Create a Financial Plan for a NATURAL DISASTER
Kiplinger's Personal Finance|June 2022
You’ll recover more quickly if your important documents are secure.
RIVAN STINSON
Create a Financial Plan for a NATURAL DISASTER

Severe weather is taking a huge toll on the economy—and the finances of families. The U.S. experienced 20 severe weather events in 2021, coming in second behind a record 22 events in 2020. The total cost of the destruction in 2021: $145 billion.

Although protecting your family from nature’s wrath should always take priority, you need to secure your financial life as well. There’s no worse time to lose access to the documents you’ll need to rebuild your life than in the aftermath of a storm. You should have a plan in place before disaster hits because you may not be home when the evacuation alarm sounds.

Robert Persichitte, a certified financial planner and former probate auditor in Arvada, Colo., recalls a case in which a senior citizen lost everything, including his financial documents, when his house flooded. “That’s just informed my thinking since then,” he says.

Persichitte’s neighborhood was evacuated in 2021 because it was in the path of the Marshall Fire—the devastating blaze that consumed more than 6,000 acres and more than a thousand homes. His wife, Carrie, was home and called him in a panic, asking what items she needed to find before she and their children evacuated. Luckily, he doesn’t keep important documents, such as the family’s Social Security cards and birth certificates, in the house, and he told Carrie to focus on getting their children to safety. Fortunately, the Persichittes’ home was left untouched by the blaze.

WHERE TO KEEP CRITICAL DOCUMENTS

Denne historien er fra June 2022-utgaven av Kiplinger's Personal Finance.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra June 2022-utgaven av Kiplinger's Personal Finance.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA KIPLINGER'S PERSONAL FINANCESe alt
HOW INFLATION ADJUSTMENTS WILL AFFECT YOUR TAXES
Kiplinger's Personal Finance

HOW INFLATION ADJUSTMENTS WILL AFFECT YOUR TAXES

We looked at IRS rules for 2025 on everything from tax brackets to how much you can save in retirement accounts.

time-read
3 mins  |
January 2025
GUARD AGAINST IDENTITY THEFT IN THE NEW YEAR
Kiplinger's Personal Finance

GUARD AGAINST IDENTITY THEFT IN THE NEW YEAR

Scammers are getting better at impersonating legitimate businesses.

time-read
3 mins  |
January 2025
SHOULD YOU BUY PET HEALTH INSURANCE?
Kiplinger's Personal Finance

SHOULD YOU BUY PET HEALTH INSURANCE?

You can fend off big veterinary bills with a policy that covers your furry companion.

time-read
2 mins  |
January 2025
THE LOWDOWN ON BUYING A VACATION HOME
Kiplinger's Personal Finance

THE LOWDOWN ON BUYING A VACATION HOME

If you return to a beloved destination again and again, purchasing a home there may be a smart move-but don't overlook the costs and effort that go into it.

time-read
8 mins  |
January 2025
HOW COUPLES CAN MANAGE DIFFERING RETIREMENT TIME LINES
Kiplinger's Personal Finance

HOW COUPLES CAN MANAGE DIFFERING RETIREMENT TIME LINES

Staggered retirement is increasingly common, but it can create financial and emotional challenges.

time-read
7 mins  |
January 2025
AVOID THESE CREDIT MISSTEPS
Kiplinger's Personal Finance

AVOID THESE CREDIT MISSTEPS

KIPLINGER ADVISOR COLLECTIVE

time-read
2 mins  |
January 2025
WHAT YOU NEED TO KNOW ABOUT WORKING FOR YOURSELF
Kiplinger's Personal Finance

WHAT YOU NEED TO KNOW ABOUT WORKING FOR YOURSELF

Whether you're looking for a side gig or planning to start your own business, it has never been easier to strike out on your own.

time-read
10+ mins  |
January 2025
My Top 10 Stock Picks for 2025
Kiplinger's Personal Finance

My Top 10 Stock Picks for 2025

SINCE 1993, I have offered an annual list of 10 stocks with the potential to beat the market in the 12 months ahead. My 2024 selections notched the highest return ever: an average of 48.9%. I beat the S&P 500 index by 10.8 percentage points, and every one of my stocks was up-six by more than 30%.

time-read
4 mins  |
January 2025
WHAT MAKES AN ETF SUCCESSFUL?
Kiplinger's Personal Finance

WHAT MAKES AN ETF SUCCESSFUL?

EXCHANGE-traded funds have exploded in popularity, with the industry now reaching the milestone of $10 trillion in assets.

time-read
2 mins  |
January 2025
TIPS FROM INSIDERS
Kiplinger's Personal Finance

TIPS FROM INSIDERS

When corporate insiders buy or sell, it can offer clues on whether you should do the same.

time-read
4 mins  |
January 2025