You can lock your accounts with the three credit bureaus. But this only prevents against opening accounts that require credit checks. Not sure if this would hav helped when opening an investment account.
I believe the most effective way to avoid ACH scams is to avoid keeping large amounts of money in your transactional account (usually checking). This is the account that is typically exposed to the public (checks, debit cards, etc.). Keep an offline MM or savings account and transfer funds as needed. That way the only monies that are exposed are in small amounts.
Actually, if you eliminate or substantially raise the income limit for SS taxes, "fair" would require you to factor those higher taxed wages into the benefit calculation accordingly to avoid Soc Sec becoming an even greater wealth redistribution program.
I’ll second the prior recommendation of Pralana Online. I’ve used it for five years and the level of modeling detail it allows exceeds anything I’ve ever needed or seen elsewhere. Not for the faint of heart, for sure, but it is comprehensive and accurate. Absolutely outstanding customer service, as well. I’ve seen customer suggestions and reported bugs addressed in a matter of days (or in one case, hours)The developers communicate with customers directly.
We own a 2002 Chevy Suburban (bought used in 2003 w/17< miles). It currently has 256K miles and is running like a top with pretty much only routine maintenance and wear/tear costs (tires, brakes, etc.). I cannot conceive of a scenario where I could operate a replacement vehicle for anywhere close to the low cost of this one. When you factor in taxes, considerably higher insurance costs for a newer vehicle, and the inflated repair costs for much more complex modern cars, there is simply no way I will rid myself of this car until it is unsafe to drive. When I finally do, its replacement will be an older vehicle with lower mileage and, hence, lower purchase/insurance/tax costs and NO debt. This is the way we have managed our transportation costs during 36 years of marriage (and five children). I have calculated that the positive impact of this strategy to our net worth amounts to over $400k over those 36 years. Spending large amounts of money (especially through borrowing) to own depreciating assets is a financially unsound and unwise strategy. The numbers speak for themselves.
You see that year/model of Chevy truck all over the road still. There’s a reason for that, that 2001 Silverado was five years into its production run. All the quality kinks had been detected and worked out of the manufacturing process by then. Our 2002 Suburban (purchased used in 2004) is the same. Still running reliably at 250k miles. That is the hidden secret of buying unreliable used vehicles.
Comments
You can lock your accounts with the three credit bureaus. But this only prevents against opening accounts that require credit checks. Not sure if this would hav helped when opening an investment account.
Post: Financial Fraud
Link to comment from September 5, 2026
I believe the most effective way to avoid ACH scams is to avoid keeping large amounts of money in your transactional account (usually checking). This is the account that is typically exposed to the public (checks, debit cards, etc.). Keep an offline MM or savings account and transfer funds as needed. That way the only monies that are exposed are in small amounts.
Post: Financial Fraud
Link to comment from September 5, 2026
Well, inaction has consequences, does it not? If you don't save, you don't have money to spend. It's called self-reliance. Kind of an American thing.
Post: Many seniors think we paid for our Social Security benefits based on the FICA taxes we paid. Let’s dispel that myth- we didn’t
Link to comment from June 22, 2026
Only if you want Social Security to become a welfare program, which it is not today (nor should it be, I believe).
Post: Many seniors think we paid for our Social Security benefits based on the FICA taxes we paid. Let’s dispel that myth- we didn’t
Link to comment from June 22, 2026
Actually, if you eliminate or substantially raise the income limit for SS taxes, "fair" would require you to factor those higher taxed wages into the benefit calculation accordingly to avoid Soc Sec becoming an even greater wealth redistribution program.
Post: Many seniors think we paid for our Social Security benefits based on the FICA taxes we paid. Let’s dispel that myth- we didn’t
Link to comment from June 22, 2026
Just because you’re big doesn’t mean you’re smart. For a school renowned for its economics reputation, these are bush-league mistakes.
Post: Endowment Lessons
Link to comment from February 21, 2026
I’ll second the prior recommendation of Pralana Online. I’ve used it for five years and the level of modeling detail it allows exceeds anything I’ve ever needed or seen elsewhere. Not for the faint of heart, for sure, but it is comprehensive and accurate. Absolutely outstanding customer service, as well. I’ve seen customer suggestions and reported bugs addressed in a matter of days (or in one case, hours)The developers communicate with customers directly.
Post: Recommendations for Retirement Planning Tools
Link to comment from August 2, 2025
We own a 2002 Chevy Suburban (bought used in 2003 w/17< miles). It currently has 256K miles and is running like a top with pretty much only routine maintenance and wear/tear costs (tires, brakes, etc.). I cannot conceive of a scenario where I could operate a replacement vehicle for anywhere close to the low cost of this one. When you factor in taxes, considerably higher insurance costs for a newer vehicle, and the inflated repair costs for much more complex modern cars, there is simply no way I will rid myself of this car until it is unsafe to drive. When I finally do, its replacement will be an older vehicle with lower mileage and, hence, lower purchase/insurance/tax costs and NO debt. This is the way we have managed our transportation costs during 36 years of marriage (and five children). I have calculated that the positive impact of this strategy to our net worth amounts to over $400k over those 36 years. Spending large amounts of money (especially through borrowing) to own depreciating assets is a financially unsound and unwise strategy. The numbers speak for themselves.
Post: How have you decided when it’s worth it to fix an old car?
Link to comment from May 25, 2025
I meant “reliable used vehicles”.
Post: Racking Up the Miles
Link to comment from June 29, 2024
You see that year/model of Chevy truck all over the road still. There’s a reason for that, that 2001 Silverado was five years into its production run. All the quality kinks had been detected and worked out of the manufacturing process by then. Our 2002 Suburban (purchased used in 2004) is the same. Still running reliably at 250k miles. That is the hidden secret of buying unreliable used vehicles.
Post: Racking Up the Miles
Link to comment from June 29, 2024