Written by

It’s hard to imagine life before smartphones.  From navigating with maps to paying bills to keeping tabs on our kids, these devices keep us connected and on track. But because they’re so easy to use, it’s also easy to forget how much sensitive data we store on them. 

That includes financial accounts. Today, many people use phones to access and manage their 401(k).  So, securing your phone isn’t just about protecting contacts and photos — it’s also about safeguarding your retirement savings. 

To help keep your information safe, here are five common phone security mistakes — and how to fix them. 

  1. Skipping the Lock Screen:   

The mistake: Not setting up a password, PIN, or biometric lock. 

The fix: Require your phone to auto-lock and use a passcode or fingerprint/face ID. It’s your first line of defense if your device is lost or stolen. 

  1. Skipping Updates:   

The mistake: Ignoring those pesky software update reminders. 

The fix: Updates often contain critical security patches. Turn on automatic updates so you’re always protected. 

  1. Using Public Wi-Fi Without Protection: 

The mistake: Logging into accounts or making transactions on unsecured Wi-Fi. 

The fix: Use your cellular data or a trusted VPN when you’re on the go. Avoid entering passwords or payment info on public networks. 

  1. Downloading Questionable Apps: 

The mistake: Installing apps from unfamiliar sources. 

The fix: Stick to official app stores (Apple App Store or Google Play) and read reviews before downloading. 

  1. Overlooking Backups:   

The mistake: Failing to back up your phone regularly. 

The fix: Enable automatic backups to the cloud or your computer. If your phone is lost, stolen, or compromised, your data is still safe. 

Bottom Line:  Your phone is more than a communication device.  It’s a gateway to your personal and financial life. For 401(k) savers, that means protecting your phone is an important step in protecting your retirement savings. 

This Cybersecurity Awareness Month, take a few minutes to check your settings, update your apps, and secure your device. A little attention now can pay off in peace of mind for the future.

 

Let’s Talk:  At Align, we’re committed to helping people protect not only their retirement savings but the tools they use to access them. If you’d like to learn more about cybersecurity best practices for your 401(k)— whether as a participant or a plan sponsor — let’s connect.