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Money 101:
Personal Money Planning's Newsletter
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Howdy!
I hope summertime is treating you well so far. As we hit the halfway mark for the year, President Obama and others in Washington have a lot of work to do when it comes to the budget. I discuss one of the president's proposals and what it could mean for your retirement in one of the Times Record News articles below. Also in this issue, an informative link about Obamacare, in case you missed it on my Facebook page.
--Gary Silverman, CFP |
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Gary's Soapbox:
Protect Your Accounts from Hackers
You know your friends well enough that you don't jump at every email stating that they are stranded in a foreign country and need you to send money NOW. Do your banker and financial advisor know YOU well enough not to make that mistake? Unfortunately, email hackers attack every day (read some hints to protect yourself here), and one of the scams they pull once they have access to your information could be sending messages to the people who manage your money. The hacker may say: "I can't believe I can't find my account information, please send it to me," or "I have decided to pay cash for a new boat and need to empty my account, please transfer funds to xxx-xxx account."
Besides protecting your email so this won't happen, be proactive with anybody who controls your accounts. Find out what their security measures are. Do they require your signature to withdraw funds? If they need to hear from you directly, in person or over the phone, how do they make sure it is you? Request that your bank or advisor set up a special password or PIN code that you would need to provide in order to receive any information or make any changes over the phone or in person. Like your ATM PIN code, don't share it, especially via email, for any reason.
If it is possible, check-in periodically with your bank and your advisor (you should be checking in with your advisor anyway), and let them get to know you a little more. By keeping yourself visible, it may lead to additional scrutiny if someone claiming to be you calls with an odd request. At the very least, make an effort to keep your passwords strong and hold your money and investment managers to the highest standard.
--Gary
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Gary's Latest Articles
From Times Record News
Retirement Savings Cap
Since President Obama released his budget proposal there's been a good amount of negative press about one of its components: The retirement savings cap. Read More...
Extreme Index Investing If you listen to the popular media, you may think the only way to invest is through an index, but where would that leave the investing world? Read more... |
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Money 101: Affordable Care Act,
aka "Obamacare"
Recent polls have revealed that many Americans do not understand how the state-run health exchanges are going to work. This article takes a closer look, and discusses the good and the bad that may they may bring. Read More... |
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FINAL THOUGHT
Father's Day Funny
"Dad, are bugs good to eat?" asked the boy.
"Let's not talk about such things at the dinner table, son," his father replied.
After dinner the father inquired, "Now, son, what did you want to ask me?"
"Oh, nothing," the boy said. "There was a bug in your soup, but now it's gone."
Have a great weekend!
Gary Silverman
Personal Money Planning |
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DISCLOSURE
This newsletter is produced by Gary Silverman, dba Personal Money Planning, a registered investment advisor located in Wichita Falls, Texas.
Information in this newsletter is believed to provide accurate and authoritative information in regards to the subject matter covered. However, the accuracy, timeliness, or applicability of the information is not guaranteed and is provided with the understanding that we are not rendering legal, accounting, tax, or other professional advice or services.
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