Many Words Later
Richard Connor | May 21, 2024
THIS IS MY 150TH article for HumbleDollar. My first appeared on Aug. 12, 2019. I’m not sure when I became aware of the site, but it’s become an important part of my life. I’ve truly enjoyed the writing, along with reading the work of others and interacting with the editor, other contributors and readers.
For my 150th, I thought about looking back over the past five years and compiling a list of 150 observations. But that proved too challenging for my ancient brain. Instead, here are my top 15 thoughts, observations and random musings, offered in no particular order.
- I’m still capable of learning. Indeed, I’ve learned so much more from commenters and other writers than I’ve manage to teach. Being exposed to other people’s thoughts and ideas is a daily joy.
- The name HumbleDollar really fits. The more I learn, the more I realize how little I know and how many smart people there are.
- Civilized discussion between good people is a wonderful part of life. The comments I’ve received have been kind, thoughtful and enlightening. We should all strive to do more of it.
- Many retirees love to travel. Many retirees enjoy travel. Many retirees have almost no interest in travel. I consider myself somewhere between love and enjoy. I have friends in the “not interested” category. They aren’t wrong and I’m not right. We each get to choose how we lead our lives, and we can change if we choose.
- Medicare is a pretty good deal, but it’s not free. Medicare’s income-related monthly adjustment amount, or IRMAA, can be a big issue, especially if your final years of employment included some high-income years—but you may also be able to get those premium surcharges waived.
- Inflation isn’t dead. When I started writing articles in 2019, inflation wasn’t even a thought. By contrast, inflation was very high as I hit adulthood in the late 1970s and early 1980s. I vividly recall friends getting 14% mortgages on their first homes. Our first mortgage was 8%, but only after paying three points upfront, or 3% of the loan amount. We were happy to get that mortgage. Today’s inflation is certainly concerning, but we’ve seen worse.
- The financial markets are pretty resilient. Despite spending way more on real estate than planned, our retirement accounts are bigger than five years ago. Our portfolio is pretty simple, mainly low-cost stock index funds. I’ve never been good at picking individual stocks, and stopped trying years ago.
- Financial planning is important, but we should plan for the unplanned. In this century, we’ve experienced a global financial crisis and a global pandemic. Both surprised me. But we worked and saved during these bad times, and kept investing when markets were down.
- I think having a margin of safety is important. Carrying a cash reserve made it easier to handle the market gyrations of 2020 and 2022. Meanwhile, automating withdrawals makes it feel like we’re still getting a paycheck.
- To me, investment selection and management is the least interesting part of personal financial planning. Maybe it’s because I’m lousy at picking stocks. Managing our cash flow, tax planning, estate planning and buying the right insurance are all just as important to our financial lives.
- It’s not good to only associate with those in a similar financial position. Despite the enormous wealth in America, there are many people who still struggle in retirement. My experience as a volunteer tax preparer has exposed me to both retirees of limited means and the working poor. There are lots of opinions about why folks struggle financially and what needs to be done. But when you sit across the table from someone in tough financial straits, judgmental thoughts don’t help. You either help them or you don’t participate.
- Social Security is a crucial source of income for many retirees. The many comments that follow a Social Security article are a testament to this. Deciding when to claim Social Security is a personal choice, involving financial and non-financial considerations. One thing I’ve noticed: Most folks are sure they made the right choice, regardless of what happens later.
- Sharing part of your personal story with strangers is scary, but worthwhile. I’m always impressed—and a bit awed—at the stories that the site’s authors share. I’m grateful for their courage and selflessness.
- Retirement isn’t an end. Rather, it’s a fresh chance to engage in all manner of activities. One of the things I thought I wanted most from retirement was autonomy over my time. That’s still important, but I’ve found it needs to be balanced with family, friendship, purpose and activity. I think finding the right balance is one of the most important parts of life, and especially so in retirement
- I feel tremendous gratitude to the HumbleDollar community for its patience, forbearance and friendship. I look forward to many more years of participation.
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.
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Hi Rick, congratuation on your 150th article! Looking forward to many to come with your words of wisoms and insights. Thanks.
Thanks SCao.
The civility here in Humble Dollar is what I enjoy. It’s an oasis of respectful conversation that I am looking forward daily.
Thanks Neyugn
I’ve enjoyed your many contributions and the many comments which followed them. In this article, the “margin of safety” you mentioned is a critically important concept. It helps us to accept market gyrations and to resist the urge to do something we may later regret (Charlie Munger said don’t do anything stupid”). Your experiences doing volunteer work with the working poor and retirees who are struggling financially is an important reminder for all of us. While my wife and I are secure, I do know many who are not, and in many cases I suspect its not so much poor decision making on their parts, but rather bad luck. I am looking forward to #151!
Jack Bogle’s version of Charlie Munger’s quote,”Don’t just do something, stand there.”
Jack, thanks for reading and your kind words.
Congratulations! That’s an impressive number and a worthy 150th article.
Thanks Kathy. I appreciate all your contributions. I’ve learned so much from your experiences and well written articles.
We’re all of us indebted to Jonathan for what he has created in HD. It’s a constant source of learning and sharing, and I’ve recommended it to others countless times.
Rick, with your tremendous store of knowledge and the kind and modest way you present it, you embody the very best of what makes HD special.
Congrats on the 150 and hope you keep it up!
Thanks Andrew. You are far too kind.
Richard congrats. Very good boiled down list. Good perspective. Jonathan has created a forum that is informative AND civil.
James, thanks for all your contributions. Your knowledge is so valuable.
Congratulations on your 150th article, we appreciate your wisdom!
Thanks Stacy. You are very kind.
What a timely article Rick. Emails from HD were showing up in my inbox for a couple years. Thinking they were spam from one of many insurance companies I had been licensed with I never opened them up, straight to junk. When I finally read one I immediately signed up for the weekly newsletter. Last year when JC asked for people’s story i took the plunge and began writing. It feels like family now. You and i could no doubt share tax prep tales for hours. And who ever thought this old union thug would have so much in common with a HR guy (you know who you are Richard).
Here’s to many more years!
Dan thanks. I hope we can share tax prep stories some time, and many more years of HD. We are lucky to share so many authors varied experience.
These are all great goals for life. While they are financial in nature, they also appeal to our social well-being, too. Thanks for your contributions.
I appreciate the kind words Jeff.
Along with valued information, your articles are peppered with Grace and humility. thanks Rick..
Thanks Marjorie. You are too kind.
Rick thanks for the 150 articles. Without them we would be less informed.
Thanks AK. I try my best.
“An important part of my life.” I think that’s true for many of us. Jonathan has created a unique space, and shared it with bevy of other writers, while shepherding and shaping their work to give it the HD flavor. I’m also hoping for many more years.
Your offerings have also been important. I look forward to a solid, useful article when I see your byline.
Congratulations on 150. You didn’t just check the box—this one’s first rate.
Thanks Edmund. You are too kind. I too look forward to many more years of HD.
Thanks to everyone for the kind words. I had another observation, but I wasn’t sure I’d get it past the editor. All of us in the HumbleDollar community are lucky to have Jonathan in our lives. All of our lives have been enriched by his generosity, patience, wisdom, and friendship.
“. . . wasn’t sure I’d get it past the editor . . .” Ha! I almost did that on one of my first articles, but decided he knew better than me. Now that you’ve gone public, I might be emboldened! 🙂
Thanks, Rick!
Rick, thanks for all the articles over the years. I always look forward to reading your latest musings!
Doug, you are very welcome, and thanks for the compliment.
You’ve created an exceptional body of HD work, Rick! Whenever one of your pieces appears on the HD masthead, I know I’m going to get a thoughtful, linear flow of thought on your topic, typically served with a side dish of genuine humility.
Thank you for sharing your acquired wisdom with all of us over these past 4+ years…“You’re a good man, Charlie Brown”
Thanks Newsboy. I appreciate the kind words and love the Charlie Brown reference.
Rick – simply put and well stated.
Thanks John.
Rick, Congrats on the 3x “golden” article milestone! #13 resonates with me. One has to be humble to share insights and stories. Thank you for sharing so many of yours with us.
Jeff, thanks for the kind words.
I enjoyed all these insights. Thank you. I look forward to more. And 15 for 150 — a 10% return — that’s something HD readers can appreciate!
Thanks for the kind words. I love the ROI analogy!
Congratulations on your latest HumbleDollar milestone, Rick. That’s quite an accomplishment. Nice set of observations. 15 is a good number. I really liked #11, despite it being a prime.
There’s still nothing wrong with prime numbers. They’re just unique!
🙂
Thakks Ken.
Nice summary Rick. I share your thoughts. I’m a bit ahead of you in terms of reading and articles written for Humble Dollar, but like you it has become an important part of my retired life, especially as things slow down. Actually reading HD begins every day.
Thanks Dick. I always look forward to your articles and comments.