AUTHOR: Howard Schwartz on 8/21/2025 FIRST: Mark Crothers on 8/21/2025 | RECENT: Mark Crothers on 8/21/2025
Comments
28% of S&P 500 revenue comes from non-US sources. Jack Bogle said not to bother with non-US equities but offered non-US funds anyway. I have 5% in emerging market equities and 15% in EAFE equities for diversification. BTW, much of the non-US outperformance in 2025 was due to dollar depreciation. Also, there are some great non-US companies and the dividend yield is triple the S&P 500.
As usual in the United States, the retirement system mostly benefits people who need the least help. The section 402(g) limit this year is a whopping $23,000. How can the median income taxpayer who makes $83,730 annually contribute 23% of their income to a retirement plan when they can't afford rent and food? The billionaire political donors control the government. It is shameful.
This post brings up some important issues. First, the 4% withdrawals do not guarantee anything. You could run out of money in fewer than 10 years if the markets slump as they did in the first decade of this century. Second, most of us do not know how long we will live, so flexibility in taking withdrawals is critical. Third, getting object advice from a fiduciary is a bargain.
Vanguard customer service is not as good as Schwab or Fidelity. They cut corners to save money and they can be frustrating to deal with. Schwab assigns you a wealth manager if the total relationship is over one million dollars. I meet or speak to Nick, my wealth manager at least annually and get zero pressure to do anything. We usually discuss strategy as I manage my own investments. BTW, you can get Vanguard ETFs from Schwab at no cost. Also, Schwab has many outside products that they make available. You will not get that at Vanguard.
I like this post and appreciate Mr. Quinn for taking the time to write it. I spent most of my career selling retirement plans and investments to employers. Defined contribution plans can be every bit as effective as the defined benefit plans they have many times replaced. It all depends on the plan design and funding level. A generous profit-sharing plan with or without a match that provides an annuitization option can work great for employees. A DC plan also provides the plan sponsor with predictable funding costs. I like the idea of giving employees some responsibility for their own future.
I plan to leave my Roth account to my children so are 100% equity. Don't forget that the account will, I hope, be mine for about 20 years and they get another 10 years under current law. If you need bonds in the account, go with something low duration like short term bonds of even a senior loan fund so you don't take a beating if you need the money.
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.
Comments
28% of S&P 500 revenue comes from non-US sources. Jack Bogle said not to bother with non-US equities but offered non-US funds anyway. I have 5% in emerging market equities and 15% in EAFE equities for diversification. BTW, much of the non-US outperformance in 2025 was due to dollar depreciation. Also, there are some great non-US companies and the dividend yield is triple the S&P 500.
Post: International allocation
Link to comment from January 15, 2026
As usual in the United States, the retirement system mostly benefits people who need the least help. The section 402(g) limit this year is a whopping $23,000. How can the median income taxpayer who makes $83,730 annually contribute 23% of their income to a retirement plan when they can't afford rent and food? The billionaire political donors control the government. It is shameful.
Post: How do you really feel about 401k plans?
Link to comment from January 13, 2026
This post brings up some important issues. First, the 4% withdrawals do not guarantee anything. You could run out of money in fewer than 10 years if the markets slump as they did in the first decade of this century. Second, most of us do not know how long we will live, so flexibility in taking withdrawals is critical. Third, getting object advice from a fiduciary is a bargain.
Post: Customizing the Safe Withdrawal Rate
Link to comment from January 12, 2026
Vanguard customer service is not as good as Schwab or Fidelity. They cut corners to save money and they can be frustrating to deal with. Schwab assigns you a wealth manager if the total relationship is over one million dollars. I meet or speak to Nick, my wealth manager at least annually and get zero pressure to do anything. We usually discuss strategy as I manage my own investments. BTW, you can get Vanguard ETFs from Schwab at no cost. Also, Schwab has many outside products that they make available. You will not get that at Vanguard.
Post: Schwab or Vanguard?
Link to comment from January 12, 2026
I like this post and appreciate Mr. Quinn for taking the time to write it. I spent most of my career selling retirement plans and investments to employers. Defined contribution plans can be every bit as effective as the defined benefit plans they have many times replaced. It all depends on the plan design and funding level. A generous profit-sharing plan with or without a match that provides an annuitization option can work great for employees. A DC plan also provides the plan sponsor with predictable funding costs. I like the idea of giving employees some responsibility for their own future.
Post: How do you really feel about 401k plans?
Link to comment from January 11, 2026
I plan to leave my Roth account to my children so are 100% equity. Don't forget that the account will, I hope, be mine for about 20 years and they get another 10 years under current law. If you need bonds in the account, go with something low duration like short term bonds of even a senior loan fund so you don't take a beating if you need the money.
Post: What Would You Do?
Link to comment from January 8, 2026
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