Counterpoint- I purchased a brand new pair of Bostonian oxfords, maroon in color for about $20, about 25 years ago. I liked them so much I bought a black pair, but they were only reduced to $35. The black ones were go to shoes for my work environment for a couple decades. I spent ~$150 combined to replace the leather soles and rubber heels multiple times. I wondered if it was a prudent decision to keep spending so much more than the original cost. Then I shopped for equal quality and comfort in new shoes, and I found they were around $250 and could not be re-soled due to the rubber soles.
I therefore succeeded in exercising my frugal muscle and got the maximum value out of a relatively paltry investment. And I supported small local businesses, making a modest living for their family. I call that a win-win.
I've trashed the black shoes as I felt they were no longer worth repairing, or needed for work. I'll be wearing the maroon ones (original heel/sole) later this year in my son's wedding.
Car geek here. It's always fascinating to hear others reactions to the car buying process and the new vs. used decision. My wife and I have different thoughts and needs, so we end up buying personal transportation, her car and my car.
Interesting story about our most recent purchase, November of 25. We bought a RAV4 XSE Hybrid AWD for my wife. We paid MSRP plus a modest doc fee after using the internet best "out the door price" method. There were exactly zero new cars to test drive that met these requirements in the entire metropolitan area of St Louis MO. Not a small town. So we test drove a used one, and ordered new. Hybrids are in demand and command a higher price these days.
Here's the interesting part, why we bought the car. Our younger son drove a low mileage pickup truck, but was tired of the parking hassle and gas consumption. Our older son wanted a pickup truck, but could only afford a high mileage one. So we traded our 6 year old luxury SUV (Acura RDX) for the truck with our son, based upon an agreed up wholesale value that lined up as the same value. He's been happy with the luxury, smaller size and better mileage. Our other son agreed to buy the truck from us (in advance) at a favorable interest rate (4.1%) with a payment he could work with, he sold his old car and used the funds as a down payment.
After financing the new RAV4 through our credit union, we ended up paying off the car this Spring, using taxable account funds. The truck buying son sold his house and paid off the car which we used to offset some of the funds withdrawal. Everyone got what they wanted!
Joan, thanks for sharing your portfolio detail. It sounds like your thinking is similar to mine. But you've done a better job measuring performance against the index. My Bond ETF portfolio is less than a year old.
Like you described, I also use BND for a core holding, but I decided to to mix it with BNDP when Vanguard announced it. So I hold 32% BND, 36% BNDP, and the32% balance is split between a couple targeted Bond ETFs to try and avoid correlation of returns across investments. So I use a total of four Bond ETFs in the portfolio.
I don't mind saying that I have no idea if this is the right path to take, but I've been satisfied with the results.
Like a pair of pliers, or a CNC machine, money is no more than a tool. I frequently need to reset my priorities. Am I building a portfolio, or a home? Am I growing my influence, or the kingdom of God? What is the status of my accounts, or what is the status of my heart? Mark, thanks for the reminder to set aside the things of the moment, so I can focus on things that last.
Javier,
Great job of stimulating discussion! I'm interested in responding to question 2, but first..
I'm on my third advisor. The first two we AUM based and CFPs, and I let them go because they didn't quite meet my needs. For less than a year now, I've been with a flat fee advisor and so far so good. I'm not sure my financial position is any better as a result, but I have learned a bunch as I head toward retirement in the next couple of years.
I think an important answer here revolves around the emotional feelings that people have about their money. This isn't a pretty picture, but I think it's true for many. Often we are our own worst enemy.
a. Men in particular, at times can behave very self-sufficient, unwilling to get help, and unwilling to admit that they made mistakes or bad decisions. Why would I want to present my most intimate financial details to someone who would belittle what I've done? I'm fine, I don't need any help.
b. Trust issues. There are countless stories of those (usually famous people like Billy Joel) who have been used and abused financially. If I give you access to my money why should I believe you'll do the best thing for me and not steal from me?
This is timely for me! We closed on our new house, halfway across the country on 4/18. We finally had our household goods delivered last Friday May 29, after a 10 day delay. That was costly. Right now I'm surfing HD while on the phone with AT&T who has been unable to set up Internet since 4/19. I work from home, so thankfully the hotspot on my phone has been effective. Just a few random drops. Unlike your efficient process, we continue to have partially unpacked boxes strewn across the home, and are dealing with associated stress.
Life is good!
Like others here, I have landed with a flat fee advisor. I worked with a couple of AUM advisors, and was uncomfortable with the value proposition.
I heard Morningstar's Christine Benz interview a representative from Abundo, and engaged one of their advisors. Not perfect, but good to work with. I have many questions, and they answer them all, and generally find the advice to be sound, often better than my own thoughts. They don't make any trades, I have to execute them myself, so every option has it's limitations.
With my kid's help, my wife would be more than capable of managing our finances in my absence, but it is comforting to know there is a trusted advisor who knows us, ready to help through uncertainty.
This is not an endorsement or suggestion that my flat fee advisor is better than any other, just a recommendation to consider flat fee as an alternation solution.
I have observed that things that used to be considered luxuries are standard or baseline.
My Dad was a music buff, he thought Karen Carpenter was the bomb. He returned from Vietnam and bought a new 1974 Dodge Dart and was just delighted to have an under-dash cassette tape player to listen to his favorite music. It was a luxury to him, one of few he allowed himself.
Now people feel that wired connectivity to the music apps on their phones just isn't good enough compared to wireless, but it's so much better than just a few years ago.
The proliferation of luxury features in our consumer mindset is a huge contributor to inflation. On many products, you can no longer find a simple manual system, everything is "smart."
I don't object to the development of labor saving features, I object to the dependence on it. I'm probably guilty of this like anyone else, but I miss the days where you had to WORK for the fancy stuff. Or just do without.
Boy you really kicked a hornet's nest here! Debt is a pretty serious subject to many here. And I expect we've all known folks that have been hurt by their debt. I had a HELOC for a long time, it was used to pay for a kitchen remodel. I was in no position to save up for it at the time. I retired the HELOC when I took out a second mortgage. That's a long story... IMHO, debt is a tool. Like any other tool there are right ways and wrong ways to use it. Generally, I'm opposed to debt, but I've used many 90-365 days same as cash loans, car loans, as well as the home loans. What I'm really opposed to are subscriptions. I despise paying a monthly or annual fee without any clear value being delivered (exception is a magazine or newpaper, those are great if you read them, and cancel them if you stop). In terms of the $50-75 annual fee to maintain it, that's pretty cheap. If you are conservative and only spend $4000/mo, $75 is 15 basis points. No way if that were a monthly fee. If you lose your job and think you need a loan to support your family, you should be darned sure that you are still employable. Bottom line for me is; If you don't know how or when you'll be paying back a loan, you shouldn't get one.
Hi Rob,
I'm hearing that you have too much income and pay too much taxes. Not really a problem in my view.
At 35% I wouldn't do a conversion either. I would want to find a way to reduce RMDs. It may be too late for you, but my best suggestion is to ramp up your gifting. In addition to charity, you can give a certain amount to others, for me it is my children. I think the max is around $30,000 each for you and your spouse per year. A small amount like that probably won't impact your tax bracket. I look at it that my residual funds will go to them anyway, and this reduces the potential tax bomb.
Of course, make sure to keep enough to cover your needs, especially long term care. Sorry, no criticism from me. Best wishes to you and your family.
John
Comments
Counterpoint- I purchased a brand new pair of Bostonian oxfords, maroon in color for about $20, about 25 years ago. I liked them so much I bought a black pair, but they were only reduced to $35. The black ones were go to shoes for my work environment for a couple decades. I spent ~$150 combined to replace the leather soles and rubber heels multiple times. I wondered if it was a prudent decision to keep spending so much more than the original cost. Then I shopped for equal quality and comfort in new shoes, and I found they were around $250 and could not be re-soled due to the rubber soles. I therefore succeeded in exercising my frugal muscle and got the maximum value out of a relatively paltry investment. And I supported small local businesses, making a modest living for their family. I call that a win-win. I've trashed the black shoes as I felt they were no longer worth repairing, or needed for work. I'll be wearing the maroon ones (original heel/sole) later this year in my son's wedding.
Post: You Heel!
Link to comment from August 29, 2026
Car geek here. It's always fascinating to hear others reactions to the car buying process and the new vs. used decision. My wife and I have different thoughts and needs, so we end up buying personal transportation, her car and my car. Interesting story about our most recent purchase, November of 25. We bought a RAV4 XSE Hybrid AWD for my wife. We paid MSRP plus a modest doc fee after using the internet best "out the door price" method. There were exactly zero new cars to test drive that met these requirements in the entire metropolitan area of St Louis MO. Not a small town. So we test drove a used one, and ordered new. Hybrids are in demand and command a higher price these days. Here's the interesting part, why we bought the car. Our younger son drove a low mileage pickup truck, but was tired of the parking hassle and gas consumption. Our older son wanted a pickup truck, but could only afford a high mileage one. So we traded our 6 year old luxury SUV (Acura RDX) for the truck with our son, based upon an agreed up wholesale value that lined up as the same value. He's been happy with the luxury, smaller size and better mileage. Our other son agreed to buy the truck from us (in advance) at a favorable interest rate (4.1%) with a payment he could work with, he sold his old car and used the funds as a down payment. After financing the new RAV4 through our credit union, we ended up paying off the car this Spring, using taxable account funds. The truck buying son sold his house and paid off the car which we used to offset some of the funds withdrawal. Everyone got what they wanted!
Post: Buying a car in retirement
Link to comment from July 16, 2026
Joan, thanks for sharing your portfolio detail. It sounds like your thinking is similar to mine. But you've done a better job measuring performance against the index. My Bond ETF portfolio is less than a year old. Like you described, I also use BND for a core holding, but I decided to to mix it with BNDP when Vanguard announced it. So I hold 32% BND, 36% BNDP, and the32% balance is split between a couple targeted Bond ETFs to try and avoid correlation of returns across investments. So I use a total of four Bond ETFs in the portfolio. I don't mind saying that I have no idea if this is the right path to take, but I've been satisfied with the results.
Post: Can one “core” total bond ETF replace the complexity of your bond holdings?
Link to comment from June 14, 2026
Like a pair of pliers, or a CNC machine, money is no more than a tool. I frequently need to reset my priorities. Am I building a portfolio, or a home? Am I growing my influence, or the kingdom of God? What is the status of my accounts, or what is the status of my heart? Mark, thanks for the reminder to set aside the things of the moment, so I can focus on things that last.
Post: A Sunday Thought About Money
Link to comment from June 14, 2026
Javier, Great job of stimulating discussion! I'm interested in responding to question 2, but first..
- I'm on my third advisor. The first two we AUM based and CFPs, and I let them go because they didn't quite meet my needs. For less than a year now, I've been with a flat fee advisor and so far so good. I'm not sure my financial position is any better as a result, but I have learned a bunch as I head toward retirement in the next couple of years.
- I think an important answer here revolves around the emotional feelings that people have about their money. This isn't a pretty picture, but I think it's true for many. Often we are our own worst enemy.
a. Men in particular, at times can behave very self-sufficient, unwilling to get help, and unwilling to admit that they made mistakes or bad decisions. Why would I want to present my most intimate financial details to someone who would belittle what I've done? I'm fine, I don't need any help. b. Trust issues. There are countless stories of those (usually famous people like Billy Joel) who have been used and abused financially. If I give you access to my money why should I believe you'll do the best thing for me and not steal from me?Post: The Quiet Failure of Good Advice
Link to comment from June 4, 2026
This is timely for me! We closed on our new house, halfway across the country on 4/18. We finally had our household goods delivered last Friday May 29, after a 10 day delay. That was costly. Right now I'm surfing HD while on the phone with AT&T who has been unable to set up Internet since 4/19. I work from home, so thankfully the hotspot on my phone has been effective. Just a few random drops. Unlike your efficient process, we continue to have partially unpacked boxes strewn across the home, and are dealing with associated stress. Life is good!
Post: Moving is Expensive!
Link to comment from June 4, 2026
Like others here, I have landed with a flat fee advisor. I worked with a couple of AUM advisors, and was uncomfortable with the value proposition. I heard Morningstar's Christine Benz interview a representative from Abundo, and engaged one of their advisors. Not perfect, but good to work with. I have many questions, and they answer them all, and generally find the advice to be sound, often better than my own thoughts. They don't make any trades, I have to execute them myself, so every option has it's limitations. With my kid's help, my wife would be more than capable of managing our finances in my absence, but it is comforting to know there is a trusted advisor who knows us, ready to help through uncertainty. This is not an endorsement or suggestion that my flat fee advisor is better than any other, just a recommendation to consider flat fee as an alternation solution.
Post: Financial Planning
Link to comment from April 24, 2026
I have observed that things that used to be considered luxuries are standard or baseline. My Dad was a music buff, he thought Karen Carpenter was the bomb. He returned from Vietnam and bought a new 1974 Dodge Dart and was just delighted to have an under-dash cassette tape player to listen to his favorite music. It was a luxury to him, one of few he allowed himself. Now people feel that wired connectivity to the music apps on their phones just isn't good enough compared to wireless, but it's so much better than just a few years ago. The proliferation of luxury features in our consumer mindset is a huge contributor to inflation. On many products, you can no longer find a simple manual system, everything is "smart." I don't object to the development of labor saving features, I object to the dependence on it. I'm probably guilty of this like anyone else, but I miss the days where you had to WORK for the fancy stuff. Or just do without.
Post: Enough complaining already. Live your life and stop worrying about “they” “ them” or things
Link to comment from April 24, 2026
Boy you really kicked a hornet's nest here! Debt is a pretty serious subject to many here. And I expect we've all known folks that have been hurt by their debt. I had a HELOC for a long time, it was used to pay for a kitchen remodel. I was in no position to save up for it at the time. I retired the HELOC when I took out a second mortgage. That's a long story... IMHO, debt is a tool. Like any other tool there are right ways and wrong ways to use it. Generally, I'm opposed to debt, but I've used many 90-365 days same as cash loans, car loans, as well as the home loans. What I'm really opposed to are subscriptions. I despise paying a monthly or annual fee without any clear value being delivered (exception is a magazine or newpaper, those are great if you read them, and cancel them if you stop). In terms of the $50-75 annual fee to maintain it, that's pretty cheap. If you are conservative and only spend $4000/mo, $75 is 15 basis points. No way if that were a monthly fee. If you lose your job and think you need a loan to support your family, you should be darned sure that you are still employable. Bottom line for me is; If you don't know how or when you'll be paying back a loan, you shouldn't get one.
Post: Advice I give to anyone who’ll listen!
Link to comment from January 31, 2026
Hi Rob, I'm hearing that you have too much income and pay too much taxes. Not really a problem in my view. At 35% I wouldn't do a conversion either. I would want to find a way to reduce RMDs. It may be too late for you, but my best suggestion is to ramp up your gifting. In addition to charity, you can give a certain amount to others, for me it is my children. I think the max is around $30,000 each for you and your spouse per year. A small amount like that probably won't impact your tax bracket. I look at it that my residual funds will go to them anyway, and this reduces the potential tax bomb. Of course, make sure to keep enough to cover your needs, especially long term care. Sorry, no criticism from me. Best wishes to you and your family. John
Post: Tell me my error in thinking
Link to comment from January 16, 2026