Financial Readiness Checklist for Hurricane Season
Hurricane season officially got underway on June 1. While many people focus on preparing their homes, it’s equally important to make sure your finances are ready.
That’s because a hurricane can disrupt more than just property. It can interrupt income, limit access to funds, delay payments, and create unexpected expenses. Taking a few proactive financial steps now can make recovery much easier later.
Now is the time to:
- Ensure you have cash on hand
- Review and update your insurance policies
- Digitize and back up important financial documents
- Enroll in online banking and mobile access
- Set up direct deposit for paychecks or benefits
- Talk to your advisor about your emergency fund
Secure Your Home. Protect Your Wealth.
As you think about what you need to do to protect your actual home, it’s also a good reminder to protect the assets and records that may be stored inside your home.
Remember to:
- Inventory valuables for insurance purposes
- Take photos or video of rooms, jewelry, important documents, and equipment
- Store paper statements and legal documents in a waterproof and fireproof safe
What to Do After the Storm
If a hurricane impacts your area, there are several important financial steps to take once it is safe to do so.
- Check in with your advisor. Changes in income, property, or financial circumstances may require updates to your financial plan.
- Track expenses carefully. Keep records and receipts for insurance claims and potential FEMA assistance.
- Stay alert for scams. Unfortunately, financial fraud often increases after natural disasters. Be cautious of unsolicited phone calls, emails, or messages requesting personal or financial information.
Preparing now can help reduce stress and uncertainty later. As hurricane season begins, taking steps to organize and protect your financial life can make a meaningful difference before, during, and after a storm. And if you need assistance along the way, we are always here to help.
