Finance 12. Protect your identity No doubt many of us can remember when we didn’t have three dozen usernames and passwords. Unfortunately, those days are gone. Cybercrime is a big issue these days, and retirees are increasingly a target for online scammers, internet fraudsters and other unsavoury types who ply their trade in cyberspace. Remember what grandma said about an ounce of prevention being worth a pound of cure. Take some time now to protect yourself and your money. Change your passwords regularly. Better yet, use a password manager to generate a random one for you. Set up two-factor authentication. Don’t use public Wi-Fi to do your banking. By spending time to take common-sense security steps, you’ll make your financial life much simpler, and ensure that you remain in control of your finances − because you’ll dramatically decrease the risk of ever losing control to a cybercrook. 10. Go paperless There’s something satisfying and certain about receiving a hard copy of your financial records. But, you have to admit, all that paper creates a bit of a burden. It adds to the mess around the house, and it creates a very strong pull to review and curate your files regularly. Maybe it’s time to go paperless. Ask your bank to send your statements via e-mail. Call up your financial advisor and see if they can do the same. It’s not like you’re giving up anything either: if, for whatever reason, you actually need a physical copy, you can always print any of these records from your home printer. If you’re really serious about decluttering, get yourself a scanner and start “digitizing” your old statements and other records. Sure, it’ll take some time but, once it’s done, you’ll be able to store thousands of pages of financial records on a USB drive that’s not a lot bigger than your thumb. That can save you considerable time when it comes to keeping things organized, being able to review your records, and filing/storing them in an easily accessible place. Always remember: time is the most valuable asset that you will ever have, and having more of it is one of the best ways to re-establish a sense of control over your finances, and your life. 11. Tune out the noise One of the most challenging aspects of personal finance is the fact that there’s so much talk about it. Fromnews anchors tomagazine journalists to internet bloggers, someone is always ready to tell you how you should be paying attention to this event or that market trend. Learning more about what’s going on with your money is almost always a good idea. But there comes a point at which too much information can provoke an emotional response – a feeling of being overwhelmed by what we don’t know, or a sense of urgency that we must act right nowor risk financial ruin. If, instead, you’d like to feel in control of your financial life, get into the habit of tuning some of that noise out. Turn off the investment news once in a while. Ignore the financial headlines. Don’t look at your portfolio for a while. Chances are that your money will be just fine, while you gain a sense of clarity about what’s truly important (and what’s not). CSANews | SPRING 2019 | 29
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