3 boxes to check before you buy homeowners insurance, according to a financial planner

a man wearing a suit and tie: The author, CFP Malik S. Lee. Martine Beher Photography

© Martine Beher Photography
The author, CFP Malik S. Lee. Martine Beher Photography

  • Whether you’re getting homeowners insurance for the first time or just updating your policy, there are three boxes you need to check before signing on the dotted line.
  • First, be sure your policy covers all your valuables, from your jewelry and cash to your deeds and letters of credit.
  • You should also purchase enough insurance to cover the replacement cost of your home (or slightly more) and consider getting an umbrella policy to cover personal liability.
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For most families in the United States, owning a home is an essential part of the American Dream. And even amid a global pandemic, the data suggest that that particular dream is alive and well.


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In July 2020, the US Census Bureau announced that the homeownership rate

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LendingClub Studies Reveal Customers Prioritize Personal Loan Payments Over Credit Cards, Helping Them Progress Towards Financial Health

SAN FRANCISCO, Sept. 22, 2020 /PRNewswire/ — LendingClub Corporation (NYSE: LC), America’s largest online lending marketplace connecting borrowers and investors, today released findings from two recent studies on member financial health and payment behavior before and during the novel coronavirus (COVID-19). Conducted in January and June 2020, the studies sought to understand member behavior before and during the coronavirus-driven recession and how they make decisions regarding prioritization of bills and expenses in relation to their long-term financial goals.

Lending Club, the world's largest online marketplace connecting borrowers and investors. (PRNewsFoto/Lending Club) (PRNewsFoto/Lending Club)

The key takeaway: Customers are prioritizing personal loan payments over their credit cards. These findings support recent assertions from TransUnion suggesting that personal loan delinquency rates were either in line with, or performed better than, credit cards across most credit tiers during the Great Recession.

The findings show that:

  • Despite their overall high levels of income ($90,000 average) and healthy credit profile (700 average), financial stress affected the day
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In America, Money Grows On Trees, Right?

Famous rapper, actor and filmmaker Ice Cube caught on to a recent trend in economic policy and proclaimed on Twitter that in the US, money grows on trees.

This idea has been popularized by economist and professor Stephanie Kelton, a major proponent of Modern Monetary Theory or “MMT.”

Advocates of MMT typically take on two slightly different policy paths, both worth describing.

One part of the MMT crowd simply states that deficits have no impact on the economy, and any inflation problem can be solved by raising taxes. In short, we keep the same monetary framework, issuing new debt to cover budget deficits, and we can more or less ignore the interest expense or the scary debt numbers that result. The goal of the politician is to maximize employment, investment, and consumption without causing inflation.

Ice Cube Joins The MMT Crowd:

Source: Twitter

The second faction of the MMT crowd

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Channel Arbitrage And Other Ways Fintech Is Disrupting Financial Services

Technology is shifting the way industries market to, acquire, and serve consumers. To understand how technology will impact the financial services industry, I turned to Jonathan Metrick, the Chief Growth Officer for Portage Ventures, a fintech focused VC. Below are his insights.

Kimberly Whitler: How does your experience provide a unique perspective on tech and the financial services industry?

Jonathan Metrick: My unique perspective comes from my experience on both the investing & operating sides of fintech (financial technology). My role as Chief Growth Officer at Portage Ventures allows me to see the breadth of the industry, by advising over a dozen fintech businesses across our global portfolio on marketing & growth. Prior to this role, I was the CMO of Policygenius, the leading insurtech marketplace in the US, where I gained deep expertise building a marketing division of +40 and helping scale the business 10x in three

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