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Jonathan founded HumbleDollar at year-end 2016. Earlier in his career, he spent almost 20 years at The Wall Street Journal, where he was the newspaper's personal finance columnist, and six years at Citigroup, where he was director of financial education for the bank's U.S. wealth management arm. Born in England and educated at Cambridge University, Jonathan now lives with his wife Elaine in Philadelphia, just a few blocks from his daughter, son-in-law and two grandsons. In addition to his Forum posts and comments, shown below, be sure to check out Jonathan's writer's page, where his articles are listed.
Booking It by Jonathan Clements
8 replies
AUTHOR: Jonathan Clements on 9/13/2024
FIRST: David Lancaster on 9/13 | RECENT: baldscreen on 9/13/2024 at 4:38 PM
Consuelo Mack WealthTrack
17 replies
AUTHOR: Jonathan Clements on 9/6/2024
FIRST: Nuke Ken on 9/6 | RECENT: jimbow13 on 9/13/2024 at 12:31 PM
First Place by Jonathan Clements
60 replies
AUTHOR: Jonathan Clements on 9/6/2024
FIRST: eludom on 9/6 | RECENT: Rick Connor on 9/10
Rules of the Road by Jonathan Clements
25 replies
AUTHOR: Jonathan Clements on 8/30/2024
FIRST: David Lancaster on 8/30 | RECENT: Michael1 on 8/31
Committing Ourselves by Jonathan Clements
13 replies
AUTHOR: Jonathan Clements on 8/23/2024
FIRST: Michael1 on 8/23 | RECENT: GNeil Nussen623 on 8/25
Nothing to Trust by Jonathan Clements
29 replies
AUTHOR: Jonathan Clements on 8/16/2024
FIRST: Edmund Marsh on 8/16 | RECENT: Michael1 on 8/17
Lines in the Sand by Jonathan Clements
47 replies
AUTHOR: Jonathan Clements on 8/9/2024
FIRST: bbbobbins on 8/9 | RECENT: kt2062 on 8/11
Staying the Course by Jonathan Clements
51 replies
AUTHOR: Jonathan Clements on 8/5/2024
FIRST: Rick Connor on 8/5 | RECENT: luvtoride44afe9eb1e on 8/11
All About Me
17 replies
AUTHOR: Jonathan Clements on 7/22/2024
FIRST: Andrew Forsythe on 7/22 | RECENT: cesplint on 8/3
Feeling Lucky by Jonathan Clements
35 replies
AUTHOR: Jonathan Clements on 7/26/2024
FIRST: Neil Imus on 7/26 | RECENT: cesplint on 8/3
When should you claim Social Security retirement benefits?
34 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: David Powell on 4/5/2021 | RECENT: cesplint on 8/3
If money were no object, what life changes would you make?
31 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: kristinehayes2014 on 4/6/2021 | RECENT: Edmund Marsh on 7/29
Should you prepay a mortgage?
31 replies
AUTHOR: Jonathan Clements on 3/28/2021
FIRST: Jonathan Clements on 3/28/2021 | RECENT: JGarrett on 7/28
What financial lessons did you learn from your parents?
30 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: Jim Wasserman on 4/4/2021 | RECENT: H S on 7/24
What are the smartest financial moves you’ve ever made?
40 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: Marc Bisbal Arias on 4/8/2021 | RECENT: Rick Connor on 7/23
What’s your biggest financial regret?
16 replies
AUTHOR: Jonathan Clements on 4/12/2021
FIRST: Anika Hedstrom on 4/19/2021 | RECENT: H S on 7/23
What steps have you taken to simplify your finances?
29 replies
AUTHOR: Jonathan Clements on 6/5/2024
FIRST: Mike Zaccardi on 6/5 | RECENT: R Quinn on 7/22
What’s your favorite financial quote?
91 replies
AUTHOR: Jonathan Clements on 4/12/2021
FIRST: Ben Rodriguez on 4/15/2021 | RECENT: dorisn18 on 7/20
Humble Bragging
36 replies
AUTHOR: Jonathan Clements on 7/12/2024
FIRST: Rick Connor on 7/12 | RECENT: Sharon Edwards on 7/18
Scroll Down
11 replies
AUTHOR: Jonathan Clements on 7/12/2024
FIRST: Winston Smith on 7/12 | RECENT: Jonathan Clements on 7/14
They're Sunk by Jonathan Clements
26 replies
AUTHOR: Jonathan Clements on 7/8/2024
FIRST: Edmund Marsh on 7/8 | RECENT: R Quinn on 7/11
Four Mantras
10 replies
AUTHOR: Jonathan Clements on 7/1/2024
FIRST: 1PF on 7/1 | RECENT: steve abramowitz on 7/10
My Shame
19 replies
AUTHOR: Jonathan Clements on 7/3/2024
FIRST: R Quinn on 7/3 | RECENT: Matt Sherman on 7/10
Selling the Sizzle by Jonathan Clements
9 replies
AUTHOR: Jonathan Clements on 7/4/2024
FIRST: William Perry on 7/4 | RECENT: Nuke Ken on 7/8
What percentage of your salary do you need for a comfortable retirement?
51 replies
AUTHOR: Jonathan Clements on 6/5/2024
FIRST: Mike Zaccardi on 6/5 | RECENT: Matt Morse on 7/7
Is buying long-term-care insurance a good idea?
20 replies
AUTHOR: Jonathan Clements on 4/12/2021
FIRST: James McGlynn CFA RICP® on 4/14/2021 | RECENT: Richard Hayman on 7/6
What do you need to feel financially secure?
21 replies
AUTHOR: Jonathan Clements on 6/6/2021
FIRST: Rick Connor on 6/13/2021 | RECENT: H S on 7/3
When is it okay to go into debt?
8 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: Sanjib Saha on 4/9/2021 | RECENT: R Quinn on 6/29
What’s the best financial book you’ve ever read?
72 replies
AUTHOR: Jonathan Clements on 3/24/2021
FIRST: Roboticus Aquarius on 3/24/2021 | RECENT: Jack Hannam on 6/29
Which financial tasks do you find most irksome?
22 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: Sanjib Saha on 4/5/2021 | RECENT: David Powell on 6/29
What do you wish your younger self knew?
23 replies
AUTHOR: Jonathan Clements on 8/17/2021
FIRST: Sonja Haggert on 8/17/2021 | RECENT: Matt Morse on 6/28
What popular financial advice do you ignore?
40 replies
AUTHOR: Jonathan Clements on 5/14/2021
FIRST: R Quinn on 5/14/2021 | RECENT: Matt Morse on 6/27
What should be the top priorities for those in their 20s?
16 replies
AUTHOR: Jonathan Clements on 8/17/2021
FIRST: R Quinn on 8/17/2021 | RECENT: jay5914 on 6/27
What are your favorite charities?
36 replies
AUTHOR: Jonathan Clements on 4/12/2021
FIRST: Jim Wasserman on 4/14/2021 | RECENT: Matt Morse on 6/27
If you could buy just three funds or less, what would they be?
21 replies
AUTHOR: Jonathan Clements on 3/20/2021
FIRST: John Goodell on 3/20/2021 | RECENT: jay5914 on 6/27
What do you consider your greatest financial achievement?
48 replies
AUTHOR: Jonathan Clements on 3/29/2021
FIRST: Jonathan Clements on 3/29/2021 | RECENT: baldscreen on 6/25
Is a good financial advisor worth 1% of assets per year?
31 replies
AUTHOR: Jonathan Clements on 6/6/2021
FIRST: johntlim on 6/6/2021 | RECENT: DAN SMITH on 6/25
Traditional Medicare or Medicare Advantage?
32 replies
AUTHOR: Jonathan Clements on 11/3/2021
FIRST: Andrew Forsythe on 11/3/2021 | RECENT: Bobby Joseph on 6/25
What dangerous financial myths do you regularly hear?
17 replies
AUTHOR: Jonathan Clements on 10/13/2022
FIRST: Mike Zaccardi on 10/13/2022 | RECENT: H S on 6/24
What’s the best strategy for generating retirement income?
25 replies
AUTHOR: Jonathan Clements on 6/6/2021
FIRST: Rick Connor on 6/12/2021 | RECENT: Kevin Lynch on 6/24
What’s your favorite actively managed fund—if any?
19 replies
AUTHOR: Jonathan Clements on 9/10/2021
FIRST: Sanjib Saha on 9/10/2021 | RECENT: Jonathan Clements on 6/24
What everyday purchase do you consider a bargain?
41 replies
AUTHOR: Jonathan Clements on 3/26/2021
FIRST: Jonathan Clements on 3/26/2021 | RECENT: Purple Rain on 6/24
Is it better to give away money now or upon death?
22 replies
AUTHOR: Jonathan Clements on 3/30/2023
FIRST: Mike Zaccardi on 3/30/2023 | RECENT: JSRMD on 6/24
How would you summarize your financial philosophy?
32 replies
AUTHOR: Jonathan Clements on 3/30/2023
FIRST: Mike Zaccardi on 3/30/2023 | RECENT: Jonathan Clements on 6/23
Which financial companies would you recommend?
33 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: James McGlynn CFA RICP® on 4/5/2021 | RECENT: achnk53 on 6/23
Why do many folks fail to save enough for retirement?
23 replies
AUTHOR: Jonathan Clements on 6/5/2024
FIRST: Mike Zaccardi on 6/5 | RECENT: Lizbeth on 6/22
What’s your most prized possession?
25 replies
AUTHOR: Jonathan Clements on 6/6/2021
FIRST: John Goodell on 6/6/2021 | RECENT: Matt Morse on 6/22
Who most influenced your financial thinking?
20 replies
AUTHOR: Jonathan Clements on 10/13/2022
FIRST: David Sayler on 10/13/2022 | RECENT: Bobby Joseph on 6/22
Is it okay not to leave a tip at a full-service restaurant?
26 replies
AUTHOR: Jonathan Clements on 3/20/2021
FIRST: John Goodell on 3/20/2021 | RECENT: JAY SCATTERGOOD on 6/22
Do you favor Roth or traditional retirement accounts?
24 replies
AUTHOR: Jonathan Clements on 11/3/2021
FIRST: Mike Zaccardi on 11/3/2021 | RECENT: Matt McGuinness on 6/22
What everyday purchase do you consider most overpriced?
19 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: Mike Zaccardi on 5/1/2021 | RECENT: Matt Morse on 6/22
What should investors do about possible higher interest rates?
19 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: Sanjib Saha on 4/6/2021 | RECENT: James McGlynn CFA RICP® on 6/22
When have you regretted paying the lowest cost possible?
12 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: David Powell on 4/4/2021 | RECENT: Matt Morse on 6/22
If you couldn’t buy index funds, how would you invest?
20 replies
AUTHOR: Jonathan Clements on 5/14/2021
FIRST: R Quinn on 5/14/2021 | RECENT: Matt Morse on 6/22
What’s the best way to gauge an investor’s risk tolerance?
7 replies
AUTHOR: Jonathan Clements on 8/17/2021
FIRST: Andrew Forsythe on 8/17/2021 | RECENT: Gary Cahn on 6/22
What do you do that’s financially foolish?
21 replies
AUTHOR: Jonathan Clements on 4/12/2021
FIRST: Rick Connor on 4/19/2021 | RECENT: Ben Rodriguez on 6/22
Are annuities ever worth buying—and, if so, which type?
21 replies
AUTHOR: Jonathan Clements on 4/12/2021
FIRST: James McGlynn CFA RICP® on 4/14/2021 | RECENT: JAY SCATTERGOOD on 6/22
What do you consider your greatest financial mistakes?
22 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: Sanjib Saha on 4/5/2021 | RECENT: JAY SCATTERGOOD on 6/22
Is there a downside to the current popularity of indexing?
23 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: Rick Connor on 4/5/2021 | RECENT: Gary Cahn on 6/22
When have you taken frugality too far?
19 replies
AUTHOR: Jonathan Clements on 6/5/2024
FIRST: Mike Zaccardi on 6/5 | RECENT: Michael Werner on 6/22
What’s the most important financial concept?
36 replies
AUTHOR: Jonathan Clements on 5/14/2021
FIRST: Andrew Forsythe on 5/14/2021 | RECENT: Matt Morse on 6/22
Getting to the Point
7 replies
AUTHOR: Jonathan Clements on 6/20/2024
FIRST: DAN SMITH on 6/20 | RECENT: Aaron Hayes on 6/22
When were you happiest—and what role did money play?
30 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: John Goodell on 4/4/2021 | RECENT: R Quinn on 6/22
Is bitcoin an investment or a speculation?
24 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: Ben Rodriguez on 4/5/2021 | RECENT: John Yeigh on 6/19
Which financial figure would you most like to spend an hour with?
14 replies
AUTHOR: Jonathan Clements on 4/12/2021
FIRST: Ben Rodriguez on 4/15/2021 | RECENT: Ken Begley on 6/6
What financial topic do you find most confusing?
21 replies
AUTHOR: Jonathan Clements on 4/12/2021
FIRST: Ben Rodriguez on 4/15/2021 | RECENT: Ken Begley on 6/6
What are your top financial worries?
21 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: William Ehart on 4/5/2021 | RECENT: Ken Begley on 6/6
Should our values guide our investment choices?
10 replies
AUTHOR: Jonathan Clements on 10/13/2022
FIRST: Mike Zaccardi on 10/13/2022 | RECENT: Ken Begley on 6/6
Is it possible to have too much money?
19 replies
AUTHOR: Jonathan Clements on 6/6/2021
FIRST: John Goodell on 6/6/2021 | RECENT: Ken Begley on 6/6
If you inherited $5 million, how would you use the money?
28 replies
AUTHOR: Jonathan Clements on 3/26/2021
FIRST: Jonathan Clements on 3/26/2021 | RECENT: Ken Begley on 6/6
If you lived your financial life again, what would you change?
20 replies
AUTHOR: Jonathan Clements on 8/17/2021
FIRST: Sonja Haggert on 8/17/2021 | RECENT: Ken Begley on 6/6
How would you define "enough"?
27 replies
AUTHOR: Jonathan Clements on 6/6/2021
FIRST: Rick Connor on 6/12/2021 | RECENT: Ken Begley on 6/6
How has your financial thinking changed over the past year?
27 replies
AUTHOR: Jonathan Clements on 3/20/2021
FIRST: David Powell on 3/20/2021 | RECENT: Ken Begley on 6/6
Does money buy happiness?
25 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: Jim Wasserman on 4/4/2021 | RECENT: Ken Begley on 6/6
Will tax rates increase—and, if so, how should we prepare?
10 replies
AUTHOR: Jonathan Clements on 6/6/2021
FIRST: johntlim on 6/6/2021 | RECENT: Ross Young on 6/1
What’s the best strategy for rebalancing a portfolio?
10 replies
AUTHOR: Jonathan Clements on 11/3/2021
FIRST: Mike Zaccardi on 11/3/2021 | RECENT: L H on 5/25
How much of a stock portfolio should be invested abroad?
43 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: Jonathan Clements on 4/4/2021 | RECENT: William Dorner on 5/18
Which investments will perform worst over the next 10 years?
6 replies
AUTHOR: Jonathan Clements on 6/6/2021
FIRST: johntlim on 6/6/2021 | RECENT: William Dorner on 5/18
Should U.S. investors own foreign bonds?
12 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: Sanjib Saha on 4/5/2021 | RECENT: Kyle Mcintosh on 5/6
How did you get started as an investor?
28 replies
AUTHOR: Jonathan Clements on 4/12/2021
FIRST: Andrew F. on 4/14/2021 | RECENT: William Dorner on 5/5
Which life decisions shouldn’t involve financial considerations?
11 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: Sanjib Saha on 4/5/2021 | RECENT: Doug Kaufman on 4/27
What do other people spend too much money on?
17 replies
AUTHOR: Jonathan Clements on 6/6/2021
FIRST: Jim Wasserman on 6/6/2021 | RECENT: Ginger Williams on 4/21
Are top private colleges worth the cost?
19 replies
AUTHOR: Jonathan Clements on 4/12/2021
FIRST: Jim Wasserman on 4/14/2021 | RECENT: Chuck BV on 4/20
What do you need for a fulfilling retirement?
13 replies
AUTHOR: Jonathan Clements on 6/6/2021
FIRST: Sanjib Saha on 6/6/2021 | RECENT: jerry pinkard on 4/20
What’s the best place to earn a safe yield?
15 replies
AUTHOR: Jonathan Clements on 6/11/2021
FIRST: Rick Connor on 6/12/2021 | RECENT: Jeff on 4/19
What’s the worst financial advice you’ve ever acted on?
17 replies
AUTHOR: Jonathan Clements on 3/20/2021
FIRST: Joe Kesler on 3/20/2021 | RECENT: tshort on 4/13
Are children a good investment?
19 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: Ben Rodriguez on 4/5/2021 | RECENT: Patrick Brennan on 3/30
When does it make sense to buy a home?
8 replies
AUTHOR: Jonathan Clements on 5/14/2021
FIRST: Rick Connor on 5/16/2021 | RECENT: Jeff Amick on 3/23
Should investors own alternative investments?
10 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: David Powell on 4/5/2021 | RECENT: billehart on 3/23
What's the best place to stash money you'll spend soon?
17 replies
AUTHOR: Jonathan Clements on 3/23/2021
FIRST: Mike Zaccardi on 3/23/2021 | RECENT: Mike Zaccardi on 3/3
What's the best strategy for charitable giving?
14 replies
AUTHOR: Jonathan Clements on 3/30/2023
FIRST: Mike Zaccardi on 3/30/2023 | RECENT: Bill Woolf on 3/2
Should children be paid for doing chores?
8 replies
AUTHOR: Jonathan Clements on 3/25/2021
FIRST: Jonathan Clements on 3/25/2021 | RECENT: Rob Thompson on 3/2
How long before retirement should you dial down risk?
14 replies
AUTHOR: Jonathan Clements on 2/7/2022
FIRST: Mike Zaccardi on 2/8/2022 | RECENT: Adam Starry on 2/25
What money advice do you recall hearing from your parents?
18 replies
AUTHOR: Jonathan Clements on 3/30/2023
FIRST: Mike Zaccardi on 3/30/2023 | RECENT: Tim Mueller on 2/24
Should investors tilt toward growth or value?
13 replies
AUTHOR: Jonathan Clements on 3/30/2023
FIRST: Mike Zaccardi on 3/30/2023 | RECENT: Tim Mueller on 2/24
Does it ever make sense to buy actively managed funds?
20 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: Adam Grossman on 4/5/2021 | RECENT: Michael Hennessy on 2/20
Should retirees use a 4% portfolio withdrawal rate?
18 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: David Powell on 4/5/2021 | RECENT: Dennis Hurley on 2/17
What's your favorite tax-savings strategy?
17 replies
AUTHOR: Jonathan Clements on 3/30/2023
FIRST: Mike Zaccardi on 3/30/2023 | RECENT: Boomerst3 on 2/17
What are your favorite financial apps and websites?
23 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: kristinehayes2014 on 4/4/2021 | RECENT: Dennis Hurley on 2/17
What’s the wisest financial advice you’ve ever been given?
19 replies
AUTHOR: Jonathan Clements on 4/12/2021
FIRST: Andrew F. on 4/14/2021 | RECENT: Laurie Phillips on 2/4
Should you buy bond funds or individual bonds?
14 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: Sanjib Saha on 4/6/2021 | RECENT: tshort on 2/3
When is it worth remodeling a home?
11 replies
AUTHOR: Jonathan Clements on 5/14/2021
FIRST: Andrew Forsythe on 5/14/2021 | RECENT: FarOutWest on 1/27
What should you look for when buying a home?
18 replies
AUTHOR: Jonathan Clements on 6/6/2021
FIRST: Rick Connor on 6/12/2021 | RECENT: corrupt on 1/18
What spending brings you greatest happiness?
19 replies
AUTHOR: Jonathan Clements on 3/30/2021
FIRST: Jonathan Clements on 3/30/2021 | RECENT: Klaatu on 1/13
What’s the best way to teach children about money?
9 replies
AUTHOR: Jonathan Clements on 9/10/2021
FIRST: Mike Zaccardi on 9/11/2021 | RECENT: tobinw on 1/6
Which financial tasks do you keep putting off?
21 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: Jim Wasserman on 4/4/2021 | RECENT: L H on 1/6
How do you save money on travel costs?
15 replies
AUTHOR: Jonathan Clements on 9/10/2021
FIRST: Sanjib Saha on 9/10/2021 | RECENT: rightgal on 12/30/2023
When does it make sense to buy the extended warranty, if ever?
33 replies
AUTHOR: Jonathan Clements on 3/20/2021
FIRST: Joe Kesler on 3/20/2021 | RECENT: Michael Hennessy on 12/30/2023
How much emergency money should you hold?
26 replies
AUTHOR: Jonathan Clements on 4/1/2021
FIRST: Jonathan Clements on 4/1/2021 | RECENT: candygirl7 on 12/27/2023
What investment will perform best over the next 10 years?
20 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: Mike Zaccardi on 5/3/2021 | RECENT: Martin McCue on 12/23/2023
What costs are you most loath to pay?
35 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: Sanjib Saha on 4/5/2021 | RECENT: booch221 on 12/16/2023
Does it ever make sense to carry a credit card balance?
11 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: kristinehayes2014 on 4/4/2021 | RECENT: booch221 on 12/16/2023
What’s the best way to collect and use credit card rewards?
15 replies
AUTHOR: Jonathan Clements on 8/17/2021
FIRST: kristinehayes2014 on 8/17/2021 | RECENT: Jeff on 12/13/2023
Is a home a good investment?
16 replies
AUTHOR: Jonathan Clements on 3/20/2021
FIRST: Mike Zaccardi on 3/20/2021 | RECENT: Michael Stewart on 12/10/2023
Should you take pension payments or a lump sum?
18 replies
AUTHOR: Jonathan Clements on 4/25/2021
FIRST: R Quinn on 4/29/2021 | RECENT: Klaatu on 12/2/2023
Is “die broke” a smart retirement strategy?
13 replies
AUTHOR: Jonathan Clements on 4/12/2021
FIRST: Sonja Haggert on 4/15/2021 | RECENT: bhagwan g on 12/2/2023
What criteria should you use to pick a retirement location?
17 replies
AUTHOR: Jonathan Clements on 2/7/2022
FIRST: Mike Zaccardi on 2/8/2022 | RECENT: Christopher James on 11/26/2023
What do you need to be financially independent?
9 replies
AUTHOR: Jonathan Clements on 2/7/2022
FIRST: Mike Zaccardi on 2/8/2022 | RECENT: Cammer Michael on 11/25/2023
What’s the best strategy for getting a good deal on a car?
13 replies
AUTHOR: Jonathan Clements on 5/14/2021
FIRST: Andrew Forsythe on 5/14/2021 | RECENT: Edmund Marsh on 11/23/2023
When is it okay to drop life insurance coverage?
11 replies
AUTHOR: Jonathan Clements on 2/7/2022
FIRST: Mike Zaccardi on 2/8/2022 | RECENT: GaryW on 11/18/2023
Where do you see signs of inflation?
14 replies
AUTHOR: Jonathan Clements on 4/18/2021
FIRST: Jonathan Clements on 5/7/2021 | RECENT: Mark Hirsch on 11/18/2023
What aspect of Wall Street do you find most distasteful?
8 replies
AUTHOR: Jonathan Clements on 3/28/2021
FIRST: Jonathan Clements on 3/28/2021 | RECENT: Jennifer P on 11/12/2023
Do parents have an obligation to pay college costs?
14 replies
AUTHOR: Jonathan Clements on 6/23/2021
FIRST: R Quinn on 6/23/2021 | RECENT: Crystal Flores on 11/11/2023
Is buying a used car always the smarter financial choice?
18 replies
AUTHOR: Jonathan Clements on 2/7/2022
FIRST: Mike Zaccardi on 2/8/2022 | RECENT: Susanne Krivit on 11/11/2023
Should affluent parents insist their children pay college costs?
19 replies
AUTHOR: Jonathan Clements on 4/12/2021
FIRST: Jim Wasserman on 4/14/2021 | RECENT: Rob Thompson on 10/21/2023
Should folks create and follow a written budget?
19 replies
AUTHOR: Jonathan Clements on 3/31/2021
FIRST: Jonathan Clements on 3/31/2021 | RECENT: Kathy C on 10/7/2023
When is renting a home a good idea?
7 replies
AUTHOR: Jonathan Clements on 10/13/2022
FIRST: Kristine Hayes on 10/13/2022 | RECENT: Kathy C on 9/30/2023
What’s the best strategy for selling a house?
9 replies
AUTHOR: Jonathan Clements on 6/6/2021
FIRST: Rick Connor on 6/13/2021 | RECENT: Crystal Flores on 9/17/2023
Which aspect of the tax code do you hate the most?
29 replies
AUTHOR: Jonathan Clements on 4/12/2021
FIRST: Andrew F. on 4/14/2021 | RECENT: Michael Hennessy on 9/16/2023
Do we talk too little about our personal finances—or too much?
15 replies
AUTHOR: Jonathan Clements on 8/17/2021
FIRST: Sonja Haggert on 8/17/2021 | RECENT: jerry pinkard on 9/16/2023
What are the hallmarks of a good financial advisor?
8 replies
AUTHOR: Jonathan Clements on 6/6/2021
FIRST: William Ehart on 6/8/2021 | RECENT: Kathy C on 9/2/2023
Would you risk your finances to help your retired parents?
8 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: John Goodell on 4/4/2021 | RECENT: Edmund Marsh on 8/27/2023
How often do you check your portfolio and the markets?
18 replies
AUTHOR: Jonathan Clements on 8/17/2021
FIRST: R Quinn on 8/17/2021 | RECENT: Chuck BV on 8/26/2023
What stock would you happily hold for the next 10 years?
30 replies
AUTHOR: Jonathan Clements on 8/17/2021
FIRST: Sonja Haggert on 8/17/2021 | RECENT: Lehman Brown on 8/26/2023
Is it okay to retire with debt?
21 replies
AUTHOR: Jonathan Clements on 4/12/2021
FIRST: Rick Connor on 4/14/2021 | RECENT: tshort on 8/19/2023
What do you spend too much money on?
12 replies
AUTHOR: Jonathan Clements on 6/6/2021
FIRST: Sanjib Saha on 6/6/2021 | RECENT: Susanne Krivit on 8/12/2023
Can the market be beaten?
21 replies
AUTHOR: Jonathan Clements on 4/12/2021
FIRST: Joe Kesler on 4/14/2021 | RECENT: alex scott on 8/5/2023
When does it make sense to hire a financial advisor?
13 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: James McGlynn CFA RICP® on 4/5/2021 | RECENT: Marisol Aldahondo on 8/2/2023
How much financial help should parents give their children?
24 replies
AUTHOR: Jonathan Clements on 3/20/2021
FIRST: Kristine Hayes on 3/20/2021 | RECENT: Tom Dee on 7/29/2023
What’s your No. 1 goal for retirement?
26 replies
AUTHOR: Jonathan Clements on 3/20/2021
FIRST: William Ehart on 3/20/2021 | RECENT: Patrick Brennan on 7/29/2023
When should parents stop supporting their adult children?
11 replies
AUTHOR: Jonathan Clements on 4/12/2021
FIRST: Joe Kesler on 4/14/2021 | RECENT: Patrick Brennan on 7/1/2023
What would you happily buy even if it were twice the price?
13 replies
AUTHOR: Jonathan Clements on 5/14/2021
FIRST: kristinehayes2014 on 5/14/2021 | RECENT: Captain FI on 6/20/2023
Is it wise for everyday investors to buy individual stocks?
17 replies
AUTHOR: Jonathan Clements on 3/20/2021
FIRST: William Ehart on 3/20/2021 | RECENT: Captain FI on 6/20/2023
Is rental real estate a good investment?
13 replies
AUTHOR: Jonathan Clements on 5/14/2021
FIRST: Andrew Forsythe on 5/14/2021 | RECENT: Captain FI on 6/20/2023
How much allowance should children receive?
7 replies
AUTHOR: Jonathan Clements on 4/12/2021
FIRST: Catherine on 5/20/2021 | RECENT: Bruce Keller on 4/30/2023
Should political views influence how we invest?
5 replies
AUTHOR: Jonathan Clements on 8/17/2021
FIRST: John Goodell on 8/17/2021 | RECENT: Bruce Keller on 4/30/2023
When does leasing a car make financial sense?
12 replies
AUTHOR: Jonathan Clements on 4/12/2021
FIRST: Rick Connor on 4/22/2021 | RECENT: Bruce Keller on 4/30/2023
What purchase do you most regret?
20 replies
AUTHOR: Jonathan Clements on 3/20/2021
FIRST: John Goodell on 3/20/2021 | RECENT: mjflack on 4/23/2023
Is term life insurance always better than cash value?
7 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: Joe Kesler on 4/5/2021 | RECENT: Mark Eckman on 4/1/2023
What obligations do we have to our heirs?
10 replies
AUTHOR: Jonathan Clements on 8/17/2021
FIRST: R Quinn on 8/17/2021 | RECENT: alex scott on 11/6/2022
What financial advice would you give to those in their early 20s?
16 replies
AUTHOR: Jonathan Clements on 4/2/2021
FIRST: Jonathan Clements on 4/2/2021 | RECENT: Philip Stein on 7/9/2022
Which financial markets are in a bubble, if any?
6 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: David Powell on 4/5/2021 | RECENT: Kurt S on 7/17/2021
If you want long-run growth, is there an alternative to stocks?
5 replies
AUTHOR: Jonathan Clements on 4/4/2021
FIRST: John Goodell on 4/4/2021 | RECENT: Mike Zaccardi on 4/20/2021
THIS IS MY FIRST contribution to HumbleDollar. It may well be my last, for I am no longer old. Rather, I’m ancient and on my way to being archaic.
The vicissitudes of investing are behind me. I now invest for fun, for the data analysis, for following the impact of macro world events on economies, for the thrill of the market rollercoaster, for the intellectual challenge, for the exercise of discipline,
MONEY CONVERSATIONS are part of my daily life. I’ve written a personal finance blog for five years and recorded a related podcast for three years. I work full-time for a fiduciary financial planning firm. All of these activities expose me to folks seeking to improve their financial literacy.
I love talking money. But the more “money talks” I have, the more I see that people overlook the most fundamental principle of personal finance. What principle?
LAST YEAR WAS OUR first full year living solely off our portfolio, with no paycheck coming in.
How did it go? It was a vast improvement from 2022, when we not only retired, but also got hit with high inflation, tumbling bond prices and a sharp stock market decline. We were looking at sequence-of-return risk—that perfect storm of rising living costs and a shrinking portfolio that can derail those early in retirement—and I can recall feeling a bit panicked.
“WE CANNOT GET RICH doing dentistry, but we can get rich investing what we make in dentistry.” A nationally recognized lecturer on dental-practice management shared that piece of advice with me some 40 years ago.
I’d been out of dental school for a year when Dr. Dick Klein spoke at our local dental society’s annual meeting. The meeting’s organizer was a friend. He asked if my wife and I would take Klein and his wife out to dinner after his presentation.
MY FATHER LEFT US—my mother, sister, brother and me—in 1951, when I was age 10. With the help of her parents, my mother managed to raise us three children until we each got married. I knew I wasn’t as well off as many of my parochial school classmates, but I never felt poor. Still, we didn’t waste a cent, and that became a lifelong habit.
It’s been a long journey since then—service in the Army and Army Reserves,
WE OFTEN IMAGINE WE know something about the future that’s unknowable—and the result can be costly investment mistakes. Below is an edited excerpt from the new book “From Zero to Millionaire: A Simple, Effective, and Stress-Free Way to Invest in the Stock Market,” published by Harriman House.
“I don’t think the United States is going to survive.”
Several years ago, I was having lunch with a friend in a San Francisco restaurant when he made this confession.
I RETIRED ALMOST TWO years ago, at age 56. My wife, who is nine years younger, decided to semi-retire so we could relocate from Rhode Island to Florida. We were able to afford early retirement in part because we’d lived below our means for many years, diligently saving while also paying off our mortgage and other debts.
Relocating to a state with a lower cost of living and lower taxes also helped. In addition,
DURING MY FINAL NINE years with the Coast Guard, I was involved in decisions regarding search-and-rescue operations. We were almost always working with imperfect information. For three of those nine years, I was responsible for all missions in one section of the Great Lakes and, in my last year, I made the final decision on when to suspend search-and-rescue operations in an even larger area.
To lower risk, we often assumed the worst, and threw copious operational resources at the situation.
WHEN I WAS IN COLLEGE, working toward a bachelor’s degree in music education, a friend’s dad told me about Vanguard Group. I’d never heard of Vanguard, and I had no idea what a mutual fund was.
I did some research on the firm and its founder, John Bogle, and read his book Bogle on Mutual Funds. Soon after, at age 19, I opened an IRA at Vanguard and thereafter contributed the maximum allowed every year.
I SAID GOODBYE TO my career in the retail industry nearly five years ago, at age 39. I’d had my eye on early retirement as soon as I entered the workforce.
My first job out of college was with an upstart retailer, where I worked 80-hour weeks for many years as I sought to improve my skills, knowledge and reputation. I did well, earned multiple promotions, and had high hopes for a life-changing payout from the company’s planned initial stock offering.
MANY FOLKS—ESPECIALLY those still working—think retirement is “living the good life.” The truth is, unless you develop a solid plan for how to enjoy your newly available time, life after retirement can be filled with bouts of boredom, anxiety and even depression. My objective: Forewarn recent and soon-to-be retirees of the emotional dangers that lie ahead—and to suggest a road to a successful retirement.
Retirement isn’t a destination but a journey with three key stops.
LIKE MANY OF MY generation, I grew up in a family that never talked about money. I had some sense that I should save, but no sense of where to save. This made me susceptible to a lot of advice—both good and bad—that shaped my financial journey.
I married a teacher and I became a school-based speech pathologist. I knew we’d never be rich, but we would have a comfortable life. In those early days,
AS I PREPARE FOR retirement, I’ve been reminded that I should “retire into something,” that I should use my anticipated free time for a meaningful purpose. During the past couple of years, I’ve discovered that—for me—one of those “somethings” is to care for “the farm,” 200 acres of rolling countryside in western Tennessee. This discovery has been both surprising and delightful for me, and has led to a reconnection with the farm and, through that reconnection,
FOR MUCH OF MY ADULT life, I’ve read about marriages in turmoil because the wife earns more than her husband. That’s always bewildered me, because I spent most of my career being a very happy trailing spouse.
My wife and I met in our early 30s while trying to rescue a three-year-old stuck on an elevator. This was more than three decades ago. I was divorced and working as a journalist, and had taken my son with me when I needed to drop by the newsroom early one weekday evening.
I GRADUATED FROM the University of Central Florida in 2001 with a degree in information management systems. Thanks to academic scholarships, working part-time and family support, I graduated debt-free and, indeed, had some $15,000 in savings. Amid the economic turmoil of the dot-com bust and subsequent recession, I was fortunate to land a fulltime job at Fiserv, a banking software company.
That’s where I met my wife. We were engaged six months later and married in 2002.
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Comments:
At Citi, I was director of financial education for the U.S. wealth management business. Can we assume you're in favor of educating clients? Can we also assume you're a fee-only advisor who is held to a fiduciary standard?
Post: What We Believed
Link to comment from September 1, 2024
How do you balance Roth conversions against maximizing ACA credits? Do you have a maximum income you target and, if so, what is it?
Post: Year end action items?
Link to comment from August 31, 2024
A value-added tax (VAT), like all sales taxes, is considered regressive because those with lower incomes tend to spend a higher percentage of their income, so the sales tax ends up taking more of their income.
Post: Quinn ponders a taxing situation. Loopholes and such. Is there a better way?
Link to comment from August 30, 2024
Hmmm. Folks talk about income inequality all the time -- in fact, I suspect they talk about income inequality more often than wealth inequality, in part because stats on income inequality are more readily available.
Post: Quinn ponders a taxing situation. Loopholes and such. Is there a better way?
Link to comment from August 30, 2024
I assume bbbobbins was just trying to prove my point about initialisms! Incidentally, the reason I use "initialisms" is because an acronym is an initialism that gets sounded out like a word e.g. NASA. Not all initialisms are acronyms. https://www.merriam-webster.com/grammar/whats-an-acronym
Post: Rules of the Road by Jonathan Clements
Link to comment from August 30, 2024
So much depends on both the investor and the advisor. If you combine an ignorant investor with an unscrupulous advisor, all kinds of mayhem can result. Favoring fee-only fiduciaries will help. But before an investor walks into an advisor's office, he or she needs at least some financial education. All too many, alas, go in totally ignorant -- which is astonishing when you think of the financial stakes involved.
Post: I Ain’t Stupid Ya Know
Link to comment from August 29, 2024
You might find these two links helpful: https://humbledollar.com/money-guide/cash-investments/ https://humbledollar.com/money-guide/step-3-cover-cash-needs/ If you're over age 59 1/2, and hence not subject to tax penalties on IRA withdrawals, using your traditional IRA to hold your cash is fine. If younger, you should use a regular taxable account.
Post: Start Here, Go Anywhere
Link to comment from August 29, 2024
You're right about claiming your own benefit. But FRA does matter for spousal benefits -- a spouse's check is no larger if he or she delays beyond his or her FRA.
Post: Working for Free by Ken Cutler
Link to comment from August 27, 2024
In many of the answers below, folks talk about using trusts to distribute money over time (as opposed to a trust simply for probate avoidance). That's necessary if money is left to a child who hasn't yet reached the age of majority. But in other instances, I get a little queasy thinking about the ongoing legal and money management fees. Have folks figured out a good way to minimize those fees?
Post: Connor asks – How young is too young to receive an inheritance?
Link to comment from August 27, 2024
If folks give during their lifetime and live another year, the recipients would be spared the inheritance tax. If it makes financial sense, those with traditional IRAs might also convert to Roths. That wouldn't help with the inheritance tax, but it would relieve beneficiaries of paying income taxes.
Post: A Time to Give
Link to comment from August 26, 2024