Fred Beck

Comments:

• Dick, perhaps $8 invested in a hammer (to gently tap them on the head!) could have provided an enormous return on investment. I’m sure there were times you contemplated it!

  Post: Confusing Ourselves

  Link to comment from June 8, 2024

• Keeping it simple is vital. If a financial vehicle is incomprehensible you’d best steer clear. Woody Guthrie was right, far more are robbed with a pen than a gun. As Dick notes, automatic deductions are so important. Maximizing deductions into tax deferred retirement accounts is such a no brainer. And if the market takes a hit, just don’t at your numbers for a few months and take comfort that you’re buying shares at a discounted rate. When it invariably recovers you will be very happy, and your future self will thank you. It’s a true tragedy that so many Americans focus solely on maximizing their take home pay. The stats on median and average savings in different age ranges are so disturbing.

  Post: Confusing Ourselves

  Link to comment from June 8, 2024

• Great story, Jeff! Your example perfectly illustrates the benefits of consistent contributions to a tax deferred retirement plan. And for the future well being of our nation‘s citizens, it’s a great thing that more organizations now take an “opt out” rather than “opt in” default approach. It’s nice to read a piece from a fellow Wolfpacker-I was right behind you as I attended from 75-78. I’m jealous you were there for the David Thompson era!

  Post: Rolling Right Along

  Link to comment from June 5, 2024

• As booch notes, people are indeed leaving the state due to dramatically rising homeowner’s insurance. A recent review also revealed that a substantial percentage of homeowner’s are opting to roll the dice and not insure their home. So after the next hurricane, you may see something very different a year or two after the storm!

  Post: Not Scared of Bears

  Link to comment from April 27, 2024

• Dr. Hannam, I certainly can relate to everything you are saying. I’m also a retired physician (primary care so I likely didn’t have as much to work with), and I also got the same advice regarding a home many years ago. We’ve been in the same moderately sized home in a nice neighborhood for 33 years now. This one and a modest vacation home have been mortgage free for years now, and I can’t put a price tag on the peace of mind that provided. My wife is also fiscally conservative and being on the same financial page with the spouse (and staying married) cannot be overestimated. I also share your approach to withdrawal rate. Ours is 2.6%, and the current plan is wait another 3 1/2 years for SS-I see no reason to start earlier. A major stock market correction would be the only thing that might alter that. I definitely understand Richard’s mindset and understanding that there may be a valid argument to make a few tweaks, but in the big scheme if it ain’t broke don’t fix it. Other priorities (time with friends and family, Silver Sneakers appointments,etc.) can certainly distract from making financial changes but that’s not always bad. But it’s a huge blessing to not have to obsess over every detail. Our professional lives were amply stressful, so I treasure the ability to keep things relatively simple.

  Post: He Asked, I Answered

  Link to comment from March 10, 2024

• 24 nuggets of great advice!

  Post: 24 Rules for 2024

  Link to comment from December 30, 2023

• I also fear that “anti-rich rhetoric” in the days ahead. And that Roths may not always be free of taxation. And regarding health I agree totally. If your health is terrible the size of your portfolio becomes fairly irrelevant. The finest medical care on earth can only do so much. And for so many maladies, our personal health habits are key factors in determining our physical well being, or lack thereof.

  Post: Longtime Worry

  Link to comment from December 27, 2023

• That is a fantastic article, and reflecting back so very true for my personal financial history. In one sense, I owe it all to the government (and of course allow me to explain!). When I was first able to generate income post secondary education it was the early 80‘s. Although I didn’t make much I was used to living on nearly nothing. So the IRA tax credit at the time as opposed to the revised tax deduction a couple of years later was just too tempting to pass up. Had that not existed perhaps I would have delayed buying mutual funds and stocks. Thanks Uncle Sam for that magnificent albeit brief enticement!

  Post: Don’t Trust Your Gut

  Link to comment from December 27, 2023

• I agree 100%. Gratefulness, and an “attitude of gratitude” are essential for happiness. I’ve always maintained if you cannot count your blessings you truly don’t have any. And sadly so many people are in that category and never find contentment. That was a fantastic article, and so vital in today’s ultra-competitive world.

  Post: Absolutely Fine

  Link to comment from September 23, 2023

• My work routine for years involved eating leftovers for lunch, basically out of necessity as I had no time to leave the premises. But it is staggering when you do a rough calculation of the economic savings over the years.

  Post: Going Bananas

  Link to comment from August 25, 2023