AUTHOR: John Katz on 2/27/2025 FIRST: Jonathan Clements on 2/27/2025 | RECENT: 1michaelm on 3/5/2025
Comments
This article does not take an objective view of the problem. Suggesting that there is but one stool left, for example (personal savings), is absurd and misleading. Congress will do what they always do, wait for the last minute to add some reforms. Social Security as a leg is not going anywhere. And statements like people being forced to 'hoard' in order to prepare for retirement is just a bit hyperbolic. Hoarding is what people in Stalingrad did when it was assaulted by the Nazis. People make choices throughout their lifetimes on all sorts of matters: eating right, where to live, benefits of a lifetime of exercising, getting a good education, obtaining routine medical care, what to do for a living, spending within their means, etc, etc. We do a rotten job in the U.S. on educating our people on all these matters. It's inexcusable. People leave high school unprepared to make good decisions about all sorts of issues they will confront in life. And yes, some of this guidance should be supplemented from family, but in many cases they have not been educated on such matters. Savings plans work. They are not perfect. Nothing is. But is the tool the problem here? Or is it the person wielding the tool? And if it's the person, how do we help them more skillfully leverage savings plan? And yes, Social Security can be improved. For one thing, tax all Social Security wages. Why stop when an individual's income reaches an annual amount of $186,000 -- or whatever the limit is this year? Medicare taxes apply to all income, why not Social Security? Some of this stuff is hard, and some of it is not.
I don't think there is a need to feel guilty about the life you lead. Continue to have empathy and compassion for the less fortunate in your orbit. And help out when you can. People don't benefit if you skip a trip to London, or fly economy rather than business class.
I bought a Hyundai about 15 months ago and financed it with the intention of paying it off after one month, which is what we did. Before finalizing the deal, we triple checked with the finance guy that we could do so without penalty. There wasn't a problem. I guess this may vary from car company to car company or by dealership.
"OUR GOAL IS TO TELL you everything you need to know about money—all in one place ...""HUMBLEDOLLAR STRIVES to deliver conflict-free financial advice that helps everyday Americans make smarter money choices." The sentences above come from the "About" section. I think this site works best when content is guided by these 'guard rails' established in the original intent of the site. I think the site wobbles a bit when people try to 'shoe horn' topics that may be interesting and make a valid point, but are ultimately tangential to the mission of the site.
Lots of questions about this. Starting with, how has the funding of Ohio schools over the last 15 years compared with the rate of inflation? Has there been any correlation between increases in money spent on schools and student achievement, e.g, graduation rates, test scores, post-secondary enrollment? How much is Ohio paying per student today vs 15 years ago? The increases in spending, if any, over the last 15 years - where have they gone? Special programs that benefit certain groups of students? Money allocated to general student population? Or administrative positions? Other? Public schools must be funded appropriately. We need to make sure our children are prepared to be successful in life. But there also needs to be accountability. How do we objectively measure whether we have the right amount of money going to public schools? What's that yardstick?
There are a lot of assumptions built in to his discussion: First, maybe they haven't saddled themselves with such a large fixed financial cost, maybe they paid cash outright. Second, maybe the people with the expensive cars aren't living above their apparent means (as you say, Mark, they may well have financial support from somewhere - how would you or anyone else know that)? Third, maybe they are not leasing to afford something they couldn't buy outright - maybe they bought it outright. Last, maybe they derive greater enjoyment from driving than most others do - in which case they may prefer to splurge on a vehicle and cut back on vacations, or some other areas to afford the vehicle. Maybe it was the vehicle in lieu of (fill in the blank). But, as you surmise, the most likely outcome is that they have purchased too much car given their stage in life, and like many of us, will learn from the mistake. I hope in the meantime the car brings them lots of enjoyment.
While I agree with Mark's main point about leading privileged lives, I like to expand this a bit. People frequently use that term - privileged - and point to socio-economic benefits. And they are indeed blessings and advantages. But I rarely hear people refer to God-given things like intelligence, charm, good looks, sense of humor, resilience, and athleticism (there are many others) as privileges. Why is that? After all, they are unearned social advantages that create disparities in important areas of one' life. My point is, we all have different gifts and advantages - some of us are smart, some aren't. Some are funny, some aren't. Some are friendly, some aren't. Some of us are more attractive than others. To focus simply on socio-economic advantages one might have over another discounts that someone with little money might be rich in gifts that matter more. That said, living in a wealthy nation with access to good healthcare, educational systems, reliable and accessible utilities, etc, is not to be taken for granted. For many, the things we have to be thankful for tower above those we seek.
That's a heck of a life you lived, Jonathan. While you died before your time, you did a lot of living. A lot. And much of it devoted to the welfare of others. May God bless you, and keep you. And I'm very pleased that we have several more of your reflections to look forward to over the coming months. I'll think of you every time I check back with the Humble Dollar community. My sympathies to Elaine, and Jonathan's entire family. We lost a very good man. It saddens me greatly to think that he is no longer with us.
I am far, far more concerned with my health experiencing a negative correction, i.e., a serious illness or condition, than I am with the market taking a nosedive. Market goes up, and the market goes down. Rinse and repeat. But when your health takes a serious downturn, it doesn't always recover.
Comments
This article does not take an objective view of the problem. Suggesting that there is but one stool left, for example (personal savings), is absurd and misleading. Congress will do what they always do, wait for the last minute to add some reforms. Social Security as a leg is not going anywhere. And statements like people being forced to 'hoard' in order to prepare for retirement is just a bit hyperbolic. Hoarding is what people in Stalingrad did when it was assaulted by the Nazis. People make choices throughout their lifetimes on all sorts of matters: eating right, where to live, benefits of a lifetime of exercising, getting a good education, obtaining routine medical care, what to do for a living, spending within their means, etc, etc. We do a rotten job in the U.S. on educating our people on all these matters. It's inexcusable. People leave high school unprepared to make good decisions about all sorts of issues they will confront in life. And yes, some of this guidance should be supplemented from family, but in many cases they have not been educated on such matters. Savings plans work. They are not perfect. Nothing is. But is the tool the problem here? Or is it the person wielding the tool? And if it's the person, how do we help them more skillfully leverage savings plan? And yes, Social Security can be improved. For one thing, tax all Social Security wages. Why stop when an individual's income reaches an annual amount of $186,000 -- or whatever the limit is this year? Medicare taxes apply to all income, why not Social Security? Some of this stuff is hard, and some of it is not.
Post: How do you really feel about 401k plans?
Link to comment from January 11, 2026
I don't think there is a need to feel guilty about the life you lead. Continue to have empathy and compassion for the less fortunate in your orbit. And help out when you can. People don't benefit if you skip a trip to London, or fly economy rather than business class.
Post: Someday Is Here
Link to comment from December 24, 2025
I bought a Hyundai about 15 months ago and financed it with the intention of paying it off after one month, which is what we did. Before finalizing the deal, we triple checked with the finance guy that we could do so without penalty. There wasn't a problem. I guess this may vary from car company to car company or by dealership.
Post: The Monthly Payment Trap: How Car Dealerships Hide the Real Cost
Link to comment from December 16, 2025
"OUR GOAL IS TO TELL you everything you need to know about money—all in one place ..." "HUMBLEDOLLAR STRIVES to deliver conflict-free financial advice that helps everyday Americans make smarter money choices." The sentences above come from the "About" section. I think this site works best when content is guided by these 'guard rails' established in the original intent of the site. I think the site wobbles a bit when people try to 'shoe horn' topics that may be interesting and make a valid point, but are ultimately tangential to the mission of the site.
Post: Letter from Elaine
Link to comment from November 23, 2025
Lots of questions about this. Starting with, how has the funding of Ohio schools over the last 15 years compared with the rate of inflation? Has there been any correlation between increases in money spent on schools and student achievement, e.g, graduation rates, test scores, post-secondary enrollment? How much is Ohio paying per student today vs 15 years ago? The increases in spending, if any, over the last 15 years - where have they gone? Special programs that benefit certain groups of students? Money allocated to general student population? Or administrative positions? Other? Public schools must be funded appropriately. We need to make sure our children are prepared to be successful in life. But there also needs to be accountability. How do we objectively measure whether we have the right amount of money going to public schools? What's that yardstick?
Post: Public Schools and Property Taxes
Link to comment from October 28, 2025
There are a lot of assumptions built in to his discussion: First, maybe they haven't saddled themselves with such a large fixed financial cost, maybe they paid cash outright. Second, maybe the people with the expensive cars aren't living above their apparent means (as you say, Mark, they may well have financial support from somewhere - how would you or anyone else know that)? Third, maybe they are not leasing to afford something they couldn't buy outright - maybe they bought it outright. Last, maybe they derive greater enjoyment from driving than most others do - in which case they may prefer to splurge on a vehicle and cut back on vacations, or some other areas to afford the vehicle. Maybe it was the vehicle in lieu of (fill in the blank). But, as you surmise, the most likely outcome is that they have purchased too much car given their stage in life, and like many of us, will learn from the mistake. I hope in the meantime the car brings them lots of enjoyment.
Post: I Really Don’t Get It, But I Guess That’s OK
Link to comment from October 21, 2025
Aim for the moon, Mark. Why not?
Post: The 1% Club: Our Unnoticed Wealth
Link to comment from September 27, 2025
While I agree with Mark's main point about leading privileged lives, I like to expand this a bit. People frequently use that term - privileged - and point to socio-economic benefits. And they are indeed blessings and advantages. But I rarely hear people refer to God-given things like intelligence, charm, good looks, sense of humor, resilience, and athleticism (there are many others) as privileges. Why is that? After all, they are unearned social advantages that create disparities in important areas of one' life. My point is, we all have different gifts and advantages - some of us are smart, some aren't. Some are funny, some aren't. Some are friendly, some aren't. Some of us are more attractive than others. To focus simply on socio-economic advantages one might have over another discounts that someone with little money might be rich in gifts that matter more. That said, living in a wealthy nation with access to good healthcare, educational systems, reliable and accessible utilities, etc, is not to be taken for granted. For many, the things we have to be thankful for tower above those we seek.
Post: The 1% Club: Our Unnoticed Wealth
Link to comment from September 26, 2025
That's a heck of a life you lived, Jonathan. While you died before your time, you did a lot of living. A lot. And much of it devoted to the welfare of others. May God bless you, and keep you. And I'm very pleased that we have several more of your reflections to look forward to over the coming months. I'll think of you every time I check back with the Humble Dollar community. My sympathies to Elaine, and Jonathan's entire family. We lost a very good man. It saddens me greatly to think that he is no longer with us.
Post: Farewell Friends
Link to comment from September 23, 2025
I am far, far more concerned with my health experiencing a negative correction, i.e., a serious illness or condition, than I am with the market taking a nosedive. Market goes up, and the market goes down. Rinse and repeat. But when your health takes a serious downturn, it doesn't always recover.
Post: The Gnashing of Teeth
Link to comment from September 21, 2025