“America’s Costliest Hurricanes” from The Economist
As we all know, the economy can be a huge external factor that can impact our financial planning. Here’s a look at the economic effects of hurricanes in The US since 1950. While it is not yet determined what the damage of Hurricane Irene has been (estimated between 7 and 10 billion dollars), Hurricane Katrina from 2005 takes first place by a long shot. В Quote and graphic from The Economist.
America’s costliest hurricanes
“HURRICANESВ that tear up America’s east coast in the way Irene did this weekend are rare compared with those that slam into the Gulf coast and Florida. But getting up to New York, and indeed New England, is not unheard of. Hurricane Carol hit Long Island 57 years ago today, and while considerably smaller than Irene but still managed to get into the top 20 list of hurricanes as ranked by damage to property. How Irene will fare on the damage scale remains to be seen.” (Read full article here.)
The best thing we can do in natural disasters is be prepared. Keep your eyes out for tips on how to ensure you and your family are financially ready.