Category: Investing

Start Your Own Self-Insurance Company

I recently started my own self-insurance “company”. Here are some details about my new company. Startup Costs: $0 Startup Time: 30 minutes Business Purpose: Take on an increased, although still small, part of the risk of driving a car, owning a home, and purchasing appliances and electronic equipment.   Revenue: Modest but steady. Right now…

The 10 Smartest Things Ever Said About Insurance

Insurance is defined as “A financial risk management tool in which the insured transfers the risk of potential financial loss to the insurance company…in exchange for monetary compensation known as the premium.”  Nobel Prize winner Daniel Kahneman sums up the purpose of insurance by stating that it can be thought of as “a choice between…