Most web sites I use allow a password reset through email; a few require two-factor authentication with a phone call or SMS. It would perhaps only be banking or major commerce sites that would require some additional authentication factor.

So having a “Gmail” app on my smart phone (or linking my primary Gmail address to my smart phone) seems incredibly foolish to me. Outside of having a very complex screenlock password, I'm giving anyone who steals my phone access to all of my accounts. (So, in my case, my Android phone is linked to a dummy Google account, which I have only so that the phone will work.)

Is there wise way to have email access through one's phone? Or does everyone just accept that risk?