Clark, as someone who had a recent catastrophic storm event with major damage I would implore you to not use the language “value of your home” as reference to the proper coverage. Please encourage others to think in terms of replacement costs! I was insured for the value of my home but rebuilding my home (dwelling coverage) and contents (contents coverage) and fencing, storage building, detached garage (other structure coverage) are all three separate policies and all should be insured as replacing vs the value. If I had been well-informed I would not have been underinsured and stuck with a $50k bill over my insurance coverage. One last bit of advice if you’ve placed a lot of funds into your landscaping gardens, yards, trees, you’ll need to be sure you have coverage for storm damage. I had invested $20k into landscaping over the last four years. My policy covered landscaping but only if it was due to a riot or fire. Please check your policies and read the fine print.
My serious concern is that my insurance company will deny any claim I make and refuse to pay. It makes me wonder why I pay (a lot) for coverage when I don't feel covered. I have the highest deductibles, keep up with replacement costs, qualify for all discounts, and still find it almost unaffordable to pay premiums. I don't trust insurance companies and would rather consider just taking the risk. I've paid for 44 years; that's a ton of money added up, but it counts for nothing.
Underinsured is when you have insurance, but your policy coverage limits are too low to pay for all of the damages and/or medical expenses. Typically, state minimum auto insurance coverage is underinsurance. 💚
No warranties needed. My 2016 Mazda 6 is hitting 190000 miles without issues. Mazda, Toyota and Honda are the top three mainstream brands for reliability.
Clark, I would recommend that someone 22 years old not buy the target retirement funds since they are expensive and include bonds, which he doesn't need at such a young age. Instead, a 22-year-old should dollar cost into the S&P 500 or the Total Stock Market Index and continue to invest over his working lifetime. The track record of those two indexes is amazing and the cost at Fidelity, Schwab, or Vanguard is almost zero. He should not be buying individual stocks either (unless -5% for play money). The S&P/TSMI along with buying his personal residence early in life with make him rich in time.
We completely welcome differing opinions! We are fans of passive, index-tracking target date funds, which tend to be much less expensive. Housing them at Fidelity, Schwab, or Vanguard is also inexpensive. 💚
@@Clark I couldn't find even one target retirement fund that outperformed the S&P over the last five years. Or even ten years. Or even 15 years. Not one. Example: FFSFX is up 35% over the last five years while the S&P is up 92% over that same period. This would be a huge difference for a 22-year-old. Anyway, I love your show.
It's all about saving money overall. The higher premium now will save you money in the long run because all of your damages are covered in case of a catastrophic event. Paying less and being underinsured could be devastating to your finances if you have to pay enormous out-of-pocket expenses because your policy was not enough to cover all of the damages. 💚
The BEST Charity?? The undisputed BEST CHARITY is the Gideon's International, provider of God's Bible to the world in over 100 languages at NO COST to the recipient.
I agree. S&P 500 index ETF, and don’t think about stocks. Put that attention into the aspects of life that bring meaning, like a spouse and family. He’s going to have so much money by retirement and he won’t need to worry about bonds. Social Security will be his bond component. He can buy bonds later in life if he wants to. I disagree with target date funds. In his situation, they will wind up becoming too conservative, and he won’t be able to get out of them in his taxable accounts because of capital gains.
⌚ One watch is a Garmin Fitness tracker to track steps. ⌚ The other is a Samsung Smart Watch, which has phone capabilities like email, talk, and text. 💚
#BonusPhrase ... "...should we choose to accept it". Clark always says "Our mission... is to serve you with advice and information." Well, sounds like the old #MissionImpossible TV show... "Your mission, should you choose to accept it... " Lol. #ClarkShowRocks #TeamClarkRocks
Love opening banter
Clark, as someone who had a recent catastrophic storm event with major damage I would implore you to not use the language “value of your home” as reference to the proper coverage. Please encourage others to think in terms of replacement costs!
I was insured for the value of my home but rebuilding my home (dwelling coverage) and contents (contents coverage) and fencing, storage building, detached garage (other structure coverage) are all three separate policies and all should be insured as replacing vs the value. If I had been well-informed I would not have been underinsured and stuck with a $50k bill over my insurance coverage. One last bit of advice if you’ve placed a lot of funds into your landscaping gardens, yards, trees, you’ll need to be sure you have coverage for storm damage. I had invested $20k into landscaping over the last four years. My policy covered landscaping but only if it was due to a riot or fire. Please check your policies and read the fine print.
My serious concern is that my insurance company will deny any claim I make and refuse to pay. It makes me wonder why I pay (a lot) for coverage when I don't feel covered. I have the highest deductibles, keep up with replacement costs, qualify for all discounts, and still find it almost unaffordable to pay premiums. I don't trust insurance companies and would rather consider just taking the risk. I've paid for 44 years; that's a ton of money added up, but it counts for nothing.
We understand your frustration, and it's valid. 💚
Clark cursed! I've never heard him curse in 30 years!!! Hilarious!
We are so sorry for the mistake! We have edited the show. We sincerely apologize!
😂😂😂😂
Damn I missed it
@@Clark Nothing to apologize for really.
@@ClarkL censorship
What, no captions?
Great show
Surprised mortgage companies don’t force borrowers to increase policies!
What is the definition of "under insured"?
Underinsured is when you have insurance, but your policy coverage limits are too low to pay for all of the damages and/or medical expenses. Typically, state minimum auto insurance coverage is underinsurance. 💚
18:57 Just say NO to Wells Fargo.
I am my favorite charity
Definitely pay yourself first! If you have a little extra to spare, it's nice to help others. 💚
No warranties needed. My 2016 Mazda 6 is hitting 190000 miles without issues. Mazda, Toyota and Honda are the top three mainstream brands for reliability.
????
Clark, I would recommend that someone 22 years old not buy the target retirement funds since they are expensive and include bonds, which he doesn't need at such a young age. Instead, a 22-year-old should dollar cost into the S&P 500 or the Total Stock Market Index and continue to invest over his working lifetime. The track record of those two indexes is amazing and the cost at Fidelity, Schwab, or Vanguard is almost zero. He should not be buying individual stocks either (unless -5% for play money). The S&P/TSMI along with buying his personal residence early in life with make him rich in time.
We completely welcome differing opinions! We are fans of passive, index-tracking target date funds, which tend to be much less expensive. Housing them at Fidelity, Schwab, or Vanguard is also inexpensive. 💚
@@Clark I couldn't find even one target retirement fund that outperformed the S&P over the last five years. Or even ten years. Or even 15 years. Not one.
Example: FFSFX is up 35% over the last five years while the S&P is up 92% over that same period. This would be a huge difference for a 22-year-old. Anyway, I love your show.
Here he go again. Clark say pay less on stuff but pushing you to pay high premium.for your ins.
It's all about saving money overall. The higher premium now will save you money in the long run because all of your damages are covered in case of a catastrophic event. Paying less and being underinsured could be devastating to your finances if you have to pay enormous out-of-pocket expenses because your policy was not enough to cover all of the damages. 💚
The BEST Charity?? The undisputed BEST CHARITY is the Gideon's International, provider of God's Bible to the world in over 100 languages at NO COST to the recipient.
No, do not buy individual stocks, regardless of age. And at 22, that’s a bad path to start .
We always welcome your different opinion! 💚
I agree. S&P 500 index ETF, and don’t think about stocks. Put that attention into the aspects of life that bring meaning, like a spouse and family. He’s going to have so much money by retirement and he won’t need to worry about bonds. Social Security will be his bond component. He can buy bonds later in life if he wants to. I disagree with target date funds. In his situation, they will wind up becoming too conservative, and he won’t be able to get out of them in his taxable accounts because of capital gains.
@@genxx2724 We welcome your different perspective too! 💚
Why do you wear two watches at one time?
one is a fit bit type thing, not a watch
My cousin wore two watches for thankgiving dinner. Told him he looked like Clark Howard.
@@AcuraTLBuilder 😂😂 Why does your cousin wear 2 watches? Did he say?
⌚ One watch is a Garmin Fitness tracker to track steps. ⌚ The other is a Samsung Smart Watch, which has phone capabilities like email, talk, and text. 💚
Nerd alert!! Nerd Alert!!
Any plans on editing out that first 20 seconds, to make it G rated again? lolz
We are so sorry for the mistake! We have edited the show. We sincerely apologize!
Aww man, I missed it!
#BonusPhrase ... "...should we choose to accept it". Clark always says "Our mission... is to serve you with advice and information." Well, sounds like the old #MissionImpossible TV show... "Your mission, should you choose to accept it... " Lol. #ClarkShowRocks #TeamClarkRocks
💚 #bonusphrase