By Gregg Gonzalez, CFP®

At RetireStrong Financial Advisors, we know that protecting your financial health is just as important as growing it. For women and couples 50+, identity theft isn’t just a digital concern – it’s a real-world threat that can disrupt your financial confidence and put years of savings at risk.

Recognizing the red flags early can make all the difference between a quick fix and a financial crisis.

What Is Identity Theft?

Identity theft occurs when someone steals your personal information (like your Social Security number, bank account details, or credit card numbers) and uses it to open accounts, make purchases, or commit fraud in your name.

Criminals have become increasingly sophisticated, using emails, phone calls, and even fake websites to trick unsuspecting victims. But with awareness and vigilance, you can protect yourself.

Common Red Flags of Identity Theft

1. Unexpected Bills or Charges
   You receive statements for accounts you didn’t open or charges you don’t recognize. Even small unfamiliar transactions can be early warning signs.
2. Missing Mail or Emails
   Bills, bank statements, or official notices suddenly stop arriving. Thieves often change your address or intercept mail to hide their activity.
3. Credit Card Declines or Denials
   Your legitimate card is declined or you’re denied new credit unexpectedly. These could signal that your credit report has been compromised.
4. Collection Calls for Unknown Debts
   If collectors contact you about loans or credit cards you never opened, it’s a strong indicator someone is using your identity.
5. Errors on Your Credit Report
   Accounts you don’t recognize, addresses you’ve never lived at, or inquiries from lenders you’ve never contacted – all are signs of possible identity theft.
6. Unusual Bank Account Activity
   Unauthorized withdrawals, small test charges, or transfers you didn’t make are red flags. Always review your statements closely.

How to Respond If You Suspect Identity Theft

• Contact Your Bank and Credit Card Companies Immediately.
  Freeze or close affected accounts and dispute unauthorized charges.
• Place a Fraud Alert or Credit Freeze.
  Notify all three credit bureaus (Equifax, Experian, and TransUnion) to block further damage.
• File a Report at IdentityTheft.gov.
  The Federal Trade Commission (FTC) provides recovery steps tailored to your situation.
• Update Passwords and Enable Two-Factor Authentication.
  Strengthen your digital security to prevent future attacks.

Protecting Your Identity in Retirement

At RetireStrong, we help clients navigate every stage of financial life including protecting what they’ve built. Identity theft can disrupt retirement plans, drain accounts, and cause stress that undermines peace of mind. We help clients:

• Monitor their financial accounts regularly.
• When asked, review credit reports throughout the year.
• Use secure online tools for managing accounts and sharing information safely.

The Bottom Line

Identity theft can happen to anyone, but awareness and action go a long way toward prevention. By recognizing red flags early, you can safeguard your savings and stay focused on what truly matters… living the retirement you’ve worked so hard for.

At RetireStrong Financial Advisors, we’re not just here to help you grow your wealth – we’re here to help you protect it.

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✅ RetireStrong Takeaway: Stay alert, review your accounts often, and act quickly when something feels off. Protecting your identity helps you stay RetireStrong.