Christmas will arrive in two days. The phone is very quiet and email has become almost non-existent as clients, friends, and business associates prepare for Christmas. Sheri and I attended our last holiday party on Tuesday and we’re now finalizing our preparations to spend time with our kids and 8 grandchildren. It promises to be a wonderfully noisy time filled with plenty of hugs, laughter, stories, gifts, and too much food.
At the end of each year, there are several articles and blog posts published on end of year financial planning and moves to make. Some are written to address end of year tax moves you can take now, while others address items to rebalance your portfolio better, open an IRA, and improve your financial position now and in 2017.
The Takata airbag recall been going on for a couple of years now. It began to take off when the New York Times reported the company was aware of a dangerous defect with its airbags. 11 days later, the National Highway Traffic Safety Administration called for the recall to be expanded nationally from states with high humidity such as Florida, Georgia, South Carolina, and along the Gulf Coast states.
I am talking with a prospective client who’s buying a condo later this month. She was unware of an option on the condo insurance quotes I prepared for her which is important because her new home has a mandatory Home Owner’s Association for the complex. In fact, regardless of whether you own or are buying a home, town house, or condo with a mandatory HOA, this one option should be included with your home insurance. It’s loss assessment coverage and it can save you thousands of dollars.
Earlier this year, the Department of Labor released a ruling subjecting all financial advisors who provide investment advice for retirement accounts to meet a fiduciary standard. What has been interesting to watch are the reactions from both the insurance industry and those in the investment broker and advisor community.
A client sent me an email asking me to quote a builder’s risk policy for a barndominium she and her husband are planning to build. I haven’t watched HGTV’s Fixer Upper series, so I called her to find out what a barndominium is, as well as to ask her the questions I needed answered to quote a builder’s risk policy for them. After finding several builder’s risk policy options for them, I began researching what companies will write a barndominium insurance policy once the construction is complete.
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