Step 11: Access free annual copies of your credit report.

 You can access free annual copies of your credit reports from all three national consumer reporting companies at www.annualcreditreport.com or by calling 877-322-8228. You are legally entitled to one free copy per year, so make use of that. (Note that if you choose to go through the reporting companies individually they can charge you up to $8 for a copy of your report.)

FTC statstics fromt heir February 2009 report show that people over 65 are the least likely to make use of this important method of protecting your identity.  Don’t follow the crowd!  These reports are free and wast to obtain.  Most importantly, they can help you detect suspicious activity on your existing accounts or find any new accounts opened in your name, allowing you to stop identity thieves and minimize losses.

Source: MD Producer

Step 10: Use caution when using the internet.

The internet provides a wealth of information, financial offers, shopping and other services. However, at the same time, it opens consumers to an array of online scammers and identity thieves. We want you to feel secure going online and checking out our website to learn about Roth IRA Conversions, Estate Planning, Asset Managment and Tax planning services.  So read on to find out how to be use the internet and protect your identity with confidence.

A few ways online scammers commit identity theft is through phishing. Phishing is when a pop-up or email claims they are from a business that you may deal with, such as your bank, and they ask you to update, validate of confirm account information. These are bogus and can be costly. Make it a policy to never respond to emails or pop-ups that ask for personal or financial information. You should also protect yourself from spam. Many internet providers offer filtering software to help limit the amount of spam that gets through to email users. Some tactics to help prevent identity theft through the internet are:

• Use creative passwords.
• Protect your personal information. Share your information only with companies you know and trust.
• Know who you are dealing with.
• Take your time. Resist the urge to “act now” despite tempting offers.
• Read the small print.
• Never pay for a “free” gift.

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Step 9: Use creative passwords.

 Creative passwords better protect your information. Select intricate passwords on your credit cards, debit/bank cards, phone accounts and internet accounts. Stay away from obvious choices such as your mother’s maiden name, a pet’s name, your birth date, or anything else that might be easily available.

If the password criteria allows for it try mixing letters and numbers in the same word and using pass-phrases rather than passwords.  For instance:

R3t1r3S3cur3 = (RetireSecure)!

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Step 8: Make a backup list.

If you ever do have a wallet stolen or lose other personal information, you’ll need to act quickly to minimize any damages. Some people suggest making a photocopy of the front and back of your credit cards and debit cards. A simple list is also sufficient, as long as you record account numbers and the phone numbers to call if the card is lost or stolen. However, CPA, attorney and noted IRA speaker, James Lange recommends you keep this list in a safe but accessible place. If you need to report your cards lost or stolen, you don’t want to risk having it locked up in a safe deposit box, as the bank may not be open when you need to get your list! If you’re going on vacation, take only a list of the toll-free numbers you would need to call to report all your cards lost or stolen, and keep that list in a safe place other than your purse or wallet.

Source: MD Producer

Tune in to The Lange Money Hour tonight to hear from legendary IRA expert, Seymour Goldberg.  Sy is one of America’s top IRA experts and will be spending an hour with Jim talking retirment planning, investing, and whats to come.

The Lange Money Hour airs tonight at 7:05 EST on KQV 1410AM, or you can stream it live at KQV.com.  If you miss the show, tune in the following Sunday at 9:05am for a repeat airing!

Step 7: Pay close attention to your bills.

 Know your billing cycles. If your bills are even a couple days late, contact your creditor. Late or missing bills could mean that an identity thief has changed the mailing address on an account to avoid detection.  Review your credit card bills and checking account statements as soon as they arrive, and look into any suspicious checks or charges right away.

Have any cards you don’t need or use? Consider canceling them. A thief could get access to that dormant account, and you would only find out about it once bills started arriving in your mailbox. For those of you worried about possibly hurting your credit score by closing dormant accounts, Liz Pulliam Weston from MSN Money suggests not closing your oldest account (as credit scores are based partly on length of credit history) and not closing several accounts at once. Credit scores are also partly based on your debt as a percentage of your available credit, so closing several accounts would greatly reduce your available credit without changing the size of your debt.

Source: MD Producer

Step 6: Protect your mail.

Your mail can hold a lot of information about you, enough even to steal your identity.  IRA and Retirement & bank and credit card statements all have personal information inthem that is very valuable to thieves.  Protect yourself by collect your mail promptly, and use a post office collection box for outgoing bills. Whenever you go on vacation, ask the post office to hold your mail or get a post office box.

Source: MD Producer

Step 5: Destroy personal documents before disposal.

Before throwing anything in the trash, shred or otherwise destroy documents such as credit card receipts, old credit cards, credit offers, or bank, medical or insurance statements. You don’t want these documents lying around on the curb waiting for trash collection.

Step 4: Don’t carry unnecessary personal information.

 When you come in to see Jim Lange or any of our attorneys or CPAs, we may ask you to bring your IRA and Roth IRA statements, your previous years tax returns, and your current wills, trusts, and insurance or beneficiary based documents. We even ask you to fill out a form with important information about you to create our client profile and give yout he best advice possible.

But you shouldn’t carry these things around with you on a regular basis. We just discussed not carrying your social security card in your wallet, but there are other documents people sometimes carry with them that identity thieves would just love to get their hands on. Bank account numbers, PIN numbers, passports, birth certificates and blank checks can all provide a huge amount of information to a thief. Don’t carry them unless absolutely necessary.

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Step 3: Don’t leave personal or financial
information out in the open.

The latest data in the FTC’s most recent Identity Theft Survey Report shows a shocking 16% of identity theft victims personally knew the thief—family members, friends, neighbors, in-home employees and coworkers were all implicated in these cases. With that in mind, it is always best to keep all personal or financial information in a safe place in your home. Don’t leave it lying around, especially if you are having work done on your home or hire outside help.

Material provided by MD Producer