It is reassuring to hear about mistakes and lessons learned. It makes me feel a little better that I am not the only one who made many mistakes along the way to finding out that simpler is better. For me the lessons learned like many of you were:
The most sure way to accrue resources is to SAVE, SAVE, SAVE. Live below your means but still enjoy life. Avoid debt at all costs.
Build core long term investments around low cost passively managed funds. Don't be to fancy or complicated: 2-4 funds should do it.
If I need the funds in the next year or two, money markets or CD's is the option. If definitely needed in 2-4 years bonds are a decent place to park it. Anything beyond 5 years in equity fund
Although I have bought into the idea that I should stick with funds rather than individual stocks, I get tempted by what I thing are attractive opportunities. Sometimes I feel a need to implement an investment idea that I think will do well over time: biotechnology, dividend growing companies, a well run company that has a moat but is underappreciated by the market. I hold firmly to the "only funds" strategy for my retirement finances. For my Roth which I intend not to spend from but to leave to my heirs, I still give in to these temptations but restrict these to less than 20% of the total. So far this has worked out well.
My last lesson is that it is very difficult to impart these lessons to my family. For them it seems like they have to go through their own cycle of mistakes.
Places that grow and develop human capital are attractive . Don't restrict investment to the domestic market. Over a 30-40 year period that my kids and grand kids will be investing places like India and Africa will experience growth and provide handsome returns if patient.
I imaging that if we asked your wife Elaine she would tell us that you are not perfect. I am also convinced that she and so many others would say you are a good person. That is special I especially appreciate your last comment because it is another example of what you do well, that is be the "adult in the room" when we as a communiity lose perspective. My prayer for you is that the remainder of your days are peaceful, that you let go of worries, and bath in the warmth of the love of your family and we your community.. Hold on tight. It has been and will be a hell of a ride.
Jonathan, As we all face up to our mortality and transition or passing you are a prime example of how to do it with grace and thoughtfulness. I have alway thought that each one of us will die just as we live, personality revisions and conversions are rare. As most of comments suggest when you depart from our presence you will leave behind a large host of people who will remember you with gratitude for having known you.
The discussion of SWR is confusing to me because the role and impact of the required minimum distribution is rarely noted as a problem or one of the factors that must be considered. Could someone explain why it might not be relevant?. What if the RMDD exceeds what you would need or want to withdraw? (It occurred to me that if I were a disciplined planner I could bank in a taxable account funds from the RMD.). What might be the effect on the sustainability of the portfolio if the market has a long sustained period of loss or very low returns. Would not high withdrawal rates required by RMD early on threaten one's ability to withdraw what is needed to live on in long term down markets? Would that not be a problem? .
To all the great ideas already posted I would add: Envy and and comparing ourselves to other are losing games. Comparing one's abilities, appearance, possessions and successes to others seems to be part of the human condition... but we only seem to compare ourselves to those we think are better off.(Psychologists call this upward comparisons..) Instead of envy, be joyful and take delight in the accomplishments of others and appreciate what you have and have done. that way you can't lose.
Comments
Thanks for your supportive comment. You are right that it may time for the lessons learned to manifest themselves. I will check out the Winker book.
Post: My Investing Journey, Just Do It
Link to comment from November 30, 2025
It is reassuring to hear about mistakes and lessons learned. It makes me feel a little better that I am not the only one who made many mistakes along the way to finding out that simpler is better. For me the lessons learned like many of you were:
Post: My Investing Journey, Just Do It
Link to comment from November 29, 2025
I imaging that if we asked your wife Elaine she would tell us that you are not perfect. I am also convinced that she and so many others would say you are a good person. That is special I especially appreciate your last comment because it is another example of what you do well, that is be the "adult in the room" when we as a communiity lose perspective. My prayer for you is that the remainder of your days are peaceful, that you let go of worries, and bath in the warmth of the love of your family and we your community.. Hold on tight. It has been and will be a hell of a ride.
Post: Health Update
Link to comment from September 10, 2025
Jonathan, As we all face up to our mortality and transition or passing you are a prime example of how to do it with grace and thoughtfulness. I have alway thought that each one of us will die just as we live, personality revisions and conversions are rare. As most of comments suggest when you depart from our presence you will leave behind a large host of people who will remember you with gratitude for having known you.
Post: Health Update
Link to comment from September 10, 2025
The discussion of SWR is confusing to me because the role and impact of the required minimum distribution is rarely noted as a problem or one of the factors that must be considered. Could someone explain why it might not be relevant?. What if the RMDD exceeds what you would need or want to withdraw? (It occurred to me that if I were a disciplined planner I could bank in a taxable account funds from the RMD.). What might be the effect on the sustainability of the portfolio if the market has a long sustained period of loss or very low returns. Would not high withdrawal rates required by RMD early on threaten one's ability to withdraw what is needed to live on in long term down markets? Would that not be a problem? .
Post: Is 4.7% the New 4% Safe Withdrawal Rate
Link to comment from August 26, 2025
To all the great ideas already posted I would add: Envy and and comparing ourselves to other are losing games. Comparing one's abilities, appearance, possessions and successes to others seems to be part of the human condition... but we only seem to compare ourselves to those we think are better off.(Psychologists call this upward comparisons..) Instead of envy, be joyful and take delight in the accomplishments of others and appreciate what you have and have done. that way you can't lose.
Post: Help Wanted
Link to comment from March 29, 2025