Are you Cyber Secure?
On Episode 188 of the Payne Points of Wealth, we sit down with Keith Tessler, the owner and CEO of CMIT Solutions in the Greater Philadelphia Area. Keith’s company specializes in technology and cybersecurity, serving hundreds of companies and thousands of users. Join us as Keith reveals:
- The shocking scale of cybercrime
- How your email could be a gateway for hackers
- The sneaky tactics hackers use, like cookies, spoofing and fake websites
- Tips to spot phishing emails
- The dangers of imposter social media posts
- How to test the strength of your passwords
- Safe internet practices in public spaces like coffee shops
- The importance of sending and receiving encrypted emails
Don’t miss this eye-opening discussion on how to protect yourself and your finances from cyber threats!
Three things everyone should do to be safe online:
- Get a Password Manager. A password manager gives you unique, complex passwords for every site you sign into, preventing hackers from guessing your password or taking it from one site and using it at another. Also, it makes life easier as you never have to invent or remember another password — the manager does that for you. You just click to apply your password.
- Use Two-Factor Authentication. Every day, the news carries stories of another site that has been hacked. Two-factor authentication is the number one defense against this. Even if someone learns your password, without having your cell phone in their hands, they can’t gain access to your account.
- Lock Your Credit. Good security is created in layers. If one layer is compromised, another is there as a safeguard. Nowhere is this more important than with your financial records. A credit lock (also called a credit freeze) prevents anyone from opening a credit card or bank account in your name. Credit locks are easy to set up and need to be established at each credit reporting agency. The most important agencies are:
Equifax – traditional credit reporting agency
Experian – traditional credit reporting agency
TransUnion – traditional credit reporting agency
Innovis – focuses on identity verification and fraud detection
ChexSystems – used by banks to screen consumer banking behavior
Hidden Facts of Finance
While the majority of stocks lost money from 1926 through 2023, the biggest return came from Altria Group, formerly known as Philip Morris, which turned a buck into $2.65 million during that time frame. Modest returns from a seemingly staid business can generate a fortune over decades.
US consumers spent a lot of time and money shopping online this holiday season, a record $241 billion from November 1st to December 31st. That’s 8.7 more than the year prior. According to Adobe Data. Most online transactions, 54.5% took place via smartphones this holiday season, up from 51% in 2023.
Spain’s economy is rocking right now. Its real GDP grew at 3.3% year over year in the third quarter of 2024, well exceeding recent economic growth for the collective eurozone at only 1%. And in 2025, real GDP is expected to grow at 2.9%, which is actually higher than the U.S. because of immigration, tourism, foreign investment and public spending.
