I play the credit card points "game" individually and through my sole proprietorship. I have over a dozen open credit cards - with no balance, and never any interest paid, of course. And, bizarrely, my credit score in well over 800 and has never been better. Absurd.
I've long agreed with Mr. Q that, despite financial concerns, the Social Security system was essentially stable. I also believed that, because the beneficiaries of SS benefits are older folks who are influential voters, Congress would act to avoid benefit cuts or wholesale negative changes to the program. But the recent apathy in Congress toward any thoughtful action - evidenced by no meaningful health care reform to assist an even broader constituency - is really problematic. Will Congress act on Social Security? Can Congress act? And if it does, will it be in a logical, helpful way? All questions that can't be answered today.
This is complicated. Who comes to a relationship from a background of privilege or poverty? Who is earning money or is reliant on their partner financially? Who has student / mortgage debt before or during the relationship? These issues are as divisive for couples as politics, religion, and other compatibility questions.
I have accounts at Schwab, Fidelity, and Wealthfront. All hold Vanguard funds. Don't be concerned about the contents of your accounts - all can buy publicly-traded funds. I qualified for a free meeting with a Schwab CFP and sat down with him last summer. No sales pitch at all - he really was speaking independently. I found it to be thoughtful and helpful. We discussed a variety of issues unrelated to the holdings at the brokerage (Social Security plans, umbrella insurance, etc.). It was worth doing to get the info and an outsider's advice. They didn't have authority to make changes to my accounts, of course. Go for it.
Like Mr. Quinn, I've also benefited from a federal employee pension and a defined contribution plan (the federal TSP, effectively a 401k). For younger employees to get the advantage of long-term investing, they need to start early and contribute a sizeable percentage of their pay to a 401k plan. That's tough for a lot of folks. And many people have difficulty wrapping their minds around issues like Roth v. traditional, employer matching programs, and how to allocate investments. If we don't have a paternal/parental system making decisions for people, I worry about folks mismanaging their future. Not all are at HD level of concern for their own finances.
I launched a consulting business after leaving my federal job recently. Umbrella coverage was a must. My local insurer (car, house) didn't offer a competitive policy, but national insurers did. Cost of the new business.
Seems like a no-brainer to escape a 401k trustee that someone else chose and move funds to a broker that I choose. Schwab / Fidelity / Vanguard are no-fee IRA custodians - just the expense on the underlying investment. They're SIPC insured, deal with retail customers all the time, and typically provide great service. The lawsuit protection discussed above feels like monsters-under-the-bed thinking. The only factor weighing against would be if there was something special and beneficial about the 401k itself. The federal Thrift Savings Plan (TSP) is extremely low cost and well run. I might leave some of my money there to diversify my accounts and RMD payments down the road. Also, if someone has taken a loan against a 401k balance, the loan would need to be repaid before converting to an IRA.
Former federal prosecutor here. I will never put mail into a blue box on the street. If I have to mail anything, I drive to the local post office and put it in the slot inside the facility. And I hope that there's no dirty USPS employee - usually seasonal hires - scraping through the mail looking for checks and cards. I use electronic payments as often as possible.
We're 59 and 65, I just left a public service position to work more independently. We're still in the upswing on our travel project. Four international trips in 2025 (one of our kids lives in Europe, so she's our excuse to visit and extend travel). And yes, we've upscaled our travel. Premium economy or, at least, extended leg room seats on international flights are now the new normal. We also look to rent larger AirBnbs for multi-night stays. We prefer to have a kitchen and bedroom with a door - let's us spread out and let each other sleep in.
Comments
I play the credit card points "game" individually and through my sole proprietorship. I have over a dozen open credit cards - with no balance, and never any interest paid, of course. And, bizarrely, my credit score in well over 800 and has never been better. Absurd.
Post: The Debt Free Penalty.
Link to comment from January 24, 2026
I've long agreed with Mr. Q that, despite financial concerns, the Social Security system was essentially stable. I also believed that, because the beneficiaries of SS benefits are older folks who are influential voters, Congress would act to avoid benefit cuts or wholesale negative changes to the program. But the recent apathy in Congress toward any thoughtful action - evidenced by no meaningful health care reform to assist an even broader constituency - is really problematic. Will Congress act on Social Security? Can Congress act? And if it does, will it be in a logical, helpful way? All questions that can't be answered today.
Post: Social Security is not going bankrupt, but that is not the full story
Link to comment from January 24, 2026
This is complicated. Who comes to a relationship from a background of privilege or poverty? Who is earning money or is reliant on their partner financially? Who has student / mortgage debt before or during the relationship? These issues are as divisive for couples as politics, religion, and other compatibility questions.
Post: Are you and your spouse synchronized?
Link to comment from January 17, 2026
I have accounts at Schwab, Fidelity, and Wealthfront. All hold Vanguard funds. Don't be concerned about the contents of your accounts - all can buy publicly-traded funds. I qualified for a free meeting with a Schwab CFP and sat down with him last summer. No sales pitch at all - he really was speaking independently. I found it to be thoughtful and helpful. We discussed a variety of issues unrelated to the holdings at the brokerage (Social Security plans, umbrella insurance, etc.). It was worth doing to get the info and an outsider's advice. They didn't have authority to make changes to my accounts, of course. Go for it.
Post: Schwab or Vanguard?
Link to comment from January 17, 2026
There are no commissions or sales fees on essentially any products at Schwab. Certainly, all mutual funds and ETFs trade fee-free.
Post: Schwab or Vanguard?
Link to comment from January 17, 2026
Like Mr. Quinn, I've also benefited from a federal employee pension and a defined contribution plan (the federal TSP, effectively a 401k). For younger employees to get the advantage of long-term investing, they need to start early and contribute a sizeable percentage of their pay to a 401k plan. That's tough for a lot of folks. And many people have difficulty wrapping their minds around issues like Roth v. traditional, employer matching programs, and how to allocate investments. If we don't have a paternal/parental system making decisions for people, I worry about folks mismanaging their future. Not all are at HD level of concern for their own finances.
Post: How do you really feel about 401k plans?
Link to comment from January 10, 2026
I launched a consulting business after leaving my federal job recently. Umbrella coverage was a must. My local insurer (car, house) didn't offer a competitive policy, but national insurers did. Cost of the new business.
Post: Asset Protection Ideas
Link to comment from January 10, 2026
Seems like a no-brainer to escape a 401k trustee that someone else chose and move funds to a broker that I choose. Schwab / Fidelity / Vanguard are no-fee IRA custodians - just the expense on the underlying investment. They're SIPC insured, deal with retail customers all the time, and typically provide great service. The lawsuit protection discussed above feels like monsters-under-the-bed thinking. The only factor weighing against would be if there was something special and beneficial about the 401k itself. The federal Thrift Savings Plan (TSP) is extremely low cost and well run. I might leave some of my money there to diversify my accounts and RMD payments down the road. Also, if someone has taken a loan against a 401k balance, the loan would need to be repaid before converting to an IRA.
Post: Consolidating 401(k)s in retirement
Link to comment from January 10, 2026
Former federal prosecutor here. I will never put mail into a blue box on the street. If I have to mail anything, I drive to the local post office and put it in the slot inside the facility. And I hope that there's no dirty USPS employee - usually seasonal hires - scraping through the mail looking for checks and cards. I use electronic payments as often as possible.
Post: The future of mail and how it affects finances
Link to comment from January 3, 2026
We're 59 and 65, I just left a public service position to work more independently. We're still in the upswing on our travel project. Four international trips in 2025 (one of our kids lives in Europe, so she's our excuse to visit and extend travel). And yes, we've upscaled our travel. Premium economy or, at least, extended leg room seats on international flights are now the new normal. We also look to rent larger AirBnbs for multi-night stays. We prefer to have a kitchen and bedroom with a door - let's us spread out and let each other sleep in.
Post: At what age did travel start feeling like work—and what changed your plan?
Link to comment from January 3, 2026