With the values of homes climbing in the City of Inglewood, many people are excited about having access to equity that we never imagined possible. This new found access to equity is great for residents, especially those who hung in there through the tough times and now get to benefit from the good times ahead.
So now that we have this new found wealth, we need to make sure we are protecting it. Many people don’t have the correct insurance on their property to cover their home in the event of a fire, earthquake or even a drunk driver crashing into our living rooms.
But more importantly, many of us don’t have the correct insurance on ourselves to make sure, in the event of something catastrophic happening to us; we would have enough funds available so our spouses or children could afford to stay in the home.
And, we must all remember our most valuable assets are not the four walls that house our families, the assets are the lives of our loved ones that reside within those walls. Keeping them secure in the event of something going wrong should be a top priority.
When your house was worth $150,000 many people just were not that concerned with having the right protection. But now that those same homes are selling for $350,000 and up, we need to make sure we are doing what it takes to secure our futures.
This starts with making sure we have enough life insurance to cover the remaining balance owed on the mortgage, if something happened to us. Next, we want to make sure we have the right amount of insurance on the property itself to make sure in the event of a natural catastrophe like an earthquake or fire you would be able to rebuild and continue living, a normal life.
Many of us really don’t like the word insurance. It seems like something you pay for and never end up getting any value out of. But that is the price of having things that are valuable. So before you dismiss the need to protect your ASSETS ask yourself how important they are.
At WLM Financial our goal and my dream is to teach people how to get in the position to be financially free, and with a little bit of hard work and endurance you can get there.