Rebuilding After the Storm: Lessons from St. Petersburg

A Community in Transition

I’m writing to you this month from sunny Florida, specifically the St. Petersburg/Madeira Beach area. The region is still recovering from the two recent storms, and the recovery efforts tell a fascinating story. Some homes remain untouched, with no remediation, mold removal, or rebuilding efforts underway. Others have been gutted, cleaned up, and now sit empty. Meanwhile, some homeowners have already moved back in, their houses looking as if nothing ever happened.

The recovery process has been uneven. Beach parking areas remain closed in many spots, yet the beaches themselves are bustling. Restaurants, shops, and tiki bars are reopening, though some have shuttered permanently. One of my personal favorites, Salt Rock Grill in Indian Shores, was largely unaffected due to its higher elevation and has been at full capacity almost daily.

The Financial Side of Disaster Recovery

What determines whether a home or business recovers quickly or remains in limbo? The answers vary, but they often come down to two critical financial factors:

1. Adequate Insurance Coverage: Did homeowners have policies that covered storm damage, including flooding and rebuilding to code?
2. Financial Resources: Even with insurance, the out-of-pocket costs of rebuilding can be staggering. Some simply don’t have the funds to restore their properties to meet current permit and inspection requirements.

As a Certified Financial Planner, this situation reminds me of the importance of financial preparedness and risk management. The visible signs of uneven recovery serve as a real-world case study of what happens when disaster strikes with or without a solid financial plan.

Key Takeaways for Homeowners and Investors

• Review Your Insurance Policy: Ensure you have adequate coverage for natural disasters, especially if you live in high-risk areas.
• Emergency Fund Matters: Having liquid savings can make all the difference in rebuilding faster.
• Market Shifts Post-Disaster: The number of “as-is” sales has risen, though not as dramatically as expected. If you’re considering real estate investment, now is the time to evaluate opportunities carefully.

A Personal Journey: Traveling with a New Puppy

Since December, I’ve been traveling with Cruiser, my new Chesapeake Bay Retriever. At five months old, he’s no longer a tiny pup, but he’s already had quite the adventure. Cruiser has flown with me three times, each time tucked into the largest airline-approved soft cage under the seat in front of me. As a dog owner, flying with a puppy is stressful—worrying about accidents or noise—but thankfully, all our flights went smoothly.

This time, I opted for a road trip, and Cruiser has become my steady companion. Unlike my past dogs, whom I’d leave at home, I made a decision early on that Cruiser would be different. He’s been on our boat in Florida eight or ten times this winter, adapting seamlessly to the lifestyle.

Lessons in Embracing New Experiences

This journey with Cruiser has made me reflect on how we sometimes delay the things we truly want to do. Whether it’s getting a dog, starting a new hobby, or taking a dream vacation, there’s never a perfect time—you just have to go for it.

• What have you been putting off?
• Is there something you’ve wanted to try but haven’t?
• Are you waiting for the “perfect time” that may never come?

My advice: Start now. Just like I finally got the dog I always wanted, maybe it’s time for you to take that leap—whether it’s a new business venture, a fitness goal, or a long-awaited adventure.

The Best Time to Start is Now

Whether it’s rebuilding after a storm, traveling with a new companion, or taking control of your health, the message is the same: There’s no perfect time to act, so start now.

If this newsletter resonated with you, I’d love to hear your thoughts. And if you found value in these insights, please share this with someone who might benefit.