I believe in buying high-quality goods that I will use for a lifetime. The Klipsch speakers that you currently own are as good as anything you can buy today even though they are 50 years old. I too own a pair that I purchased 50 years ago when I worked at a high-end stereo store. The clothing that I own and wear are also quality goods. I have a chammy shirt from L.L. Bean that belonged to my great grandfather. The Levi’s jeans I am wearing right now are probably 20 years old, but still in good shape. I did put one pair of my Levi’s in the back of the closet because it was getting a little worn, but it wasn’t ripped or anything. It’s just a back up pair now. I have one shirt from Brooks Brothers, whose collar is a little frayed but it is probably 35 years old. What I’m wearing today I could have been wearing 50 years ago and I suspect I will be wearing until I die. The one area where I spend money that differs from most humble dollar readers is on automobiles. As I get older, I appreciate the improved safety features that new technologies brings to automobiles. The automatic driving assist in my new jeep grand Cherokee does correct me when I get distracted. I find it very useful at night and in the rain. I traded in a four year old Jeep with only 19,000 miles to get this new one. And the amount of money I got on my trade in at that point in time was probably 80% of what I paid for the car in 2021. I don’t like to spend money foolishly, but I don’t intend to be the richest man in the graveyard either.
You have to trust the math. Unless you expect to both die within 5 to 10 years, you are better off in equities. I am 70 and am 97% in stocks. A bit of cash from dividends that I will pull out next year. Even if the market crashes, you are not going to sell everything and what you have still in the market will come back. Dollar cost averaging works for buying as well as selling stocks. Trust the math.
I would not worry about crypto mining from quantum computing. I would worry about its ability to break Blockchain encryption, and therefore the security around the assetis at risk. There are encryption techniques available using quantum computing, but until they are in place, the entire blockchain world may simply be obsolete.
My thoughts exactly. The risk that the world will just decide that they are no longer interested in Crypto is too great for me. While crypto may be stable for many years and decades to come, many people probably thought the same thing about tulips back in the day when they were the hot investment item. If you don’t know about the tulip bubble, you should study it before you invest in crypto. I like assets with an intrinsic value.
OK, as somebody who has many advanced degrees in statistics and economics, I winced at your misunderstanding of the difference between mean and average. But for your analysis, it is of a little importance. A mean is where 50% of the people are above a specific number and 50% are below that number. Average is when you add up all of the people and divide by the number in the population. One or two outliers can’t significantly affect the value of an average whereas the mean may tell you what most people actually experience. For example, I was at a party last month where Jackie Marrs Was in attendance. Her $55 billion net worth made the average net worth of everybody in that room arround $660 million. I suspect that The mean net worth was probably under $1 million. my other comment is that one needs to worry about inflation in coming years. The actual 4% rule that is used by many planners says that 4% is the starting point for withdrawals from your portfolio. Withdrawals in future years are increased by the rate of inflation. But these are details. The idea that you don’t need one, two or $3 million to retire, is a correct assumption for most of us. if you have paid off your mortgage, your living costs go down substantially.
Two comments. First don’t look at the value for which you can sell the car but rather your replacement cost. The $2500 you paid to repair. It is a lot less than the replacement cost of a newer car. Second, and more importantly, the safety improvements of new cars is amazing. I purchased my first brand new car 18 months ago and I’m glad I did. The safety features of this car hopefully will save me when I do something stupid. I have no intention of being the richest man in the graveyard so this is one place where I am willing to spend some money.
There are many stretches of I-95 where the average speed of the left lane traffic is over 80 miles an hour. The Mercedes was designed as an auto bond cruiser and can easily and safely do 120 miles an hour. All you have to do is touch the gas pedal on the E350 And you can be well over your intended speed quite quickly. There is no excuse for doing that speed, but it is very easy to do in the Mercedes. That is actually one of the reasons why I like the adaptive cruise control on the car, I don’t have to decide what speed the car travels at.
I own a Mercedes E450, essentially the same car that you own, but with the six cylinder engine. I too like the convenience, comfort and mileage of the model, but the most important thing to me is the safety aspect. The car is giving me feedback on things when I try to do something stupid. It is not exactly a self driving car yet, but it is a car that will pay attention to what you’re doing and give you feedback when it thinks you are doing something wrong. You can still do the wrong thing if you want, but as I get older, I greatly appreciate the help from the car. I have owned several Mercedes E class cars and usually keep them about 11 years. However, as the technology continues to accelerate, and as I continue to get older, I may just have to look to replace more frequently. I have the money And my life has value. For those who look at the Mercedes and see nothing but $$$, remember the car also retains its value at resale. I sold one to a friend of mine several years ago and got almost what I paid for it. It only cost me about $700 a year in appreciation. He owned the car for four years, drove it 100,000 miles, and sold it for more than he paid me for it. Think of it as an asset that pays you in safety and comfort rather than in cash.
Comments
I believe in buying high-quality goods that I will use for a lifetime. The Klipsch speakers that you currently own are as good as anything you can buy today even though they are 50 years old. I too own a pair that I purchased 50 years ago when I worked at a high-end stereo store. The clothing that I own and wear are also quality goods. I have a chammy shirt from L.L. Bean that belonged to my great grandfather. The Levi’s jeans I am wearing right now are probably 20 years old, but still in good shape. I did put one pair of my Levi’s in the back of the closet because it was getting a little worn, but it wasn’t ripped or anything. It’s just a back up pair now. I have one shirt from Brooks Brothers, whose collar is a little frayed but it is probably 35 years old. What I’m wearing today I could have been wearing 50 years ago and I suspect I will be wearing until I die. The one area where I spend money that differs from most humble dollar readers is on automobiles. As I get older, I appreciate the improved safety features that new technologies brings to automobiles. The automatic driving assist in my new jeep grand Cherokee does correct me when I get distracted. I find it very useful at night and in the rain. I traded in a four year old Jeep with only 19,000 miles to get this new one. And the amount of money I got on my trade in at that point in time was probably 80% of what I paid for the car in 2021. I don’t like to spend money foolishly, but I don’t intend to be the richest man in the graveyard either.
Post: The Point of Diminishing Returns
Link to comment from December 6, 2025
You have to trust the math. Unless you expect to both die within 5 to 10 years, you are better off in equities. I am 70 and am 97% in stocks. A bit of cash from dividends that I will pull out next year. Even if the market crashes, you are not going to sell everything and what you have still in the market will come back. Dollar cost averaging works for buying as well as selling stocks. Trust the math.
Post: The rules we didn’t follow
Link to comment from November 1, 2025
I would not worry about crypto mining from quantum computing. I would worry about its ability to break Blockchain encryption, and therefore the security around the assetis at risk. There are encryption techniques available using quantum computing, but until they are in place, the entire blockchain world may simply be obsolete.
Post: Why Bitcoin?
Link to comment from September 27, 2025
My thoughts exactly. The risk that the world will just decide that they are no longer interested in Crypto is too great for me. While crypto may be stable for many years and decades to come, many people probably thought the same thing about tulips back in the day when they were the hot investment item. If you don’t know about the tulip bubble, you should study it before you invest in crypto. I like assets with an intrinsic value.
Post: Why Bitcoin?
Link to comment from September 27, 2025
OK, as somebody who has many advanced degrees in statistics and economics, I winced at your misunderstanding of the difference between mean and average. But for your analysis, it is of a little importance. A mean is where 50% of the people are above a specific number and 50% are below that number. Average is when you add up all of the people and divide by the number in the population. One or two outliers can’t significantly affect the value of an average whereas the mean may tell you what most people actually experience. For example, I was at a party last month where Jackie Marrs Was in attendance. Her $55 billion net worth made the average net worth of everybody in that room arround $660 million. I suspect that The mean net worth was probably under $1 million. my other comment is that one needs to worry about inflation in coming years. The actual 4% rule that is used by many planners says that 4% is the starting point for withdrawals from your portfolio. Withdrawals in future years are increased by the rate of inflation. But these are details. The idea that you don’t need one, two or $3 million to retire, is a correct assumption for most of us. if you have paid off your mortgage, your living costs go down substantially.
Post: There is no magic number – and it sure isn’t $1 million
Link to comment from September 13, 2025
Two comments. First don’t look at the value for which you can sell the car but rather your replacement cost. The $2500 you paid to repair. It is a lot less than the replacement cost of a newer car. Second, and more importantly, the safety improvements of new cars is amazing. I purchased my first brand new car 18 months ago and I’m glad I did. The safety features of this car hopefully will save me when I do something stupid. I have no intention of being the richest man in the graveyard so this is one place where I am willing to spend some money.
Post: How have you decided when it’s worth it to fix an old car?
Link to comment from May 24, 2025
And it came today, three days after I ordered it.
Post: Winning the Debt Game
Link to comment from April 29, 2025
Amazon today says I can get my paperback edition in three days. $21.99.
Post: Winning the Debt Game
Link to comment from April 26, 2025
There are many stretches of I-95 where the average speed of the left lane traffic is over 80 miles an hour. The Mercedes was designed as an auto bond cruiser and can easily and safely do 120 miles an hour. All you have to do is touch the gas pedal on the E350 And you can be well over your intended speed quite quickly. There is no excuse for doing that speed, but it is very easy to do in the Mercedes. That is actually one of the reasons why I like the adaptive cruise control on the car, I don’t have to decide what speed the car travels at.
Post: Car talk- Quinn likes friendliness
Link to comment from April 19, 2025
I own a Mercedes E450, essentially the same car that you own, but with the six cylinder engine. I too like the convenience, comfort and mileage of the model, but the most important thing to me is the safety aspect. The car is giving me feedback on things when I try to do something stupid. It is not exactly a self driving car yet, but it is a car that will pay attention to what you’re doing and give you feedback when it thinks you are doing something wrong. You can still do the wrong thing if you want, but as I get older, I greatly appreciate the help from the car. I have owned several Mercedes E class cars and usually keep them about 11 years. However, as the technology continues to accelerate, and as I continue to get older, I may just have to look to replace more frequently. I have the money And my life has value. For those who look at the Mercedes and see nothing but $$$, remember the car also retains its value at resale. I sold one to a friend of mine several years ago and got almost what I paid for it. It only cost me about $700 a year in appreciation. He owned the car for four years, drove it 100,000 miles, and sold it for more than he paid me for it. Think of it as an asset that pays you in safety and comfort rather than in cash.
Post: Car talk- Quinn likes friendliness
Link to comment from April 19, 2025