Evacuating due to hurricanes or wildfires? Put these items in your ‘financial go-bag'
When fleeing a natural disaster, your instinct might be to grab a laptop or a treasured keepsake like a family photo album. But what about your car insurance policy or your tax returns?Around 250,000 people in California have been ordered to leave their homes as three wildfires in the San Francisco Bay Area have swelled to a size larger than the state of Rhode Island.
Whether escaping from a wildfire or a hurricane, people fleeing disasters need to assume they won’t be back for a very long time, said Tiffany Ballard, a wealth manager with Bergland Wealth Management, based in Ridgeland, Miss. There is a temptation to take bare essentials in a waterproof bag, she said. “The better alternative is storing critical files in a portable bin that stays ready to be packed in the car for travel,” she said.
Medical information is critical, including copies of prescriptions, medicine lists and contact information for doctors. To prepare for the absolute worst, travel with estate documents, such as a will or power of attorney.Cash is king in a natural disaster. With power outages likely, many businesses won’t be able to accept credit cards. And leaving cash behind is a dicey proposition when one’s home is at risk.
Also bring bank and investment account statements, including contact information for the relevant financial institutions, information regarding any outstanding loans, tax returns from recent years and any paper stock certificates or bonds.
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