7 Ways to Prepare Your Investments for a Disaster
By Barbara Friedberg, Contributor for U.S. News |July 18, 2018, at 4:23 p.m.
Bob Rubin was quoted about the best ways to get ready before a disaster strikes.
Prepare before disaster hits
Cash is essential in the case of a disaster.
“If credit card readers and ATMs don’t function, then you’re out of luck,” says Bob Rubin, pre4sident of Rubin Wealth Advisors in Boca Raton, Florida. “You should keep at least $1,000 cash in a home safe or a secure location.”
Keep track of your most important financial documents
“You need to keep these dry and readily accessible,” Neal Stern a member of Amerian Institue of OPAs. “That includes driver’s license, birth certificate, passport, social security card, insurance, and banking.”
Use available technology to prepare
Download apps like FEMA.gov which will help you stay in touch with first responders and document issues in your area.
Scan and store your financial documents in the cloud
Make sure you have a digital copy of everything when you prepare your investments for a disaster
Know what your insurance policy covers
Earth, wind, and fire may not be on your policy. Make sure flooding is covered if you’re in a hurricane area.
Know what you own
Have a list of any physical possessions you value. Better yet make sure you have appropriate insurance for jewelry or art.
Watch out for scammers
Last but not least. Before and after the storm hits, make sure you are dealing with reputable companies.