Target had a data breach. Criminals potentially stole millions of credit card and debit card numbers. I have a Target RED card debit card. I used it at Target during the time period of the breach. Am I worried?
No, because the Target RED card debit card is the most secure among all cards affected. It can only be used with a PIN. There’s no way to use it as credit without a PIN. PINs weren’t stolen. From Target’s notice:
We have determined that the information involved in this incident included customer name, credit or debit card number, and the card’s expiration date and CVV.
Note the PIN is not among the items listed. It’s much harder to steal the PIN systematically because the PIN is hardware-encrypted by the payment terminal. The plain-text PIN does not come out of the hardware.
In addition, the Target RED card debit card can only be used at Target. When criminals have millions of other cards that can be used anywhere in the world, I bet producing a card that can only be used at Target is pretty low on their priority list.
I read these interesting articles this week:
Can I Do a Partial 401(k) Rollover? by Michael Piper at Oblivious Investor
Yes you can if the situation calls for it. Usually it’s better to just leave the whole thing there or take the whole thing out to your own IRA or new 401k.
How Do I Build a TIPS Bond Ladder for Retirement Income? by Wade Pfau at Wade Pfau’s Retirement Researcher Blog
Great info on how to build a TIPS bond ladder that takes into account the interest payments from the bonds. Professor Pfau was kind enough to recommend my book Explore TIPS. I’m surprised to see you can produce a 4% inflation-adjusted withdrawal for 30 years with 100% TIPS.
Four Important Points about PenFed’s CDs and IRA CDs by Ken Tumin at DepositAccounts.com
Great points about those PenFed CDs. When my CDs mature in December 2018 I will review their performance versus bond funds.
Health Savings Accounts: Defer Reimbursement But Keep Receipts Forever by Jonathan Ping at My Money Blog
I don’t do it. I just reimburse myself once a year and forget about it. The small amount I spend on health care every year isn’t worth carrying forward for many years.
7 Reasons I Don’t Use Target Retirement Funds by Jim Dahle at The White Coat Investor
I don’t use them either but they are not that bad. I think it will be an improvement overall if everyone uses them.
Mortgage Gift Letters: How to Create a Proper Paper Trail by Michael at Financial Ramblings
I think if you give the gift early enough you can skip the paper trail documentation.
Why Qualified Charitable Distributions From IRAs Are Often Not Best For End Of Year Contributions by Michael Kitces at Nerd’s Eye View
I agree. It’s good for people who don’t itemize deductions though.