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3 Things 1-30

Thing One The Free Market Is Not Perfect But It’s The Best Answer The following is from an article in the Wall Street Journal written by Barton Swain. The text in quotations is from two professors, Benjamin and Jenna Storey, at Furman University: Many critiques of liberalism and modernity quickly become critiques of the free market. It’s a tempting solution because the market is something you can change or rearrange by force of law. The Storeys don’t take that view. “The problems we’re facing right now are not fundamentally economic problems. They’re fundamentally educational and philosophical problems. The way forward is a multigenerational project, and it’s going to begin in schools.” Now as for the free market, the chart below, which was not a part of the WSJ article referenced above, suggests that the majority of Americans (52%) are reaping the benefits of participation. Yet, a closer look at the details reveals that certain demographic groups are woefully underrepresented. While whites are investing (in the free market) at a rate of 61% of their demographic group, blacks and hispanics are only doing so at rates of 31% and 28% respectively. This is at least one data point that supports the Storeys' argument that the problems are perhaps educational and philosophical. In other words, what we don’t know (or what we do know that isn’t so) affects what we believe and what we believe affects how we behave - perhaps to our detriment in the case of investing. Join the multigenerational project by passing this (an/or our contact information) on to people you think might benefit from it.





Thing Two Auto Insurance By The Mile In keeping with the idea that you should shop your car insurance often, we offer up the following information we found on an insurance company (Mile Auto) that may be worth looking into. Please see the information we put together from their website: Who are we? We’re experienced experts in the auto insurance field and our policies are underwritten by an AMBest “Excellent” rated national insurance company and backed by one of the world’s largest reinsurers. With our pay-per-mile insurance, you only pay for what you use. The less you drive, the more you save. And we don’t ask you to install a “black box” tracking device in your car, so where you go, how you drive, and where you and your car sleep at night is your business, not your insurance company’s. And we know a secret: low-mileage drivers pay more than their fair share to cover their high-mileage counterparts. We created Mile to give those drivers transparency into their costs, control over their data, and unmatched customer service, all at a fair price. How does Mile work? With Mile, you only pay for the miles you drive plus a low monthly base rate. At the end of the month, you send us the number of miles you’ve driven. We add those miles at your per-mile rate to your base rate, and that’s what you pay. It really is that simple. For example, Fred has a base rate of $48 and a per mile rate of $0.08. He drove 300 miles this month, so his monthly total is $72 – his $48 base rate plus $24 (300 miles at 8¢ per mile). At Mile we don't require you to plug a "black box" tracking device into your car. We don't like the thought of your car "spying" on you. Instead, our MVerity system will send you a series of monthly reminders via text and email when it's time to send in your odometer reading. Each text and email will have a hyperlink that you click on to automatically open the camera in your smartphone. Simply take a photo of your odometer, and the image is automatically transmitted to our computers where our MVerity system takes care of the rest. MVerity extracts your odometer data, confirms the vehicle and authenticity of the photo, and then compares it to previous odometer readings. You just snap the photo and MVerity does the rest. Both your base rate and your per mile rate are based on standard insurance variables like your driving history, location, vehicle type and use, age and gender, years of driving experience, credit history, and coverages and deductibles. Depending on your state, only a few of those variables may be used. Your savings will depend on your rate and how much you drive, but we’ve found that Mile customers can save 30-40% off of their standard insurance rates. Who could use Mile? College students, empty nesters, urban commuters, retirees, weekend explorers, Sunday drivers, and remote workers. If you drive 10,000 miles or less a year, Mile likely makes sense for you. Where is Mile available? Mile is currently available in Arizona, Cal California, Georgia, Illinois, Ohio, Oregon, Pennsylvania, Tennessee, and Texas. If you’re interested in trying them, or some other carrier that we work with, reach out and we’ll get started.

Thing Three Just A Thought "Free markets are the foundation of prosperity and the best hope for the poor." - Milton Friedman

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