Dan Smith

Comments

• Yes, on it. I'm using a Fidelity Money Market (SPAXX) with over 12 months worth of cushion, and a CD ladder that's good for about another ten years.

  Post: Simplify Everything

  Link to comment from March 31, 2026

• I do love a good sale, but I'd rather see the wars end, both in the Middle East, and the Ukraine.

  Post: Any concern?

  Link to comment from March 31, 2026

• I get it, Dana. We contracted to build a home in 2002 when rates were under 4%, and would have borrowed at that rate. When the house was ready for us, rates had gone up to around 7%, so no mortgage for us.

  Post: Giving Up on Owning a Home

  Link to comment from March 31, 2026

•  It varies state to state. In Ohio it’s called a  ‘transfer on death affidavit’. It’s filed with the county auditor/recorder. I used WillMaker software to prepare mine; it has the proper form for each  state. There may be some states where this can’t be done.

  Post: Simplify Everything

  Link to comment from March 31, 2026

• In the meantime, Doug, just make sure you have beneficiaries properly named on everything, including your home. This will also avoid probate.

  Post: Simplify Everything

  Link to comment from March 31, 2026

• Doug, I love this subject, and have written a related post or two. In my first year in the tax prep business, I had a retired client with about a dozen funky partnership K1s and a duplex that he and his wife lived in. My first thought was, how will his widow deal with all this?  About one year ago, I consolidated most of our accounts into Fidelity, including IRAs, brokerage, checking, and credit card. I also use BitWarden for passwords, and Full View to keep an eye on investments, credit cards, and net worth. I do keep an IRA and brokerage account with an advisor friend of mine, for the purpose of not having all our eggs in the same basket.  There is one area where I am a step behind you. I still own a handful of funds that require occasional re-balancing. I don’t personally have a problem with this chore, however, Chris doesn’t share my interest in such things. Also, if I survive Chris, will there come a time when I’m no longer up to the task? I have my eye on the same Vanguard Life Strategy Funds, as well as some similar I-Shares funds. Capital Group has a managed balanced ETF, CGBL, that I like a lot. I would consider using it, along with one of the passive funds, due to low correlation. It has not been around too long, but is a near clone of the American Balanced Fund (ABALX), established in 1975. That fund has only suffered rolling three year losses in about three or four percent of all such periods since its inception. Unlike ABALX, CBGL has a .33% expense ratio and no front end load. I would argue that the expense ratio is well earned.

  Post: Simplify Everything

  Link to comment from March 31, 2026

• Sounds like you guys are going into the new place with your eyes wide open, just don’t let the stress of the renovations burn you out. And I know a great obedience trainer for the new puppy; I wonder if Kristine does zoom classes. This is a rare instance where I wish we could post pictures, as I’d love to see your new digs.

  Post: A Big Little Move (by Dana/DrLefty)

  Link to comment from March 30, 2026

• I just followed a link from one of the old posts that took me to a site listing hourly fee advisors. The hourly rates and one-time fees were all over the place, and some alphabet credentials that I’ve never heard of. I sure couldn’t tell which ones were any good by the information provided. Even knowing where and how to check, a bad advisor may not have any complaints or disciplinary action in their history. It’s scary.

  Post: Wrapping It Up

  Link to comment from March 30, 2026

• The combination of SS, which covers pretty much all of our expenses, a burn rate around 1%, along with both Chris and I being in our 70s, and investments that will (hopefully) provide real inflation adjusted growth, should get us through.  Some unknowns that could hit us in the face are Long Term Care, and possible cuts to SS.

  Post: Coping with inflation in retirement, what’s the plan?

  Link to comment from March 30, 2026

• I think Gen Z tops out around age 29 or 30. I guess our living in the midwest and having a barely seven figure net worth qualifies us as ‘midwest millionaires’. So I’m thinking of my younger self, and where I was at that age. My emergency fund was my mom and dad, and I didn’t have the benefit of a 401(k) like today's young workers do. I did have steady employment as a beer truck driver, though getting by on just one income while raising two kids was tough. My risky investment drug was rental properties; I’m thankful that we didn’t have crypto and sportsbooks back in the day.  Chris and I became good savers, and even though we got a late start together (age 49 and 47) we were mortgage free years before retiring. I can’t say the same for many of the boomers whose taxes I prepared, who presented 1098 forms showing mortgage interest paid.   I think Gen Z, and whoever follows them, have different challenges than we boomers, but they also have some tools that we didn’t. Some will use the available tools, and some won’t.

  Post: Giving Up on Owning a Home

  Link to comment from March 30, 2026