AUTHOR: John Katz on 2/27/2025 FIRST: Jonathan Clements on 2/27 | RECENT: 1michaelm on 3/5
Comments
Taking state lottery money allocated for children and disabled and giving it to teachers is disgraceful. There is no logic involved with that re-direction, merely greed and a callous disregard for the very people teachers are supposed to care most about.
While I would not be happy about any cuts to our benefits, it would not be particularly devastating to us. That said, I think the chances of cuts happening are about 5% at most. It would be political suicide for politicians to allow this to occur, and they are foremost in the business of getting themselves re-elected. They will make major reforms to the system, like they last did in 1983. But like 1983, they will provide a very long runway before they take effect, so that current beneficiaries, and likely near beneficiaries, will not be impacted.
Perhaps people can buy the items in August at a greater discount than in November? Perhaps it won't be available in November? Maybe? Maybe not. But if a Christmas purchase brings joy to a person in August, have at it. I wouldn't presume to question the wisdom of a person making such a purchase. I have no idea of their financial standing. Besides, buying a Christmas item in August and having a 401(k) at the same time are not mutually exclusive. You may be selling short these 'vulnerable populations ' - however you may be categorizing them - regarding their ability to manage their money.
To some degree, life is about making the most of the opportunities (and gifts, God-given and others) that come our way. You are providing opportunities for your heirs to maximize the gifts you are leaving them. The rest is up to them.
Money is clearly important. Were it not so, Humble Dollar would have no readers, and no contributors. As others have pointed out, there is a great deal of variability in terms of how important money is to us. We don't want to be like Scrooge McDuck, constantly counting our money. Because when we are counting money, we are not living life: spending time with family, friends, helping others, pursuing good health, etc.
That's one of the points I made. If the private insurance companies color outside the lines, the DOJ looks into things. But if Medicare for All takes hold, who investigates? The federal government isn't too fastidious or objective about investigating itself.
Medicare for All creates a monopoly. And while monopolies might enjoy economy of scale, they are not too great when it comes to having incentives for being the best they can be. Being the only game in town routinely brings apathy for its customers, if not contempt. And little incentive for controlling costs. Also, while I have issues with UHC, and Humana, and CVS Health and others, they have competition to keep them somewhat honest. And shareholders. And the gov't. My experiences with the IRS and Social Security and Medicare - with their complexity of rules, and their difficulty in reaching people who can solve my problems - leaves me with zero confidence that a Medicare for All bureaucracy would be any better. And because it would be bigger, I imagine it would be worse. And finally, when you turn your healthcare over to the government, who provides oversight on how they're doing? That's right, it's the government. Does that sound like an Rx for accountability?
Not a money comment. But don't let this shake your confidence in yourself, and your abilities. These things can happen, as you know, with no correlation to one's performance. Unless you have a 'fatal flaw' in some area of your performance, you should focus on finding positions that let you exploit your strengths as much as possible.
"Saving money brought me more pleasure than anything I could imagine buying." I think that about sums up how you achieved success. While the ultimate goal was financial security, it sure helped that your strategy to get to that goal, i.e., saving money, was so enjoyable.
Retirement is a big transition in one's life. But I assume you have made others, too. Such as high school to college, and college to the working world. Perhaps being single to being married. The loss of parents. Life is full of such transitions. Some of them are difficult. Which brings me to my advice. If you are having panic attacks, I would suggest speaking with your primary care about them. She may think you need to speak with a therapist, or perhaps give you something to ease the attacks, or some other approach. And as others say, I think you should find a financial advisor to help you better understand your financial situation. I think the fear of the unknown is perhaps driving some of your anxiety. A financial advisor can tell you what's what. In any event, speaking with a health professional and a financial professional may be beneficial.
Comments
Taking state lottery money allocated for children and disabled and giving it to teachers is disgraceful. There is no logic involved with that re-direction, merely greed and a callous disregard for the very people teachers are supposed to care most about.
Post: Does Social Security work?
Link to comment from August 30, 2025
While I would not be happy about any cuts to our benefits, it would not be particularly devastating to us. That said, I think the chances of cuts happening are about 5% at most. It would be political suicide for politicians to allow this to occur, and they are foremost in the business of getting themselves re-elected. They will make major reforms to the system, like they last did in 1983. But like 1983, they will provide a very long runway before they take effect, so that current beneficiaries, and likely near beneficiaries, will not be impacted.
Post: Dealing with a reduction in Social Security benefits. Is there a backup plan?
Link to comment from August 27, 2025
Perhaps people can buy the items in August at a greater discount than in November? Perhaps it won't be available in November? Maybe? Maybe not. But if a Christmas purchase brings joy to a person in August, have at it. I wouldn't presume to question the wisdom of a person making such a purchase. I have no idea of their financial standing. Besides, buying a Christmas item in August and having a 401(k) at the same time are not mutually exclusive. You may be selling short these 'vulnerable populations ' - however you may be categorizing them - regarding their ability to manage their money.
Post: Bah Humbug! It’s Not Even September Yet
Link to comment from August 22, 2025
To some degree, life is about making the most of the opportunities (and gifts, God-given and others) that come our way. You are providing opportunities for your heirs to maximize the gifts you are leaving them. The rest is up to them.
Post: Letting Go
Link to comment from July 25, 2025
Money is clearly important. Were it not so, Humble Dollar would have no readers, and no contributors. As others have pointed out, there is a great deal of variability in terms of how important money is to us. We don't want to be like Scrooge McDuck, constantly counting our money. Because when we are counting money, we are not living life: spending time with family, friends, helping others, pursuing good health, etc.
Post: How Important Is Money?
Link to comment from July 17, 2025
That's one of the points I made. If the private insurance companies color outside the lines, the DOJ looks into things. But if Medicare for All takes hold, who investigates? The federal government isn't too fastidious or objective about investigating itself.
Post: I have a challenge for you. It’s one of the most significant financial and controversial issues facing the U.S.
Link to comment from July 16, 2025
Medicare for All creates a monopoly. And while monopolies might enjoy economy of scale, they are not too great when it comes to having incentives for being the best they can be. Being the only game in town routinely brings apathy for its customers, if not contempt. And little incentive for controlling costs. Also, while I have issues with UHC, and Humana, and CVS Health and others, they have competition to keep them somewhat honest. And shareholders. And the gov't. My experiences with the IRS and Social Security and Medicare - with their complexity of rules, and their difficulty in reaching people who can solve my problems - leaves me with zero confidence that a Medicare for All bureaucracy would be any better. And because it would be bigger, I imagine it would be worse. And finally, when you turn your healthcare over to the government, who provides oversight on how they're doing? That's right, it's the government. Does that sound like an Rx for accountability?
Post: I have a challenge for you. It’s one of the most significant financial and controversial issues facing the U.S.
Link to comment from July 15, 2025
Not a money comment. But don't let this shake your confidence in yourself, and your abilities. These things can happen, as you know, with no correlation to one's performance. Unless you have a 'fatal flaw' in some area of your performance, you should focus on finding positions that let you exploit your strengths as much as possible.
Post: Conserving Cash
Link to comment from July 13, 2025
"Saving money brought me more pleasure than anything I could imagine buying." I think that about sums up how you achieved success. While the ultimate goal was financial security, it sure helped that your strategy to get to that goal, i.e., saving money, was so enjoyable.
Post: Spend Nothing
Link to comment from June 26, 2025
Retirement is a big transition in one's life. But I assume you have made others, too. Such as high school to college, and college to the working world. Perhaps being single to being married. The loss of parents. Life is full of such transitions. Some of them are difficult. Which brings me to my advice. If you are having panic attacks, I would suggest speaking with your primary care about them. She may think you need to speak with a therapist, or perhaps give you something to ease the attacks, or some other approach. And as others say, I think you should find a financial advisor to help you better understand your financial situation. I think the fear of the unknown is perhaps driving some of your anxiety. A financial advisor can tell you what's what. In any event, speaking with a health professional and a financial professional may be beneficial.
Post: The Fear of Letting Go
Link to comment from June 24, 2025