More on privacy and making things easier for your heirs
Some additional thoughts on a couple of recent articles I wrote...
Good morning,
At the end of September, I wrote this:
It led to several emails from readers asking questions or making their own suggestions about protecting your information.
I wanted to share a few more ideas with you today:
When enabling 2-factor authentication, opt for using an authentication app rather than receiving an email or text. Email is not secure by nature, and phone numbers can be spoofed.
Use a password manager (note: I previously worked for 1Password, but there’s still no other password manager I’d recommend or use) to help generate and save unique login details for each online account. The included password generator will help suggest strong, unique random (or memorable) passwords for each service and save them so you don’t have to remember them.
Never click on (or tap) links in random emails or texts. Instead, visit the official website in your browser by typing the (again, official) url.
Consider using a service like Privacy to generate privacy cards for online purchases. This way, you’re not exposing your actual credit card details.
Use a password generator to create the answers you enter for security questions instead of using your real details which could be public. For example, if you choose the “mother’s maiden name” security question, generate and use a unique password rather than her maiden name which may be public. The same would go for questions like “what was your high school mascot”.
I found the above ideas in the comments of this Linkedin post.
I’ve already touched on some of these items, but they’re all good reminders.
I also wrote this in September:
The motivation for “making your home disappear” could include making things easier on your heirs after you’re gone.
Another tool that might help make things easier is:
It’s an organization system for *all* your stuff…
From their website under “What’s Inside?”
Inside each kit are 15 categories, covering everything from your life insurance policies to your funeral directives, to your dog’s vet information to the code to that storage unit across town. The BEST part of the Nokbox is the checklist inside each folder. On one side, it tells you what to add to the folder. On the other, it tells your next of kin what to do with the information. There's nothing else like it! Nothing has been left out, so you will know you've got it ALL covered.
While this isn’t the only tool designed to help organize your life and make things easier for your next of kin, it seems like a nice, ready-to-go solution.
Virtually every client I’ve ever worked with has told me they don’t want to be a burden on their children or family. Tools like The Nokbox could help in that effort.
Thanks to my friend and fellow advisor, Matt, for sharing this with me.
I recently stumbled across this image on Reddit and I thought I’d share it with you:
“Time traveling” is easy, but it can be problematic to leave the present.
For instance, I know someone that is so future focused that she’s put her health and her finances at risk in the here and now.
And finally, I sent this to all my clients last week via email:
I wanted to send you a document that I've recently started sharing with new clients as they begin working with me.
I'm calling it my Engagement Standards, and I thought I'd also share it with you...
Click here to read it .
While I don't expect anything in this document will come as a surprise to you, I thought it might be a timely reminder as we approach the elections.
As the document states, if you have any questions or would like to discuss any of this, please let me know.
I thought you might find this of interest…
Let me know if you have any questions or feedback about any of the above.
Links & Things
Did you know there’s often a gap between an investment’s return and an investor’s return?
It means that many investors underperform the investments they own.
For more, read the executive summary (the first couple of pages) of this Morningstar report:
The whole report is 20 pages long if you want to dig into the details.
Any additional thoughts? Suggestions? Feedback?
Hit reply or leave a comment and share what’s on your mind…
Until next Wednesday,
Russ