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Straight talk from the money editor
It's vital to plan for the unexpected. I learned that lesson when my wife died (at the age of 44) of cancer 12 years ago and I became a single parent raising two young kids. I was reminded again when my dear friend and colleague Sharon Epperson suffered a brain aneurysm a year ago. It left her disabled and, as she said, uncertain of whether she could ever return to work. Happily, Sharon is back covering personal finance and is better than ever. While it may be uncomfortable to discuss, it's really important to make sure you are prepared for life's unexpected events. A sudden death or serious illness can knock a family for a loop. If the family member is under-insured for a particularly costly illness, how do you cover the debt? Here are some key questions you need to ask yourself: Do you have the proper insurance coverage? Do you have long-term disability insurance through your employer? If so, what does it cover? Do you have a power of attorney established? How about a health-care proxy? Have you updated your will? Do you have a centralized location for important documents? Do you have an index of all your savings, investments and other important assets? The bottom line: It's key to live for today and prepare for tomorrow. For more stuff like this, please follow me on twitter @ jimpavia. |
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5 ways to avoid financial disaster from unexpected events
It took a traumatic event — a brain aneurysm — for CNBC's Sharon Epperson to understand the importance of financial preparedness. |
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Retirees must manage Social Security income well to avoid the "tax torpedo," the unexpected way it is taxed, depending on how much other income you have. |
When we sabotage our own investment decisions
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To live happily ever after, discuss money with your partner
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The new risks 401(k) plan sponsors face
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Now is the time to make these six tax moves
For most investors, 2017 was a great year and that means hefty tax consequences. Here's how to protect yourself. |
Retirement tricks for the self-employed
You may be able to save tens of thousands more for retirement than if you were working for someone else — even if you're earning about the same salary. |
7 tricks to help you avoid a pricey homeowners claim
Nearly four in five consumers uses a smoke detector, but a Travelers survey finds homeowners lag behind on other protections. |
Beware of scammers using Medicare to defraud you
Open enrollment brings scammers out of the woodwork to prey on older Americans who have Medicare. |
Words matter
"In the event that my most strident warnings turn out not to have been helpful, I can always point to the capital gains I've generated for you ... " |
 | Sharon Epperson | |  | Josh Brown | |
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