When Nature Strikes: Are You Covered?

Most of us live in blissful denial about natural disasters — until the unthinkable happens. But here's what separates those who recover quickly from those who struggle for years: having a solid financial strategy in place before catastrophe strikes. Financial planner Scotty McDonald, CFP®, CSLP®, joins us to go beyond basic emergency funds to explore in-depth wealth protection strategies. We discuss the nuances of insurance coverage gaps that could leave you vulnerable and the importance of maintaining adequate liquidity during crisis situations. If you'd rather not get financially steamrolled by Mother Nature, this episode's packed with real, actionable advice that could save your bacon when things get ugly. Key moments: (11:24) Have cash on hand and enough savings to cover your insurance deductible (17:06) Your basic homeowner's policy won't cover wildfire, flood, or earthquake damage costs (21:56) Umbrella insurance adds extra liability protection when your main policy maxes out (30:25) Planning ahead for financial disasters removes stress when emergencies happen There's no one-size-fits-all for wealth. Get the plan that fits you. Try SLP Wealth risk-free! Like the show? There are several ways you can help! Follow on Apple Podcasts, Spotify or Amazon Music Leave an honest review on Apple Podcasts