Not to get all soap-boxy, but all cell phones are a privacy risk. You can be tracked via GPS, the phone can be turned into a microphone/camera remotely without you knowing about it, and you can bank on everything you say on it being monitored and/or recorded somewhere.
I refuse to carry a cell, not just because of the privacy concerns, but because I refuse to be available 24/7. I've only had one cell in my life, and that was assigned to me by a job that I ended up quitting because I wouldn't take the phone off my desk. Ever.
When I'm off the clock, I am off the clock.