Can freezing my credit help protect me from identity theft?
The short answer is yes, but only if you don't need to access your credit! While this doesn't apply to everyone, a lot of the clients we work with at Beacon are nearing or in retirement, are debt-free, and have savings and financial plans to cover unexpected expenses. So, in the case you don't need your credit on a day-to-day basis and have no plans to use it in the near future, freezing your credit can be an option to help prevent online scammers from accessing your identity to open fraudulent accounts or lines of credit in your name.
Financial Advisor and Beacon Capital Management EVP, Dan Benson, CFP®, goes over how you can freeze your credit if that is something you are interested in, by contacting the 3 leading credit agencies: Equifax, TransUnion, and Experian. Again, this does not apply to everyone, so make sure this strategy makes sense for you.
Another way to help prevent identity theft is to shred and properly dispose of your personal documents.
Beacon Capital Management puts on a FREE Annual Shred Day event at our office on the 1st Saturday after tax day! Yep- every year at Beacon Capital Management, 751 Cool Springs Blvd, Franklin, TN 37067.
👉 Find out more about this event here: https://beaconcm.com/event/shred-day-...
While we would love to see you at our free Shred Day event, these events are held in communities across the country. Look for one in your area!