Financial Opinion and Insights

Do You Have A Disaster Plan?

Jim Lorenzen, CFP®, AIF®

Jim Lorenzen, CFP®, AIF®

Few people do.

It’s one of those things we all say we’ll get around to doing, but it never seems to happen.

Free advice (does anyone EVER take advice when it’s free?).  Put it on your calendar, just like a doctor appointment, and schedule a couple of hours.

Next, here’s a list of things you should onto two CDs, courtesy of Money magazine.  Keep one at home and one in a safe-deposit box:

  • Driver’s licenses & passports
  • Social Security cards
  • Health insurance cards
  • Insurance policies
  • Mortgage and other loan papers
  • Property deeds
  • Car title and registrations
  • Marriage license
  • Wills and trusts
  • Last year’s tax return
  • Bank and brokerage account numbers

To Money‘s list, I would add an Excel spreadsheet of

  • All important web URLs, IDs, passwords, including security questions and answers
  • All important software access codes, passwords, etc.
  • All important contacts names, email addresses and phone numbers (doctors, attorneys, advisors, insurance agents, etc.)

My spreadsheet has three tabs:  Personal, business, and legal. 

Disaster recovery isn’t just about your house maybe burning down.  It’s also about helping your spouse and children if something happens to you.

What better gift at Christmas?  If the worst should ever happen, you and your family will find none better.



Jim Lorenzen is a Certified Financial Planner® and an Accredited Investment Fiduciary® in his 20th year of private practice as Founding Principal of The Independent Financial Group, a fee-only registered investment advisor with clients located in New York, Florida, and California.   IFG provides investment and fiduciary consulting to retirement plan sponsors and selected individual investors. Plan sponsors can sign-up for Retirement Plan Insights here.  IFG does not sell products, earn commissions, or accept any third-party compensation or incentives of any description.  Nothing contained in this material is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment to the individual reader.  The general information provided should not be acted upon without obtaining specific legal, tax, and investment advice from an appropriate licensed professional.

Written by Jim Lorenzen, CFP®, AIF®

November 30, 2011 at 8:00 am