4 sins of motorcycle driving

THE jeepney used to be the “King of the Road.” That old era has ended and the motorcycle’s reign has begun.

A lot of motorcycle drivers or riders regularly violate traffic rules and safety standards. Unlike a car, a motorcycle with an unstable rider has a higher risk on the road because he is exposed. During a collision, the laws of Physics will definitely work against these drivers. Yet, many remain unmindful of the fact that every day, there is always at least one who is severely injured or dead.

The Highway Patrol Group reported 4,000 motorcycles figured in a crash during the first quarter of 2023 as compared to 8,342 for the full year of 2022. It is easy to conclude that driving behavior has a lot to do with this.

I have personally encountered many near-collisions with motorcyles where the rider (who is at fault) also feels he has the right to curse angrily. These drivers do not know how to respect fellow drivers; all because they think they are the new “Kings of the Road.”

These accidents can be prevented if motorcycle drivers have the will to “repent” and turn away from the deadly sins of driving.

1. Herd mentality. At traffic light stops, I’ve noticed motorcycles amassed in front of other vehicles as if they belong to a herd. This I witnessed at a stop light at Burgos Street corner Roxas Boulevard. When the light turned green, they sped fast making me feel like a swarm of bees was around me. Being a defensive driver, I slowed down and let them all pass to prevent an accident.

The same could be observed in the world of investing. A lot of investors follow the crowd instead of relying on their own analysis. Most often than not, herding results to irrecoverable investment losses.

2. Greed. Overspeeding is a violation motorcycle drivers appear to love to commit as they may be is assuming he is the only one on the road. However, driving beyond the speed limit isn’t recommended on the city’s congested roads.

There’s no lack of news reporting a motorcycle rider who died after hitting a stationary vehicle or colliding with a moving vehicle on high speed.

Investing money also is the same. A lot of people are hyped to put their money in high-yield investment programs (HYIPs) to profit in a short span of time. They also add to their portfolio at a faster rate eyeing to make their money grow faster.

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Sadly, most of these HYIPs turn out to be scams. Many have encouraged me to put money in an investment that promises its growth to as much as 10 times in a month. Knowing full well the principle of money, I simply ignored these. By driving my money at a slower pace, I am sure it will arrive at its destination at my appointed time.

3. Impatience. A lot of motorcycle riders appear to lack good road ethics. Some appear to pop out on either side of my car after swerving to find a space they can squeeze into. Impatient to stay on their lanes, they “split the lane.” In effect, a 2-lane road becomes a 5-lane road. Lane splitting and swerving are violations and can cause road mishaps because riders mistakenly assume that the other drivers are aware of their presence; which is not true every time.

A lot of investors are the same: they lose patience and forget why they invested in the first place. When the market becomes bad, they redeem at a loss; when the market recovers, they get in (with the gain less than the loss), and the cycle repeats.

This will only cause an investor to lose more money as compared to just staying in the market. Stock market charts show that cycle repeats and those who patiently stay long term win.

4. No protection. Some videos have shown riders apprehended because they’re not wearing helmets; some wear the wrong ones. This is a very dangerous habit because as riders are directly exposed to risk, they need some form of protection. A helmet can mean the difference between life and death for a rider.

Similarly, investing without being protected by insurance can result to a massive loss of finances. The government will be the first to collect money from the bereaved via estate tax. If the bereaved family has no means to pay, then it will be goodbye to the estate.

Are you driving your money the way a motorcycle drives his vehicle?

Edmund Lao is a registered financial planner of RFP Philippines. To learn more about personal-financial planning, attend the 102nd RFP program this July 2023. To inquire, e-mail info@rfp.ph or text <name><e-mail> <RFP> at 0917-6248110.