in real estate sales. now he's coming up with something new. >> kids, college and lessons in financial aid. what's different this year and why you should start now. >> remembering a loved one in a very unusual way it's a gem of an idea. don't miss this one. on the money starts right now.

>> this is on the money. your money, your life, your future. >> hackers can lock your computer files unless you pay up but now there's a new twist. they're breaking into company systems sending text, e-mails, all as blackmail that's our cover story. >> before you send that nasty text about your co-worker or dish the dirt about your boss, listen to this. >> employees are not fully aware and in some cases the organization is not fully aware of how harmful and impactful this can be. >> office gossip is now a big target for hackers he's america's chief security officers for palo alto networks. >> if these are powerful individuals, ceos, executives and their personal brands are

what the company is looking to protect. >> criminals are hunting for compromising info that they can use for blackmail hacking into company e-mails, chat logs and texts. >> it's no longer just a random act. it's no longer fishing and hoping that you catch something big. it's very targeted now. >> and it's the latest twist in rans ransomware where criminals lockup your files until you pay. >> what kind of tidbits are they looking for? >> anything that might be embarrassing affairs, health issues that could be embarrassing. hr issues. sexual harassment. >> take a look at this ransom note sent out to some firms targeted in germany. et says they'll expose private data including pictures and videos for the world to see. with so much on the line, some

organizations just pay up. >> how much is at stake? >> billions. >> ransomware is a multibillion dollar problem. >> it reached record levels last year but it's still a major risk with criminals now focused on this very targeted attack. >> what should you be telling employees? >> not getting infected. clicking on links they shouldn't be clicking on and going to places they shouldn't be going if you're going to write that e-mail and talk about the gossip in your office don't put it into anything that might be written. >> the big question is do you pay the hackers to keep secrets? it's a catch 22. you never know if they'll release the info or hit you up for more money later the pros advice is to beef up security before you ever need to make that decision. >> joining us right now is ed lee from the new york times. that's a little creepy how prevalent is it though

>> it's on the rise but most companies aren't experiencing this they'll go after big brand name companies. ones where embarrassing e-mails and chat logs can cause real problems there's only so many of those out there. but the big take away is assume it's going to happen you as the employee or running the company. if we ever get hacked and someone tries to ransom our stuff, what's our liability here if office worker, if you're going to gossip, do it at the water cooler any time you create a digital trail, it's going to be discovered companies get sued, slack messages, e-mails, they're all discoverable they belong to the company and not to you. >> new york times had a story about gaming companies collecting information on kids 13 years old and younger. >> that's against the law. there's a criminal's privacy law that prohibits that from happening. the problem is this, we don't

know where it lies in other words, if you're not supposed to collect this data and these apps are being downloaded on google and apple, they say look, we don't look at every single app on there. we set the standards and the guidelines it's up to the app developer to do it. we don't actually do the tracking it's our third party that did the tracking we saw advertising. that's how we get paid there's a whole system in place that everyone keeps asking about and there's no case law yet and there's no legislation it's not entirely clear who is ultimately responsible. >> what's a parent supposed to think? should you assume that everyone is tracking your kids information? is there anyway to find out. >> like with office gossip you should assume it's going to happen that's going to be -- that's a

hard world to live in. kids are going to be playing games and they're mostly harmless games but right now it's the wild west there's very few cases around it and it's hard as a parent and a kid to navigate. >> as creepy as it sounds, it's not the worst case scenario. should i be worried about them being tracked further too. >> now that's a great point. i have a 14-year-old daughter. she plays games on her phone i'm not looking at every single thing she is doing but i do make clear you shouldn't be communicating with anybody online you don't know. if it's not a friend or classmate or teacher or us don't communicate with them. that's the baseline for how you want to protect your kids. you're not going to be able to look and know every single piece of data floated out there. but in the meantime make sure that you know who your kid is talking to

shouldn't be strangers. >> thank you now here's a look at what's making news as we head into a new week on the money. the unemployment rate hit 3.7% last month that's the lowest since december of 1969. the economy created 135,000 jobs it was well below forecast perhaps with hurricane florence impact on the southeast. numbers were revised higher and average hourly pay grew by 2.8% last year. after setting fresh records earlier in the week, a big sell off on thursday for the dow. the move in part because of climbing interest rates on the ten year frtreasury the nasdaq fell as well. stocks fell once again on friday and amazon is raising it's minimum wage for all u.s. workers to $15 an hour that move will impact 250,000

employees but they're also eliminating monthly bonuses and stock options for those workers. the federal minimum wage is $7.25 an hour. >> he sold some of new york economy's most exclusive apartments now he's telling his secrets on how to sell more of anything. >> and sending your kids to college next year? how to keep extra cash in your pocket right now take a look at how the stock market ended the week.

>> how does a self-described insecure kid come to new york and become a real estate mogul he's been making deals on bravo's million dollar business

new york thank you for being here today. >> thanks for having me. >> so answer the question. how do you get this, especially in 2008 when you came to new york you say you were insecure, but what happened. >> honestly my back was up against a wall and i had run out of money and i do not wish being broke in new york city on anybody. it was a tough spot to be in it was either go home, which was, to me, failure. or figure out how to stay in new york city, the concrete jungle where dreams are made of and figure i had out my friend said get into real estate make your own hours. work with people rent a couple of apartments a month and pay your bills and i said i don't want to do that, but fine so i got my license and started on 2008. lehman brothers filed for bankruptcy about an hour later and my friend quit that day and

said i lied this is the worst business ever and i had nowhere else to go that was a really bad time for people that had money and for me with no money i was able to pick up all the pieces and figure out how to sell from the ground up. >> i think about people's fear of rejection was it that? your fear of having nothing else. >> i thought i wanted to be an actor. that was my first love and passion. you try acting in new york city as a job for two years you get rejected to your face. you get rejected because of your face when i got into real estate, if people didn't want an apartment it wasn't because my face. i was cool with the rejection. it wasn't fun but at least it wasn't deeply personal like it is when you're trying to be an actor. i was all about the volume and the business and people on the street. >> one of my favorite parts in the book is when you give people advice, you say practice your

craft. a sales person's body and voice are his tools. if you're having a hard time of opening up, you're telling people weird and crazy things. explain. >> i believe that this is my office i'm not a banker people aren't coming into my office to see what i have to sell they're looking at me in the eye. shaking my hand. my first impression is my last impression if i'm not smart about it i need to use my voice my eyesight. the way i talk i tell people to take an improv class. it's incredibly important to be uncomfortable so when you're on the street you're meeting someone, a potential client you can think outside of the box and your first answer to every question is always yes and we will figure it out. >> and put on really thick skin and don't worry if you think you're going to sound like a idiot because there's way worse things that can happen. >> to the bottom of it, the

biggest mistake that most people make when trying to sell something whether it's real estate or hot tub or tires is that they actually try to sell something. a watched pot never boils. focus on that relationship and immediate connection and make a friend in the first ten seconds of every interaction and it goes a long, long way. >> let's talk about real estate sales versus all other kinds of sales. think back, what's difference and what's universal when it comes to sales >> it's all universal. which is strange i did sell it on bravo and i would work with sales people that don't sell real estate and everything that i know about selling high end real estate is the same as working with someone selling body waxing to people that are extra harry it's about the first interaction and the relationship the numbers are different. someone spending $10 million on

an apartment on park avenue thinks about math differently than anyone spending $100 a month but the way you convince that person to be what's best for them is the same >> how is it authentic and smooth at the same time. >> the worst sales people are too slick. those are the kind of people that try to push, push, push for the sale i'm working with someone in front of me. i'm adapting to their needs. i'm not overly opinionated i'm not overly personal. i'm going to work with you and figure out what's best for you and i'm not going to push anything on you. i'm going to assure you that what you want and what i'm showing you is the best option for you. versus this is what you should buy and this is what you should buy. it's not convincing and pushing. it's assuring. >> i want to thank you for your time it's great to see you. >> thank you for having me. >> up next, we are on the money.

you could be saving more on college costs with a little help from the federal government, but only if you act fast. >> later, dealing with loss in a way you probably haven't heard about before a new way to remember your loved ones ♪

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>> it's the first step in getting access to $150 billion in scholarships, kbrants and loans. sharon for those that aren't in the know, what is a fafsa form. >> it's important to do it early and know what it is the free application for federal student aid is the key form that you need to fill out to get work study, grants, scholarships, financial aid from the government but it's also a key form that many colleges and universities as well as states use to determine financial aid so make sure that you fill it out and do it as early as possible starting october 1st, you can submit this application for the next school year, 2019, 2020 and the reason why it's important to do it early is because many entities will decide on a -- based on a first come first

serve basis and make sure that you don't miss out on that. >> what happens if you don't fill out this form or you fill out the form and then find out that you don't qualify what are families left with? >> let's take a look at how families are actually paying for college or how feels are doing it still the majority of scholarship costs are paid for my scholarships and grants but there's also people with savings as well as the students income and savings. 19% is student borrowing and then parents are also borrowing about 8% keep in mind grants are not always completely free scholarship is usually free money. grants may have some strings attached. >> i'm kind of surprised at the student loan numbers and the parent loan numbers when you think about what a big number in all it is. but is that number shrinking at all? >> the parents are taking on less debt. they may still be borrowing at the same rate. they're saying i'm not going to

borrow a ton of money and sabotage my financial future for this which is really smart. when you ask parents how much are you willing to spend on your child's education? and these are parents whose kids aren't in school yet, this is what they're anticipating. only 14% said they would take out $75,000 or more. >> is that because parents are saving more or less willing to take out the loans. >> they need to see a couple of more years to see what the trend really is but it appears parents are asking important questions and giving the right answers where else can you go to school that's not cost this much and you can still get a great education. how can we cut back on room and board. maybe if you live at home or roommates or do something different to cut down those costs. they're being more creative and being more fiscally responsible which is a great sign. >> that's good news. >> thank you very much. >> up next on the money,

treasuring your loved ones a unique way of celebrating a life when i say unique, i mean it you have to see this

when you lose someone, whether you're a family member or close friend or even a pet it can be a very emotional process. it's a company offering a new way to help you memorialize. thank you for being here today.

>> absolutely. >> i have to admit when i first heard about the idea of turning your loved ones remains into jewelry and diamonds i was a little creeped out that may be because the entire death industry was a difficult one. so i was just doing regular diamonds. >> it's a total up and coming and pretty big segment right now and then i had one of my business mentors and one of my best friends get diagnosed with pancreatic cancer and pass away. when you lose somebody that's one of the one or two most remarkable special people in your life, you want something more than an urn full of ashes and i went looking and there was literally nothing. it was pretty crazy, over dinner with a scientist we were like if

we can get the carbon out you can grow real diamond and carry that person with you. >> that's an amazing story how long does it take and how much does it cost? >> it takes about 8 to 10 months to do. really involved. 7 stages we work on everyone by themselves so super, super intricate process. it takes only about half a cup of ashes to do which is a small amount which is nice for families that can still do something spreading the ashes or celebratory and then it doesn't cost as much as you think. it ranges between 2,400 and goes up to about 16,000 you can see the average around 7,000 which is actually the average cost of a funeral. >> where have you kind of gotten the word out so many people feel uncomfortable talking about that they don't want to buy a funeral plat or make plans or tell people what to do afterwards

how do you reach people? >> this is a long time and so we over deliver we send pictures and videos and updates and post about their loved one on social media and really celebrate them and it creates a ton of word of mouth and very emotional videos and help somebody see. >> is that your friend >> yes. >> that's the most emotional story for you but is there been another client >> i have so many i can't even tell you but one of my customers, his wife karen, she literally fought breast cancer f for 15 years and she got very involved in susan g. komen she walked in 7 walks and near the end of her life she had been fighting for her care all along and was told we're not going to

make it. she kept fighting for all the other women. she would cheer these other women on fighting for their cure so in her honor this year, he's walking in seven 60 mile walks wearing her pink diamond around his neck so our team is joining him and donating 10% of all proceeds in october to breast cancer. >> thank you it's an amazing story and we appreciate your time. >> absolutely. thank you so much. >> that's the show for today folks. i'm becky quick. thank you so much for joining us next week, a new way to pick up some money drop off a package on your way home nothing shady about this we'll explain. keep it right here we're on the money have a great one and we'll see you next weekend

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♪ hey there live at the nasdaq market site in times square we have a big show coming up these guys behind me getting reviewed while they are doing that here is what's coming up ♪ you're as cold as ice. >> announcer: the hottest stock of the year plunged into a bear market but if you own the name mike has a way to protect yourself. plus - >> home crap home.