Welcome. Cyberspace. Cybersecurity. We all have our information out there -- whether you think you do or not. And we all rely on cybersecurity to keep our information safe and protected. But, despite best efforts, data breaches and hacks occur daily. Be alert and keep tabs on your information. These days, you just don't know what is real and what is a scam so think twice before giving your information out.
You may have missed our recent series on retirement. For Retirement, Part 1 - Retirement Savings, click here. For Retirement, Part 2 - Social Security, click here. For Retirement, Part 3 - The Retirement Paycheck, click here.
If you want help protecting your assets and identity, we are here to help you stay On Course!
 Jennifer Lane, CFP
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- Make sure you know the source of emails. Look carefully at the email address because it may just be similar to one you know.
- Same with phone calls. Scammers are masters at creating fake caller IDs, making them look official or local. Do not give out any information; instead call the number on your credit card or financial statement to confirm. Or, don't answer the call at all. If it's important the caller will leave a message.
- Be suspicious of any official-looking email or phone call that asks for personal or financial information.
- Check your credit report (www.AnnualCreditReport.com) to make sure you do not have unauthorized accounts tied to you.
- Sign up at www.OptOutPrescreen.com to reduce inquiries into your credit and reduce the number of credit card offers you receive in the mail.
- FTC posts about scams here.
Practice good password management
- Create a strong mix of characters and change up passwords between websites.
- Use a password generator if you need help creating passwords.
- Store your passwords securely. Don't keep them in a notebook or on Post-Its!
- Do not save your website passwords on your devices and computers. Create passwords for your computers, tablets, and phones, and lock them when you're done.
- Research these online storage alternatives: SecureSafe, LastPass, or 1Password.
Watch that mouse
- Be careful what you click on.
- If the email seems suspicious -- do not open it. And NEVER open attachments or links in an email until you have confirmed the sender.
- If you suspect spam, hover (do not click) the mouse over the sender's email. For touchscreens, press (do not tap) and hold the link. The full email address will pop up. This should reveal the actual URL. As an example, the sender may say @compassplanning.com, but the actual address that pops up may be something like [email protected]. Once you know the URL, you can determine whether to open or not.
Sharing
- Be careful what you share.
- Post judiciously on social media, e.g., when you're on vacation.
- Send personal information securely! Encrypt or password protect files you are emailing that contain sensitive information.
Best advice: Review all your monthly financial statements when you receive them. Look for suspicious activity. When in doubt, don't give out your information and don't click.
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Q&A
Q. A few years ago a person in Rhode Island used my name to open a credit card account. He didn't charge much and always paid the bill on time. I reported it when I discovered it, and the information was removed from my account. Now his address is back on my report. Should I be concerned.
-- Stephen, Boston
A: Stephen, this goes to show that not everyone steals identities to do bad things. This is probably someone who could not get credit with his information. Still, it's not a good thing to have on your report. You need to dispute the information on the credit reports and have it removed.
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Jennifer in the Media
Below are links to Jennifer's frequent contributions to financial planning articles.
- The New York Times featured Jennifer in an article titled, "Balanced Funds Don't Inspire Fear or Greed. That's Why They Are So Useful." Click here to read the article.
- With a contrarian view, Jennifer contributed to an article, "People are enraged by the idea that you should have twice your salary saved by the time you're 35!" published recently by Business Insider. Click here to read the article.
- Moving in together? Click here for the article from Business Insider, "Five questions you and your partner should answer before taking the biggest step in your relationship."
- Insider asked Jennifer to contribute to an article on old fashioned ways to manage your money, "Six money-saving tips your grandma used that are way more effective than any budgeting app." Click here for the article.
- Jennifer contributed to an article on Business Insider. Click here to read "This is the best way to do your taxes online - according to experts."
- CNN Money's Money Moves featured Jennifer in an article on how to strike the right balance between retiring early and saving enough. Click here to read the article.
- Jennifer contributed to a CNN Money article "When is the Right Time to See a Financial Advisor?" Click here to read the article.
- Jennifer contributed to The Wall Street Journal article "The Biggest Money Mistakes We Make -- Decade by Decade." Click here to read the article.
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Compass Planning News
- Jennifer and Sarah were both named 2019 Boston Five Star Wealth Managers.
- AdvisoryHQ named Compass Planning as one of the ten best Boston financial advisors.
- Jennifer recently talked about undoing retirement. Click here to watch the segment on her blog.
- Jennifer appears on NECN every other Monday morning at 9:30 am.
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Compass Planning Associates helps families, individuals, and small-business clients achieve financial security, knowledge, and control over their money. Our fee-only, client-centered approach provides education and guidance for achieving financial goals and dreams.
All contents of this newsletter Copyright 2019 Compass Planning |
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Shred your investment and bank statements when you toss them -- they contain lots of personal information (name, address, account number, balance). Better yet, use online statements and transaction confirmations.
Get more tips in
Jennifer's book
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