Don’t Let Identity Thieves Tarnish Your Golden Years

Here are some good thoughts on protecting yourself from identity theft courtesy of ARA Content:

The image of retirement and retirees has changed a lot during recent years. Today’s retirees are taking advantage of being free of day-to-day work responsibilities and enjoying the freedom to pursue their interests via travel, revisiting long-forgotten hobbies or even going back to school.

Retirees have earned the time to fulfill their dreams by working hard and planning wisely for their financial future. That is why it is so important to carefully manage your finances during retirement as well.

Protect Your Credit

When you retire, your lifestyle may change enough to warrant a big transformation such as renovating your house, buying a vacation home, RV or boat, or even downsizing to take advantage of the lower maintenance cost of a condo or townhome.

Any of these options likely would involve a loan to help pay for the project. Before you apply for that loan, check your credit report and your credit score so you’ll know where you will stand with lenders. “The better your credit score, the better the interest rate you can expect to receive from lenders,” notes Maxine Sweet, vice president of public education for Experian, a global information solutions company.

Web sites like www.experian.com give you quick and easy access to your credit report and credit score. “Even if you have an unblemished payment record with your credit card companies, it pays to check your credit report for inaccuracies that could affect your standing,” says Sweet.

Travel Tips

If your retirement plans lean more toward seeing the world than remodeling your home, you need to be a savvy traveler. Identity thieves prey on travelers, finding personal information in mail left uncollected while you’re gone, by hijacking PIN numbers or by old fashioned methods such as stealing your wallet.

In order to enjoy your travels without worrying about these matters, follow these tips.

At home:

• If you are receiving pension or social security checks, take advantage of direct deposit so checks won’t be waiting in the mail.

• If you have a trusted neighbor, friend or family member, ask them to collect your mail while you’re gone. Otherwise, have the post office suspend delivery while you’re away. “Your mail can contain information that could help identity thieves victimize you, such as your Social Security number, name, address and account numbers,” says Sweet.

• When you return from your travels, check your credit report for any unusual activity. To make checking your credit report even easier, sign up for a credit monitoring product to help protect you while at home or away. Knowing that your credit report is being monitored daily and that you will be alerted if key changes are detected gives extra peace of mind.

On the road:

• Carry only the one or two credit cards you use regularly. Keep the others either at home in a secure place, or even better, in a safety deposit box at your bank.

• Protect your PIN number when you use your bank card or credit card at ATM machines or store registers.

• Use credit or debit cards instead of cash whenever possible so that you aren’t carrying a large amount of cash with you when you travel. Remember to take all of your receipts when paying by credit card so your account information doesn’t get into the wrong hands.

These common-sense precautions will help you protect your finances so you can relax and enjoy your retirement.

For more information on learning about your credit, visit www.experian.com 

Comments

[J Fullmore]

There is much more to identity theft than just credit cards. Our personal information is always at risk, no matter how careful. We all have gone to doctors and hospitals,(medical identity theft) we all have state id with dmv,we file taxes(computer breach 2006)schools, universities, veterans administration(all stolen computer files in 2006) the list goes on, and folks it will get worst and don't kid yourself to think it won't happen to you! It's not if, it's when and we can all be more educated on some solutions more than what's been stated on this site!

I can give you sites for more info, only if asked...