AirBnB is an extremely popular travel app. People around the country love using this app to book a place when they travel. Many homeowners use AirBnB as a way to gain income. This seems like a great idea, but it can open you up to unnecessary risk. http://hackronym.com/category/financial-advice/
Many financial advisors and wealth management advisors strongly advise their clients not to put their homes on AirBnB. Allowing people to stay in your home for a fee actually exposes you to several risks. Many insurance companies do not cover damage caused by your temporary tenant, and also will not be protected from any illegal activity. AirBnB offers some insurance, but typically that insurance is inadequate to cover any liability costs or damages. Short-term guests are simply too big a risk to justify the small amount of money you will be making. When you agree to take in an AirBnB guest you are putting yourself, your family, and your personal wealth at risk. If you do decide to use AirBnB, please make sure that you are educated on the risks you are taking. To further protect your wealth, you should strongly consider consulting a wealth and investment manager. They can help you manage your wealth and leave a comfortable future for your children. One great wealth and investment manager is Richard Blair.
Richard Blair has worked in the wealth management field for many years, and he currently operates Wealth Solutions. Wealth Solutions is based in Austin, Texas and they have a great reputation within the community. Blair is an expert at reviewing his client’s wealth and helping them go over their options. He is particularly adept at financial planning, so he can help your family get on the right track financially.
Many believe that managing wealth is easy when you are extremely wealthy, but it is actually quite difficult. Those with extreme wealth must make savvy investments to keep and grow their wealth. Blair is extremely skilled at working with extremely wealthy clients. He helps them plan for the estate tax while also protecting their assets. Currently, Blair is managing more than $55 million in assets. His clients are extremely satisfied with his help and support.
Wealth can be extremely fleeting if you do not make the right decisions. You must avoid putting your home at risk, so avoid apps like AirBnB. At the same time, you must strongly consider hiring a wealth management expert.
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