7 Mistakes To Avoid After A Car Crash

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StrategyDriven Practices for Professionals Article |Car Crash|7 Mistakes To Avoid After A Car CrashYou may have seen car accident reports on TV and how it’s a widespread occurrence around the world. These reports often remind people what to do in case they’re involved in a car accident. In fact, as per this site, https://realjustice.com/fort-lauderdale-personal-injury/car-accident/texting-and-driving/, there are many times that an accident is a result of texting and driving.

This is why it’s important to know what to do after an accident. This is not only to ensure your safety and minimize injuries but also to secure and strengthen your injury claim later on. Anything you do after a car accident can make or break your claim and compensation.

For these reasons, listed below are seven mistakes you must avoid after a car crash.

1. Leaving The Scene Of The Accident

Understandably, the accident scene can be too stressful and traumatic for you. Perhaps, your first instinct is to save yourself and flee from the scene. Unfortunately, leaving the scene of the accident is considered illegal, especially if someone has been injured or someone’s property has been severely damaged. This will only make it more difficult for you and your lawyer to file a stronger injury claim later on.

Moreover, car accidents often happen in the middle of the road, so it’s your responsibility to move your car aside to make way for the rest of the drivers. Otherwise, if you choose to leave everything behind, not only are you committing illegal acts but also leaving a nuisance on the road. Failure to comply with this rule can result in a misdemeanor or felony conviction.

2. Not Calling The Police Department

Some of you may think that exchanging information with the other driver or party is enough, and then you can simply go separate ways. But whether you’re injured or not, it’s a vital step to call the police right away after the accident. The presence of the police is crucial, so they can create a police report that you can use for filing your claim and compensation, or when needed by the court.

3. Not Calling For Medical Assistance

One of the critical mistakes you must avoid is not calling medical help. Even when you’ve only sustained a bruise or a scratch, you might not be aware of your other incurred fatal internal injuries and bleeding. These are often dangerous and deadly when not treated on time. Thus, seeking immediate medical help will ensure that your injuries, both internal and external, are detected and treated right away. Additionally, seeing a doctor will also help you secure medical records, which is vital evidence for your legal claim in the future.

4. Admitting Your Mistakes

Even if you feel you’re at fault, never utter statements that imply you’re at fault. Some people tend to say ‘I’m sorry,’ ‘I didn’t mean to,’ ‘I didn’t see you,’ or ‘I took a wrong turn’ when they’re rattled. Unfortunately, these statements can severely jeopardize your chances of seeking compensation for the injuries and damages you’ve incurred during the accident. That’s why you must never admit any fault in a car accident, despite assuming that you’re entirely or partly responsible for it. Let the judge decide who’s at fault.

5. Posting On Social Media

Nowadays, many of you are fond of sharing every little detail of your life on social media. You may be tempted to share your side of the accident or post pictures on your accounts. Unfortunately, doing so can hurt your case and claim. You’ll only risk leaking valuable and confidential information to the other party’s insurance adjuster or defense attorney, and they may use it against you. As much as you want to share that traumatic experience as a way of destressing yourself, your best bet is to talk about it with your personal injury lawyer only.

6. Talking To An Insurance Adjuster Without A Lawyer

As sorry and sympathetic they may sound, the insurance adjusters are not on your side. Their main goal is to save money by offering you settlements lower than you deserve. Some insurance adjusters will try taking the opportunity to talk to car victims while they’re still confused and unable to think clearly. As much as possible, avoid making settlements and agreements with any insurance company before consulting your lawyer.

7. Stretching The Truth

Don’t try to stretch, add, remove, or exaggerate your details about the accident, even the minor ones. If the other party detects inconsistencies and false accusations in your statements, it can quickly jeopardize your case. In case there are minor details you don’t remember, tell your lawyer right away.

Conclusion

Car accidents can be disorienting and overwhelming. The influx of stressful events after a car crash may cause you to make hasty decisions without consulting your lawyer. Know that this could severely impact your case and injury claims later on. Thus, before divulging or sharing any information, you must first hire a personal lawyer to help you get through the entire legal process smoothly and hassle-free.

3 Big Misconceptions About Taking A Sabbatical

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StrategyDriven Practices for Professionals Article |Taking a Sabbatical|3 Big Misconceptions About Taking A SabbaticalTaking a sabbatical is a good idea for a lot of reasons, but people often misunderstand why they are useful. Many people also get the wrong idea about taking lots of time off and they think that it will damage their career and their life in some way. Unfortunately, these misconceptions mean that so many people are not benefitting from taking a sabbatical when they could be. These are some of the biggest misconceptions about sabbaticals and why you should take one.

You Should Only Take One When You’re Burnt Out

The biggest misconception about sabbaticals is that you should only take one when you are completely burnt out. They have this idea that you should work yourself to the bone and only when the stress becomes so much that you feel like you can’t go on anymore should you think about taking some time out. But even though sabbaticals do help you recharge your batteries, there are a lot of other great reasons to take one. It gives you time to focus on personal goals and it can give you more perspective on your career. So don’t think that you only deserve a sabbatical if you are under extreme stress. If there are things you want to achieve in life or you just want some time to focus on yourself, those are perfectly valid reasons to take a year off work.

You Can Only Take One

The general perception is that people only take one sabbatical in their lifetime. It’s seen as a time when you can achieve that big thing that you’ve always wanted to do, and it’s a once in a lifetime experience. But that isn’t the case at all and there is no reason why you can’t take regular sabbaticals throughout your life. In fact, best-selling novelist and corporate leader Karan Bajaj advocates taking a sabbatical every 4 years. It gives time to achieve more personal goals instead of focusing on one single thing, and it’s an effective way to find more balance in your life. By having regular time off to focus on yourself, you will ultimately be happier.

It Will Stall Your Career

This is the number one reason that people don’t take sabbaticals when they should. They worry that taking significant time out will stall their career and other people will overtake them, meaning that they miss out on opportunities for advancement. However, the opposite is actually true. If you want to advance your career and get promotions, you need to be at the top of your game. Unfortunately, it’s hard to stay motivated and put the work in if you haven’t had enough time off, even if you love your job. When you take a sabbatical, you will return to the role with your batteries recharged, ready to hit the ground running. You also have a fresh new perspective on the job so you can bring great new ideas and a different approach. This all means that you are more effective and you are actually more likely to progress.

It’s important that you ignore these myths about taking a sabbatical and consider taking some time out if you think it will benefit you.

Using Your Office To Drive Productivity Is Essential

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StrategyDriven Practices for Professionals Article |Productivity|Using Your Office To Drive Productivity Is EssentialProductivity is important to your business. If your productivity isn’t high, then there is no way that you are going to get very far on the market. You won’t be putting out the right kind of service to your customers, and people that do choose to use your business are going to get frustrated extremely quickly. One of the things that you can do to try and improve this is make a high-quality business office that is designed specifically to drive productivity. That’s what we’re going to be looking at in this article, so if you would like to find out more about this topic, keep reading down below.

Workspaces

The first thing that you are going to need to think about are the workspaces that you are providing for your employees. If you have people constantly shut away behind closed doors, then there is going to be no collaboration, no communication and everyone is going to feel isolated. This is not the way to do things as people who feel like they are constantly on their own are less likely to work well. As such, you should think about using office cubicles so that most people are together in one part of the building. This encourages teamwork and collaboration which will encourage a higher rate of productivity.

Social Areas

Another thing that you are going to need in your business office are social areas. These are things like break rooms as they are places for your employees to sit back and chill out on their break. Your employees are still human, and they need somewhere to go that isn’t their desk during their breaks. If you work them too hard or you don’t allow them a space where they can really unwind, even if just for a short time, then they aren’t going to work hard for you, which will impact your productivity.

It isn’t difficult to create a simple break room where people can talk to each other when they are not working.

Colors And Lighting

You should also consider the colors you use and the amount of natural light you get in the office space. Have you ever heard of the phrase happy employees are hard working employees? Well, it’s true. We recommend that you use bright colors such as yellows and blues for your office to encourage a good mood, and let as much light in as you can. Humans respond positively to natural light, so it’s a good thing to include. There are some other elements too that help you add a vibrant and productive touch to your workplace. All you need is to explore all of them and implement them on your workstation. You can read them all here https://www.officefinder.com/officeblog/4-ways-create-more-productive-work-space/ and see how it helps you add beauty to your office.

We hope that you have found this article helpful, and now see some of the things that you can do in order to design an office that drives productivity. At the end of the day, the productivity of your business as a whole should be one of your main focuses, so creating the office should be at the top of your to do list. We wish you the very best of luck, and hope that you end up with the results that you are looking for.

7 Tips How Investing Can Help You Secure a Better Future

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StrategyDriven Practices for Professionals Article |Investing Tips|7 Tips How Investing Can Help You Secure a Better Future“Someone’s sitting in the shade today because someone planted a tree a long time ago,” says Warren Buffet.

Building wealth is a marathon, not a sprint. A farsighted investor will multiply wealth by a far greater multiple than an investor that seeks a quick buck.

Successful investors often follow some common rules. Their disciplined approach to investing underpins their growth and helps them consistently build wealth, year after year.

Think about any ace investor—Warren Buffet, Carl Icahn, Jesse Livermore, George Soros, Peter Lynch—all share some common traits. They’re patient, disciplined, and shrewd investors who pack their emotions in a suitcase before stepping into the office.

7 Investing tips to secure your future financially

Investing is not solely about building wealth, it’s also about protecting wealth and securing the future.
Investing a large chunk of wealth in high-risk assets without investing in an insurance policy that provides adequate coverage is unwise. Similarly, investing wealth in high-risk assets without setting up a retirement fund is a terrible strategy.

There is a certain hierarchy that investors must follow to safeguard their current wealth and future cash flows. Let’s discuss several tips that can help investors build colossal wealth over a longer time frame, and shield that wealth against potential catastrophes.

1. Buy insurance

Unforeseen events are so named for a reason. They don’t knock on the door; they just happen one day out of the blue. This makes it imperative for any individual to buy insurance before investing money in any asset class.

Consider insurance an entry ticket to investments. Let’s assume a young, passionate investor has learned about cryptocurrency and is keen on investing in Tether. The investor thinks USDT is the next big thing and will rise in the near future.

The investor certainly has done a lot of homework—USDT indeed seems to be doing well. However, if the investor were to buy USDT before investing in health insurance during a pandemic, one can imagine the degree of risk the investor is assuming.
Insurance is a cost-effective way to tackle mishaps such as a medical emergency or the demise of the family’s breadwinner. It helps safeguard an investor’s wealth, family, and future financial goals.

A common mistake people make is thinking of insurance as an investment. You don’t need to pay a massive premium for a unit-linked insurance policy. Instead, choose a term plan that offers a large cover at significantly lower premiums.

2. Put retirement before all else

The cost of living is rising by the day. For an individual to maintain the same lifestyle post-retirement, they must beat inflation and ensure that they don’t outlive their savings.

Retirement savings are an essential part of any portfolio. They aren’t as boring as some investors assume them to be. While they may not offer double-digit returns, they certainly come with a higher rate of return than a basic savings account.
Investing in a pension plan could be one of the best decisions of an investor’s life, though they may realize this only after retiring.

Increased life expectancy and inflation can push your retirement cost up. Investors must always ensure these costs have been adequately provided for before moving on to more growth-oriented investments.

3. Take stock of your net worth and risk appetite

Now, let’s talk about the more exciting stuff—risky investments.

Markets reward risk-takers. That’s page 1 of Finance 101—higher the risk, higher the return.

However, not everybody has a large appetite for risk. Before embarking on a long investment journey, investors must take cognizance of their net worth to establish a starting point. This helps make better decisions and set realistic goals. More importantly, it helps identify the investor’s risk appetite.

If you have enough wealth to fall back on, a job tenure, or ample monthly income, you may have a higher risk appetite. If your net worth is a humble figure or you’re on a fresher’s salary, your risk appetite may be low to moderate.

A large appetite for risk gives you the room to chase higher returns with risky asset classes like crypto or equity. Investors with low to moderate risk appetite are better off with fixed income securities but may take some equity exposure via index funds or mutual funds.

4. Don’t invest with a blindfold on, and always diversify

It’s fairly common for people to invest in something they don’t understand. It is absolutely critical to study the asset before putting money in, otherwise, it’s just gambling money away.

Investors study the features of a new smartphone inside out before making the purchase, and a similar approach must be taken for investments, and investment platforms like metatrader 4 apple mac os x, that are potentially worth far more than a smartphone.

If an investor doesn’t understand a product, they must either seek professional help or avoid investing altogether. However, not at the cost of diversification.

Imagine having a 100 percent equity portfolio during the 2008 financial crisis. It would have had the investor biting the dust. Some investors only invest in deposits, gold, or real-estate thinking they’re the safest investments. A concentrated portfolio, though, is a recipe for disaster.

For example, let’s compare the performance of an all-equity portfolio (Portfolio 1) vs. a portfolio with 60% equity, 30% long-term treasuries, and 10% gold (Portfolio 2):

Notice how the lack of diversification could have left the investor with close to $9,000 less.

If you don’t understand equities, invest in a mutual fund. If you don’t have enough capital for real estate, invest in a REIT. Always diversify!

5. Past returns and current price can lie, look for value

If only investing were that simple; investors could buy low, sell high, and go to sleep.

When investors see a price line turn green, their brain nudges them into believing that this asset is a worthy investment. Look at the line shoot up! Right?

Well, it depends. It’s important to understand that past returns are not an indicator of future performance, and price and value are two different concepts.

There are several methods of valuing each asset, and most are too complex or time-consuming for a small investor to spend time on. However, there are some simple methods, too. For example, instead of buying a stock just because its price tanked, look at its PE ratio to gauge the stock’s value.

Often, when a security’s price falls, there’s a good reason behind it. Remember, markets are efficient.
Chase value instead of price. Buy undervalued securities, and sooner or later, the price will likely adjust to reflect the real value—though there are no guarantees!

6. Embolden yourself to cut losses

To err is human. Small investors lose more money by holding bad investments than not picking good ones.
Emotion has a strong influence on an investor’s decision. It’s difficult for investors to accept that they have a rotten apple in their portfolio. Their reluctance to sell stems from aversion to loss, and can even prompt some investors to accumulate more of the rotten asset to average out the cost.
Loss aversion is natural, but being mindful can help. Holding low-yield insurance policies, underperforming stocks, and poorly managed mutual funds can drag the overall return of a portfolio to the ground. Instead, take charge and pull this money out.
Investing this money in an index fund instead will at least leave investors with something rather than just a dull asset skewing the entire portfolio’s performance.

7. Rejig your investments after special events

It’s always prudent to scan your portfolio at a healthy frequency. Quarterly is a good starting point, but the more frequently it is checked, the better. Apart from these periodic assessments, a portfolio must be assessed after a life-altering event as well.

  • Marriage: A new life comes with new goals. Expenses will rise, risk appetite will shift, and the net investible amount will rise if the spouse generates income. Investors must look at the spouse’s portfolio and their own to rejig both of them, and make future investment decisions accordingly.
  • A baby: A new family member means new responsibilities and added expenses. The arrival of a baby will introduce a new set of goals to invest towards, bring an additional payment towards life insurance premiums, and perhaps require a larger emergency fund.
  • Promotion: Promotions come with a pay raise, which means a larger surplus to invest each month. The best way to allocate an increase in monthly surplus is to increase the investments in all assets in the current portfolio in the same proportion.
    There may be other events that warrant a rejig. It’s always good to have a professional take care of this for investors who lack the time or knowledge for a portfolio rejig.

Conclusion
Emotional control, discipline, and consistency are quintessential components of an investor’s toolkit. Investment is not a one-off task, but an ongoing process that requires following a set of self-imposed rules with diligence. The tips shared above will go a long way in helping an investor secure their future financially. Take calculated risks and be patient, because remember—it’s a marathon, not a sprint.

Everything You Need to Know About Timeshare Maintenance Fees

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StrategyDriven Practices for Professionals Article |Timeshare Fees|Everything You Need to Know About Timeshare Maintenance FeesIf you have a timeshare, you are familiar with its maintenance fees. These are fees that are collected either monthly or annually to maintain the resort property. They go towards paying for insurance, utilities, upgrading the resort, or enhancing amenities for the resort. They may also be used for employee wages. Put simply, the maintenance fees are what ensure that the property is in mint condition whenever you pop in for your vacation. A good analogy would be that of servicing a car to keep it running smoothly. Let us expound more on what you need to know about timeshare maintenance fees.

The Fees are not Fixed

Timeshare maintenance fees are not fixed. They differ from one resort to the next. They will tend to vary depending on the size and type of the resort property. The maintenance charges are usually divided among the different owners of a particular timeshare.

According to a report issued by the American Resort Development Authority in 2019, the average maintenance fee per interval was $1000 in 2018 although the amount people were charged was dependent on the size of the property. The report also showed that maintenance fees are on the rise.

Here are some of the factors that contribute to the increased maintenance fees are:

  • In some cases, the management fees can start on the lower side as a way to attract potential buyers. The timeshare resort then gradually increases the prices once more people have acquired timeshares. You could look at it as a form of an introductory discount to you.
  • The resort may have underestimated how much it would cost to run the property. They increase the fees to cover some costs that they may have failed to inculcate earlier.
  • In some instances, there is an element of greed; some may take advantage of the owners’ legal obligation to pay the maintenance fees.

Can you make money from timeshares?

Timeshares are not investments. They are certainly not something that you buy with the hope of making money from them. They are a product that you buy to use. Nevertheless, there are some avenues that you could employ to lighten the load of maintenance fees. One such thing is renting out the timeshare. With timeshares, there are times when you are not in a position to use them. What better way to offset the maintenance fees than rent it out? You could use an agency that will help you advertise, manage the guests and also process the transactions.

Do timeshare maintenance fees vary depending on the week and the season you have the timeshare for?

All the timeshare owners of property pay the same maintenance fees. The fees are then pooled together to cover all the necessary costs. The time or season in which you have bought the timeshare; be it a high demand season or a low demand season, is not a factor in how much you pay in maintenance fees. Your fees will always be similar to other timeshare owners of the same unit.

Timeshare Inheritance

After many beautiful and memorable vacations, you may be considering giving your kids the timeshare so that they can continue to make more memories. But in many cases, the kids or any other heirs are not willing to take on the responsibility of paying the maintenance fees. Your children may have very different lifestyles and therefore not want to inherit your timeshare and the associated maintenance fees. So, how do you ensure that you do not transfer the unwanted timeshare maintenance fees to them? Timeshare contracts normally have a perpetuity clause that states that the timeshare is only valid if the original owner is alive but once they are deceased, the timeshare will be passed to the deceased estate. This way, the inheritors of the estate will be liable for the annual maintenance fees.

This passes the financial burden to the inheritors of the deceased’s estate. In such a case, if the inheritors do not wish to take the responsibility of timeshare ownership, they could consider declining the timeshare inheritance. They could do this by sending a letter to the timeshare resort to notify them that the owner is deceased and will no longer be needing the timeshare. However, the estate is relieved of the timeshare liabilities only if all the pending maintenance fees are paid.

What Happens When You Can’t Afford to Pay the Maintenance Fees?

When you purchase a timeshare, you enter a legally binding contract in which you agree to pay the maintenance fees for the duration of the timeshare ownership. When you stop paying, you generally default on the ownership of the timeshare. You will not be able to use the vacation destination plus defaulting on maintenance fees could also damage your credit score. The timeshare company could also charge you late fees and interests. Some resorts also go the extra mile of taking timeshare owners to court to compel them to pay bills that are past due.

When the maintenance fees become cumbersome, your safest option is to forfeit responsibly.

You could gift the timeshare to a friend or family member if you can. You could also use the services of a well-established and trusted timeshare cancellation company to help you sell. You can look into the reviews covering top companies like Lonestar Transfer to evaluate if this is the right option for you. Take your time to check on the costs, services, and what other customers are saying. By forfeiting your timeshare responsibly, you will prevent legal and financial issues in the future.

Can Timeshare maintenance Fees be Claimed on Taxes?

Timeshare maintenance fees are generally not tax-deductible but there are some other costs you can write off. Talk to your accountant as there could be other elements of timeshare and tax options. There are elements such as interest expenses that you could claim.

Wrap up

In conclusion, it is vital to understand timeshare maintenance fees before you buy one. It will help you avoid getting stuck with a property that will bloat your finances. You should always seek legal help before you sign any timeshare contract. It is also good to seek help if you are looking for a timeshare exit.