Your Money: February

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Protect Your Castle by Building a Moat

By Karen E. Stawicki

When we seek financial advice, we get information as well as opportunities to buy stocks, bonds, mutual funds or annuities. In addition, we are encouraged to put money away in a variety of retirement accounts and to spend within our means. But protecting our assets with adequate insurance is yet another vehicle to secure financial independence that is often overlooked. 
    The problem is that we live in a very litigious world, and I assure you, at the first chance to take from you something that they think they deserve, some people will pounce. So how do we protect ourselves from the “what if” ? 
    We liken this to building our castle. Think back to medieval times. What did kings do to keep the invaders, raiders and marauders from tearing down the castle walls? They built moats and sometimes filled them with alligators. For castle Protect Your Castle by Building a Moat By Karen E. Stawicki protection today, we fill our moats with paper. Auto policies and homeowner’s disability, medical and life insurance are strategically in place to stave off a chip in the castle.
    Here are some things to consider as you review the protective power of your moat.

Do you have enough liability coverage on your cars?
Continued...

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