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Impala Sport Coupe… 1958

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Oldsmobile (1915)

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Hot Rod

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Share Now Is Pulling the Plug On North American Ride-Sharing Service

“ It wasn’t long ago when Share Now executives were feeling far more optimistic about the service. In fact, Daimler and BMW opted to pump $1.13 billion into an array of efforts that included buying autonomous cars, electric scooters, electric car charging stations, ride-hailing services, and more. They hoped adopting this MaaS (Mobility as a Service) approach would make Share Now take off. It turns out, however, that $1.13 billion was not nearly enough as costs soared and other complications – including intense competition from other MaaS “smart solutions” – made operating at a profit more elusive than anticipated. “

Read more on Robert’s blog.

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Spotlight on the BMW iX3

“ More and more automakers are starting to go green. Electric vehicles like Tesla and hybrids, like the Toyota Prius, have made a real change in the way people get around. Today, traditional luxury automakers are starting to make inroads in the world of electric cars, too. They understand only too well that consumers want more carbon-neutral options for transportation. The BMW iX3 is an excellent example of this. The 2020 model has an improved range of up to 273 miles. ”

Read more on Robert’s blog.

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Cars That Just Didn’t Resonate

“ Cars are some of the most incredible machines in the world. They’ve changed the way society operates. Consider that in Los Angeles, possibly the world capital of car culture, most shops have their entrances in back. Everything is designed for the parking lot, not the street side. Automobiles can also be incredibly beautiful. Consider the sleek curves of a 1930s Rolls Royce Phantom, the fins on mid-century American cars, or the streamlined look of today’s Teslas.

For all the cars that made a big hit with the public, some just haven’t resonated. Though their design may be innovative, they’re not what the public’s looking for. Taking a look at the cars that didn’t work for the public can also help us understand more about the cars that do. Analyzing bad designs is one way that automakers can learn to construct people-pleasing vehicles. ”

Read more on Robert’s blog.

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How Insurance is Structured in the United States in 2017

The majority of U.S. citizens with insurance are covered by an employer-based program or that which is offered through an individual’s work; any dependents may also partake in this coverage. Other, less common insurance providers include that which was implemented by the Affordable Care Act, that which is provided by the military or Veterans Administration, and non-group insurance. Around 9% of Americans were uninsured in 2017 with the percentage steadily rising, and roughly 156 million Americans were covered by private employer-based coverage in 2017, according to an infographic published by Visual Capitalist using census information. While private insurance is undoubtedly the most prominent, public insurance has made a rise, as well.

With the introduction of the Medicare and Medicaid programs, which provide insurance for those who otherwise can not afford or acquire it, how insurance should function has become unclear.

The cost of private insurance continues to rise, which puts those with lower incomes at a disadvantage; however, due to the prevalence of for-profit insurance companies, changing the structure of the insurance industry has led to debate. Rather than universal healthcare, insurance in the United States relies on those who purchase plans with private companies.

While private insurance was the most common kind of coverage for Americans in 2017, there have been several attempts to repeal the ACA and eliminate government-supported healthcare to prioritize and promote private insurance as the primary providers. However, there are concerns with this notion, such as that, should the act be repealed, an estimated 22 million Americans will lose all insurance coverage and be left disadvantaged should they need medical assistance.

The health insurance industry of America seems to favor those who are employed and have disposable income—at least enough to agree to a deduction from their regular wages or to seek out private insurance companies on their own time. With an increase in insurance costs and the abolishment of ACA, many Americans would likely be left without coverage. As the insurance industry operates based on profit, this structure and the rising costs may not be subject to change.

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Robert Taurosa provides an overview of how Tesla, in addition to changing the automotive game, is having an effect on auto insurance. 

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Robert Taurosa provides some tips for insurance professionals to keep in mind when they start working with a new client. 

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Term vs Whole Life Insurance

Life insurance is incredibly important when it comes to making sure our loved ones are left behind in safe hands in the wake of our death. However, the nuances between the varierty of insurances available can often make one’s head spin. It is for this reason that I will address some of these nuances in an attempt to make the convoluted and complicated world of hypotheticals easy to understand.

Here, I will be discussing both term life insurance and permanent life insurance. Term is a bit more simplistic and also boasts the lower cost. However, more of us have been exposed to whole life insurance since it has more publicity behind it.

Term Life Insurance

Term Life Insurance, as the name hints, only covers a certain amount of time, a term if you will.  Occasionally, you may hear this sort of plan referred to as “pure life insurance” since it’s really only supposed to protect your dependents. Terms can last anywhere from one to thirty years, yet the most common is 20 years. Generally, the premium does not increase or decrease throughout the contract, but of course every plan is its own and so it behooves you to make sure that that it is the case should you decide to move forward with a term plan.

For the record, you should pick a term plan for the years your dependents would be the most, for lack of a better word, dependent on you. This way, in the event that the worst happens, your family is provided for. Ideally, the payout they receive will be the equivalent of your current income so as to provide for the smoothest transition possible should you suddenly not be around.

Whole Life Insurance

This sort of plan is permanent, and has you covered from the start of the plan to the end of your life. This said, there is an investment involved that is titled the “cash value” of the plan. This cash value grows at a slow and steady pace and is tax-deferred so you won’t have to pay any percentage based on its gains. However, you can borrow money against the account or even forfeit the policy for cash. However, if you don’t manage to pay the plan back, with interest, you will decrease your benefits until you surrender the entire policy and the death benefit with it.

Frankly, as a whole, whole life insurance is more straightforward than term plans in that the numbers behind it don’t change. Yet, even though this is the case, the plans are typically more expensive, and although offering more benefits than term, they generally cause overbuying as well. Actually, as I mentioned in a previous article, this is because when we grow older we need less benefits, but as stated above, the numbers with whole life insurance plans don’t change. So even when you have less financial obligations and your kids are moved out of the house, you are still paying the same premiums.

This all said, it is up to you to decide which plan to pursue. Of course, every individual has unique circumstances that dictate which plan is best for them. In my personal opinion, you should always be sure to consult a professional before you commit to a plan, and remember to shop around. Insurance companies offer different pricing for different age groups and different policies, so make sure you weigh your options.

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Secrets to Inexpensive Insurance: Senior Edition

While we all grow old, many of us do not harbor an understanding of the necessity that is life insurance, especially seniors. Maturing is hard enough without worrying about the fiscal plan you’re leaving behind for your children and grandchildren. Rather than force elders to endlessly peruse through the internet, I have decided to author this quick and easy guide for a few simple tips so that those of us in retirement can have a foundational framework when searching to decrease the expense of life insurance.

Do not purchase unnecessary benefits.

Life is dynamic. Considering such, many of the benefits we need at one point in time, we no longer need later in life. To understand insurance, this is a fundamental principle. For instance, many parents are paying more money when they are younger because they are supporting children, and then paying for said children’s college. However, once the children move out, the financial obligations of said parents decrease tremendously. When this happens (or any obligations diminish), you should make sure your insurance plan reflects such. When financial commitments decrease, so should your insurance.

Work a job.

When seniors are working, they may very well be able to take advantage of their employer’s life insurance plan. Even in the event that the employer does not offer insurance, there are many other groups that may be able to supplement the cost. All you need to do is a little research to find the right plan for you.

Do a price-comparison between companies.

As with any purchase in our capitalistic society, different companies offer different prices. This being said, many companies actually price age groups differently. There is no one universal understanding of what to charge each age group. Thus, it is worth your time to shop around a little and see what each company is offering as per your individual situation, be it age or income or location or anything else. Remember that you don’t need to buy too much and that if a group rate is available, you should take advantage.

Take note of different kinds of insurance.

You should also keep in mind that in the above text I am referring to term life insurance. However, it is plausible that term life insurance may not be accessible and so you will have to resort to whole life or guaranteed issue life insurance; and should that be the case, you should be prepared.

I would consider purchasing a whole life policy that doesn’t heavily rely on large cash values. This way, you are essentially creating a unique, personal, term life policy. However, you may also want to consider guaranteed issue life insurance.

Mostly anyone can purchase this sort of plan no matter their health or age. However, this open admission implies strings attached, and there certainly are strings attached. One, the coverage itself is usually not the best. Two, it generally only pays out to 100,000$. Not to mention, you have to survive 2 or 3 years for the policy to take effect while you’re paying significant premiums in the meantime.

Regardless of what you decide, I hope this helps in your quest through the complicated and treacherous waters of attaining life insurance. Good luck and godspeed!

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How Far, Really, Can A Car Go on One Charge?

In a world increasingly conscious of the environment, electric vehicles have been at the helm of cutting down fossil fuels. You would think, considering how surrounded we are by climate change’s harsh realities, we would be jumping at the prospect of electronic vehicles that do not spout pollution into our already tainted atmosphere. However, the numbers don’t reflect that. In fact, the percentage of new car sales in 2015 being directed to electronic vehicles was less than one percent. Astounding, but understandable when you look at electronic vehicles in a side-by-side comparison with their internal combustion brothers and sisters. Perhaps the most significant question that is raised out of such a comparison, is how far can an electronic car go on “one tank,” or rather, one charge. Here are three of the most popular electric vehicles and the range they boast:

Chevy Volt (53 Miles)

With a fully charged battery, the Chevy Volt claims to be able to travel a full range of 53 solely electric miles. While certainly a considerable distance, it seems this range would be best reserved for merely traveling to and from work. For any individual considering an interstate, or even an international, trip, the Chevy Volt is not a viable choice. While of course, interstate travel is surely not the deciding factor when purchasing an automobile, it is a factor nonetheless; and the fact that the Chevy Volt is one of the longer lasting batteries presents a problem to a mass consumer migration to EV’s.

Tesla Model S (270 Miles)

This sporty sedan not only beckons customers forth with its hit aerodynamic aesthetic, but also draws them in with a larger, 270 mile range. This increase in range decreases the new phenomenon known as “range anxiety,” all the while boasting a more than capable engine with a body that makes heads turn. However, there is a catch, the price. At 85,000$, the Tesla Model S is not necessarily a budget vehicle.

Chevy Spark (82 Miles)

This remarkably small vehicle boasts 82 miles on a single charge and only costs 25,170$, a huge reduction when compared with the Tesla. Of course, the aesthetics and performance of the Spark do not quite match that of Tesla, as I imagine is expected. At 128 miles per gallon in the city, the Spark’s gas reduction perfomance is unparalleled. For comparison, the Tesla sits at 95/mpg city.

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Insurance Tips

When choosing the perfect life insurance plan, there are dozens of factors to consider. Beyond the weight of determining how your family will be cared for after your passing, you’d do well to avoid these pitfalls when choosing plans and assigning beneficiaries. And please, when in doubt, don’t hesitate to contact a professional. It’s their job to know the inner-workings of the life insurance industry, not yours.

  Never Name A Child: Though your children are likely the first thing that leap to mind when you think of protecting your future, be sure not to overstep and name them in your Will. Not only is it irresponsible to put the weight of shouldering this burden on a child, they aren’t legally able to receive the money until they are of age. Even so, there are countless horror stories of wealth being squandered by children too irresponsible to save. Imagine inheriting $78,000 from a parents life insurance, blowing it on a sports car, and then having it stolen in one week. Seem too wrong to believe? Well, it happened.

Avoid Group Insurance: While the idea of saving some spare bucks is enough to turn anyone’s attention, I suggest that you avoid going in on life insurance offered by our company. The times have taught us that job turnover is rapid, and the job you have today may be gone like a wisp of smoke tomorrow, taking your life insurance with it. Instead of banking on working where you currently are for the rest of your life, why not invest in a personal policy? That way, regardless of what happens, you’re protected.

Living Benefits: When choosing a policy, I suggest you pick one that offers living benefits. Whether you need the money to help afford a medical bill or minor expense, most modern policies offer an option to draw money from your healthy policy for expenses while you’re breathing enough to use it.

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Future Cars Pt 2

The realm of street-legal speed is a hotly contested one. Car companies will push the boundary as far as possible, squeezing more horsepower and shaving seconds off their 0-60 runs. This latest entry in the world’s fastest car will surely run you a pretty penny, for both the price tag and any possible incursions with the law your joyriding might earn.

The current holder of the fastest production car is the Bugatti Veyron. The 16.4 Super Sport “World Record Edition,” is capable of some pretty astounding speeds. In a long enough stretch, this car can reach up to 270 mph. Capable of going 0-60 in 2 seconds, this speed demon will have you around the block and back seconds after the light turns green.

Though reaching the top-speed would prove difficult on any normal road, all the discerning driver would need is a rented landing strip. Considering the cost of this car, renting such a lavish speed strip should be a pittance. Just pushing the envelope on what it is to be street legal, the geniuses at Bugatti know speed, and know that their clientele expect it.

So, why? Why get a car so fast that you’d need specific situations to see what it’s capable of? The experience has been likened to riding in a space ship. The smooth curves of the interior match the wind-slicing body design, each bend meant to evoke a feeling of motion. This is more than a vehicle, it’s speed incarnate. Though the price may be steep for some, many would leap at the chance to sit behind the steering wheel for just a few minutes of uninhibited driving.

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