Making your social media updates private or limiting them to your closest friends will not help anything. Internet is basically open - as it has always been. Nothing is 100% secure.
Because of social media every one knows what you like, what is your home town, what is your mother's maiden name, your first pet and the web shops you use. Probably your ISP, bank and insurance company are also known by the "tweets" of your feedback and claims. Your pictures tell where you are where you have been and what is important to you. Now, because of the newest "circular letter" #myfirstsevenjobs, your first job is also known. There is only very little what is NOT known.
All this information defines your digital identity. It can be easily accessed and even more easily stolen. Your password can be reset and your account stolen - from every account you have. This can happen to all of us.
Please take care of your personal information and remember what you post to social media.
Your friendly herald of cybersecurity