Time changes everything. Try to remember how different you were 20 years ago. You have memories and life experiences now that you didn’t have back then. Your appearance has probably changed quite a bit too. Even the matter of which you are made up of is different. Millions of new cells in your body are created everyday, and old ones die off. Scientists say about every 5 to 7 years just about every atom and molecule in your body is replaced. 20 years is enough time for your body to go through several of these cycles.
Similarly the person that you will become in 20 years into the future will not be the same person as you are today. That future version of you will be psychologically different, remember very few of your current experiences, and have a body that only resembles your present one in appearance, but contains none of the same physical matter. The daily thoughts, conversations, and regular everyday events experienced between you today and you in 2034 will be totally different. So in a way, in terms of memories, experiences, history, and the collective unconscious, you have more in common with your next door neighbor today than with your future self 20 years from now.
When cutting expenses and finding ways to save money for retirement, a great vacation, college tuition or anything else, one of the first things to look at is insurance coverage. Below are some examples of common insurance types to consider.
Life insurance can come in different forms. The least expensive is term insurance. It provides coverage a specified amount of time. Cait, a fellow blogger also from Vancouver, recently wrote that she was able to buy a term life insurance policy for just $24/month. Usually the younger someone signs up for life insurance, the cheaper the premiums. However, there are other life insurance products such as permanent life insurance which will cover someone’s entire life and create a savings account that can be eventually used.
Many insurance companies have an online presence these days. To research more about insurance in general, I think searching on Google for insurance agents is a good place to start for finding brokers near you. Then make an appointment with them to ask further questions. They can provide suggestions for how to reduce car insurance premiums or have a built-in savings account within a life insurance policy. Cait spoke with 3 different brokers before making her final decisions, so it’s okay to take your time. I’m really lucky to have group life insurance through my job. But if I wanted to have additional insurance I can buy private coverage as well.
For those who qualify, there are several ways car insurance can be inexpensive. There are discounts for people who have good driving records, and in some parts of the world, for students who have good grades in school. This is very useful for families with teenagers because their age group has the highest insurance rates. All policies have a deductible that you must pay before the insurance company starts to pay, but this deductible can be reduced every year if the driver maintains a good driving record.
A home is a large investment and proper home insurance coverage in important. However, there are ways to reduce the cost and still have excellent coverage. Bundling home and auto insurance with the same company can reduce the total premium by 10% or more. That’s why it’s a good idea to buy home and auto insurance from the same agency. Installing fire and burglar alarms and other safety devices such as outdoor lighting could also help lower insurance costs. Personally I don’t have to worry about this one because my strata (HOA) corporation that runs the building takes care of it all. This is one benefit of living in a condo. My neighbours and I simply pay a monthly maintenance fees, and a small part of that is allocated to earthquake and fire insurance for the entire building. But as Jim mentions in the comments below we still need personal contents and flooding insurance.
This can prevent a company from bankruptcy. For example, having liability insurance is critical if customers enter the business premises or if employees go into the customer’s homes. If there is an accident, and the business is not adequately covered, the owner could have to pay from his or her own personal finances. It’s best to speak with a financial advisor specializing in business development to help select the right kind of coverage for a business.
———————————————————————— Random Useless Fact:
In the country of Denmark, the population of pigs is bigger than the population of people.
In the world of finance, the word “arbitrage” refers to buying something in one market, and simultaneously selling it in another, profiting from a temporary price difference. According to Investopedia, this form of profit is considered practically risk free for the investor/trader. Well I have recently found such an arbitrage opportunity in the gold bullion market.
Introducing the 2014 Howling Wolf 99.999% Gold Coin
Several days ago I went out to buy the 1 oz. pure gold 99.999% – 2014 Howling Wolf coin made by the Royal Canadian Mint. The Howling Wolf gold coin cost me $1,389 CAD to purchase. The slight premium over the spot price of gold is due to the spread charged by the broker and the unmatched purity of the coin (most bullion is only 99.99% pure gold.) Details below with proof of purchase.
If you live around Vancouver you can buy it from the VBCE, which is where I bought my coin. The current quoted price on their website is about $1,400 CAD. In Calgary albern.com currently sells it at $1429 CAD. In Florida, gainesvillcoins.com sells this coin for $40 over spot per oz. If you live around Toronto you can visit the Canadian Bullion Services to buy the coin. You can also order it online and pick it up in their store or have them mail it to you. In fact many of these companies I mentioned ship worldwide. There are hundreds of dealers across North America so this coin is relatively easy to obtain.
The secret to a long life may lie in the fast food industry, ironically. Earlier this year the founder of Chick-fil-A passed away at the ripe old age of 93. The Canadian entrepreneur behind Baskin-Robbins, Carl Karcher of Carl’s Junior, and Colonel Sanders of KFC all died at age 90. The founders of Hardee’s, Taco Bell, and even McDonalds all died in their 80s. Meanwhile the average life expectancy in the U.S. in 2012 was 79 years old.
At first I was surprised that these people who seemingly surrounded themselves by greasy fast food could live to be so old. But the more I thought about it the more it made sense. Restaurant owners usually have a solid understanding of nutrition so it would make sense for these entrepreneurs to eat well. And since they are rich they can also afford the best health care in the country. I don’t think it’s a coincidence that fast food restaurant owners are wealthy and live long lives. It’s interesting how these moguls can be so passionate about their businesses but not consume their own products. Who knows. Maybe if we invest in these high caloric companies then we can also live long and prosper.
———————————————————————— Random Useless Fact:
The word “billion” (or its relevant translation) is by no means ubiquitous throughout the world; in many countries it means 1 million million, and even Great Britain used this system until 1974.
If you happen to have $3 million just lying around you can install a home theater system, IMAX style. The 3D theater company will install one of its screens, along with the projectors, seats, and lighting all in the comfort of your very own house. Actually, most houses won’t even fit the installation. IMAX needs a room that’s a minimum of 21 feet wide, and 20 feet deep, plus 10 feet of additional space for the projection. That’s roughly a 600 square feet room, except it also has to be 12 feet high, lol.
Once it’s installed you can watch Hollywood blockbusters the day they hit theaters. You just have to pay $500 per movie. You can also watch sports, play video games and stream concerts on the large, crystal-clear projection screen and custom sound system.