Affinity Designer is a powerful tool for creating stunning visuals, but getting your artwork ready for different platforms can be daunting. That’s where the Export Persona comes in. This feature simplifies the process of exporting your designs, ensuring optimal quality and efficiency.
Whether you’re preparing your design for print, web, or mobile devices, the Export Persona provides a smooth approach to handling different file formats and export settings.
Previously, we learned how to scale down shapes. In this tutorial, we’ll explore the Export Persona’s capabilities together. But if you prefer visual learning, go to the Tuts+ YouTube channel for our complete Affinity Designer 2 course, or visit the Affinity Designer for Beginners course page for more video tutorials.
Watch the lesson: How to use the Export Persona in Affinity Designer
What is the Export Persona in Affinity Designer?
The Export Persona is Affinity Designer’s dedicated workspace for preparing your artwork for various outputs. This powerful tool allows you to effortlessly create and manage export slices, which are specific areas of the design you want to export.
By using the Export Persona, you can efficiently prepare multiple slices in different file formats and sizes simultaneously. This ensures optimal image quality and saves you valuable time when sharing your Affinity Designer graphics for different media and devices.
Use the Artboard tool to create separate artboards for different design elements and export them individually.
Steps to use the Export Persona
These are the steps to follow to use the Export Persona:
Switch to the Export Persona: Click on the Export icon in the workspace switcher at the top of your Affinity Designer window.
Create slices: Use the Slice Tool to define the areas of your artwork you want to export. You can create rectangular, elliptical, or polygonal slices.
Adjust the properties: Select a slice to modify its settings, including name, export format, size, resolution, and more.
Define the export presets: Create multiple export presets for different output requirements (e.g. web, print, mobile).
Export: Once you’ve defined your slices and export settings, click the Export Slices button to generate the desired output files.
Take advantage of the Continuous Export feature to automatically update exported files when changes are made to the original design.
With these steps, you’ll efficiently prepare your work for any platform, ensuring optimal quality and a seamless workflow.
More Affinity Designer tutorials
Continue learning about Affinity Designer 2 on Envato Tuts+, the Envato Elements blog, and these amazing Affinity Designer tutorials:
Bob Diamond, Atlas Merchant Capital CEO and former Barclays CEO, joins ‘Squawk on the Street’ to discuss his expectations for rate cuts, a possible turnaround in the mortgage market, and more.
BNB price started a fresh increase above the $542 resistance zone. The price is now consolidating gains and might aim for more gains above $550.
BNB price started a fresh increase above the $540 resistance zone.
The price is now trading below $550 and the 100-hourly simple moving average.
There is a key bearish trend line forming with resistance at $550 on the hourly chart of the BNB/USD pair (data source from Binance).
The pair must stay above the $540 pivot level to start another increase in the near term.
BNB Price Regains Traction
In the past few days, BNB outperformed Ethereum and Bitcoin. It remained stable above $525 and started another increase above the $535 resistance zone.
There was a move above the $542 and $545 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $562 swing high to the $527 low. However, the bears are now active near the $550 resistance zone.
The price is now trading below $550 and the 100-hourly simple moving average. If there is a fresh increase, the price could face resistance near the $550 level. There is also a key bearish trend line forming with resistance at $550 on the hourly chart of the BNB/USD pair. The trend line is close to the 61.8% Fib retracement level of the downward move from the $562 swing high to the $527 low.
The next resistance sits near the $558 level. A clear move above the $558 zone could send the price higher. In the stated case, BNB price could test $565. A close above the $565 resistance might set the pace for a larger move toward the $580 resistance. Any more gains might call for a test of the $592 level in the near term.
Are Dips Supported?
If BNB fails to clear the $550 resistance, it could start another decline. Initial support on the downside is near the $544 level. The next major support is near the $540 level.
The main support sits at $535. If there is a downside break below the $535 support, the price could drop toward the $520 support. Any more losses could initiate a larger decline toward the $505 level.
Technical Indicators
Hourly MACD – The MACD for BNB/USD is losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level.
How The Resilience Fund Is Flipping the Script in Corporate Philanthropy | unfoundation.org
In 2007, the Bangladesh-based nonprofit Karmojibi Nari (KN) established the first Women’s Café, a gathering space for women workers where they can rest, learn, receive services and support, and meaningfully connect with others. Photo: Courtesy of Karmojibi Nari
From agriculture and apparel to health care and domestic work, girls and women are the backbone of major global industries that keep our world turning. Yet despite their outsized role in the economy and society, far too many girls and women lack equal rights or basic protections in the workplace. In response, the Resilience Fund for Women in Global Value Chains, co-founded and managed by the Universal Access Project (UAP), is reimagining corporate philanthropy by putting feminist leaders in charge.
Women’s equal participation in the workforce and the world hinges on their ability to make their own decisions. Yet deep systemic inequities — gender-based violence, widespread lack of workplace protections, poor access to health services — still stand in the way.
And though health and safety are crucial for economic resilience, roughly half of women in 57 low-income countries still cannot freely make their own decisions regarding whether to have sex, use contraception, or seek health care, according to the United Nations Population Fund.
In the aftermath of the COVID-19 pandemic and its particularly devastating impact on girls and women, a group of forward-looking foundations, women’s funds, civil society organizations, and companies came together to shift power in traditional funding models. Co-created with Women Win/Win-Win Strategies and BSR and founding corporate partners Gap Foundation, H&M Foundation, PVH Foundation, Ralph Lauren Corporate Foundation, and the VF Foundation, the Resilience Fund brings together a powerful and diverse coalition of stakeholders. These were joined by feminist organizations like Women’s Fund Asia, Maitrayana Charity Foundation, the Global Fund for Women, and Prospera International Network of Women’s Funds.
Together, they are flipping the philanthropic script through democratized governance, power shifting, and participatory grantmaking. Here, local feminist leaders aware of community needs help determine who receives grants and where grantee-partners can play a leading role is shaping a learning agenda and impact measures. Instead of an outdated, top-down model of giving, the Fund is investing in grassroots, women-led organizations that know best which solutions meet their communities’ challenges.
“Being part of such an initiative really shows us that we have allies across different boards,” said Anisha Chugh, Executive Director of Women’s Fund Asia and a member of the Fund’s Advisory Board. “The Resilience Fund has been a learning experience in how you really effectively undertake resource justice advocacy and build the feminist funding ecosystem.”
Today, Karmojibi Nari (KN) operates 11 Women’s Cafés, which are safe and secure spaces to provide resources, help build community, and support women workers to learn and advocate for themselves and for systems change. Photo: Courtesy of Karmojibi Nari
Building a Safe Space for Women Workers
This shift toward a feminist funding ecosystem centered on local leaders is emerging through such women-led nonprofit organizations as Karmojibi Nari (KN) in Bangladesh. Its name, which translates to “Working Women” in Bengali, has created 13 Women’s Cafés across the capital city of Dhaka, as well as Gazipur and Narayanganj districts, one of which was established with support from the Resilience Fund. These cafés serve as sanctuaries where women workers can gather, share their experiences and knowledge, and access vital services, including legal advice, career counseling, psychological support, and basic health care. Between February 2023 and July 2024, nearly 750 women received checkups from a certified doctor from the Women’s Café.
Sunzida Sultana, Additional Executive Director at KN, emphasizes the importance of drawing on lived experience for effective philanthropy, “If I cannot have the root-level experience knowledge, how can I effectively use the money?” she says.
Anisha agrees. “If funding is not well-informed and not led by the concerns and analysis of the movements on the ground, it can also be detrimental. With the Resilience Fund, it’s these voices and these experiences that are guiding how resources should be invested,” she says.
In addition, KN provides advocacy and leadership training for women in the apparel and seafood processing industries, as well as various informal sectors such as domestic, migrant, home-based, and agricultural workers. This includes conducting workshops on gender equality, labor protection, civil rights, and other topics — all of which are central for a sense of agency and well-being. Over the past year, the Women’s Café under the Resilience Fund has educated some 300 garment factory workers about gender-based violence and about sexual and reproductive health and rights.
These cafés also help tackle domestic violence by providing legal aid and counseling support. As a result, all 40 complaints that KN has assisted with from 2023 to July 2024 have been resolved.
By providing such comprehensive services, these cafés help women understand their basic human rights and develop the confidence to assert them.
“With the Resilience Fund, it’s these voices and these experiences that are guiding how resources should be invested.”
Anisha Chugh, Executive Director of Women’s Fund Asia
A Broader Strategy for Women’s Empowerment
KN was launched more than three decades ago to help women confront persistent — and often devastating — challenges in post-independence Bangladesh with dignity and power. Today, there’s a powerful strategy underpinning it all: to organize women, build coalitions, and advocate for better policies. KN’s work and impact reach far — from the Women’s Cafés to safeguards for women on the job. The nonprofit, nongovernment, women-led organization has established Anti-Sexual Harassment Committees in 46 garment factories to protect women from sexual and gender-based violence at work, an effort that has benefited more than 100,000 women in the sector.
Decades of tireless advocacy have delivered even more wins for women in the workplace. In 2013, for example, KN successfully lobbied the Government of Bangladesh to recognize agricultural workers as “labor” in the amended Bangladesh Labor Act of 2006. This victory, Sunzida says, illustrated what can be accomplished when grassroots groups come together on a national level. “We can help women raise their voice and become leaders who will be a standard for other workers,” she adds.
As part of the broader strategy for women’s empowerment, Anisha often considers what the long-term outcome should be. “Are we looking at systems change? Are we looking at process change? Are we looking at movement building and strengthening that movement-building?”
This is especially critical in light of the latest Gender Snapshot by UN Women, Women Count, and the Department of Economic and Social Affairs. According to the report’s projections, it will take 300 years to achieve gender equality — and that’s way too long.
“If we look at whatever progress that we have achieved, it has been on the shoulders of a lot of the feminist activists, especially those from the Global South and feminist activists of color,” Anisha explains. “And if we don’t act now, we’re going to be pushed back a few hundred years.”
A Collaborative Approach to Investment
The Resilience Fund’s collaborative approach is helping more local, women-led organizations access funding opportunities and share learnings by investing in language justice and accessibility. As part of its ethos of power shifting, the application process provides free translation and application support and advice in the communities’ local language. The Fund recognizes that for organizations to have a more equal footing with other stakeholders and the greatest impact, they need to be able to communicate in their preferred language.
Beyond the founding investors, the Fund’s diverse partners who are providing essential support include Amazon, Lululemon, the Avery Dennison Foundation, and the Levi Strauss Foundation. By pooling their resources, these partners can support local and regional women’s funds, women-led organizations, and feminist leaders with unrestricted core flexible funding for locally led solutions.
“We hope the Fund is an opportunity to inspire and educate stakeholders and potential donors about this concept of flipping the approach to traditional top-down philanthropy,” says Gloria Schoch, Senior Director of Global Impact at VF Corporation and Executive Director of the VF Foundation. “We want to show how powerful it can be to place trust and resources directly into the hands of women-led organizations on the ground.”
The Fund’s Advisory Board, made up of corporate investors, women’s funds, and civil society organizations, ensures that non-corporate members represent 50% or more of the voting members so no one sector controls board decisions. As Anisha explains it, the Fund helps with bridge-building where participants can facilitate conversations and share learning that “cuts across borders.”
“When women thrive, our communities thrive and our businesses thrive, which is a powerful formula for meaningful economic development and positive change,” Gloria says. “When we work together, our investments grow, our resources grow, and there’s no limit to what we can accomplish.”
Looking Ahead: The Future of the Resilience Fund
As the Resilience Fund moves into its fourth year, it’s got three major priorities: To continue empowering women-led organizations, driving community-level change, and fostering resilience in global value chains. The Fund’s Learning Hub and other safe spaces facilitate ongoing dialogue and real-time learning among corporate investors, women’s funds, and women-led organizations. These interactions are helping address challenges jointly and co-create new metrics of long-term impact.
“What has been really valuable is being able to learn together, stretch our perspectives, and challenge our assumptions,” Gloria says. “The Hub provides unique and firsthand insight into how we can best support women as agents of change in their own communities and in their own backyards.”
The next years will be the most exciting for the Fund, as it seeks to increase long-term, flexible funding opportunities with women-led organizations; deepen, document, and share its approach to trust-based giving; expand real-time learning and engagement across sectors; and elevate the role of women-led organizations in the fight against climate change.
The Resilience Fund is emerging as a transformative corporate funding initiative. But it is also building a movement toward a more equitable and sustainable future — thanks to the “unlikely partners” that lead it.
“The bottom line is that women know what their communities need,” UAP’s Executive Director Dilly Severin says. “We believe the Resilience Fund’s trust-based, democratized approach and pooled investment model is the future of corporate philanthropy. No one sector can tackle these issues alone.”
Get Involved
Learn more about the Universal Access Project and the Resilience Fund — and explore how investing in girls and women builds a safer and stronger future for everyone, everywhere.
Earthquake insurance provides protection against financial losses caused by earthquakes. Earthquakes are natural disasters that can cause significant damage to properties, leading to substantial financial losses.
While regular homeowners insurance policies generally do not cover earthquake damage, earthquake insurance provides specific coverage for such incidents. This type of coverage can help homeowners and renters recover and rebuild after an earthquake, covering various costs such as repairing structural damage, replacing personal belongings, and temporary living expenses.
It is particularly essential for individuals living in earthquake-prone areas to consider earthquake insurance to safeguard their financial well-being in the event of a seismic event. Understanding the specifics of earthquake insurance, including coverage limits, deductibles, and exclusions, can help individuals make informed decisions about protecting their homes and belongings from the devastating effects of earthquakes.
Understanding Earthquake Insurance Coverage
Earthquakes can strike at any time, wreaking havoc on homes, buildings, and communities. The financial toll of earthquake damage can be devastating for homeowners who are unprepared. That’s where earthquake insurance comes in. In this section, we’ll explore what earthquake insurance is, how it works, why it is important for homeowners, and whether homeowners’ policies cover earthquake damage.
What Is Earthquake Insurance?
Earthquake insurance is a type of coverage specifically designed to protect homeowners against the financial losses resulting from earthquake damage. It provides reimbursement for the cost of repairs, reconstruction, and other associated expenses caused by earthquakes. While not mandatory in all areas prone to earthquakes, earthquake insurance is highly recommended for residents living in regions with a high seismic activity.
How Does Earthquake Insurance Work?
Earthquake insurance policies function differently than standard homeowners’ insurance policies. While homeowners’ insurance covers damage caused by a variety of perils, including fire and theft, it typically excludes coverage for earthquake damage. Therefore, earthquake insurance is a separate policy that homeowners must purchase to safeguard their property against earthquake-related losses.
When a homeowner obtains earthquake insurance coverage, they pay a premium to the insurance company. In exchange, the insurance company agrees to provide financial protection in the event of an earthquake. If an earthquake occurs and causes damage to the insured property, the homeowner can file a claim with their insurance company to receive compensation for the covered losses, up to the policy’s specified limits.
Why Is Earthquake Insurance Important For Homeowners?
Earthquakes can inflict severe damage to homes, resulting in extensive repair and rebuilding costs. Without earthquake insurance, homeowners may find themselves facing significant financial burdens in the aftermath of an earthquake. By obtaining earthquake insurance, homeowners can protect themselves from the potential financial ruin caused by these natural disasters. It provides peace of mind, ensuring that homeowners have the necessary funds to recover and rebuild their homes and lives.
Do Homeowners’ Policies Cover Earthquake Damage?
No, standard homeowners’ insurance policies typically do not cover earthquake damage. Since earthquakes are considered distinct events that present unique risks, specific earthquake insurance coverage is required to protect against these perils. It is important for homeowners to carefully review their insurance policies to understand the exact coverage and exclusions. Opting for earthquake insurance as an add-on to an existing homeowners’ policy or purchasing a separate earthquake insurance policy is crucial to ensure adequate protection.
Assessing The Risk Of Earthquakes
Living in an earthquake-prone region can be unsettling, but being proactive by assessing the risk beforehand can help protect you and your loved ones. Understanding earthquake-prone areas, evaluating your home’s vulnerability, and utilizing seismic hazard maps are crucial steps in assessing the risk of earthquakes. By considering various factors when evaluating earthquake risk, you can make informed decisions regarding earthquake insurance coverage and other precautionary measures.
Understanding Earthquake-prone Areas
In order to assess the risk of earthquakes, it is important to familiarize yourself with the areas that are more susceptible to seismic activity. Earthquakes primarily occur along fault lines, where tectonic plates meet and shift. Referring to seismic hazard maps provided by geological organizations can help you determine the level of seismicity in your vicinity and understand if you are residing in an earthquake-prone area. These maps usually classify areas into different zones based on levels of seismic activity.
Evaluating Your Home’s Vulnerability To Earthquakes
Once you have identified if your area is at risk, it is important to evaluate your home’s vulnerability to earthquakes. Certain factors can contribute to the level of damage that may occur during an earthquake. Consider assessing your home’s structural integrity, age, foundation, and the materials used in its construction. Older homes or those built with less earthquake-resistant designs or materials may be more susceptible to damage. Additionally, the layout of your home, such as the number of stories and the presence of large glass windows or heavy objects, can also impact its vulnerability. Taking note of these factors will help you determine the level of earthquake insurance coverage required.
Utilizing Seismic Hazard Maps
Seismic hazard maps are invaluable tools when it comes to evaluating earthquake risk. These maps provide detailed information about the likelihood and intensity of earthquakes in different areas. By referring to these maps, you can gain a better understanding of the potential impact an earthquake might have on your region, including factors such as ground shaking, liquefaction, and landslides. Utilizing these maps can help you make informed decisions about earthquake insurance coverage, home improvements, and emergency preparedness.
Factors To Consider When Assessing Earthquake Risk
When assessing earthquake risk, there are several factors that need to be considered. Some key factors to include are:
Proximity to fault lines: Living near active fault lines increases the likelihood of experiencing seismic activity. The closer you are to a fault line, the higher the risk.
Historical seismicity: Areas with a higher frequency of earthquakes are at an increased risk. Researching the history of seismic activity in your region can provide insights into the potential for future earthquakes.
Soil and ground conditions: The type and condition of the soil and ground your home is built on can affect the magnitude of ground shaking during an earthquake. Certain soil types, such as loose or sandy soils, amplify the shaking, potentially increasing the damage.
Building codes and regulations: Familiarize yourself with the building codes and regulations in your area. Compliance with earthquake-resistant standards and the use of appropriate materials can significantly reduce the risk of damage to your property.
By considering these factors and regularly reviewing the information provided by geological organizations and seismic hazard maps, you can stay informed about the risk of earthquakes in your region. This knowledge will empower you to take necessary precautions, including obtaining earthquake insurance coverage, retrofitting your home, and creating an emergency plan, ensuring the safety and security of your loved ones and your property.
Choosing The Right Earthquake Insurance Policy
Choosing the right earthquake insurance policy is a crucial step in protecting your property and finances. Living in an earthquake-prone area means that having the right coverage is essential to safeguard against potential damage and the high costs associated with earthquake-related repairs. This article will explore the various aspects you need to consider when selecting an earthquake insurance policy, including the types of coverage available, coverage limits and deductibles, additional coverage options, and the factors that affect earthquake insurance premiums.
Types Of Earthquake Insurance Coverage Available
Earthquake insurance policies offer different types of coverage depending on your needs and preferences. It’s important to understand these options before making a decision. Here are some common types of earthquake insurance coverage:
Building coverage: This type of coverage protects the structure of your property, including walls, floors, and ceilings. It typically includes repairs and rebuilding costs in the event of earthquake damage.
Personal property coverage: This coverage protects your personal belongings such as furniture, electronics, and appliances.
Loss of use coverage: In the event of earthquake damage rendering your property uninhabitable, loss of use coverage provides compensation for temporary living arrangements, such as renting a hotel or apartment.
Additional living expenses coverage: This coverage reimburses you for additional costs incurred while living away from your home, such as increased transportation expenses or extra dining expenses.
Coverage Limits And Deductibles
When choosing an earthquake insurance policy, it’s essential to consider the coverage limits and deductibles. The coverage limit refers to the maximum amount the insurance company will pay in the event of a claim. High coverage limits provide greater protection, but they often come with higher premiums. On the other hand, deductibles are the out-of-pocket expenses you must pay before your insurance coverage kicks in. It’s important to find a balance between a manageable deductible and a reasonable premium.
Additional Coverage Options
Some earthquake insurance policies offer additional coverage options to enhance your protection. These options may include:
Brick or masonry veneer coverage: This coverage specifically includes protection for brick or masonry veneer exteriors, which are susceptible to earthquake damage.
Pool, spa, or detached structure coverage: If you have a pool, spa, or detached structures, such as a garage or shed, this additional coverage can ensure they are adequately protected.
Landscaping coverage: This coverage reimburses you for earthquake-related damage to your landscaping and outdoor features, such as trees, fences, and retaining walls.
Factors Affecting Earthquake Insurance Premiums
The cost of earthquake insurance premiums can vary based on several factors. Understanding these factors can help you make an informed decision. Here are some key factors that influence earthquake insurance premiums:
Location: Properties located in high-risk earthquake zones generally have higher premiums.
Construction type: The materials used in the construction of your property can impact your premium. Buildings that are more resilient to earthquakes, such as steel or reinforced concrete structures, may have lower premiums.
Property value: The value of your property, including the replacement cost, affects the premium. Higher-value properties usually result in higher premiums.
Deductible amount: Opting for a higher deductible can lower your premium, but it also means a greater out-of-pocket expense in the event of a claim.
Claims history: If you have a history of filing multiple claims, it can increase your premium due to the perceived higher risk.
By understanding the types of earthquake insurance coverage available, coverage limits and deductibles, additional coverage options, and the factors that affect earthquake insurance premiums, you’ll be better equipped to choose the right policy for your needs. Remember to evaluate your specific situation and consult with insurance professionals to ensure adequate protection for your property and peace of mind.
Filing A Claim For Earthquake Damage
Steps To Take After An Earthquake
Experiencing an earthquake can be a frightening and devastating event. Once the shaking stops and you have ensured your safety, it is crucial to take prompt action to protect your property and initiate the claims process for earthquake damage insurance. Here are some important steps to follow:
Safety first: Before assessing any damage or filing a claim, make sure to prioritize personal safety. In the event of an aftershock or structural instability, it is important to evacuate the premises and seek shelter until it is safe to return.
Document the damage: Thoroughly inspect your property and document all the damages caused by the earthquake. Take clear photographs or videos of each affected area, including structural damage, possessions, and personal belongings. Detailed documentation is essential for filing an insurance claim.
Contact your insurance provider: Notify your earthquake insurance provider as soon as possible after the earthquake. Share the detailed information about the damages and provide the necessary documents, including photographs, videos, and any relevant receipts or invoices.
Secure your property: In order to prevent further damage to your property, take immediate steps to secure it. This could involve covering broken windows, stabilizing structural elements, or boarding up damaged areas. However, it is important to always prioritize personal safety during these activities.
Documenting Earthquake Damage For Insurance Claims
When it comes to filing an earthquake insurance claim, proper documentation plays a vital role in ensuring a smooth and successful process. Follow these guidelines for documenting the earthquake damage:
Photographs and videos: Capture clear images and videos of damaged areas from multiple angles. This will provide evidence of the extent of the destruction caused by the earthquake.
Inventory of damaged belongings: Create a detailed inventory of damaged personal belongings, including their approximate value and original purchase price. Keep any relevant receipts or invoices, as this documentation will support your claim.
Expert assessments: If needed, seek professional assessments or evaluations of the damages caused by the earthquake. Reports from qualified experts can provide additional credibility to your claim.
How To File An Earthquake Insurance Claim
Filing an earthquake insurance claim requires attention to detail and adherence to the insurer’s specific guidelines. To ensure a smooth process, follow these steps:
Contact your insurance provider: Reach out to your earthquake insurance provider as soon as possible after the earthquake occurs. Report the details of the damage and request guidance on how to proceed with filing a claim.
Provide necessary documentation: Submit all the required documentation supporting your claim, including photographs, videos, inventory lists, and any expert assessments. Make sure to provide accurate and complete information to expedite the claims process.
Cooperate with the claims adjuster: Once your claim is submitted, an insurance claims adjuster will be assigned to assess the damage. Cooperate fully with the adjuster, providing access to the damaged areas and any additional information they may require.
Review the settlement offer: After evaluating the damages, the insurance company will present a settlement offer. Carefully review the offer to ensure it covers all the damages sustained and aligns with the terms of your policy. Seek clarification or negotiate if necessary.
Accept or appeal the settlement: If you are satisfied with the settlement offer, accept it and follow any instructions provided by the insurer. If you believe the offer is insufficient, consult with a professional to understand your options for appealing or negotiating a higher settlement.
Understanding The Claims Process And Timeline
It is essential to have a clear understanding of the claims process and timeline for earthquake insurance. While each insurer may have variations, the following general outline can help prepare you:
Step
Description
1
Filing the claim
2
Claim review and assessment
3
Settlement offer
4
Settlement acceptance or negotiation
5
Claim payment
While the duration of each step may vary, it is advisable to follow up with your insurer throughout the process to ensure timely progress and resolution.
Tips For Mitigating Earthquake Risks At Home
Living in an earthquake-prone area requires a proactive approach to protect your home and loved ones. By implementing these tips for mitigating earthquake risks at home, you can minimize the potential damage and ensure a safer living environment.
Strengthening The Foundation And Structure Of Your Home
One of the crucial steps in earthquake preparedness is to reinforce the foundation and structure of your home. By following these strategies, you can significantly enhance the resilience of your property:
Schedule a professional inspection of your home’s foundation to identify any existing weaknesses.
Reinforce the foundation with steel braces or anchor bolts to enhance its stability.
Consider installing plywood shear walls or using structural sheathing for added strength.
Retrofitting Techniques To Minimize Earthquake Damage
Another effective way to reduce earthquake risks is through retrofitting your home. Retrofitting involves making modifications to strengthen weak areas prone to damage during seismic events. Here are some commonly used retrofitting techniques:
Retrofitting Technique
Description
Bolting
Securing the wooden frame of your home to its concrete foundation using anchor bolts.
Bracing
Adding structural supports and braces to improve the stability of your home’s walls, ceilings, and floors.
Cripple Wall Strengthening
Fortifying the short wood-framed walls between the foundation and the first floor to prevent collapse.
Securing Furniture And Valuable Items
To prevent injuries and damage during an earthquake, it’s essential to secure your furniture and valuable items. Consider the following precautions:
Attach heavy furniture to the walls using brackets or straps.
Store delicate or valuable objects in cabinets or on lower shelves to decrease the risk of falling.
Use non-slip pads under appliances and electronic equipment to prevent their movement during tremors.
Creating An Emergency Preparedness Plan For Earthquakes
Developing an emergency preparedness plan is crucial for ensuring your safety during an earthquake. Consider these important steps:
Create an emergency kit that includes essential supplies such as food, water, medication, and a first aid kit.
Identify safe spots in your home, such as under sturdy furniture or in a doorway, to take cover during an earthquake.
Establish a communication plan with your family members, including designated meeting places if you get separated.
Practice earthquake drills regularly to ensure everyone knows what to do in an emergency.
Credit: www.statefarm.com
Frequently Asked Questions For Earthquake Insurance
Is Earthquake Insurance Worth Getting?
Yes, earthquake insurance is worth getting as it provides financial protection against the costly damages caused by earthquakes. It helps cover repairs, rebuilding, and replacing damaged belongings, making it a valuable investment for homeowners in earthquake-prone areas.
What Does Earthquake Insurance Actually Cover?
Earthquake insurance typically covers damage caused by earthquakes, such as structural damage to your home, personal property destruction, and even additional living expenses. It helps protect you financially in the event of any earthquake-related losses or repairs.
What Is The Average Cost Of Earthquake Insurance?
The average cost of earthquake insurance varies based on factors like location, home value, and coverage amount. Policies usually range from $100 to $500 per year.
Can I Buy Earthquake Insurance Separately?
Yes, earthquake insurance can be purchased separately from other types of insurance.
Conclusion
In the event of an earthquake, having insurance coverage can provide much-needed financial protection for your property and belongings. Earthquake insurance helps to minimize the impact of potentially devastating losses, giving you peace of mind. With the increasing frequency of seismic activities, it is essential to consider the benefits of this type of insurance.
Don’t wait until it’s too late; protect your assets and secure your future today.
Protesters continued to clash with police in Nairobi, Kenya, as demonstrations that started over a controversial finance bill morphed into calls for President William Ruto to resign and anger over police brutality. CBS News foreign correspondent Debora Patta reports.
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The South Island of New Zealand is the country’s larger (but less-populated) island…but it’s also the most visually stunning. With just 23% of the country’s 5.2 million inhabitants, it’s a dramatic and beautiful island, home to wineries, wildlife, high-octane adventure sports, and pristine beaches. This is the island that people end up spending more time in and, while everyone sticks to just a few locations, there’s a lot of hidden areas here worth exploring.
At a minimum, you’ll want to spend two weeks exploring. Anything less than that and you’ll feel rushed. As I said, there’s a lot to see here. That way you can see the big draws, get off the beaten path, do some good hiking, and not rush (travel between places can take longer than you think)!
With two weeks to traverse New Zealand’s South Island, what route should you take? Where should you start, and where should you finish?
Below is my suggested itinerary to help you plan your South Island road trip to will ensure that you see the highlights, make the most of your time, and get off the beaten path.
New Zealand Highlights: South Island
Just looking for a few pointers to start your planning? These are things I think every visitor should experience:
Looking to see the other island? Check out my detailed road trip itinerary for the North Island!
Choosing the Right Vehicle
Before you plan your route, you need a way to get around. Road-tripping New Zealand by campervan is very popular, especially among budget-conscious travelers, as the vehicle serves as both accommodation and transportation. If you want a campervan, there are five main rental agencies:
Prices vary a lot. Your daily rate will change depending on where you pick up the vehicle, if you are dropping it off at a different place, how long you are renting it for, how far in advance you book, and when during the year you book (in the high season, prices seem to double!).
If living out of a van for a few weeks doesn’t sound like your idea of a fun time, simply rent a normal car and book accommodation along the way. Discover Cars is my go-to rental site, as they search rental agencies big and small to find the best deals.
You can use this widget to get a free quote for your car rental:
New Zealand Road Trip Itinerary: A Two-Week South Island Route
Start your trip in Queenstown. Even if your international flight lands in Auckland on the North Island, you can easily get a cheap flight to Queenstown, which also has direct flights to many major cities in Australia if your trip to New Zealand is part of a larger adventure.
Days 1–3: Queenstown Queenstown is a picturesque town overlooking Lake Wakatipu and surrounded by the beautiful peaks of the Remarkables mountain range. It has an outdoorsy energy, with pedestrian lanes filled with shops and restaurants. Even though it has become hugely popular, I cannot express my love of Queenstown enough. I love sitting by the lake, watching the sunset with a bottle of wine, and hiking the nearby trails.
Queenstown is also known as “the adventure capital of New Zealand.” It’s the launching pad for every sort of adventure activity you can think of, including zip-lining, bungee jumping, canyon swinging, rafting, and even skydiving. You can also try more unique activities like river surfing, jet-boating, go-karting, paddle-boarding, and paragliding.
For something more laid-back, take a wine tour in and around Queenstown. I always do this when I visit (the grape of choice here is the light-red Pinot Noir). If wine isn’t your thing, enjoy a relaxing cruise on Lake Wakatipu for some stunning views!
For a list of more things to do in Queenstown, check out my detailed guide.
Where to Stay: Nomads Queenstown – Most rooms in this social hostel have balconies, the showers have excellent water pressure, and the pillows are thick and comfy. There are activities every night and a free dinner and quiz night on Sunday. It’s a fun and affordable place to stay.
Days 4–6: Fiordland Named for its resplendent fjords (long, narrow inlets banked by steep cliffs, created by glaciers), Fiordland is one of the country’s most scenic and remote regions. (It’s home to numerous Lord of the Rings filming locations). Boasting gigantic mountains, deep lakes, swelling rivers, and untamed forests, the land is officially off-limits so as to protect these natural resources.
I loved the area here. There’s a lot of good hiking and beautiful views. There are many fjords and sounds to explore in Fiordland National Park, but I particularly love Milford Sound. This amazing fjord is best known for the towering Mitre Peak and its surrounding rainforest. You can stroll the wooded shoreline trail for perfect views of the peak, or take the Chasm Walk on the Cleddau River to get close to powerful waterfalls.
The fjord itself is home to seal and penguin colonies. You can often see pods of dolphins frolicking in the waters too. Explore by boat and check out the Milford Discovery Centre and Underwater Observatory to see rare black coral and other underwater life. Southern Discoveries is the only company doing cruises that include the Underwater Observatory, starting from 165 NZD.
While less well known than Milford, Doubtful Sound is the deepest and second-largest fjord in the country. You can only get to Doubtful via boat. A wilderness cruise of Doubtful Sound costs 299 NZD.
If you like hiking, one of the most popular walks in the national park is the Kepler Track, passing under snow-covered mountain peaks and lush verdant forests. It’s very close to the Te Anau basecamp, and the easy access and scenic views along the way make it a great choice. The whole loop is 37 miles (60 kilometers). It takes three or four days to complete.
Note: There’s limited bus service in the area so having a car here would be very helpful.
Where to Stay: Milford Sound Lodge – This is the only place to stay nearby. It’s not cheap, but the views are unmatched, the complimentary breakfast is delicious, and the contemporary rooms are cozy yet modern. If you don’t mind driving a bit more, you can stay in the closest town, Te Anau.
Days 7–8: Wanaka Wanaka is a resort town framed by snow-capped mountains. As nearby Queenstown has become overcrowded in recent years, travel to Wanaka has exploded (and, in a way, also become overcrowded because it’s super small). It’s become popular with backpackers and outdoor enthusiasts, especially skiers and boaters. There’s not a ton to do besides enjoying the outdoors (which is what I love about it). Most people come for a few nights to hike (or ski in the winter), relax, and move on.
Wanaka has become something of a smaller version of Queenstown, so you can expect plenty of adventure sports opportunities. I’m not an adrenaline junkie (and I don’t like heights). But if it’s your cup of tea, you can go skydiving, canyoning, rock-climbing, paragliding, jet-boating, or mountaineering, along with scores of other activities that will get your heart pounding.
You can take a happy hour boat cruise, go fishing or hiking, or do another wine tour (there’s no such thing as too many wine tours!).
The food scene here is really great too.
For a list of more things to do in Wanaka, check out my detailed guide.
Where to Stay: Mountain View Backpackers – This social hostel has a huge outdoor space with a grill, and a big table to congregate around that makes meeting people a breeze. I had many enjoyable nights spent drinking wine outside here while I chatted with other travelers.
Day 9: Franz Josef Glacier In 1865, Julius von Haast christened the large, beautiful glacier on the South Island of New Zealand “Franz Josef Glacier” after the then-monarch of the Austro-Hungarian Empire. The name stuck, and today the glacier is a major tourist attraction.
Hiking the glaciers is an unforgettable experience. Sadly, because they have receded and are melting quickly due to climate change, the caves and trails have been shut down. Now, the only way to trek on them is via heli-hike (an epic half-day or full-day helicopter/hiking experience). These are expensive (500 NZD), but the helicopter ride, trekking, and experience as a whole are worth the price in my opinion. It’s one of those once-in-a-lifetime experiences you won’t regret.
Conversely, you can just hike to the glacier face and take photos from a distance. There are tons of viewing points (where you’ll also see sobering photos of just how far the glaciers have receded over the years).
There are also a lot of activities to do nearby. You can go trekking through a rainforest (yes, there is a rainforest nearby), admire towering waterfalls, and swim (or go kayaking) in pristine lakes. There are also some natural thermal pools that you can take a soak in to soothe your post-hike muscles.
Where to Stay: Chateau Backpacker & Motels – Just a ten-minute drive from the glacier, this accommodation offers guests free homemade soup every night and free breakfast (including homemade waffles and pancakes). It has two communal kitchens if you want to cook, and a hot tub for relaxing. It’s a lively, social spot.
Days 10–11: Abel Tasman National Park Drive just six hours north of glacial Franz Josef and you’ll be in beachy Abel Tasman National Park, New Zealand’s smallest national park. With its turquoise water, dense jungles, and warm temperatures, you’ll feel like you’re in the tropics rather than New Zealand. It covers over 23,876 hectares (59,000 acres), meaning there are a lot of single and multiday hikes. The most famous is the 3-5-day Abel Tasman Coast Track, one of the Great Walks of New Zealand.
The best way to see the park is by kayak. That way, you can explore all the little coves and beaches that really make the area special. Full-day rentals start at around 110 NZD, or you can join a guided kayaking tour starting at 190 NZD. You can also take a scenic cruise around the park for 95 NZD.
If you’re aching for some serious surf, sand, and sun time, head to Te Puketea Bay. This pristine, crescent-shaped beach hugs up against turquoise waters, and lounging here is worth the journey to Abel Tasman alone. You can also walk up to the centuries-old Maori fort, called Pa, for excellent views of the surrounding nature.
Where to Stay: Marahau Beach Camp – This accommodation offers dormitories and small private cottages, a communal kitchen, and a seasonal restaurant. There are also tent and campervan sites if you want to save money. It’s a chill, no-frills spot.
From here, pick your last stop: either drive onward to Christchurch and end there, or take the ferry over to Wellington (an adventure in and of itself!) and end there. Either way, you’ll be able to catch a cheap and quick flight back to Auckland for your international flight home.
If you’re heading to Christchurch, keep reading. If you’d like to visit Wellington, check out my North Island itinerary here.
Days 12–14: Christchurch Though severely damaged by earthquakes in 2010 and 2011 (over 185 people were killed and 3,000 buildings were damaged), Christchurch has rebounded and evolved into a brand-new city. This revival has instilled a newfound sense of hope and vibrancy, with more funky bars and markets, as well as new restaurants, shops, and exhibits. The locals have worked hard to rebuild, and there is a community spirit here that really shines. I love where Christchurch is going and I’m happy to see its revival.
While there’s not a lot “to do” per se, the vibe is really relaxed, and it’s worth taking your time if you can. Be sure to ride the gondola, visit the Canterbury Museum, and tour Quake City (a unique and interactive museum that recounts personal stories from the 2010 and 2011 earthquakes).
For a list of more things to do in Christchurch, check out my city guide.
Where to Stay: Urbanz– This is an awesome hostel downtown, with friendly staff and a huge kitchen. There’s also a bar, a pool table, fast Wi-Fi, laundry, movies, and comfy couches, as well as a parking lot.
Things to Remember When Road-Tripping New Zealand
To help you make the most of your road trip, please remember the following rules:
Traffic flows on the left here (not the right, like in the US or Canada).
You must always park your car in the direction that traffic is going (or risk a fine).
There are plenty of pull-off points for taking photos — use them instead of stopping at a random spot along the side of the road, which can be quite dangerous given how tight the roads are here.
Roads here are winding, so remember that it might take longer than you expect to cover a particular distance.
As long as your current and valid driver’s license is in English, you don’t need an International Driver’s Permit.
If you’re traveling by campervan, use the CamperMate app to find nearby campsites, gas stations, and dump stations.
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New Zealand’s South Island is an unforgettable destination, where I always have a blast. It’s a region loaded with epic landscapes, friendly Kiwis, and a rich culture. After visiting a bunch over the past decade and a half, I’ve learned firsthand how awesome a road trip there can be. Just follow the route above and you’ll be guaranteed to have an epic visit to this picturesque isle!
Book Your Trip to New Zealand: Logistical Tips and Tricks
Book Your Flight Use Skyscanner to find a cheap flight. They are my favorite search engine because they search websites and airlines around the globe so you always know no stone is left unturned!
Book Your Accommodation You can book your hostel with Hostelworld as they have the biggest inventory and best deals. If you want to stay somewhere other than a hostel, use Booking.com as they consistently return the cheapest rates for guesthouses and cheap hotels.
If you’re looking for specific places to stay, here is a complete list of my favorite hostels in New Zealand.
Don’t Forget Travel Insurance Travel insurance will protect you against illness, injury, theft, and cancellations. It’s comprehensive protection in case anything goes wrong. I never go on a trip without it as I’ve had to use it many times in the past. My favorite companies that offer the best service and value are:
Looking for the Best Companies to Save Money With? Check out my resource page for the best companies to use when you travel. I list all the ones I use to save money when I’m on the road. They will save you money when you travel too.
Want More Information on New Zealand? Be sure to visit our robust destination guide on New Zealand for even more planning tips!
Sean “Diddy” Combs will remain in federal custody on sex trafficking and racketeering charges after a judge refused to grant him bail.
During a court hearing in New York on Tuesday, September 17, prosecutors argued that the music mogul should be held without bail pending the outcome of the trial.
According to Variety, prosecutors alleged that Diddy, 54, is a flight risk and his wealth could allow him to flee the country undetected.
As for Diddy’s attorney Marc Agnifilo, he urged the judge to release him on a $50 million bond, which would be secured by property in Miami. Agnifilo also argued that Diddy had worked toward earning the trust of the court by returning to New York from Miami “to turn himself in.”
The judge ultimately decided that there were no conditions that could guarantee Diddy’s appearance in court.
Us Weekly has reached out to Diddy’s team for comment on the court hearing and ruling.
On Monday, September 16, Diddy was arrested in New York City amid his multiple sexual assault lawsuits and a federal investigation.
One day later, Diddy was indicted on charges of sex trafficking and racketeering. The 14-page indictment details a barrage of accusations against the rapper.
Backgrid/MEGA
Diddy allegedly “abused, threatened and coerced women and others around him,” the indictment stated. Some of the alleged incidents, which the indictment claimed were carried out to fulfill “his sexual desires, protect his reputation and conceal his conduct,” date back to 2009.
During Tuesday’s hearing, Diddy pleaded not guilty to all charges.
Previously, his attorney reacted to the music mogul’s arrest by stating he is an imperfect person, but not a criminal.
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Related: Eyebrow-Raising Quotes About Diddy’s Alleged Behavior Over the Years
Years before two of Sean “Diddy” Combs’ homes were raided in connection to a federal sex trafficking investigation, there was conversation about what went on at the rapper’s residences. After the March 2024 raid made headlines, a clip resurfaced of Usher recalling his experience living with Diddy as a teenager. “I got a chance to […]
“We are disappointed with the decision to pursue what we believe is an unjust prosecution of Mr. Combs by the U.S. Attorney’s Office,” Agnifilo told Us in a statement. “Sean ‘Diddy’ Combs is a music icon, self-made entrepreneur, loving family man, and proven philanthropist who has spent the last 30 years building an empire, adoring his children, and working to uplift the Black community.”
Agnifilo added, “He is an imperfect person, but he is not a criminal. To his credit, Mr. Combs has been nothing but cooperative with this investigation and he voluntarily relocated to New York last week in anticipation of these charges. Please reserve your judgment until you have all the facts. These are the acts of an innocent man with nothing to hide, and he looks forward to clearing his name in court.”
If you or someone you know has been sexually assaulted, contact the National Sexual Assault Hotline at 1-800-656-HOPE (4673).
When comparing 529 plans, you need to both look at performance and fees.
Two researchers at the University of Kansas School of Business have identified problems in how some states manage their 529 college savings plans. They suggest that these problems are caused by conflicts of interest, inadequate oversight, and a lack of investment sophistication by the state sponsors.
According to the College Savings Plan Network, a total of $508 billion is invested in 16.8 million 529 college savings plans as of June 30, 2024.
The result is that consumers who use 529 plans in certain states could be paying excess fees (as a result of these conflicts of interest), which lower their investment returns over time. If able to make a choice, consumers should opt for the lowest plan fees possible to maximize returns.
You can find your state’s plan and see the fees in our 529 Plan Guide By State.
Characteristics of 529 Plan Fees
Justin Balthrop and Gjergji Cici of the University of Kansas analyzed 5,339 unique investment options across 86 state 529 college savings plans for their paper, Conflicting Incentives in the Management of 529 Plans.
Two-thirds of the 529 plans are direct-sold and one-third are advisor-sold. Only 10% of the plans are managed in-house, with the rest outsourced to external program managers. A third have revenue-sharing agreements with the underlying mutual funds.
About half of the total fees from 529 plans go to the state, the program managers, and various intermediaries.
The administrative asset-based fees for 529 plans are five times greater than the similar fees for managing a retirement plan.
The average 529 plan fees include the following:
State Fees: 0.04%, but can be as high as 0.26%
Program Manager Fees: 0.16%, but can be as high as 1.15%
Distribution Fees: 0.23%, but can be as high as 1.10%
Underlying Fund Fees: 0.38%, but can be as high as 1.29%
The overall expense ratio – the sum of all asset-based fees – averages 0.81% with a standard deviation of 0.53%. The expense ratio can be as high as 2.49%.
Given that the average return on investment for a 529 plan is about 6% based on historical performance data, some states and program managers are extracting a significant portion of investor returns for their own benefit.
In some cases, families would be better off saving in taxable accounts.
States With The Highest 529 Plan Fees
According to the most recent Saving For College 529 Plan Fee Study, here are the states with the highest fees. This study looks at the 10-years costs of a $10,000 investment for direct-sold plans. It’s important to note that advisor-sold plans can have much higher fees.
Comparing the most expensive plan option to the least expensive option, South Dakota College Access 529 charges over 10x the fees of the Lousiana START Savings Program.
The 10 most expensive 529 plans in the United States all charge almost 3x the of fees of the 10 least expensive plans in the United States.
Here are the 10 most expensive 529 plans in the United States (remember, each state can, and typically does, have multiple plan options):
Analysis of the most expensive 529 plans by state. Source: The College Investor
You can compare the above states and plans with the options below. We’re highlighting the HIGHEST cost option in the state. Louisiana does offer a plan with $0 costs, which is a fixed income plan managed directly by the state treasurer, but this plan is only open to in-state residents.
Analysis of the least expensive 529 plans by state. Source: The College Investor
Tradeoff between State Revenue and Program Quality
Some states charge higher fees than other states, but this generally does not yield an improvement in program quality. In fact, quite the opposite.
The 529 plans in states that extract more revenue from the 529 plans offer more limited investment options that charge higher fees and provide inferior net performance. The increase in the underlying fund fees is about a quarter of average mutual fund fees.
The higher-cost 529 plans offer fewer investment options and are less likely to offer low-cost index funds. These states also do not provide additional or better state income tax breaks.
The University of Kansas researchers found that investment options from plans where states extract the most revenue have an average underlying fund expense ratio of 0.506%, while investment options from states that extract the least revenue have an average underlying expense ratio of 0.219%. Thus, when a state extracts more revenue from the state’s 529 plan, the expense ratio is more than twice as high (2.3x higher).
The University of Kansas researchers also used Sharpe Ratios calculated by Morningstar for all the 529 plans, showing that investors in these higher-cost 529 plans experience worse performance.
A Sharpe Ratio is a risk-adjusted return on investment. It is the 529 plan’s return on investment minus the risk-free rate of return and divided by the standard deviation of the excess return. A higher Sharpe Ratio is better.
The 529 plans from states that extract more revenue from the 529 plans have a lower Sharpe Ratio than 529 plans from states that extract less revenue, a sign that the investment plan performance, net of fees, is inferior. The Sharpe Ratios in the 529 plans in the high revenue-extraction states are 20% lower than the Sharpe Ratios in the states that extract the least revenue from the 529 plans.
Related: Best 529 Plans Based On Performance
Conflicts of Interest
Since 529 plans generate revenue for the states and program managers, there is potential for conflicts of interest.
Incentives for the state are not necessarily aligned with the best interests of plan participants.
States get higher fees in exchange for providing program managers with more flexibility to extract more revenue, directly and indirectly, from plan participants.
529 plans often include investment options from the program manager’s own mutual funds and from investment firms with which the program manager has revenue-sharing agreements.
529 plans with revenue-share agreements have underlying fund fees and total expense ratios that are 0.08% and 0.18% higher than other 529 plans.
Some examples the report highlighted were plans using excess fees to fund other state initiatives. Or there being a dis-incentive to negotiate better fees for investors since states enjoy the excess revenues. In the most egregious form, 529 plan fees may be used to fund advertising campaigns that some critics have called political campaigning, rather than investor education.
Lax Oversight
There is very little effective oversight over the management of 529 plans.
529 plans are exempt from the Investment Company Act of 1940 and Securities Act of 1933. They are not required to register with the Securities and Exchange Commission (SEC), so the SEC is not a source of investor protection. SEC rules concerning investment disclosure do not apply to the 529 plans.
529 plans are not subject to a fiduciary standard. However, SEC regulations do require investment advisors, such as those that recommend advisor-sold 529 plans, to disclose conflicts of interest and consider costs when recommending products. The SEC’s Regulation Best Interest (Reg BI) is not quite a fiduciary standard, just a suitability standard. It does not apply to the 529 plans themselves, just the investment advisors.
The states provide some oversight by appointing advisory boards. However, the politically-appointed advisory boards may lack the financial sophistication needed to align the 529 plan with the best interests of investors.
Program managers often provide more fee revenue to the states that have weaker oversight.
Inadequate disclosures make it harder for investors to make informed decisions. There aren’t any uniform disclosure practices that are standardized across all 529 plans.
States that charge higher fees, which affects the net return on investment, do not provide better benefits for investors.
The states provide some oversight by appointing advisory boards. However, the politically-appointed advisory boards often lack the financial sophistication needed to align the 529 plan with the best interests of investors.
States that charge higher fees, which affects the net , do not provide better benefits for investors.
Program managers often provide more fee revenue to the states that have weaker oversight.
Inadequate disclosures make it harder for investors to make informed decisions. There aren’t any uniform disclosure practices that are standardized across all 529 plans.
Comparing 529 Plans: Tips for Investors
Minimizing costs is the key to maximizing net returns.
Higher fees are not associated with a better net performance after subtracting the fees from investment returns. The investment options do not necessarily provide better returns on investment. Even when they do, the increased returns are not enough to compensate for the higher fees.
So, investors should choose the state 529 plans with the lowest fees.
There is often a tradeoff between low fees in an out-of-state 529 plan and state income tax breaks for contributions to the state’s own 529 plan. There is an inflection point between choosing low fees and state income tax breaks when the child enters high school. Keep the following in mind, if choosing a 529 plan in the future:
When the child is young, the families should focus on 529 plans that have lower fees.
When the child enters high school, new contributions should be directed to that state’s 529 plan if the state offers a state income tax break on contributions to the state’s 529 plan.
Low fees apply to the entire 529 plan balance, while the state income tax break applies only to each year’s new contributions.
Morningstar.com and Savingforcollege.com provide ratings of 529 plans that consider the net return on investment after subtracting the fees. Savingforcollege.com also publishes a that evaluates the impact of the range of fees charges by each direct-sold 529 plan’s investment options.
For a better understanding of contributing to a 529 plan in your state and what fees are involved, check out our complete 529 guide.
