Smart Money

DEAR BRUCE: I was recently in a car accident and damaged my car pretty good. The insurance company didn't total it, but the damages are over $17,000 and it's going to take a month for the dealership to repair it. I received the ticket from the officer who came to the scene, so it was my fault.

I then rented a car until my car was done in the shop. On my fifth day with the rental, I got into another accident that was my fault too! How bad is this going to affect my car insurance, and what can I do to relieve the increase in premiums that I assume is coming my way? -- Reader

DEAR READER: You have a problem! It may just be bad luck, but the ticket (points on your license), a $17,000 accident, and another accident on top of it is unfortunate.

There is little you can do about that, but what you can do is examine your driving habits. This is going to cost you for a long period of time. Two accidents are going to be looked at very carefully by any insurance company, and you can understand why.

DEAR BRUCE: What is your opinion of this new trend Bitcoin? I keep hearing that the value keeps rising. Should I invest $20,000 in it? -- Tom

DEAR TOM: I have no opinion on Bitcoin, except that I want no part of it. Why? Because I don't understand it, and I have no interest in following it or learning more about it.

It's interesting that you noticed the value is going through the roof, but it also has taken huge falls. People are talking about Bitcoin's value continuing to rise. It's possible you'll say in the future that I talked you out of it. But on the other side, Bitcoin and its many competitors could take it right in the teeth.

Unless you're a crapshooter at the very least, and this is money you can afford to lose, I would stay away from it. If you do decide to invest, then do the research that's necessary to understand it. The guys who are perpetuating these huge variables are very wealthy. Bear that in mind. They can afford to gamble, but you may not.

(Send questions to Questions of general interest will be answered in future columns. Owing to the volume of mail, personal replies cannot be provided.)

(The Bruce Williams Radio Show can now be heard 24/7 via iTunes and at It is also available at

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