In my opinion, down votes without an accompanying explanation are of zero value. How about it, fellow readers? If you give a downvote, write a brief message why.
To paraphrase Buffett and other experts, while a basic understanding of investments and a reasonable level of intelligence are necessary, the most important quality is discipline. The ability to tune out noise in the financial media and to be able to resist making emotionally driven decisions which could be hazardous to your portfolio. "Know thyself". I know of a couple highly educated executives much more knowledgable about business than I, who pay someone else to manage their investments. I suspect Humble Dollar self-selects for people who are comfortable making their own investing decisions. Many others, including some who are highly intelligent and educated, are not. I just tell those I know to be aware of how much they are paying and what they are getting for their fees.
I agree it is important to keep the big picture in mind. I like simplicity, personally. But as Einstein reputedly said "Make things as simple as possible, but more so". And flexibility too. And, always reserve the right to tweak or modify the plan, when desirable, as you move through retirement.
For five years prior to retirement, and the seven years which have passed since retiring, I focussed on two numbers: portfolio value, and net cash flow. The net is determined by my effective combined federal and state rates, which are derived from the marginal rates charged by each. Both are relevant.
Comments
Its refreshing to read a non-partisan, clearly written and easily understood explanation for a complex bill. Thank you.
Post: What to Know About The One Big Beautiful Bill
Link to comment from July 11, 2025
In my opinion, down votes without an accompanying explanation are of zero value. How about it, fellow readers? If you give a downvote, write a brief message why.
Post: Some people are never satisfied
Link to comment from July 11, 2025
As a retired neurologist, I'm sure your medical and nursing team are in awe of your refusal to surrender to your illness. Thank you.
Post: Extra Innings
Link to comment from July 10, 2025
To paraphrase Buffett and other experts, while a basic understanding of investments and a reasonable level of intelligence are necessary, the most important quality is discipline. The ability to tune out noise in the financial media and to be able to resist making emotionally driven decisions which could be hazardous to your portfolio. "Know thyself". I know of a couple highly educated executives much more knowledgable about business than I, who pay someone else to manage their investments. I suspect Humble Dollar self-selects for people who are comfortable making their own investing decisions. Many others, including some who are highly intelligent and educated, are not. I just tell those I know to be aware of how much they are paying and what they are getting for their fees.
Post: Beyond fees, is using a financial advisor, advisable? If you do or don’t why?
Link to comment from July 10, 2025
Don't judge a book by its cover. I think this applies to people too.
Post: Quinn is intrigued by the Lamborghini-style of managing money
Link to comment from July 8, 2025
The lost sight of our shared identity is among our most serious challenges today. Wish I had a solution.
Post: Quinn rants about taxes-but maybe not what you think.
Link to comment from July 8, 2025
We visited there years ago, and I missed it. Must have had too many glasses of Guinness! And, it may well be fresher.
Post: Room to Maneuver
Link to comment from July 5, 2025
Completely agree!
Post: A Gift Worth Reading by Dennis Friedman
Link to comment from July 5, 2025
I agree it is important to keep the big picture in mind. I like simplicity, personally. But as Einstein reputedly said "Make things as simple as possible, but more so". And flexibility too. And, always reserve the right to tweak or modify the plan, when desirable, as you move through retirement.
Post: Quinn asks, is there anything wrong with keeping it simple?
Link to comment from July 5, 2025
For five years prior to retirement, and the seven years which have passed since retiring, I focussed on two numbers: portfolio value, and net cash flow. The net is determined by my effective combined federal and state rates, which are derived from the marginal rates charged by each. Both are relevant.
Post: Which really matters? Marginal or effective tax rate? Just show me how much I get to keep says Quinn.
Link to comment from July 5, 2025