Few Americans Financially Prepared for a Natural Disaster
Six in ten Americans (61 percent) believe they are likely to be personally impacted by a natural disaster in the next three to five years, including one in five (19 percent) saying they are very likely to be personally impacted. That’s according to an American Institute of CPAs (AICPA) survey of 2,050 U.S. adults conducted by The Harris Poll in the fall of 2019. Natural disasters like hurricanes, floods, tornadoes, earthquakes and wildfires happen every year. In fact, 2019 marked the fifth consecutive year that ten or more weather and climate disasters with at least a billion-dollars of associated losses affected the United States.
“In the face of a natural disaster, protecting your family from harm should be your primary concern,” said Gregory J. Anton, CPA, CGMA, chair of the AICPA’s National CPA Financial Literacy Commission. “During the recovery process, access to financial resources and personal information is critically important. Taking action to put together a plan today will help protect your family and your finances should you ever find yourself impacted by a natural disaster.”