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Dr Jovan Walker shares on her weekly Money Motives FB live segment on the topic: 5 Ways to boost your security against ID and credit card theft. In leiu of recent and currents events with the World Wide Ransome Attack in the UK, I thought it was appropriate and critical that I discuss on ways to prevent yourself from this and other potential cybersecurity threats.
Here are five ways you can improve your protection against fraud:
1. Create secret “verbal passwords” on your bank and credit card accounts Verbal passwords on all your bank and credit card accounts will save you time, money, sanity, and future chaos. Everyone enters a numbers-based key-code password when withdrawing money from a bank account at the ATM. Some, though not all, retail stores request an ID when you make a credit card purchase at the register. So why don’t banks require a password when you make a transaction at the teller?
Most banks won’t tell you to request a verbal password or phrase to be placed on your bank accounts. This is the most important thing you can do to protect yourself from the fraudsters lurking out there. She shares how to do it.
2. Shield yourself from the “magic wand” with an RFID-protected wallet While shopping in crowds at the mall can be fun, you can also unknowingly expose yourself to a fraud device known as the “magic wand.”
“Wanding” is the process by which all your credit card information can be stolen by a $20 device that is able to read, record, and save it all in an instant. This information is then illegally used to create multiple cards that will be sold without your knowledge and permission.
3. Protect your credit file like a pro If you really want to control you credit file, freeze your account at all three of the credit bureaus: Equifax, Experian, and TransUnion. This is the best way to ensure that your credit is protected. The cost varies per state but usually costs $0-$10 per action. The fee is waived for proven identity theft victims.
Freezing your credit gives you the power to lock or unlock your credit file. It’s your virtual credit file switch. Once you lock your credit file, no one can open a new credit card account—not even you. If you want to open a new credit card account or receive a bank loan, you have to lift the freeze by providing a special PIN. Once you are done, you can refreeze your file using that same PIN. Without your PIN, your credit file can’t be altered.
4. Never let your credit card leave your sight When you’re shopping or eating at a restaurant, think twice before you hand over your credit card for payment. When your card leaves your hands and is out of your field of vision, this is when it can have its information stolen via a smartphone camera or mini card-reader called a skimmer. This type of fraud can happen in the moments you are waiting to get your card back. The best defense is to be present when your card is swiped (funny word, huh?).
5. Avoid making in-store credit card applications I love to save money, especially during the special promotions and the holidays. Most stores will offer immediate credit and an attractive discount on all new purchases with a new on-the-spot application and approval.
Dr Walker will host a 30 minute webinar on "The top 5 threats that every person and business faces- and how to fight them" May 19, 2017 at 12 noon est. To register visit bit.ly/5152017
Visit http://www.jovanwalker.net for more resources from Dr. Jovan Walker

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http://jovanwalker.net Dr. Jovan Walker shares on her weekly FB Live show Money Motives Monday on the topic: 3 Ways to increase your Social Security Benefit.

Wondering how to maximize your Social Security benefits? It’s not as difficult as you may believe. Here are three options almost anyone can do.

Not so long ago, baby boomers viewed Social Security as a retirement program for old folks. High-earning boomers felt that Social Security didn’t apply to them because the monthly checks were small and they believed the system wouldn’t be around when they retired.

Now the tide has shifted. Nearly all boomers have embraced Social Security, and they’re on a mission to get the most out of the system. Maximizing Social Security has become a national obsession, even— especially—among high-earners.

A boomer who has earned the Social Security maximum throughout his career and who turns his full retirement age (66) in 2017 will receive a monthly benefit of approximately $2,800. If he plays his cards right, he could receive even more.

One of the most frequently asked questions by boomers is: “How can I increase my Social Security benefit?” There are three ways to do it.

1 Cost-of-living adjustments

The easiest way to increase your Social Security benefit is to do nothing. In 1975 Congress authorized the automatic cost-of-living adjustment (COLA) based on the annual increase in the CPI-W from the third quarter of one year to the third quarter of the following year.

The annual COLA is applied beginning with December benefits, which are payable in January. Most of the news reports that come out each year when the COLA is announced talk about the high cost of living and whether the COLA increase is enough for seniors on fixed incomes. What is not so well publicized is how the COLA can impact a person’s Social Security benefit over time. The higher the benefit, the higher the COLA increase will be.

#2 Earn more

The second way to raise the Social Security benefit is by earning more. Many about-to-retire boomers ask how their benefit will be affected if they continue to work or, conversely, if they retire early.

Social Security’s primary insurance amount (PIA) is based on an average of the highest 35 years of earnings. If you don’t have 35 years of earnings, your total earnings will still be divided by 35 years to come up with the average. Working longer will allow you to replace those years of zero earnings with positive earnings and bring up the average.

If you already have 35 years of earnings, you can still improve your earnings record if you earn enough to cause an earlier, lower year of earnings to drop off. How will these higher earnings affect your Social Security benefit?

3 Delay the start of benefits

Most boomers are aware of the rules that provide for a reduced benefit if they apply at 62 and a higher benefit if they file at 70. Indeed, the amounts are shown right on the annual Social Security statement. But the difference between the age-62 amount and the age-70 amount doesn’t seem very large at first glance, especially when the carrot of immediate free money is dangling in your face.

Social Security strategies must naturally be integrated into your overall retirement plan. But if you’re looking to get the most out of the system, remember this: Work till 70, claim at 70.
Furthermore, these amounts also do not include taxes.

Most retirees will pay income taxes on 85% of their benefits. But we’re talking here about how to get the most dollars out of the system. Since the government never takes 100% of our money, boomers who maximize Social Security benefits will end up ahead, even after paying the necessary taxes

There may be more ways to increase your Social Security income if you also qualify for spousal benefits, divorced spouse benefits, or survivor benefits. It’s also important to recognize that, while we’ve outlined some general rules of thumb in this video, there’s no guarantee the advice here works well within the context of your overall financial plan and greater retirement goals.

Keeping that in mind, For customized help, contact me at 301.577.6340 or someone who has the calculation tools necessary to analyze Social Security claiming strategies that will consider your individual situation.

I have a free report that I can email to you for a point of reference. Also if you would like to be updated on my next online or physical workshop visit http://bit.ly/SSupdates to join my email list to be notified directly.

Since this is Social Security Education Awareness month I will certainly be hosting something, most likely an online webinar. May 25, 2017 online webinar and June 1, 2017 physical workshop in Owings Mills.

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http://jovanwalker.net Dr Jovan Walker shares on her weekly FB Live on the topic: How to financially prepare for a Government shutdown.
Layoffs are likely if President Trump’s proposed $54 billion cut in the fiscal 2018 domestic discretionary budget, which begins in October, is approved. Of more immediate concern is the need for Congress to agree on stopgap funding before April 28 to avoid a partial government shutdown that would result in furloughs

When the U.S. government shuts down, federal agencies lose access to the funding they need to perform different functions. This affects people across the country. National parks and museums close. Many folks with public sector jobs can’t get paid and the economy takes a hit. While federal furloughs rarely happen, it doesn’t hurt to be prepared. Here’s what to do the next time you hear about a possible shutdown.

1. Pad Your Emergency Fund
   If the government shuts down, you might need to have access to extra money. For example, if your tax refund is delayed, you may need to use your savings to pay for bills that you may have wanted your refund to cover. And if you work for the government, you may need to use your emergency fund to pay for everyday expenses.
   The general rule of thumb is to have at least three to six months worth of emergency savings. But depending on your lifestyle and your financial situation, you may need to save more than that.

2. Create a Financial Emergency Plan
   In addition to building an emergency fund, it’s important to have a financial plan in place for dealing with a government shutdown. For example, you’ll need to prioritize your bills so that you know what to pay first. You’ll also need to consider whether there are any non-essential expenses that you can cut back on so that you’ll have more money at your disposal.

3. Make Sure You Have Access to Credit

In case you run out of cash or you need to make a large purchase during a government shutdown, it doesn’t hurt to have some available credit. Some banks offer access to lines of credit during a shutdown. Finding out whether your bank offers this service could be a good idea.
If your bank can’t extend credit while the government’s closed for business, you may need to work on paying down some of your debt. Paying off credit card debt and the balance tied to your home equity line of credit (if you have one) can increase the amount of available credit you have.
4. Contact Your Bank
Besides asking whether your bank gives its customers lines of credit, it’s important to find out if your bank or credit union provides any special services during a government shutdown. Will you be allowed to take money from your certificate of deposit without paying an early withdrawal fee? Is your bank willing to lower interest rates or adjust any policies? Knowing the answers to the questions can help you prepare for the worst-case scenario.
5. Consider Moving your funds to a more safer vehicle
Making investment decisions based on your emotions is never a good idea. Even if you’re afraid of what might happen to the economy following a government shutdown, it’s best to stay calm and avoid selling off your assets. Riding out the market could be an effective approach, especially if you already have an investment strategy in place.
In the meantime, it’s a good idea to think about when you’re going to rebalance your investment portfolio. Experts say keeping your portfolio as close as possible to your original asset allocation is one way to reduce your investment risk and protect yourself from market volatility.

Government shutdowns affect more than just federal employees. They can delay homebuyers waiting to find out whether they qualify for mortgages. They can also prevent veterans and low-income individuals from getting the government benefits they need. That’s why it’s important to plan ahead so that you know how to respond when the government fails to approve a budget plan and temporarily loses the funding it needs to run properly.
For a free consultation with Dr. Walker visit her site www.jovanwalker.net to set up a no cost, no obligation appt. (301) 577-6340