CNNMoney.com
Companies Economy International Corrections Pre-market Trading After-hours Trading Winners/Losers/Actives Bonds Currencies Commodities World Markets Money Magazine Real Estate Taxes Jobs Ask the Expert Money 101 Autos Mutual Funds The Help Desk Loan Center Best Places to Live Ask the Expert Ultimate Guide to Retirement Retirement Calculators Best Funds Best Places to Retire Fortune Brainstorm Tech Apple 2.0 Blog Big Tech Blog Sectors and Stocks Tech Talk Resource Guide Small Business Makeovers Questions & Answers Small Business Video 100 Best Places to Launch FSB 100 Fortune Small Business Fortune 500 Brainstorm Tech Investing Management C-Suite Rankings Main Create Portfolio Edit Portfolio Create Alerts Edit Alerts

Prudent or just paranoid

Protecting your money is the smart thing to do. But how do you know when you're being too cautious for your own good?

Stay away from LinkedIn and Facebook. Joining a social network is asking for trouble.
Advice:
Stay away from LinkedIn and Facebook. Joining a social network is asking for trouble.
LinkedIn and Facebook allow you to keep up with former co-workers, associates and clients. And recruiters and potential employers can view your profile without you actively seeking a new position.

To get your feet wet, start with LinkedIn, which is geared toward professionals. Profiles and photos are typically in good taste. Your profile will read like an online résumé, and you can ask and answer business questions, a great way to make contacts.

Facebook requires you to exercise more judgment. Still widely used by college kids to recap last evening's events, it mixes professional and social - for better and worse. Your boss' snapshot may appear on your page next to a questionable photo of a college buddy. (One would hope that that's not a problem once you're past, say, 30.)

You can delete anything inappropriate posted to your page, but that means you'll have to monitor it. You also have control over who can view what information. So become familiar with the site's privacy settings.

Two other notes of caution: First, be wary of the thousands of applications being developed for Facebook. They do neat things like let you set up conference calls and create business cards, but you'll be handing over personal data to developers that aren't screened, warns Jason Alba, who writes about social-networking sites.

Second, Facebook was recently blasted for allowing advertisers to use your purchasing behavior as a way to market to your friends. The company backed off, for now.

The prudent conclusion: Everybody's doing it. Just use your good sense.
Last updated January 17 2008: 5:45 PM ET

Out of stocks

Into gold

Planners

Credit freeze

Social Security

Big brother

Cash stash

Co-owner kids

Logging off
Holographic stockbroker? Maybe not. But these Web sites bring a virtual world of speed, simplicity and intelligence to your financial life. (more)
Money Magazine collected the best advice from some of the smartest investors (and other people) who have ever lived. (more)
Myth No. 1: You need a big income to build a big nest egg. Other myths busted: A million bucks is your magic number and what it takes to retire early. (more)
© 2009 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy
Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.