In the good old days, online security used to be more nicety than necessity. For years, I had one 8-digit random password to serve every login need. With developments in hacking technology, the standards for passwords have changed, and a one-size-fits-all password no longer makes the cut. In this piece we’ll challenge our old beliefs about passwords and introduce you to five new powerful password procedures to help you stay secure.

1. Make it unique. Each of your online accounts should have a unique password. Otherwise, if a cyberthief breaches one account, they’ve effectively breached them all. Don’t make it easy for them.

2. Stay sane with a password manager. Unless you are a master memorizer, assigning unique passwords to each login is a tall order indeed. Solution: install a top-of-the-line password manager. This handy tool will help you to store, and even generate strong passwords. Here’s an independent review of available providers to get you started.

3. Lead with length. Remember those 8-digit passwords we talked about? There are random generators out there that will decode 8 characters in a computerized heartbeat. Instead, passwords should be 16 or more characters long.

4. Words are welcomed. It used to be a no-no to use dictionary words in a password. This is now considered okay, as long as the string meets the 16-character suggestion. Bonus points if you include a sprinkling of numbers, symbols and cases. For example, a semi-legible password like April48+greenGoose12% is probably equally as strong as an entirely random string like F8*tjE#378FpP6Jm#@4.

5. Change it up, often. Once your password game is strong, it’s best to routinely change them. Quarterly is ideal, and the password manager can help. Schwab conveniently prompts you when it’s time to change theirs, as do many other financial institutions.

How else can we assist you with your cybersecurity? Send me your questions … I’m on patrol!

Warren Buffett has now been in the business of running Berkshire Hathaway for 53 years, and counting. In his newly released 2017 letter to shareholders, he reminds us why his name has grown over those years to be nearly synonymous with sound business practice here in America and as a master communicator of the money world.

As usual, his latest letter is filled with advice worth heeding. First, as we previewed in December 2017, Buffett shared the final results of the 10-year bet he placed against hedge funds. He won so dramatically that his opponent threw in the towel last May, before the decade was even through. Reflecting on his win, Buffett wrote (emphasis ours):

The bet illuminated another important investment lesson: Though markets are generally rational, they occasionally do crazy things. Seizing the opportunities then offered does not require great intelligence, a degree in economics or a familiarity with Wall Street jargon such as alpha and beta. What investors then need instead is an ability to both disregard mob fears or enthusiasms and to focus on a few simple fundamentals. A willingness to look unimaginative for a sustained period – or even to look foolish – is also essential.

The wager was all the more telling, in that Buffett often bills himself as a person who avoids unnecessary risks. In this year’s letter, for example, he reiterated:

Our aversion to leverage has dampened our returns over the years. But Charlie and I sleep well. Both of us believe it is insane to risk what you have and need in order to obtain what you don’t need. We held this view 50 years ago when we each ran an investment partnership, funded by a few friends and relatives who trusted us. We also hold it today after a million or so ‘partners’ have joined us at Berkshire.

Exactly. This is our perspective at HIG as well. Take care of your clients above all else. Help people focus on their own goals and the financial fundamentals – regardless of what’s hot and what’s not in trending techniques. Excel at these essentials, and the rest will likely take care of itself.

Like most people, we’re pretty busy here at Hill Investment Group. After dedicating ourselves to family, friends, community and career, it’s hard to find extra time for relaxing and reflecting before we find ourselves fast asleep.

Thank goodness for podcasts. They offer energizing food for thought during our morning commutes (Henry), dog walks (Matt), or while sweating it out on a jog (yours truly). We’ve each got our personal favorites, but Guy Raz’s “How I Built This”  podcast is a HIG-wide hit.

For investing, we typically encourage a steadfast – almost stodgy – buy, hold, and rebalance approach to managing the money you’ve made, emphasizing academic evidence over “lucky breaks.” But first, you’ve got to make some of that money, and sometimes that takes luck and skill alike. So we also love the edgy tales of how some of today’s best-known businesses came to be. To name a few:

Southwest Airlines: Can you believe this airline was initially a side hustle for founder Herb Kelleher?

Starbucks: Founder Howard Schultz tells an incredible story about Bill Gates, Sr. (“The” Bill Gates’ dad), and the role he played in saving Starbucks.

Patagonia: Founder Yves Chouinard became a successful businessman despite himself.

The Home Depot – Being fired may have been the best thing that ever happened to co-founder Arthur Blank.

Next time you’ve got a little downtime of your own, why not tune into “How I Built This”?