It does not matter how large your portfolio is or how dialed in your retirement plan seems to be.

If you don't have the right protection in place, it can all be undone in a hurry.

That's why today we're going to be talking about umbrella insurance so that you can understand how it best fits within your overall financial plan.

This is another episode of Ready for Retirement.

I'm your host, James Knonell, and I'm here to teach

you how to get the most of the life with your money. And now, on to the episode. Too often,

I see people, they create financial plans that are only focusing on the quote-unquote fun stuff.

They talk about how their investment portfolio needs to be allocated. They talk about income

strategies and how to maximize that. They talk about income strategies and how to maximize that.

They talk about minimizing taxes. Those are all great things. Those are all things we should focus on

and we here at Root do spend a lot of time focusing on. But I almost think of these as offense.

They're designed to create something. They're designed to take what you have and make it better,

but you also have to focus on defense.

Now, sometimes defense isn't as fun to think about, but defense is things like insurance protection,

it's things like estate planning.

It's a thing about how can you do the right steps or how can you take the right steps

to protect the income, the investments, the tax strategy that you have in place.

So that's why in today's

episode we're going to be talking about one important aspect of insurance, which is umbrella

insurance. This episode is based on a question from a listener, and this listener, this question

comes from Tom. Tom says this. He says, I have a question about umbrella insurance and

specifically, how does someone determine the amount of umbrella

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