You know, it’s pretty disturbing when you think about it. We spend our entire lives working hard and save for retirement. Then one day, you discover that a company you’ve never heard of is selling your private information to anyone who wants to buy it. It’s not just alarming. In fact, it could put your financial security at risk.
These companies are data brokers that collect and sell people’s private information, often without us knowing. And get this: Some of them could be exchanging information that could affect your retirement savings.
Crazy, right? But don’t worry, it’s not all doom and gloom. There are things we can do to protect ourselves. I want to talk about how these data brokers operate and what steps you can take to keep your retirement plans safe.
A couple working on their retirement plan. (Kurt “CyberGuy” Knutsson)
How data brokers are putting your retirement security at risk
There’s one major way data brokers are jeopardizing your retirement security, and it’s right there in the name: data brokers buy, sell, trade, and spread your private information far and wide. This jeopardizes your retirement security in three different ways, each more dangerous than the last:
1. Spray and Pray Campaigns
They don’t know anything about you, but they have a way to contact you. Even if a scammer only knows your phone number or email address, it is enough to contact you. If they don’t know who you are or anything about you, they should take the most general approach they can. Their goal is to get you to respond to them or click on a link that leads to a malicious website. Once they learn more about you, they will be able to better tailor your next moves.
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2. A fire hose pointed in its normal direction.
They know what you are like but not who you are. Scammers can purchase ready-made private information packages through data brokers. One set like this might include only the phone numbers of people over 60, for example, while another might provide the addresses of seniors who require live-in care and are experiencing cognitive decline. The potential for abuse is clear. They don’t need to know your name to launch a dangerously effective scam on you.
3. A water gun in your ear
In other words, something aimed directly at you and very difficult to ignore. Scammers can also purchase surprisingly detailed information about you, from your full name to your health care and financial information. These scams are the most dangerous and the attackers know enough about you to get past many of your defenses.
Any of the above types of scams can end in what could be the ultimate fraud: identity theft – but these three are more likely to get there, and in fewer steps, than the others.
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A woman working on her retirement plan. (Kurt “CyberGuy” Knutsson)
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What you can do to protect your retirement security
You can reduce or avoid many of these risks by preventing data brokers from making it easy for scammers to target you and by arming yourself against the most common and effective tactics they use.
1. Invest in personal data removal services: A reliable data deletion service can prevent data brokers from sharing your information. While no service promises to delete all of your data from the Web, having a deletion service is great if you want to constantly monitor and automate the process of deleting your information from hundreds of sites continuously over a longer period of time. Check out my top picks for data removal services here.
2. Don’t click on links: No matter how much pressure or stress a message or phone call puts on you, stick to the golden rule of never following or clicking on links. Always go to the source of communication through official channels from a secure device to confirm what is happening. The best way to protect yourself from malicious links that install malware and potentially access your private information is to have antivirus software installed on all your devices. This protection can also alert you to phishing emails and ransomware scams, keeping your private information and digital assets safe. Get my picks for the best antivirus protection winners of 2025 for your Windows, Mac, Android, and iOS devices.
3. Don’t reveal wise information: If a message or email can put you under enough pressure to do something you shouldn’t (like follow a link to a phishing site), think about what a phone call can do. Any request for private information should raise red flags. If something seems strange, hang up.
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4. Verify identities before handing over money or information: Always verify who you are dealing with before providing personal information (name, address, date of birth, Social Security number, financial information, etc.) or money. If someone asks you for this information or claims they need to send you money, follow this rule: “Hang up, look, and call again.” This applies to phone calls, text messages, and emails. Hang up or set aside the message, find legitimate contact information for the organization in question, and reach out through official channels (not social media) to confirm the request.
A man counting cash and working on his retirement plan. (Kurt “CyberGuy” Knutsson)
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Kurt’s Key Takeaways
You know, it’s crazy to think about how much of our private information is out there, floating around in the digital world. But here’s the thing: we are not powerless in this situation. Sure, it can be overwhelming, but there are steps we can take to protect ourselves and our hard-earned retirement savings. It’s about being aware, staying vigilant, and using the tools we have at our disposal. Remember, your financial security is worth fighting for. So let’s not just sit around and hope for the best. Let’s take action and show those data brokers that we will not be easy targets. After all, we’ve worked too hard for too long to let anyone ruin our golden years, right?
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Do you think there should be regulations to limit the activities of data brokers and what specific measures would you like to see implemented to better protect your private information? Let us know by writing to us at Cyberguy.com/Contact.
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