Sell I Bonds....or not?

[Chuckanut]

I think if you use biometrics to login the Schwab app bypasses the 2FA even if it’s turned on. That’s what I’ve been told. Perhaps others can confirm it.

I have no problem using 2FA to protect my accounts. Yes, it’s a hassle but I am too old to earn it back which would be a much bigger hassle. Also, now that my ladders are built and mostly populated, and I have adjusted my AA, there is not a lot of reason to logon very often.

 

[Koolau]

I think if you use biometrics to login the Schwab app bypasses the 2FA even if it’s turned on. That’s what I’ve been told. Perhaps others can confirm it.

I have no problem using 2FA to protect my accounts. Yes, it’s a hassle but I am too old to earn it back which would be a much bigger hassle. Also, now that my ladders are built and mostly populated, and I have adjusted my AA, there is not a lot of reason to logon very often.

Okay, everyone else knows or is embarrassed to ask: What is 2FA? Thanks, I guess I'm curious as the cat.

 

[MichaelB]

Okay, everyone else knows or is embarrassed to ask: What is 2FA? Thanks, I guess I'm curious as the cat.

2 factor authentication, like when the bank sends a code to your phone to prove it’s really you.

 

[Sunset]

2 factor authentication, like when the bank sends a code to your phone to prove it’s really you.

(or it's the guy who stole your phone )

 

[Koolau]

2 factor authentication, like when the bank sends a code to your phone to prove it’s really you.

Ah, yes. Thanks so much. Forgive my ignorance of the initials. Yeah, I'm familiar with the 2FA process, now that you mention it. Regards.

 

[Gumby]

(or it's the guy who stole your phone )

I think the point is that he would have to hack your computer password and steal your phone. Although I do not save my passwords anywhere electronically. Maybe some save them on their phone.

 

[pb4uski]

(or it's the guy who stole your phone )

Unless the biometric authentication on your phone requires your fingerprint like Schwab app does... in which case the bad guy stole both your phone and your right index finger.

 

[Sunset]

There are cases (one famous one) in Chicago, when they steal your phone, they have you unlock the phone under threat of another gunshot.

Then it's easy for them to turn off the locking feature as they drive away.

Now they have the email and phone number for 2 factor authorization, can just use the email address on the phone to do bank/brokerage password reset.
Then change the email on the bank/brokerage account...

Then they control the account.

Then try another bank/brokerage, rinse and repeat..

 

[Rianne]

There are cases (one famous one) in Chicago, when they steal your phone, they have you unlock the phone under threat of another gunshot.

Then it's easy for them to turn off the locking feature as they drive away.

Now they have the email and phone number for 2 factor authorization, can just use the email address on the phone to do bank/brokerage password reset.
Then change the email on the bank/brokerage account...

Then they control the account.

Then try another bank/brokerage, rinse and repeat..

They could steal my phone and unlock it. But they'd have to have the password to LastPass to get any accounts or my finger. I'm in big trouble if they cut off my finger which opens LastPass without a password. My iPad and phone relock pretty quickly.

I have an idea for security. An ability to lock all your LastPass accounts by way of a special password sent from either another phone laptop or iPad. Or invent something that can do that outside of a phone, like a clicker of sorts.

 

[madatrub]

It was called OTP for a reason. They should rename it to ETA. And yes, its quite annoying.

With that said, I see some people saying they are waiting til Jan for May 2022 purchases. Why? You should have been getting the lower interest already for 3 months.

 

[Chuckanut]

I’m still waiting to see if Santa Clause comes early this year in the form off a fixed Ibond rate in the area of 1.4% or above.

 

[copyright1997reloaded]

sim hijacking

Just to make folks even more paranoid, SIM hijacking is a thing. In that case, they (the crooks) don't need your phone.

https://www.microsoft.com/en-us/microsoft-365-life-hacks/privacy-and-safety/what-is-sim-swapping

 

[Koolau]

Unless the biometric authentication on your phone requires your fingerprint like Schwab app does... in which case the bad guy stole both your phone and your right index finger.

Lots of movies about stuff like that. Just hope you don't have iris verification!

 

[Rianne]

Just to make folks even more paranoid, SIM hijacking is a thing. In that case, they (the crooks) don't need your phone.

https://www.microsoft.com/en-us/microsoft-365-life-hacks/privacy-and-safety/what-is-sim-swapping

My bank cyber security guy said to always type in the address in the address bar rather than click on a link to a financial account. Fraudulent e-mails sent by Amazon, your bank, Vanguard, and even UPS are rampant. I got a UPS e-mail saying I had a package waiting for me at the local UPS office that had an insufficient address. Click on this link and provide information so UPS can deliver it. I deleted it.

 

[MarieIG]

My bank cyber security guy said to always type in the address in the address bar rather than click on a link to a financial account. Fraudulent e-mails sent by Amazon, your bank, Vanguard, and even UPS are rampant. I got a UPS e-mail saying I had a package waiting for me at the local UPS office that had an insufficient address. Click on this link and provide information so UPS can deliver it. I deleted it.

Yes, I have gotten that same "UPS" e-mail (and message via text) and deleted it as well.

 

[Sunset]

My bank cyber security guy said to always type in the address in the address bar rather than click on a link to a financial account. Fraudulent e-mails sent by Amazon, your bank, Vanguard, and even UPS are rampant. I got a UPS e-mail saying I had a package waiting for me at the local UPS office that had an insufficient address. Click on this link and provide information so UPS can deliver it. I deleted it.

Typing in the address can end up with a spelling mistake, and go to a fake site.
Scammers literally set up 100's of sites with spelling mistakes for a real site.

That bank security person should have said use your bookmarked address to go to a site, and yes never click on a link.

(of course you have to type in the URL the first time, but then save it).

 

[JoeWras]

Unless the biometric authentication on your phone requires your fingerprint like Schwab app does... in which case the bad guy stole both your phone and your right index finger.

Perhaps the most quoted scene in the show "24" when Jack Bauer says:

"I'm gonna need a hacksaw."

 

[Koolau]

My bank cyber security guy said to always type in the address in the address bar rather than click on a link to a financial account. Fraudulent e-mails sent by Amazon, your bank, Vanguard, and even UPS are rampant. I got a UPS e-mail saying I had a package waiting for me at the local UPS office that had an insufficient address. Click on this link and provide information so UPS can deliver it. I deleted it.

Thanks for the heads-up!

 

[Bruno]

Not sure of how the taxes for the interest is handled. When you cash in the Ibonds will you get a 1099 to turn over to whomever does your tax person?

 

[Willers]

Not sure of how the taxes for the interest is handled. When you cash in the Ibonds will you get a 1099 to turn over to whomever does your tax person?

Yes, a 1099 will be generated, but they don't mail them. You need to download one from the TD site.

 

[Chuckanut]

My bank cyber security guy said to always type in the address in the address bar rather than click on a link to a financial account. Fraudulent e-mails sent by Amazon, your bank, Vanguard, and even UPS are rampant. I got a UPS e-mail saying I had a package waiting for me at the local UPS office that had an insufficient address. Click on this link and provide information so UPS can deliver it. I deleted it.

I’ve been getting that message every few weeks. It’s hogwash. You are wise to ignore and delete it.

 

[Koolau]

Yes, a 1099 will be generated, but they don't mail them. You need to download one from the TD site.

Oh, Great! One more thing to remember (and download AND print) I don't have a functioning printer.

Oh, well, I'll likely die before my I-bonds come due or otherwise cash them in. What is so special about TD that THEY don't have to send a 1099?

Oh. Will DW get a basis step-up when I go? That would be handy. Anyone know how that w*rks.

 

[Accidental Retiree]

Oh. Will DW get a basis step-up when I go? That would be handy. Anyone know how that w*rks.

The Finance Buff says no step-up:

https://thefinancebuff.com/i-bonds-taxes-simple-default.html

 

[aja8888]

Oh, Great! One more thing to remember (and download AND print) I don't have a functioning printer.

Save them as a pdf file.

 

[Sunset]

Save them as a pdf file.

+1

It's better because it takes no space.
I'm saving as much records as I can as PDF's or even images, I can carry decades in my pocket.

Of course it's important to back up regularly to different devices/locations.