A credit portfolio building plan should consist of several components, all interconnected and each a platform for recovery and financial evolution. Viewing credit as portfolio can help convert the traditional holiday churn-and-burn process from an annual ritual of excess and recovery into a new way of life.
Unfortunately, natural disasters, and losses from them, occur each year and will continue to impact people's lives, causing personal and financial loss, and in some cases, even severe financial and economic loss. The income tax rules may provide for a small silver lining if the right circumstances apply.