I'll offer a contrarian view. When I turned 80 in 2023, I bought a new Subaru Outback - the first new vehicle that I've purchased since buying a new Dodge diesel pickup in 1998. All my life I've worked on, repaired and maintained my vehicles with the idea that I'll run them til the wheels fall off.
But, after driving the new Subaru for a couple of years all that has changed. What I'm driving now is not a Car, but a computer with wheels attached, it's my Computer-Mobile.
I can no longer work on the thing. The vehicle functions solely through some form of obscure computer algorithms, touch screens, that include alarms, beeps and driver controls of all kinds. This is all coupled a with less than robust mechanical drive train that is mated to the computer. I'll suggest that, at best, it's a troubled marriage.
So, I have no confidence that this Computer-Mobile will hold up any better than the dozens of laptops, desktops and mobile phone computers I've purchased over the last couple of decades.
Thus, my strategy now is to own my Subaru Computer-Mobile until the 3 year bumper-to-bumper factory warranty is about to expire and then sell the old one and buy another new one, just like I did with all my other computers.
Yup, that's likely not a least cost approach. But, now that I'm into my 80's my vehicle ownership attitude has changed completely. I'm not about to take on the repair and maintenance obligations of this computer, I want the manufacturer to retain that problem.
BTW: Having said all that - I actually kind of like our Subaru Outback and will likely buy another one to use for about 2 1/2 years.
It was the late 70's and runaway inflation. I was snookered into buying - of all things - "investment grade" collectible tax stamps. Based on the sincerity of the stamp broker and his evidence of the stamp's rapid growth in value, it was certain to be a sweet deal... until it turned sour. Once I became disenchanted with the speculative returns, it quickly became apparent that I didn't have a clue what I was investing in, and that I failed to consider ease of liquidation and transaction fees.
The loss on that sure-thing-investment still smarts. But, it taught me to be a whole lot more Humble with my Dollar!
Well said: "My advise – if possible manage your own stocks and mutual funds, no one cares about your bottom line more than you do." Assets Under Management (AUM) Financial Advisors are much like a parasite, sucking outrages sums of money for questionable services, month after month. Having had numerous FA's over the years, I will never, ever, let anyone else manage my money... for better or worse. In the new world of on-line financial flat fee-based advisory services & no/low-fee brokers, there are few reasons to not take charge of your own assets.
I understand your frustration and inclination for anger. I'm predisposed to react similarly.
However, two thoughts:
1) Perhaps the "Fast Walker" is simply on the wrong side of the walkway due to a lot of "Slow Walking-Geezers" - he's in the "passing lane" - and he has a lot of Big Deals to do that morning that he thinks are a lot more important than confrontation with elderly strangers.
2) So, with that in mind, how about looking at this situation as an opportunity to mess with Mr Fast Walker's head. Give this passive aggressive approach a try: When you see him coming give him a big smile and waive - then a warm greeting - and then graciously and conspicuously step aside with a bit of fan fare. I suspect that some form of engagement like this will defuse whatever is in Mr. Fast Walker's head.
Convert your anger into an opportunity to shift the issue to the other guy, rather than internalizing it. (Though, often that's easier said, than done!)
Mark, I believe my dividend portfolio would disagree with your conclusion, with an average 5.8% dividend, Yield on Cost of 7.9% and a current capital gain of 32%. I rather enjoy my ever growing dividend stream and its solid capital appreciation.
This is indeed a timely article for us. Having recently joined the octogenarian club, my wife and I are converting a standard will to a Living Trust. As with the initial creation of our will, we are actively including our 2 adult children in the drafting process and discuss in detail what the provisions mean and how they are to be implemented. We are blessed with two responsible, common sense children and include them in nearly every aspect of our estate planning and financial decision making process.
One of the best things that our daughter made us do was adoption of an online password manager about 10 years ago to help us manage all the internet login names and passwords that we use. That system now includes common items like bank accounts, but also a host of other personal data critical to our affairs. I can't emphasize enough how beneficial implementation of that system has been for my wife and I. But, perhaps even more important, that system will immeasurably facilitate the transfer of our estate to our kids.
Comments
I'll offer a contrarian view. When I turned 80 in 2023, I bought a new Subaru Outback - the first new vehicle that I've purchased since buying a new Dodge diesel pickup in 1998. All my life I've worked on, repaired and maintained my vehicles with the idea that I'll run them til the wheels fall off. But, after driving the new Subaru for a couple of years all that has changed. What I'm driving now is not a Car, but a computer with wheels attached, it's my Computer-Mobile. I can no longer work on the thing. The vehicle functions solely through some form of obscure computer algorithms, touch screens, that include alarms, beeps and driver controls of all kinds. This is all coupled a with less than robust mechanical drive train that is mated to the computer. I'll suggest that, at best, it's a troubled marriage. So, I have no confidence that this Computer-Mobile will hold up any better than the dozens of laptops, desktops and mobile phone computers I've purchased over the last couple of decades. Thus, my strategy now is to own my Subaru Computer-Mobile until the 3 year bumper-to-bumper factory warranty is about to expire and then sell the old one and buy another new one, just like I did with all my other computers. Yup, that's likely not a least cost approach. But, now that I'm into my 80's my vehicle ownership attitude has changed completely. I'm not about to take on the repair and maintenance obligations of this computer, I want the manufacturer to retain that problem. BTW: Having said all that - I actually kind of like our Subaru Outback and will likely buy another one to use for about 2 1/2 years.
Post: Another HD Post About Cars
Link to comment from June 1, 2025
It was the late 70's and runaway inflation. I was snookered into buying - of all things - "investment grade" collectible tax stamps. Based on the sincerity of the stamp broker and his evidence of the stamp's rapid growth in value, it was certain to be a sweet deal... until it turned sour. Once I became disenchanted with the speculative returns, it quickly became apparent that I didn't have a clue what I was investing in, and that I failed to consider ease of liquidation and transaction fees. The loss on that sure-thing-investment still smarts. But, it taught me to be a whole lot more Humble with my Dollar!
Post: Stepping In It
Link to comment from June 1, 2025
Well said: "My advise – if possible manage your own stocks and mutual funds, no one cares about your bottom line more than you do." Assets Under Management (AUM) Financial Advisors are much like a parasite, sucking outrages sums of money for questionable services, month after month. Having had numerous FA's over the years, I will never, ever, let anyone else manage my money... for better or worse. In the new world of on-line financial flat fee-based advisory services & no/low-fee brokers, there are few reasons to not take charge of your own assets.
Post: Financial Advisor – NEVER AGAIN
Link to comment from May 10, 2025
I understand your frustration and inclination for anger. I'm predisposed to react similarly. However, two thoughts: 1) Perhaps the "Fast Walker" is simply on the wrong side of the walkway due to a lot of "Slow Walking-Geezers" - he's in the "passing lane" - and he has a lot of Big Deals to do that morning that he thinks are a lot more important than confrontation with elderly strangers. 2) So, with that in mind, how about looking at this situation as an opportunity to mess with Mr Fast Walker's head. Give this passive aggressive approach a try: When you see him coming give him a big smile and waive - then a warm greeting - and then graciously and conspicuously step aside with a bit of fan fare. I suspect that some form of engagement like this will defuse whatever is in Mr. Fast Walker's head. Convert your anger into an opportunity to shift the issue to the other guy, rather than internalizing it. (Though, often that's easier said, than done!)
Post: The Wrong-Sided Man
Link to comment from May 10, 2025
Mark, I believe my dividend portfolio would disagree with your conclusion, with an average 5.8% dividend, Yield on Cost of 7.9% and a current capital gain of 32%. I rather enjoy my ever growing dividend stream and its solid capital appreciation.
Post: You’ve Come a Long Way, Baby
Link to comment from May 3, 2025
This is indeed a timely article for us. Having recently joined the octogenarian club, my wife and I are converting a standard will to a Living Trust. As with the initial creation of our will, we are actively including our 2 adult children in the drafting process and discuss in detail what the provisions mean and how they are to be implemented. We are blessed with two responsible, common sense children and include them in nearly every aspect of our estate planning and financial decision making process. One of the best things that our daughter made us do was adoption of an online password manager about 10 years ago to help us manage all the internet login names and passwords that we use. That system now includes common items like bank accounts, but also a host of other personal data critical to our affairs. I can't emphasize enough how beneficial implementation of that system has been for my wife and I. But, perhaps even more important, that system will immeasurably facilitate the transfer of our estate to our kids.
Post: How Will You Know When It’s Time?
Link to comment from April 19, 2025