When a catastrophe occurs (forest fires, floods, hurricanes or a domestic fire), planning and preparation are essential. You will not necessarily save your home or your belongings from a catastrophe, but it could help you recover faster and perhaps with a little less stress.
California’s forest fire stories were heartbreaking. People ran to save their lives, often only with the clothes they were wearing and with their pets. In addition to the loss of lives, many other people lost everything when their houses burned to the foundations: family photos, jewels, relics, family memories and much, much more. Some were not safe, without having any blame. Others were auctioned.
“When I think of natural and financial catastrophes, there are really two paths that we can consider,” says Emily Irwin, director of the Wells Fargo Bank advice center. “The first is, how do you prepare as a human being and make sure you take care of your loved ones? And then the other way is to deal with the ramifications, both practical and financial, of the effects that this catastrophe has in his life.
“For example, it is about making sure that if you live in an area where you think there could be a hurricane, a tornado, a forest fire or something of that nature, it is always prepared and prepare a plan before that something happens, ”he says. “Because when he acts under pressure, of course, it is incredibly difficult, if not impossible, to have a clear mind and the clear approach.”
Start with a fire box or igniphed box
“It is very important to have a waterproof and igniphed box that can be easily accessed,” says Irwin. “Ideally, those documents were in their backpack, so, if I had to go out quickly, I could take them …”
“One of the things that I ask my clients who live in disasters -prone areas, such as hurricanes, is if they were only 30 minutes to gather all those important belongings and information, what would they take?” Says Karen B. McIntyre, Wescott Financial Financial Advisory Group Financial Advisor in Philadelphia, Pennsylvania. “Sometimes they are sentimental objects and, sometimes, the purely financial or commercial aspect of life.”
This could include insurance policies (life, health, housing and automobile), passports, birth certificates, legal documents and bank information and credit cards.
“I have suggested to all our clients who maintain electronic copies of everything they can, be they photographs, copies of credit cards, passports, etc.,” he says. McIntyre says that his firm has a safe portal where customers can load their private files to which only they have access. “Some people carry copies of passports, birth certificates, marriage licenses, divorce decrees, legal documents, such as testaments, prenuptial and post -supply records, business copies, purchase contracts, such things.”
A key contact list
McIntyre says that he also suggests an important contact list, not necessarily a printed list, but something that can be stored on his phone. That list, he says, would not only include friends and family, but also the contact information of insurance and doctors agents.
An emergency bag
It may seem taken from a spy movie, but Irwin says that his colleagues suggest carrying a bag prepared to take that is always ready. “They do not expect it to be a fire season and they already have their supplies. It includes an additional batch of medications, for example, batteries that may need, additional telephone loaders and any type of essential medical documents that would also need to have. ”
A communications plan
“Whether you have a family with older or younger generations as part of that family, children who are minors, children who are young adults, perhaps older parents who are taking care of, how are you going to communicate?” Asks Irwin. “Who will be the point of communication? Easy and simple. That way, there is a point of contact, and that person can advance in the chain and ensure that there is a kind of security verification list among the family. ”
Plan for an emergency shelter
Make plans for your emergency shelter as possible, says Irwin. “It is not always possible. The natural catastrophes that can be forecast, such as a hurricane, are probably more possible than something like a tornado or a forest fire. Even so, it is important to understand where to seek refuge and make sure you have the funds reserved for gasoline, flights, the hotel, in case of an emergency situation to which you have to resort immediately. ”
Emergency Fund for Catastrophes
While a three -month salary is suitable for an emergency savings fund, you could consider an emergency catastrophe fund in which you have a few thousand dollars sections that are immediately accessible and available, says Irwin.
Insurance policy review
McIntyre says that it is a good idea that his financial advisor or insurance advisor periodically reviews all his insurance coverage. “There could be a significant increase in the value of your personal items,” he says. “If you have collection objects or jewelry, it would be a good idea to assess them periodically to determine if coverage is necessary. Someone should check their assets, along with their insurance policies, to determine that everything is as it should be. “It gives you the opportunity to say: I have a work of art that I did not even think about applying and potentially ensure, and make sure you have coverage in case of fire, if it is damaged or stolen.”
Do you want more tips?
Is it prepared if a catastrophe occurs? Join Senior Planet on March 14 for a session on “Technical Councils for preparation against catastrophes.” There are more here information, along with him brochure of the session.
Shift
Have you overcome any catastrophe? Share your experience and advice in the comments!
Rodney A. Brooks es A journalist and author. Former Editor in Chief of Finance of USA Today, his retirement columns appear in US News & World Report and Senior Planet.com. He has also written for National Geographic, The Washington Post and USA Today and has testified to the special committee on the aging of the United States Senate. His book, “The Rise & Fall of the Freedman’s Bank, and its Lasting Socio-Economic Impact on Black America” (“The promotion and fall of Freedman’s Bank and its durable socioeconomic impact on American black racial wealth ”). Your website is www.rodneyabrooks.com
The use of any financial advice is under its exclusive criteria and risk. Seniorplanet.org and Older Adult Technology Services do not claim or promise any results or success.
Do you need help to prepare your taxes? AARP Foundation can help you. Find details here.
