The collapse of the Francis Scott Key Bridge in Baltimore was a dramatic example of an unexpected event with major consequences on the economy and global trade. Despite what was in place to protect the bridge’s supports, the ship that caused the collapse, the MV Dali, is a neopanamax vessel, built to travel through the expansion of the Panama Canal that only opened in 2016. Far larger than those that existed when the bridge was built in the 1970s, the protective mechanisms were not sufficient to stop the Dali when its navigation ability was lost due to engine failure.
It will be months before investigations into the cause of what happened are finished, but the effects were immediate: the complete shutdown of one of the largest ports on the East Coast of North America, which also happens to be the most important for the importation of automobiles into the United States. It is also expected to result in perhaps the largest-ever insurance payout for a marine loss, the effects of which will ripple out for years to come.
Although such events are impossible to predict, you can still prepare for their likelihood with a wise, diversified financial strategy. Let’s talk about how to make sure you’re as ready as can be for the undiscovered country of the future.
![](https://dmbrenner.com/dmbrenner/wp-content/uploads/2024/04/bridge.jpg)
The Baltimore bridge disaster: what happened and who will pay?
March. 27, 2024
Collapse will cause economic damage and bring new focus on quality of US infrastructure.
![](https://dmbrenner.com/dmbrenner/wp-content/uploads/2024/04/improve-life.jpg)
3 Ways The Late Daniel Kahneman Has Improved Your Life (Whether You Know It Or Not)
April. 01, 2024
There are people who change your life because of their proximity to you and yours—and then there…
![](https://dmbrenner.com/dmbrenner/wp-content/uploads/2024/04/tax-time.jpg)
Tax Deadline Is Near. Don’t Miss These Last-Minute Tips.
March. 28, 2024
Consider all deductions and credits as you prepare your tax return. You may be missing out.
![](https://dmbrenner.com/dmbrenner/wp-content/uploads/2024/04/magic-number.jpg)
The New Magic Number for Retirement Is $1.46 Million. Here’s What It Tells Us.
April. 02, 2024
The stock market gave 401(k)s a 19% boost last year. Inflation cooled. Still, lots of people feel…
![](https://dmbrenner.com/dmbrenner/wp-content/uploads/2024/04/mutual-funds.jpg)
The mutual fund at 100: is it becoming obsolete?
March. 27, 2024
They enabled millions to invest in the stock market, but newer, nimbler products are reshaping…
![](https://dmbrenner.com/dmbrenner/wp-content/uploads/2024/04/9fd0d601-51e8-4b74-9e2c-535f2d1421cc.jpg)
10 things turning 100 in 2024, from Band-Aids to Popsicles
April. 01, 2024
The year 2024 marks the 100th anniversary of famous events, brands, and inventions that have…