AUTHOR: Gary Klotz on 6/6/2026 FIRST: Michael1 on 6/6 | RECENT: DavidHLancaster on 6/8
Comments
The last time I commented on this topic in response to another post about this topic, I received negative reactions to my comments. But here I go again. We have never shared information about our income or net worth with either of our daughters — not while we were working and not since we retired in 2017. When, during middle school and high school, our daughters asked if we could afford something, my wife’s standard answer was that yes, we could. This is the third consecutive year in which we have made substantial monetary gifts to each of them. We have explained that the gifts are partial pre-payments of what they will eventually inherit. Our stated reason for the timing of the gifts is that it makes sense to give them money now when they may need it more, rather than for them to receive everything when we pass. Each daughter asked if we could afford these gifts without jeopardizing our retirement finances, and we answered that yes, we could. At some future date, we will change course and share more information, but we see no need to do that yet. Ultimately, each family has to handle this topic as it sees fit and in a way consistent with that family’s history.
Good point. In this situation, I viewed its comments and attitude as straightforward, analytic, and constructive, positive without becoming sycophantic.
Excellent article AliceMia’s social media post is another reason why I have no social
media accounts. Her position also reminds me of comments that I have heard over the years by people, even very successful professionals and entrepreneurs, that the stock market is just a “casino.” Bogdan explains the value of retirement plans very clearly, as usual.
To the amusement & puzzlement of my passengers, I turn off the stop/start and the driver monitoring system in my 2025 Subaru Legacy every single time I start the car. Otherwise, it is a great car.
Good and wise post. Yesterday we took two of the grandchildren to an amusement park. As I sat in a ride with my 6-year grandson seated next to me and holding my hand as we waited for the ride to start, I thought that this is great, and this is why I like being retired. A perfect moment at the wide end of that mirrored funnel.
I agree with both Greg’s post and your comment, Mark, except with regard to sneaking or “smuggling “ snacks into a movie theater, which, in my view, is a real cheapskate thing to do. I often go to a theater that gives a complimentary small bag of popcorn, but in other theaters, I simply skip the popcorn.
In a quote attributed to Charlie Munger, this principle was expressed as “don’t do something, just stand there” or words close to that. Good advice however it is phrased.
Comments
The last time I commented on this topic in response to another post about this topic, I received negative reactions to my comments. But here I go again. We have never shared information about our income or net worth with either of our daughters — not while we were working and not since we retired in 2017. When, during middle school and high school, our daughters asked if we could afford something, my wife’s standard answer was that yes, we could. This is the third consecutive year in which we have made substantial monetary gifts to each of them. We have explained that the gifts are partial pre-payments of what they will eventually inherit. Our stated reason for the timing of the gifts is that it makes sense to give them money now when they may need it more, rather than for them to receive everything when we pass. Each daughter asked if we could afford these gifts without jeopardizing our retirement finances, and we answered that yes, we could. At some future date, we will change course and share more information, but we see no need to do that yet. Ultimately, each family has to handle this topic as it sees fit and in a way consistent with that family’s history.
Post: Time to share our financial info with children?
Link to comment from June 6, 2026
Good point. In this situation, I viewed its comments and attitude as straightforward, analytic, and constructive, positive without becoming sycophantic.
Post: ChatGPT’s Portfolio Advice
Link to comment from June 6, 2026
Excellent article AliceMia’s social media post is another reason why I have no social media accounts. Her position also reminds me of comments that I have heard over the years by people, even very successful professionals and entrepreneurs, that the stock market is just a “casino.” Bogdan explains the value of retirement plans very clearly, as usual.
Post: Retirement Accounts
Link to comment from May 16, 2026
To the amusement & puzzlement of my passengers, I turn off the stop/start and the driver monitoring system in my 2025 Subaru Legacy every single time I start the car. Otherwise, it is a great car.
Post: HumbleDollar’s HumbleDrivers
Link to comment from May 13, 2026
Good and wise post. Yesterday we took two of the grandchildren to an amusement park. As I sat in a ride with my 6-year grandson seated next to me and holding my hand as we waited for the ride to start, I thought that this is great, and this is why I like being retired. A perfect moment at the wide end of that mirrored funnel.
Post: The Mirrored Funnel
Link to comment from May 10, 2026
Then enjoy your smuggled popcorn.
Post: Live a little
Link to comment from April 26, 2026
I agree with both Greg’s post and your comment, Mark, except with regard to sneaking or “smuggling “ snacks into a movie theater, which, in my view, is a real cheapskate thing to do. I often go to a theater that gives a complimentary small bag of popcorn, but in other theaters, I simply skip the popcorn.
Post: Live a little
Link to comment from April 26, 2026
Thanks. I went by recall and was a little off.
Post: Resist the Urge to Act
Link to comment from April 11, 2026
In a quote attributed to Charlie Munger, this principle was expressed as “don’t do something, just stand there” or words close to that. Good advice however it is phrased.
Post: Resist the Urge to Act
Link to comment from April 11, 2026
Thanks, Bogdan, for the clear, excellent post with helpful tips.
Post: Tax Efficiency
Link to comment from April 5, 2026