Kevin Lynch

Comments:

• I recently had a T-Shirt Designed. It is black and has the following printed in large white letters on the front,"VTI...Until I Die!" Article after article, book after book, study after study, and yet 94% of the time professional investors do not even manage to "beat the S&P 500." I have 90% on my invested dollars in VTI, 5% in BRK-B, and 5% in VXUS. No Bonds, because I also own annuities for safe and reliable, guaranteed income. 24 months of cash and that is my entire portfolio. SS covers 111% of our non-discretionary retirement income, so at age 74 and 70, we are quite comfortable with our future's outlook. Growth, Value, Sectors, Tilts...I own them all in one investment VTI. Life on Earth is good.

  Post: Growth Isn’t Enough

  Link to comment from October 1, 2024

• David: Your story gave me a couple of great memories about my mom. My father was a career soldier. He served in the US Army in WWII, Korea, and Viet Nam. He retired in 1974, as the CSM of US Army Special Forces. He was the highest ranking enlisted Green Beret in the Army. Throughout their marriage, my dad always had a "War Bond" deducted from his pay. (The name stuck with him throughout his career, although they weren't really War Bonds after 1946.) My mom kept those Bonds in a shoe box and over the years the box got fuller and fuller. By the time my dad retired, the box was full. I do not know exactly how much was in the shoe box, but when my mom passed away in 2010, after having been widowed for 30 years (my dad passed in 1980, 6 years into his retirement,) living on his military retirement and social security, my mother had over $215,000 in CDs, and I am pretty sure those CDs were purchased with some of those Bonds. To say my mom was frugal would be an understatement. She was a German by birth, marrying my father in 1958, after he and my mother divorced in 1956. She married my dad, who had 5 children when they married, and she raised us as her own. She had the ability to stretch a dollar in ways unimaginable today. I got my savings education from her, as well as the belief in myself that was never received from any of the teachers I had thought my primary education years. We all love our mom's but I know I loved her, at least a little bit more than most. As Bob Hope use to say, "Thanks for the Memories."

  Post: He Spent, I Saved

  Link to comment from October 1, 2024

• With no disrespect to Dr.Lim, any research and any diet recommendation that diminishes the value of meat in one's diet is automatically suspect. With Medicine today, in the pocket of "Big Pharmaceutical," and the fact that the US Government's Food Pryamid was created by practitioners of the Seventh Day Adventist faith, decades ago, I will continue eating a highfat , low carbohydrate diet, with few if any plants included in my diet. In the past year, since changing my diet away from the tradition AMA/US Government recommended food pyramid, I have lost 60 pounds, lowered my A1c from 6.4 to 5.6, have all "normal" range numbers in my blood work. I realize one person's results are one person's results, but this one person learned long ago, after serving in Viet Nam, and again, as recently as 2020-2022, and COVID, the US Government, the AMA, and Big Pharmaceutical can not be trusted. Your health is your responsibility so as the young folks say, "You do you!"

  Post: Feed Your Brain

  Link to comment from October 1, 2024

• Mike: Academics, like the author of your article can prove or disprove anything they choose to, and usually, it is to benefit those paying them to do the research. Millions of New Yorker's might have an issue with your contention that the "broken window theory" didn't benefit them, as the article's authors contend. Having spent the last 15 years of my career as an academic and having written articles like this one, I am speaking from experience, not theory. The article referenced above uses a classic mechanism to disprove the original result by changing the focus of the research. They didn't replicate the research, which is the actual method used to prove or disprove prior research, instead they substituted different questions and of course, reached different conclusions. The so called "Social Scientists" like the ones who published this article simply don't like that the proof doesn't fit their world view, from a social justice perspective, so they set out to diminish the research. The proof of the validity of the theory is evidenced by the success cities who have implemented the "broken window theory" have enjoyed after doing so. Where research is concerned it is often well to remember, "Figures never lie, but sometimes liars figure."

  Post: Don’t Procrastinate

  Link to comment from October 1, 2024

• Marjorie...what a beautiful article about your beautiful friendship with Beth. It moved me. All of us aren't blessed with friendships like the one you enjoyed with Beth. You were both truly fortunate. I recently got in touch with a young man with whom I attended the US ARMY Adjutant General's School, in May 1969. He and I both went to Viet Nam when we graduated, but we were assigned to different organizations and lost touch. 54 Years later I got an email from him because he saw an old financial article I wrote and contacted my institution, who told him I had retired, but they forwarded his information to me. We had our first 3 hour phone call shortly thereafter, and we have had a few since. George is not Beth, but your comment about friends don't have to be in constant contact to love one another and care about one another. Enjoy your inheritance.

  Post: My Inheritance

  Link to comment from October 1, 2024

• Whenever anyone wants to denigrate annuities, Executive Life is the example most often used. As a former professor of insurance I can tell you that Executive Life and another company, First Capital, went under because of junk bond investing and massive failures in oversight by state insurance commissioners. The regulations in existence today make such investments illegal, and state insurance regulations have been tightened significantly in the past 30 years. As of 2023, 95% of all bonds held by insurance companies are "investment grade. (Source: https://www.acli.com/about-the-industry/life-insurers-fact-book/2023-life-insurers-fact-book) While I would recommend choosing insurance companies with solid financials, and not just high ratings, merely as common sense consideration, I would not allow scare tactics, like those voiced by Mr. Bernstein, to dissuade me from considering annuities as a source of retirement income...nor have I. I am currently receiving monthly income from two annuities (purchased with Roth IRA dollars, so the income is income tax free) and I own two additional annuities that will be "turned on" in 2029. Is it prudent to be careful in selecting annuities and insurance companies that sell annuities? Absolutely. Just as it is prudent to consider with who you invest, and from whom you accept financial advice. While I cannot provide imperial evidence, I am certain far more money has been lost to investors by poor investment choices and poor financial advisors' actions than have ever been lost by failed insurers.

  Post: Retiring Smarter

  Link to comment from September 29, 2024

• JC: I loved this article. I retired in January of 2024, and since then I have had expenditure after expenditure that was previously "unplanned." Some have been home repairs, like replacing and upgrading my electrical panel, replacing a built in microwave, replacing a dishwasher, repair and upgrading my whole house water filter system, and on and on. None of these expenditures were foreseen, as my home is only 6 years old. Total costs...@$5,000-6,000. Another major expenditure is for a kennel, (@$800)and then a fence for my large back yard. Wooden, 120' X 30' X 4' site built, with 4 gates.($7,000) Why did I need a kennel, and then a fence? Because a puppy showed up in my front yard on the Friday evening of this past Labor Day. She had a slight limp and "road rash" on her left cheek. We suspect that some as_hole threw her pout of a car near our drive way. (We live on 6 wooded acres in a semi rural area.) Of course, we also had Vet bills for shots and spaying and heart worm treatments, etc. We did not have a fenced yard, so the only place we had to keep her was in our garage or in our yard, on a lead fixed to the ground. I had planned to get a dog in a couple of years, when we had finished the majority of our traveling in retirement, but... Of course, we also had Vet bills for shots and spaying and heart worm treatments, etc. another $600. But she is such a sweet dog and she never stops wagging her tail. My wife and I have always been "cat people," and although we both had dogs in our families as children, just never had one in our 50 years (so far) marriage. In fact, in the past 18 months, we have fostered 27 kittens and 4 adult cats, and we regularly feed 3-4 ferrels as well. A friend of ours is involved in a TNR (Trap Neuter Release) program in our community, and we have been volunteers to help with all the kittens born from un "Fixed" cats. We keep them and care for them until they are old enough to be "fixed" and then for an additional 3-4 weeks, until they can be put up for adoption. I imagine that in additional to the charitable donation I give the clinic annually ($2,000) we probably spend $300-$400 a month on cat food and other cat related items. Since my wife and I have no human grandchildren, we feel like these fur babies are our substitute. In a funny way, I guess caring for animals has become somewhat of a "purpose," which all the books on retirement say you need to have for a successful retirement. For those readers who were raised Catholic, we feel that maybe St. Francis is putting these animals in our lives to help him fulfill his mission as the Patron Saints of Animals. As I looked at your 7 enumerated ideas, I found myself saying Yep...Yep...Yep...Yep...Yep...Yep...Yep...JC is right again! We have the ability to afford to spend the money, since we have sufficient income and investments to last our lifetimes...we have the feeling of having, ENOUGH. We have trimmed unnecessary expenses, as we have no debts and no mortgage. I have reached that point in life where I question whether a purchase is really "worth it." In most cases if I want something, I have already got one like it already. (Here I refer to my desire, some might say passion, in buying guns. HA!). My wife's passions are relatively cheap, as her hobbies are cheap. Tied closely to the above, we don't eat out much anymore because, 1. We cook better than restaurants do and 2. At home, we get better service and do not have to deal with "the public" and their lack of social graces. We do still have the occasional Jersey's Mike sandwich or McDonald's Fish Filet, but eating out just doesn't have the appeal it did in prior years. Looking forward is top of mind currently as we want to take 3-4 major trips in 2025-2026. We want to spend a month or more in PA/Ohio, at least 6 weeks in Florida, at least 2 months "living "at the beach," in NC/SC, and lastly a 4-6 week trip to Germany/Ireland. The only other real travel we want to experience is the famous "Alaskan Cruise." Other than that, we will be doing road trips to see certain things in the USA, like Mt. Rushmore (again), Niagara Falls, Custer Battle Field in MT, Gettysburg, PA and others. Most likely we will spend $10-$15K annually for the next few years, not counting the Trip to Europe. I have over 500K miles on Delta and 500K miles on AA, so we will fly to Europe on Business Class, using miles. As far afar as the gradually increasing standard of living goes, that is also planned for. In 5 years, I will be turning on 2 income annuities, providing an additional $30K of income annually, for life. I am 74 now and my wife just turned 70 this month. While I am not wasteful, neither am I "cheap." If we fly domestically, it is always first class. When we stay in hotels, they are usually 3-4 star. You mentioned the "flat bed." ABSOLUTELY! JC..."God Loves You and so do I!" (This was a benediction type expression that was well known as coming from Pastor Robert H. Schuller, of The Crystal Cathedral, in Garden Grove, CA.)

  Post: My Spending Rules

  Link to comment from September 29, 2024

• Jonathan: We both have a stint with Citicorp in common, and like your experience, I brought them the knowledge, skill, and experience to launch a successful program. After 18 months, I knew they would never successfully implement it, and I took my credentials elsewhere. Also, like you, it was a learning experience, guiding me away from major bureaucratic organizations later in my career. I also had to chuckle when I read about "that one negative email..." In 2009, I entered my third career, as a college professor. I taught the things I had been doing for the past 38-40 years, and my students loved the fact that, unlike the majority of academics, I actually had "walked in their shoes," having had "real jobs." College professors receive surveys from students whenever courses are completed. These surveys result in "rankings" and numerical scores related to "success." Although in my 15 years at my institution, I was always ranked in the top 2% of professors, it always grated on me when I saw negative comments from students. Obviously, these surveys were anonymous, and I never knew exactly who made the occasional negative comment, but it took me a few semesters to realize that I should be focused on the 99% of my students who were thankful and appreciative of my efforts on their behalves, and not the 1% of malcontents, who found fault like there was a reward for doing so. I retired this past January, and while I do miss being involved in the growth and success of the thousands of students I impacted over my three different careers, I am finding other ways to impact my world, and enjoying these new efforts as well. One of my favorite quotes of all time... “I am only one, but I am one; I cannot do everything, but I can do something. What I can do I ought to do, and what I ought to do, by God's grace, I will do.” Edward Everett Hale

  Post: Never Quite Enough

  Link to comment from September 21, 2024

• My dad passed at 53, but from a disease that he contracted through military service in SE Asia, in the1960s. My mother passed way at 82, from complications of cancer. I had four siblings...my older brother was KIA in Viet Nam, at 19, my younger brother died of AIDS, at 33, my youngest sister died from lung cancer that went to her brain. It was treated and she recovered and lived 6 additional years. Five years with my wife and me, and Her last year in assisted living, before dying at 66. My oldest younger sister, 72 years old, was recently diagnosed with Alzheimer's disease, but otherwise is in relatively decent health. That leaves me. I will be 74 in October. I have lost 61 pounds in the past 13 months and I am determined to lose another 60-70 pounds in the next 12 months. I am exercising 3 days a week, regularly. I visit my doctor quarterly and have blood work done. My A1c was 57 last visit in early August. Sugar is steadily @ 100 and my cholesterol numbers are all good. I am doing all I can to live as long as I can to live healthily. My wife turns 70 tomorrow and will most likely outlive me, but I am going it my best. Time waits for no man...right? "Time Won't Let Me" was one of the earliest songs my teenage band learned. Along with "Wipe Out" and "Devil with a Blue Dress On." We played then in our HS Talent Show! I was a drummer in my youth! Good Times!

  Post: The Dance of Time by Ken Cutler

  Link to comment from September 4, 2024

• Who said... "Why do people spend money they don't have to buy things they don't need to impress people they don't like?" I bought a new '24 Hyundai Palisade Calligraphy. It is a three row, luxury edition of Hyundai's large set SUV. I paid cash for it...$51,300. Since my wife doesn't like to fly anymore, we have used this vehicle to visit 6 states on road trips. (VA, NC, SC, GA, TN, FL) In earlier days, I use to drive 10-12 hours a day, as I drove from TX to the Carolinas to visit my folks, but these days, I try to limit driving to 8 hours in a day. It is a large vehicle, but it averages 28 mpg on the highway and 24 mpg around town. It has every conceivable safety system imaginable. Although it is not recommended, it even drives itself hands free, although the dash board will flash at you and tell you to "Place your hands on the Steering Wheel," when it notices you are driving hands free. In a few years we will be done driving and traveling and I will replace this vehicle with something the size of a KIA Soul, which is another vehicle I have owned and enjoyed. Based on current values and pricing, I might get the new car paid for by trading this one in on it, since the most fully loaded Soul is only @$33,000. And by then, we will most likely only need a single vehicle, so even bigger savings, and fewer expenses. A Bently? I think not... Fortunately for me, I am at that stage in life now where I actually think about purchases, since in 15-20 years, someone is going to have to dispose of all this stuff. HA!

  Post: Quinn is considering buying a Bentley 🤑

  Link to comment from September 4, 2024