The New Must-Do Task of Financial Planning: Identity Protection

St. Joseph News-Press, September 5, 2012 | Go to article overview

The New Must-Do Task of Financial Planning: Identity Protection


(ARA) " You've built an emergency fund, have ample life insurance and regularly contribute to your retirement savings. You feel pretty positive about your financial planning strategy. But are you overlooking the must-do task of protecting your identity?

Long gone are the days when taking steps to protect your identity was optional, or something you did only if you had reason to believe your identity had been compromised. Today, identity protection is an essential part of your financial plan.

"With identity theft being the No. 1 complaint to the Federal Trade Commission last year, this issue has shown to be more reality than risk,' says Nikki Junker, social media manager and victim advisor with the Identity Theft Resource Center. "The goal of financial planning is to make an individual feel comfortable with their financial situation for the future. Taking action to protect your financial well-being through protecting yourself from identity theft is an essential part of creating that financial safety net.'

In 2010, 7 percent of American households (nearly 9 million homes) had at least one person age 12 or older who was a victim of identity theft, according to the federal Bureau of Justice Statistics. Identity theft is a growing threat, with millions of people experiencing it every year. The types of identity theft are growing in number, too. Tactics like mail theft, going through trash, credit card theft and phone scams remain common, while medical fraud, tax fraud and 401(k) fraud are growing concerns.

Failing to protect your identity can jeopardize all your financial planning efforts. Fortunately, preventative measures can help minimize your risk of becoming a victim.

First, take steps to physically safeguard against identity theft:

* Shred documents with identifying information, including bank statements, 401(k) or IRA statements, bills, pay stubs and any other paperwork that contains your name, address and other personal details. Use a crosscut shredder on everything before throwing paper in the trash.

* Protect your mail. Either use a locking mailbox or a secure post office box for sending and receiving mail. Be alert to any changes in your mail delivery, like a sudden stop in receiving mail.

* Keep important documents like passports and your Social Security card in a safe, locked location. Don't carry these items with you unless absolutely necessary for a specific purpose. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

The New Must-Do Task of Financial Planning: Identity Protection
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.