Wealth management/investment FAQs for those affected by the fires

  • I’m not sure if I am going to buy/rebuild soon. I received insurance money – should I invest some?
    • This depends on your personal needs and goals. It’s important to ensure you have some funds available for the short- to mid-term in a savings or checking account for safety and access.
    • Depending on the amount of cash you have and your objective, there are safe short-term investments that are insured and guaranteed (other than FDIC/NCUA bank accounts) and usually have time commitments of 1, 3, 4, 5, 7 or 10 years.
    • Some money can be invested if your short-term needs are met (based on risk tolerance and objectives). Each Member’s situation is different; we encourage you to contact our Wealth Management team at (707) 576-5040.
  • How will this situation effect my investments/the market?
    • Your investments should experience very little to no change based on the events in our geographical location. 
    • However, the local community and economy will be significantly affected. Loss of business, jobs, and homes will have an impact on the cost of some goods and services in the area. The real estate market will also be changed based on the availability of homes to purchase and rent as well as property value for homes that still stand vs. the lots that no longer have homes.
  • How will saving money (or taking money out) effect my investments/future?
    • There is a mathematical impact on funds that are invested and stay invested based on your goals.  Adding money will allow you to grow funds, however there is risk involved with investing. 
    • Taking money out can be helpful for short-term needs but may have a negative impact on growth for long term goals that the money was originally invested for. 
    • Remain focused on your goal and do not make an emotional financial decision. If you need funds, they should be used. If you do not need funds, they should stay invested for the original and intended goals.
  • How can I cover my assets with NCUA/FDIC?
  • Trusts and avoiding probate – planning for the best as well as worst cases.
    • It is important to make sure you have will, trust, POA, and/or other important financial documents in place. Seek a reputable and qualified attorney for help.
  • Should I buy multiple properties for myself as an investment and rent them?
    • This is situationally dependent and would be part of a discussion about your overall financial plan.
    • We recommend that this represent only a part of your overall financial plan. There are many pros and cons to this type of investment, and it requires research and evaluation with a qualified financial professional.