Archive for Real Estate
Life Insurance Companies on Youtube Now
Posted by: | CommentsBecause of the heightened awareness and marketing of annuities (likely in reaction to volatile stock markets and low bank yields) it was only a matter of time before this happened. Allianz (FYI: company that I am appointed with to do business) created a Youtube channel. I’m sure a few other financial companies have Youtube channels but I’m sure it’s still early in this game:
Here’s one of their videos:
This is not an advertisement for Allianz or for me- just posted for informational purposes. Perhaps it could provide some background information for readers…
Hurricane Got You Worried? Risk Management with Insurance
Posted by: | Comments“You don’t know the value of proper financial (legal, tax, insurance etc) planning until it’s too late…”
I can’t tell you how many times I have told this to potential clients. I will be in a meeting with someone who’s interested in hiring me to be their advisor. And we inevitably end up discussing a tragic story about someone they know. And that story typically illustrates the downside of lack of planning – whether it’s for retirement income, a tax bill, a legal mishap or an insurable risk.
The recent hurricane revealed some not so nice statistics. Reuters recently reported that 1/5 homes is not insured enough to rebuild in case of
from Reuters
disaster: Reuters
That means that if a tragedy totally destroyed your house, chances are 20% roughly that you are covered to rebuild. Unfortunately, with the enormous cost increases for basic resources (wood, copper, etc), that number may be higher. Also, true replacement cost on insurance policies has been modified in some instances.
What should you do?
I recommend you get a full insurance/risk review with a competent professional. Rebuilding cost is just one area to make sure of. Others include general liability, damage to property caused by your recklessness (potentially:), health risk etc.
In the case of rebuilding cost, it may be helpful to seek out a solid home building contractor and get an estimate for a full rebuild of your house – one with no shortcuts! That number can give you a starting point to plan your insurance. Give that figure to your insurance professional for reference.
A Good Way to Track National Pension Issues
Posted by: | CommentsIn the past, I had Pension Tsunami as a resource link on my site, but when I cleaned up the appearance of my site a few months ago, I took the links off.
However, it doesn’t mean that those links weren’t good resources. I re-recommend that you visit PensionTsunami.com if you’d like to keep up with pension & local government budget issues online. The site is put out by a taxpayers group in
Wisconsin union protests - source: Politico.com
California called The California Public Policy Center, so they have an opinion in this debate. But that doesn’t mean this is not a good summary of the issue.
They have a daily email update or you can go to their website. They have alerted me to pension and budget problems in many smaller towns – stories that did not make national headlines until months later. It’s helped me to formulate advice to my clients to investigate the city you’re considering a home purchase in. Because if the city/town finances are bad, then your taxes might be heading up – way up, or services might be heading down.
In 2011, a home buyer needs to pay strong attention to the local budget – for personal and investment reasons. If you plan on buying a home, check the local budget.
1. Does the town have a rainy day fund?
2. Is there a solid commercial tax base (think Cambridge, MA as the gold standard in that department with a fairly recession-proof commercial tax base)?
3. Is the mayor creative about budget issues (in my city the mayor worked with teachers to take an across the board freeze or reduction in pay to avoid laying off many – not a bad strategy with few options available and it wasn’t a vitriolic discussion)?
Keep your eyes open to the budget when considering buying and if it looks like it might get worse, consider holding off.
Become Energy Independent at Home (YOUR Home) – Here’s Why
Posted by: | CommentsRead this article and got thinking…
I don’t know about you all, but having a home (or at least a retreat home) that is 100% energy/resource independent is a big “financial planning” and “life planning” goal of mine. I think it not only can be a big money saver, but also reduces our impact on nature. I have to admit to not being a militant environmentalist as I see some things a bit more practically in my opinion. But the benefits of the following amenities to a home:
- -Geothermal heating
from reuk.co.uk
- -Solar electricity/heating
- -Well water
- -Wood stove
Are immense. These ideas reduce or affect your life in the following ways:
- -prevent burning oil & gas
- -prevent gas explosions in your home
- -prevent the need to dig up the whole town for pipes ( can’t avoid in a city)
- - helps us manage use of resources in our area like water and wood (many well owners tend to capture rainwater too)
- -control and prune surrounding wooded areas (burn older dying trees for firewood)
- -cuts costs
And as far as cutting costs: not only Read More→
