Tips on How to Negotiate a Used Car Price

Posted on February 16, 2023February 13, 2023 by Shield Insurance Agency

Foremost Insurance Blog | by Marrio Roberts Jr. | Used Car | Get a quote today from Shield Insurance

The sticker price on used cars usually isn’t the cheapest price the seller will accept. Whether you’re buying from a dealership or a private seller, their main goal is likely to make a profit. This means they will probably try to sell the car for more than it’s worth. Unfortunately, some people don’t know this, and they pay the asking price. Luckily, savvy buyers like you know better, and Foremost® is here to help you with some negotiating tips.

Here are a few steps to consider.

Find out the market value of the vehicle you want to buy.
You may want to know exactly how much a dealer will come down on the price of a used car. The answer is, it depends. Several factors, including the year, make and model of the vehicle, along with how much the seller paid for the car will determine how much they can come down.

As a starting point, you should find the market value of the vehicle you’re interested in. Sites like Kelley Blue Book can help with this. All you need to do is enter the year, make and model of the vehicle, along with your ZIP Code, and you’ll see what recent buyers in your area have paid for the same vehicle. If you see that people are paying $25,000 for a vehicle and the seller is asking for $30,000, you know you have some room to negotiate.

Consider making your initial offer for a used car lower than what you’re willing to pay.

A mistake you can make when negotiating a used car price is immediately telling the seller the maximum amount you’re willing to pay. Sellers rarely accept the first offer, much like you aren’t accepting their initial number.

If you tell the seller your max offer right away, they may assume that you’re willing to pay more.

Make smart counteroffers for a used car.

Three things to do when you’re interested in buying umbrella insurance

Posted on February 16, 2023March 2, 2023 by admin

Umbrella Insurance | Shield Quoting Portal | Business Insurance

Umbrella insurance is great to have if you want total financial protection. Consumers on the market for umbrella insurance in Michigan can purchase the coverage they’re looking for from Shield Insurance Agency.

It’s essential that you go through a few steps before you purchase an umbrella insurance policy.

The following are three things to do when you’re interested in buying umbrella insurance:

Research umbrella insurance so that you know what you’re getting

Misconceptions about umbrella insurance are common, so it’s important to do your research and make sure you completely understand umbrella insurance before purchasing a policy.

Remember that umbrella insurance protects you against liability expenses. This is not a type of insurance that insures your personal belongings like your vehicle.

Determine what the total value of all your assets is

You’ll need to choose how much coverage to carry when you purchase umbrella insurance. It’s best if you have enough coverage to equal your net worth.

As part of preparing to buy umbrella insurance, it’s good to evaluate your assets and find out what your total net worth is. This will help you to choose the right amount of coverage.

Shop around with different umbrella insurance providers

You’ll have options to pick from when you buy an umbrella insurance policy. You should explore your options so that you can get a policy that meets your specific needs.

Research different umbrella insurance providers in your area and get quotes on policies from numerous companies so that you can compare.

Give Us A Call

Once you’ve done all the things mentioned above, you can choose an umbrella insurance policy that’s right for you. Shield Insurance Agency can come to your assistance to get a quote on an umbrella insurance policy in Michigan.

Easy Science Fair Projects

Posted on February 15, 2023February 10, 2023 by Shield Insurance Agency

LittleBinsForLittleHands.com | By Sarah McClellan | January 23, 2023 | Science Fair | Shield Insurance

ELEMENTARY SCIENCE FAIR PROJECT IDEAS

When it comes to science fair projects, it can be difficult to help your kids find balance. Too often, kids want to take on something that takes TOO much time and resources! While other kids may go for projects that have been done time and time again, and provide little to no challenge for them. Ta, da… Introducing our list of easy science fair projects with simple tips to help make your kid’s science fair project a big success this year!

HOW TO CHOOSE A SCIENCE FAIR PROJECT

We know that you are looking for a fast and easy science fair project that is also cool! Below you will find simple tips for how to choose the best science fair project, as well as some unique and super easy science fair project ideas.

These science fair projects really don’t require a ton of supplies. Most can be completed with items you can find around the house. Instead, you will find interesting and fun ideas that are suitable for kindergarten, to elementary, and older.

BONUS RESOURCES

Make sure to read up on the engineering design process, scientific method for kids and the best science and engineering practices explained. These processes of asking questions, collecting data, communicating results etc. will be invaluable as a framework for a science fair project.

START WITH A QUESTION

Science fair projects are at their core problem-based learning. You start with a great question that attempts to solve a problem. The best questions can’t be answered just by searching for answers online but rather with experiments and results.

Effective questions include questions asking about causes and effects. For example, “What effect does changing how often I water have on plant growth?”

Questions that focus on causes and effects make for realistic and achievable science fair projects and lead to tangible and easy-to-interpret results.

EXAMPLES OF QUESTION-BASED SCIENCE FAIR PROJECTS

WHY DOES A VOLCANO ERUPT?

The homemade volcano science fair project is a classic baking soda and vinegar chemistry demonstration that simulates an erupting volcano. While a real volcano doesn’t erupt in this manner, the chemical reaction makes an appealing demonstration that can further be explained in the results and conclusion phase. This is both a question and research-based project!

WHAT MILK IS BEST FOR THE MAGIC MILK EXPERIMENT?

Turn this magic milk activity into an easy science fair project by investigating what happens when you change the type of milk used. Explore other varieties of milk including reduced-fat milk, heavy cream, and even non-dairy milk!

HOW DOES WATER AFFECT SEED GERMINATION?

Turn this seed germination jar into an easy science fair project by exploring what happens to seed growth when you change the amount of water used. Set up several seed germination jars to observe and record growth, depending on how much water you add to each jar.

Read on for more great Science Fair ideas

30 Fun Valentine’s Day Facts That Will Surprise You

Posted on February 14, 2023February 10, 2023 by Shield Insurance Agency

Including the history behind Valentine’s holiday.

Goodhousekeeping.com | BY CAMERON JENKINS | UPDATED: JAN 12, 2023 | Valentines Day | Shield

When you start to think of Valentine’s Day, you may envision gorgeous flower bouquets, heart-shaped balloons, tons of sweet treats, and sentimental cards that are sure to make you blush. But have you ever stopped to think about how this tradition of celebrating love on February 14 came to be? Look no further than our list of interesting and fun Valentine’s Day facts to inform you and your loved ones about the history behind why this special day of love is celebrated.

While some of these little-known truths about the holiday may be expected, like how much Americans spend on the perfect V-Day gift or when the very first Valentine’s message was sent, others are more unusual. In fact, some of the earlier customs associated with the holiday were not romantic at all, but instead focused on fertility and included sacrificing animals. (We know, the complete opposite of a lovey-dovey grand gesture.)

Regardless of how much or how little you already know about the most loving day of the year, these factoids are sure to come in handy as an icebreaker for your Valentine’s Day party and will definitely give you the upper hand at any Galentine’s Day trivia night.

1. St. Valentine wasn’t just one person.

You may already know that Valentine’s Day was named after its patron saint, St. Valentine — but there’s actually some confusion surrounding which St. Valentine the holiday technically honors. According to History.com, there are at least two men named Valentine that could’ve inspired the holiday, including one Valentine who was a priest in third century Rome. As the story goes, this Valentine defied Emperor Claudius II’s ban on marriage (he thought it distracted young soldiers), illegally marrying couples in the spirit of love until he was caught and sentenced to death.

Another legend suggests that Valentine was killed for attempting to help Christians escape prison in Rome, and that he actually sent the first “valentine” message himself while imprisoned, writing a letter signed “From your Valentine.”

2. Valentine’s Day has its roots in an ancient Pagan festival.

Though some historians believe that Valentine’s Day commemorates the death of St. Valentine on February 14, others believe that the holiday actually has its origins in a Pagan fertility festival called “Lupercalia,” which was celebrated on February 15 in ancient Rome. Dedicated to Faunus, the Roman god of agriculture, and Roman founders Romulus and Remus, the day was celebrated by sacrificing animals and smacking women with animal hides, a practice that was believed to encourage fertility.

3. In the 1300s, it officially became a holiday associated with love.

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Steps to Take Now to Get a Jump on Your Taxes

Steps to Take Now to Start Your Taxes

Posted on February 13, 2023June 14, 2023 by Shield Insurance Agency

IRS.gov | 09-Feb-2023 | Taxes | Insurance Quoting Portal | Types of Insurance with Shield Agency

Tax planning is for everyone. Get ready today to file your 2022 federal income taxes. Planning ahead can help you file an accurate return and avoid processing delays that can slow your tax refund.

Steps you can take now to make filing taxes easier in 2023

Create or access your account information at IRS.gov/account

Use your online account to securely access the latest information available about your federal tax account and see information from your most recently filed tax return.

You can:

View your tax owed, payments, and payment plans
Make payments and apply for payment plans
Access your tax records
Sign Power of Attorney authorizations electronically from your tax professional
Manage your communication preferences from the IRS

Gather and organize your tax records

Organized tax records make preparing a complete and accurate tax return easier. It helps you avoid errors that lead to processing delays that slow your refund and may also help you find overlooked deductions or credits.

Wait to file until you have your tax records including:

Forms W-2 from your employer(s)
Forms 1099 from banks, issuing agencies, and other payers including unemployment compensation, dividends, pension, annuity, or retirement plan distributions
Form 1099-K, 1099-MISC, W-2, or other income statements if you worked in the gig economy
Form 1099-INT if you were paid interest
Other income documents and records of digital asset transactions
Form 1095-A, Health Insurance Marketplace Statement, to reconcile advance payments or claims Premium Tax Credits for 2022 Marketplace coverage
IRS or other agency letters
CP01A Notice with your new Identity Protection PIN

Notify the IRS if your address changes and notify the Social Security Administration of a legal name change.

Remember, most income is taxable. This includes:

Check your Individual Tax Identification Number (ITIN)

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Types of Retirement Plans for Individuals in 2023

Posted on February 10, 2023February 6, 2023 by Shield Insurance Agency

PersonalCapital.com | By JJ Lester, CFP® | November 10, 2022 | Retirement Plans | Life Insurance

Imagining your retirement can be exciting, but for many, building your nest egg can also be overwhelming.

There are numerous types of retirement plans for individuals. Choosing which one to use may leave you unsure of the best option. The best way to feel confident about your retirement savings is by having a long-term financial plan and a fiduciary financial professional on your team.

In this article, I’ll give a primer on the most common retirement account types, how they work, and who they might work best for.

Selecting the right savings vehicle is not always straightforward. Many factors come into play when you are building a retirement plan: your current age, income level, and ideal tax-optimization strategy. Here are some common retirement plans and criteria to consider.

Tip: Free personal finance tools can help you analyze your retirement plan. A good place to start is with Personal Capital’s Retirement Planner, which will help you assess your retirement readiness and identify areas for improvement.

1. Traditional 401k | Retirement Plans

One of the most popular and widely known investment tools, the 401k, is an employer-sponsored retirement plan that lets you save for retirement in a tax-sheltered manner.

Traditional 401k contributions are made with pre-tax dollars, ultimately reducing your taxable income and allowing your contributions to grow tax-deferred until you withdraw your money in retirement.

In 2022, the contribution limit is $20,500 ($22,500 in 2023), and individuals aged 50 and over may contribute up to an additional catch-up amount of $6,500 ($7,500 in 2023).

Employers may offer a profit-sharing or employer match program where they contribute a certain percentage to your 401k plan. Employers can utilize different vesting requirements, such as being employed for a certain number of years. Other times, contributions made on behalf of your employer may be 100% immediately vested, meaning that money is in your own hands once applied to your 401k account. If an employer requires a certain amount or percentage of your salary to be contributed to your 401k in order to receive the matching benefit, you should contribute at least that amount to take full advantage of your employer’s contribution.

Before withdrawing contributions from your 401k, you should work with your financial advisor to avoid paying withdrawal penalties. If you are age 59½ or younger, withdrawals are assessed at a 10% penalty in addition to ordinary income taxes (taxed at your highest marginal tax rate). Though there are a few IRS exceptions from the early withdrawal penalty, taking money out of your 401k before you are 59½ or at the age of 72 (for Required Minimum Distributions) is usually not advised.

Ideal For: If you think you will be in a lower marginal tax bracket when you start withdrawing funds in retirement, a traditional 401k plan can be advantageous.

2. Roth 401k

CEOs still grappling to define work’s new normal

Posted on February 9, 2023April 25, 2023 by Shield Insurance Agency

Worklife.com | BY LAURA PETRECCA | JANUARY 4, 2023 | Work’s new normal | Business Insurance

Inflation.

A potential recession.

Geopolitical uncertainty.

Managing a remote workforce.

Company leaders are buckling up for a bumpy 2023. After nearly three years of dealing with pandemic-induced stressors, they’re bracing for more tough times to come with economic instability, geopolitical risks, and talent-related concerns, among other looming issues.

As we enter the new year, more than a dozen top executives have shared their expected challenges with WorkLife. They also reflected upon their most pressing concerns in 2022 and addressed how they cope with continuous change.

The leaders work at firms that range from startups to well-established companies and represent different fields, such as communications, health care, food service, and entertainment. Yet, many of their concerns overlapped. In their predictions for 2023, one overarching theme emerged: expect the unexpected.

“Never before have CEOs faced so many different variables in trying to plan for, budget and strategize” for a new year, said Constantine Alexandrakis, CEO of leadership advisory firm Russell Reynolds Associates, who speaks with other CEOs regularly. “The unpredictability of the unpredictability is the biggest thing keeping us up at night.”

At his firm, “the biggest challenge will be navigating that uncertainty, pivoting resources, attention and investments to where the opportunities are and pivoting away from the spots that will be particularly troubled,” he said.

For Lisa Osborne Ross, U.S. CEO at public relations giant Edelman, the most daunting challenge of the last few years was simply accepting the ambiguity and uncertainty. “I thought the hard would be over by now,” she said. “But we still have yet to truly define our new normal, and that lack of clarity on the future of our workplace — and our world — continues. Being comfortable with those lingering unknowns, while still seeking to move forward and make progress, is not an easy position to be in.”

Looking ahead, “the biggest leadership challenge of 2023 will be learning how to not just survive but thrive, regardless of what comes our way,” she added.

Contending with internal and external issues | Work’s new normal

And indeed, there’s much coming their way.

There are internal concerns, such as keeping a remote workforce productive and engaged, as well as outside factors, such as inflation, economic instability, and the widespread effects of the war in Ukraine.

On the workforce front, Melissa Bouma, CEO of content marketing agency Manifest, said finding a hybrid work model where employees can effectively ideate and create is among her most significant issues as a leader.

Like countless other CEOs, Bouma also manages employees that had an incredibly tough past few years. “We went through the pandemic. We went through societal evolution. We went through a Great Resignation and reshuffle,” she said. And now there are concerns about inflation and the overall economy.

One of her biggest challenges in 2023 is “to find a way to encourage everyone at the same time to get excited and passionate and remain that way,” she said.

Great blogs by Shield Insurance Agency

After a record year of breaches, two cybersecurity experts share tips on securing your business's most valuable assets to prevent a cyberattack.

How to Prep for a Cyberattack, and 3 Steps to Take When Your Company Does Get Hacked

Posted on February 7, 2023February 6, 2023 by Shield Insurance Agency

After a record year of breaches, two cybersecurity experts share tips on securing your business’s most valuable assets to prevent a cyberattack.

inc.com | BY BEN SHERRY | Cyberattack | Shield Cyber Liability Insurance

Was your company hacked in the past year? If not, consider yourself lucky.

It’s not a question of if, experts say, but when you’ll get hacked.

Cybercrime is up exponentially, driven in part by the pandemic shift to remote work and employees using their own devices to access company networks or, alternatively, adopting work devices for personal use. According to a year-end report from cybersecurity services provider Flashpoint, 4,146 global data breaches were reported from January 1, 2022, to November 30, 2022. About a third of those, 31.8 percent, targeted U.S.-based companies. And while we hear a lot about the hacks at large companies and organizations, small and midsize companies tend to be even more vulnerable to cyberattacks.

“I often see smaller companies that say I’m small enough that hackers wouldn’t care about me,” says Tiffany Kleemann, clients, and markets leader for cyber and strategic risk at Deloitte. “That’s just simply untrue. I don’t care what size business you are–everyone these days is a target.”

Kleemann points out that smaller companies that experience hacks can face an existential threat. Take ransomware for example, a type of cybercrime in which an attacker encrypts a victim’s data and demands a ransom from the victim to restore access to the data. A smaller company without the cash flow to meet a hacker’s demands could be sunk.

Cyberattack prevention starts with awareness

Kleemann says that “job one” for every company looking to safeguard from cybercrime should be to conduct a cyber risk assessment. A cyber risk assessment is a process for evaluating the potential risks to an organization’s technology infrastructure, business processes, and security controls to identify vulnerabilities and the potential impact of a hack or data breach. Kleemann likens the process to identifying your company’s “crown jewels,” and then formulating specific plans for how to safeguard those valuable assets.

Also vitally important is training your employees to identify attempts from external actors to break into your internal systems. These attempts often come in the form of phishing scams, in which someone attempts to obtain sensitive information, such as passwords and credit card numbers, by disguising oneself as a trustworthy entity via electronic communication. These days, Kleemann says, cybersecurity consultants are going a step further than hosting classes on phishing scams; they’re sending fake phishing emails to employees as a low-stakes way of testing their abilities to recognize threats.

Cyberattack Damage-control steps

But what if it’s too late? What should you do when you check your website and suddenly, instead of your homepage, you see a message demanding that you pay for the ability to regain control of your business? That’s where Frank Shultz, chairman and CEO of business resilience solutions firm Infinite Blue, comes in. Shultz has vast experience helping companies pick up the pieces after a hack, and he shared three key tips with Inc. readers.

1. Trust your gut

If you have any suspicion that an intruder has breached your network, trust your gut and immediately take all communications with your employees to a separate, secure network that isn’t being monitored (examples include Signal and Wire). Shultz says that he’s seen hacks in which the infiltrators impersonate an employee in the company’s Slack channel, and then are able to watch along while the company formulates a plan to counter the hack. Shultz adds that businesses should consider adopting a code word to let employees know that there’s been a breach and to switch to the secure messaging service.

2. Get insurance

Shultz also says that companies of all sizes should consider getting cybersecurity insurance, which he claims can be a lifesaver if you have no other option but to pay out a ransom. This type of insurance is just emerging, so look for policies that include access to teams that help negotiate with the hackers, and help craft communications about the hack to employees and customers.

3. Know your IP

The best thing you can do is be prepared and ready to quickly take action, figure out which of your assets would be the most painful to lose and invest heavily to keep those assets secure.

The tech industry’s moment of reckoning: layoffs and hiring freezes

Posted on February 6, 2023January 31, 2023 by Shield Insurance Agency

The Verge | By VERGE STAFF | Jan 26, 2023 | layoffs and hiring freezes | Business Insurance with Shield

Over the past few months, the economy has started to turn, and tech workers are being hit hard. Meta, Twitter, and more have fired thousands, and others are slowing or freezing hiring.

Over the last year, it feels like every day, we’ve heard the news of mass layoffs and hiring freezes from big tech companies that were formerly famous for having deep pockets and near-endless amenities for workers.

Now, it’s clear that the industry as a whole is tightening its belt, leaving hundreds of thousands of employees out of work — and more wondering if they’ll have a job within the next few months or searching for jobs in an industry that no longer has a spot for them. It’s gotten to the point where one tech recruiting site created an interactive tool to track the layoffs across established companies and startups.

To open 2023, Amazon announced layoffs of mostly corporate employees will trim 18,000 workers from the roster, the biggest reduction — in raw numbers, despite Amazon’s 1.5 million-strong workforce — yet. Slightly smaller raw numbers popped up at Google, with 12,000 layoffs, and Microsoft, with 10,000.

Elizabeth Lopatto spoke to experts to try and answer the question of why so many layoffs are happening right now, despite tech companies continuing to register sizable profits. One reason is that “investors have changed how they’re evaluating companies,” even if there’s a lack of evidence that the layoffs can help solve any of the problems they may have.

Twitter’s layoffs happened because Elon Musk bought the company and took it private, and Meta’s CEO claims its 13 percent reduction in staff is a course correction after the company went on a hiring spree during the online retail boom that came out of the pandemic. Companies that rely on advertising, like Meta and Snap, have also been hit hard by privacy policy changes from Apple.

Meanwhile, the iPhone maker is blaming the economy for its own hiring slowdown, despite being one of the few companies still announcing record-breaking earnings and beating estimates.

We’ll probably see even more reasons for layoffs or freezes as other companies announce their own. Stay tuned to this page for the latest on big tech companies’ cost-cutting measures and how they affect current and former employees.

Here’s all our coverage of the recent outbreak of layoffs and hiring freezes from big tech, auto, crypto, and more:

Read m ore on layoffs and hiring ...

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Groundhog Day

Posted on February 2, 2023January 24, 2023 by Shield Insurance Agency

Groundhog.org | February 2023 | Groundhog Day | Shield Insurance Agency

GROUNDHOG DAY, FEBRUARY 2ND 2023

Groundhog Day is a Popular Tradition

A popular tradition in the United States, Groundhog Day is also a legend that traverses centuries, its origins clouded in the mists of time with ethnic cultures and animals awakening on specific dates. Myths such as this tie our present to the distant past when nature did, indeed, influence our lives. It is the day that the Groundhog comes out of his hole after a long winter sleep to look for his shadow.

If he sees it, he regards it as an omen of six more weeks of bad weather and returns to his hole.

If the day is cloudy and, hence, shadowless, he takes it as a sign of spring and stays above ground.

The groundhog tradition stems from similar beliefs associated with Candlemas Day and the days of early Christians in Europe, and for centuries the custom was to have the clergy bless candles and distribute them to the people. Even then, it marked a milestone in the winter and the weather that day was important.

Legend & Lore

One holiday that brings thousands of people together from all over the world to celebrate the prediction of a furry forecaster.

What would you rather be doing in the middle of the night, in the middle of the winter in western PA? How about enjoying the ambiance of the brisk night air with thousands of new friends by your side, waiting for the Seer of Seers, Punxsutawney Phil, to make his prognostication sounds like a great thing to experience!

Whether Groundhog Day has been on your bucket list for years or it is your birthday, or if you just would like a reason to celebrate — Groundhog Day is the event for you.

The History of Groundhog Day

The Christian religious holiday of Candlemas Day has become most commonly associated with the current celebration, but it’s roots are older than that. The celebration started in Christianity as the day, (February 2nd), when Christians would take their candles to the church to have them blessed. This, they felt, would bring blessings to their household for the remaining winter.

As time rolled on the day evolved into another form. The following English folk song highlights the transition to weather prognostication.

If Candlemas be fair and bright,
Come, Winter, have another flight;
If Candlemas brings clouds and rain,
Go Winter, and come not again.

This “interpretation” of Candlemas Day became the norm for most of Europe. As you can read, there is no mention of an animal of any kind in the preceding song. It wasn’t until this traditional belief was introduced to Germany that an animal was introduced into the lore, hence another evolution of February 2nd. If, according to German lore, the hedgehog saw his shadow on Candlemas Day there would be a “Second Winter” or 6 more weeks of bad weather. As German settlers came to what is now the United States, so too came their traditions and folklore. With the absence of hedgehogs in the United States, a similar hibernating animal was chosen. This leads us to yet another evolution in the legend and to present day Punxsutawney.

The First Groundhog Day Celebration

In Punxsutawney, 1886 marked the first time that Groundhog Day appeared in the local newspaper. The following year brought the first official trek to Gobbler’s Knob. Each year since then has seen a steady increase in participation of the celebration from people all over the world.

Today’s Tradition

Today, Groundhog Day remains what it was when the tradition first came to our shores and found its way to Punxsutawney. A day to take everything a little less seriously, and break up the winter monotony… at least for a little while!

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