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
David McDonough
May 31, 2019

It’s graduation season, and there’s an excitement in the air about starting a new chapter. Mixed in with this excitement is an element of stress to make the right decisions: decisions on how things should be done, when they should be done and where they should be done. All these decisions are common, but they often distract from the purpose of what comes after high school.

We need to remember that higher education has a purpose. It’s more than an experience. The purpose of a college degree is employment. It is an investment, and as with any other investment, you should be calculating the return on that investment.  Spending $100,000 for a degree that secures a job with an annual salary of $40,000 is not the best rate of return.

There are plenty of creative ways to get a great college education without breaking the bank. Parents can start a 529 plan, the earlier the better, to help cover costs. Students can begin their higher education at a community college or secure college credit via Advance Placement (AP) exams. Additionally, students need to be sure that the field they are spending their time and energy on is going to reciprocate by providing solid career opportunities.

Making the wrong decision is not simply an unwise financial move. It can have lasting implications. Recent figures show that outstanding student loan debt has reached $1.5 trillion[i]. Our younger generation is not only struggling under this debt, they are also pushing off other personal and financial milestones, such as purchasing a house[ii], getting married or starting a family[iii]. These decisions can have long-lasting and far-reaching consequences.

Lastly, let’s not forget the countless parents who put their path to financial independence on hold to financially assist their struggling children. While wanting to financially help your loved ones is admirable, it helps no one to offer assistance at the expense of your own security. Just like when traveling by airplane, you need to put your own oxygen mask on and secure your safety first before aiding others. There are no scholarships for retirement, and you won’t have a financial safety net for the future if you don’t work towards creating it now.

College is truly an exciting time. Our young adults are learning who they are, where they want to go and how they intend to get there. At the same time, we cannot forget that college is a fleeting moment, one that is meant to arm the student with the tools needed to create a brighter and more successful future. Be sure to chat with your students to ensure that this experience does just that, rather than straddle these students with debt and stress.

[i] https://www.marketwatch.com/story/student-debt-just-hit-15-trillion-2018-05-08

[ii] https://www.businessinsider.com/student-debt-preventing-the-us-from-having-normal-housing-market-2019-5

[iii] https://www.bankrate.com/loans/student-loans/student-loans-survey-february-2019/

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

Prior to investing in a 529 Plan investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing.

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

Prior to investing in a 529 Plan investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing.

Disclaimer:

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

Stock investing involves risk including loss of principal.

Bonds are subject to market and interest rate risk if sold prior to maturity. Bond values will decline as interest rates rise and bonds are subject to availability and change in price.

There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.

Investing in mutual funds involves risk, including possible loss of principal.

The principal value of a target fund is not guaranteed at any time, including at the target date. The target date is the approximate date when investors plan to start withdrawing their money.

No strategy assures success or protects against loss.

By
Mike Loo, MBA
June 6, 2018

Approaching retirement can sometimes be as overwhelming and nerve-wracking as the transition into your Golden Years. You may start reflecting on what you’ve accomplished thus far in life and what you envision still achieving.

As you near the finish line, here are four things to do in the last ten years of your career.

Create a List of Things You Want to Accomplish in Retirement

The first step is understanding your goals for your retirement. What lifestyle do you envision maintaining? Will you travel? Will you live in the same home? What will you do during the day? As much as you may enjoy golf, you may tire of doing it every day for weeks on end.

Creating a list of retirement goals gives you something to look forward to, and may even motivate you to save more aggressively to reach your retirement goals faster. For example, if you imagine enjoying plenty of family vacations in retirement, you may need to establish a vacation fund.

You may instead envision spending your time volunteering or enjoying hobbies, be it woodworking, gardening, or painting. Regardless of how you choose to spend your time, make plans for it. If you don’t, other family members may be planning out your time for you. For example, you may become the default caretaker for your aging parents, especially if your other siblings are still working. Or you may become the “full time” babysitter for your grandchildren because your children assume you aren’t doing anything all day.

Pay Off Debt

The less debt you have when you enter retirement, the better. Review all current debts you face and compare interest rates and balances. This can help you decide which to pay off first. Once you’ve eliminated credit card and auto debt, see how you can aggressively pay off your mortgage. Not having a mortgage could significantly reduce your monthly expenses and make a considerable impact on how quickly you deplete your savings.

Along with tackling debt, take care of the big-ticket items now, rather than delaying them. These include replacing your home’s roof or other expensive repairs, updating old appliances, addressing your long-term care needs, and keeping your car in good working shape. It’s ideal to do this now while you still have a paycheck rather than when you’re retired and trying to live off of your savings.

Plan Out Your Expenses and Create a Budget

A common question pre-retirees ask is, “will my income sources cover my needs in retirement?” A budget is helpful throughout life but can be particularly beneficial during retirement when your income may be more limited.

Start by creating a budget that includes your essential expenses (housing, healthcare, and food) and your discretionary expenses (such as traveling, entertainment, and dining out). With this list, match essential expenses with guaranteed income, such as setting aside your Social Security benefits to pay for your healthcare. Then, look at your other savings and income to cover your discretionary expenses.

If your projected expenses don’t match your income and savings, you’ll either need to reconsider your expenses or increase your retirement income. These 10 years leading up to retirement can serve as a “trial run” to help instill a higher level of confidence that you can live off a certain level of income once you retire.

Hire a Financial Advisor

How much should you contribute to your 401(k)? What types of investments make the most sense for your circumstances and goals? Often, it’s not until we face a significant decision or make a mistake when we realize that we weren’t equipped with the proper knowledge. And then it may be too late to find help or rectify any missteps we make.

A financial advisor isn’t just there to hand you a financial plan and set you on your way. Think of an advisor as your lifelong financial partner. He or she can provide education, objective advice, and ongoing guidance as you encounter new challenges and opportunities.  This could mean adjusting your strategies, or simply reassuring you of your progress. With education and a reliable partner available to answer your questions, you can feel empowered to make informed decisions.

Next Steps

You don’t have to go at it alone and plan for your retirement on your own. At this point in your life, you should work with an advisor who can help you create a personalized retirement roadmap and work through various retirement scenarios, not just help your money grow. As an independent financial advisor, I want to help you address your retirement questions and feel confident about your future. I can work with you to establish a retirement strategy that integrates your goals and needs. Take the first step by reaching out to me for a complimentary consultation. Call my office at (949) 221-8105 x 2128, or email me at michael.loo@trilogyfs.com.

Get Started on Your Financial Life Plan Today