Year-End Is The Time To Review Risk - Jordan Dechtman, Wealth Management

United States Business Directory

Year-End Is The Time To Review Risk

By Jordan Dechtman, Wealth Management

11/18/2010 Start the new year off with some peace of mind with an insurance checkup. Today we will take a closer look at homeowners insurance, an important component of your holistic financial picture.
Has your homeowners coverage kept up with your home’s value? Rising construction costs in some areas have resulted in some homes being underinsured. Guaranteed replacement cost coverage insures the home for the full cost of rebuilding. An inflation guard feature may not be enough, as construction costs may increase faster than inflation, leaving you at risk if your home is completely destroyed. Also verify the square footage of your property and document the interior and exterior condition of your home, especially if you have made improvements or additions.
Your homeowners policy also covers the contents of your home. Document with photos or video important items like jewelry, tools, artwork, appliances and electronics. Rare items like antiques, artwork, jewelry and coins may need an appraisal to ensure you get a fair replacement value. If you own a condo or townhome, you made need additional coverage for personal property beyond the association’s policy.
Home-based business owners often assume their homeowners coverage also protects assets owned by the business. It’s best to double check by making an inventory of equipment and furniture. If your home is destroyed, you’ll be out of work for a period of time. A home-business endorsement can also cover that loss of income.
We’ve only covered homeowners insurance, but now is a great time to review your auto, umbrella liability, disability and life policies. We can work with you and your insurance professional to make sure you have the most effective coverage to protect your wealth. Call your personal financial advisor, Jordan, at 303-741-9772, email him at Jordan@JordanDechtman.com or visit our website at www.JordanDechtman.com to schedule a review of your situation.

About This Author

Jordan Dechtman, Wealth Management

A strong relationship with a competent, caring and thorough independent investment advisor is the best way for you achieve your most important financial goals. At the same time, you want the convenience and comfort of world-class client service. Jordan Dechtman Wealth Management structures its busin…

More Articles From This Author

Let The Shopping Begin!

11/28/2010 The flip side of your saving and investing plan is your spending plan – otherwise known as your budget. Few things challenge our best expense-control intentions than the holidays and the desire to give our loved ones, our community and ourselves the warmest, brightest and most abundant holiday... Read More »

Important Tax Deadlines

11/09/2010 It’s almost time to throw away that 2010 calendar. As you put birthdays, anniversaries and other important dates on your new calendar, you might want to include reminders about certain retirement tax deadlines throughout the year.Dec. 31, 2010 – You might want to note this reminder befor... Read More »

Heirs Can Be Ill-Prepared to Receive an Inheritance

11/09/2010 A 2007 survey by Putnam Investments found that most people who inherit money or property had no previous indication they would receive anything from a relative or friend’s estate, and less than 20 percent knew what to do with it when they did receive it.The World War II generation, parents of... Read More »

Working Longer Has Its Benefits

10/29/2010 The number of retirees feeling “very confident” that they have sufficient assets to maintain their lifestyle in retirement has dropped by approximately 50 percent in the past two years, from 41 percent to 20 percent, according to the 2009 Retirement Confidence survey from the Employee Be... Read More »

No Cost of Living Adjustment For Social Security Recipients in 2011

10/22/2010 The Social Security Administration announced last week that for the second consecutive year, the nation’s 58 million Social Security recipients will not receive an automatic inflation adjustment or cost of living adjustment (COLA) to their monthly retirement or disability benefits.With unemplo... Read More »

Gift Tax Changes Uncertain

10/15/2010 As the year of no estate tax nears to a close with no action from Congress, we face the possibility that the Bush tax plan will be allowed to play out and the estate tax will return with a vengeance in 2011 with a 55 percent rate and $1 million exemption. That has some Americans thinking about givin... Read More »

Time To Prepare Your Tax Planning Strategies

10/11/2010 The fourth quarter has begun! Time to start getting your financial information in order to prepare your 2010 tax return.As the end of the year approaches, you and your tax advisor will be looking at your earned income, capital gains and losses (realized and unrealized), and other financial informati... Read More »

Your Life Insurance Needs Will Change

09/24/2010 September is Life Insurance Awareness Month, a campaign coordinated by the nonprofit LIFE Foundation in response to growing concern about the number of Americans who lack adequate life insurance protection. According to LIFE, approximately 70 million adult Americans have no life insurance, and most... Read More »

Health Care Costs: Estimating Your Financial Need During Retirement

09/14/2010 Premiums for Medicare prescription drug coverage, known as “Part D,” will increase only about $1 to an average of about $30 a month in 2011, according to the U.S. Centers for Medicare and Medicaid Services. By contrast, AARP reported last week that retail prices for brand-name prescripti... Read More »

Managing The Flow Of Your Retirement Funds

09/14/2010 During your working years, your retirement planning is fairly straight forward. The name of the game is to earn money, set it aside and nurture it to make it grow. Usually, the bigger your pool when you retire, the better. Our job as your financial consultant is to help you find ways to achieve that... Read More »

Your 401(k): Donâ€™t Be Tempted to Borrow From Your Future

09/14/2010 A recent report from Fidelity Investments found that in the second quarter, 2.2 percent of participants in its 401(k) plans took hardship withdrawals, up from 2 percent a year earlier. Of those who took a hardship withdrawal a year ago, 45 percent took an additional one in the second quarter of this... Read More »

Talk With Your Financial Planning Coach About Your Goals For The Second Half of 2010

06/07/2010 If you look at one year as a single game of finances, we’ve reached half-time. Time for a pep talk from your financial coach, a check of your goals and possibly some game plan adjustments for the second half.Retirement: Have you kept your resolutions for paying yourself first by adding to your... Read More »