50 Simple Steps You Can Take to Disaster-Proof Your Finances How to Plan Ahead to Protect Yourself and Your Loved Ones and Survive Any Crisis

by GLINK, ILYCE R.

• ISBN13: 9780609809952
• ISBN10: 0609809954
• Edition: 1st
• Format: Paperback
• Copyright: 2002-05-14
• Publisher: Currency

Summary

The best time to plan for trouble—the death of a spouse, the collapse of a business, the loss of your home—is before you’re overwhelmed by it. This is especially important if you have a family or a small business or are beginning to save for your retirement. But what should you do first? In 50 Simple Steps You Can Take to Disaster-Proof Your Finances, money and real estate expert Ilyce Glink walks you step by step through the things you need to do to protect your family and your money so you can survive any crisis. Topics include:

* Getting organized: What do you have and where is it?
* Banking and credit: The credit, accounts, and emergency cash you need
* Travel: Traveling safer—and for less money
* Insurance and health: How to buy the important policies and save
* Investments: Diversifying to help you weather the tough times
* Family matters: Planning for your children’s and aging parents’ futures
* Estate matters: Wills, living wills, and more
* After the disaster: Finding the emergency aid you need

In her friendly and easy-to-understand style, Ilyce Glink shows you how to avoid the ten most common mistakes people make in planning for their future, helps you add up the numbers with simple worksheets, and guides you to the leading websites for more information. With this indispensable guide, you’ll know you’ve done the best you can do for yourself and your loved ones.

Author Biography

ILYCE R. GLINK’s newspaper column, “Real Estate Matters,” is syndicated nationally. She is the money reporter for WGN-TV in Chicago and a guest host for The Clark Howard Show on WSB-AM in Atlanta. Her books include <b>50 Simple Things You Can Do to Improve Your Personal Finances</b>, <b>100 Questions You Should Ask About Your Personal Finances</b>, and<b> 100 Questions Every First-Time Home Buyer Should Ask</b>. She lives in the Chicago area with her husband and two sons.

Table of Contents

Preface	xi
Introduction	xiii
Getting Organized
Keep a Calendar of Daily Events Updated	2	(4)
Keep Your Personal Address Book Updated	6	(3)
Construct an Emergency Contact List	9	(4)
Construct a List of Assets and Contact Numbers	13	(6)
Keep Your Important Documents Close at Hand	19	(4)
Back Up Your Computer Files	23	(3)
Rent a Safe Deposit Box	26	(4)
Banking and Credit
Buy a Home Safe	30	(4)
Always Keep Cash Around	34	(3)
Build a Substantial Emergency Savings Account	37	(5)
Keep Up with Your Bills	42	(4)
Take Advantage of E-Banking	46	(5)
Keep Some Credit in Your Own Name	51	(3)
Travel
Buy Airline Tickets and Rent Cars with a Credit Card that Offers Free Life Insurance	54	(2)
Share Your Travel Itinerary with Your Friends and Family	56	(3)
Consider Buying Travel Insurance	59	(5)
Insurance and Health
Get Regular Checkups	64	(3)
Evaluate Your Current Insurance Policies	67	(5)
Inventory Your Personal and Business Assets	72	(8)
Update Your Homeowner's or Renter's Policy	80	(7)
Evaluate Your Auto Insurance Policy	87	(4)
Buy Umbrella Insurance	91	(2)
Consider Buying Long-Term Care Insurance	93	(3)
Check Out Your Company's Disability Insurance Policy	96	(3)
Buy Flood Insurance	99	(3)
Consider Buying Earthquake Insurance	102	(2)
Check Out Your Health Insurance Policy	104	(3)
Ladder Your Term Life Insurance Policies	107	(7)
Investments
Actively Manage Your Money	114	(4)
Diversify Your Portfolio	118	(4)
Update Your Beneficiaries in Your Retirement Plans and Life Insurance Policies	122	(4)
Family Matters
Decide Who Will Raise Your Children and How, If You Can't Do It	126	(4)
Decide Who Will Care for You If You Can't	130	(2)
Teach Your Children How to Manage Money When They're Young	132	(5)
Talk to Your Children or Your Heirs About Your Money	137	(4)
Set Financial Rules Before Your Children Go to College	141	(5)
Estate Matters
Develop an Estate Plan	146	(5)
Write a Will and Sign It	151	(3)
Sign a Living Will	154	(2)
Sign a Power of Attorney for Health Care	156	(2)
Sign a Durable Power of Attorney for Financial Matters	158	(3)
Consider Putting Your Assets into a Living Trust	161	(3)
Make Your Funeral Plans	164	(6)
After the Disaster
Don't Be Afraid to Ask for Help	170	(5)
Gather Your Important Documents	175	(4)
Start Making Your Calls	179	(4)
Don't Make Immediate Financial Decisions with Long-Term Consequences	183	(3)
Spend a Few Hours with a Fee-Only Financial Planner	186	(5)
Don't Take Hot Tips from a Cold Call	191	(6)
Go Back to Work	197	(2)
Appendix 1: Ten Financial Mistakes We Make After a Disaster	199	(6)
Appendix 2: Helpful Financial Web Sites	205	(2)
Glossary of Terms	207	(40)
Acknowledgments	247	(2)
Index	249