Winston, we do donate to food banks and housing non-profits. However, our efforts and those of many others is not sufficient to address the needs of others.
As a nation we need to move beyond the idea that those who are impoverished, in poor health, or unhoused are solely responsible for their circumstances. I was in born into a family of great privilege. Not in terms of fiscal assets as much as social capital. Family, education, and community were primary values that supported and shaped my career path (and that of my siblings). I had no hand in selecting the family and community into which I was born. My family did not experience great dislocation and poverty associated with plant closings, natural disasters, chronic disease or accidents. In the US, many who experience those events are up a creek with out a paddle unless they have family to assist them. Private, charitable organizations do not have the capacity to assist all who need assistance. In the Nordic countries and many other developed countries, government programs support individuals and families in dire straits. In the US we complain loudly about our tax burden and denigrate those who need public assistance. As R. Quinn noted earlier in this thread, the US is one of the lower taxed countries in the world.
The gap between the very wealthy and everyone else is wide and growing. Allowing very wealthy individuals to pay little or no tax because they fund their lifestyle by borrowing against their equities is gaming the system. My wife and I, retirees, are comfortable and have no worries about running out of money as we age. We would gladly pay additional taxes to ensure that there is more affordable housing and fewer people struggled from paycheck to paycheck. Yes, the top 10% pay 70% of the income taxes. They should be glad that they have enough to eat and have housing they can afford.
Children differ. What may work for some does not work for all. It sounds like your experience at boarding school and your separation from your parents was painful. Parents and teachers both have an obligation to listen and respond in thoughtful and engaging ways to children. Although I didn't attend boarding school, my early formal education involved three different strict parochial schools in three different states. I hated school and wanted to quit when my parents moved our family during my high school years. It was not until I attended university - with choices and relative freedom - that I discovered my love for learning.
I spent my early career teaching students who didn't like school and were often in trouble. Later I taught undergrads and grads who wanted to become teachers. All students deserve teachers who - like the one who took you under their wing - encourage and celebrate children. Thanks for sharing your story Andrew.
Another simple solution, available in 33 states plus DC, is a transfer on death deed (TOD). This document allows you to transfer your house or condo directly to your heirs when you pass. Like designating beneficiaries for IRAs, brokerage accounts, and bank accounts, setting up a TOD document avoids probate and is less complicated and expensive than setting up a trust.
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.
Comments
Winston, we do donate to food banks and housing non-profits. However, our efforts and those of many others is not sufficient to address the needs of others. As a nation we need to move beyond the idea that those who are impoverished, in poor health, or unhoused are solely responsible for their circumstances. I was in born into a family of great privilege. Not in terms of fiscal assets as much as social capital. Family, education, and community were primary values that supported and shaped my career path (and that of my siblings). I had no hand in selecting the family and community into which I was born. My family did not experience great dislocation and poverty associated with plant closings, natural disasters, chronic disease or accidents. In the US, many who experience those events are up a creek with out a paddle unless they have family to assist them. Private, charitable organizations do not have the capacity to assist all who need assistance. In the Nordic countries and many other developed countries, government programs support individuals and families in dire straits. In the US we complain loudly about our tax burden and denigrate those who need public assistance. As R. Quinn noted earlier in this thread, the US is one of the lower taxed countries in the world.
Post: Billionaires, taxes and you
Link to comment from May 28, 2026
The gap between the very wealthy and everyone else is wide and growing. Allowing very wealthy individuals to pay little or no tax because they fund their lifestyle by borrowing against their equities is gaming the system. My wife and I, retirees, are comfortable and have no worries about running out of money as we age. We would gladly pay additional taxes to ensure that there is more affordable housing and fewer people struggled from paycheck to paycheck. Yes, the top 10% pay 70% of the income taxes. They should be glad that they have enough to eat and have housing they can afford.
Post: Billionaires, taxes and you
Link to comment from May 27, 2026
Children differ. What may work for some does not work for all. It sounds like your experience at boarding school and your separation from your parents was painful. Parents and teachers both have an obligation to listen and respond in thoughtful and engaging ways to children. Although I didn't attend boarding school, my early formal education involved three different strict parochial schools in three different states. I hated school and wanted to quit when my parents moved our family during my high school years. It was not until I attended university - with choices and relative freedom - that I discovered my love for learning. I spent my early career teaching students who didn't like school and were often in trouble. Later I taught undergrads and grads who wanted to become teachers. All students deserve teachers who - like the one who took you under their wing - encourage and celebrate children. Thanks for sharing your story Andrew.
Post: The Boy Who Tried Hard: A Reflection
Link to comment from May 27, 2026
Another simple solution, available in 33 states plus DC, is a transfer on death deed (TOD). This document allows you to transfer your house or condo directly to your heirs when you pass. Like designating beneficiaries for IRAs, brokerage accounts, and bank accounts, setting up a TOD document avoids probate and is less complicated and expensive than setting up a trust.
Post: The Financial Stress a Simple Document Could Have Prevented
Link to comment from May 26, 2026
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