How to Protect Your Financial Information Online

Clients often ask us how they should keep their information secure online. We have 2 suggestions:

First, Use a Password Manager

We recommend using a password manager like LastPass or OnePassword. When you pick a password manager, the point of this is that it stores all of your passwords in your secure online vault.

A password manager allows you to use (and only have to remember!) a single strong password, and will create and store very strong passwords for all of your other online logins.

This ensures you are not repeating passwords or using weak passwords that may be more susceptible to hacking around the internet.

A password manager will keep track of your whole digital sphere for you.

Next, Set it Up

The second piece is that you actually need to use it.

Set up and connect your email, bank account, social media, news accounts, and even your Schwab account with your new password manager.

Make sure you are using the strongest level of passwords for each of those accounts.

Then, make sure someone you know and trust has your one master password for your password manager.

That is a great way to do digital estate planning and know that you have your financial life secure online.

2 Factor Authentication

Another option to secure your online accounts is to set up 2 factor authentication on your logins.

When you set this up you can require that in addition to entering your username and password into a website, you will also have to enter a one-time code that can be texted or emailed to you.

While it does add a step to your online log ins, it also greatly reduces the chances that someone will be able to hack into your online accounts to see or access your personal information.

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