These are things to do to keep hackers out of your 401(k) and stealing your life's work. Your 401(k) can be hacked. How to avoid getting your 401k funds fraudulently withdrawn.
When 401k fraud hackers scammers target people and systems they're going for the low-hanging fruit, not the really sophisticated stuff that's hard to access. Securities and Exchange Commission, however, have some suggestions to protect your 401k accounts and preventing unauthorized withdrawals.
1. Use a strong password and use a password manager. I use
One Password and another popular one is Last Password.
2. Enable two-factor authentication on all of your devices
3. Be mindful of which computer you use to check your accounts. Example: I would not suggest logging on a public Wi-Fi network to check an investment account.
4. Beware of phishing emails and scams from places that claim to be your account verifying.
5. Stay on top of your accounts. Check your statements and if you notice anything weird going on missing money immediately get in touch with the plan administrator.
I received an email from a listener who thinks he may have been a victim of fraud. He checked his account one day to find it had been drained of funds.
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About Scott Alan Turner
Scott Alan Turner is the new and true voice on money in America. Scott is a former money moron, living the paycheck-to-paycheck lifestyle, losing $40k by following bad investment advice, and racking up a load of credit card debt. But by age 35, he turned it all around and became a self-made millionaire.
In a world of get-rich-quick schemes, biased advice, and financial pied pipers, Scott’s authentic, no-holds-barred approach makes it possible for anyone to absolutely rock their personal finances.
With his rebel style, off-beat humor, and signature life-on-your-own-terms approach, Scott’s inspiring a movement of Financial Rock Stars across the globe.
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