If a survey was released to 100 people asking them about their feelings about the pandemic; it would probably sound something like this. “That was a depressing moment in my life and I’m glad it’s over.” Others may say the contrary. “That was a great moment of pause and reflection in my life, and I took on some new skills.” Realistically we will always have a society where a portion feels like the glass is half full while others feel that it is empty. Honestly, no one is right or wrong, it's simply perspective and often the moment in time. One of the common takeaways from 2020 was self-introspection and the idea of creating additional sources of income. Some took the pandemic as a loss while others thought it would be a great game changer for their business. Business owners were taking advantage of everyone being home and online. Those who are well-versed in stocks or the subject of asset acquisition; immediately took to social media to share that information, create courses, and encourage others to invest in their vision. Respectfully, if you were an infant to investing then perhaps your zeal and enthusiasm for the “new” hooked you in. We get it-why let an opportunity pass you by if time is on your side and for many during the pandemic; time was on their side.
However, the fruits of premature teachers are premature students. You will get the crash course in “oopsville” if not careful. The rhetoric of downloading an app or using a particular platform to invest may cause errors if we are not careful. We encourage you to follow the truth not trends. This past week, Robinhood (an American financial services company) used for trading stocks, exchange-traded funds and cryptocurrencies via a mobile app was hacked. According to the CNN article written by Matt Egan, This breach exposed information on millions of customers.
The trading platform said in a statement that the November 3 attack allowed the unauthorized party to obtain a list of email addresses for about 5 million people and full names for another group of about 2 million people. The company said the incident caused a "limited number of people," approximately 310 in total, to have their names, dates of birth and zip codes exposed. About 10 customers had "more extensive account details revealed," Robinhood said, without elaborating.
"We believe that no Social Security numbers, bank account numbers or debit card numbers were exposed and that there has been no financial loss to any customers as a result of the incident," the company said in the statement. After Robinhood contained the intrusion, "the unauthorized party demanded an extortion payment," according to the statement. The company said it "promptly" informed law enforcement but did not indicate whether it complied with the extortion payment demand. Shares of Robinhood were down about 3% in after-hours trading Monday.
We are not sure about your thoughts but knowing trumps belief in our eyes. For example, you want to know you turned off the gas stove before leaving home-not believe you did. You want to know that your doctor successfully completed their medical studies-not believe they did. You want to know your spouse isn’t using retirement funds to buy an island-not believing they aren’t *insert small chuckle*. You want to know your personal data and information is safe.
Our point is we are no longer in the era of belief or assumption that this could never happen to me. You want to remain fully aware of what can happen to your personal data and what has already happened to others. So, are you? Whether your pursuit is to invest online or save for a rainy day, we encourage you to heighten that awareness while remaining proactive.
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At Nine Mile we believe prevention is the best protection. We can help and have the tools and know how to support you.