You, too, can be a millionaire

And more of the week's best financial advice

The odds are in your favor.
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Here are three of the week's top pieces of financial advice, gathered from around the web:

You, too, can be a millionaire

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Protecting your home from theft

"Before you head out on vacation this month, here's another item for your to-do list: Make sure your home isn't a target for burglars," said Kelli B. Grant at CNBC. Theft-related insurance claims peak in August, which sees 13 percent more claims than other months. The best defenses are often low-tech, like having your mail and newspapers held. "Ask a trusted friend or neighbor to keep up with regular chores like mowing the lawn and putting the trash cans out." Make sure you have enough insurance to replace valuables whose coverage may be limited in a typical homeowners policy, such as jewelry, which "is often capped at $1,000." It also helps to keep a home inventory, to provide documentation in case you need to make a claim.

Tapping into life insurance

Life insurance's main purpose is to pay out a death benefit, but "that doesn't mean you can't also reap the benefits of these policies while you're still alive," said Maryalene LaPonsie at US News. Although most people opt for basic term life insurance, permanent life insurance "has an investment component that allows policies to build a cash value over time." Policyholders can tap into that money in several ways. They can take out a loan from the cash value, though it will accumulate interest charges. They can also withdraw money, or surrender the policy altogether, releasing its entire cash value. Policies can also be sold in exchange for a lump sum or an annuity. In that case, "it's best to work with an experienced broker to get the best payout possible."

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