Cortburg Speaks Retirement

7 Tips for to Protect Your Financial Data For Retirement

June 19, 2024 • Miguel Gonzalez, MBA, AIF®, CPFA®, CRC® • Season 2024 • Episode 193

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Join Miguel Gonzalez from Cortburg Retirement Advisors this week for strategies to keep your hard-earned savings protected and stress-free for retirement. 

Cortburg Speaks Retirement - episode #193 

About Cortburg Retirement Advisors, Inc. 

Cortburg Retirement Advisors is a full-service, boutique financial planning firm - helping guide clients through turbulent and calm economies. Their goal is to help grow, protect, and preserve their assets from their first job through retirement. Cortburg’s “all in one house” capabilities mean that their experienced team can help with all financial needs - wealth management, estate and tax planning, group retirement, employee benefits, insurance, and retirement planning.    

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Welcome to Cortburg Speaks Retirement Podcast
with Miguel Gonzalez, MBA, AIF®, CPFA®, CRC®

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Welcome to Cortburg Speaks Retirement

An audio podcast about investing in the stock market, financial planning, money management and retirement planning.  Each Wednesday, we help investors at all stages of life learn how to potentially grow and preserve their money from first job through retirement.

Now here is your host, Miguel Gonzalez.

 HOST

Good morning and welcome to the CORTBURG SPEAKS RETIREMENT audio podcast.   

This week we're exploring crucial steps to safeguard your financial data as you gear up for retirement.

 

While this has always been an important topic, it grows even more critical as you start planning for retirement. 

From preserving your retirement savings to maintaining financial independence to avoiding stress, you want to keep all the assets you've accumulated by hard work. Here are a few steps you may take to protect your financial information now and in retirement.

1.  Shred Sensitive Documents

Although most financial fraud is committed over the internet these days, some scammers still rely on old-fashioned approaches—and there's no need to make it easier for them! Always shred financial statements, old tax returns, and any other documents containing personal or financial information before you dispose of them.

2.  Secure Your Mail

On a similar note, you should have a way to secure regular mail, especially if it's delivered to an unlocked mailbox. Be sure to collect your mail promptly to prevent theft of sensitive documents or financial statements. If you travel frequently and cannot get your mail the day it's delivered, consider investing in a locking mailbox with a slot.

3.  Secure Your Personal Identification

Keep your Social Security card, passport, and other sensitive identification documents in a secure place, such as a locked safe. Don't carry these cards or documents in your wallet or leave them in your car unless absolutely necessary, such as when traveling.

4.  Use Strong Passwords and Two-Factor Authentication

Create complex and different passwords for each financial account. Consider using a password manager to store and manage your passwords securely. Whenever possible, enable two-factor authentication for your online financial accounts. This adds an extra layer of security by requiring you to type in a code texted to your phone or sent to your email.

5.  Beware of Phishing Scams

Always be cautious about unsolicited emails, texts, or phone calls requesting personal or financial information. One of a scammer's most effective tools is a false sense of urgency. Financial agencies understand that you may need to verify that a request is legitimate. Scammers pressure you to make a quick decision by telling you your accounts will be locked, or your credit cards will be canceled if you don't immediately comply with their requests.

6.  Secure Your Devices

Protect your computer, smartphone, and other devices with strong, up-to-date security software. Encrypt your data and use screen locks with PINs or biometrics. Always avoid conducting sensitive financial transactions on public wireless networks. If you absolutely must use public Wi-Fi, use a VPN.

7.  Consider a Credit Freeze

If you're not actively seeking new credit, consider placing a credit freeze on your credit reports. This restricts access to your credit information, making it far more difficult for identity thieves to open new accounts in your name.

Taking these precautions can significantly reduce the risk of falling victim to identity theft as you approach retirement. Consider consulting with a financial professional to manage your accounts. Have them set up in a way that manages the risk of fraud and provides a secure transition into retirement.

Make sure to visit our website, www.CortburgRetirement.com. Our site is filled with educational videos, eBooks, publications, and financial calculators designed to help you learn more about your finances.  As you search our site, send us a note regarding any questions you may have about any particular investment concepts or products. We will get back to you quickly with a thoughtful answer.

This is Miguel Gonzalez, Certified Retirement Counselor (CRC) and Managing Partner, with Cortburg Retirement Advisors signing off for this week’s educational podcast.  

 DISCLOSURES  

Opinions expressed are subject to change without notice and are not intended as investment advice or a solicitation for the purchase or sale of any security. Please consult your financial professional before making any investment decision. 

All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

CRC conferred by The International Foundation for Retirement Education.

Securities offered through LPL Financial. Member FINRA/SIPC. Investment advice offered through Private Advisor Group, LLC, a registered investment advisor.  

Private Advisor Group, LLC and Cortburg Retirement Advisors, Inc. are separate entities from LPL Financial.

Investing involves risk including possible loss of principal.

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Miguel Gonzalez, MBA, AIF®, CPFA®, PPC®, CRC®

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