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
Bu hikaye Kiplinger's Personal Finance dergisinin June 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Kiplinger's Personal Finance dergisinin June 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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.
GUARD AGAINST IDENTITY THEFT IN THE NEW YEAR
Scammers are getting better at impersonating legitimate businesses.
SHOULD YOU BUY PET HEALTH INSURANCE?
You can fend off big veterinary bills with a policy that covers your furry companion.
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.
HOW COUPLES CAN MANAGE DIFFERING RETIREMENT TIME LINES
Staggered retirement is increasingly common, but it can create financial and emotional challenges.
AVOID THESE CREDIT MISSTEPS
KIPLINGER ADVISOR COLLECTIVE
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.
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%.
WHAT MAKES AN ETF SUCCESSFUL?
EXCHANGE-traded funds have exploded in popularity, with the industry now reaching the milestone of $10 trillion in assets.
TIPS FROM INSIDERS
When corporate insiders buy or sell, it can offer clues on whether you should do the same.