4 Essential Things to Know About Financial Data Security
4 ESSENTIAL THINGS TO KNOW ABOUT FINANCIAL DATA SECURITY
There’s no denying we are living in the digital age. With increasingly sophisticated and insidious cyber threats, it is more important than ever to understand what you’re up against and to take steps to protect yourself. Here are four crucial things every retiree should know about financial data security and how working with an advisor can help safeguard your wealth.
Phishing Scams Are on the Rise
Phishing scams involve fraudsters posing as trusted sources, like banks or government agencies, to trick you into sharing sensitive information. Tip: Be wary of unsolicited messages asking for personal or financial details. Resist the urge to click the link or respond directly and always verify the sender before responding. Your advisor can help you identify these scams and provide tips to stay vigilant. In fact, if you suspect you’ve received a phishing message, ask your advisor if the message is legitimate.
Cyber Attacks Target Individuals Too
Hackers don’t just go after big companies; they often target individuals for their personal financial data. Tip: Regularly update your passwords and enable two-factor authentication on important accounts. Your advisor can help ensure your financial accounts are secured with the latest technology. And remember, sometimes hackers can find an open backdoor to your financial accounts if you have any of them linked to online sources like Facebook, Instagram or TikTok marketplaces. Be sure to enable two-factor authentication on all of your digital properties.
Identity Theft Can Derail Your Retirement Plans
Identity theft is more than an inconvenience—it can wreak havoc on your finances if your personal information is compromised. Tip: Monitor your credit reports for any suspicious activity and consider using credit freezes if necessary. Your advisor can guide you on credit monitoring services and proactive steps to protect your identity.
Protecting Your Retirement Accounts is Critical
Retirement accounts are prime targets for hackers, especially as cyber criminals become more sophisticated. Tip: Use secure, encrypted methods when accessing your accounts online and avoid sharing account details via email. Once again, your advisor can help you implement these security measures.
WHERE TO GO FROM HERE
To see how Cornerstone can help you with financial planning and retirement security, call our office today at (775)853-9033 or click here.
Based in Reno, NV, Cornerstone is for individuals and families looking to grow wealth, protect and preserve their life savings, and plan for the distribution of their estate in a tax-efficient manner through a tailored strategy. Schedule a time to discuss your financial goals with us.
©2024 Prime Capital Investment Advisors, LLC. The views and information contained herein are (1) for informational purposes only, (2) are not to be taken as a recommendation to buy or sell any investment, and (3) should not be construed or acted upon as individualized investment advice. The information contained herein was obtained from sources we believe to be reliable but is not guaranteed as to its accuracy or completeness. Investing involves risk. Investors should be prepared to bear loss, including total loss of principal. Diversification does not guarantee investment returns and does not eliminate the risk of loss. Past performance is no guarantee of comparable future results.