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Thinking about setting up a dedicated "secure PC" in my house.. Thoughts?

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mouser:
Lately I've been thinking that the price of laptop/netbook PCs is cheap enough to warrant a dedicated "secure PC" in my house, and wanted to get some feedback and exchange ideas with others about this concept.

Essentially what i'm thinking is this:


* The purpose of this PC would be to connect to my financial accounts (bank, creditcard, paypal), and to do logins on the servers (and websites) i work on that i have a dangerously high level of access to (ie root access, etc.)
* It would be a PC for which security is the top most priority - with the absolute bare bones software installed on it, always kept fully updated religiously, left OFF most of the time, only connected to the web when needed.
* No plain text passwords stored on it -- but instead a good encrypted password manager.
* Might use full drive encryption so that even if stolen, the data would not be accessible.
* This PC would not be used for general surfing, houseguest use, etc.
In summary, what i'm thinking is splitting off all of the things i do on my main PC that require a sensitive login, and putting those on a separate laptop PC which is used for no other purpose and would thus be much less likely to be vulnerable.

Thoughts?  Anyone else already do this?

mouser:
One way to do this that would not require a separate laptop, would be to set this up as a virtual machine instead of on a physical device.

stitched:
I have found some amazing deals with off-lease computers.  Ubuntu, Linux Mint or another easy *nix might be suitable for you for these purposes.   :)

mouser:
what is "off-lease" ?

stitched:
When the IT Dept gets rid of computers they either trash the hard drive and throw them away or give them to a recycling computer company to hipe the HD and resell them.  You should look into it.

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