When my oldest and now 38 year old son was in high school he asked me why I didn't drive a nicer car. "You could afford it dad." (At the time I was driving a 6-year-old VW Passat.) I gently explained to him that I chose to drive the car I did so that there would be money available to help pay college tuition for him and his two younger siblings. Now, more than twenty years later, He's a dad who drives a 6 year old car as he plans for his daughter's future. While it was not my intent at the time to teach him about the value of deferred gratification or the importance of considering the impact of choices he makes, it appears to have had a lasting effect. (In retirement I bought a very comfortable EV, not top of the line but very nice.)
My wife and I both have 403(b) accounts as well as a brokerage and Roth accounts with Fidelity. About 10 years ago - five years before retirement - after consulting with a good friend who later introduced me to HD, I began managing our portfolio w/o an advisor. We're saving about 25k/ in advisory fees and Fidelity does a no-cost review of our portfolio each year. Our portfolio is diversified ETFs and mutual funds. For better or worse (after 40 yrs mostly better) I manage all of our retirement and brokerage funds. I keep my wife well informed, I do not actively trade, and this works for us.
The IRS could make it much easier to file taxes. The Nordic countries especially have a system that makes it easier and less painful to file. A web search provided this description: Tax filing in Nordic countries (Sweden, Norway, Finland, Denmark, Iceland) is highly digitized, efficient, and user-friendly, often requiring little more than verifying pre-filled, online, or text-message-based tax returns. Employers and banks report data directly to tax authorities, allowing many citizens to simply approve their assessment by early spring deadlines.
TurboTax (which I use to file) and other forces that profit from the current inefficient system lobby to maintain the status quo. Simultaneously, corporate tax attorneys lobby to ensure favored loopholes and exemptions are preserved for the wealthy and privileged. We could do things differently but there is no appetite among our wealthy representatives in Congress to do so.
I like your perspective Greg. Understanding the nature of the work, product, or service and striving to do one's best speaks to personal integrity and satisfaction. Whatever our occupation, staying focused on delivering excellence for our clients or employers can yield the unanticipated outcomes you described. Thanks for reminding us to stay focused on what matters. I'm retired now after 40+ years in my industry working primarily for a state agency. I too was/am pleased at my financial security in retirement.
We relocated in Maine after working and raising three children in Maryland over 40 years. Maine is a place where we've vacationed often over the years and we have many favorite places to hike and explore. Prior to the move we had no close friends in Maine, just a few acquaintances. We are very happy that we made the move. Our 28 year old and 35 year old children - still in Maryland and still single - visit us 3 or 4 times each year. They love coming up to ski in the winter and hike and boat in the summer and fall. Our oldest, his wife, and our granddaughter live in California but have managed to visit for two or three weeks each year since we moved here. During the past two years we've visited them twice each year. Our eldest and his wife both work remotely and are planning on visiting for three weeks in September and have indicated that they might relocate in New England, possibly in Maine. We knew some time ago that we did not want to retire in Maryland. As much as we love the state and have lots of friends there, we wanted a slower pace of life and easier access to outdoor recreation. If I had to do things over again, we would have begun the process of planning the move several years earlier. After retiring at the end of 2020, we took about 2 1/2 years before settling on a community and purchasing the condo we live in. The cost living here is slightly lower than in the DC metro area (aka the DMV) and we're glad we made the move.
Frankly, many seniors, my wife and I included, do not need an additional $6000 "bonus" deduction. In general, paying less taxes is better than more taxes. However, as the gap between the haves and the have nots widens in the US, I fear for the long-term impact of the recently enacted tax cuts on the viability of social security and the ability of low income people to access health care. I would rather pay more in taxes to enable the government to subsidize low income housing, build more affordable housing, and provide support to young families and children. As one of the wealthiest nations on the planet, it is shameful that so many of our children go hungry and that their most reliable meals are served at school and in afterschool programs.
Do most seniors in retirement earning above the median income for their age group need an additional $6000 bonus deduction?
I agree Nick. In most developed countries the tax code is simpler and, in my estimation, more equitable. Intuit, the company that sells TurboTax, the Uber wealthy, and others have no interest in simplifying the tax code.
Linking student academic performance to $$ spent on education is like linking $$ spent on dental care to oral care. Children come from families that vary widely in their ability to support their children's academic growth (and provide dental care). Poverty and family mobility contribute to challenges children face. Not all children start school at the same readiness level. Not all children see their dentist with good oral hygiene practices. Education, public education, historically has been the great equalizer - starting in the 1870s - in our (US) society. As a retired educator who has no children in school, I willing pay taxes. It's good for America!
Comments
When my oldest and now 38 year old son was in high school he asked me why I didn't drive a nicer car. "You could afford it dad." (At the time I was driving a 6-year-old VW Passat.) I gently explained to him that I chose to drive the car I did so that there would be money available to help pay college tuition for him and his two younger siblings. Now, more than twenty years later, He's a dad who drives a 6 year old car as he plans for his daughter's future. While it was not my intent at the time to teach him about the value of deferred gratification or the importance of considering the impact of choices he makes, it appears to have had a lasting effect. (In retirement I bought a very comfortable EV, not top of the line but very nice.)
Post: Choices, choices everywhere
Link to comment from February 15, 2026
People with concrete ideas are mixed up and set in their ways. (Only contribution I can make to this discussion.)
Post: Yes, I am a NIIT wit
Link to comment from February 13, 2026
My wife and I both have 403(b) accounts as well as a brokerage and Roth accounts with Fidelity. About 10 years ago - five years before retirement - after consulting with a good friend who later introduced me to HD, I began managing our portfolio w/o an advisor. We're saving about 25k/ in advisory fees and Fidelity does a no-cost review of our portfolio each year. Our portfolio is diversified ETFs and mutual funds. For better or worse (after 40 yrs mostly better) I manage all of our retirement and brokerage funds. I keep my wife well informed, I do not actively trade, and this works for us.
Post: The High Cost of Financial Advice: A Tale of Two Portfolios Revisited
Link to comment from February 6, 2026
The IRS could make it much easier to file taxes. The Nordic countries especially have a system that makes it easier and less painful to file. A web search provided this description: Tax filing in Nordic countries (Sweden, Norway, Finland, Denmark, Iceland) is highly digitized, efficient, and user-friendly, often requiring little more than verifying pre-filled, online, or text-message-based tax returns. Employers and banks report data directly to tax authorities, allowing many citizens to simply approve their assessment by early spring deadlines. TurboTax (which I use to file) and other forces that profit from the current inefficient system lobby to maintain the status quo. Simultaneously, corporate tax attorneys lobby to ensure favored loopholes and exemptions are preserved for the wealthy and privileged. We could do things differently but there is no appetite among our wealthy representatives in Congress to do so.
Post: Tax Filing (A Teeny Tiny Rant)
Link to comment from February 2, 2026
I like your perspective Greg. Understanding the nature of the work, product, or service and striving to do one's best speaks to personal integrity and satisfaction. Whatever our occupation, staying focused on delivering excellence for our clients or employers can yield the unanticipated outcomes you described. Thanks for reminding us to stay focused on what matters. I'm retired now after 40+ years in my industry working primarily for a state agency. I too was/am pleased at my financial security in retirement.
Post: Success, from another angle
Link to comment from January 25, 2026
We've found that property taxes are slightly higher but the additional expense is well worth it.
Post: Let’s revisit the pros and cons of relocating upon retirement
Link to comment from July 31, 2025
We relocated in Maine after working and raising three children in Maryland over 40 years. Maine is a place where we've vacationed often over the years and we have many favorite places to hike and explore. Prior to the move we had no close friends in Maine, just a few acquaintances. We are very happy that we made the move. Our 28 year old and 35 year old children - still in Maryland and still single - visit us 3 or 4 times each year. They love coming up to ski in the winter and hike and boat in the summer and fall. Our oldest, his wife, and our granddaughter live in California but have managed to visit for two or three weeks each year since we moved here. During the past two years we've visited them twice each year. Our eldest and his wife both work remotely and are planning on visiting for three weeks in September and have indicated that they might relocate in New England, possibly in Maine. We knew some time ago that we did not want to retire in Maryland. As much as we love the state and have lots of friends there, we wanted a slower pace of life and easier access to outdoor recreation. If I had to do things over again, we would have begun the process of planning the move several years earlier. After retiring at the end of 2020, we took about 2 1/2 years before settling on a community and purchasing the condo we live in. The cost living here is slightly lower than in the DC metro area (aka the DMV) and we're glad we made the move.
Post: Let’s revisit the pros and cons of relocating upon retirement
Link to comment from July 30, 2025
Frankly, many seniors, my wife and I included, do not need an additional $6000 "bonus" deduction. In general, paying less taxes is better than more taxes. However, as the gap between the haves and the have nots widens in the US, I fear for the long-term impact of the recently enacted tax cuts on the viability of social security and the ability of low income people to access health care. I would rather pay more in taxes to enable the government to subsidize low income housing, build more affordable housing, and provide support to young families and children. As one of the wealthiest nations on the planet, it is shameful that so many of our children go hungry and that their most reliable meals are served at school and in afterschool programs. Do most seniors in retirement earning above the median income for their age group need an additional $6000 bonus deduction?
Post: Increased Deduction for Seniors
Link to comment from July 5, 2025
I agree Nick. In most developed countries the tax code is simpler and, in my estimation, more equitable. Intuit, the company that sells TurboTax, the Uber wealthy, and others have no interest in simplifying the tax code.
Post: Like it or not, we all need to pay taxes. Seniors are no exception
Link to comment from March 17, 2025
Linking student academic performance to $$ spent on education is like linking $$ spent on dental care to oral care. Children come from families that vary widely in their ability to support their children's academic growth (and provide dental care). Poverty and family mobility contribute to challenges children face. Not all children start school at the same readiness level. Not all children see their dentist with good oral hygiene practices. Education, public education, historically has been the great equalizer - starting in the 1870s - in our (US) society. As a retired educator who has no children in school, I willing pay taxes. It's good for America!
Post: Like it or not, we all need to pay taxes. Seniors are no exception
Link to comment from March 17, 2025