061: Creating a Financial First Aid Kit with Will Doty

Everybody knows that life can be unpredictable, and anything can happen at any time. Out of nowhere, we may lose a loved one, fall ill ourselves, or end up living through a natural disaster–and the last thing you want in these trying moments is to be in financial distress.

This is why disaster planning is a critical part of retirement planning. Many people fail to make several necessary arrangements for end-of-life planning before disaster strikes, and it can lead to massive expenses, a conflict that tears families apart, and nasty court battles.

Today’s episode is all about how to create a financial first aid kit. You’ll hear from CERTIFIED FINANCIAL PLANNER™ Will Doty about the documents and resources you need to have ready if you’re dealt with a worst-case scenario event.

We’ll also talk about why it’s so easy to put these planning decisions off and the simple steps you can take to protect yourself in the short term without becoming a full-on survivalist.

In this podcast interview, you’ll learn:

• Why disaster planning is critical from a financial perspective.
• The critical components of a catastrophe plan–and why having just a will is not enough.
• The importance of having a team to help you settle your estate when you lose a loved one.
• Why naming a child as a successor trustee can be a double-edged sword.
• How Will coaches clients to be better prepared for natural disasters.

Get Today's Show Notes

To get a full recap of today's conversation, including the biggest takeaways, transcripts, and links to all the resources mentioned, visit GuidedRetirementShow.com/61

Learn More about Retirement Planning

Find out more about retirement planning and Barber Financial Group, by visiting BarberFinancialGroup.com