I respect those who perform hard work, and I am happy for those who find ways to remain in the work force as they age and their work becomes too demanding. There aren't that many openings for supervisors or managers, but many succeed in finding something suitable in another field for which they can get the necessary training, like yourself.
I hear you, Dick. Like many others, I did various types of labor as a high school and college student, and from that experience learned the value of getting a good education. Only later, did I realize the deeper lesson, which was respect and admiration I have for the men and women who perform physically demanding and sometimes risky work as a career, from which we all benefit. I cringe when I hear or read someone dismissively refer to "burger flippers and ditch diggers" as though its a pejorative.
As a retiree taking distributions, I focus on the number of years' worth of future withdrawals I hold in short term assets, protected from stock market turndowns. If I take 4% annually, and hold 60% (i.e., midpoint of 45-75%) in stock, with the balance in short to medium term treasurys, that leaves 10 years worth of future withdrawals, which I think is pretty safe. With daily reminders of how highly priced US stocks are, it causes me to consider reducing my stock exposure towards the lower end of the 45-75% range, and of course, to be sure to include international stocks in my portfolio.
This, along with the press frequently reminding us of the high CAPE and "Buffett Indicator" does affect my emotions. So what to do? In my opinion, I remind myself of Munger's timeless advice: "Don't do something stupid". In other words, I do nothing.
Similar to Mark Crothers' comment below, structure your portfolio in such a manner that it will reap some of the benefits from stock indexes if they continue to climb, while only incurring some of the losses should they be about to plummet, because you have sufficient assets in cash/short term treasurys. The people who should be rattled by these stories in the media are those who haven't structured their portfolios accordingly. For myself, the main variable I see is deciding how many years worth of future withdrawals to protect: Jonathan has recommended 5 years; some say 7 years. In view of Adam's recent article on the 4% withdrawal method and the need to hold some 50% or so in stocks for it to work, a 60 stock/40 bond allocation (provided the bonds are all short to intermediate term treasurys) allows you to weather a 10 year downturn. Forget FOMO. My fear of running out of money is much stronger. Seems like a good way to sleep at night.
Someone once wrote that if you don't get upset or angry about something you read or heard in the media every day, you should increase the diversity of the media sources you consume.
You raised a valid point. Those who cite the increasing life expectancy statistics as a reason for delaying the retirement age are not taking into consideration whether people can continue performing heavy manual labor for longer periods before retiring. I suspect those who write such ideas have desk jobs themselves.
If someone downvotes an article or comment, it is of zero value to me, unless they include a comment as to why. In fact, I have never given anyone a down vote, not that I haven't seen a few with which I don't agree. I either click "thumbs up", or no click.
Comments
I respect those who perform hard work, and I am happy for those who find ways to remain in the work force as they age and their work becomes too demanding. There aren't that many openings for supervisors or managers, but many succeed in finding something suitable in another field for which they can get the necessary training, like yourself.
Post: An Idea Every Week
Link to comment from September 7, 2025
I hear you, Dick. Like many others, I did various types of labor as a high school and college student, and from that experience learned the value of getting a good education. Only later, did I realize the deeper lesson, which was respect and admiration I have for the men and women who perform physically demanding and sometimes risky work as a career, from which we all benefit. I cringe when I hear or read someone dismissively refer to "burger flippers and ditch diggers" as though its a pejorative.
Post: An Idea Every Week
Link to comment from September 7, 2025
Yes.
Post: What Could Possibly Go Wrong?
Link to comment from September 2, 2025
As a retiree taking distributions, I focus on the number of years' worth of future withdrawals I hold in short term assets, protected from stock market turndowns. If I take 4% annually, and hold 60% (i.e., midpoint of 45-75%) in stock, with the balance in short to medium term treasurys, that leaves 10 years worth of future withdrawals, which I think is pretty safe. With daily reminders of how highly priced US stocks are, it causes me to consider reducing my stock exposure towards the lower end of the 45-75% range, and of course, to be sure to include international stocks in my portfolio.
Post: Risky Business
Link to comment from September 1, 2025
This, along with the press frequently reminding us of the high CAPE and "Buffett Indicator" does affect my emotions. So what to do? In my opinion, I remind myself of Munger's timeless advice: "Don't do something stupid". In other words, I do nothing. Similar to Mark Crothers' comment below, structure your portfolio in such a manner that it will reap some of the benefits from stock indexes if they continue to climb, while only incurring some of the losses should they be about to plummet, because you have sufficient assets in cash/short term treasurys. The people who should be rattled by these stories in the media are those who haven't structured their portfolios accordingly. For myself, the main variable I see is deciding how many years worth of future withdrawals to protect: Jonathan has recommended 5 years; some say 7 years. In view of Adam's recent article on the 4% withdrawal method and the need to hold some 50% or so in stocks for it to work, a 60 stock/40 bond allocation (provided the bonds are all short to intermediate term treasurys) allows you to weather a 10 year downturn. Forget FOMO. My fear of running out of money is much stronger. Seems like a good way to sleep at night.
Post: What Could Possibly Go Wrong?
Link to comment from September 1, 2025
Someone once wrote that if you don't get upset or angry about something you read or heard in the media every day, you should increase the diversity of the media sources you consume.
Post: re RDQ’s “down arrows” —> My 1 cent :
Link to comment from September 1, 2025
You raised a valid point. Those who cite the increasing life expectancy statistics as a reason for delaying the retirement age are not taking into consideration whether people can continue performing heavy manual labor for longer periods before retiring. I suspect those who write such ideas have desk jobs themselves.
Post: Does Social Security work?
Link to comment from September 1, 2025
You haven't lost the ability to write clearly and its good to hear from you. Thank you.
Post: Health Update
Link to comment from September 1, 2025
If someone downvotes an article or comment, it is of zero value to me, unless they include a comment as to why. In fact, I have never given anyone a down vote, not that I haven't seen a few with which I don't agree. I either click "thumbs up", or no click.
Post: RDQ’s “down arrows” —> My 1 cent :
Link to comment from August 31, 2025
Thanks for posting this Dan. I couldn't have said it better. I dis send my donation earlier, and plan to repeat annually.
Post: Jonathan, you’re in our thoughts and prayers
Link to comment from August 31, 2025