You found the right house, put in the new carpet, buffed the wood floors and moved in all your belongings. Then one day after being out with your family, you come home to find all your sewer pipes backed up and an inch of water in the bathroom and creeping out into that new carpet. You have company coming this weekend, but it’s okay, you just call Hank your insurance agent, and it will all be taken care of, right? Wrong. Most policies don’t actually cover sewer damage. 

That’s Right! No Coverage

Reading through the fine print of your insurance policy is important. Many things that new homeowners assume are covered turn out to be extra or not even available in the first place.

• Sewer Backup: As a sewer system ages it becomes more prone to blockages and bursting pipes which can leave you in the lurch. Sewage issues are rarely covered in homeowners’ insurance and usually require an extra specific endorsement. If you don’t have that additional coverage, all those repair and replacement costs will come out of your own pocket.
• Termites: Termites love wood. When they move into your home, they eat away at walls, support beams and any other wooden parts of your home. Termites cause over $5 billion in damage across the united states each year. It’s next to impossible to get a policy that covers termites, so keep an eye out for the signs and practice preventative pest control.
• Mold: Underneath the paint, behind the tub, around the floorboards – there are many places that mold likes to make its home. Over a thousand varieties, with some causing significant health risks like black mold, everyone is susceptible to a mold infestation. Most policies that include mold coverage have severe restrictions on its possible sources and max out at around $10,000 or so in coverage. That may sound like a lot, but mold damage can easily be more than that. Just think about replacing half the walls in your home in addition to the expensive treatment that prevents it from coming back.
• Flooding: A variety of water-related issues can cause flooding in your home. Some of them are covered, but flooding from hurricanes, heavy rain or tropical storms is usually not included. If you live in a storm-prone area, check to see if your community participates in NFIP, the National Flood Insurance Program. NFIP municipalities are required to meet FEMA preparedness requirements by putting resources into flood prevention. If your community participates, you are eligible for the NFIP coverage.
• Earthquakes and Sinkholes: Earthquakes and other ground movement such as sinkholes are not covered by the majority of policies. If you live near a water table, or on top of certain kinds of rock, your property may be prone to sinkholes. If one opens up beneath your home, the damage can be incredible. Check with your policyholder to see if additional earthquake and ground movement coverage is available for your property.

Make sure to talk to your insurance agent about all your needs and questions to get the right policy for your situation. Not sure what questions to ask? Your real estate agent will know what dangers your property is prone to.

Tweet

Retirement is something all workers should look forward to doing. It is a period of rest after many years of exemplary service. Retiring from service is not only applicable to government workers, those working in a private establishment, as well as other non-governmental organizations, will also retire at a particular time. 

While the retirement period is a period of rest, it can be frustrating if there is no financial preparation. It is therefore essential for workers to prepare adequately for their retirement not minding the retirement package put in place by their employer. An excellent way to put up a secure financial backup for retirement is saving. It pays to focus on how you can save towards your retirement. 

Here are some useful pointers and suggestions that will help you start to save effectively towards your retirement:

Start Early 

The most useful advice on how to save money for retirement is by starting early. When you start early in your career, you would have saved a considerable amount of money before retirement, giving you something worthwhile to fall back on when you retire. A lot of workers start saving late thinking that they have plenty of time ahead of them. Most of those workers end up saving nothing at the end of the day.

Clear all debt 

Debt is one of the hindrances to retirement savings. Though it is not comfortable paying off your debt as soon as you can but clearing all your debt means freeing up more money for retirement savings. So, to ensure you have enough money to save, try to be debt-free to enable you to have enough funds for your upkeep and your retirement savings as well.

Prioritize your Pension 

There are lots of reasons to save; you can save for a home, car, holiday, retirement and many other things. You must decide what your priority is, whether you are saving toward buying a new car, building a new house or you concentrate on your pension. Focusing on your pension funds may seem to be of no benefits while you are still working, but you will understand better when you retire. 

Set a goal

Setting a firm and realizable goal is a way of motivating yourself to put a particular sum of money aside for your retirement. There are numerous benefits of setting a goal when it comes to retirement savings. Apart from motivating you to do your best, a goal will always give you a target to meet.

Speak to a certified financial advisor if you have trouble figuring out a viable retirement plan.

Tweet

Want to wake up each day to a stunning luxe bedroom? Feel like you can’t achieve this without draining your account? I’ve got good news, today I‘m going to share my favorite upscale upgrades you can make even on a budget. You don’t have to be royalty to live like one, you just need to get creative (and put in some elbow grease).

Add mirrors to closet doors to bring in more light and make your bedroom feel larger. Get mirrors cut to cover over the panels of a door for a smooth, luxe look. This works great whether you have a hinged swinging door style or bifold.   

Create a faux canopy bed with curtain rods installed on the ceiling. Look for bracket styles described as ceiling mounted or those that completely enclose the rod. There are also room divider options that allow for rods to connect and create a seamless look. The curtain fabric you use will completely set the tone and atmosphere of the room.

Restain a piece of furniture or your whole set to give an old piece new life. This is a great long weekend project as you will need to time to sand down the pieces as well as stain and add a finishing coat. A dark stain will feel upscale and luxurious.

Create a built-in library with a window seat by filling a wall with bookcases flanking each side of a bench or trunk. Add molding around where they will meet the ceiling and floor to fully integrate them and give that built-in look. Ensure that whatever finish you choose for your new bookcase it matches existing woodwork in the room.

Update your light fixtures to create a rich new atmosphere. Update sconces to a new sleek silhouette. Swap a flush mount ceiling light for a pendant or chandelier. Replace a ceiling fan with blades for a drum style fixture for a true update in style.

And of course, there is nothing a fresh coat of paint can’t update. Create a luxurious atmosphere by choosing a neutral palette. Or be bold with a statement color that feels high end and ahead of the style curve. This one change can completely alter the look and feel of your bedroom without the need to change out any of your furniture to linens.

With that said, changing out linens is a great, easy way to upgrade your bedroom. Invest in a set with a high thread count and luxe-to-you style. Invest in a down blanket to stay toasty warm throughout the colder months. Curtains that sweep from ceiling to floor feel extravagant and create the illusion of a taller room. Load up on decorative pillows for a well-styled room that feels style-shoot-ready.

Tweet