broken umbrellas

It’s Raining. It’s Pouring.

The umbrellas literally sit right beside our front door.

Four or five of them, and a few that actually work properly.  We even have one of those really cool ones that open and close the opposite way of traditional umbrellas, dumping rainwater outside when I close it instead of on me (Genius by the way…. How did it take us almost 4,000 years to come up with that?)

And yet, despite how easy it would have been to grab one… and despite the wet ground and dark sky… and despite the forecast that I checked that morning…. I left for work on Tuesday with no umbrella.

You can guess what happens next.  The rain started pouring about half-way to the office.  I sat in my car listening to a Bill Simmons podcast for as long as I could, but eventually just had to make a mad dash.  I looked like I had showered in my suit, which made for an incredibly comfortable morning, and basically didn’t completely dry out until I changed before dinner.  Shirt and suit went to the cleaners this morning (cha-ching!), and I woke up with a cold…. Good times, and all on me.

Whether it is for a large business or a small family, every financial plan needs good umbrellas.  Risk management is not as sexy as saving and investing, but it is equally important (if not more so) and can waylay the best laid plans.  Employee retention strategies, properly structured life insurance, fully funded buy/sell agreements, sufficient disability coverage, wills and powers of attorney, etc …. they may not be fun conversations, but they are a lot more fun than the conversations that take place when the unexpected occurs and there are no umbrellas.  As a wise man says to me often: “It’s not a matter of if it is going to rain, but when.  And how hard.  And how long.”

This morning, despite the sunshine, I carried an umbrella to the car, where it has now found a permanent home.  And I placed one at the entrance to our office.

I don’t know when it is going to rain again, but I’ll be ready when it does.

What kind of umbrellas are you carrying?

| Jay Kenerly, MSFS, CHFC