With nearly 4 billion people on social media worldwide, plus the risks of using online brokerage and bank accounts, the need for digital security has never been higher.
While technology is becoming more secure in response to threats, there are some habits you can adopt to safeguard your digital life.
1. Evaluate your current security practices.
Awareness is key when it comes to digital security. If you don’t stay informed and educated about the risks of cybercrime, you’ll never understand what to look for and how to protect yourself.
Stop and take a moment to evaluate your current security measures. Are you using unique passwords and changing them regularly? Do you use two-factor authorization (2FA) whenever possible? What about a password manager? Do your research and put these measures in place.
Best Practice:
Automate software updates.
Use the built-in privacy protection measures available to you on your mobile device.
Don’t leave your passwords out in the open.
Use two factor authentication wherever possible.
2. Think before you act.
No matter how many measures you’ve put in place, your own personal actions can still put you at risk. Before clicking a link or posting on social media, consider the information you may be accessing or sharing. Links could lead you to installing malware or into a data collection pipeline. A hacker can use minor details to target you or your loved ones.
Best Practice:
Do not open emails from people you don’t know.
Evaluate the email address of the sender, not just the name.
Never open unknown attachments from links.
Never use untrusted public Wi-Fi networks to conduct banking transactions.
Do not post about vacations on social media.
Final thought.
Digital security isn’t a one-off task. It requires you to stay informed and approach it with the same importance as your home security. Don’t go on auto-pilot. Monitor your online accounts and devices. Make sure to change your passwords periodically, especially if you get an alert about unusual account activity. By staying informed about best practices, you can protect your family from unnecessary risks and gain peace of mind.
Are you comfortable with your progress towards retirement? How about helping future generations meet their financial goals? If you have more than $2 million saved and need help from a wealth manager, the Peak Wealth Planning team can assist.
Peak Wealth Planning meets with clients in Champaign and Chicago, Illinois, as well as in Colorado near Denver, Winter Park, and Fraser. Peak Wealth Planning specializes in helping high-net worth individuals and families plan for the future.
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About the Author
Peter Newman is a Chartered Financial Advisor (CFA) and president of Peak Wealth Planning. He works with individuals nationwide that have accumulated wealth through company stock, ESOP shares, real estate, or running a business. Peter applies his unique background to help clients achieve their specific goals and enjoy peace of mind.
Peak Wealth Planning offers personalized concierge services to meet your wealth management needs, including financial planning, investment management, ESOP diversification, retirement income, insurance, and estate planning. As a fee-based financial advisor based in Chicago, Peak Wealth Planning serves a select group of clients in Illinois and across other states.