- I tried to avoid it. I really did, but I’m still getting a much bigger refund than anticipated. #
- Did 100 pushups this morning–in 1 set. New goal: Perfect form by the end of the month. #
- RT @BudgetsAreSexy: Carnival of Personal Finance is live 🙂 DOLLAR DOODLE theme: http://tinyurl.com/ykldt7q (haha…) #
- Hosting my first carnival tomorrow. Up too late tonight. #
- Woot! My boy won his wreslting match! Proud daddy. #
- The Get Home Card is a prepaid emergency transportation card. http://su.pr/329U6L #
- Real hourly wage calculator. http://su.pr/1jV4W6 #
- Took my envelope budget out in cash, including a stack of $2s. That shouldn’t fluster the bank teller. #
Getting Out of Bed
- Image by Wha’ppen via Flickr
Why do you get out of bed in the morning? Is it so you can exercise the privilege of spending 8 hours in a cubicle?
I didn’t think so.
In Okinawa, it’s call the ikigai. In Costa Rica, it’s the plan de vida. It’s your sense of purpose–the reason you get out of bed in the morning. In these cultures, having a strong ikigai can be directly correlated to a statistically extreme lifespan*. All around the world, the plan de vida is the single factor most likely to cause someone to feel they have lived a fulfilled life.
Do you know your ikigai?
For some people, their plan de vida is to successfully raise their children, then their grandchildren. For others, it is charity. Some folks are serial entrepreneurs, always looking for the next deal, the next business. For still others, it is a collection or an urge to travel. There are even some whose sole reason for getting out of bed(other than potty breaks) is work.
The last category is most common with teachers, soldiers, and police. The problem with wrapping so much of your identity up in your profession is retirement. What do you do when your ikigai–your reason to wake up–goes away? In Okinawa, teachers and police tend to have very short retirements because they lose their reason to for living.
What is your plan de vida, your passion? What drives you to keep going? Do you live to write, or to raise your children? Do you <shudder> live solely for someone else’s happiness? When you find it, it will resonate as “this is you”. Finding it is a deep soul-searching, not a light-hearted explanation or a new fad.
Your reasons can, and should, change over time. You can’t live for raising your children years after they have grown up and moved away. Finding this one factor in your life can be the thing that leaves you on your deathbed looking back with a smile instead of regret.
What is your plan de vida?
* From The Blue Zones: Lessons for Living Longer From the People Who’ve Lived the Longest
Real Estate Customer Life Cycle
Recently, my wife and I have been searching for new tenants for our rental property. That’s an irritating customer cycle. We’ve had more no-shows at the showings than we’ve had prospects show up. Most people who call seem to think that the rent on a 2 bedroom, 1.5 bathroom house with a big yard and a 3 car garage 5 minutes from downtown Minneapolis is going to match their little subsidized Section 8 apartment.
Not going to happen.
So we keep looking. In the meantime, it’s interesting to look at how a real estate trainer breaks down the life cycle of a customer.
Enjoy!
NEC Online Degrees
Colorado Insurance Laws: Do you have the Right Coverage?
Car insurance is mandatory in Colorado. Colorado law on car insurance changed in 2003 when the state changed to a fault-based system from a no-fault system. Even more requirements were added in 2009 for drivers, namely, a mandatory $5,000 in medical payments coverage.
Many of the other changes made to Colorado car insurance requirements were made to help prevent claim abuses and reduce the cost of insurance premiums for drivers in the city. The ‘tort’ or fault-based system requires that fault must be established before a claim is paid by an insurance company.
According to data released by the National Association of Insurance Commissioners, the average cost of auto insurance in Colorado was $777. This is way below the national average of $841 and far below the most expensive state, New Jersey, which had an average expenditure of $1,254 in annual premiums.
Colorado Insurance requirements
The state requires all drivers to have liability coverage at the least. This ensures that the other party and their property will be compensated in an accident that is your fault. According to insurance-comparison site, CoverHound, the minimum coverage for car insurance in Colorado should include:
- Bodily injury coverage of $25,000 for each person involved in the accident
- Bodily injury coverage of at least $50,000 for each accident the motorist is involved in
- Property damage coverage of $15,000 for each accident
Additional car insurance
Having insurance coverage meeting the minimum requirements of the law in Colorado will save you from being arrested for inadequate insurance. However, your insurance may not provide you with adequate coverage in case of an accident. Therefore, it’s important to consider the following car insurance options.
- Uninsured/Underinsured motorist coverage
While car insurance is a mandatory in Colorado, several drivers still drive without auto insurance. Figures released by the Insurance Research Council estimate that 16.2 percent of motorists in the state are uninsured. This is slightly above the 12.6 percent national average. The scary thing about not having this coverage is you never know when you’re going to get in an accident, let alone an accident with someone who’s underinsured, or uninsured altogether. As you can probably guess, if someone isn’t willing to pay an insurance premium to protect their financial means, they probably don’t have much financial means to protect in the first place, thus leaving you destitute in the event of an accident, regardless of fault. Bottom line: uninsured/underinsured motorist coverage protects your expenses in this situation.
- Medical Payments Coverage
Due to the aforementioned legislation passed in 2009, insurance providers are required to offer motorists $5,000 in med pay coverage as part of their insurance coverage. This is offered as part of every car insurance policy, and can be adjusted in $1,000 increments. You however, have the choice of opting out, but you have to send a rejection form. You can also choose to up your coverage to as much as $100,000.
- Collision coverage
Liability coverage ensures that the other party’s expenses are covered in the event you cause an accident, but what about damage to your own car? Collision coverage takes care of any damages to your car regardless of who’s at fault. The insurance also covers you for damage caused by hitting other objects with your car, such as a tree, or streetlight.
- Comprehensive cover
This ensures that you are covered for any damage that is caused to your car that doesn’t involve a collision (e.g. fire, falling objects, flood and hail). It also provides cover for the loss of your car through theft and other perils such as explosions.
If you purchase your car through a loan, your lender may require you to take out a comprehensive coverage policy. You can choose to have a higher deductible in order to reduce the cost of your premium.
Cost of violations
There are various penalties set by the state to ensure that motorists have adequate insurance. You may be penalized for failing to provide evidence of insurance or for purchasing inadequate insurance. Some of the penalties and fines include:
- A minimum fine of $500 for violations
- The addition of 4 points to your driver’s license
- The suspension of your license for up to 8 months
- Community service
It is important to understand your state laws and your own financial situation when choosing insurance. Your policy should not only meet state law requirements but your personal requirements as well. If it doesn’t, then what’s the point of having it in the first place?
This is a guest post.
Kris Jenner’s $125 Million Divorce
In what could end up being an incredibly expensive divorce, Bruce and Kris Jenner, of “Keeping up with the Kardashians” fame have announced that their separation will be permanent. Reports suggest that the couple had no prenuptial agreement and that 125 million dollars is on the line. In California, anyone who decides to get divorced without a prenup will split assets right down the middle.
Bruce Jenner found fame in the 1970s when he attended the Montreal Olympics and won a gold medal in the decathlon event. After that momentous achievement, Bruce was able to set up licensing and endorsement deals that netted him millions of dollars. In the decades after the marriage, Bruce’s star began to fade as he started eschewing his motivational speaking career in favor of staying at home, to raise the two children that came from the marriage.By the time Kris married Bruce in 1991, she’d just divorced famous defense lawyer Robert Kardashian after a marriage that lasted about 13 years. She already had 4 children by the time she married Bruce that year. It wasn’t until 2007 when daughter Kim’s infamous “sex tape” hit the airwaves that the family started skyrocketing to fame, and the fortune started to grow.
Rumors suggest that Bruce wasn’t enthusiastic about his permanent role as sidekick to his wife and that he wasn’t allowed to help with any major decisions impacting the family.
Although a joint media statement from the former couple suggests that the split was “amicable,” it’s difficult to believe that two decades of marriage and a 125 million dollar fortune would just end with a friendly split. What seems clear from rumors and reports about the couple; however, is that there was no specific event which pushed the couple apart.
In their statement, the soon-to-be divorced couple said:
“But we will always have much love and respect for each other. Even though we are separated, we will always remain best friends and, as always, our family will remain our number one priority.”
In addition, sources also suggest that the reality television empire won’t come screeching to a halt. Interestingly, soon after the news broke that Bruce and Kris would be separating, Bruce and some of the couple’s children were seen at a golf course. When the family noticed a paparazzi taking a picture from across the green, the Jenner family each flipped the bird to the photographer while each had a huge smile on his or her face.
Interestingly, it seems that Kris was the first to take her wedding ring off after the divorce announcement while Bruce was photographed still wearing his ring.
There haven’t been any reports of infidelity or abuse between the couple and many of the anonymous sources who have come out to offer insight on the divorce have said that the split was a long time in coming. Bruce was already staying at a rental property for several months at the time of the divorce announcement and hadn’t been living inside the Kardashian compound in Calabasas for some time.
Related articles
Dolly Parton’s Car Crash and the Importance of Insurance
America’s country sweetheart, Dolly Parton, was in a car accident recently. Although she was only a passenger in this minor fender-bender, she still suffered some injuries requiring a quick hospital visit and rest. The offending driver did not stop as he was supposed to and struck Parton’s vehicle. Parton surely has auto insurance, and hopefully the offending driver has coverage as well.
Auto Insurance 101
Every month, you pay a premium toward your coverage balance. Coverage varies by state, from hospital bills to repairing damaged street items, like guard rails. People with expensive cars pay higher premiums while inexpensive cars have lower amounts. Some buyers only purchase the bare minimum of coverage, called comprehensive. This coverage does not help in the Parton crash because it typically covers vehicle damage from objects, like flying rocks, rather than a collision situation.
How Much Does That Part Cost?
Repairing a vehicle after a car crash can lead to astronomical figures. A simple dent in the bumper may warrant an entire part replacement costing thousands of dollars. The offending driver in Parton’s accident is at fault. His insurance should cover Parton’s insurance deductible and any other expenses that arise. If he is not covered, she could technically sue him for damages, although there may not be many funds to pay out.
Those Medical Bills
Coupled with a car repair, Parton and her driver also went to the hospital. The offending driver uses his auto insurance to cover their medical bills. Any bills generated from the driver or passenger’s injuries goes directly to the offending driver’s insurance. If he is not properly covered with this policy feature, he must pay for the bills out-of-pocket. With medical bills costing thousand of dollars, he probably called his insurance agent right away to see if his policy has that coverage.
Luckily, Parton’s accident was not severe, but ongoing injuries can slowly siphon funds out of the offending driver’s account. If Parton has whiplash, for example, she may need multiple visits to a chiropractor or other specialty doctor. Each visit should be covered by the offending driver’s insurance. Because she has good insurance coverage does not mean that her policy should pay out. The party at-fault always pays for both car repairs and medical bills. With treatment that takes several weeks to a few months, the offending driver’s insurance rates will typically jump next policy year.
Someone Has To Pay For It
Depending on the insurance company, an accident on your record causes your premiums to rise. You are now considered a risk to the company. It is possible that you will cause another accident incurring more cost. Insurance companies must weigh their risky customers with their good drivers. Hopefully Parton recuperates quickly so the offending driver’s rates do not remain high for several years.
You may not think of auto insurance as a top priority, but the reality of Parton’s fender-bender shows everyone that accidents happen at any time. Even celebrities must cover their vehicles with good insurance to protect their assets.
