The Do’s and Don’ts to Choosing a Great Password

By
Windus Fernandez Brinkkord, AIF®, CEPA
January 8, 2019
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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.

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By
Jeff Motske, CFP®
August 13, 2018

Money can be a complex thing. No, I’m not necessarily talking about the stock market or the emergence of cryptocurrencies. I’m talking about how every financial decision you make affects all the others. It sounds like a simple enough theory, but when it comes time to putting it into action, it’s often difficult to see through.

I see many clients who come in clearly stating their goals: they want to retire, they want to start their own business or pay for the children’s college education. They want to be financially independent. Yet, when we look at what they’re doing with their finances, we find that their actions may be working against their goals. That daily Starbucks habit has a different cost when you calculate how much you’ve spent in a given month that could have been used towards other expenses. For those who are constantly leasing new vehicles, those payments that never end take on a different perspective when you consider how they could have been applied to a down payment for a house.

We see it now with millennials struggling under immense student loan debt. While much of their income is funneled towards basic needs and paying down debt, little is left for necessary things like amassing an emergency fund and saving for retirement, let alone other milestones like purchasing a home. Putting off funding these other items can have a serious detrimental effect down the road. Furthermore, while millennials have grown to be the largest generations purchasing homes1, this major decision has prompted additional complications like borrowing from retirement to afford a down payment or underestimating ongoing maintenance cost. In fact, based on a survey by Bank of the West, 68 percent of millennial homeowners now have regrets about buying their home2 because every decision made truly impacted everything else.

Things can get especially tricky when decisions are being made by more than one person. Couples can have household goals, but if they’re not united in working towards them, these goals can often get sidelined. Perhaps they’re trying to save for a house, but one of them isn’t sticking to their plan. Maybe they’ve been diligently saving for retirement when one wants to take a major withdrawal to start their own business. Sometimes it can be as simple as not even bothering to discuss the household’s financial goals. Very often, if you’re not working together, you’re working against one another.

Please understand, I’m all for enjoying your hard-earned money. Sometimes, though, difficult choices have to be made. Perhaps it’s deciding to put off that trip with friends to pay off your credit card, or eating out less to build up your emergency fund. I remember being in that predicament when my family first moved into our home – we lived without furniture in two of the rooms! You see, the key to your personal financial success isn’t typically making more money. It’s really about being aware of your financial behavior and of how your daily financial decisions impact your long-term fiscal future.

1. https://www.housingwire.com/articles/42748-millennials-lead-all-other-generations-in-buying-homes

2. https://www.cnbc.com/2018/07/18/most-millennials-regret-buying-home.html

By
June Adams
April 26, 2021

Protect yourself from these tax-related scams.

Tax-related scams have become increasingly common, and they happen year-round.  Fraudsters will contact you pretending to be from the Internal Revenue Service (IRS), a tax accounting service, or another tax-related agency.  You could receive fake emails, phone calls, letters, or other communications.

Be on high alert for phishing emails. Scammers are attempting to steal information such as tax IDs, account information, passwords, and other valuable data.  Be immediately suspicious of any unsolicited communication (email, text message, letter, or call) that asks you for your Social Security number, login credentials, or other personal information.

Review these helpful FAQs:

  • Will the IRS contact me via email?

The IRS will never initiate contact with you via email, text messages, or social media with a request for personal or financial data. Be extremely careful with any unsolicited email that claims to be from the IRS.

  • What should I do if I receive an email or text message claiming to be from the IRS or another tax service that asked for sensitive information?

Do not reply! Do not click on any links or download any attachments. Forward any IRS-related emails to phishing@irs.gov.

  • What should I do if I discover a website claiming to be the IRS that I suspect is not legitimate?

Do not click on any links, download any files, or submit any information. Send the URL to phishing@irs.gov

  • Are there any trusted resources I can use to identify email scams or websites claiming to be
    the IRS?

The IRS highlights examples of email scams and bogus websites. Find the information online at www.irs.gov/uac/Report-Phishing and https://www.irs.gov/newsroom/tax-scams-consumeralerts.

  • What should I do if I receive an unsolicited phone call or letter claiming to be from the IRS that
    I suspect may not be legitimate?

Contact the IRS yourself to confirm any requests made via phone or letter, particularly those that are threatening or demand immediate payment. Visit www.irs.gov/uac/Report-Phishing for phone numbers and other tips.

  • If I receive a suspicious tax-related email while at work, should I notify my company?

Yes! Report suspicious emails to IT. The IT team can help you determine if a message is legitimate. In addition to confirming requests for your personal data, you should verify any email that asked you to provide copies of W2 forms or your coworkers’ tax-related information.

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