{"id":273,"date":"2019-10-01T17:36:51","date_gmt":"2019-10-01T17:36:51","guid":{"rendered":"http:\/\/ladintax.com\/blog\/2019\/10\/01\/economic-perils-and-opportunities-of-extreme-weather\/"},"modified":"2019-10-01T17:36:51","modified_gmt":"2019-10-01T17:36:51","slug":"economic-perils-and-opportunities-of-extreme-weather","status":"publish","type":"post","link":"http:\/\/ladintax.com\/blog\/2019\/10\/01\/economic-perils-and-opportunities-of-extreme-weather\/","title":{"rendered":"Economic Perils and Opportunities of Extreme Weather"},"content":{"rendered":"<div>\n<p>While the causes of climate change<br \/>\nmay be for up for debate, its impact on our economy and potential adjustments<br \/>\nto business models are not.<\/p>\n<p>For example, rampant coastal flooding<br \/>\nin South Florida has prompted at least one research institute to predict insurers<br \/>\nwill stop offering homeowners policies in the region. As a result, the<br \/>\ninstitute says, banks will stop offering 30-year mortgages. To retain residents<br \/>\nand attract new people to the region, the greater Miami area has invested heavily<br \/>\nin mitigation and adaptation efforts to literally stem the tide. Of course,<br \/>\nthese efforts lend themselves to new jobs and infrastructure spending, which<br \/>\nhelp stimulate the local economy.<sup>1<\/sup><\/p>\n<p>While extreme weather may not<br \/>\ndeter you from buying the home of your dreams, it is worth considering a few<br \/>\ndefensive moves to help reduce your financial risk when considering a home<br \/>\npurchase.<sup>2<\/sup><\/p>\n<ul>\n<li>Check whether the<br \/>\nhome is in a flood zone and has suffered any damage in the past<\/li>\n<li>Shop for<br \/>\nhomeowners insurance coverage before you buy a property to make sure you can<br \/>\nbudget for it long term<\/li>\n<li>Find out what<br \/>\nmaterials and techniques were used in construction to see whether they meet current<br \/>\nbuilding codes<\/li>\n<\/ul>\n<p>Regardless of where you live, it\u2019s<br \/>\nimportant to separate your housing security from your long-term financial future.<br \/>\nThis means taking precautions, including having adequate homeowners insurance,<br \/>\nto help ensure that property losses will not affect your retirement income. And<br \/>\nif you\u2019d like assistance in assessing your retirement income strategy, we\u2019re<br \/>\nhere to help.<\/p>\n<p><a>Florida is not the only state suffering<br \/>\nfrom the effects of severe weather. In fact, Washington, D.C., recently<br \/>\nexperienced 4 inches of rain in just one hour, triggering flash flooding in the<br \/>\nmetro area.<sup>3<\/sup> Meanwhile, wildfires in the western U.S. are worsening,<br \/>\nburning twice as many acres each year since 2000 than they did in the 1990s.<sup>4<\/sup><\/a><a href=\"https:\/\/cflblogs.ef34f1rx-liquidwebsites.com\/#_msocom_1\">[CM1]<\/a>\u00a0<\/p>\n<p>There are a couple of different<br \/>\nways to view growing instances of extreme weather. First, there\u2019s the negative<br \/>\nimpact. One study concluded higher temperatures could cost the nation $520<br \/>\nbillion each year among 22 different sectors, including agriculture and<br \/>\ninfrastructure.<sup>5<\/sup><\/p>\n<p>However, another way to look at<br \/>\ncombating climate change is through opportunity for economic growth. For<br \/>\nexample, Iowa\u2019s investments in wind farms have resulted in $58 million in state<br \/>\nand local tax payments and $20 million to $30 million in lease payments to<br \/>\nprivate landowners. Nearly 10,000 Iowans have wind-related jobs in the No. 2<br \/>\nstate for both wind power capacity and share of total electricity generation.<sup>6<\/sup><\/p>\n<p>Nationwide, the solar industry<br \/>\nemploys more than 240,000 workers and contributed $17 billion to the American<br \/>\neconomy in 2018. In the past 10 years, solar energy has averaged 50 percent<br \/>\nannual growth in the U.S.<sup>7<\/sup><\/p>\n<p>A provision in the Tax Cuts and<br \/>\nJobs Act of 2017 offers another economic boost. Investments made in specific<br \/>\nlow- and moderate-income communities \u2014 dubbed Opportunity Zones, or OZones \u2014<br \/>\nqualify for capital gain tax deferral, partial forgiveness of tax on capital<br \/>\ngains and forgiveness of additional gains on those investments. The initiative<br \/>\nis expected to yield $200 billion to $300 billion worth of investment in the<br \/>\nnation\u2019s 8,700-plus OZones, including green economy projects.<sup>8<\/sup><\/p>\n<p><strong><em>Content prepared by Kara Stefan<br \/>\nCommunications.<\/em><\/strong><\/p>\n<p><sup>1 <\/sup>Theresa Pinto. Miami Beach Times. May 30, 2019. \u201cExperts<br \/>\nSay Sea Level Rise May Kill the 30-year Mortgage in Florida.\u201d <a href=\"https:\/\/miamibeachtimes.com\/real-estate\/experts-say-sea-level-rise-may-kill-the-30-year-mortgage-in-florida\/\">https:\/\/miamibeachtimes.com\/real-estate\/experts-say-sea-level-rise-may-kill-the-30-year-mortgage-in-florida\/<\/a>. Accessed Aug. 19, 2019.<\/p>\n<p><sup>2 <\/sup>Natalie Campisi. Bankrate. April 24, 2019. \u201cRising<br \/>\ntides, intense storms and floods wake-up call for homeowners, homebuyers.\u201d <a href=\"https:\/\/www.bankrate.com\/real-estate\/climate-change-homeowners-homebuyers\/\">https:\/\/www.bankrate.com\/real-estate\/climate-change-homeowners-homebuyers\/<\/a>. Accessed Aug. 19, 2019.<\/p>\n<p><a><sup>3 <\/sup><\/a>Jason Samenow, Ian Livingston and Jeff<br \/>\nHalverson. The Washington Post. \u201cHow and why the D.C. area was deluged by a<br \/>\nmonth\u2019s worth of rain in an hour Monday.\u201d <a href=\"https:\/\/www.washingtonpost.com\/weather\/2019\/07\/08\/washington-dc-flash-flood-how-why-area-was-deluged-by-months-worth-rain-an-hour-monday\/?noredirect=on\">https:\/\/www.washingtonpost.com\/weather\/2019\/07\/08\/washington-dc-flash-flood-how-why-area-was-deluged-by-months-worth-rain-an-hour-monday\/?noredirect=on<\/a>. Accessed<br \/>\nAug. 28, 2019. <\/p>\n<p><sup>4 <\/sup>Claire Wolters. National Geographic. Aug. 9,<br \/>\n2019. \u201cWildfires, explained.\u201d <a href=\"https:\/\/www.nationalgeographic.com\/environment\/natural-disasters\/wildfires\/\">https:\/\/www.nationalgeographic.com\/environment\/natural-disasters\/wildfires\/<\/a>. Accessed<br \/>\nAug. 28, 2019.<a href=\"https:\/\/cflblogs.ef34f1rx-liquidwebsites.com\/#_msocom_2\">[CM2]<\/a>\u00a0<\/p>\n<p><sup>5 <\/sup>Renee Cho. The Earth Institute at Columbia University.<br \/>\nJune 20, 2019. \u201cHow Climate Change Impacts the Economy.\u201d <a href=\"https:\/\/blogs.ei.columbia.edu\/2019\/06\/20\/climate-change-economy-impacts\/\">https:\/\/blogs.ei.columbia.edu\/2019\/06\/20\/climate-change-economy-impacts\/<\/a>. Accessed Aug. 19, 2019. <\/p>\n<p><sup>6 <\/sup>Sen. Chuck Grassley. Newton Daily News. Aug. 15, 2019.<br \/>\n\u201cWind powers big opportunity.\u201d <a href=\"https:\/\/www.newtondailynews.com\/2019\/08\/15\/wind-powers-big-opportunity\/a1i81u4\/\">https:\/\/www.newtondailynews.com\/2019\/08\/15\/wind-powers-big-opportunity\/a1i81u4\/<\/a>. Accessed Aug. 19, 2019. <\/p>\n<p><sup>7 <\/sup>Vallejo Times-Herald. July 25, 2019. \u201cThompson,<br \/>\nothers, introduce Renewable Energy Extension Act.\u201d <a href=\"https:\/\/www.timesheraldonline.com\/2019\/07\/25\/thompson-others-introduce-renewable-energy-extension-act\/\">https:\/\/www.timesheraldonline.com\/2019\/07\/25\/thompson-others-introduce-renewable-energy-extension-act\/<\/a>. Accessed Aug. 19, 2019.<\/p>\n<p><sup>8 <\/sup>Julia Parzen and Graham Richard. GreenBiz. Aug. 14,<br \/>\n2019. \u201cOpportunity zones could provide major boost for clean energy,<br \/>\nsustainable development.\u201d <a href=\"https:\/\/www.greenbiz.com\/article\/opportunity-zones-could-provide-major-boost-clean-energy-sustainable-development\">https:\/\/www.greenbiz.com\/article\/opportunity-zones-could-provide-major-boost-clean-energy-sustainable-development<\/a>. Accessed Aug. 19, 2019.<\/p>\n<p><em>We are an independent firm helping individuals create retirement<br \/>\nstrategies using a variety of insurance products to custom suit their needs and<br \/>\nobjectives. This material is intended to provide general information to help<br \/>\nyou understand basic retirement income strategies and should not be construed<br \/>\nas financial advice. <\/em><\/p>\n<p><em>The information contained in this material is believed to be reliable,<br \/>\nbut accuracy and completeness cannot be guaranteed; it is not intended to be<br \/>\nused as the sole basis for financial decisions. If you are unable to access any<br \/>\nof the news articles and sources through the links provided in this text,<br \/>\nplease contact us to request a copy of the desired reference.<\/em><\/p>\n<p>936265B<\/p>\n<hr class=\"wp-block-separator\">\n<p>\u00a0<a href=\"https:\/\/cflblogs.ef34f1rx-liquidwebsites.com\/#_msoanchor_1\">[CM1]<\/a>Note<br \/>\nto Compliance: I changed this a bit and sourced the info from two different<br \/>\nplaces because I thought the original source was too much of an opinion piece. <\/p>\n<p>\u00a0<a href=\"https:\/\/cflblogs.ef34f1rx-liquidwebsites.com\/#_msoanchor_2\">[CM2]<\/a>New<br \/>\nsources.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>While the causes of climate change may be for up for debate, its impact on our economy and potential adjustments to business models are not. For example, rampant coastal flooding in South Florida has prompted at least one research institute to predict insurers will stop offering homeowners policies in the region. As a result, the&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_expiration-date-status":"","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[],"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/posts\/273"}],"collection":[{"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/comments?post=273"}],"version-history":[{"count":0,"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/posts\/273\/revisions"}],"wp:attachment":[{"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/media?parent=273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/categories?post=273"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/tags?post=273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}