We moved into our condo after years of home ownership. The HOA experience has been eye opening. I reviewed the financial statements of the HOA prior to our purchase. I thought I knew what I was doing There were reserves. Were they sufficient? Contingent liabilities and deferred maintenance were not apparent. The owner of our unit had passed away before we purchased, and the heirs offered no meaningful disclosures. The condos were built about 30 years ago. We had an inspection done and minor issues were resolved. Less than a year after purchase, we attended the annual HOA meeting held at the end of our driveway. The major topic was a roof replacement that would require an assessment of $12000. The roofs had never been replaced. I wrote the check. I wasn't happy as if I had known about the projected assessment, I would have negotiated with the condo owner for a price reduction. Our monthly fees have increased, but costs do go up.
Good article to think through the financial advisor/client relationship. I am happy with my investments, look to the appropriate mix for my risk tolerance, desire to optimize taxes but continue to simplify my investments. What role does my advisor play? He is a sounding board and a source of ideas. He will step in when I am unavailable or incapable of executing, so he (and my wife) needs to know the direction we are headed. We don't do active management or market timing. We talk 2 or 3 times a year to keep in synch.
I would recommend you establish a relationship with an hourly fee advisor. Someone like Allan Roth of daretobedull.com. You pay for what you get, but is saving money everything? Peace of mind that your spouse has a good source of advice is very valuable.
Thanks for volunteering! I just finished my fourth year with AARP. Our normal client is over 70, widowed or divorced and female. We also have a few younger W-2 workers. My time is often spent navigating various cognitive or behavioral issues with the taxpayer. If it was just cranking out tax returns, I probably would not enjoy it. I'm seeing my repeat customers come back and tell me this year's story. Sometimes things have improved but some have fallen back with health issues or financial pressures. I'm ready to sign up for Year 5, but the winters are hard here in Michigan. I may need a snowbird season one day.
I’ve been maintaining my own bond ladder for about 15 years. A mixture of muni, corporate and CD’s that goes out 7 years. It has served me well in generating income and maintaining a strong anchor for my portfolio. I can foresee building a TIPs ladder as I prepare for RMD’s in a few years.
Thanks for the article. I am an AARP tax preparer and today this is out of scope for our preparers. I will give it a year to fully cook and see how the details pan out. My early read showed some conflicting instructions. Maybe it can be something I can consider for my grandkids.
I’ve used a DAF at Fidelity for about 15 years. No fees, $50 minimum gifts to charity and easily works with my other taxable investments at Fidelity. I use appreciated stocks to fund my DAF. I am not old enough for QCDs, yet, but the flexibility that the DAF gives me to make periodic or one-off gifts is a great advantage.
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I paid tuition, room and meal plan. Also, provided a car and insurance. Sons were in charge of incidentals from their summer job savings.
Post: How much to provide a college student monthly?
Link to comment from April 27, 2026
We moved into our condo after years of home ownership. The HOA experience has been eye opening. I reviewed the financial statements of the HOA prior to our purchase. I thought I knew what I was doing There were reserves. Were they sufficient? Contingent liabilities and deferred maintenance were not apparent. The owner of our unit had passed away before we purchased, and the heirs offered no meaningful disclosures. The condos were built about 30 years ago. We had an inspection done and minor issues were resolved. Less than a year after purchase, we attended the annual HOA meeting held at the end of our driveway. The major topic was a roof replacement that would require an assessment of $12000. The roofs had never been replaced. I wrote the check. I wasn't happy as if I had known about the projected assessment, I would have negotiated with the condo owner for a price reduction. Our monthly fees have increased, but costs do go up.
Post: The condo, HOA, senior citizen conundrum
Link to comment from April 20, 2026
Good article to think through the financial advisor/client relationship. I am happy with my investments, look to the appropriate mix for my risk tolerance, desire to optimize taxes but continue to simplify my investments. What role does my advisor play? He is a sounding board and a source of ideas. He will step in when I am unavailable or incapable of executing, so he (and my wife) needs to know the direction we are headed. We don't do active management or market timing. We talk 2 or 3 times a year to keep in synch.
Post: One Good Call?
Link to comment from April 14, 2026
I would recommend you establish a relationship with an hourly fee advisor. Someone like Allan Roth of daretobedull.com. You pay for what you get, but is saving money everything? Peace of mind that your spouse has a good source of advice is very valuable.
Post: Financial Planning
Link to comment from April 12, 2026
Thanks for volunteering! I just finished my fourth year with AARP. Our normal client is over 70, widowed or divorced and female. We also have a few younger W-2 workers. My time is often spent navigating various cognitive or behavioral issues with the taxpayer. If it was just cranking out tax returns, I probably would not enjoy it. I'm seeing my repeat customers come back and tell me this year's story. Sometimes things have improved but some have fallen back with health issues or financial pressures. I'm ready to sign up for Year 5, but the winters are hard here in Michigan. I may need a snowbird season one day.
Post: Taxes Season 3
Link to comment from April 12, 2026
Buy treasury bonds for the desired durations. Not funds.
Post: Tax Efficiency
Link to comment from April 5, 2026
I’ve been maintaining my own bond ladder for about 15 years. A mixture of muni, corporate and CD’s that goes out 7 years. It has served me well in generating income and maintaining a strong anchor for my portfolio. I can foresee building a TIPs ladder as I prepare for RMD’s in a few years.
Post: New to building a CD or Bond Ladder?
Link to comment from March 2, 2026
That was my dad’s favorite hobby after fishing.
Post: New to building a CD or Bond Ladder?
Link to comment from March 2, 2026
Thanks for the article. I am an AARP tax preparer and today this is out of scope for our preparers. I will give it a year to fully cook and see how the details pan out. My early read showed some conflicting instructions. Maybe it can be something I can consider for my grandkids.
Post: Trump Account
Link to comment from February 22, 2026
I’ve used a DAF at Fidelity for about 15 years. No fees, $50 minimum gifts to charity and easily works with my other taxable investments at Fidelity. I use appreciated stocks to fund my DAF. I am not old enough for QCDs, yet, but the flexibility that the DAF gives me to make periodic or one-off gifts is a great advantage.
Post: Why I use a Donor-Advised Fund
Link to comment from February 22, 2026