The Future is Electric.
There is so much talk today about electric vehicles' fuel efficiency and economic advantages. While many are considering buying their first electric cars or trucks, others are looking at the vast and varied world of electric bicycles.
Electric bikes are fun, easy to use, and ideal for commutes or leisure. If you know how to ride a regular bicycle, riding an ebike involves only a few extra steps. Other advantages include the motorized boost you get going up hills and the portability and storability designed into many models, allowing you to take them aboard buses and trains. Many manufacturers also offer three-wheeled ebikes, also called electric trikes.1,2
Electric trikes have their own set of features to recommend them, including a few that may not be immediately obvious. First up is balance. For various reasons, some people may have difficulty maintaining their equilibrium, which could have previously kept them from using two-wheeled modes of transport, like bicycles and motorcycles. Three-wheeled etrikes solve this factor for many riders through firm three-point contact with the ground.
Next is Storage.
While ebikes offer speed and distance, they aren't great for running certain kinds of errands, like picking up groceries or going to the laundromat. Many etrike models offer baskets in the front, back, or both, allowing you to pick up your shopping or strap on a laundry bag or two. If you're an outdoor enthusiast, imagine the possibilities of riding an etrike to a nearby camping site or fishing spot.
Yet another less obvious advantage comes from the etrike's versatility for all body types. A shorter person, for example, may have more options for having an etrike customized to match their height. Another difference between etrikes and ebikes is that etrikes require less physical labor. So, if you contend with pain issues, you may find the etrike to be a far less strenuous option.
Ultimately, the differences between ebikes and etrikes come down to personal preference and how you envision using them. One thing that applies to both is that neither requires gasoline or the maintenance costs associated with any car. Auto insurance isn't needed for an ebike, whereas it is for cars and motorcycles. And you can't beat the free parking that comes with an ebike or etrike, whether that means locking it to a rack or folding it up and bringing it inside with you.
Ebikes and etrikes represent a versatile way to get around, and newer models always boast longer distance ranges. So, be safe, budget for a helmet, and happy cycling!3,4
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Ivy Pierson, CEP, MBA Investment Advisor Representative Securities and advisory services offered through Cetera Advisors LLC (doing insurance business in CA as CFGA Insurance Agency LLC), member FINRA/SIPC, a broker/dealer and a Registered Investment Adviser. Cetera is under separate ownership from any other named entity. Pierson Wealth Management is located at 28368 Constellation Rd., Ste. 396, Santa Clarita, CA 91355. CA Insurance Lic#0C92500. All investing involves risk, including the possible loss of principal. There is no assurance that any investment strategy will be successful