recurring payments shared host

I have some questions about protection levels.

From wht i understand, if I go with authorize net sim, with the amember recuring payments checked, the members credit card info is going to be on my DB.

how secure is this? I am on a shared host account with Godaddy.
I already have a SSL with my authorize net account. do I need to buy one for my Godaddy account? would this add a higher degree of protection?

I want to be able to sleep knowing that I am not going to be sued.
Is there any other way to protect this info?

I talked to godaddy about the dedicated server, but this is out of my knowledge range (I would need to set up and maintain it).

any help would be great

Joe

if i go with authnet recuring payment option they would store the CC info (correct?) would i be notified weather a member paid, opted out, upgraded etc.. so I could update them manually? is this the safe way? I would rather go with an auto mode on this if i could and be protected.