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January 29, 2008

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If you're not a homeowner, you should have renter's insurance!

what about pet insurance? these days, this is becoming more of a necessity with veterinary medicine making leaps and bounds - things that were once regulated to humans are now available to pets. i just shelled out $2,500 to pay for my best friends treatment for liver failure and I still lost him. That was a serious hit to my savings account. just something to consider.

Identity Theft. Either insurance or just be aware of balances ,personal information ,etc.

Many advisors suggest looking into purchasing LTC insurance in your early 50s. That's when my husband and I both purchased it. My SIL tried at age 55, but by then she had colon surgery (non-cancer-related). She got TURNED DOWN by everyone. You absolutely have to have this insurance in place before you begin to show age-related decline, or they'll just say no.

Our mothers both purchased it and have both used it fully. It saved them many, many thousands of dollars.

I think you should also address that there are some types of risk that are taken when investing. Granted you want to minimize your risk versus your return, but diversification can passively protect you against risk, while learning and gathering information and experience can actively protect you against risk in your investments.

...and index options can protect your portfolio against risk. (not that I do it myself, but I should.)

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