Baby Boomer Finance – Passwords

Welcome to this weeks edition of Baby Boomer Finance – Passwords

Show Notes:

Passwords, why do we have them?  To keep certain information private.  To keep unauthorized individuals out of our bank accounts, investment accounts, paypal account .  We use passwords online and offline.

Let's look at the most common password – your ATM password.  To access your money you need your card and password.  If you lose your card, only your password protects it.  Yes, it you report it lost in time, you are usually protected.  But how good is your password?

I came across an article by Bill Myers that states a computer could take less than 2 seconds to crack a 4 character password.  How long is your password?

If your password is 8 characters long and contain at least one number and one special character such as &, *, %, it will take up to 200 years to crack.

And don't use birthdays or your child's, pets or favorite sports teams name.  That's what they will try first.

If your passwords are less than 8 characters long and do not contain at least one number and one special character, change them immediately before it is too late.