Uncle Mark Gives Billings Youth His Best Financial Advice
Today my article is going to be about renters insurance. But first, let my ADHD mind wander and tell you a bunch of things that are sort of related to what the main message is going to be.
Let's start with younger coworkers asking us about back when we started broadcasting and our path to success in our business. I haven't been asked anything like that in a long time. These days all we see are younger employees who want to make the same amount of money that we make after being in the business for forty years. And they want that same money now.
The only unsolicited advice I give to younger coworkers is to invest in the company 401K. Put in 5%. You won't miss it. And 30 years from now, you'll thank me.
And the other one that I preach to anybody who will listen is to get yourself some renters insurance. It is one of the best values for what it costs vs the financial protection that it provides.
We had a fire recently where a young couple lost everything. There's actually a story about it on our Facebook page, complete with a link where you can donate to their Go Fund Me account. Even if you can give them 5 bucks, it helps.
If these folks had invested in renters insurance, they would be covered.
If you look around your house or apartment and try to figure out what the dollars would be to replace everything in there, you'd be surprised.
An example would be the clothes in your closet. What kind of money would it take to just replace your wardrobe? If you have to replace twenty-five shirts, a couple of pairs of pants, some shoes, and some jackets, it would be pricey.
Call your insurance guy and get yourself some rental insurance.
Love, Uncle Mark.