MikeinLA

Comments:

• I lead an informal lunchtime discussion / training group at work. Usually, my colleagues and I talk about detailed job topics with an eye toward transferring info to junior folks. I'll be leaving my employment in a few weeks, though, so I spent the last session chatting about finances - pensions, 401k investments, health insurance, etc. It was fascinating to hear (a) how little my intelligent colleagues knew about their own financial situation and (b) how grateful they were to talk openly about these topics. The items on Jonathan's list - and what's discussed in most HD articles and forum topics - can be difficult for people to talk about. But they should. I'm grateful to the HD community for nudging me to help my friends at work. Oh, and I sent them all a link to Humbledollar.com. . .

  Post: Unasked Questions

  Link to comment from August 3, 2024

• Not sure I understand the Schwab hate. their index funds are essentially free too. i think their customer service (in person and on the phone) is great. I'm not unhappy to manually sweep funds to a money market fund occasionally. And I recently found out that Fidelity has a significantly higher account minimum amount for a pledged asset line of credit. Not consumer friendly at all.

  Post: Vanguard vs. Fidelity: When First Class Is Cheaper than Economy by Steve Abramowitz

  Link to comment from July 27, 2024

• I'm a huge fan of Costco, but I never use their credit card. There's no reason to wait a whole year for the rebate. I strongly prefer to use another Visa card at checkout that earns me immediate rewards or points I can transfer. Their wine / beer / liquor prices are generally half of retail. It's frustrating if you favor a specific brand that comes in or out stock, but can be a pleasant surprise if you find something you like.

  Post: Best/worst deals at Costco

  Link to comment from July 20, 2024

• I occasionally combine # 1 (small satellite position) and 7 (fun money) to buy a small position in a fund that is unique, offbeat, or interesting. This gives me a good reason to read investment articles, listen to podcasts, and generally stay involved in market developments. It also gives me an incentive to see whose advice I can rely on. But the key for me is keeping it small. . .

  Post: Off the Beaten Path

  Link to comment from July 14, 2024

• I serve as a trial court judge. Jury selection days are the most interesting part of my day. Like Jeff writes, folks get up early, drive for hours, have to deal with city life, and are often a bit resentful about being dragged into the court process. But something interesting usually happens pretty quickly. Most jurors take their role very seriously, and want to do the right thing in the case. People generally ask good questions, are diligent in showing up early, and give me great feedback about the process. And the lawyers/litigants who wanted their "day in court"? Particularly in civil cases, they become very dubious about how strong their claims are, and question why they've allowed a group of random strangers to make decisions about their careers, their business, or their injuries. Looking at a group of folks who couldn't get out of jury service is a strong incentive to settling cases.

  Post: Duty Calls

  Link to comment from July 6, 2024

• Totally with you on the benefits of consolidation. But there's also a benefit to some amount of account diversification. SIPC insurance will provide protection up to $500K per denominated account (your IRAs will be difference than IRAs, etc.) If you're over that limit, you might sleep better knowing that a second firm holds a considerable chunk of your assets. Similarly, a second reputable bank/brokerage can give you access to your funds if your first firm fails, has website or ATM problems, or changes policies on you. So, in my case, most of our assets are split between Schwab and Fidelity, with a bunch in the federal Thrift Savings Program waiting for me to hit 75.

  Post: All in One Place

  Link to comment from July 6, 2024

• Translation: Sometimes, good enough can be good enough. I agree with Dick that optimizing SSA withdrawals, investment allocations, withdrawal rates, etc. can be complicated - and unnecessarily stressful to get perfect. I'm ok with having made reasonably good plans, letting them play out, and focusing my day on living my life. Put me firmly on Team Quinn.

  Post: Confusing Ourselves

  Link to comment from June 8, 2024

• Buena suerte, jefe. On the same day that HD launched the impersonal AI article series, this moving statement was as honest and human as anything I've read on the site. Many thanks for sharing your thoughts.

  Post: My Death Odyssey

  Link to comment from May 25, 2024

• I understand the argument for renting a modern car for a long trip. But some of the safety features (cameras, blind spot protection, etc,) take a bit of getting used to. That happens when you use them every day in your regular life. How many times have I been confused by new controls and settings on a rental car in an airport parking lot? Too distracting. Buy a late model used car with the features you want and learn how to use and rely on them.

  Post: Delayed Reaction

  Link to comment from May 18, 2024

• Both sides of this make sense. Prosperous young people on a professional path (remote, white collar workers) enjoy the low taxes, cheap investing, et al. Low skill workers and tradespeople don’t. It’s not a political statement to observe that there are wealth / class imbalances in our society. Always have been, and - despite the Internet-for-carbon-paper change - likely always will be.

  Post: Youth May Triumph

  Link to comment from May 18, 2024