Posted on December 26th, 2007 by Florence Beaton
Posted on December 24th, 2007 by Florence Beaton
Happy holidays to everyone!
Stay tuned later this week for some special highlight posts covering topics from the past year.
We’ll resume our regular posts on Wednesday, January 2nd.
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Posted on December 6th, 2007 by Tim Menk
As we approach the 2007 Holiday season, it’s a good time to assess how the more fortunate among us can extend caring help to those in need. It’s a time for those of us with second homes to remember that some people, even in this wealthy country of ours, don’t have a first home, or enough food to feed their families.
One of the best ways I can think of to help the less fortunate in this season of fun, food and family, is to extend some of our bounty by donating either food or funds to local food shelves. A recent article in the New York Times calls attention to the fact that many food shelf charity programs around the country are in trouble. For whatever reason, donations of all kinds are down so far this year.
If you have a local food shelf, consider making a donation to assure that families with less will at least have what they need during this traditional season of giving. Or, you might want to consider a donation to America’s Second Harvest, a non-profit organization that collects and distributes food from the restaurant and retail industry that might otherwise be thrown away.
If you would like more information on the current difficulties being experienced by food shelf programs around the country, click here for the New York Times article.
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Posted on November 19th, 2007 by Tim Menk
If you own a second home in a high-risk area, you have no doubt seen premium costs soaring and even the availability of insurance in question. There is finally some action in Congress to address these thorny and complex issues.
Legislative battles over how to improve property and casualty insurance availability in disaster-prone areas have been ongoing since the catastrophic 2005 hurricane season. The latest chapter in this continuing saga is the passage by the House of a new Federal Disaster Insurance program. The legislation would result in the Federal Government entering the insurance business in a big way. The legislation now heads to the Senate, where it is seen as having substantial support from, among others, influential Senators Hillary Clinton (D-NY) and Bill Nelson (D-FL).
In addition to creating a significant new federal program, the bill expands on an idea already in use in Florida and some other states; the creation of insurance funds and the sale of special bonds to provide capital to pay for disaster losses. Such state-sponsored funds and bond sales could increase the availability of property and casualty insurance at a lower cost, especially in high-risk areas. Even though there is no federal money involved, the legislation is seen as providing at least an implicit guarantee that the federal government backs them.
The fate of the House bill in the Senate is uncertain, but hopeful. If a similar bill it passes in the Senate, there is one almost certain outcome: a Presidential veto. The margin in the House was not veto proof, so it’s likely there are many more chapters in this saga and bills to be written before a way out of the disaster insurance crisis is agreed to.
For more on the House bill, click here for a detailed article from the New York Times.
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Posted on November 14th, 2007 by Tim Menk
A recent Harris Interactive Poll conducted by Harris Interactive for financial services provider Principal Finance Group indicates that many retired or soon-to-retire baby boomers are experiencing unease about their long-term financial situation.
Among those still working, the survey found some of these fears include whether they will be able to maintain the quality of life, ability to afford medical care and inflation reducing their purchasing power.
Poll results indicate that retirees share many of the same fears as those still in the workforce. Added to that list, 21% of retirees in the survey expressed concern about being able to afford the basic necessities of life.
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Filed under: Finance, News | No Comments »
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