RESOURCES

The western United States has been hit hard by wildfires this summer. If your home or business has experienced devastation due to wildfires, here’s what you need to know about filing an insurance claim.

Summary: Qualified Opportunity Zones (QOZ) allow gains to be reinvested in certain under-developed areas with three potential benefits to the investor. First, the tax on the gain is deferred until 12/31/2026 (payable in 2027). Second, if the investment is made before 12/31/21, 10% of the gain is eliminated for tax purposes. Third, any gains on the investment in the opportunity zone are tax-free, as long as certain conditions are met.

Recent wildfires have seared the property insurance market for some homeowners and businesses in the Golden State. According to the California Department of insurance, in 2017, for every $1 of premiums collected for homeowner’s insurance coverage, $2.01 was paid in out in claims, a loss ratio of 201%. In 2018, the loss ratio was 170%. This number does not account for administrative costs, including commissions, so the real damage is considerably worse. For reference, insurance carriers generally prefer a less ratio below 50-60% so they can still turn an underwriting profit after adding in administrative costs.

Flu strains in circulation change slightly every year. Flu vaccine manufacturers include or omit specific strains based on advice given by several world-class health organizations. According to recent research, flu vaccines reduce the risk of illness by about 40 to 60%, provided the flu strains included with the vaccine match those in circulation. When people do get sick, they tend to get less sick if they've had the vaccine. With all the focus on COVID-19, we must not forget about the annual flu, which is a constant killer.

Does the upcoming election mean it's time to reassess your portfolio? A historical look at presidential elections & the stock market can help you decide.