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A Can of Worms
24 replies
AUTHOR: Dan Smith on 7/17/2026
FIRST: Andrew Clements on 7/17 | RECENT: DAN SMITH on 7/21
Haunted Head
38 replies
AUTHOR: Dan Smith on 7/3/2026
FIRST: Patrick Brennan on 7/3 | RECENT: Dan Smith on 7/12
Lessons Learned Along the Way
27 replies
AUTHOR: Dan Smith on 6/25/2026
FIRST: Mark Crothers on 6/26 | RECENT: Dan Smith on 7/1
Still Teaching
6 replies
AUTHOR: Dan Smith on 6/22/2026
FIRST: Mark Crothers on 6/22 | RECENT: Mark Crothers on 6/25
They're Right, I'm Wrong, Sort Of
27 replies
AUTHOR: Dan Smith on 2/2/2025
FIRST: W.D. Housley on 2/2/2025 | RECENT: john deam on 6/20
He Said I Wasn’t Very Nice
31 replies
AUTHOR: Dan Smith on 6/18/2026
FIRST: baldscreen on 6/18 | RECENT: William Perry on 6/20
…..taxes and you
47 replies
AUTHOR: Dan Smith on 6/11/2026
FIRST: Neil Andrews on 6/12 | RECENT: Dunn Werking on 6/19
Would You Be Miserable?
36 replies
AUTHOR: Dan Smith on 6/8/2026
FIRST: greg_j_tomamichel on 6/8 | RECENT: Andrew Clements on 6/10
Setting the Hook, Reeling In the Fish
11 replies
AUTHOR: Dan Smith on 6/2/2026
FIRST: R Quinn on 6/2 | RECENT: Dan Smith on 6/8
Lifetime Supply
32 replies
AUTHOR: Dan Smith on 5/20/2026
FIRST: Mark Crothers on 5/21 | RECENT: Andy Morrison on 5/31
Take a Look In the Mirror
13 replies
AUTHOR: Dan Smith on 5/16/2026
FIRST: R Quinn on 5/16 | RECENT: R Quinn on 5/18
HumbleDollar’s HumbleDrivers
28 replies
AUTHOR: Dan Smith on 5/13/2026
FIRST: R Quinn on 5/13 | RECENT: R Quinn on 5/14
Debreifing
46 replies
AUTHOR: Dan Smith on 3/27/2026
FIRST: David Lancaster on 3/27 | RECENT: Brian White on 4/25
Stock Market Contest
14 replies
AUTHOR: Dan Smith on 4/3/2026
FIRST: Mark Crothers on 4/3 | RECENT: Randy Dobkin on 4/5
My Favorite Rx
20 replies
AUTHOR: Dan Smith on 3/19/2026
FIRST: Mark Crothers on 3/20 | RECENT: Dan Smith on 3/23
Questions Matter
16 replies
AUTHOR: Dan Smith on 3/13/2026
FIRST: Mark Crothers on 3/13 | RECENT: Dan Smith on 3/18
New to building a CD or Bond Ladder?
36 replies
AUTHOR: Dan Smith on 2/27/2026
FIRST: David Mulligan on 2/27 | RECENT: David Lancaster on 3/8
When Your Pastime Takes Ownership
21 replies
AUTHOR: Dan Smith on 3/6/2026
FIRST: Mark Crothers on 3/6 | RECENT: Mark Crothers on 3/8
Fifty Ways
14 replies
AUTHOR: Dan Smith on 2/19/2026
FIRST: William Perry on 2/19 | RECENT: MikeinLA on 2/21
Punched in the Mouth
8 replies
AUTHOR: Dan Smith on 2/13/2026
FIRST: R Quinn on 2/13 | RECENT: Mark Crothers on 2/14
No Such Thing as Easy Money
20 replies
AUTHOR: Dan Smith on 1/8/2026
FIRST: Michael01670723 on 1/8 | RECENT: Dan Smith on 1/10
Artificial Intelligence and Payroll Tax
5 replies
AUTHOR: Dan Smith on 1/2/2026
FIRST: Mark Crothers on 1/2 | RECENT: William Dorner on 1/4
My Investing Journey, Just Do It
20 replies
AUTHOR: Dan Smith on 11/28/2025
FIRST: Bogdan Sheremeta on 11/28/2025 | RECENT: Lester Nail on 12/3/2025
The Kids Are Alright
26 replies
AUTHOR: Dan Smith on 11/21/2025
FIRST: Nick Politakis on 11/21/2025 | RECENT: S Phillips on 11/23/2025
Not Just About the Money
15 replies
AUTHOR: Dan Smith on 11/19/2025
FIRST: greg_j_tomamichel on 11/19/2025 | RECENT: William Perry on 11/21/2025
A Record Journey
38 replies
AUTHOR: Dan Smith on 8/19/2025
FIRST: Mark Crothers on 8/19/2025 | RECENT: Dan Smith on 8/25/2025
Effective vs. Marginal? Nah…..
11 replies
AUTHOR: Dan Smith on 7/6/2025
FIRST: Adam Starry on 7/6/2025 | RECENT: R Quinn on 7/7/2025
No Time Left for Calculating My Net Worth
7 replies
AUTHOR: Dan Smith on 6/14/2025
FIRST: Liam K on 6/14/2025 | RECENT: Edward James on 6/17/2025
Change Lanes, Expand Your Wheelhouse, Learn Some New Tricks
18 replies
AUTHOR: Dan Smith on 6/8/2025
FIRST: Liam K on 6/8/2025 | RECENT: Donny Hrubes on 6/14/2025
The Opposite of HumbleDollar
51 replies
AUTHOR: Dan Smith on 4/29/2025
FIRST: 1PF on 4/29/2025 | RECENT: bbbobbins on 5/9/2025
A False Sense of Security
27 replies
AUTHOR: Dan Smith on 4/28/2025
FIRST: R Quinn on 4/28/2025 | RECENT: Mark Bergman on 4/30/2025
Three Points to Avoid Injuries
27 replies
AUTHOR: Dan Smith on 4/26/2025
FIRST: Jonathan Clements on 4/26/2025 | RECENT: normr60189 on 4/27/2025
Adult Autism
21 replies
AUTHOR: Dan Smith on 10/30/2024
FIRST: Jonathan Clements on 10/30/2024 | RECENT: DAN SMITH on 3/22/2025
What If
12 replies
AUTHOR: Dan Smith on 3/2/2025
FIRST: baldscreen on 3/2/2025 | RECENT: DAN SMITH on 3/3/2025
How Do You Spell Research?
9 replies
AUTHOR: Dan Smith on 2/24/2025
FIRST: Jeff Bond on 2/24/2025 | RECENT: Jerry Pinkard on 2/26/2025
I’ve stolen the words Willful Ignorance and Disengagement from a prior forum post.
22 replies
AUTHOR: Dan Smith on 1/21/2025
FIRST: normr60189 on 1/21/2025 | RECENT: Dan Smith on 1/30/2025
Get Your Stuff Together (For Taxes)
18 replies
AUTHOR: Dan Smith on 1/3/2025
FIRST: mytimetotravel on 1/3/2025 | RECENT: stelea99 on 1/4/2025
Filing Status and IRMMA
1 reply
AUTHOR: Dan Smith on 12/15/2024
FIRST: Jerry Pinkard on 12/16/2024 | RECENT: Jerry Pinkard on 12/16/2024
Sleep Disorder
20 replies
AUTHOR: Dan Smith on 10/17/2024
FIRST: Edmund Marsh on 10/17/2024 | RECENT: Dan Smith on 10/18/2024
The Choice to do Nothing
39 replies
AUTHOR: Dan Smith on 10/14/2024
FIRST: Andrew Forsythe on 10/14/2024 | RECENT: R Quinn on 10/16/2024
Who Doesn't Like a Huge Tax Return?
13 replies
AUTHOR: Dan Smith on 10/13/2024
FIRST: Jonathan Clements on 10/13/2024 | RECENT: Rick Connor on 10/14/2024
Jabs Anyone?
66 replies
AUTHOR: Dan Smith on 9/21/2024
FIRST: R Quinn on 9/21/2024 | RECENT: Ski Bum on 10/7/2024
Social Security Solutions
5 replies
AUTHOR: Dan Smith on 10/4/2024
FIRST: R Quinn on 10/4/2024 | RECENT: R Quinn on 10/6/2024
Analog versus Digital
2 replies
AUTHOR: Dan Smith on 9/24/2024
FIRST: Jo Bo on 9/24/2024 | RECENT: Dan Smith on 9/24/2024
Final Decision
27 replies
AUTHOR: Dan Smith on 9/1/2024
FIRST: OldITGuy on 9/1/2024 | RECENT: CJ on 9/10/2024
I Ain't Stupid Ya Know
33 replies
AUTHOR: Dan Smith on 8/27/2024
FIRST: David Lancaster on 8/27/2024 | RECENT: Nick Politakis on 8/31/2024
On Being Aware
10 replies
AUTHOR: Dan Smith on 8/25/2024
FIRST: Winston Smith on 8/25/2024 | RECENT: Mark Eckman on 8/31/2024
Cash On Hand
29 replies
AUTHOR: Dan Smith on 8/7/2024
FIRST: Jeff Bond on 8/7/2024 | RECENT: cesplint on 8/24/2024
It Hurt So Good
11 replies
AUTHOR: Dan Smith on 8/2/2024
FIRST: baldscreen on 8/2/2024 | RECENT: Dan Smith on 8/4/2024
A Case for First Class
12 replies
AUTHOR: Dan Smith on 7/22/2024
FIRST: mytimetotravel on 7/22/2024 | RECENT: Ginger Williams on 7/24/2024
I WAS 48 years old when the judgement was final and the papers were signed. My former wife and I split our net worth 50/50. There were no arguments over household items like furniture; I didn’t care about that stuff. Pam gladly accepted my proposal that she keep the house, and all its equity, in exchange for me keeping an offsetting amount of the IRAs and my 401(k), a very good move for my future self.
IT WAS 1982 OR thereabouts. After attempting to be a landlord for several years, I decided it wasn’t for me. I sold the house and the four-family apartment building I’d been managing.
The final task in closing out this adventure would come at tax time. Keeping the books was the one aspect of being a landlord that I didn’t mind. I understood how accumulated appreciation would be recaptured and how capital gains tax would affect that year’s taxes.
I RECENTLY READ AN article by Anna D. Banks, an executive coach and human behavior consultant, who talks about the importance of cultivating friendships in retirement. She discusses embracing new activities, volunteering, reconnecting with old friends, using technology, attending social events, and being open-minded about forming friendships with people from other backgrounds.
All this got me thinking about HumbleDollar.
The Breakfast Club is a coming-of-age movie from 1985—a movie,
JEFF, DAVE, JERRY, Glenn, John, the ElderBeerMen, and then Jeff again. Experts say a robust social network is crucial to a happy retirement. My life’s journey has revolved around a handful of friends who begin and end with the same good dude.
I was a 15-year-old kid who didn’t like school, and I had the grades to prove it. I did, however, have two burning desires. I couldn’t wait to turn 16 so that,
“SELL THE SIZZLE, BOYS.” With those words from the sales manager at a big insurance company, the 2003 class of newly minted registered representatives were off to the races, extolling the virtues of the firm’s products to family, friends and anyone else who would listen.
I still vividly remember that moment. Yes, I was there.
To become registered reps, the 2003 class had to pass the necessary exams to get a Series 6 securities license and a license to sell life and health insurance.
HOW DO SOME INVESTORS end up in places they don’t belong? Where do they turn for information and guidance? Who do they talk to before making important financial decisions?
What follows are the results of my unscientific research, which was conducted in some of the finest and most respected centers of advanced learning anywhere.
Barroom seminars, your window on the world. Are we talking politics, investing, religion, world peace or other topics of paramount importance,
WHEN I GOT DIVORCED, my ex-wife told the judge at family court that I was good with money. But most folks I knew at that time wouldn’t be so kind: They’d say I was cheap.
No, I didn’t align myself with the financial independence-retire early, or FIRE, movement. During my days as a driver-salesman, after I diverted 15% of my pay into the 401(k), I spent every nickel raising the kids, paying the bills and trying to keep up with my big bucks buddies.
IN SPRING 1984, WHEN I was age 32, we purchased a little ranch house in need of tender loving care. That’s why I found myself in a musty crawlspace, removing clutter and installing vapor barriers.
I heard a booming voice from above. It wasn’t God telling me I should run for president. Instead, it was my new neighbor Ken. I came to the surface, dusted myself off and went inside the house.
Standing there was a 47-year-old,
I SPENT A GOOD portion of my early adult life in neighborhood taverns. Back then, I sold beer for a living. You can imagine that I saw and heard some crazy things. Remember the sitcom Cheers? I knew doppelgangers for each and every Cheers character.
But the things I heard in those bars didn’t come close to the things I heard later when I worked as an income-tax preparer.
I DON’T FIT THE USUAL profile of a HumbleDollar reader. I don’t have what I’d consider a high net worth, nor am I a college graduate. Still, I hope my story shows it’s possible to reinvent yourself.
Around 1920, my dad’s family moved—with few belongings but a willingness to work—from Tennessee to northwestern Ohio. My dad met my mom while working at Hostess Bakery, and he later worked at Willys-Overland, welding together Jeeps during World War II.
Comments
David, congrats on the fine adults that your kids have become. My former spouse and I have been similarly blessed, but I don’t know if it was due to parental skills, or just our dumb luck.
Post: A Can of Worms
Link to comment from July 18, 2026
Andrew, I wonder if those two fellas from the bar ever learned the lesson of compounding bad decisions.
Post: A Can of Worms
Link to comment from July 17, 2026
So true, Greg. I remember something a professor said in a marketing class over 50 years ago; a turtle is most vulnerable when his head is exposed, but he can't get anywhere until he sticks his neck out.
Post: A Can of Worms
Link to comment from July 17, 2026
Not filing may not be a big deal if you don’t have a balance due, and are not trying to game the system for some reason. But yes, if you have a balance due, or are attempting to use one of the many phoney arguments against filing, you can get yourself in a heap of trouble, boy!
Post: IRMAA & late filing of tax returns
Link to comment from July 17, 2026
Mark, what an inspiring post to start my day! It helps mitigate the depressing effects of the Canadian wildfire smoke that is permeating my city, along with much of the eastern US. Thanks!
Post: The Paradox of Wealth
Link to comment from July 16, 2026
Danbo, you’ve given me a great idea for a “can of worms” article. Someone attempting a scheme to avoid paying the IRMAA premiums, should arrange in advance, to have a friend or relative bake a cake with a file concealed; you know, just in case…. I never came across anyone trying this, so had to take a quick trip to AI for some direction; The Criminal Risk: Willful Failure to FileThis is the most critical line to cross. Under Internal Revenue Code Section 7203, willfully failing to file a tax return when you meet the gross income threshold to do so is a federal misdemeanor.
- It carries a penalty of up to $25,000 in fines and up to one year in prison for each year you fail to file.
- If the IRS can prove that the taxpayer consciously chose not to file specifically to conceal income or evade a federal assessment (such as the federally mandated IRMAA surcharge), a civil examiner can easily refer the case to the IRS Criminal Investigation Division.
No Statute of LimitationsWhen you file a tax return, it starts a three-year clock (the statute of limitations) after which the IRS can no longer audit or adjust that return. If you do not file a return, the statute of limitations never starts. The IRS has an infinite amount of time—whether it is 5, 10, or 20 years from now—to come back, audit your records, file an SFR, and assess back taxes, penalties, and interest. SummaryThe federal government’s data-sharing loop between the IRS and the Social Security Administration is highly automated. Attempting to dodge IRMAA by not filing will ultimately result in the IRS filing a highly unfavorable "Substitute for Return" on your behalf, which will subsequently trigger the very IRMAA premiums you were trying to avoid—all while exposing you to criminal "willful failure to file" charges. The only legal, viable way to reduce or eliminate an IRMAA premium is to proactively manage your MAGI (using strategies like Qualified Charitable Distributions from IRAs, tax-loss harvesting, or municipal bonds) or to file a formal appeal using Form SSA-44 if you have experienced a qualifying life-changing event.Post: IRMAA & late filing of tax returns
Link to comment from July 16, 2026
Dick, I totally understand “experience”. Yes, the aging population is reeking havoc on the system. I was thinking of things not covered by Medicare when I mentioned provider fees. Dental services, eye care, hearing aids for example. Luckily, we have Costco to mitigate some of the damage, just avoid the popcorn. Admin costs would make for an interesting conversation. I got quite the explanation when I asked AI why the fees are a higher % today than they were in the 70s.
Post: A discussion on health insurance, premiums, profits and such- a 50 year perspective most people don’t want to accept
Link to comment from July 15, 2026
We pay approximately $10K/year on Medicare and Plan G premiums, that is by far our largest financial obligation. I’m not complaining because those dollars are buying us the best healthcare we have ever had. Still, I wish there was a magic wand to wave, in order to keep provider costs in line with total inflation.
Post: A discussion on health insurance, premiums, profits and such- a 50 year perspective most people don’t want to accept
Link to comment from July 15, 2026
It's been six years, but there was no credit check when we bought our last car. I was a little surprised that they accepted our personal check, especially because we were not local residents.
Post: Buying a car in retirement
Link to comment from July 14, 2026
Yeah, one million just ain't what it used to be. I need to increase our coverage (still at one million).
Post: Reluctantly Saving Money
Link to comment from July 14, 2026