I am a retired CPA who wants to spend more time with my grandsons than my portfolio. In retirement, i have realized change remains the only constant, and I have to adapt. My priorities: family, food and fun.
Quotes
12 replies
AUTHOR: Mark Eckman on 7/2/2024
FIRST: Matt Morse on 7/2/2024 | RECENT: Jeff Bond on 11/18/2024
Alternative to the 4% rule
4 replies
AUTHOR: Mark Eckman on 10/12/2024
FIRST: bbbobbins on 10/12/2024 | RECENT: Mark Eckman on 10/13/2024
I KNOW FOLKS WHO consider their income to be the best measure of their wealth. Income, however, doesn’t gauge whether you’re making headway toward financial independence.
What does? My financial statement provides everything I need to measure my progress. At the end of each December, I gather the dollar amounts for my assets and liabilities, and assemble the details on a spreadsheet that compares my current standing with prior years. If you’re inspired to do the same,
HEALTH SAVINGS accounts (HSAs) were introduced in 2003, and have since become commonplace in employee benefit plans. My experience with HSAs dates to 2004, when my employer offered $400 in one-time seed money as an incentive to sign up.
HSAs differed from existing health-care flexible spending accounts, and offered some features I preferred. To me, the HSA’s most appealing feature was that I controlled the money. There’s no “use it or lose it” rule,
MY WIFE AND I PLANNED our retirement using several standard assumptions, including how long we might live. Dorothy was healthier than me, so we assumed I’d be the first to go. But on June 30, she died suddenly, and I was the one left to deal with the fallout—including the many pesky, practical details.
Those details were bureaucratic and technical, and it didn’t take long to complete them. Dealing with the funeral home, Social Security and various financial institutions was straightforward.
THE BEST DESCRIPTION for my career would be “corporate vagabond.” I moved the family six times to five different states over 42 years.
Because we never settled down in one place, my wife and I spent 15 years visiting potential retirement locations. We visited sprawling metropolitan areas, small towns, retirement communities and the town where we both grew up. We also considered the areas where we’d lived, but nothing appealed to us.
One evening,
WHEN YOU SEE an advertisement, you expect some hype. Ads for investment newsletters are, alas, no exception.
Sometimes, you hear about their unique investment process or how the newsletter regularly beats the market. Some offer one-sentence testimonials from happy subscribers. The message: You, too, can enjoy the benefits of their secret methodologies for a low, low price.
Yes, the ads are undoubtedly compelling. But you need to separate the hype from reality. Fortunately, Hulbert Financial Digest does just that—by tracking the performance of investment newsletters.
USE THE RIGHT TOOL for the job and you’ll get the best result. If you need to connect two boards, you could use a hammer and a nail or a screwdriver and a screw. Either methods work—and they’re certainly better than banging in a screw with a hammer, which I’ve seen tried. It was not effective.
Participants in 401(k) plans, alas, display similar behavior with target date funds, or TDFs. A TDF offers a diversified portfolio in a single fund,
WHEN YOU NEED expertise, you hire an expert. Water leak? Call a plumber. Electrical issue? Call an electrician. But when it’s a financial issue, the choice may not be so clear. Do you go to a CKA, a GFS or maybe a C3DWP? Chances are you haven’t heard of these designations.
I have 10 letters in my name. I also have 10 letters after my name: CPA, CISA and MBA. What do they mean?
NOTHING COMPARES to the human body when it comes to the combination of strength, flexibility and control. Build a strong core, and the possibilities are limitless. Through the discipline of Pilates, you can strengthen your core, while developing flexibility and control. It’s a wonderful tool, but one that’s underutilized.
The same can be said for health savings accounts, or HSAs, which can be funded if you have a high-deductible health plan. With an HSA,
“WE NEED TO TALK.” How many relationships have ended with those four words? They’re a verbal cue to take the news calmly and move on with life. But I would guess just as many relationships have ended without any words or possibly with harsh words. That’s what happens when we don’t talk about our relationship—or about our financial situation and financial plans.
A few years ago, my wife used those four words after I announced I was reducing our life insurance.


Comments
No. Nothing in the tax law says you hae to spend the full RMD. It's just the amount you withdraw, and in my case, place in my taxable investment account. I use an "in kind" transfer so I have the same investments. To prevent being a forced seller in the event of a 20% loss, I have a cushion of 2 years expected withdrawals in money market funds. Does that bring down my returns, yes. but it gives me substantial peace of mind.
Post: RMDs, account withdrawals, 4% simplified- MAYBE?
Link to comment from January 17, 2026
The Society of Actuaries has a paper discussing the topic.
Post: RMDs, account withdrawals, 4% simplified- MAYBE?
Link to comment from January 17, 2026
While the financial support gap is real, we can fund and plan to fill the gap. The emotional support gap is just as real and needs to be addressed as well. This morning started with news from my son-in-law that his father suddenly passed during the night. (The man retired in September.) My SIL and his siblings all live close to his parents and the emotional support will be more precious than anything else.
Post: Distance from family: inconvenience…or a financial planning blind spot?
Link to comment from January 5, 2026
Why buy the annuity? It adds no value, just cost.
Post: What is the standard advice for someone who wants guaranteed income in retirement?
Link to comment from December 27, 2025
What do they perceive as "guaranteed income" and why do they want it? The simplest guarantee to find is FDIC coverage, as long as they trust the US government guarantee of their CDs. The guarantee from Fast Freddy's Friendly Annuity Company might be something else. Unless they have a goal to leave a legacy equal to the assets they have today, I don't understand the why.
Post: What is the standard advice for someone who wants guaranteed income in retirement?
Link to comment from December 27, 2025
Work was no longer fun and I had been diagnosed with cancer. It was time for me to enjoy whatever time I had left.
Post: What Age Did You Retire—and What Made You Decide It Was Time?
Link to comment from December 27, 2025
Donald Trump is not a fan of SS, but I beleive he will keep his promise to "not touch SS." Not saving SS and allowing it to rot can happen at the same time. If SS benefits are cut and you chose additional withdrawals from your IRA, you may face IRMAA, or a higher tier of IRMAA. Tax laws have a special rath for those that have succeeded and followed the rules.
Post: Plan for a Pay Cut
Link to comment from December 27, 2025
This week I completed the transfer for the 3rd of 8 UGMA accounts at Schwab. When the kids were born we started with $100 and regular contributions each month. So far, one has gone to college. The others have not and the funds are turned over at age 21. So success is a relative thing.
Post: $92,000 a year is quite an investment. The ROI is real, but maybe not.
Link to comment from December 13, 2025
Like you, I have been with State Farm for a long time and have a $3m umbrella policy for $358/yr. Rates are not directly related to your car and for over $5,600/yr I'm wondering if you are looking at the correct policy. My annual bill for auto, home and umbrella is about $3,000. Talk to your agent and ask why you pay what you do and how to reduce the cost.
Post: Home, Auto & Umbrella Insurance—“Longevity Benefit”?
Link to comment from December 7, 2025
I maxed out contributions and kept medical reciepts since I first contributed to the HSA back in the early 2000's. Over the years, we did use the HSA for some dental implants, but basically, this was a retirement investment account. So, with about $50k in the account when I retired, my wife and I enrolled in a “high deductible G” Medicare supplement. When my wife passed, I knew I needed to drain the account to avoid my kids being taxed. I have been taking funds from the account, supported by all those receipts, to fund everyday living expenses. Withdrawals from my IRA are only for Roth conversions. I also traded the 12 year old SUV for a 3 year old pickup and paid the difference from my HSA, again, supported by all those receipts. Once you start receiving Social Security, you can use your SSA-1099 as proof of paying your Medicare Part B premiums, and reimburse yourself for those amounts.
Post: HSA Proposal
Link to comment from November 29, 2025