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Rethinking the “Right” Time for Social Security

Andrew Clements | Apr 23, 2026

"Same. Waiting til 70 for the highest possible COLA-adjusted benefit. Spouse will probably take hers at 62. If she were to predecease me I’d still plan to wait for 70."

- Michael1

Lonely Island (Correct Edit)

Mark Crothers | Apr 22, 2026

"I have to say that I'm impressed, because if I were writing an article mainly read in Ireland, I wouldn't begin to know how to infuse it with Irish flavor, I mean flavour."

- DAN SMITH

How it all pencils out–or at least, we hope so! (Our Big “Little” Move, Part 3)

DrLefty | Apr 22, 2026

"Yup — stuff wears out and repairs can be pricey. But so far you've gotten 20 years with that a/c. I doubt a new unit will last that long. My son in law replaced his in a new house after 10 years. i think Dana has the right attitude. She and her husband saved for retirement. Now that it’s here, she’s willing to spend on what seems her best alternative."

- Marilyn Lavin

Fixing Social Security once and for all

R Quinn | Apr 15, 2026

"Many in those age groups call SS a scam, see Medicare as socialized medicine. They don’t have a clue and get their info from absurd social media memes. It will indeed be interesting and perhaps disastrous."

- R Quinn

Hidden Surcharge

DAN SMITH | Apr 21, 2026

"I remember this one now. Thanks, John"

- DAN SMITH

A Life You Build

Jeff Peck | Apr 19, 2026

"Jeff, thank you for sharing your story, I found it very inspiring. Chris"

- baldscreen

Staying Rational

ArticleAdam M. Grossman | Apr 18, 2026

IT'S BEEN MORE than six years since Covid first entered our vocabulary. It goes without saying that investors have experienced a lot, and for better or worse, recent market events provide some useful lessons. The first has to do with the nature of the stock market. What drives stock prices? Open a finance textbook, and the answer will be clear: The value of a stock should equal the sum of the company’s future profits. This idea is known as intrinsic value, and it’s the textbook explanation of how stock prices work. But there’s clearly a disconnect, since stock prices bounce around far more than the math suggests they should. How can we square this circle? Over the long term, the data tell us that intrinsic value is a valid idea. Chart the price of any given stock, then overlay the company’s profits, and there will often be a reasonably close relationship. But only if you’re Rip Van Winkle. Over shorter periods of time, anything can happen. Stocks often move far above or far below their intrinsic values in response to the news of the day. Especially during times of economic uncertainty, intrinsic value analysis is typically cast aside and replaced by some combination of emotion, conjecture, speculation and storytelling. That’s what we saw in the early months of 2020. Stores were closed, employees had been sent home and the economy went into recession. And since no one had a crystal ball, that’s when storytellers were able to step in with their extreme predictions, causing the stock market to drop more than 30% in the space of six weeks. The lesson for investors: No one can predict when the next crisis will roll around or what form it will take. But there is one very reasonable way to be able to keep it in perspective: by remembering that, at the end of the day, intrinsic value is what matters, and ultimately that’s what drives stock prices. Basic arithmetic illustrates how this can help us manage through the next crisis. Consider that the price-to-earnings ratio of the U.S. stock market has historically averaged around 16. The average company’s total stock market value, in other words, has been equal to about 16 times its annual profits. Now let’s imagine that the next crisis results in every company in America losing an entire year of earnings. That’s extreme and hasn’t happened since the Depression, but it’s useful as a thought experiment. In that scenario, what would be the impact to those companies’ intrinsic value? In simple terms, it would be just one-sixteenth, or a modest 6%. What if a crisis were so severe that a company lost two years of earnings? Using this simple model, the impact would be about 12%. This is meaningful, I believe, because crises typically result in stock price declines that are far more severe than just 6% or 12%. In 2000 and in 2008, the market dropped more than 50%. While every crisis is different, I think it’s useful to keep these numbers in mind whenever the next geopolitical event causes stocks to drop. When that occurs, storytellers will inevitably take over, and the news will be downbeat. But if stocks drop to an extreme degree, as they have in the past, we can probably view it as an overreaction. That won’t help anyone’s portfolio recover any faster, but it should help us tune out the worst of the forecasters and maintain our equanimity. How else can you maintain an even keel during a market crisis? It’s important to understand the impact of recency bias. This bias is the tendency to extrapolate from current conditions, to assume that the future will look like the present, and to downplay the possibility that things might change. That tendency is what contributed to the cycle of negative news during the depths of 2020, and this is why I think it’s so important for investors to be aware of market history. Again, extensive analysis isn’t required. We need only look back across some of the crises the country has weathered, from the Civil War to the Depression to World War II. In each case, the economy recovered and went on to become larger and stronger than before. The lesson for investors: In the depths of a crisis, it’s very difficult to know when or how it will end. But a sense of history can help carry us through. Those are ways to manage through a crisis. Covid also provided a lesson on how to prepare—specifically, how to prepare our portfolios—for a future downturn. In 2022, investors were caught flat-footed when popular total-bond market funds delivered surprising losses. These funds are one pillar of the well-known three-fund portfolio and have traditionally been viewed as the default choice for a set-it-and-forget-it bond allocation. But in 2022, when the Federal Reserve hiked interest rates, these funds dropped a surprising 13%. That was during the same year that the U.S. stock market dropped nearly 20%, creating a very difficult situation for those in retirement and needing to withdraw from their portfolios. The lesson for investors: Total-bond market funds may be well diversified, but they carry risk along another very important dimension known as duration. This is a bond metric that measures, in simple terms, how long it will take for bondholders to be repaid, and it’s a key determinant of risk. The longer the duration, the greater the risk of loss when rates rise. While total-bond market funds have holdings across a broad range of durations, they average out to nearly six years. That’s why they lost so much value in 2022. What’s the alternative? Short-term bond funds tend to have a duration in the neighborhood of just two years. As a result, in 2022, short-term government bond funds like Vanguard’s Short-Term Treasury ETF (ticker: VGSH) lost a far more manageable 4% of their value. To be sure, every crisis is different, and it’s easy to rationalize about the past once it’s in the past. But these lessons, I think, can help us better prepare both our emotions and our portfolios for whatever comes next. Adam M. Grossman is the founder of Mayport, a fixed-fee wealth management firm. Sign up for Adam's Daily Ideas email, follow him on X @AdamMGrossman and check out his earlier articles.

Tax Free Income Trap, Dealing With MAGI

DAN SMITH | Apr 21, 2026

"Tax revenue"

- R Quinn

Navigating a Turbulent Career

ArticleRichard Connor | Apr 18, 2026

A RECENT article by Adam Grossman relayed an interesting story of the 2015 merger of Kraft and Heinz. One of the aspects that made this merger unique was the involvement of Warren Buffet. Adam’s story is a cautionary tale for investors – research shows that, more often than not, the hoped-for corporate synergies and growth are elusive. The story provides more evidence for the benefits of indexing to investors. There is, however, another side to this story that is very important to an individual’s personal financial life. In addition to being investors, most of us are, or were, employees of a corporation. What if you are an employee of a company that is acquiring another company, being acquired by another company, or part of a merger? How do you navigate the challenges of this significant career event? In late November 1985, I interviewed with RCA’s Astro Space division in East Windsor, NJ. Several weeks later I interviewed with GE Aerospace in King of Prussia, PA. In between those 2 interviews it was announced that GE was acquiring RCA. I received an offer for a position in the thermal engineering group of both companies. The GE offer was for $32,000, $4,000 more than the RCA offer. The GE plant was about 8 miles from our home; the RCA plant was 62 miles from our home. I accepted the GE offer. When I called the RCA manager to tell him my decision, he was professional and understanding. He remarked that “who knows, we may end up working together and you got a better deal out of it”. Four months later that RCA manager became the senior manager of the merged thermal engineering organization – my new boss’s boss. Seven years later my division was sold to Martin Marietta, whose space operations were based in Denver, CO. Two years later Martin Marietta merged with Lockheed, in Sunnyvale, CA, to form Lockheed Martin. Later that year it was announced that the company was closing its 2 east coast plants and moving the work to Sunnyvale and Denver. Over the 31 years starting in 1986, I was part of numerous acquisitions, mergers, two plant shut-downs, and being sold to a private equity company. Somehow, I managed to stay employed, and grow my career. I wasn’t special – hundreds of colleagues trod the same path. When I look back I can identify some of the attributes that helped me navigate a turbulent career. Build your Reputation: Be someone that people want to hire. If you move up, be someone that people want to work for. My first senior manager position came about because the hiring team remembered me from 4 years previous Maintain Flexibility: Are you willing to travel or relocate? Would you take a lateral position, or even a step down, if it meant keeping a job? During my career I traveled extensively, commuted 62 miles for four years, and took new positions that challenged me and my family. Focus on your Skills: What are the skills and behaviors that are valued by your company, and differentiate successful employees? These include technical, leadership, managerial, and interpersonal skills. My first GE manager provided a sound technical base, but also taught me just as much about work ethic, and professionalism. Focus on the Culture: Combing organizations means combining cultures, just as much as products or processes. This may require you to be open to a different way of doing things. It requires a willingness to learn and grow. It will also likely require some diplomacy skills. Change is hard for employees, and nobody enjoys being told their processes or products are inferior. When we merged with RCA, we found there was a significant difference in the way that managers and senior technical leaders challenged their employees in public forums, in front of customers. GE preferred to work out technical differences and approaches in-house, and present a united front to customers. This took some time to resolve into a shared approach. Focus on the People: When my first GE manager retired, we held a group luncheon. He was universally liked and respected. Someone described him as the best “BTU chaser” he’d ever seen, which was high praise. He gave a short speech at his retirement, where he discussed the exciting space programs he had supported. He ended that the thing that made his career special wasn’t the projects and technology, it was the people. I was also fortunate to work on some exciting, ground-breaking projects. It wasn’t always easy, and the path certainly wasn’t straight. Looking back, it is the people I think of most, and I miss the most. Richard Connor is a semi-retired aerospace engineer with a keen interest in finance. He enjoys a wide variety of other interests, including chasing grandkids, space, sports, travel, winemaking and reading. Follow Rick on Twitter @RConnor609 and check out his earlier articles.

The IRA Decision That Affects Your Kids

David Lancaster | Apr 17, 2026

"My understanding is yes if the state specific rules are followed and the disclaimer is filed timely. Dr. Dahle's post in the above linked post lists six key general aspects for a disclaimer to be valid. I think the need to file a disclaimer could often be eliminated with appropriate planning and action during life."

- William Perry

Financial Tension

William Housley | Apr 17, 2026

"Curry is smart… he will figure out how to invest."

- William Housley

Driving a Bargain

ArticleLogan Murray | May 20, 2022

"NEVER BORROW MONEY to buy a depreciating asset." This personal finance tip is often used to dissuade folks from taking out car loans. But does a car really leave folks poorer?

When we value an asset, it’s typically thought of as its dollar value on a balance sheet. The monetary value of my car might indeed decline, and quickly at that, but it has far more usefulness than my personal balance sheet shows. When I consider my car’s true value, I think of how much it improves my life.

I made a major change in 2018, moving from Philadelphia to Scottsdale, Arizona. I landed with two suitcases, a backpack and my cat. I had a job starting in three weeks in the heart of Old Town Scottsdale—a pricey area.

In Philadelphia, I’d never needed a car. There’s great public transportation and I could get almost anywhere by walking or taking the train. If you’ve ever been to Phoenix and its surrounding suburbs, it’s a different story. It sprawls in every direction and lacks decent public transportation.

As a young professional 2,000 miles from home, I needed to travel this big expanse. I also wanted to do some exploring in the West, so I took out a loan to buy a new car.

I don’t imagine I’ll ever recoup the money I paid for the vehicle. In fact, I suspect that my car will always be asking me for more money—for maintenance and repairs—even after I’ve paid off the loan. That’s fine. My expectations are set on this because I see so much additional value in owning a car.

Monetary benefits. Old Town Scottsdale’s rents are at least 20% higher than some surrounding areas. I can live less expensively nearby as long as I can handle a 10- to 15-minute commute.

My car also provides me access to a larger pool of jobs. On top of that, I have reliable transportation, which makes me a more dependable employee. Finally, in this gig economy, a car opens up opportunities for self-employment, a side gig or temporary income during a gap in employment. This could come from signing on with services like Uber, DoorDash and Instacart.

Emotional benefits. My car is truly liberating. It can buy me time by making travel more convenient. It allows me to live where I want and gain happiness through new experiences outside of my neighborhood. The ability to go anywhere at any time is hugely appealing.

If it takes a loan to realize these benefits, I’m willing to bear that cost. I think most Americans would agree with me. Even when you’ve decided that a car is worth buying, however, another financial argument breaks out. It’s about whether it’s better to buy a new car or a used one. [xyz-ihs snippet="Mobile-Subscribe"]

This is where I find the biggest ridicule from finance influencers. They advise never to buy a new car, and especially never to buy a new car with a loan. That’s because the moment you drive a new car off the dealer lot, it takes a big hit, thanks to depreciation.

Perhaps, in an ideal world, we’d all buy a good used car with cash. But that option isn’t available to many people. Moreover, even if you can afford to pay cash, there can be a good reason to buck the conventional wisdom. The benefit I’ve received from buying a new car can be summarized in one word: reliability.

A new car brings me peace of mind, knowing it’s unlikely I’ll be waiting on the side of the road for AAA. I don’t have to leave an extra hour early for work in case my car doesn’t get me there. I also knew I’d be traveling along dirt roads and across state lines to do some exploring, so reliability was nonnegotiable with my car purchase.

A new car works out well for me on another level. I’m not a car guy. I lack the understanding of how to take care of one. The new car warranty typically covers the scheduled service for the first few years. I’m happy to pay more to get that responsibility off my plate.

My goal has never been to turn around and sell my car for a decent sum when I’m done using it. Instead, I want to pull out all the value I can along the way. I’ll increase both my life experiences and my financial wealth through its use—and not by selling it at the end. Logan Murray is a solo financial advisor. His company Pocket Project offers subscription-based financial planning services to young professionals. For more financial insights, read Logan’s blog, connect with him on LinkedIn and check out his earlier articles. [xyz-ihs snippet="Donate"]

Rethinking the “Right” Time for Social Security

Andrew Clements | Apr 23, 2026

"Same. Waiting til 70 for the highest possible COLA-adjusted benefit. Spouse will probably take hers at 62. If she were to predecease me I’d still plan to wait for 70."

- Michael1

Lonely Island (Correct Edit)

Mark Crothers | Apr 22, 2026

"I have to say that I'm impressed, because if I were writing an article mainly read in Ireland, I wouldn't begin to know how to infuse it with Irish flavor, I mean flavour."

- DAN SMITH

How it all pencils out–or at least, we hope so! (Our Big “Little” Move, Part 3)

DrLefty | Apr 22, 2026

- Marilyn Lavin

Fixing Social Security once and for all

R Quinn | Apr 15, 2026

- R Quinn

Hidden Surcharge

DAN SMITH | Apr 21, 2026

"I remember this one now. Thanks, John"

- DAN SMITH

A Life You Build

Jeff Peck | Apr 19, 2026

"Jeff, thank you for sharing your story, I found it very inspiring. Chris"

- baldscreen

Staying Rational

ArticleAdam M. Grossman | Apr 18, 2026

Tax Free Income Trap, Dealing With MAGI

DAN SMITH | Apr 21, 2026

"Tax revenue"

- R Quinn

Navigating a Turbulent Career

ArticleRichard Connor | Apr 18, 2026

Manifesto

Apr 24, 2026

NO. 77: TO BUY ourselves happiness, often the best strategy is to not buy anything at all. That can leave us with a plump bank account and the sense of financial security it offers.

humans

Apr 24, 2026

NO. 51: WE FAVOR the familiar, such as stocks of local companies and makers of goods we buy. This “home bias” can be risky. Folks often bet big on their employer’s shares, so both their paycheck and portfolio hinge on the company’s prosperity. Many U.S. investors also shun foreign stocks, even though there’s no guarantee U.S. shares will outperform long-term.

Truths

Apr 24, 2026

NO. 87: A LONG LIFE is a big risk. On average, 65-year-olds live until their mid-80s. But that’s the average—and half of all 65-year-olds will live longer. How can you cope with this longevity risk, especially given the threat from inflation? Your financial arsenal might include stocks, delayed Social Security benefits, and immediate and deferred income annuities.

think

Apr 23, 2026

RISK POOLING. When we purchase health, life, auto and other insurance, we contribute to a pool of money overseen by an insurance company. Those who crash their car or suffer ill-health collect from the pool. Those who get through the year unscathed pay their premiums and get nothing in return—which is what you want, because it means life is good.

Money Guide

Manifesto

Apr 24, 2026

NO. 77: TO BUY ourselves happiness, often the best strategy is to not buy anything at all. That can leave us with a plump bank account and the sense of financial security it offers.

Spotlight: Life Events

On Being 80

Richard Quinn | Jul 24, 2024

WHEN I REACHED AGE 70, I felt a sense of accomplishment, a bit of weird pride. At 75, I had a similar feeling. But when I turned 80 last year, things felt different. It was like I was an overachiever. Suddenly, the future wasn’t as long.

For many years, I’d searched for a high school friend who’d been my navigator at sports car rallies, but with no luck. Then, recently, I stumbled across his obituary.

Lesson Four From Taking Care of a 102 yo in Her Last Year of Life- The Final Hours of Life Can be Beautiful

David Lancaster | Apr 12, 2025

Unfortunately I have had a lot of experience in this realm. In an 18 month period during 2017-18. I first lost my twin brother at 59 years old; then almost 1 year later my father, and six months after that my mother each on one side or another of 85. Unfortunately all of them suffered from some type of dementia. As a result at the time of their passing we were unable to communicate with them.

Three Significant Moments

Wayne Proctor | Jul 20, 2024

I am a Baptist pastor. Significant moment #1. One day I was in a leadership meeting and a fellow pastor commented that he had just met with his financial advisor and was told he would have to work to age 81 to retire. I didn’t laugh. I was his age and had just lost 40% of my retirement from the economic downturn that began in October, 2007. After that meeting I did some serious soul searching and decided I would become a student of understanding “money”

How Will You Know When It’s Time?

Rick Connor | Apr 13, 2025

A number of events over the past few months have me thinking about aging, mortality, legacy, frailty, and – of course – financial planning. These events included attending funerals, preparing tax returns (ours and dozens of others), visiting old friends and distant family, minor traffic accidents, winter doldrums, and the recent discussions on HumbleDollar on the unique estate planning needs of childless retirees. Recent market volatility may have played a small role.
My wife and I have a lot of real-world experience caring for aging and infirm parents,

Financial Trauma

Mark Crothers | Feb 14, 2026

SOMETIMES WORLD events beyond your control create a hard reset point in your financial life. A before and after. For me, that point was the 2007 Great Financial Crisis (GFC). The psychological scars still reverberate into my current life.

Looking back, I was aware of something rumbling about in the financial landscape but didn’t take much notice due to being deeply involved in running my business. Little did I realize the impact heading my way.

Hitting Repeat

Jonathan Clements | Apr 4, 2025

Earlier this week, I asked readers, “If you could go anywhere in the world on your next trip, where would it be? If you could savor any experience, what would it be?”
I didn’t offer my own response—because I didn’t have one. At this point, I don’t have a strong urge to go to some exotic locale or try some new experience. On the other hand, there are places and experiences from my past that call to me.

Why Money is Taking Up More Space in My Mind Lately

Dennis Friedman | Aug 18, 2025

I always loved newspapers. I even gave reporting a try back in 11th grade on my high school paper. It didn’t last long—I struggled with deadlines and once botched the front page with a layout mistake called a “tombstone,” where two headlines sit side by side and confuse readers. Still, that didn’t stop me from becoming a devoted reader over the years. Recently, I came across an article from The USA Today that hit close to home for me. It reveals that many Americans are now spending nearly four hours a day thinking about money. Some of their concerns are bills, inflation, and housing costs. Although I have different financial concerns, I find myself thinking more about money, too. What kind of money issues are on my mind? Here are three that keep coming up: 1. Should we be doing more to help my stepson? I’ve mostly tried to stay in my lane when it comes to finances and my stepson. My wife raised him, and she’s done an amazing job. I’ve never raised a kid myself, so I figure she knows best. He’s got a good job, he’s responsible, hardworking, and completely self-sufficient. He’s never asked us for money, but sometimes I wonder if we could do a little more to make things easier for him. The only time I really spoke up was around Christmas. We gave the neighbor's sons the same amount of money we gave him, and that just didn’t feel right to me. We ended up giving him more, which I think was the right call. I think my wife’s take is that he’s doing fine, so there’s no need to mess with that. And honestly, she’s probably right. He’s independent—just like she is—and even if we offered help, he might not take it. But…

Family Inc.

Dennis Friedman | Nov 14, 2018

WHAT’S THE MOST important financial decision you’ll make in your life? Is it when to take Social Security? Choosing the right asset allocation for your investment portfolio? How about the decision to rent or buy a place to live? I believe that, for many people, it’s who they choose to be their significant other. Together, you’ll decide how you spend your money and how much to set aside for retirement. There will be endless decisions dealing with money—and some will have a huge impact on your financial wellbeing. Your significant other will likely prove to be the most important business partner in your life. You might ask yourself: What should I look for in a significant other? Is it the person's character, such as personality and temperament? Is it intellect or earning power? How about the individual's body language? As George Harrison wrote, "Something in the way she moves attracts me like no other lover." It could be that the most important quality is his or her credit score. According to a 2015 study, there’s a correlation between credit scores and the probability of a relationship’s success. The study found that the higher the credit scores at the beginning of a relationship, the lower the chance that a couple would split up. In addition, the closer your credit score is to your partner’s, the greater the likelihood of staying together. Financial incompatibility is one of the most common reasons for divorce. When one person is a spender and the other is a saver, it’s difficult to reach an agreement on financial goals. If a divorce occurs, this could jeopardize the financial wellbeing of both individuals. Going through a divorce for some people is like starting over financially, because you’re likely to lose 50% of your net worth. What are some major…

Let’s Take a Ride

Dennis Friedman | Feb 7, 2019

MY MOTHER IS 95 years old and still has her driver’s license. She drives her car on rare occasions. You might ask, “Why are you letting your mother drive at this age?” Answer: She passed her written driving test at age 93 and is actually a safe driver. She also doesn't text or talk on her cell phone while driving, unlike so many other people. My mother is an independent woman—and enigmatic, too. She’s self-assured about driving and yet fearful of seasoning the family dinner, worrying that she’ll add too much salt or pepper. When it comes to spending money, my mother exhibits this same enigmatic behavior. She owns a 2000 Chevrolet Impala. It needed a lot of work and the estimated cost to fix it was $1,500. Without hesitation, my mother authorized the repairs. She isn’t, however, always so agreeable when it comes to spending money. When ordering dinner, she refuses to pay an extra dollar to substitute a vegetable for the French fries. She’d rather suffer with her old pair of sunglasses than pay for a new pair. It's not like she needs this car in her life. She rarely drives anymore. When she needs to go somewhere, I usually drive her. If I'm not available, my sister or a neighbor can take her. The car is driven about 1,000 miles a year and mostly by me. I tried to talk my mother into selling the car. I explained that eliminating the cost of the insurance and maintenance alone would save her a substantial sum. My mother isn’t wealthy and she could use the money. But there’s something about the car that keeps her plowing money into it. After listening to my mother, I realize it isn’t just about the car. It's what the car symbolizes. It represents the…

Little Jack

Dennis Friedman | Feb 18, 2019

I SUBSCRIBE TO a number of financial magazines, as well as a daily newspaper. Lately, they've been piling up in my garage unread. I scan the front cover of the magazines and the headlines of the newspaper, but I'm not that interested. I don't care about "Where to Invest Your Money in 2019" or "The Best Stocks for the Long Run." I guess it's because I'm no longer in charge of my investment portfolio. I have a financial advisor, Carl, who has been overseeing my investments for the past six months. And I have been satisfied with the way things have been going. Just between you and me, Carl—who is human—hasn't been selecting my investments. Instead, it's been a computer. I call the computer Little Jack, after the late Jack Bogle, because it picks nothing but index funds. Right now, Little Jack has me in a mix of six index funds that track the total U.S. stock market, total international stock market, total international bond market and three different segments of the U.S bond market—short, intermediate and long-term securities. Overall, my portfolio is 40% in stocks and 60% in bonds. I know for a fact that Little Jack hasn't read those periodicals that are piling up in my garage. If he isn’t bothering, why should I? What I like about Little Jack is that he isn’t human. There is no emotion or prejudice in picking my investments. You can't say the same thing about those magazines and newspapers in my garage, all of which are written by humans, who are quoting other humans, who are supposedly experts. I bet that, over the long run, Little Jack will beat the performance of the picks from those magazines and newspapers. I guess that's another reason those periodicals are piling up in my garage unread.…

Be Prepared

Dennis Friedman | Mar 18, 2020

WHEN I WENT TO THE grocery store last week, it was packed with customers stocking up on essentials. Carts were filled with items that people couldn’t possibly consume in any reasonable period of time. It’s a scene that’s been repeated across the country. A friend told me: “When people panic, they want things right away. When people see other people panic, they panic, too.” Like the coronavirus, fear is highly contagious. I’m not panicking, and yet there are reasons I should feel unease: Like many other Americans, I have money in the stock market. I don’t have a monthly pension, so I’m dependent primarily on my investment portfolio to fund my retirement. I’m trying to sell my condo. My real estate agent told me we should lower the asking price by $20,000. The feedback I’m getting from my agent is that the coronavirus and the stock market decline are instilling fear in prospective buyers. I’m about to remodel my new home. Every room in the house will be affected. This will probably be one of the biggest expenses during my retirement, and yet the project is starting just as global uncertainty is skyrocketing. Why aren’t I more fearful? To be sure, there isn’t yet a vaccine to stop the coronavirus from spreading. But there are things we can control in our financial lives that can ease our sense of fear. Indeed, there are three reasons I’m not rattled by what’s happening around me. First, I’ve saved for a lifetime. Without knowing that today’s pandemic would happen, I’ve been planning for this crisis since I graduated college. As a young adult, I got a feel for what it’s like to live paycheck to paycheck—and I didn’t like it. I made up mind that I wasn’t going to save for my dream…

Journey’s End

Dennis Friedman | Dec 23, 2019

A FEW MONTHS AGO, I received an early morning phone call from a nurse, notifying me that my mother had passed away. Even though she was age 96 and recovering from a mild heart attack, it was still a shock. Up to the time of her death, she was mentally alert and determined to show everyone that she belonged at home, not at a strange nursing and rehabilitation facility. She gave it her best, but she couldn’t overcome her weak heart. After spending seven years as my mother’s primary caregiver, I had become very close to her. When she passed away, I was overwhelmed by this strong sense of loneliness. Having family and friends to lean on provided me with much needed support at this difficult time—yet another reminder of how relationships are so valuable in our life’s journey. Ever since I retired, I’ve been my parents’ caregiver. I now have this big hole in my life I need to fill. I feel like I’m retiring again. Indeed, taking care of a loved one can, at times, seem like a job. It can be stressful, physically demanding and require long hours. Still, I wouldn’t hesitate to do it again. I’ll be moving next year and that will keep me busy. Rachel and I will be moving into my parents’ house. This move is something they would have wanted. I have some reservations about the move, because there are financial risks involved. The house needs a lot of work. It could be a money pit, where we blow through our budget if we aren’t careful. It’s the type of project you should undertake when you’re employed and have a steady paycheck—not when you’re retired and living on a fixed income. The house has an upstairs, which is not ideal for people our…

Rethinking the “Right” Time for Social Security

Lonely Island (Correct Edit)

How it all pencils out–or at least, we hope so! (Our Big “Little” Move, Part 3)

Fixing Social Security once and for all

Hidden Surcharge

A Life You Build

Staying Rational

Tax Free Income Trap, Dealing With MAGI

Navigating a Turbulent Career

The IRA Decision That Affects Your Kids

Financial Tension

Driving a Bargain

Rethinking the “Right” Time for Social Security

Lonely Island (Correct Edit)

How it all pencils out–or at least, we hope so! (Our Big “Little” Move, Part 3)

Fixing Social Security once and for all

Hidden Surcharge

A Life You Build

Staying Rational

Tax Free Income Trap, Dealing With MAGI

Navigating a Turbulent Career

Free Newsletter

Get Educated

Manifesto

humans

Truths

think

Money Guide

Manifesto

Spotlight: Life Events

On Being 80

Lesson Four From Taking Care of a 102 yo in Her Last Year of Life- The Final Hours of Life Can be Beautiful

Three Significant Moments

How Will You Know When It’s Time?

Financial Trauma

Hitting Repeat

Spotlight: Friedman

Why Money is Taking Up More Space in My Mind Lately

Family Inc.

Let’s Take a Ride

Little Jack

Be Prepared

Journey’s End