Hi all. Long time lurker and a new member. I am Finally getting close to later than planned retirement. Didn’t give the notice yet (probably next month), but not really hiding my plans.
I have few questions for this forum that hopefully will alleviate my anxiety.
Financially we should be fine, most likely over saved. Liability protection seems OK - about 70% of assets in 401Ks plus umbrella insurance. The only thing that keeps bothering me is cyber fraud. I realize that anything can be hacked. Possibility of losing the assets keeps me awake at night. I use 2FA for my accounts, check my balances twice a week – ones on a company laptop with VPN (probably will use my own VPN after leaving w**k) and second time on my Chromebook. But still feel uneasy.
So, the questions are
1. Am I too paranoid?
2. If not, what is your advice?
I am thinking of
a) Cyber insurance for fund reimbursement – a minimum amount we can leave on.
b) SPIA for the same minimum amount until we reach 70 and then SS should be enough to survive.
The insurance seems like a simpler, more flexible and fairly inexpensive option. But SPIA is real monthly cash, although even SPIA can be technically “canceled and get stolen”.
Please share your thoughts and any practical recommendations regarding particular products, companies etc.
I have few questions for this forum that hopefully will alleviate my anxiety.
Financially we should be fine, most likely over saved. Liability protection seems OK - about 70% of assets in 401Ks plus umbrella insurance. The only thing that keeps bothering me is cyber fraud. I realize that anything can be hacked. Possibility of losing the assets keeps me awake at night. I use 2FA for my accounts, check my balances twice a week – ones on a company laptop with VPN (probably will use my own VPN after leaving w**k) and second time on my Chromebook. But still feel uneasy.
So, the questions are
1. Am I too paranoid?
2. If not, what is your advice?
I am thinking of
a) Cyber insurance for fund reimbursement – a minimum amount we can leave on.
b) SPIA for the same minimum amount until we reach 70 and then SS should be enough to survive.
The insurance seems like a simpler, more flexible and fairly inexpensive option. But SPIA is real monthly cash, although even SPIA can be technically “canceled and get stolen”.
Please share your thoughts and any practical recommendations regarding particular products, companies etc.