I am grateful that you continue to share your wisdom with us, Jonathan.
Unsurprisingly, I am in complete agreement with all you have written here.
Here's a little exercise that I've found useful. I think about, and make at least a mental list of, all the things that are decided for each one of us- on a life-long basis - when we are one-second-old. For but a few examples off the top of my head, the moment we become a diploid cell such things as who are parents will be (and all that entails), what ethnicity we will be, what if any illnesses we might be genetically susceptible to, what the limits of our attractiveness and body shape are likely to be, including our adult height, what socio-economic class we are almost certain to be raised in, not to mention whether we'll grow up in a democratic nation that fosters free enterprise or some far lesser environment.
All these things and more are part of our fates long before our brains can form a single thought or preference. The same is true for every living person and everyone who has ever lived.
Thinking along this line has brought me much greater humility and much greater compassion for virtually everyone, including the most difficult and maddening person of all - me.
Dennis, thank you for your fine thoughts here. So true, no doubt for us all, that often we find out who our real friends are or are not in unexpected ways. I hope your neighbor's son (just as I would wish for all young people) absorbs not just "what friends do," but that being a true friend brings even greater and more abiding pleasure than having a true friend.
As for the viciousness of so many young boys (and the term "mean girl" isn't for nothing!), that psychology has always been a mystery to me. I used to think maybe it had something to do with growing up in a small, mean, town, but I guess it's more universal than that.
Jonathan,
For quite a long time I've admired your work and learned from your writing. The wisdom and equanimity of your post today serves to multiply my admiration for you.
I look forward to continuing to learn from you and wish you and your family the very best of all available possibilities as you go forward!
It seems clear that Mr. Gartland and I both made the error of touching the realm of political viewpoint online, which, outside of red or blue like-thinking silos, seems never to produce anything but ill will and less understanding rather than more.
That entire issue is a terrible shame, but nothing that can be solved here. I apologize if I exacerbated the matter and detracted from the primary subject of Mr. Gartland's message.
The main point of the article is well-taken, and excellent advice for all young people, special needs or no. For my part, early on I so very much wanted to be a great (and professional) musician, and was unable to see that my goal was akin to a very short person wanting to play in the NBA. I ended up spending my work life in a lucrative but somewhat lonely career that didn't really suit my unrecognized needs for camaraderie and deeper relationships (long story). Given that personal experience I recommend that young people do three things. First, take time to best ensure your path matches not only your passions, but your demonstrated abilities, i.e., don't be a masochist while seeking a pie in the sky. Second, consider seeking a life / life's work where you will engage with others in a common, meaningful purpose and earn the real riches in life, which are loving relationships. Last, keep your eyes and ears open for one or more great mentors who will help guide you. (Btw, there's a great, now ended, series of podcasts called "The Oath" where mentorship is discussed a lot.) Regarding Mr. Gartland's "Republican" comment, maybe it was a little gratuitous, but I understand what he meant. Guess I won't get started down that road, except to note to the other commenter that H. Clinton's "deplorable" comment did not refer to half the country, but to half of Trump's supporters, who, in my view have been busy proving her correct ever since. Her full remarks, which almost nobody seems to know about, were much kinder and more supportive of the remainder of Trump supporters.
Accuracy and context is important, especially these days, is it not?
Fine reflections, Mr. Quinn, and congratulations to you and your wife!
Age does (often, anyway) allow wisdom doesn't it!
And as your words suggest, too, I think the essence of wisdom is humility and gratitude, and one other thing, which is the ability to imagine greater and smaller scales of time and distance than those we usually experience.
For example, with regard to our consideration of the degree to which we've managed to avoid bad / make good decisions, we might zoom out and consider how the time and circumstances of our births, and who are parents were, affected not only those abilities but the very presence of the choices before us. In (some of the possible) other words, of all the possible places and times in the history of humanity to be born, just being an American born in the 20th century alone (or combined with many other strokes of luck we can think of) was an incredible bit of good fortune. Wisdom allows gratitude for such things, no?
Apologies if I seem pedantic here - this is just a subject I've been thinking about a lot lately, and Mr. Quinn's essay got me going...
For many years I thought much as you apparently do now. I am greatly poorer for it.
It turns out, I've now learned painfully, that politics generally have little to no bearing on long-term capital markets, and when a correlation between politics and the markets can be seen, domestically or otherwise, things regularly go in the opposite direction to what might be expected.
The relevant question with an investment like VTWAX is whether or not capitalism will survive and whether the world economy will continue to function. If the answer is no, investments, whatever they are, will be the least of our worries.
Also, the word "lately" in your post indicates a perspective that might be troublesome to your financial future, but I'll go about my day now! Happy Easter!
As an only slightly more complicated alternative to VTWAX, what about holding a combination of VTSAX and VTIAX? This would allow choosing one's own ratio between US and international stocks, rather than the 40+% international holdings of VTWAX (a bit much for my own taste). Also, if the domestic side is a strong majority of the combination, the total expense ratio would be less than VTWAX, though perhaps not enough to make that aspect decisive. Last, the two fund combination would contain a significantly greater number of stocks, unless my interpretation of the Vanguard comparison tool is faulty.
But if utter simplicity still rules the day, I agree that VTWAX is primo!
A few things:
If you travel frequently, say in an RV around America, and you have an acute illness, wouldn't it be a comfort to have traditional Medicare and not need to worry about all the in or out of network business?
Second, how are insurance agents compensated for enrolling their clients in MA plans? When I wanted to move my father to traditional Medicare, the insurance agent who had handled his MA plan (an old church friend) became rather obnoxious...
The reason I wanted to change is that when my dad needed a specialist in the Dallas Fort Worth area, the only in-network specialist was 40 miles away.
As dad was in assisted living, it fell to me to travel from the East coast to take him to the specialist.
Last and separately, a number of years ago when I had UHC insurance through work, I was in an accident requiring many tests in an emergency facility. It took countless hours of calls, changing requirements, lost records by UHC, etc. to get any of the providers paid. Eventually, some just wrote off their losses and I paid much more than I should have. As you might imagine, especially having now had better experiences with BC/BS, I'll never touch UHC for anything again under any circumstances.
Comments:
I am grateful that you continue to share your wisdom with us, Jonathan. Unsurprisingly, I am in complete agreement with all you have written here. Here's a little exercise that I've found useful. I think about, and make at least a mental list of, all the things that are decided for each one of us- on a life-long basis - when we are one-second-old. For but a few examples off the top of my head, the moment we become a diploid cell such things as who are parents will be (and all that entails), what ethnicity we will be, what if any illnesses we might be genetically susceptible to, what the limits of our attractiveness and body shape are likely to be, including our adult height, what socio-economic class we are almost certain to be raised in, not to mention whether we'll grow up in a democratic nation that fosters free enterprise or some far lesser environment. All these things and more are part of our fates long before our brains can form a single thought or preference. The same is true for every living person and everyone who has ever lived. Thinking along this line has brought me much greater humility and much greater compassion for virtually everyone, including the most difficult and maddening person of all - me.
Post: Why We Struggle
Link to comment from January 4, 2025
Dennis, thank you for your fine thoughts here. So true, no doubt for us all, that often we find out who our real friends are or are not in unexpected ways. I hope your neighbor's son (just as I would wish for all young people) absorbs not just "what friends do," but that being a true friend brings even greater and more abiding pleasure than having a true friend. As for the viciousness of so many young boys (and the term "mean girl" isn't for nothing!), that psychology has always been a mystery to me. I used to think maybe it had something to do with growing up in a small, mean, town, but I guess it's more universal than that.
Post: What Friends Do
Link to comment from July 3, 2024
Jonathan, For quite a long time I've admired your work and learned from your writing. The wisdom and equanimity of your post today serves to multiply my admiration for you. I look forward to continuing to learn from you and wish you and your family the very best of all available possibilities as you go forward!
Post: The C Word
Link to comment from June 15, 2024
It seems clear that Mr. Gartland and I both made the error of touching the realm of political viewpoint online, which, outside of red or blue like-thinking silos, seems never to produce anything but ill will and less understanding rather than more. That entire issue is a terrible shame, but nothing that can be solved here. I apologize if I exacerbated the matter and detracted from the primary subject of Mr. Gartland's message.
Post: Do Who You Are
Link to comment from June 13, 2024
The main point of the article is well-taken, and excellent advice for all young people, special needs or no. For my part, early on I so very much wanted to be a great (and professional) musician, and was unable to see that my goal was akin to a very short person wanting to play in the NBA. I ended up spending my work life in a lucrative but somewhat lonely career that didn't really suit my unrecognized needs for camaraderie and deeper relationships (long story). Given that personal experience I recommend that young people do three things. First, take time to best ensure your path matches not only your passions, but your demonstrated abilities, i.e., don't be a masochist while seeking a pie in the sky. Second, consider seeking a life / life's work where you will engage with others in a common, meaningful purpose and earn the real riches in life, which are loving relationships. Last, keep your eyes and ears open for one or more great mentors who will help guide you. (Btw, there's a great, now ended, series of podcasts called "The Oath" where mentorship is discussed a lot.) Regarding Mr. Gartland's "Republican" comment, maybe it was a little gratuitous, but I understand what he meant. Guess I won't get started down that road, except to note to the other commenter that H. Clinton's "deplorable" comment did not refer to half the country, but to half of Trump's supporters, who, in my view have been busy proving her correct ever since. Her full remarks, which almost nobody seems to know about, were much kinder and more supportive of the remainder of Trump supporters. Accuracy and context is important, especially these days, is it not?
Post: Do Who You Are
Link to comment from June 12, 2024
Fine reflections, Mr. Quinn, and congratulations to you and your wife! Age does (often, anyway) allow wisdom doesn't it! And as your words suggest, too, I think the essence of wisdom is humility and gratitude, and one other thing, which is the ability to imagine greater and smaller scales of time and distance than those we usually experience. For example, with regard to our consideration of the degree to which we've managed to avoid bad / make good decisions, we might zoom out and consider how the time and circumstances of our births, and who are parents were, affected not only those abilities but the very presence of the choices before us. In (some of the possible) other words, of all the possible places and times in the history of humanity to be born, just being an American born in the 20th century alone (or combined with many other strokes of luck we can think of) was an incredible bit of good fortune. Wisdom allows gratitude for such things, no? Apologies if I seem pedantic here - this is just a subject I've been thinking about a lot lately, and Mr. Quinn's essay got me going...
Post: Luck Would Have It
Link to comment from May 25, 2024
For many years I thought much as you apparently do now. I am greatly poorer for it. It turns out, I've now learned painfully, that politics generally have little to no bearing on long-term capital markets, and when a correlation between politics and the markets can be seen, domestically or otherwise, things regularly go in the opposite direction to what might be expected. The relevant question with an investment like VTWAX is whether or not capitalism will survive and whether the world economy will continue to function. If the answer is no, investments, whatever they are, will be the least of our worries. Also, the word "lately" in your post indicates a perspective that might be troublesome to your financial future, but I'll go about my day now! Happy Easter!
Post: Totally Your Choice
Link to comment from March 31, 2024
Apparently, I'm a masochist. I actually enjoy rebalancing, and with more funds than two!
Post: Totally Your Choice
Link to comment from March 30, 2024
As an only slightly more complicated alternative to VTWAX, what about holding a combination of VTSAX and VTIAX? This would allow choosing one's own ratio between US and international stocks, rather than the 40+% international holdings of VTWAX (a bit much for my own taste). Also, if the domestic side is a strong majority of the combination, the total expense ratio would be less than VTWAX, though perhaps not enough to make that aspect decisive. Last, the two fund combination would contain a significantly greater number of stocks, unless my interpretation of the Vanguard comparison tool is faulty. But if utter simplicity still rules the day, I agree that VTWAX is primo!
Post: Totally Your Choice
Link to comment from March 30, 2024
A few things: If you travel frequently, say in an RV around America, and you have an acute illness, wouldn't it be a comfort to have traditional Medicare and not need to worry about all the in or out of network business? Second, how are insurance agents compensated for enrolling their clients in MA plans? When I wanted to move my father to traditional Medicare, the insurance agent who had handled his MA plan (an old church friend) became rather obnoxious... The reason I wanted to change is that when my dad needed a specialist in the Dallas Fort Worth area, the only in-network specialist was 40 miles away. As dad was in assisted living, it fell to me to travel from the East coast to take him to the specialist. Last and separately, a number of years ago when I had UHC insurance through work, I was in an accident requiring many tests in an emergency facility. It took countless hours of calls, changing requirements, lost records by UHC, etc. to get any of the providers paid. Eventually, some just wrote off their losses and I paid much more than I should have. As you might imagine, especially having now had better experiences with BC/BS, I'll never touch UHC for anything again under any circumstances.
Post: What Advantage?
Link to comment from March 28, 2024