Less to Invest but Peace of Mind

19 Jan 2014 13:16
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Over the last 10 years I have been notified 3 times that my personal information may have been compromised and Target now makes the 4th. Private businesses inability to adequately secure my data over the years just re-enforces the belief that in this digital age nothing is secure.

It will be interesting to see how the Target fiasco with more than 70 million transactions of data being stolen will play out. Short term I believe they will be the poster child of cyber hacking and will pay out reparations or services provided that will be more excessive than other retailers recently hacked. Being the poster child I'm sure sales will suffer but only for a couple of quarters as most have short memories and after a year this will be a thing of the past. But, in the meantime Target has to suck it up and keep a stiff upper lip throughout. I would not be shocked if the dividend remains static this year but would be surprised if it decreases or halted.

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That aside, I can no longer stick my head in the sand and think all businesses have my back in regards to securing personal data and have to assume some responsibility. On this note, I started a subscription to protect my identity and financial position in life. I signed up with Identity Guard for $14.99 a month that not just monitors but also provides $1 million of insurance protection and recovery assistance.

As I have posted in the past, spare money is never easy to come by and I'm always looking for ways to save and invest of which this commitment will take away from that effort. Yet, the positive is peace of mind protection.

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