BIF Bites: CFP and Financial Planning Resource Center

Life, Liberty & the Pursuit of Coverage | BIF Bites

Written by Madison Kalm | Jun 26, 2026 4:07:14 PM

What do fireworks, backyard parties, and financial planning have in common? More than you might think. In this festive Fourth of July episode, Jerry Mee, CFP®,, Tiffany Guy, CFP®, and Kaylee Benting explore how different types of insurance, including homeowners, auto, umbrella, and pet insurance, can protect you when unexpected accidents happen. Along the way, they share memorable real-life stories, explain key CFP® exam concepts, and discuss practical strategies for managing risk before disaster strikes. Whether you're studying for the CFP® exam or simply want to better understand your coverage, this episode delivers timely insights with plenty of laughs.

3 Takeaways

  • Learn when homeowners, auto, umbrella, and medical coverage apply during common Fourth of July scenarios.
  • Understand the four risk management strategies: avoidance, reduction, retention, and risk transfer.
  • Review important CFP® exam concepts, including liability limits, homeowners coverages, and subrogation, through real-world examples.



Try The BIF Review FREE for 30 Days

The BIF Bites Podcast offers great tips and helps reinforce your learning, but The BIF Review will provide the instruction and support you need to get exam ready. Try it free for 30 days and see how we've helped thousands of CFP® candidates pass the exam and earn their marks.