As always, an enjoyable missive. My wife and I have been to several of these type presentations and our table mates are usually simpatico with our intention of just enjoying the steak and ignoring the pitch.
I've managed our stock investments since 1974 when I bought my first share. However, my wife has NO interest in investments. Therefore, as I approach 80, I've handed over half of our portfolio to a professional at a firm whose principles I've followed on their radio show since 1995. They've done a very good job for 3 years. My wife will transfer the other 50% when I'm no longer capable.
I used to take a scissors and cut open the toothpaste tube, unfold it, and use my toothbrush to scrape out the last of the paste. Now, I no longer need to save the last penny.
That's very true -- bigger problems. Recall that it took from 1929 to about 1945 for that come back. Sixteen years for someone retiring in '29 would usually have been a lifetime.
After reading most of the comments below, I couldn't help but think about inflation. Yes, some of the increases far exceed US inflation, but others not so much. Location, location, location is mostly the driving factor. I've had to move (the Air Force doesn't want you to stay in the same location very long) a lot. Ohio residence increased a very small amount; Florida a modest amount, Califoria-huge, other places in between. Luck of timing also plays its part.
Doug,
Thanks for the suggestion. I use about 50 different passwords and don't use qwerty+digits anymore. All of them conform to: upper, lower, special character and number, but are rarely longer than 9 or 10 keystrokes. What do you think of using those google Chrome recommended multi-character passwords that show up every once in a while when I go to some new site? (I use Chrome, Firefox, Opera, and Safari for various sites...do you recommend one more than another?)
Great article. As I approach 80, I've done almost all of the things that you've done. The main thing that I've purposely not done is to commit my passwords to an online secure site. I have four 8x10 pages of sites/passwords that are roughly categorized and updated about 3 times a year. Call me paranoid or overly cautious, but with all the compromised (once secure) websites that I've noted over the last two dozen years, I sleep well. I also switched everything to an Apple computer in 2012 after having used Microsoft stuff since 1991.
My accountant said that because of quirk in the law, taking a large $ amount at the end of the year and having that large $ amount withheld for Fed taxes is looked at by the IRS as having been evenly withheld throughout the year...so no penalty.
I've recently moved 2/3 of our investable $ to a money mgmt. firm that I've assiduously followed for 28 years. Being risk averse, has resulted in my less than stellar performance, but I have avoided the gut wrenching downturns and sleep well. My better half has NO interest in managing assets so as we approach our 8th decade, it is a far, far better thing that I have done. (Trading commodity futures in the '80s taught me how to make a small fortune...e.g. start with a large fortune)
Comments
As always, an enjoyable missive. My wife and I have been to several of these type presentations and our table mates are usually simpatico with our intention of just enjoying the steak and ignoring the pitch.
Post: The Vision, the Babe , Einstein and the Q
Link to comment from April 29, 2026
I've managed our stock investments since 1974 when I bought my first share. However, my wife has NO interest in investments. Therefore, as I approach 80, I've handed over half of our portfolio to a professional at a firm whose principles I've followed on their radio show since 1995. They've done a very good job for 3 years. My wife will transfer the other 50% when I'm no longer capable.
Post: One Good Call?
Link to comment from April 18, 2026
I used to take a scissors and cut open the toothpaste tube, unfold it, and use my toothbrush to scrape out the last of the paste. Now, I no longer need to save the last penny.
Post: Penny Wise, Pound Foolish
Link to comment from April 18, 2026
That's very true -- bigger problems. Recall that it took from 1929 to about 1945 for that come back. Sixteen years for someone retiring in '29 would usually have been a lifetime.
Post: Carrying Humble Dollar Forward
Link to comment from April 12, 2026
After reading most of the comments below, I couldn't help but think about inflation. Yes, some of the increases far exceed US inflation, but others not so much. Location, location, location is mostly the driving factor. I've had to move (the Air Force doesn't want you to stay in the same location very long) a lot. Ohio residence increased a very small amount; Florida a modest amount, Califoria-huge, other places in between. Luck of timing also plays its part.
Post: The Home Ownership Gamble
Link to comment from April 11, 2026
Doug, Thanks for the suggestion. I use about 50 different passwords and don't use qwerty+digits anymore. All of them conform to: upper, lower, special character and number, but are rarely longer than 9 or 10 keystrokes. What do you think of using those google Chrome recommended multi-character passwords that show up every once in a while when I go to some new site? (I use Chrome, Firefox, Opera, and Safari for various sites...do you recommend one more than another?)
Post: Simplify Everything
Link to comment from April 5, 2026
Great article. As I approach 80, I've done almost all of the things that you've done. The main thing that I've purposely not done is to commit my passwords to an online secure site. I have four 8x10 pages of sites/passwords that are roughly categorized and updated about 3 times a year. Call me paranoid or overly cautious, but with all the compromised (once secure) websites that I've noted over the last two dozen years, I sleep well. I also switched everything to an Apple computer in 2012 after having used Microsoft stuff since 1991.
Post: Simplify Everything
Link to comment from April 5, 2026
Most people really don't know what fear is. I do, when I shorted orange juice futures just before a long freeze.
Post: Time to Be Fearful
Link to comment from March 28, 2026
My accountant said that because of quirk in the law, taking a large $ amount at the end of the year and having that large $ amount withheld for Fed taxes is looked at by the IRS as having been evenly withheld throughout the year...so no penalty.
Post: RMDs, account withdrawals, 4% simplified- MAYBE?
Link to comment from January 19, 2026
I've recently moved 2/3 of our investable $ to a money mgmt. firm that I've assiduously followed for 28 years. Being risk averse, has resulted in my less than stellar performance, but I have avoided the gut wrenching downturns and sleep well. My better half has NO interest in managing assets so as we approach our 8th decade, it is a far, far better thing that I have done. (Trading commodity futures in the '80s taught me how to make a small fortune...e.g. start with a large fortune)
Post: Index Fund Bubble
Link to comment from December 6, 2025