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Flood insurance is not covered by standard homeowners policies. If you’ve been a client of ours for long, you’ve no doubt heard this before but the point bears repeating. We regularly speak with clients who believe they have coverage under their homeowners policy for damage caused by flood. Rising water from too much rain? Not covered. River or creek overflows its banks? Not covered. Storm surge due to a surprise weather system? Not covered. The good news is flood coverage for homes is available through a separate flood insurance policy, but even this protection has limitations and restrictions. Let’s review…
A buddy of mine messaged me recently asking me whether it was time to worry about his investments. Over the last couple days, the market has apparently taken a big dip – it’s got people like him worried that this might be the big correction that we’ve all been waiting for. His question was, what could he do to minimize his losses. As most of you can guess, I told him exactly what most of us here in the financial independence community preach when it comes to investing – do nothing and stay the course. But what about all of…
My wife and I are currently in the market for a new house. We have plenty of money saved, have a high household income, and after a decade of living well below our means, we think we’re ready to start inflating our lifestyle a bit more (or a lot more if we’re being real). I’m not talking about buying Teslas or a boat or anything crazy like that. But getting a nice house for our family – that’s something we’d like to have at this point in our life. Of course, I’m nervous about making such a big change to…
One of the challenges that I’ve had to deal with during my (admittedly short) investing career is avoiding the persistent urge to tinker. There’s this thing that I think happens to a lot of us as we begin to learn more about investing. We start devouring a lot of information and get a handle on what we think is the best way to invest. Then we digest more information – which starts to add complexity and various nuances to what we initially thought. Eventually, we start second-guessing ourselves, which leads us to tinker some more with our money. You see…