Charles Dickens said it well; "Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."
IMO, what happened in 2007/08 was not a normal stock market downturn or business cycle thing. What happened after the dot.com boom in 2001 was one of those. I'll use Mark's abbreviation, the GFC, was the result of criminal activity. And none of those responsible went to prison for causing the GFC. And that is a shame.
I do have a "First Steps" document for my wife, who I am fairly certain will outlive me. Its with my passwords, she knows where to find it. As far as books go, by far my favorite book on investing is "A Random Walk Down Wall Street." I wish I had found that one when I was 20. All of my four kids got a copy when they graduated from college. I hope to see a grandchild old enough so I can give them a copy as well. Now on its 13th edition.
I got laid off at 58 because was collecting way too many stock grants (hand me downs from previous mergers). It was scary because of health care coverage and not being able to fully pull on my IRA/Roth accounts yet. So I found another job after 3 months. I fully retired last year. In retrospect, I could have retired at that time, but I thoroughly enjoyed the last job and stopped on my terms.
I can assure that the situation with Pine Needles is even worse, as they never stop falling. You can rake them all up and all you need is a moderate breeze and the ground is covered again. The 60+ foot pine trees in my front yard may be at the end of their usefulness!
I can recall the Radio show from the 80s-90s, Bob Brinker's "Money Talk" - he would recommend gold mining stocks, if you were inclined to go that direction. Produces a dividend (typically) and is easy to buy and sell. I wound up buying a copper mining stock in the early 2000s that has done quite well and produced a lot of dividends over the years.
My wife and I are in the middle of this right now. We have decided to delay my SS (I am the higher earner) until 70, and we started hers at 64 (about a year ago). We are spending down some accounts to tide us over until my SS starts. I look at SS at 70 as longevity insurance. My Dad is almost 92 and my Mother-in-law is approaching 91. My bet is at least one of us makes it to that point. I hate seeing money fly out of our accounts, but I am trusting the math.
Comments
Charles Dickens said it well; "Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."
Post: If you have done well, be proud.
Link to comment from February 21, 2026
IMO, what happened in 2007/08 was not a normal stock market downturn or business cycle thing. What happened after the dot.com boom in 2001 was one of those. I'll use Mark's abbreviation, the GFC, was the result of criminal activity. And none of those responsible went to prison for causing the GFC. And that is a shame.
Post: Financial Trauma
Link to comment from February 14, 2026
I do have a "First Steps" document for my wife, who I am fairly certain will outlive me. Its with my passwords, she knows where to find it. As far as books go, by far my favorite book on investing is "A Random Walk Down Wall Street." I wish I had found that one when I was 20. All of my four kids got a copy when they graduated from college. I hope to see a grandchild old enough so I can give them a copy as well. Now on its 13th edition.
Post: Your two best investing books—and do you also keep an End-of-Life “family binder”?
Link to comment from January 26, 2026
I got laid off at 58 because was collecting way too many stock grants (hand me downs from previous mergers). It was scary because of health care coverage and not being able to fully pull on my IRA/Roth accounts yet. So I found another job after 3 months. I fully retired last year. In retrospect, I could have retired at that time, but I thoroughly enjoyed the last job and stopped on my terms.
Post: Bracing for the Worst
Link to comment from January 25, 2026
I can assure that the situation with Pine Needles is even worse, as they never stop falling. You can rake them all up and all you need is a moderate breeze and the ground is covered again. The 60+ foot pine trees in my front yard may be at the end of their usefulness!
Post: Four People, One Stupid Observation
Link to comment from November 22, 2025
I can recall the Radio show from the 80s-90s, Bob Brinker's "Money Talk" - he would recommend gold mining stocks, if you were inclined to go that direction. Produces a dividend (typically) and is easy to buy and sell. I wound up buying a copper mining stock in the early 2000s that has done quite well and produced a lot of dividends over the years.
Post: What About Gold?
Link to comment from June 7, 2025
My wife and I are in the middle of this right now. We have decided to delay my SS (I am the higher earner) until 70, and we started hers at 64 (about a year ago). We are spending down some accounts to tide us over until my SS starts. I look at SS at 70 as longevity insurance. My Dad is almost 92 and my Mother-in-law is approaching 91. My bet is at least one of us makes it to that point. I hate seeing money fly out of our accounts, but I am trusting the math.
Post: Buying an Annuity from the SSA
Link to comment from May 3, 2025
Write a version of the article for Humble Dollar, and aim it at general folks like me. That would be a service to us all.
Post: Buying an Annuity from the SSA
Link to comment from May 3, 2025
1. 5.8% 2. 7% 3. Yes 4. 3200 5. 9000 6. Yes 7. Yes 8. 5.5%
Post: How’s Your Crystal Ball?
Link to comment from April 6, 2025
Mine is held by Empower, which is owned by Great West Financial, an insurance company. We will part ways as soon as I retire. Good riddance.
Post: Love, Hate and My 401(k)
Link to comment from December 7, 2024