College – The Next Chapter: The Selection Process

There are so many passwords that people need to remember these days. You have your online passwords, your wi-fi passwords, the passwords you use at work, and more. It can be enough to drive you crazy. By the time you think of yet another original password, you have forgotten the last one. It can be a little easier, however, if you follow the following Dos and Don’ts. DON’T use a password that is easy to guess. That means no password 123 or admin 2018. Don’t use something anyone could figure out, like your birthday, dog’s name, or your address. DO choose a password that only you could figure out, such as the embarrassing moment you never told anyone about or the name of the fish you overfed as a child.

DON’T share your password. Unless it is an account that you and your spouse share, there is no reason to give your account information to someone else. Remind your kids of this too. Many kids give their passwords to friends, which can lead to trouble down the line.

DO make sure your password has a combination of uppercase letters, lowercase letters, numbers, and special characters. Each website will have their own rules about what is required. Make sure it is at least six characters long, too, because length can contribute to the security of the password. For example, sTE”vE218 is a lot harder to crack then STEVE218. The trickier you can be the better.

DO use underscores or spaces. If the system will allow you to, this is a great choice. Not many people who are trying to guess a password will consider spaces or underscores. Trying to decide where you inserted them is even harder.

DON’T use the same password for multiple accounts. If someone is trying to steal your information and they figure out one password, you don’t want them to have the keys to your kingdom. It is much smarter to have a different password for each site to protect your assets.

DON’T make your password so difficult that you cannot remember it. If you notice a spider outside the window as you set your new work password and you make your password SPIDER875, there is a good chance that you will not remember it the next day. While the password has to be hard for other people to guess, it should be easy for you to remember.

DO have a password to protect your passwords. If you have all of your passwords saved to your computer and you are the only one that uses your computer, you can add a second layer of protection. Choose the option to have a password on your laptop. Then you can allow Google to save your passwords for each site you visit, but no one can access them because your laptop itself is password protected.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

“I have no interest in learning about finances. My [husband/wife] takes care of that.”

I have heard this statement from many clients throughout my career, and I understand the sentiment that prompts this response. Human nature has shown that when groups of people come together, they divvy up tasks to different individuals based on their strengths or roles in the group. You see this in many different groups, including families. My wife cooks dinner, and I’m great at taking out the garbage. With my siblings, I’m great at being the peacemaker while my sister knows how to shine a light on different perspectives. These established roles help our family units function smoothly and effectively…

Until one of the pieces of our unit is no longer around.

I’ve seen it far too many times. Clients come in distraught and overwhelmed because they’ve lost a loved one who typically acted as the family’s Chief Financial Officer. Sometimes they don’t know if there is a will or where legal documents are saved. Perhaps they are aware of a family safety deposit box, but they’re not sure where it is or how to access it. They aren’t sure about account balances or how to read statements. They may not even have access to critical accounts because the deceased was the one who knew the passwords. Now they are dealing with grief and heartbreak, compounded by confusion as to what the next steps are for maintaining their family’s financial solvency.

This is why I insist that both parties in a marriage are involved in financial planning meetings and decisions. I also recommend, especially for my senior clients, that other family members or loved ones are aware of the basics of their financial plans. It makes things so much simpler if all important documents, including a list of passwords, are stored together. If security is a concern, there are plenty of third party vendors that will virtually store that information for you. In most cases, though, a virtual safekeeper of your important information isn’t ideal. What is really needed is someone who will help guide your loved ones during that difficult time. That’s when a financial advisor can be an invaluable asset. I have had many Trilogy clients express how relieved they are to know that their financial advisor will be around to guide and assist the loved ones after he or she has passed. At Trilogy Financial, we don’t consider it a job. We consider it an honor and a calling.

There is a saying that it takes a village to raise a child. The truth is, it takes a village to care for anyone. Please make sure that your village is prepared and has the proper tools to take care of you. If you’re not sure where to begin, you may want to meet with a financial advisor. Our Trilogy Advisors are not only trained to assist your family on how to prepare for the future, but will also be there to provide support and service during a difficult and overwhelming time.