Mark, for 3 weeks a year, I would simply buy a few window rattlers to cool a bedroom or two, and for more luxury a unit for a living room/family room. We live in an area that until 15 years ago only needed AC a few weeks a year, and even then, generally would cool down at night. The window AC units were a good intermediate solution at a modest cost. We did finally install central AC 8 years ago, and it's nice to have cool air throughout the house. For us, it wasn't so much the temps, but the humidity- especially at night.
I held VNQ for about 17 years, but dropped it in 2020 as was concerned about impacts from COVID work from home mandates, and its impact on commercial real estate. Since then have worked towards simplicity, and reducing funds, and allocations to specialty sectors.
Dennis, great post as usual, and thoughtful replies. I would add that it may be useful for you to listen to a recent podcast by Christine Benz with Harry Margolies on the Long View (sorry- don't know how to link it, but Google should find it easily for you). Harry discussed the stages of retirement, and mentioned that age 75 was generally the age when one should start to evaluate their housing/living arrangements for their future years. I believe he generally thought aging in place wasn't favorable if one has the resources to look at more senior friendly options such as Independent/Assisted Living (possibly within a CCRC). He also mentioned some seniors with more modest budgets are also finding some alternatives to CCRCs/ALFs, such as senior apartment communities that are set up with residents needing to offer a service to the community in return for living in it. The service they provide helps offset the cost the folks pay for such services in traditional retirement communities. Some are also moving back to or near city centers and renting apartments or buying condos near where their daily needs can be met with minimal travel needed by auto. Some of the buildings they move to may lean to more senior occupancy, but not necessarily restricted by age. Anyways, I feel any of the above options could give a senior a better quality of life vs. aging in place- especially from an ease of living and socialization standpoint. The main takeaway from the podcast for me was that around age 75 seems to be a good age to consider a change in lifestyle while one can still do so somewhat easily physically. Once one ages much beyond 75-80 years old, they tend to age in place due to the dependence on others to facilitate a change.
I too went through a bit of this with a claim I filed for a parent. There seems to be some pain in the initial process of qualifying- usually getting agreement that a certain # of assistance with daily living needs have been met. You can usually file an appeal with the insurance company, and if you still feel the claimant should be getting paid, you can file a complaint with the state insurance board that oversees LTC providers. I did have to go thru an appeal process with my parent's claim, which ended up working. Once the claim was approved, it was only subject to an annual review.
We are a bit of 2 options- LTC insurance and self funding. I purchased LTC through a group plan with my employer when I was in my mid 50s (this seems to be a good age to purchase if one is inclined to). At the time we didn't know if we could self fund, but thought purchasing a plan with a modest daily benefit was perhaps worthwhile while also keeping premiums somewhat modest. We are now approaching 70, and it appears we could probably easily self fund, but will retain the LTC policies, as they provide a nice financial backstop should one of us need LTC. Premiums have increased (non-inflation related) a few times, but not hugely so. I don't know if this is a function of our state regulator holding down increases, but so far so good. I will add that in spite of the negative press LTC insurance receives, it is a useful product. One of my parents had a policy in place for about 15 years before needing it in the last 3 years of life. Self funding the care could have been done, but if the care extended much beyond 5 years, or if memory care was needed, it may have stretched the assets for the surviving spouse who also may have needed the assets for their care. As it worked out 3 years of Assisted Living expenses were fully covered, which the spouse also received as they shared the ALF apartment with the spouse that had filed the claim. The claim paid out nearly $10,000 a month for care.
32% USTotal Mkt Index
5% US SCV
13% Total International Index
20% Short term Treasuries and CDs (1-3 years)
20% TIPs (1-5 years) and IBonds
10% Total Bond Index Fund Currently retired, holding a 50/50 asset allocation. Planning to glide to a 60/40 allocation in a few years when take SS at age 70. Holding small amount in cash to meet 3-4 months expenses.
Also came of age in the mid 70s. I worked at an ice cream shop for $2.10 an hour after school. I thought I was getting ahead by earning tips on top of that! We do have other arrows in our quiver when it comes to driving options now versus then though. New and used EV’s are widely available, and in spite of fear mongering by some about their drawbacks, they work pretty darn well, with a much better driving experience. My cost to fill up with electricity is much less on a per mile basis than with gas. One also has the option to install solar if they wish to further offset that cost. Small cars are still widely available as well as hybrids of various types. One just has to choose to buy one instead of the gas guzzler‘s. Never understood why people buy huge trucks and SUVs and never utilize them for the size that they are when something much smaller would work just fine. I guess many of those owners didn’t grow up in the 70s and and/or have short memories of what could happen with gas prices.
I’ve been pitched direct indexing a few times by Fidelity for about 30-35 bps fee. They say the returns are superior to holding a simple index fund because they can tax loss harvest the losers in my account over time. I think that might be true for a few years (at best), but as years go by those rebalancing opportunities will be limited, especially in a rising equity market. The main issue I had with implementing such a strategy, was Fidelity wanted to sell off my current indexed portfolio which has substantial gains, and pay large capital gain taxes now. I said no thank you! I prefer the simplicity of holding a few funds to capture the market returns. IMO, I feel direct indexing is a new product being marketed by advisors to investors as the latest and greatest scheme for superior returns. YMMV
I think the larger point Mark makes is we all take on tasks in our life that could be outsourced and free up our time for other more meaningful pursuits in life. I just hired a landscaping firm to take over yard maintenance. I never minded tending to the yard, but have realized that several times over the past few years I may have enjoyed an afternoon on the bike trail, beach, or socializing with friends rather than mowing my lawn. I could certainly save a few thousand a year DIY my yard work, but I’m looking forward to enjoying the time not spent in the yard on other pursuits. As Mark quoted Jonathan “money is a tool to lead a happy life, not an end unto itself”… I believe most folks can find tasks that are somewhat unpleasant (maybe not as bad as cutting up an oil tank!) but still do because of inertia, or a continuing need to be frugal.
Comments
Mark, for 3 weeks a year, I would simply buy a few window rattlers to cool a bedroom or two, and for more luxury a unit for a living room/family room. We live in an area that until 15 years ago only needed AC a few weeks a year, and even then, generally would cool down at night. The window AC units were a good intermediate solution at a modest cost. We did finally install central AC 8 years ago, and it's nice to have cool air throughout the house. For us, it wasn't so much the temps, but the humidity- especially at night.
Post: The Price of a Cool Pillow
Link to comment from June 26, 2026
I held VNQ for about 17 years, but dropped it in 2020 as was concerned about impacts from COVID work from home mandates, and its impact on commercial real estate. Since then have worked towards simplicity, and reducing funds, and allocations to specialty sectors.
Post: What’s in your portfolio ?
Link to comment from June 25, 2026
Dennis, great post as usual, and thoughtful replies. I would add that it may be useful for you to listen to a recent podcast by Christine Benz with Harry Margolies on the Long View (sorry- don't know how to link it, but Google should find it easily for you). Harry discussed the stages of retirement, and mentioned that age 75 was generally the age when one should start to evaluate their housing/living arrangements for their future years. I believe he generally thought aging in place wasn't favorable if one has the resources to look at more senior friendly options such as Independent/Assisted Living (possibly within a CCRC). He also mentioned some seniors with more modest budgets are also finding some alternatives to CCRCs/ALFs, such as senior apartment communities that are set up with residents needing to offer a service to the community in return for living in it. The service they provide helps offset the cost the folks pay for such services in traditional retirement communities. Some are also moving back to or near city centers and renting apartments or buying condos near where their daily needs can be met with minimal travel needed by auto. Some of the buildings they move to may lean to more senior occupancy, but not necessarily restricted by age. Anyways, I feel any of the above options could give a senior a better quality of life vs. aging in place- especially from an ease of living and socialization standpoint. The main takeaway from the podcast for me was that around age 75 seems to be a good age to consider a change in lifestyle while one can still do so somewhat easily physically. Once one ages much beyond 75-80 years old, they tend to age in place due to the dependence on others to facilitate a change.
Post: Close to Everything I Need
Link to comment from June 22, 2026
I too went through a bit of this with a claim I filed for a parent. There seems to be some pain in the initial process of qualifying- usually getting agreement that a certain # of assistance with daily living needs have been met. You can usually file an appeal with the insurance company, and if you still feel the claimant should be getting paid, you can file a complaint with the state insurance board that oversees LTC providers. I did have to go thru an appeal process with my parent's claim, which ended up working. Once the claim was approved, it was only subject to an annual review.
Post: How do you prepare for the long term care cost as retiree?
Link to comment from June 22, 2026
We are a bit of 2 options- LTC insurance and self funding. I purchased LTC through a group plan with my employer when I was in my mid 50s (this seems to be a good age to purchase if one is inclined to). At the time we didn't know if we could self fund, but thought purchasing a plan with a modest daily benefit was perhaps worthwhile while also keeping premiums somewhat modest. We are now approaching 70, and it appears we could probably easily self fund, but will retain the LTC policies, as they provide a nice financial backstop should one of us need LTC. Premiums have increased (non-inflation related) a few times, but not hugely so. I don't know if this is a function of our state regulator holding down increases, but so far so good. I will add that in spite of the negative press LTC insurance receives, it is a useful product. One of my parents had a policy in place for about 15 years before needing it in the last 3 years of life. Self funding the care could have been done, but if the care extended much beyond 5 years, or if memory care was needed, it may have stretched the assets for the surviving spouse who also may have needed the assets for their care. As it worked out 3 years of Assisted Living expenses were fully covered, which the spouse also received as they shared the ALF apartment with the spouse that had filed the claim. The claim paid out nearly $10,000 a month for care.
Post: How do you prepare for the long term care cost as retiree?
Link to comment from June 22, 2026
32% USTotal Mkt Index 5% US SCV 13% Total International Index 20% Short term Treasuries and CDs (1-3 years) 20% TIPs (1-5 years) and IBonds 10% Total Bond Index Fund Currently retired, holding a 50/50 asset allocation. Planning to glide to a 60/40 allocation in a few years when take SS at age 70. Holding small amount in cash to meet 3-4 months expenses.
Post: What’s in your portfolio ?
Link to comment from June 13, 2026
Also came of age in the mid 70s. I worked at an ice cream shop for $2.10 an hour after school. I thought I was getting ahead by earning tips on top of that! We do have other arrows in our quiver when it comes to driving options now versus then though. New and used EV’s are widely available, and in spite of fear mongering by some about their drawbacks, they work pretty darn well, with a much better driving experience. My cost to fill up with electricity is much less on a per mile basis than with gas. One also has the option to install solar if they wish to further offset that cost. Small cars are still widely available as well as hybrids of various types. One just has to choose to buy one instead of the gas guzzler‘s. Never understood why people buy huge trucks and SUVs and never utilize them for the size that they are when something much smaller would work just fine. I guess many of those owners didn’t grow up in the 70s and and/or have short memories of what could happen with gas prices.
Post: My Recent Fill-up
Link to comment from May 14, 2026
Yes. Sorry bout that- you learned a new acronym!
Post: Direct Indexing Anyone?
Link to comment from May 11, 2026
I’ve been pitched direct indexing a few times by Fidelity for about 30-35 bps fee. They say the returns are superior to holding a simple index fund because they can tax loss harvest the losers in my account over time. I think that might be true for a few years (at best), but as years go by those rebalancing opportunities will be limited, especially in a rising equity market. The main issue I had with implementing such a strategy, was Fidelity wanted to sell off my current indexed portfolio which has substantial gains, and pay large capital gain taxes now. I said no thank you! I prefer the simplicity of holding a few funds to capture the market returns. IMO, I feel direct indexing is a new product being marketed by advisors to investors as the latest and greatest scheme for superior returns. YMMV
Post: Direct Indexing Anyone?
Link to comment from May 11, 2026
I think the larger point Mark makes is we all take on tasks in our life that could be outsourced and free up our time for other more meaningful pursuits in life. I just hired a landscaping firm to take over yard maintenance. I never minded tending to the yard, but have realized that several times over the past few years I may have enjoyed an afternoon on the bike trail, beach, or socializing with friends rather than mowing my lawn. I could certainly save a few thousand a year DIY my yard work, but I’m looking forward to enjoying the time not spent in the yard on other pursuits. As Mark quoted Jonathan “money is a tool to lead a happy life, not an end unto itself”… I believe most folks can find tasks that are somewhat unpleasant (maybe not as bad as cutting up an oil tank!) but still do because of inertia, or a continuing need to be frugal.
Post: Scent of a Cheapskate: Frugality Gone Wrong
Link to comment from April 17, 2026