Author: Kivo Daily Staff

Many in the U.S. die from unintentional firearm injuries every year, but does this mean you should be covered with gun liability insurance?  Although gun ownership is a right in America to help you protect your loved ones, it still comes with a serious degree of risk and responsibility.  In fact, Americans are four times more likely to die from a gun accidentally going off than in any other high-income country.  

Unintended shootings are mostly preventable.  Many unintentional shootings usually involve other factors like alcohol.  Teenagers have the highest risk when it comes to unintentional gun deaths as parents of teenagers are actually more likely than those with younger children to store guns unlocked, loaded, or both.  More than 80% of teen deaths by suicide happen using a firearm belonging to a family member. 

Nonetheless, at least 377 unintentional shootings in 2021 were caused by children, leading to 154 deaths and 242 injuries.  At the moment, more than 4.6 million children are living in homes that have at least one unloaded and unlocked gun.  This makes it easy to understand how almost 80% of school shootings are conducted by children who are able to obtain household firearms without much difficulty.  

Yet does insurance make guns safer?  Insurance itself doesn’t make guns any safer, but it does encourage behavior that can lead to fewer deaths.  Most unintentional shootings with a firearm that have caused injuries or deaths could have been prevented if owners stored their guns correctly.  Insurance companies have incentives as a result of good gun practices, such as offering lower premiums, which could alone encourage more owners to adjust their gun safety.   

Leaving a gun in a more accessible place compared to storing it in a proper gun safe can triple the risk of death by suicide as it does not help put a barrier between thought and action.  Installing a child-proof safety trigger lock and a loaded chamber indicator could prevent another 31% of accidental deaths.  Attending gun safety courses can additionally help owners understand how to properly store their firearms.  

Standard homeowners and renters insurance can give you some coverage over firearms, but there are some situations in which insurance does not cover the cost of damages.  Homeowners or renters insurance usually doesn’t cover crimes committed using an unreported stolen firearm, intentional harm like property damage caused by firing a gun with purpose, and costs associated with self-defense use.

On the other hand, theft or loss of firearms is covered as more than $135 million worth of firearms were stolen in 2020.  Accidental shootings that involve a victim who is not a member of the policyholder’s household are usually covered as well as liability.   

Additional coverage options for firearms are available for you to add to your policies.  A personal property protection policy can work well if you have a valuable collection of guns as it extends the coverage limit for any loss or theft of your firearms.  Umbrella liability extends coverage limits for all liability, even firearms.  

If you feel that the homeowners or renters policies do not fully cover your individual situation, you can acquire a separate gun insurance policy.  A gun liability insurance policy covers damages caused by gun negligence or accidental shootings.  Some policies can even cover self-defense actions considered to be “reasonable force.” Another choice is to get self-defense insurance.  

31% of gun owners have used a firearm for self-defense, and no shots were fired in 82% of those incidents.  Self-defense insurance typically includes coverage for civil and criminal defense expenses as well as civil damages.  Sometimes policies will cover firearm replacements, psychological support, bail assistance, and any amount of income lost from a required presence on a court day.  

So do you need gun insurance?  It is important to consider getting gun insurance coverage and understand all of your gun insurance options if you own firearms of any amount.  Even if gun liability insurance may not be required where you live, legislation could change in the near future, so it’s best to be prepared and make the best decision that will help you properly protect you and your family.  

The possibilities in the creative world are unlimited, and entertainers are finding ways to leverage those opportunities to grow their brands. Stack Pack is a musician and entrepreneur channeling his passions into life-changing projects.

As a global serial entrepreneur, Stack Pack has dipped his hand into many jars and has spent years building careers in music, fashion, and business. Now, he’s switching into the digital world to leverage all the opportunities it has to offer. He has launched a new record label called Digital Domination Group while seeking other ways to build his dream life. He’s also the founder of the digital marketing agency Internet Traffic LLC, which specializes in social media campaigns and digital billboard placements across the world to reach millions of people.  Under the Internet Traffic LLC umbrella, Stack Pack established Internet TrafficMag, a digital magazine company.

With all these companies and the impact they’ve made for years attached to his name, Stack Pack has established himself as an entrepreneur to look out for. He plans to relaunch his digital magazine business this year and extend the company’s services to reach more brands and companies. He has also worked with Preview Models in Hollywood as an artist and fashion model. His extensive reach in the entertainment industry has helped him excel as the head of digital marketing for Afra Flix in North America.

Having such an extensive resume in the entertainment and showbiz business has made Stack Pack a force to reckon with. He also made waves on the audio-chat application, Clubhouse. Stack Pack’s work ethic and existence revolve around building the right connections and making everyday work count. He believes in honesty, transparency, and being straightforward when dealing with people.

In addition to all he’s been building in the business world, Stack Pack still has his music career on lock and has described his new music projects as exciting. The projects he worked on with his brother are being distributed through Intercept Music in California.

Stack Pack’s journey as an entertainer and entrepreneur has been filled with different experiences, and he has used them to propel himself into the authority figure he is today. He believes staying relevant, fresh, and on top of everything new and trendy are the strategies to survive in the cutthroat industry. Also, staying determined over the years has helped him navigate different obstacles. “Don’t ever give up, and if they ever try to put you in a box, break the box and do what you want to do. You are your journey, and you own it,” he said.

A lot of businesses subscribe to a hire slow, fire fast maxim.  This means that they want to take their time in hiring the correct candidate and, if they make a mistake, they will fix their error by termination.  Ideally, a business that follows the first rule won’t have to make good on the second.

But how does the maxim apply in today’s labor market?  The Great Resignation that saw 4.5 million workers voluntarily leave their jobs was only a few months ago.  The recent pandemic has convinced a lot of workers to reevaluate their priorities in life.  Many are leaving their current position in search of a better life balance or more remote options.  When a company has an urgent vacancy, they may feel rushed to secure a replacement.  Due in part to these pressures, almost 3 in every 4 employers say they’ve hired the wrong person for a job before.  When a hiring mistake happens, fixing it by firing someone is unpleasant for all parties. 

It’s time for businesses to do a little reevaluation of their own.  How can your company follow hire slow, fire fast principles in today’s workforce?  What does that phrase really mean in 2022?  To start, it might be easier to cover what it doesn’t mean.  Hiring slow doesn’t mean waiting for the perfect candidate to apply to your company.  Most employees that fit your criteria will still need training in order to excel in their role.  Hiring slow means considering your options before making a decision.  Don’t just hire a candidate because they applied early.

On a similar note, new hires can’t be expected to perform perfectly right away.  Firing fast is not the same as firing on a whim.  Termination is no substitute for training, coaching, or potential role changes to prop up a troubled, but good employee.  The real question is about fit: how well does the new hire fit in with their team?  Do they fall in line with the company’s values?  If a new hire truly is a bad fit, they won’t be happy staying.  Their presence may cause an entire team to suffer.  When that becomes the case, firing should be done directly and with compassion.  Firing may never be easy, but it doesn’t have to be extreme either.  Better.com received major backlash when it fired 900 employees on a Zoom call. Other companies can learn from their mistakes.

Another thing to think about in the hiring process is the candidate’s point of view.  Selective hiring is a luxury not every business can afford.  If your business wants to be able to demand a lot of employees, it needs to be a place where people want to work.  Sometimes that means getting your company’s name out there.  Other times it means examining your work environment.  What benefits do employees receive from working there?  What is the company culture like?  An important aspect of hiring with care and firing when necessary is maintaining a positive corporate culture.

It has been nearly a century since Jim Tucker’s grandfather and siblings started a family tradition that continues to resonate today. For the co-founder of Tucker Bria Wealth Strategies, what began among seven brothers and sisters in 1930s Pittsburgh, PA, whose parents immigrated from Ukraine, is now being enjoyed by family members around the world—and it is something that Tucker believes can teach other families about the benefits of thinking beyond their lives.

For Tucker, it’s called Cousin’s Club.

Started in Pittsburgh as a way for Tucker’s grandfather and extended family to stay in touch, Cousin’s Club has grown into the fifth generation.  With the advent of social media, it allows family members to connect regardless of where they currently live.

“We are a much more mobile society than we were in the 1930s,” Tucker says. “But with Facebook, we have a way for all of the cousins to stay in touch.”

In a world in which families are often spread out across continents, Tucker stresses the importance of family and connection. By leveraging social media, Cousin’s Club remains active and thriving more than 90 years after it was originally launched. And it has led to unexpected benefits.

“This past summer, my son had a college internship in Atlanta.  He connected with a cousin who was going to Emory University and staying in Atlanta for the summer,” Tucker says. “They floated down the Chattahoochee, went to Braves games together, and created a family connection unlikely without Cousins Club.”

“The way I think about it, not only did my son meet a cousin, but also he jumped a branch of the family tree—he met a fourth-generation cousin descended from a sister of my grandfather.”  For Tucker, a family tradition like Cousin’s Club is about more than joining a Facebook group and staying in touch with family members. The entire concept provides a message about the impact his clients can have on future generations.

And for an experienced wealth advisor, this is the discussion Tucker often has with his clients. Not necessarily about wealth, but about impact.

“It is all part of the equation,” Tucker says. “It’s the sort of legacy that you want to leave, which is not necessarily what you want your money to do for you, but what you want your family to become or what impact you wish to have for the greater good beyond your lifetime.”

Tucker grew up believing that all families had some version of a Cousin’s Club. It was only after he began talking about it with friends that he realized how unique his situation truly was.

“I remember when I was in elementary school, and someone asked me what I was doing for the weekend,” Tucker says. “I said I was going to my Cousin’s Club picnic, and they looked at me like, what on earth is that?”

Today, Tucker believes that for anyone wanting to cement their family history and build a lasting bond that has the potential to span generations, starting a Cousin’s Club is a great place to begin. Pittsburgh-based family members still meet on the first Sunday of the month, and family members across the country share updates on their Facebook group.

And the best part is, what began from a single generation has sent ripples out through nearly a century of family members, connecting Tucker’s family to its past—and their future.

“You plant the oak tree, and you may not see it grow,” Tucker says. “But others will enjoy the benefits of what you started.”

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Tucker Bria Wealth Strategies, LLC is a well-known wealth advisory firm that empowers clients to use their wealth not only for themselves, but also to build a lasting, meaningful impact for future generations. Their office is located at 3100 Tower Blvd, Suite 117, Durham, NC  27707; phone: (919) 381-5780.  To learn more about their mission and values, please visit www.tuckerbria.com.

Securities and advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. Fixed Insurance products and services offered through Tucker Bria Wealth Strategies, LLC. 

For most people, spending money and building personal wealth are at opposite ends of the financial planning spectrum. Whether they are taking out a mortgage on a home, purchasing a new car, or buying gifts for their friends and loved ones, people will work hard and save their earnings to buy the things they need and want. 

As Largo Financial Services founder and CEO Douglas Eze explains, buying gifts does not mean that you have taken a step back toward planning your financial future. However, consumers must learn to think about purchases in a different wayand use certain strategies —to ensure that they continue to make progress toward their financial goals even when they spend.

“No matter what you do, you must remember to pay back your future self,” Eze says. 

What does this mean for the average shopper? For Eze, it means viewing yourself the same way you do credit card companies, and not only repaying yourself for purchases—but repaying interest as well.

This is particularly important when making cash purchases. As an example, someone who is planning a family trip may use their credit card to finance the vacation. Once the trip is over, they repay the credit card, plus interest. But if they are making purchases (either for vacations or everyday items) with cash, they don’t consider paying themselves interest on those purchases.

“The best way to pay back your future self is by acting like you went to the bank and borrowed the money,” Eze says. “When you start paying that money back, apply interest.”

Consumers can then put those funds into something like cash value life insurance, accruing interest from a life insurance contract. By doing it this way, people can ensure that the purchases they make today never “rob from their future selves.” Instead, they will pay themselves back—plus interest—and continue to grow their personal wealth.

It is a unique method of budgeting that Eze teaches his clients, and over time, it will pay incredible dividends to people who commit to the process.

“Let’s say you spent $5,000 this past month for purchases, you get out your calculator and do some simple math,” Eze says. “You borrowed $5,000 from your future self. Five years from now, if you took five percent interest, your monthly payment will be $94.36 for that five-year loan.”

Instead of thinking about cash payments as a form of self-financing, Eze says you can be much more successful if you imagine your future self, loaning you the money for your purchase.

“With the $5,000 loan, it will take you five years to pay back your future self $661.37 in interest,” Eze says. “So, this is a way to really force yourself to start saving.”

There is nothing inherently wrong with planning vacations, buying gifts for loved ones, or making everyday purchases with cash, Eze says. But if you want to build your personal wealth at the same time you spend your hard-earned cash, Eze says the best way is to become more like a bank yourself.

Instead of simply paying cash for items, if you imagine yourself in the future, loaning you the money to buy what you need, then you will get into the rhythm of paying yourself interest on everything you buy. 

And that, Eze says, can have incredible results.

Douglas Eze is the founder and CEO of Largo Financial Services. He launched his company with the vision to provide individuals and small business owners with the education and guidance needed to achieve financial freedom. 

To learn more about their financial services, please visit www.largofinancialservices.com.