A hurricane can wreck your financial plan. How you can protect yourself.
Charles Sachs, Chief Investment Officer at Kaufman Rossin Wealth, has provided his insights to Barron’s for the article, “A Hurricane Can Wreck Your Financial Plan. How You Can Protect Yourself”. The article details the importance of having flood insurance in case of a hurricane, with multiple quotes from Sachs outlining the issues homeowners may face when planning to rebuild their homes after a devastating storm.
“It’s one thing to be able to rebuild, but another thing if you work out of your house,” says Charles B. Sachs, chief investment officer for Miami-based wealth manager Kaufman Rossin.
Sachs, a Florida native, notes that multiple factors, from labor shortages to supply chain issues, can delay homeowners’ plans to rebuild after a devastating storm. It also underscores the importance of keeping an emergency fund.
“What if you’re out of a home for a year? The closest office might be a Starbucks down the street. That’s good for a few hours, but not weeks or months,” he says.”
Read the full article on Barron’s.