Are data brokers putting your retirement security at risk?

It's unsettling to consider that, despite our efforts to save for retirement, our personal information could be sold to anyone who wants it, putting our financial security at risk.

Some data brokers collect and sell personal information, including retirement savings data, without our knowledge.

Data brokers are crazy, but don't worry, there are ways to protect yourself. I want to discuss how these brokers operate and provide steps to safeguard your retirement plans.

How data brokers are endangering your retirement security

Data brokers pose a significant threat to your retirement security by buying, selling, trading, and spreading your personal information widely. This endangers your retirement security in three distinct ways, each more dangerous than the last.

1. Spray ‘n’ pray campaigns

Even with limited information, scammers can still reach out to you through your phone number or email address. If they don't know anything about you, they take a generic approach to try and get you to respond or click on a malicious link. Once they gather more information about you, they can customize their tactics to increase the likelihood of success.

2. A fire hose aimed in your general direction

Scammers can purchase pre-made packages of personal information from data brokers, which may include only the phone numbers of people over the age of 60 or the addresses of elderly individuals who require live-in care and are experiencing cognitive decline. This information can be used to target dangerous and effective scams at individuals without their knowledge of their names.

3. A water pistol to the ear

Beware! Scammers can obtain shockingly detailed information about you, including your full name, health care, and financial information, making them the most dangerous type of scammer.

Identity theft is the ultimate fraud, and these three types of scams are more likely to lead to it in fewer steps than the others.

What you can do to protect your retirement security

By preventing data brokers from facilitating scam targeting and equipping yourself with knowledge on scam tactics, you can significantly reduce the risks involved.

Consider using a reliable personal data removal service to prevent data brokers from spreading your information. Although no service can guarantee complete removal, it's a good option if you want to automate and monitor the process of removing your information from numerous websites over an extended period. Check out my top recommendations for data removal services here.

Stick to the golden rule of never clicking on links, even under pressure or stress. To confirm what's happening, always go to the source of the communication via official channels from a secure device. The best way to safeguard yourself from malicious links is to have antivirus software installed on all your devices. This protection can also alert you to phishing emails and ransomware scams, keeping your personal information and digital assets safe. Get my picks for the best 2025 antivirus protection winners for your Windows, Mac, Android and iOS devices.

Be cautious with personal information: If a message or email can pressure you to do something you shouldn't (like click on a phishing link), imagine what a phone call can do. Any request for personal information should raise red flags. If something seems off, hang up.

Before giving out personal details or money, always verify the identity of the person you are dealing with. If someone asks for this information or claims they need to send you money, follow the rule: "Hang up, look up and call back." This applies to phone calls, texts, and emails. Set the message aside, find the legitimate contact information for the organization, and reach out through official channels to confirm the request.

Kurt’s key takeaways

It's astonishing how much of our personal information is out there in the digital world. However, we are not helpless in this situation. Although it may seem overwhelming, there are steps we can take to safeguard ourselves and our retirement savings. It's all about being aware, staying vigilant, and utilizing the resources available to us. Remember, your financial security is something worth fighting for. Instead of simply hoping for the best, let's take action and demonstrate to data brokers that we are not easy targets. After all, we have worked hard for our golden years, and no one should mess with that.

What are your thoughts on regulations to limit data brokers' activities, and what specific measures would you like to see implemented to safeguard your personal information? Share your thoughts with us at Cyberguy.com/Contact.

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