Released: September 27, 2009

Could your financial life survive a disaster?

Source: Claudia Buck [Baltimore Sun] (Free Registration)

Every natural disaster sears us with the same images: Forlorn families sifting through ashes for possessions. And business owners peeling open the charred remnants of payroll records and money bags. Fires, floods, earthquakes and other natural disasters can wreak havoc not only physically and emotionally, but also financially. And it doesn’t take much. Something as mundane as a burst water pipe can flood a basement or garage, reducing your paperwork to an unsalvageable mess. Regardless of the magnitude of the mess, it pays to be prepared. When disaster strikes, there’s usually limited time to decide what to take with you. “People never think it’ll happen to them,” said Ted Beck, a financial education expert whose family survived the Oakland Hills, Calif., fire of 1991.

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