To me, "winning" is defined as having a bond/stock nest egg large enough to support you to the end even if stocks plunge and don't come back in your lifetime. IOW, to be able to live on just the fixed-income holdings. Better yet, to live off just the interest from the bonds, all of which are TIPS. That last is the pinnacle of Mount Security. That said, absent a strong motive for leaving a very generous estate, having enough bonds to sustain you even if spending them down to near-zero is good enough. The definition presumes living comfortably, rather than in a hovel on thin crusts of stale bread. That done, mansions and a caviar-diet are also not required.
"...But HD posts often get me thinking, what if there wasn’t a pension, what if it was all on me, what would I have done?"I think the answer to your question is in another post in this very issue of Humble Dollar:"Forget budgeting and tracking spending. HumbleDollar editor's approach to saving in his 20s and 30s: Sock away every penny possible."Even more so with fewer and fewer people getting pensions these days.
My inspiration came decades ago from a more prosaic souce, a beer commercial: "You only go around once in this life, so you have to grab for all the gusto you can get."
The settings sound lovely, but you should get some exercise. ;-) Hear-hear to all your points. At age 70 I am proud to still be jogging 4-miles, four times a week on a nearby trail. Years ago a buddy had a saying,"How long should you keep doing something physical? Until you can't do it anymore!" Related, also years ago I read a valid authority (about which I'm particular) indicating there's no reason for geezers not to keep jogging if mothing specific prohibits it.
It's pretty, and in small quantities, physical gold is a security blanket against 'zombie apocalypse" type situations. I've never considered selling any that I've bought, instead looking on the coins as welcome bonuses for the survivors when I check out. One question I have not investigated is whether bullion coins or common-date US Saints and Liberties are a better value over time. The current moment is a good example: In the past 2-3 years, have the common date numismatics risen in proportion to the bullion? I suspect the answer is "no," but I'm not investigating because I don't plan on doing anything about it either way.
From day one I have regarded all these "coins" as a sucker's bet and invitation to lose whatever you pay for them. If you want to invest in coins, make them gold ones.
All but one of my regular monthly bills go to my primary credit card account. The one exception is the monthly bill for that credit card, which I received via USPS. The card's account statement in hard copy lists all those other transactions on paper, which is very handy and useful.
My situation is very similar since I started collecting SS at 70 a short time ago, except I already owned a nice paid-for ranch-style home in a million-dollar setting in a LCOL region. This man-who-has-everything he wants actually should spend more, because for what other reason did I build that nice nest egg? Travel? I did a ton of it over the decades, and now regard air travel as the place people go for eternity if they've been bad. :-( The young 'uns will be happy some day (already are on Christmas. :-) )
My moderate risk intolerance came from younger years heavy with uncertainty. Once in the right career, 60/40 was fine with me. With Social Security checks coming through starting at age 70, I've got enough in fixed income to cover any non-bizarre expenses. Those last are unlikely since I'm "happily meandering through each day" in a low COL rural/small town region, enjoying a comfortable ranch house with a million-dollar view featuring wildlife galore. My motto now is, the 40% equities in my current portfolio are for the survivors, and the 60% fixed income (half in a 5 year TIPS) is for me. In reality, the survivors will probably get a big chunk of the fixed as well. They'll all be happy because it's unlikely they're expecting much; and while the amount won't be life-changing for most, it will make all of them smile. If the equities return zero I won't care. I get a lot of enjoyment from giving them larger-than-expected Christmas presents, color green. One also gets surprise checks from time to time. I'm grateful for the satisfying career I finally landed half-way through my working life, but before then and in other areas faced thorny challenges that weren't so fun. I've seen the world already, and regard modern air travel as the eternity people are sent to if they've been bad. So travel is not on the agenda. When I can't take care of myself I'm hopeful of finding one or two younger folks nearby who can help and could use the money, which I can easily afford in this low COL area. I don't think I'll want to keep living if it means being institutionalized.
Comments
To me, "winning" is defined as having a bond/stock nest egg large enough to support you to the end even if stocks plunge and don't come back in your lifetime. IOW, to be able to live on just the fixed-income holdings. Better yet, to live off just the interest from the bonds, all of which are TIPS. That last is the pinnacle of Mount Security. That said, absent a strong motive for leaving a very generous estate, having enough bonds to sustain you even if spending them down to near-zero is good enough. The definition presumes living comfortably, rather than in a hovel on thin crusts of stale bread. That done, mansions and a caviar-diet are also not required.
Post: Under Pressure
Link to comment from July 19, 2025
I'd like to read Suzie's response to this post.
Post: The High Cost of Financial Advice: A Tale of Two Portfolios
Link to comment from July 13, 2025
"...But HD posts often get me thinking, what if there wasn’t a pension, what if it was all on me, what would I have done?" I think the answer to your question is in another post in this very issue of Humble Dollar: "Forget budgeting and tracking spending. HumbleDollar editor's approach to saving in his 20s and 30s: Sock away every penny possible." Even more so with fewer and fewer people getting pensions these days.
Post: A theoretical, simplified road to retirement income without a pension. I’ve learned it doesn’t exist.
Link to comment from June 29, 2025
My inspiration came decades ago from a more prosaic souce, a beer commercial: "You only go around once in this life, so you have to grab for all the gusto you can get."
Post: Beyond the Balance Sheet: Investing in Yourself
Link to comment from June 29, 2025
The settings sound lovely, but you should get some exercise. ;-) Hear-hear to all your points. At age 70 I am proud to still be jogging 4-miles, four times a week on a nearby trail. Years ago a buddy had a saying,"How long should you keep doing something physical? Until you can't do it anymore!" Related, also years ago I read a valid authority (about which I'm particular) indicating there's no reason for geezers not to keep jogging if mothing specific prohibits it.
Post: Beyond the Balance Sheet: Investing in Yourself
Link to comment from June 29, 2025
It's pretty, and in small quantities, physical gold is a security blanket against 'zombie apocalypse" type situations. I've never considered selling any that I've bought, instead looking on the coins as welcome bonuses for the survivors when I check out. One question I have not investigated is whether bullion coins or common-date US Saints and Liberties are a better value over time. The current moment is a good example: In the past 2-3 years, have the common date numismatics risen in proportion to the bullion? I suspect the answer is "no," but I'm not investigating because I don't plan on doing anything about it either way.
Post: What About Gold?
Link to comment from June 8, 2025
From day one I have regarded all these "coins" as a sucker's bet and invitation to lose whatever you pay for them. If you want to invest in coins, make them gold ones.
Post: Up Because It’s Up
Link to comment from May 31, 2025
All but one of my regular monthly bills go to my primary credit card account. The one exception is the monthly bill for that credit card, which I received via USPS. The card's account statement in hard copy lists all those other transactions on paper, which is very handy and useful.
Post: It’s 2025. Do you send checks by mail?
Link to comment from May 3, 2025
My situation is very similar since I started collecting SS at 70 a short time ago, except I already owned a nice paid-for ranch-style home in a million-dollar setting in a LCOL region. This man-who-has-everything he wants actually should spend more, because for what other reason did I build that nice nest egg? Travel? I did a ton of it over the decades, and now regard air travel as the place people go for eternity if they've been bad. :-( The young 'uns will be happy some day (already are on Christmas. :-) )
Post: Insomnia and the Back of an Envelope
Link to comment from April 26, 2025
My moderate risk intolerance came from younger years heavy with uncertainty. Once in the right career, 60/40 was fine with me. With Social Security checks coming through starting at age 70, I've got enough in fixed income to cover any non-bizarre expenses. Those last are unlikely since I'm "happily meandering through each day" in a low COL rural/small town region, enjoying a comfortable ranch house with a million-dollar view featuring wildlife galore. My motto now is, the 40% equities in my current portfolio are for the survivors, and the 60% fixed income (half in a 5 year TIPS) is for me. In reality, the survivors will probably get a big chunk of the fixed as well. They'll all be happy because it's unlikely they're expecting much; and while the amount won't be life-changing for most, it will make all of them smile. If the equities return zero I won't care. I get a lot of enjoyment from giving them larger-than-expected Christmas presents, color green. One also gets surprise checks from time to time. I'm grateful for the satisfying career I finally landed half-way through my working life, but before then and in other areas faced thorny challenges that weren't so fun. I've seen the world already, and regard modern air travel as the eternity people are sent to if they've been bad. So travel is not on the agenda. When I can't take care of myself I'm hopeful of finding one or two younger folks nearby who can help and could use the money, which I can easily afford in this low COL area. I don't think I'll want to keep living if it means being institutionalized.
Post: Ask Me a Tough One
Link to comment from April 20, 2025