Author Topic: Identity / Financial Protection  (Read 516 times)

wannBeeMillionaire

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Identity / Financial Protection
« on: September 25, 2018, 06:36:25 AM »
Hello folks; what does the community at large think and do regarding fraud protection these days. I am of the school to implement simple (and free/cheap) safeguards but there are larger issues that I would love to get some insights...

1) Identity protection: I tried a couple of "paying services" in the past and found no real value - so all I do is freeze my credit at the 3 bureaus and that works for me - is that enough?
2) Financial protection: The thought of growing old and relying on family to execute your wishes is noble and fine - but how do you safeguard against ulterior motives?

While setting up a will, POA and a Trust is fine to plan and offer asset protection for the future, how do you prevent fraudsters for doing what they do best? Most fraud is committed by known actors (aka family !!)  and its a sad situation and most often is hidden and not reported. I'm looking to get some meaningful insights as to how one can safeguard against this sort of fraud.


Thanks!

wannBeeMillionaire

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Re: Identity / Financial Protection
« Reply #1 on: September 25, 2018, 06:41:15 AM »
Apologies; I posted to the wrong topic and could not remove it!

Finances_With_Purpose

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Re: Identity / Financial Protection
« Reply #2 on: September 26, 2018, 10:18:40 PM »
1)  I put in place various safeguards, one of which is leaving much of my emergency fund in a place that it can't be easily removed/scammed away.  I would be wary of having checks stolen as well; that can get messy. 
2)  That's simply an age-old problem.