Accidents and natural disasters are always in the news, but we never really expect them to happen to us, do we? When a freak summer storm knocked out the power around here for many hours, most of us were completely taken by surprise. You don’t appreciate running water and electricity until you don’t have them!
Let’s talk about how to be well prepared for emergencies.
PERSONAL AND FINANCIAL DOCUMENTS:
- Rob stresses the importance of storing original documents securely, either in a safe deposit box or a fireproof safe at home, and keeping copies on a thumb drive or in the cloud.
Lists essential documents to have on hand:
- Identity and family status proofs like driver's licenses, birth certificates, social security cards, marriage and divorce papers, etc.
- Tax, real estate, and insurance documents, including tax returns from the past six to seven years, real estate titles, vehicle registrations and titles, and all insurance policies.
- Emphasizes the necessity of having originals or certified copies of identity-verifying documents.
MEDICAL FILES AND EMERGENCY PLANNING:
- It’s important to compile and store medical histories, prescription information, and plans for any special care required due to health conditions.
- Have copies of health insurance cards and contact information for healthcare providers readily available, as well as living wills, healthcare directives, and powers of attorney for healthcare.
PREPARATION FOR DEATH IN THE FAMILY:
- Consider the often overlooked but essential preparations for the event of death, whether one's own or a family member's.
- Have information and documents such as cemetery plot titles, funeral instructions, benefits information, and account statements readily available.
- Securely store legal documents like wills and contact information for legal and financial advisors, and provide a list of individuals who should be notified.
ENCOURAGEMENT AND BIBLICAL WISDOM:
Of course, nobody wants to think about possible emergencies, but being prepared will make a difficult time less stressful for your family. Taking care of these details in advance is also part of being a good steward of everything God has given you.
Let’s finish with a word of encouragement from Isaiah 41:10, “Fear not, for I am with you; be not dismayed, for I am your God; I will strengthen you, I will help you, I will uphold you with my righteous right hand.”
On today’s program, Rob also answers listener questions:
- After moving back to the Midwest to care for a friend with cancer, the caller took Social Security at 62, drives DoorDash to stay within income limits, but is starting a full-time job and is confused about the Social Security penalty ending age.
- Caller has a couple of small 401(k)s totaling around $40,000, looking to move them out of the market into a safer investment, and wants advice on where to put the money for security and a small amount of interest.
- I received a lump sum from a disability settlement and paid off all my bills, but now I am going through a divorce and my wife has our savings in mutual funds; what can I do with my share to avoid heavy tax penalties?
- I planned to take my husband's Social Security at 60 and switch to mine at 70, but the rules changed; did I make a mistake by not claiming anything yet at 67?
- I am interested in securing a reverse mortgage for my condo; who should I talk to and what do I need to be aware of?
RESOURCES MENTIONED:
Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.
Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.
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