AUTHOR: Howard Schwartz on 8/21/2025 FIRST: Mark Crothers on 8/21 | RECENT: Mark Crothers on 8/21
Comments
I like your approach, Mark. Something is always on sale in the financial markets. I have been buying value stocks for years for the same reasons you mention, and it has paid off handsomely and I get dividends which I reinvest. Long-term thinking and flexibility separates investors from traders.
I would like to thank everyone reading this who has contributed 1.45% (or in some cases 2.9%) or your earnings to Medicare. I suffer from blood cancer and the lifesaving medicine I take every day, Zanubrutinib, costs $14,750 each month. (That dollar amount is not a typo) I pay $2,000 annually for the Rx which is not available at CVS or COSTCO. Of course, Zanubrutinib costs much less in Canada or Europe due to our crazy politics where the pharma industry makes lots of money and uses some of it to legally bribe our legislators to pass laws that prohibit Medicare from demanding lower prices. Some other expensive drugs are allowed to be bargained for, but my Rx is not on the short list. We should not complain about drug costs unless we elect different representatives who look out for us instead of looking out for big pharma.
My niece in California attended community college for two years, did well then graduated from UC Berkeley with zero debt. A couple of years of community college saves big money and the final diploma from the four-year university is identical.
I was with Liberty Mutual for 30 years until they sent me a 40% renewal increase. When I called, a rep named Victor said "you should find another insurer". Loyalty is over.
When my wife and I were planning our retirement, I bought software and no matter which assumptions I used the results were so similar it did not matter when we started SS. So, since we had similar earning histories, I collected at 67 and she delayed to 70. We were both born before 1954, so she was able to collect half of my benefit for three years and then upgrade to her own larger benefit at 70. It worked for us because my health deteriorated after I started collecting and I at least got those three extra years of payments. Bill Bernstein is correct; life throughs you knuckle balls sometimes.
TIAA allows participants to do it either way. If they contribute each pay period over their employment, TIAA will release surplus reserves and increase the employee's pension check. This increase happens in about half of the years. Only Social Security is a better deal.
My wife retired from TIAA which has been offering defined contribution plan annuities in the retirement plans they administer since 1918. Covering your fixed expenses with guaranteed income every month is a blessing. Every plan should offer it.
You do not need any subscriptions that you have to pay for. Just read anything by Larry Swedroe, Wade Pfau and Michael Kitces and you will be all set. You can add Christine Benz as well.
My wife and I are in our early 70s and meet monthly for a complete portfolio review. We use E-money provided by Fidelity so we can see everything in one place including accounts at other institutions. We only rebalance if percentages move by 10% from our baseline which sometimes does not happen for several years and sometimes happens every month. We have multiple account types so buy or sell in the accounts that make the most tax sense usually. It works for us as it minimizes anxiety over risk.
My wife and I used to have Vanguard accounts and put up with their terrible customer service for many years because of the low investment fees. The strange thing that finally caused us to go to Fidelity and Schwab where the service is very good concerns a Coverdell IRA I opened for our daughter in the early 1990s. I opened the account, contributed $2,000 and promptly forgot about it, (we were busy, I guess). Over 20 years went by without any communication from Vanguard about the account until my daughter was in graduate school and I received a letter in the mail. The letter asked if we wanted to use the account to pay for our daughter's education or do something else with the $3,500 the account was now worth. I called and asked how they could have an account where they did not contact me for over 20 years and never got an answer. My daughter was of course delighted as she needed a new computer and some other education related items that allowed her to spend the money without paying taxes. That was the end for Vanguard. We now are pleased with our Fidelity and Schwab accounts where we use some Vanguard ETFs. I do not hold a grudge.
Comments
I like your approach, Mark. Something is always on sale in the financial markets. I have been buying value stocks for years for the same reasons you mention, and it has paid off handsomely and I get dividends which I reinvest. Long-term thinking and flexibility separates investors from traders.
Post: Becoming A “Bad Investor”
Link to comment from December 17, 2025
I would like to thank everyone reading this who has contributed 1.45% (or in some cases 2.9%) or your earnings to Medicare. I suffer from blood cancer and the lifesaving medicine I take every day, Zanubrutinib, costs $14,750 each month. (That dollar amount is not a typo) I pay $2,000 annually for the Rx which is not available at CVS or COSTCO. Of course, Zanubrutinib costs much less in Canada or Europe due to our crazy politics where the pharma industry makes lots of money and uses some of it to legally bribe our legislators to pass laws that prohibit Medicare from demanding lower prices. Some other expensive drugs are allowed to be bargained for, but my Rx is not on the short list. We should not complain about drug costs unless we elect different representatives who look out for us instead of looking out for big pharma.
Post: Affordable is an interesting word – especially related to healthcare
Link to comment from December 17, 2025
My niece in California attended community college for two years, did well then graduated from UC Berkeley with zero debt. A couple of years of community college saves big money and the final diploma from the four-year university is identical.
Post: $92,000 a year is quite an investment. The ROI is real, but maybe not.
Link to comment from December 11, 2025
I was with Liberty Mutual for 30 years until they sent me a 40% renewal increase. When I called, a rep named Victor said "you should find another insurer". Loyalty is over.
Post: Home, Auto & Umbrella Insurance—“Longevity Benefit”?
Link to comment from December 8, 2025
When my wife and I were planning our retirement, I bought software and no matter which assumptions I used the results were so similar it did not matter when we started SS. So, since we had similar earning histories, I collected at 67 and she delayed to 70. We were both born before 1954, so she was able to collect half of my benefit for three years and then upgrade to her own larger benefit at 70. It worked for us because my health deteriorated after I started collecting and I at least got those three extra years of payments. Bill Bernstein is correct; life throughs you knuckle balls sometimes.
Post: Are the actuarial assumptions regarding benefit neutrality still accurate?
Link to comment from December 8, 2025
TIAA allows participants to do it either way. If they contribute each pay period over their employment, TIAA will release surplus reserves and increase the employee's pension check. This increase happens in about half of the years. Only Social Security is a better deal.
Post: The annuities are coming, the annuities are coming‼️
Link to comment from December 4, 2025
My wife retired from TIAA which has been offering defined contribution plan annuities in the retirement plans they administer since 1918. Covering your fixed expenses with guaranteed income every month is a blessing. Every plan should offer it.
Post: The annuities are coming, the annuities are coming‼️
Link to comment from December 4, 2025
You do not need any subscriptions that you have to pay for. Just read anything by Larry Swedroe, Wade Pfau and Michael Kitces and you will be all set. You can add Christine Benz as well.
Post: What are the financial subscriptions you believe are worth it for yourself and would recommend to others?
Link to comment from December 3, 2025
My wife and I are in our early 70s and meet monthly for a complete portfolio review. We use E-money provided by Fidelity so we can see everything in one place including accounts at other institutions. We only rebalance if percentages move by 10% from our baseline which sometimes does not happen for several years and sometimes happens every month. We have multiple account types so buy or sell in the accounts that make the most tax sense usually. It works for us as it minimizes anxiety over risk.
Post: How do Couples Rebalance with Multiple Accounts
Link to comment from October 29, 2025
My wife and I used to have Vanguard accounts and put up with their terrible customer service for many years because of the low investment fees. The strange thing that finally caused us to go to Fidelity and Schwab where the service is very good concerns a Coverdell IRA I opened for our daughter in the early 1990s. I opened the account, contributed $2,000 and promptly forgot about it, (we were busy, I guess). Over 20 years went by without any communication from Vanguard about the account until my daughter was in graduate school and I received a letter in the mail. The letter asked if we wanted to use the account to pay for our daughter's education or do something else with the $3,500 the account was now worth. I called and asked how they could have an account where they did not contact me for over 20 years and never got an answer. My daughter was of course delighted as she needed a new computer and some other education related items that allowed her to spend the money without paying taxes. That was the end for Vanguard. We now are pleased with our Fidelity and Schwab accounts where we use some Vanguard ETFs. I do not hold a grudge.
Post: Disappointed (and annoyed) with Vanguard.
Link to comment from October 22, 2025