Completely agree on the T accounts. They're gimmicky, a work in progress, and colored in politics. I see no advantage in being an early adopter - these may change considerably in coming years. Little upside in investing blindly here.
I'm still working and self-employed at age 60. Wife just started Medicare / Part G / Part D / IRMAA this year. We pay a lot in premiums - but they're deductible against my business income on our tax return like traditional health insurance would be. So, the considerable cost is effectively knocked down about 35-40% (marginal tax rate for high-earning Californians). Yup, I ain't complaining about it. . . . too much.
Very helpful and practical. Quick question - where are you storing this money? I assume SSI and pensions are paid to a bank account, and the interest/dividends are in brokerage accts. Do you combine them into one account for the full "feel" of a paycheck? And then pay bills from that account? My paycheck issues are sort of the opposite. I recently left public service and launched a private mediation practice. Pension starts in five years, SSI in 7-10 years. So, when I get paid from the new business, I have to break that check into: estimated taxes; replenish cash reserve and pay bills; contribute to SEP IRA; and invest any remainder. Same monthly discipline as RDQ, but still on the earnings track.
Yup. I feel a bit proud when I talk to folks (young ones starting out, older folks ready to leave the workforce) about their plan. I tell them that I don't want their details, but that we should speak frankly about their approach to finances and planning. Too few do this one-on-one or with friends. The workplace outreach that you've described over the years is hugely important. Another important component is the direct discussion with people so that we know they understand. That's what HD has been for me, and I enjoy paying it forward. Don't be discouraged if some people are still a bit clueless. You can never get 100% of people to agree on anything. . .
The main benefit I've received from HD over the years is clear-eyed information about what's to come. I'm 59 years old, but I've become conversant with Social Security claiming strategies (age 62 / 67 / 70) from Mr. Quinn and others. I generally can quantify how much my wife will pay for Medicare and supplemental insurance - and the amount of the IRMAA discount / premium that we'll pay. And I give thought to which accounts I use to buy stock ETFs and bond funds to minimize taxes. But it all takes time. And effort. And, to modestly compliment the HD community, some amount of intelligence and sophistication. No surprise that the gist of RDQ's column above is that some folks don't put the time / effort / skill into figuring out these things until it may be too late. Yes, people are surprised by the amount they'll get from SSA. They shouldn't be.
There was a time when I would buy a t-shirt from a concert, sporting event, microbrewery, etc. that we visited. Then my wife pointed out that new shirts wouldn't fit in the dresser drawers. So, she imposed a form of salary cap - no new shirt in unless I threw an old one away. Nope. That stopped all future purchases. Now, I just save memories and photos of events instead of swag.
There was a similar article on Morningstar recently. It compared market cap SP500 funds with equal weight SP500 funds. Through various cycles, the returns essentially matched each other. There were times when the market cap concentration was profitable (tech runup, etc.), and there were times when owning the broad market was better.
My wife and I each had the coronary artery calcium test done a few years ago. We paid about $200 US out of pocket each. Unclear why insurance doesn't typically cover it. But it was worth it. Wife was completely fine, but I had a small amount of accumulated plaque. I started seeing a cardiologist for proactive treatment. What a great move. I'm now in much better control of my exercise, diet, blood pressure, and cholesterol (yea, statins!). I completely agree with the other HD comments that getting hard data and professional advice on these health matters is imperative as we grow older. Go for it.
Comments
Unintended consequences like encouraging a stock market selloff.
Post: Should Retirees Get a Temporary Flat Tax Window on IRA and 401(k) Withdrawals?
Link to comment from May 24, 2026
Completely agree on the T accounts. They're gimmicky, a work in progress, and colored in politics. I see no advantage in being an early adopter - these may change considerably in coming years. Little upside in investing blindly here.
Post: Saving for Grandchildren
Link to comment from May 9, 2026
I'm still working and self-employed at age 60. Wife just started Medicare / Part G / Part D / IRMAA this year. We pay a lot in premiums - but they're deductible against my business income on our tax return like traditional health insurance would be. So, the considerable cost is effectively knocked down about 35-40% (marginal tax rate for high-earning Californians). Yup, I ain't complaining about it. . . . too much.
Post: The reality of Social Security and Medicare- My real life experience.
Link to comment from May 9, 2026
Very helpful and practical. Quick question - where are you storing this money? I assume SSI and pensions are paid to a bank account, and the interest/dividends are in brokerage accts. Do you combine them into one account for the full "feel" of a paycheck? And then pay bills from that account? My paycheck issues are sort of the opposite. I recently left public service and launched a private mediation practice. Pension starts in five years, SSI in 7-10 years. So, when I get paid from the new business, I have to break that check into: estimated taxes; replenish cash reserve and pay bills; contribute to SEP IRA; and invest any remainder. Same monthly discipline as RDQ, but still on the earnings track.
Post: The never ending payday
Link to comment from May 9, 2026
Yup. I feel a bit proud when I talk to folks (young ones starting out, older folks ready to leave the workforce) about their plan. I tell them that I don't want their details, but that we should speak frankly about their approach to finances and planning. Too few do this one-on-one or with friends. The workplace outreach that you've described over the years is hugely important. Another important component is the direct discussion with people so that we know they understand. That's what HD has been for me, and I enjoy paying it forward. Don't be discouraged if some people are still a bit clueless. You can never get 100% of people to agree on anything. . .
Post: “We did everything right.” Maybe not. Retirement income should not be an unpleasant surprise.
Link to comment from April 11, 2026
The main benefit I've received from HD over the years is clear-eyed information about what's to come. I'm 59 years old, but I've become conversant with Social Security claiming strategies (age 62 / 67 / 70) from Mr. Quinn and others. I generally can quantify how much my wife will pay for Medicare and supplemental insurance - and the amount of the IRMAA discount / premium that we'll pay. And I give thought to which accounts I use to buy stock ETFs and bond funds to minimize taxes. But it all takes time. And effort. And, to modestly compliment the HD community, some amount of intelligence and sophistication. No surprise that the gist of RDQ's column above is that some folks don't put the time / effort / skill into figuring out these things until it may be too late. Yes, people are surprised by the amount they'll get from SSA. They shouldn't be.
Post: “We did everything right.” Maybe not. Retirement income should not be an unpleasant surprise.
Link to comment from April 11, 2026
There was a time when I would buy a t-shirt from a concert, sporting event, microbrewery, etc. that we visited. Then my wife pointed out that new shirts wouldn't fit in the dresser drawers. So, she imposed a form of salary cap - no new shirt in unless I threw an old one away. Nope. That stopped all future purchases. Now, I just save memories and photos of events instead of swag.
Post: When Your Pastime Takes Ownership
Link to comment from March 7, 2026
There was a similar article on Morningstar recently. It compared market cap SP500 funds with equal weight SP500 funds. Through various cycles, the returns essentially matched each other. There were times when the market cap concentration was profitable (tech runup, etc.), and there were times when owning the broad market was better.
Post: Sector Fund by Stealth
Link to comment from March 7, 2026
Oh, just slip out the back, Jack.
Post: Fifty Ways
Link to comment from February 21, 2026
My wife and I each had the coronary artery calcium test done a few years ago. We paid about $200 US out of pocket each. Unclear why insurance doesn't typically cover it. But it was worth it. Wife was completely fine, but I had a small amount of accumulated plaque. I started seeing a cardiologist for proactive treatment. What a great move. I'm now in much better control of my exercise, diet, blood pressure, and cholesterol (yea, statins!). I completely agree with the other HD comments that getting hard data and professional advice on these health matters is imperative as we grow older. Go for it.
Post: Joining the Club, Maybe?
Link to comment from February 21, 2026