Monthly Archives: October 2018

Cybersecurity: Q&A

cybersecurity

We all know this one – use different passwords and switch them up periodically. While this is a helpful tip to avoid being hacked, there are some questions you may still have on cybersecurity. Luckily, Peoples Bank & Trust offers a few answers to your existing questions.

Question: How can I protect my personal information from an attack?

Answer: Be sure that your antivirus program is up-to-date. When it is time to renew that software, do it. Don’t wait around thinking it will be okay for a few weeks. Hackers have more freedom to get your information when anti-virus programs are down. Another tip is to update your WIFI password regularly along with creating a unique network name.

Question: How risky is using public WIFI?

Answer: Even though free WIFI sounds like a great deal, don’t be tempted. Hackers sit waiting for potential targets connecting to public WIFI zones. They have the perfect opportunity to go undetected and gain access to your personal information.

Question: What kind of passwords should I be creating and using?

Answer: Utilize a password that contains letters, numbers and special characters such as @, #, ^, etc. Be sure that everyone in your family uses different passwords with separate logins. This ensures that if one person gets hacked, that other family members’ information can still be protected. Be sure to turn on 2-step authentication wherever it’s available and keep your browser and software updated.

Question: Can a hacker access my webcam?

Answer: Although the short answer is yes, don’t begin to worry too much. As long as you continue to make updates to your software, you should be okay. Cyber criminals focus on drawing you to untrusted sites, having you click on links or download certain items. Once this happens, hackers are able to begin stealing your information or encrypt your data. Some even make you pay a “ransom” to get control of your computer and access to your information.

Question: Is paper the safe option to do business?

Answer: Doing business electronically is perfectly safe if you use the right tools. Paper information can be stolen, lost in the mail or misplaced into the wrong hands. Properly securing your business passwords and information along with keeping it separate from your personal information will help protect your data. Shred any hard copy information you no longer need if you decide to go that route and lock up the important files that shouldn’t be left in the open.

We hope these answers help you understand cybersecurity a little better! Don’t be afraid to surf the web – just stay aware and continue updating your software. Don’t get caught up on the technical terms, just read information from trustworthy sources to better protect yourself!

 

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

How to Save for Retirement

retirement

Bankrate estimates that half of the American population won’t be able to maintain their standard of living once they stop working. While your current bills and loans seem like a top priority, we also don’t want you to forget about what the future holds. It’s important to keep paying off your debt, however, Peoples Bank & Trust wants to offer you a few helpful tips on how to save for retirement.

Direct Deposit

Having money directly put into an IRA or savings account is a smart way to save. This will help you get used to living at a certain income level. When the money from your paycheck is taken out right away, you never have the option to spend it – this means you were never used to having an extra amount of cash. As time goes on and you begin to pay off your debts, you have the option to enlarge the amount that you directly deposit into your retirement fund!

CD & Savings

Putting money into different CDs or a special savings account can help increase your quality of life when retirement comes. Having a place with extra funds will create a greater cushion if expenses rise. Having an accessible place where you can get liquid cash is always a safe idea. These accounts will never lose money and usually don’t come with penalties if you decide to withdraw your money early.

IRA

You can defer paying income tax on up to $5,500 that you contribute to an IRA. Couples can contribute to IRAs in each other’s’ names and can shop around for accounts and funds that charge especially low fees. An IRA is easy to open and gives you the option on how you want to invest your money.

Tax Refund

Every time you get money back from your taxes, put that into a savings account or CD. That extra money can add up over the years, so you’ll be happy to see how much your retirement funds have grown when you look. IRS Form 8888 allows you to directly deposit your tax refund into up to three different saving or investment accounts, including an IRA.

Small Business Investment

Finding a business to invest in and make a return on is an option for saving. Use your time before retirement to find different ways to make money for it. You don’t have to become a business owner – just a silent investor if you’d like. Small business profits are not capped and the potential return on investment is therefore higher than other alternatives, but remember that the risk can be higher too.

Stay focused on your retirement savings goal so you can be prepared as you get closer to that age. The above items are all safe and simple ways to save for your future. Utilize one of a few of these options today by stopping by our bank! We’d be happy to talk you through what we have to offer!

 

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender