The Clark Howard Podcast | Episode: 04.13.26

Self-Storage Savvy / Heir Apparent: Plan & Preserve Your Estate

Date: April 13, 2026
Host: Clark Howard | Co-host: Krista

Overview

This episode of The Clark Howard Podcast is devoted to two major personal finance topics:

1. Self-Storage Units: Clark exposes industry “bait and switch” practices, offers actionable advice for renting, insuring, and securing storage units, and shares his own personal experiences.
2. Estate Planning: Clark emphasizes the importance of proactive estate and inheritance planning to prevent family discord, outlines practical steps to preserve assets, and answers listener questions on generational wealth tools, insurance, education financing, and secure digital account access.

The episode weaves in Clark’s consumer-first mentality, emphasizing open communication, skepticism of industry tactics, and simple, actionable financial wisdom.

1. Self-Storage Savvy

(Begins at 01:05)

Why Talk About Storage Units?

• Clark has rented storage units three times over the past decade, joining the "1 in 5 Americans" with units.
• He reveals that his awareness of storage unit problems (theft, rodents, floods, bait-and-switch pricing) originally came from consumer reporting and was supercharged by personal experience.

Major Issues and “Bait and Switch” Pricing

[01:35] Notable Quote — Clark Howard:

"It is a bait and switch business. You're lured in with a price on a unit...then three months in, usually at most five or six months in, you get a notice of your new rent rate. That can be three times what you signed up for. Yeah, three times."

Key Insights:

• Initial Prices Are Traps: Storage companies bait customers with attractive intro rates, then jack up prices 2-3x after a few months, knowing the hassle of moving will deter customers from leaving.
• Clark’s “Move 4 Doors Down” Story: When his storage rent spiked, he threatened to move out. The manager offered him the original rate if he shifted his stuff a few doors down. Later, paying a year upfront secured the rate, but Clark warns there’s risk if ownership of the facility changes.
• U-Haul Price Locks: Some companies, including U-Haul, now offer a one-year price lock, which Clark endorses.

Practical Advice for Renters

[05:37] Clark’s Checklist:

• Insure Your Contents:
  • Do not rely solely on homeowners insurance; consider a separate policy.
  • If the unit offers insurance, read the fine print about coverage, exclusions, and how payouts are calculated.
• Document Your Belongings:
  • Do a thorough “walk and talk” video inventory to prove ownership if you ever need to claim insurance.
• Be Ready to Walk:
  • Have a backup storage provider in mind; sometimes threatening to move, or even moving, gets you leverage on price.
• Avoid Claims on Homeowner’s Insurance:
  • Filing claims can increase your future premiums or even risk cancellation.

[07:30] Notable Quote — Clark Howard:

"It is a game where they've always got your number and my number and you got to know going in. That's how it works."

Audience Call-to-Action

• Clark invites listeners to share their storage unit tips or challenges via clark.com or through the show’s question form.

2. Listener Q&A: Consumer Finance Topics

(Starts at 08:01)

Bulk Diapers at Costco

• Emily (Illinois): Frustrated with online order delays for Huggies and skeptical of Kirkland diapers.
  • Clark's Response: Try Kirkland—if you dislike them, Costco's return policy has you covered. Always call customer service for missing orders. “Turn adversity into an opportunity.”
  • [08:24] Clark Howard:

  "I would love for you to look at this adversity as opportunity and do an experiment. Buy a box of the Kirkland Signature..."

Home Insurance: Admitted vs. Non-Admitted Carriers

• Joe (California): Forced into a California FAIR plan due to wildfire risk, but broker suggests a cheaper ‘non-admitted’ insurer.
  • Clark’s Caution: Non-admitted insurers are not part of state guarantee funds, so you're on your own if the insurer fails. Ensure your mortgage lender accepts non-admitted coverage to avoid pricey, lender-placed insurance.
  • [11:09] Clark Howard:

  "You're getting a lower premium, but you're hoping that they are going to be solvent. When there is a claim, it's not a scam, it's just an additional potential risk."

Paying Off Debt vs. Savings

• Austin (Alabama): $56k in savings earning decreasing interest; contemplating paying $18k left on a truck loan at 6.51%.
  • Clark’s Advice: If employment is secure, pay off the truck, then rebuild savings with the freed-up monthly payment. Eliminating high-interest debt trumps low-yield savings in the long run.

3. Heir Apparent: Plan & Preserve Your Estate

(Begins at 17:57)

The Stakes of Aging & Inheritance

• With 11,000 Americans turning 65 each day and $100 trillion in assets, inheritance issues are set to soar.
• Not just a “rich people” problem: Clark shares stories of average families torn apart over modest assets.

Preventing Family Conflict

[18:50] Notable Quote — Clark Howard:

"So parents tend to be really, really quiet about what they have and they don't really share with their kids what their intentions are...one of the legacies you don't want to leave is your kids getting sore at each other, not even talking to each other anymore."

Clark’s Estate Planning Rules

• Keep Wills Up to Date: Update regularly, especially if your assets or wishes change.
• Open Communication:
  • Hold ongoing (not one-off) conversations with heirs about intentions and practical details.
  • Avoid secrecy to minimize surprises and hurt feelings.
• Asset Lists: Create and share clear inventories of accounts and locations.
• Healthcare Directives:
  • Assign a durable power of attorney (or advance directive) for medical decisions.
• Clarify Beneficiary Designations:
  • These override a will for items like retirement accounts and insurance. Double-check to ensure wishes match documentation.
• Couple’s Planning:
  • Ensure both partners are on the same page; compromise when necessary.

[22:30] Notable Quote — Clark Howard:

"Whatever's in your will is overridden by beneficiary designations that you've put on bank accounts, brokerage accounts, retirement accounts...the will is one thing, but that beneficiary designation overrules it."

4. Listener Q&A: Estate & Generational Wealth

(Starts at 23:44)

Infinite Banking & Whole Life Policies

• Tyler (North Carolina): Interested in using overfunded whole life insurance and trusts (“infinite banking”) for generational wealth.
  • Clark’s Reality Check: It’s not a “no-brainer”—the upfront costs are high, benefits limited in early years, and missteps can lead to family friction or IRS trouble. Consult a specialist estate attorney before considering complex strategies.
  • [24:46] Clark Howard:

  "The idea is you way overfund a whole life insurance policy...It is not a no brainer because this requires some serious thinking..."

Financing an MBA

• Timothy (New Jersey): Balancing savings/investing with paying for a part-time MBA.
  • Clark’s Strategy: Temporarily reduce 401(k) contributions to just the employer match and pause Roth IRA contributions to free up cash, but keep contributing to an HSA for future tax benefits. Resume heavy retirement saving once the MBA is done.
  • [29:59] Clark Howard:

  "If you reduce your contribution to your 401k up to the match, I would support that...Stop doing the Roth, keep doing the HSA."

Chromebook for Secure Financial Access

• Karen (Connecticut): Uses Chromebook for financial accounts—should she use it for her Social Security account?
  • Clark’s Security Pick: Yes, Chromebooks are less virus-prone than Windows PCs, ideal for sensitive access.
  • [31:54] Clark Howard:

  "I'd use the Chromebook...Using your Chromebook to access your My Social Security account...is absolutely fine."

Notable Quotes & Moments

• On self-storage pricing games:

  "Once they feel they have you as a captive, they're going to eat you up." — Clark Howard, [06:18]

• On estate secrecy and conflict:

  "Think through what your plan is, why your plan is what it is, and have ongoing conversations with your kids about what your intentions are." — Clark Howard, [19:32]

• On complex insurance-based wealth products:

  "The planning for this should start with your estate attorney ... You pay an experienced expert at estate law because you tell them what the goal is." — Clark Howard, [27:29]

• On using adversity as an experiment/opportunity:

  "Turn adversity into opportunity.” — Clark Howard, [08:44]

Timestamps for Key Segments

• 01:05 – Intro to storage unit issues and Clark’s experiences
• 04:14 – Bait-and-switch pricing and how to fight back
• 05:37 – Insurance tips for storage units
• 08:01 – Q&A: Costco diapers, insurance, and debt payoff
• 17:57 – Estate planning intro: why it matters and common pitfalls
• 19:32 – Clark’s family approach to open estate conversations
• 22:30 – Will vs. beneficiary designation—what really matters
• 23:44 – Infinite banking & whole life insurance for generational wealth
• 29:59 – MBA financing strategy
• 31:54 – Secure digital access tips (Chromebook vs PC)

Summary Takeaways

• Storage units can be traps: Know the bait-and-switch tactics, always insure your stuff, and document contents. Don’t be afraid to negotiate or move for a better deal.
• Estate planning is crucial for every family: Clear communication, updated documents, and explicit beneficiary choices prevent family rifts—act before it’s too late.
• Complex financial products: Don’t jump into “infinite banking” or advanced insurance products without expert legal and financial guidance.
• Optimize savings & debt: Weigh interest rates and job security when managing debt versus holding cash.
• Digital security matters: For important accounts, use the most secure, virus-resistant devices available.

Clark’s constant refrain: “Save more, spend less, and never, never, never not ever get ripped off.”
Empower yourself with information—and keep your family out of financial (and emotional) hot water.