6 Ways for Boomers To Preserve Their Digital Estate and Online Assets

Digital wallets have become widely popular in recent years as we move towards an increasingly cashless society. Digital payment methods can provide more accessibility, speed, and security. In fact, Forbes indicated more than half of Americans now prefer using a digital wallet over traditional payment methods.

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What’s more: PYMNTS reported that 49% of baby boomers and seniors are already using digital mobile wallets as of 2024.

However, using digital wallets doesn’t come without risk. Luckily, there are ways to protect your financial information from theft and hackers.

Here are six ways for boomers to preserve their digital estate and online assets, according to Forbes.

1. Steer Clear of Suspicious Links and Emails

If an email or link looks suspicious, it probably is. Be sure to carefully examine your incoming emails to make sure there aren’t any harmful viruses attached. Phishing scams have become increasingly common and it can be easy to fall for them. Look out for red flags like threatening language or misspellings — and always verify the email sender before opening the message or clicking on an attachment.

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2. Regularly Monitor Your Financial Accounts

One simple way to spot financial fraud is to regularly keep an eye on your financial accounts. Check for unknown charges on your credit card and bank statements. Hackers tend to make smaller, more unrecognizable charges with the hopes that they go unnoticed. Consider signing up for mobile alerts from your bank so you’re aware of every transaction when it occurs. This way, you’ll be able to spot unauthorized charges right away and stop the theft before it becomes a bigger issue.

3. Only Use Secure WiFi Networks

Only using secure WiFi networks, especially with devices that contain your financial information, is crucial. Public WiFi networks are used by cybercriminals to gain access to your financial information. When accessing your accounts, be sure to use a secure WiFi network and a VPN at all times. You’ll ensure the highest level of security, giving you peace of mind.

4. Keep Your Devices and Software Up to Date

Regular software updates on your devices are key to protecting your financial information. Updates typically include patches and fixes for software vulnerabilities that hackers can exploit. You can even elect automatic updates for apps and as well device’s operating system software so you don’t have to think about it.

5. Enable Two-Factor Authentication (2FA)

Otherwise known as 2FA, two-factor authentication requires a second form of verification when using or signing into your financial accounts. This can come in the form of a text message, email, or app notification in addition to typing in your account password. This double layer of security makes it more difficult for hackers to access your financial information.

6. Use a Strong Password

Strong passwords can help prevent financial theft. The more characters you use, the more secure your password will be. Try using a combination of upper and lowercase letters, numbers, and symbols. Always stay away from setting passwords that can be easily guessed — such as your birthday, or consecutive number patterns like 1,2,3,4, etc.

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This article originally appeared on GOBankingRates.com: 6 Ways for Boomers To Preserve Their Digital Estate and Online Assets

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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