Introduction to Auto Insurance and My Experience The first combustion automobile was invented in 1886, and the first auto insurance policy was issued in 1897. Both have undergone tremendous change over the last century and more. Regarding personal finance, no other area of insurance has as many ways to protect you or cause changes in your finances as auto insurance. From 1993 to 1996, I worked for Progressive Insurance in their auto insurance division. I started by quoting insurance policies to agents and direct customers, then became a personal insurance policy representative and an underwriter. This tenure has given me insights into how personal auto insurance works and what options you have to substantially impact your finances through policy changes. State Requirements All states in the U.S. require minimum auto insurance to operate an automobile legally. The minimum levels and coverages vary from state to state and are also susceptible to change. Since I live in Texas, my examples...

Your income is one of the most critical aspects of Personal Finance. Income is the fuel that creates the movement to propel you on your journey to being Financially Grounded . Income, or the lack thereof, tremendously affects what you can and cannot achieve at any given moment in finance. Can I afford to go on vacation this year? Do I have enough money to go to dinner rather than cook tonight? Do I have the means to replace something that has broken? These are the questions you ask yourself that consider income. If the answer is “No,” you must wait to save up for them, or you may put them on credit. There are many forms that income can take. Look at the following to determine which you have. You may be surprised that you have multiple income streams available to you that you may not have been aware of. Earned Income All of the wages, salaries, bonuses, and tips you receive for performing services as an employee of an employer are Earned income. Most of us accept (or have) this type of ...

In the exciting world of money and economics, interest rates significantly affect how things work. Higher interest rates could be problematic, but they can benefit our economy. Let's dive into why higher interest rates aren't just something we need but can help our economy grow and stay steady. We'll explore the top 10 reasons why higher interest rates are like a helpful friend, ensuring things like prices and spending are kept in check. So, get ready to walk through the money world and discover why higher interest rates can be a good thing for our wallets and our country. 1. Control Inflation: One big reason they might raise interest rates is to brake on rising prices, which we call inflation. When things get too expensive too quickly, the folks in charge (like central banks) might decide to increase those interest rates. It's like making borrowing money more pricey for regular folks and businesses. When loans, home mortgages, and credit card swipes cost more, firms an...

Day 2 I am currently going through the process of transporting my deceased father from Colorado to Texas. Dad had a massive heart attack yesterday morning, March 15th, at 7:30 AM. My brother, Chris, and I performed CPR until the police arrived. EMS arrived shortly thereafter. Everyone worked to resuscitate Dad, but after 30 minutes, there was still no pulse. Dad was pronounced dead at 7:30 AM. The Deputy Coroner arrived and began a preliminary investigation to determine the cause of death. Based on the described behavior of the previous day since we arrived in Winter Park, CO, the initial consensus was a massive heart attack. Dad had fluid on his legs and ankles, a sign of a heart not performing well. He had complained of his heart working hard whenever he walked, especially upstairs. He stated that he was alright when sitting down. In hindsight, we should have taken him to the ER to have his heart checked out. My Dad was Catholic, so I requested a preacher to perform Last Rights for h...

Debt is a problem that many people face. It causes problems for people and families and is one of the most significant problems facing our government, from the national to the city level. Personal debt is one of the causes of many problems facing our society. Debt can cause worry, stress, and anxiety, which can lead to serious medical problems and relationship issues. In fact, fiscal problems are a leading reason for arguments in marriages. Almost half of all marriages end in divorce, and 30% of those divorces are caused by the stress that fiscal problems bring to the marriage. Finding a way to pay off debts will significantly enhance your health and relationships, not to mention allow you to achieve other financial goals on your journey to Financial Grounding . Budget To start paying off your debts, you need to know what you owe and how much the minimum payment is. You will also need to know where your money is going each month. The process of tracking your money is called budgeting. ...

 My target retirement age is 60, just over seven years out. When I reach retirement, I would like $10,000/month in Passive Income streams. As it stands currently, I have the following in place. Rental Property  I own a rental house in Texas, which I own in an LLC with my brother. My profit from this property is currently $500/month. As rental prices tend to increase upon renewals, this will grow to $1,000/month in the next seven years. Rental Property I own a rental house in Oregon, which I own in an LLC with my wife. The current profit from this property is $500/month. As rental prices tend to increase upon renewals, this will grow to $1,000/month in the next 7 years. Dividend-paying account This is a brokerage account I am building out myself with high-yield dividend-paying stocks. The annual dividend payout is just north of $200/year. A far cry from $1,000/month. This is an ongoing project; the proceeds to grow this come from the Texas rental house. https://us.etrade.com Mi...