The Impact Report - Episode 5 (Five Mistakes Affluent Homeowners Make)
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Show Notes
Affluent families and individuals often have so many things on their plate, that it's easy to overlook issues with one of their largest assets: their homes. And since our homes are important to our financial security, as well as our personal sense of stability with everything going on in the world right now, we need to make sure we're taking the proper precautions to mitigate any levels of risk.
In the latest installment of The Impact Report, Eric and Ryan identify the five biggest mistakes affluent homeowners are making today.
From failing to have enough liability insurance, to failing to adequately address a home's unique features or construction, this episode is bound to leave you with some key takeaways to consider with your own home!
Timecodes:
0:06 - Introduction and overview on the topic of the day
1:45 - Why it makes sense for homeowners to do a financial check up on their homes
2:30 - The five most prevalent mistakes homeowners are making today
3:25 - Failing to have enough liability insurance coverage
4:50 - How to tell if you have a lack of adequate coverage
5:27 - Owning multiple properties and the issues on this front
6:38 - Failing to list trusts or LLC's on a homeowners insurance policy
7:52 - Listing a home's unique architecture or materials
8:54 - Listing your high-value collections and artifacts
10:15 - What your wealth manager can do to help a given homeowner
11:30 - How you can get in touch with Eric's team to discuss this topic further
12:40 - Closing remarks
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