See other Editorial Articles
Title: Can your finances withstand a weather disaster?
Source:
[None]
URL Source: [None]
Published: May 24, 2007
Author: staff
Post Date: 2007-05-24 00:23:23 by tom007
Keywords: None
Views: 142
Comments: 5
Can your finances withstand a weather disaster? By Marshall Loeb Last Updated: 5/24/2007 12:01:00 AM NEW YORK (MarketWatch) -- Hurricanes, floods, earthquakes, tornadoes and other weather disasters wreak havoc on every part of people's lives, including their finances. Is your family financially prepared in case disaster strikes? Rande Spiegelman, vice president of financial planning at the Schwab Center for Investment Research, says there are several things you can do to protect yourself ahead of time. In addition to the basics -- creating a disaster communication plan, stocking up on food and supplies, securing property -- Spiegelman suggests going over the following checklist: Make sure you're covered. Go over your homeowners or renters insurance to determine whether you are protected if a natural disaster strikes. You may need additional flood or earthquake insurance, so talk to your agent for details. And ask about discounts -- you might be able to secure a lower premium if you take preventive measures to protect your property, like anchoring your foundation or clearing brush and trees away from the house. Make a list of your household possessions. Your video camera isn't just for home movies -- use it to inventory your goods. If you don't have one, take pictures and record a description and value for everything you own. Store your inventory in a safe place that's not your home. Spiegelman suggests updating each year. Create a document evacuation box. While original copies of wills, insurance policies and the like are best kept in a safe-deposit box, keep copies, along with other important documents, in a fireproof, waterproof evacuation box you can grab and go. You can also consider scanning your documents and storing them online. Have cash on hand. Don't rely on ATMs for money if there's an emergency. Keep enough cash to cover a few days worth of expenses.
Post Comment Private Reply Ignore Thread
Top • Page Up • Full Thread • Page Down • Bottom/Latest
#1. To: All (#0)
A good discussion here might be for the contents of a "ready bag", one to carry when things get tought, hurricanes, tornados car wrecks all the mean things that don't happen to us untill they do. Mine is woefully unorepared - I have some foul weather gear in it for out frequent trips across the Texas plains, but a well thought out bag could save us all alot of misery.
Just run a Google search on "bug out bag" and you'll find more recipes than you'll ever need. One for each member of the family is suggested.
America is not at war. The military is at war. America is at the mall and the Congress is out to lunch.
Thanks I'll do that right now. Bug out bag - never knew that was the phrase.
If you need some assistance getting a recipe together, I'm happy to assist. Start with a basic backpackers' rig and add from there. Medication, extra pair of eyeglasses (if needed) - that all needs to be tossed on top of the backpacker's rig. A 4-season tent along with an ECWS sleeping bag is what I got because you never know what time of year something will happen. I also went to REI and just got the biggest most bombproof expedition backpack they had. It doesn't all fit in there, but it does fit in the backpack plus a duffel bag and a couple of ammo cans.
America is not at war. The military is at war. America is at the mall and the Congress is out to lunch.
I no longer use bank's safety deposit boxes, otherwise, this article is spot-on correct.
"The penalty good men pay for indifference to public affairs is to be ruled by evil men" Plato
#2. To: tom007 (#1)
#3. To: mirage (#2)
bug out bag" and you'll find more recipes than you'll ever need.
"The penalty good men pay for indifference to public affairs is to be ruled by evil men" Plato
#4. To: tom007 (#3)
#5. To: tom007, mirage, all (#1)
Top • Page Up • Full Thread • Page Down • Bottom/Latest