Cybersecurity in Your Finances

Speaker 1 – 00:00
Welcome to EWA’s FinLit podcast. EWA is a fee only RIA based out of Pittsburgh, Pennsylvania. We hope all listeners
of this podcast will beneft as we deep dive into complex fnancial topics that we will make simplifed for you. And
we hope that this really serves as a catalyst so that you can make the best fnancial planning decisions for your
family and also save time. Foreign Today’s episode on Finlay, joined here by Ben Ruttenberg. And we’re going to be
talking about, I would say the most important topic right now in the fnance world is keeping your money safe
through cyber security specifcally. So before we get there, though, because we’ve got some very important
information. But, you know, Ben is, I would say, probably the top knowledgeable person in the EWA ofce when it
comes to sports.
Speaker 1 – 00:57
So defnitely, if were keeping track, he would have had the number one amount of picks that we’ve made in the past
on golf tournaments, on different big sporting events. Congrats to him on Ohio State. I’m just going to say that so we
don’t have to talk about it. He’s. He’s made it very well known. Ohio State was the national champion this year.
Speaker 2 – 01:16
You know how much I had to talk about Michigan last year when they won on these podcasts? I had to reli. Relitigate
the Ohio State losses. I had to do a national championship preview. Michigan, Washington. And now it’s like, are you,
like.
Speaker 1 – 01:31
Are you suing Michigan for beating Ohio State? Wait, what happened this year with Michigan at Ohio State?
Speaker 2 – 01:35
Michigan.
Speaker 1 – 01:36
They played him.
Speaker 2 – 01:37
Yeah.
Speaker 1 – 01:37
Oh, but you know, I think that’s exactly what they needed.
Speaker 2 – 01:40
Season. Season doesn’t end on November 30th, but. Yeah, that’s very happy.
Speaker 1 – 01:44
Oh, you know, the specifc date must really sting there. Okay.
Speaker 2 – 01:48
I was there. I was, I was in the stadium. It was not good.
Speaker 1 – 01:50
Was that in Ohio State?
Speaker 2 – 01:51
Yeah. Yeah. Oh, geez.
Speaker 1 – 01:53
Okay, well, they won the National. You can’t argue. They won the national championship, so they came back. So I’ve
got two questions for you. So number one, you know, who are we picking for the Super Bowl?
Speaker 2 – 02:04
I’ve feel like I’ve picked the super bowl wrong every single year since. I’ve loved watching the Super Bowl. My heart is
telling me to bet the Eagles, but my head is telling me to bet the Chiefs. I’m really stuck. I’ll probably end up betting
the Eagles and watch Mahomes lift another trophy as. As he tends to do that.
Speaker 1 – 02:23
I would. I had the pleasure of going to the last super bowl. That Eagles And Chiefs run. Was that two or three years
ago?
Speaker 2 – 02:30
That was two years ago. Last year was Niners, Chiefs.
Speaker 1 – 02:34
Yeah. Yeah. And that was. Yeah, yeah. Okay, so the Chiefs are going for the three.
Speaker 2 – 02:37
Pete was Niners, Chiefs last year? I don’t know.
Speaker 1 – 02:43
I think so.
Speaker 2 – 02:43
Okay, I’m getting my. I’m getting my. Getting my dates confused.
Speaker 1 – 02:48
Or maybe that was because this is the three. This is for the three P. Yeah.
Speaker 2 – 02:52
Niners, Chiefs. And then two years ago was Eagles.
Speaker 1 – 02:54
Eagles, Chiefs.
Speaker 2 – 02:55
Yeah.
Speaker 1 – 02:55
Then. Now it’s a repeat of two years ago. Eagles, Chiefs. I want the Eagles to win, too. All right, I should rephrase
that. I want Jalen Hurts to get one. I think his story from college, you know, Tua came in. Obviously, Tua is an
amazing quarterback in the bowl game. Jalen hurts. Good sideline. Transfers to Oklahoma, right? Yeah.
Speaker 2 – 03:12
Great senior season.
Speaker 1 – 03:13
Wasn’t picked to, you know, go that big. Like what? I can’t remember what draft was his second round pick. I think at
that point he was like a fourth round pick projected. So transfers over, wins the Heisman, and he won the Heisman
that year. Right? At Oklahoma. Oklahoma.
Speaker 2 – 03:28
I. I don’t know.
Speaker 1 – 03:30
I actually.
Speaker 2 – 03:30
I don’t know that off the top of my head.
Speaker 1 – 03:32
All right, we’re not going to edit this because I can embarrass myself. Jalen Hurts. We’re going to. We don’t have an
assistant like Joe Rogan in here that can look up all our information, so I got to Google this real quick.
Speaker 2 – 03:41
I’m leaning no.
Speaker 1 – 03:42
I’m leaning yes. No, he was a runner up. Oh, you’re right.
Speaker 2 – 03:46
Who won it?
Speaker 1 – 03:47
Who cares? Anyways, that may have been 2019.
Speaker 2 – 03:54
God, this is such good podcasting.
Speaker 1 – 03:55
Joe Burrow. Joe Burrow. Jo Burrow.
Speaker 2 – 03:57
Two guys looking up.
Speaker 1 – 03:59
Yeah, so Joe Burrow on it. But, yeah, I’m just a big fan of him. Is. I don’t know him, but, like, seems like a good leader,
a good guy, good attitude. And then obviously, Barkley is like, he’s a free talent.
Speaker 2 – 04:09
Yeah.
Speaker 1 – 04:10
Yeah. So I’d love those two guys to get one. I know in Pittsburgh saying, I want the Eagles, and no, I want Jalen Hurts
and Barkley, given the circumstances to get one.
Speaker 2 – 04:19
I’m with you. It’s just I’ve been down this road before, and the Chiefs just don’t lose these games. So it is what it is.
Speaker 1 – 04:25
Let’s get into it. So that’s gonna be. Promise you that’s gonna be more interesting than what we’re about to talk
about. But no, in all seriousness. So cyber security, just to start out, you know, it’s a couple stats. It’s expected to
reach 10 and a half trillion dollars globally crime. And I think AI is gonna, going to really boost that. People can now
take your voices, impersonate you know, beat some of the very secure systems out there. So today we’re going to
talk about three things. One, because I think the layer of accountability to protect yourself goes down with three
things. One, where your money’s at. How well does that custodian do to protect your money? Two, if you’re working
with a fnancial advisor, I’m going to pick on Ewa for a second. What processes, procedures, systems does that frm
have in place?
Speaker 1 – 05:10
Who is overlooking your money specifcally? And then third is what can you do as an individual to protect yourself as
well? So we’re going to start out with, you know, with Fidelity that we did a lot of research and we have a couple
custodians, but we have done a lot of research on Fidelity. It’s one of our preferred custodians. They do a great job
with cyber security. So Ben, just give us a high level here and we can also, anyone interested, we have this huge
outline. We’re not going to go through everything today, but give us a high level on what processes they have in place
and why we feel so comfortable with them from a cyber security perspective as well as custodian.
Speaker 2 – 05:45
Yeah, as you mentioned, we did a lot of research on this and we found that Fidelity was really extremely strong in the
feld of CyberSecurity. They have fve real mainframes of functions of cybersecurity. So identifying it, protecting
against it, detecting it, responding to it, and then recovering from it. From the identifying standpoint, they tag all
physical devices with barcode identifers. They have a chief Information Security ofcer and a team of over a
thousand associates that have real, just dedicated roles and responsibilities for identifying possible cybersecurity
threats and making sure that they have plans in place to mitigate those if an event comes due. They store all their
classifed data in secure, private and proprietary information into one of four categories, so public, internal,
confdential and highly confdential.
Speaker 2 – 06:40
And if you only authorized users can get into the confdential, highly confdential sectors, they only allow authorized
users to access assets. If an associate ever leaves Fidelity, HR automatically terminates their request. They can no
longer get into the building. They have their own VPN network. So I know a big issue is like public wi f. If an
employee is working at like an airport or a coffee shop, they have an always on VPN that always has two factor
authentication. So even if employees are working remote, they are protected. And then they own and operate all their
own data centers. So their two biggest ones are in Raleigh, North Carolina and then Omaha, Nebraska. And in order
to access those, there’s cardholders, there’s biometric scanners, there’s 24 7, 365 security.
Speaker 2 – 07:29
So all the physical data, the fdelity has extremely under lock and key from an identify and protect standpoint. And
then if an event happens, their response team, they have a full cyber event playbook and a CSIRT that stands for
Computer Security Incident Response Team. You know, they have detailed roles and responsibilities for all
departments. So HR, legal, corporate risk, etc. And then their recovery team is really second to none. They have data
centers with full redundancy to ensure continuous operations in the event of a pandemic fre, water leak, power
outage. Their disaster recovery program is really second to none. Not to get into the weeds here, but fully redundant
H vac systems, multiple top of the line generators and ups backup power that can actively confgure a data and
replicate it in true real time.
Speaker 2 – 08:25
So if a data center goes down, they’re able to replicate it in another data center. So again, we can get into the, we can
talk about this for two hours. But from a fdelity standpoint, in terms of identifying risks, they’re arguably in our
opinion, the best custodian at it. And then if an event does occur, their response and recovery, I was just really
impressed with how they operate from those standpoints.
Speaker 1 – 08:50
Awesome. Well, obviously we can tell you’re a big fan about fdelity, Ben. It’s okay. We appreciate you sharing your
feelings. No, I’m just kidding. That’s great. That was a great outline. So downside, they’re one of they have trillions of
dollars of, one of the biggest custodians on the planet. So, so they’re the number one target. They’re the number one
target. So I think it’s very important to. Okay, my money’s safe there. Awesome. But just know if you followed best
practices, Fidelity also will cover any fraud that occurs. Yeah, if you don’t follow best practices, then you could be
liable. We’re going to talk about cybersecurity insurance you can purchase. We’re going to talk about working with
the team that can act as a second layer of protection. But just as a side note, your fdelity has a zero liability policy.
Speaker 1 – 09:39
If you follow best practices, you’ll get reimbursed by Fidelity. That’s another reason we feel comfortable with having
as a custodian. That’s where you know personally all my investments are held as well. So.
Speaker 2 – 09:49
Sure. Tell me more about what as a frm does to help protect clients data and cybersecurity.
Speaker 1 – 09:55
I know you know this off heart, Ben, but I guess I’ll. I’ll cover this. No, but in all seriousness. So we, you know, we have
an extremely good IT team. The. I think it comes down to, you know, I like to really simplify things like what could
actually happen. Right. So if a client emails or calls and needs money, it’s our job to verify that we’re sending that
money to the right place and it’s not someone else acting on your behalf. So we have very clear procedures in place,
you know, for anything related to cyber security, any money movement. But if we get an email and we’re gonna do,
you know, make sure we call that person on their number. If they say call this number because I’m out of town or
give it to this bank account because I’m. Red fag, Red fag.
Speaker 1 – 10:42
We’re taking that extra steps to make sure any out of the ordinary ordinary money movement that we haven’t already
agreed on a. On a. Is on an automated basis to make sure it’s all you. And that’s more important than ever because a
client could call us right now on a different number or even probably on their number like you can. I’ve seen that
happen before as your voice with AI these days and impersonate. So it’s very important that we take those extra
steps. So that’s with clients from an internal system. We have a great IT team that monitors all of our systems. The
decisions we make for the tech that we use is also extremely important. It all has to be approved by the sec.
Speaker 1 – 11:24
And one of the main softwares that we use is Emoney and the research on the E Money side of things. It’s one of the
most secure document storage systems and aggregation tools that exist for several reasons I’m not going to go
into, but we do the extreme due diligence and make sure every vendor we use for our clients or behind the scenes to
service our clients is the most secure software. And that also gets monitored directly by our IT team as well.
Speaker 2 – 11:53
That’s right.
Speaker 1 – 11:53
A lot of those softwares are owned by Fidelity or on the Fidelity approved list. So they also have monitoring
capabilities as well.
Speaker 2 – 12:02
Yeah, Emoney is great from that standpoint. Each client has a secure vault that they’re able to upload shared
documents to our attention. So if there’s ever a need to send over a tax return that has your Social Security number
on it or just otherwise something you don’t want to send over email, you’re able to upload it. And it’s about as secure
of a portal as you could possibly have. The registration for E Money again creates a unique username and password.
You have to update it every six months. There’s multiple security questions and two factor authentication if you ever
need to access it. And then as you mentioned, it’s also an aggregation tool, so you can link outside accounts from a
tracking standpoint to Emoney to have all of your balances live link in one place.
Speaker 2 – 12:45
But Emoney stores all that data in a third party. So even if your E Money got hacked or you lost your password or
something, anyone that was in your account wouldn’t be able to access your bank account for your checking
account or your mortgage information. All of that is stored on a completely separate third party. So, yeah, really great
tool from a tracking standpoint, but also very safe.
Speaker 1 – 13:09
Absolutely. I’d say the other thing that we do is part of the, what we’ve hired the IT team to do is to actually do live
training and live testing. So they have oversight into our entire. So everything’s held securely through Microsoft,
through Fidelity and then, you know, E Money, like we mentioned a couple other tools, but they purposely send out,
you know, phishing emails to test employees the response. And so far it’s been, you know, 100% from what we’ve all
used our head. But those, I’ve asked them to make those harder and harder. So we have live training. We discussed
that during our weekly team meeting as well. Because again, we think this is absolutely the number one risk for
clients. Absolutely. Number one risk for us as a frm. Also number one risk for fdelities. Any fnancial institution that
exists.
Speaker 1 – 14:04
This is number one risk. So we’re constantly doing training, testing, discussions, you know, around what we’ve seen.
But I think having the institutional backup of the. One of the largest zones in the world of Fidelity and then having a
team that’s so dedicated to this is super important because how I’ve seen all the time, I mean, fnancial advisors like
text message, you have to have this archived to be SEC compliant. And how many times, you know, get a request by
text and they just do it, send the money and you know, that’s not that person now the money’s gone forever. Yeah. So
not a mistake that we’re, you know, hopefully that we’re will ever, we’ll ever make in ewa’s existence. So. Okay.
Speaker 1 – 14:46
And I think the communication that, you know, having things uploaded in secure vaults, being careful what we email
through, having the right, you know, systems in place for that is also something that we do as well.
Speaker 2 – 14:57
Yeah. And from an advisor standpoint, I’ll just end with this. Know your client if you get an email. You know, we meet
with clients, detailed review meetings twice a year. But we’re in constant communication throughout the year. So you
get to really know who you’re working with. And if you get a request that’s out of left feld or that doesn’t seem right
as an advisor, that’s on you to not only verify it, but just knowing the back of your head like this is outside of the
norm. This is not their normal fnancial planning conversation that we’re having here. So it’s on you to verbally verify
it and make sure that you know, you’re using your head and making sure that all requests are true.
Speaker 1 – 15:34
Absolutely. Okay, now let’s talk about what clients can do. So I think the best way to do this is I’ll just talk about
everything I do. So Ben, you can, you know, ask me any questions. We’ll go back and forth, but I’ve researched this a
ton. You know, we’ve had, you know, friends. A lot of people are affected by this. But if you follow the right systems,
know that it can always be recovered. If you don’t follow the right systems, you don’t have the right protections in
place. That’s where some permanent losses and permanent, you know, stress will be there.
Speaker 2 – 16:01
So, so you mentioned you have your assets at held at Fidelity. Personally, what protections does Fidelity offer from a
cash standpoint, from an investment standpoint to help make sure that your accounts are protected.
Speaker 1 – 16:13
I wish these came into play for me because that means I’d be doing a lot better than I actually am. Ben. But yeah,
from a cash perspective, what’s nice is, you know, their money market is paying 4 point, I think it’s over 4, 4 to 5%
right now. And you know, that’s as good or better than most banks. And so they offer $500,000 spic. That’s federal
protection on the money markets. They’ve also purchased additional insurance just on cash. So money market or
cash positions up to 1.9 million. Instead of having 250 in each CD or like having these different bank accounts or
CDs spread out everywhere, you can have all your cash there in money markets. Up to 1.9 million. From a security
perspective they have protection up to 1 billion per client. From a security.
Speaker 1 – 16:57
So if you’re purchasing stocks, mutual funds, ETFs, treasuries, we’re a big fan of for that’s safer than cash because
you’re just going directly to the government. If you’re doing a money market or a bank account, you’re secure through
the government. And doing Treasuries, you’re just going direct through the government.
Speaker 2 – 17:13
Right.
Speaker 1 – 17:14
Doing that, the right custodian. It’s technically a security now you’re protected up to that billion dollar level. So
literally the safest thing you could do. If you’re worried about your money being safe and from a cyber security being
safe as well, not stolen. So that’s a Fidelity. And then you know, as far as like logging in, this is again low hanging
fruit. Multi factor authentication is so important. So important. Make sure you have that text message to go into your
phone. I would change, you know, change your password, you know, at least every quarter. Make sure it’s unique. Use
a password manager. There’s different opinions about that those. But the other thing you have to think about too is if
and I’ll get in this. I do some pretty intense stuff just because I do travel for work a lot.
Speaker 1 – 17:59
I travel for fun a lot. So we’ll walk through that. But that’s the answer your question. That’s everything Fidelity
specifcally that I do. And I think the other important thing, why not have a separate bank account just for cash fow.
But why I keep everything there is, you know, time wise. One, it’s all protected because Fidelity offers those limits and
I’m nowhere close to those limits. And two, from my I think monitoring and doing a monthly check in I do like a net
worth update every month that forces me to make sure everything looks okay. And there’s a lot. I keep certain
accounts that transactions occur and certain accounts no transactions occur other than a contribution to them. So if
you keep them simplifed and keep things separate like your monthly expenses separate from like Fidelity I view is
just my wealth building platform.
Speaker 1 – 18:46
All that’s happening in there ideally is money’s going in getting invested. So it’s pretty low, you know, maybe fve
minutes a month. I’m going in updating the net worth checking to make sure activities are right. And it makes it
really easy to see all activity in the last 30 days. If I do that on a monthly basis, what I do I know if everything looks
right or not. Pretty simple. Okay, so that handles Fidelity. What’s the next question?
Speaker 2 – 19:08
So maybe assets outside of. Not necessarily assets outside of Fidelity, but are you doing credit checks? Are you
doing. How are you protecting against identity theft? Do you have any services or policies that you have that are
checking that for you, things like that?
Speaker 1 – 19:22
Yes, I use LifeLock. They send me alerts all the time, which is nice. Every time I, you know, sign a DocuSign and, like,
had to give personal information, it thinks I’m like, opening a new account. Every time I open up a new credit card for
points, it’s. I don’t use LifeLock for any tracking. I use it because they provide. In the event that my identity gets
stolen. They provide at the highest level. I think it’s like 30, 40 bucks a month person. I just know it’s gonna be taken
care of. They provide the legal team to correct it. They also provide up to a million dollars of protection for identity
protection as well. And that million dollars, I mean, someone. We’ll talk about what’s protected and what’s not. Like,
credit card purchases are always protected. Debit cards, not typically. Right, right.
Speaker 1 – 20:06
So that million dollars, I’m not doing a lot outside of credit cards. I’m not touching the money at Fidelity. That million
dollars for me is just like a super sleep well at night. If something happens, inevitably, I’m sure it will in the future
because, you know, unfortunately, there’s a lot of smart bad people out there. That’s just a check mark. It’s going to
be taken care of.
Speaker 2 – 20:24
Sure.
Speaker 1 – 20:25
So that’s what I do from LifeLock. I also have, through my homeowner’s insurance policy, a cybersecurity insurance.
And that’s up to $250,000 through Chubb is who I have. And so that gives me extra protection as well. So on a
Fidelity, assets are protected. On the lifelock, if something happens that’s protected. I have the Chubb and the
Cybersecurity, which anyone can add that on their. Their homeowners policy is just like a rider. Yeah. And just like
you should have an umbrella policy above your asset level, it’s capped at 5 million. And then you should have a.
Everyone at this point should have a cybersecurity policy. I think it’s like 20 bucks a month to get that $250,000
coverage. Yes. That’s what I’m doing out of Fidelity. And then the. I wanted to stop. I just lost my train of thought. Oh,
credit karma.
Speaker 2 – 21:14
Yes.
Speaker 1 – 21:14
I mean, generally, like I do, I log in to LifeLock, does this credit karma does this where it just, it’ll show you all the
stuff you have. It’ll show the crazy amount of credit cards I’ve closed now. And it shows my open accounts. And I
just do a quick check, you know, once a month. I’m updating the net worth. I’m checking fdelity, I’m checking the
bank accounts. And I’m just going through credit karma and saying, hey, are there any accounts I didn’t open?
Because right away that’s a red fag. I know someone’s got my identity. So that’s what I’m doing to make sure that
the accounts I have are actually my accounts. It’s very common.
Speaker 1 – 21:45
Like, you know, you hand a credit card to a waiter, maybe that waiter, you know, waitress, whatever, snaps a picture of
it and then you see some bad transactions. Well, that gets covered right away. You get a new car in the mail. That’s
very common. That’s happened to me probably 10 times in my lifetime.
Speaker 2 – 21:58
Yeah.
Speaker 1 – 21:59
Doesn’t matter though, because I always use a credit card when I’m out. And those are always protected though.
Speaker 2 – 22:03
They’re really good tips. I really have nothing to add. That was, that was a really comprehensive breakdown.
Speaker 1 – 22:10
What else, what about traveling? So you’re at the airport.
Speaker 2 – 22:16
Yeah.
Speaker 1 – 22:17
You’re at a coffee shop in a different country. What are you going to do, Ben? And you’re, and you’re like, I got to
work. Dr. Smith is calling me and I know I’m on vacation, but when Ewa standards I got. No, I’m just kidding. We
know, but we do, you know, especially advise on our team. We do work on vacation because money never sleeps.
That’s. I forget what movie that is. But it’s true. We take this job extremely seriously. A lot of time clients have high
stress things that need to happen right away. Let’s say you are traveling on vacation. You need to plug in for 15
minutes. How are you going to go about doing that?
Speaker 2 – 22:49
Yeah, really the number one fear that I would have is to have my phone get stolen. It is face protected with a
passcode, but the last thing I would want is someone to get into my email. So if I’m ever out of the country or out to
dinner or something, I would actually just leave my phone in like my safe. If I know I’m going out and not even really
bring it. I just, that’s my biggest fear is having my phone stolen in a foreign country. So if I’m ever out I know you’ve
mentioned before you wear some fashion belt that, you know, links to your pants. Is that. Is that right? That holds.
Speaker 1 – 23:23
Yeah, that was once in Europe, in Spain. Like, your wallet goes under your thing, but I’m thinking more from a WI FI
perspective. So, you know, never get on a public WI Fi. So you can turn your phone. If you have an iPhone, you can
turn it into a hotspot. That way it’s specifc to you and make sure sharing is not.
Speaker 2 – 23:38
And that’s password protected?
Speaker 1 – 23:39
Yeah, that’s. That’s password protected. I also, again, I’m. I’m over the top, but I also, you know, take this very
seriously. And not only do I have to protect my identity, but to protect, you know, all the clients of BWA if. If we’re
working. And it’s typically what I’m doing. So I also have a VPN service that I use as well. So anytime I’m outside the
ofce, I’m using either my home secure Internet. If I’m outside of my home or the ofce, I’m using my phone as a
hotspot. I’m also using a VPN on my computer as well. I’m taking my daughter to a mission strip in Kenya this year
to this. This school called Edu Kenya. It’s gonna be amazing. Former colleagues, our family started that school.
They’re doing great things, but I bring Starlink to that as well, because I.
Speaker 1 – 24:27
There’s not gonna be Internet there and I’m gonna still have to plug in. So that’s. That’s defnitely secure as well. So
I’m excited about that. It’s got to be a.
Speaker 2 – 24:33
What’s the. What’s the time difference there?
Speaker 1 – 24:35
I don’t know.
Speaker 2 – 24:36
Like, I’m gonna get emails from you.
Speaker 1 – 24:37
Like, 3:00am well, that happens even right now. So, no, it’d probably be more normal there because the time
difference. But, yeah, so I would say all of those things and then. Oh, I had it. I had another important one.
Speaker 2 – 24:52
I would say the. The. Oh, okay. Go ahead.
Speaker 1 – 24:54
You said the phone.
Speaker 2 – 24:55
Yeah.
Speaker 1 – 24:56
I travel to some pretty crazy places. I went to the, as you know, the Amazon rainforest a couple months ago. And so
what I learned there is that, you know, and that was in, like, few back through Ruanero is how you pronounce it.
Amazing city, beaches, hiking, food. It was awesome. But one of the most dangerous in the world. I didn’t know that
until, you know, I was there. But anyways, they steal your phone. Like, there’s a huge wealth gap there. So typically
they Know if they can get on your. When I say they, there’s, you know, certain people that will ride around on bicycles
and they’re known to foreigners. You got to keep your phone in your pockets.
Speaker 1 – 25:35
It got me thinking, if I’m in these kind of travels, my new policy is if I’m out of the country, I have a different phone.
And that phone just has the basics on it. Doesn’t have any bank accounts, doesn’t have any business related apps on
it. It just has basically, you know, me and my information and probably Uber and just a couple apps I need to travel, a
translator, a language translator, et cetera. But yeah, if I’m out of the country, my main phone, which has all my
fnancial information, I’m not gonna travel with it. Because you think what could happen?
Speaker 1 – 26:08
Well, someone has my phone or, you know, something happens and they, they hit me and now they’re face IDing me
and I’m knocked out, like, yeah, this is literally what are they gonna do if they have a phone that has nothing on it? I
just need it to communicate with people.
Speaker 2 – 26:20
Yeah.
Speaker 1 – 26:21
So that’s another. If you’re gonna be in a more adventurous area, which I plan to be, is I would travel with a different
phone than your main phone because that, your whole. Typically, most people with their whole life is on their phone.
Speaker 2 – 26:31
So yeah, the one thing that I would add, it’s so simple, but password storage. You’d be shocked how many people
use the same password for everything. This is not breaking news, but use the same password for everything. Their
password for everything is one name. Maybe you add an exclamation point or you add a capital letter here or
something. Make your passwords different for every site. And if you think you’re gonna forget it, store your
passwords on a secure app on your phone. I use KeepSafe Secure app and I just have a note with all of my logins, all
my usernames, all my passwords. Every time I need to change it, I log into the secure note and I change it and it’s
very easy to track. It’s super simple and it’s super secure. Easiest way, I don’t like saving passwords on my computer.
Speaker 2 – 27:15
If my computer gets stolen and it’s automatically there, you know, whoever can get in can just get in. So I like to just
keep it totally separate on my phone in a secure note where no one else can see it.
Speaker 1 – 27:25
I think I’ll close with that as well. I think with today there’s. If My, I always think, worst case scenario, my phone got
stolen, we just address that. What if my computer gets stolen? I actually don’t keep anything on my desktop like the
hub of the computer. Everything’s in these secure clouds. And so when I operate, if my computer gets stolen within
fve minutes after that, I could go into every system I’m in and change password. So literally, this computer, no one
could access anything on it because I can, you know, change the password, change my profle of where everything
saved and act very quickly. So that’s another. If you, if you think about where you’re at risk. If someone had this,
would I be in trouble?
Speaker 1 – 28:11
If the answer is yes, think about adapting how you do business or how you live your life so that you know you could
withstand a catastrophe. If someone, something gets stolen, a tool, someone logs in, you could adjust it very quickly
and accordingly.
Speaker 2 – 28:26
Absolutely.
Speaker 1 – 28:27
Thanks for tuning in to our podcast. Hopefully you found this helpful. Really hope this is as benefcial and impactful
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