Protecting Your Nest Egg from the Vultures?

[haha]

Quote:

Originally Posted by audreyh1 I think you still can. They just require some minimums on home and car insurance - if you own them. Talk to your (or an) insurance company. There is also renters insurance. Perhaps an umbrella policy can tie to that. Audrey

I wonder what the thinking of an insurance company would be in refusing a liability policy to someone with no home or car. Most of one's exposure comes from driving, so it would seem that these car free applicants would be the most profitable customers. I suppose that most people in this situation may realize that they have little exposure, and self-insure. So maybe the insurance underwriter smells adverse selection?

Ha

[audreyh1]

Who knows, but I'm sure it widely varies between companies. You just have to find which company will sell the kind of insurance you need. I know, for example, that the pool of companies willing to sell specialty insurance to RVers is small, but it's out there. And it's not State Farm, GEICO nor some of the other biggies.

Varies by state as well of course.

Audrey

[Independent]

Quote:

Originally Posted by Martha If you file bankruptcy, the rollover IRA is fully protected if the money came from a 401k, or 457b. I am not absolutely sure about the 401a, I haven't looked it up. If you don't file bankruptcy, then the protection of the rollover IRA is governed by state law. Some states provide full protection, many limit protection to the amount reasonably necessary for your and your dependents support, other states place a dollar limit on the amount protected. There might even be a few states that give no protection. So, if things get bad and you have a big rollover IRA you might end up filing bankruptcy to protect it from creditors.

Thanks, I was wondering about that, too.