My Journey to Millions

The Definition of Liberal, Conservtative, & Libertarian

I am often asked, how do “I” know where I land on the political spectrum? What do the terms liberal and conservative, actually mean? Usually I point the person to this really really short political quiz.

It is all over 10 questions, and will probably take you at most 1 minute because the questions asked, at least in most people, cause a sort of gut reaction. Also, it doesn’t ask for your e-mail address which is surprisingly refreshing in today’s internet. According to the website, the quiz has been taken more than 14 million times, so I am not claiming that I found a diamond in the rough.

As most Quizes do – it provides the answer you were looking for, but it also provides the answers you could have received and that is where the definitions are.

What are the Definitions of a Liberal, Conservative, Libertarian and Statist (Communist)?

- Liberals usually embrace freedom of choice in personal matters, but tend to support significant government control of the economy. They generally support a government-funded “safety net” to help the disadvantaged, and advocate strict regulation of business. Liberals tend to favor environmental regulations, defend civil liberties and free expression, support government action to promote equality, and tolerate diverse lifestyles.
- Centrists espouse a “middle ground” regarding government control of the economy and personal behavior. Depending on the issue, they sometimes favor government intervention and sometimes support individual freedom of choice. Centrists pride themselves on keeping an open mind, tend to oppose “political extremes,” and emphasize what they describe as “practical” solutions to problems.
- Conservatives tend to favor economic freedom, but frequently support laws to restrict personal behavior that violates “traditional values.” They oppose excessive government control of business, while endorsing government action to defend morality and the traditional family structure. Conservatives usually support a strong military, oppose bureaucracy and high taxes, favor a free-market economy, and endorse strong law enforcement.
- Statists want government to have a great deal of power over the economy and individual behavior. They frequently doubt whether economic liberty and individual freedom are practical options in today’s world. Statists tend to distrust the free market, support high taxes and centralized planning of the economy, oppose diverse lifestyles, and question the importance of civil liberties.
- LIBERTARIANS support maximum liberty in both personal and economic matters. They advocate a much smaller government; one that is limited to protecting individuals from coercion and violence. Libertarians tend to embrace individual responsibility, oppose government bureaucracy and taxes, promote private charity, tolerate diverse lifestyles, support the free market, and defend civil liberties.

These definitions are black and white, but your answers and feelings don’t have to be. Just a side note, I have never heard of the term Statist before but it seems like a Communist to me.

So What Does Evan’s Quiz Look Like?

Take the Quiz and come back here I want to know how you did!

Why the Type of Life Insurance you Buy Doesn't Matter

This is a guest post by Aaron, the president of Clarifinancial – the only way to get custom life insurance quotes from multiple agents anonymously. Because they let real life insurance agents compete for you without any unwanted phone calls or emails from agents, choosing from the competition is a clear choice. If you are looking for quality life insurance quotes without the hassle, give Clarifinancial a try today.

For a lot of people who are shopping for life insurance, one of the first questions they ask themselves is, “what type of life insurance should I buy?” This question usually ends with some form of “whole life” or “term life,” as though those are the only two options. That’s the wrong way to think about life insurance.

I’m pretty sure I understand what people mean by the question. But I also understand why it’s based on misunderstandings of how life insurance really works. And I understand how the wrong question opens you up to the qualms of well-trained life insurance agents.

Here’s a tip: Think about the type of life insurance you buy last.

When the type of Life Insurance does matter and When it doesn’t

Obviously, if you plan on using life insurance to supplement your retirement, then you need some form of permanent insurance. Many call this “whole life.” But for most people, who see life insurance as a layer of protection for their families – to help replace part of their income, pay down debts, and support their families – it doesn’t matter.

That’s right, it doesn’t matter what type of life insurance you buy. The reason it doesn’t matter is because all you care about is the death benefit (the part that pays when you die). Any and all types of life insurance have a death benefit. The rest of it doesn’t matter.

Life insurance goals

Of course you want it from a life insurance company you can rely on, and of course you care about the price and how long the policy lasts. So the secret to buying the life insurance policy you need is to define those things in advance. Ask yourself these questions:

How much life insurance do you need?
How long does that need last?
How important is having a guaranteed policy?
How important is company quality?
How important is price?

After you have these questions answered and outlined, go shopping for life insurance. Your answers might eliminate some types of insurance, but you might be surprised how many options are still on the table. That’s why focusing on your goals and priorities pays off. Stay focused on your goal and the jargon-filled slick presentation of insurance agents won’t impress you much.

Do you need that extra feature that gives you your premiums back if you hang on to the policy for the entire time? Do you want to be able to participate indirectly in market gains without having to worry about losses? All that sounds great, but if it’s not on your shopping list, it’s not all that important to you.

Shopping for life insurance and temptation

It’s like going to the grocery store when you’re hungry. Anything looks good, and the high-calorie stuff looks even better. If you make a shopping list instead, you get everything you need without succumbing to temptation.

If you had popsicles for the kids on your list and they have fancy ice cream on a super-sale, it’s okay to pick that up instead. But stay focused and don’t get distracted.

Think about the type of life insurance to buy last and the rest of your goals will take priority. By forcing insurance agents to compete for you based on what you want instead of letting them sell what they want, you will be able to make a better and wiser choice. If you can find that competition without a bunch of annoying phone calls and emails from agents… well it sounds like a special place.