The word “millionaire” typically conjures up images of a lavish jet-setting lifestyle, but behind the scenes that may not always be the case. Warren Buffett, for instance, famously still lives in the relatively modest house in Omaha, Neb. that he bought in 1958 for $31,500 Thursday, February 06, 2014
The short answer is: yes. Anytime you add an extra driver to your policy, your rates will increase. However, you may end up paying even more when you add your daughter to your policy. Since teenage drivers are some of the highest-risk drivers on the road. According to the most recent statistics from the National Transportation Safety Board, teen drivers have represented less than seven percent of the driving population but have accounted for more than 13 percent of drivers involved in all deadly crashes. (Source: National Transportation Safety Board, October 2013)
Fortunately, there are some steps you can take to help make insuring your teen a bit more affordable.
The Federal Reserve has said it expects to begin raising its target rate sometime in 2014. Since bond prices fall when interest rates rise, it may be a good time to pay increased attention to any fixed-income investments you have. Here are some factors to consider when you review your portfolio.
Maturity dates and duration
One way to address the threat of rising rates is through maturity dates. Long-term bonds may pay a higher coupon rate than short-term bonds, but when rates rise, long-term bond values typically suffer more. That’s because investors may be reluctant to tie up their money for long periods if they expect a bond’s interest payments may suffer by comparison when newer bonds that pay higher rates are issued. The later a bond’s maturity date, the greater the risk that its yield eventually will be surpassed by that of newer bonds.
Yes. Insurance companies base auto insurance rates on a variety of criteria, such as your age, driving record, residence and even the type of car that you drive (though factors vary from state to state). If you find that you’re paying more than you think you should for auto insurance, there are ways you can lower your premiums.
Shop around: Auto insurance rates vary from company to company, sometimes significantly. As a result, a good way to save money is to look into whether another insurer offers the same coverage at a lower rate.
Consider raising your deductible: For the most part, the higher your deductible, the lower your premiums. Before you raise your deductible, though, you’ll want to be sure you can cover the out-of-pocket expense should an accident occur.
If you’ve ever had trouble finding an important financial document, you know why it’s necessary to keep your financial records organized. Less clutter means less stress, and though you’ll need to commit a bit of time up front to organize your files, you can save time and money over the long term when you can find what you need when you need it.
What records do you need to keep?
If you keep paperwork because you "might need it someday," your files are likely overflowing with nonessential documents. One key to organizing your financial records is to ask yourself "Why do I need to keep this?" Documents that you should retain are likely to be those that are related to tax returns, legal contracts, insurance claims, and proof of identity. On the other hand, documents that you can easily duplicate elsewhere are good candidates for the shredder. For example, if you bank online and can view or print copies of your monthly statements and cleared checks, you may not need paper copies of the same information.
