Financial Emergency File: 6 Things Every Adult Should Have

In this episode, Miguel Gonzalez explains six things every adult should consider including in a financial emergency file—from a list of financial accounts and insurance policies to estate planning documents, recurring bills, professional contacts, and secure digital access information. Taking the time to organize these essentials now can make important financial information much easier to locate when it's needed most.

Miguel Gonzalez is a Certified Retirement Counselor (CRC) with over 25 years of experience helping individuals and families with retirement income planning, investment strategies, and personalized retirement plans. He is the Managing Partner of Cortburg Retirement Advisors, a boutique financial planning firm focused on helping clients prepare for every stage of their financial lives.

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Welcome to Cortburg Speaks Retirement Podcast 
with Miguel Gonzalez, MBA, AIF®, CPFA®, CRC®

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Transcript

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Welcome to Cortburg Speaks Retirement

An audio podcast about investing in the stock market, financial planning, money management and retirement planning.  Each Wednesday, we help investors at all stages of life learn how to potentially grow and preserve their money from first job through retirement.

Now here is your host, Miguel Gonzalez.

Good morning and welcome to the CORTBURG SPEAKS RETIREMENT audio podcast.   

Most people keep important financial information somewhere. It might be in a filing cabinet, a safe, an email folder, or spread across several online accounts.

The challenge is that if an unexpected emergency occurs, finding the right information quickly isn't always easy.

Today I'd like to discuss several items that every adult should include in an easily accessible financial emergency file.

1. A List of Financial Accounts

Start with a simple inventory of your financial accounts - checking and savings accounts, retirement accounts, investment accounts, credit cards, mortgages, and loans.

You don't necessarily need to include account balances, but having a list of where your accounts are located can save valuable time if information is needed unexpectedly.

2. Important Contact Information

Include the names and contact information for professionals who help manage different parts of your financial life.

This may include your financial advisor, attorney, accountant, insurance agent, and banking institutions.

3. Insurance Information

Keep copies—or a list—of your major insurance policies.

This may include homeowners insurance, auto insurance, life insurance, health insurance, disability insurance, or umbrella coverage.

You should also include policy numbers and customer service contact information so they can be accessed quickly when needed.

4. Estate Planning Documents

If you've completed estate planning documents, make sure someone you trust knows where they are stored.

These may include a will, trust documents, powers of attorney, healthcare directives, or other legal documents.

Keeping these records organized can help reduce confusion during difficult situations.

5. A List of Recurring Bills and Financial Obligations

Nowadays many bills are paid automatically.

Creating a simple list of recurring expenses—like utilities, mortgage payments, insurance premiums, subscriptions, and other automatic withdrawals—can help ensure important obligations aren't overlooked if someone else needs to temporarily manage your finances.

6. Secure Access to Digital Information

Much of our financial life now exists online.

Consider maintaining a secure record of important websites, account usernames, password management instructions, and methods of two-factor authentication.

Rather than leaving passwords written down in multiple places, many individuals choose to use a password manager or another secure system that a trusted person can access if necessary.

In Closing

Creating a financial emergency file isn't about expecting the unexpected.

It's about being organized and making important information easier to locate when it's needed most.

Even spending an hour gathering key documents and account information can provide greater clarity for both you and your loved ones.

This is Miguel Gonzalez, Certified Retirement Counselor (CRC) and Managing Partner, with Cortburg Retirement Advisors signing off for this week’s educational podcast.  

End of video disclosures:
CRC conferred by The International Foundation for Retirement Education.

 Securities offered through LPL Financial. Member FINRA/SIPC. Investment advice offered through Private Advisor Group, LLC, a registered investment advisor.
 
 

Private Advisor Group, LLC and Cortburg Retirement Advisors, Inc. are separate entities from LPL Financial.
 
 

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
 
 

All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy.