The Hidden Costs of Teenage Drivers

Teenage drivers lose their lives every month to car crashes.

Jun 28, 2014 at 11:03AM

In American culture, getting a driver's license at 16 is considered a rite of passage. But lately, it has grown from an exciting stage of growth to a death sentence for thousands of teens every year. Motor vehicle crashes continue to be the leading cause of death for people between the ages of 16 and 19 -- they have the highest crash rate of any age group.

In addition, the financial implications of those statistics are staggering. Although young people ages 15 to 24 represent only 14% of the population, they account for about 30% of the total costs of motor vehicle injuries. That's not counting auto maintenance, high insurance premiums, possible traffic citations, and other vehicular incidents that can rack up expensive costs over time.

Looking ahead at the summer season, it is prudent to reflect on the fact that more teens will be obtaining their licenses during this time, when an average of 260 teens are killed in car accidents each month. More than ever, it is imperative to take precautionary measures to ensure teens' safety behind the wheel.

Using 16 key metrics, WalletHub has identified the best and worst states for teen drivers. We took a close examination of various elements -- ranging from the average cost of car repairs and the number of teen drivers in each state to impaired-driving laws and teen driver fatalities. By doing so, we aim to equip parents and other concerned adults with facts that will help them safeguard against unforeseeable events when their teens are on the road. After all, parents are the ones to shoulder both the emotional and financial burdens of their children's actions. Check out the methodology section here for more detailed information on how we ranked each state.

Source: WalletHub.

Warren Buffett's worst auto-nightmare (Hint: It's not Tesla)
A major technological shift is happening in the automotive industry. Most people are skeptical about its impact. Warren Buffett isn't one of them. He recently called it a "real threat" to one of his favorite businesses. An executive at Ford called the technology "fantastic." The beauty for investors is that there is an easy way to invest in this megatrend. Click here to access our exclusive report on this stock.

The Motley Fool recommends and owns shares of Ford and Tesla Motors. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

4 in 5 Americans Are Ignoring Buffett's Warning

Don't be one of them.

Jun 12, 2015 at 5:01PM

Admitting fear is difficult.

So you can imagine how shocked I was to find out Warren Buffett recently told a select number of investors about the cutting-edge technology that's keeping him awake at night.

This past May, The Motley Fool sent 8 of its best stock analysts to Omaha, Nebraska to attend the Berkshire Hathaway annual shareholder meeting. CEO Warren Buffett and Vice Chairman Charlie Munger fielded questions for nearly 6 hours.
The catch was: Attendees weren't allowed to record any of it. No audio. No video. 

Our team of analysts wrote down every single word Buffett and Munger uttered. Over 16,000 words. But only two words stood out to me as I read the detailed transcript of the event: "Real threat."

That's how Buffett responded when asked about this emerging market that is already expected to be worth more than $2 trillion in the U.S. alone. Google has already put some of its best engineers behind the technology powering this trend. 

The amazing thing is, while Buffett may be nervous, the rest of us can invest in this new industry BEFORE the old money realizes what hit them.

KPMG advises we're "on the cusp of revolutionary change" coming much "sooner than you think."

Even one legendary MIT professor had to recant his position that the technology was "beyond the capability of computer science." (He recently confessed to The Wall Street Journal that he's now a believer and amazed "how quickly this technology caught on.")

Yet according to one J.D. Power and Associates survey, only 1 in 5 Americans are even interested in this technology, much less ready to invest in it. Needless to say, you haven't missed your window of opportunity. 

Think about how many amazing technologies you've watched soar to new heights while you kick yourself thinking, "I knew about that technology before everyone was talking about it, but I just sat on my hands." 

Don't let that happen again. This time, it should be your family telling you, "I can't believe you knew about and invested in that technology so early on."

That's why I hope you take just a few minutes to access the exclusive research our team of analysts has put together on this industry and the one stock positioned to capitalize on this major shift.

Click here to learn about this incredible technology before Buffett stops being scared and starts buying!

David Hanson owns shares of Berkshire Hathaway and American Express. The Motley Fool recommends and owns shares of Berkshire Hathaway, Google, and Coca-Cola.We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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