Category Archives: Insurance

Why I Don’t “Bank on Yourself,” and You Shouldn’t, Either

First, I don’t think “Bank on Yourself” is a scam, I think it’s a terrible, terrible deal.  Here’s my understanding of how the “Bank on Yourself” concept is supposed to work (abridged version)*: You create a financial plan with an … Continue reading

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Required Reading About Healthcare

As a financial planner, I talk to people about saving up for emergencies, and having adequate insurance coverage.  There are situations where all the prudent planning in the world won’t help you.  We don’t talk about it much, because it’s … Continue reading

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It’s Not Health Insurance!

There’s been a movement, lately, away from traditional health insurance and toward alternative payment arrangements.  Sometimes these newer systems end up being spoken about as if they are a replacement for health insurance.  Let’s look at a newer system that … Continue reading

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You May Have More Than You Think – Renter’s Insurance

“Why would I NEED renter’s insurance? I don’t own anything of value,” says the person who never added up the value of their stuff. Have you ever stopped to add up the value of your personal possessions?  You may own … Continue reading

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Commoditizing Health Insurance – Putting the “Fun” in Fungible

Here’s a 25¢ word for today: fungible.  Fungibility means that one thing can be exchanged for another.  It’s an important economic concept and is critically necessary for the functioning of our economy, but you don’t hear too much about it.  … Continue reading

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Thoughts on Long-term Disability for White Collar Workers

I have had the misfortune of reading this post, “Young Office Workers Don’t Need Long Term Disability Insurance” by Kevin McKee at Thousandaire.  His thesis is that one needs to be tremendously disabled to not be able to work at an … Continue reading

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Opinion on Medical Cost Sharing

While scouring the internet like a Four Loko powered Roomba, I stumbled across the most interesting thing.  It appears that there is a small movement to shift from medical insurance to medical cost sharing, and seems to have roots in … Continue reading

Posted in Financial Planning, Insurance

Are You Disaster Prepared?

In news this week, portions of Joplin, Missouri were scrubbed off the face of the earth by a massive tornado.  While this is top-of-mind, we should take a second to think through our disaster preparedness. Happily, the FEMA has put … Continue reading

Posted in Current Events, Insurance

Opinion on Infinite Banking/Bank on Yourself

I’ll be upfront, I’m very skeptical about this idea.  You can get more info about the concept from more than a few sources – I’m not going to link to them, you can google them yourself.*  I believe the gist of the idea … Continue reading

Posted in Banking, Insurance

A Perspective Change

From time to time I bounce up against the most interesting things.  One of these interesting things are attitudes about financial products.  Some people claim to have affection for their credit cards, to the point that their emotions become tumultuous … Continue reading

Posted in Credit, Financial Planning, Insurance, Investments

Who’s Snooping on You?

We all know that there are large credit reporting companies that sell our credit records.  Did you also know that there’s a whole slew or other consumer reporting agencies that trade in other information about you?  Happily, Consumer Reports has … Continue reading

Posted in Credit, Documents, Financial Planning, Insurance

Just When You Think You Have Your “Reputation” Under Control…

There’s another consumer report to look after. I think it’s common knowledge that there are credit reports available that detail your borrowing habits.  Did you know there’s a report about your health, too? It’s called the MIB Consumer File.  It’s used … Continue reading

Posted in Insurance

Exploding Straightirons and Property Insurance

First lets start with the fun part: property insurance!  You may know it better as renter’s or homeowner’s insurance.  The idea is to insure yourself against an infrequent and catastrophic loss.  Most people paint a picture in their head of … Continue reading

Posted in Insurance