Primary purpose is shelter, but this is a bit simplistic. Other things we value about our house:
Within a walkable mile of public transportation into NYC. Decent local bus routes just three blocks away.
Ample parking.
Same walkable range to two different downtowns including one high end supermarket, restaurants, places of worship (which host nonreligious community events as well), decent schools, parks, libraries, etc.
Neighbors who are community. My kids have different views of what dream house means.(This may be an article someday.) Then there is the issue of maintenance vs appreciation. As a proportion to house value, our property taxes have dropped, but they do increase every year. Homeowner's insurance, on the other hand, has soared. We just signed a contract for a $13.5k plumbing repair. In 2020 we spent $30k on a detatched garage repair (the foundation was crumbling on 2 sides and needed a new door and electrical servive.) We need outdoor painting every ten years. I could continue, but you get the point. If something goes very wrong in a rental, you move. If something goes wrong in an owned property, you better be insured for it with a company that pays out.
Yes.
1. Half our assets are in CDs and Treasuries precisely because the stock market can dip (or crash) at any time. But other conditions may lead to lasting (hyper)inflation, something we didn't worry about until a few years ago.
2. We try to avoid politics on this site, but we cannot ignore direct indications from the gov't that SS and Medicare could be at risk.
3. My dad's cancer drug infusions cost more than the new 45 foot sailboat he purchased after the first treatments worked. A lot of medical care is not covered by insurance. I read that people have years of cash stashed away, but what if care costs 1.5 years of this or you need LTC at 3x your calculated budget.per year?
4. An assumption made by many is that expenses go down in retirement. I expect my spending to increase. I spend so much time doing an interesting job that I don't have have time to spend. But I see retirement as a time to stay as busy, but have to pay for it. Or I expect to have grandkids a few hours away by plane, so that might mean an additional household and a lot of travel. And a lot of travel regardless. I see opportunities to spend a lot more.
I didn't realize that when Jonathan died people fled HumbleDollar. I find this sad. He built a community of people interested in discussing personal finance. I feel we are his acolytes and very much appreciate that this blog, publication, venue-- whatever it is-- continue.
This is a great post, or would be if other problems were not brewing simultaneously. Specifically, the enormous growth of federal borrowing, real threats to democracy and accountability of financial regulations, and war that threatens the energy markets and historical alliances and international markets. It's a lot at once. In terms of the advice about asset class distributions, it may.be the best we can do.
My wife tells her young colleagues (if they raise the topic) that there never is a right time to have kids. If they want to have kids, they should do it and make it work. We didn't consider the expense when we decided to have kids. At the time, we weren't married and all of my partner's pay went to day care. All of it. Because we were unmarried, legally she was a single mom below the poverty line, but couldn't get benefits because she was paid as a consultant. But it was possible because of my salary and it paid off because it led to a career she loves and much higher pay within a few years. Having kids was and is great, but certainly not financially prudent. Until they take care of us when we're elderly!
In 1993 my girlfriend and I made the bold choice to not bring travelers checks with us to Europe. We had to hunt for the correct ATM machines, but we were able to get local currencies with the debit card I had. It was a new financial world.
When I run out of $1 and $5 bills, I go to the bank and withdraw 100 of each (or sometimes less because bank branches don't always have 100 of each, but the most I can get approaching 100).
Why?
Purchases of fruit from stands on the street. Or in summer an ice.
And beggars.
A few days ago one of my kids was on a beach in Puerto Rico and someone came around selling ice cream, water, chips. She told me she was bummed because the vendor only took cash so she couldn't buy anything.
Comments
Primary purpose is shelter, but this is a bit simplistic. Other things we value about our house: Within a walkable mile of public transportation into NYC. Decent local bus routes just three blocks away. Ample parking. Same walkable range to two different downtowns including one high end supermarket, restaurants, places of worship (which host nonreligious community events as well), decent schools, parks, libraries, etc. Neighbors who are community. My kids have different views of what dream house means.(This may be an article someday.) Then there is the issue of maintenance vs appreciation. As a proportion to house value, our property taxes have dropped, but they do increase every year. Homeowner's insurance, on the other hand, has soared. We just signed a contract for a $13.5k plumbing repair. In 2020 we spent $30k on a detatched garage repair (the foundation was crumbling on 2 sides and needed a new door and electrical servive.) We need outdoor painting every ten years. I could continue, but you get the point. If something goes very wrong in a rental, you move. If something goes wrong in an owned property, you better be insured for it with a company that pays out.
Post: Giving Up on Owning a Home
Link to comment from April 5, 2026
Yes. 1. Half our assets are in CDs and Treasuries precisely because the stock market can dip (or crash) at any time. But other conditions may lead to lasting (hyper)inflation, something we didn't worry about until a few years ago. 2. We try to avoid politics on this site, but we cannot ignore direct indications from the gov't that SS and Medicare could be at risk. 3. My dad's cancer drug infusions cost more than the new 45 foot sailboat he purchased after the first treatments worked. A lot of medical care is not covered by insurance. I read that people have years of cash stashed away, but what if care costs 1.5 years of this or you need LTC at 3x your calculated budget.per year? 4. An assumption made by many is that expenses go down in retirement. I expect my spending to increase. I spend so much time doing an interesting job that I don't have have time to spend. But I see retirement as a time to stay as busy, but have to pay for it. Or I expect to have grandkids a few hours away by plane, so that might mean an additional household and a lot of travel. And a lot of travel regardless. I see opportunities to spend a lot more.
Post: Any concern?
Link to comment from April 4, 2026
On the other hand, Elaine's request is that we contribute to the site. I think the issue isn't number of posts but type of posts.
Post: Note to HD Writers and Contributors
Link to comment from April 4, 2026
I didn't realize that when Jonathan died people fled HumbleDollar. I find this sad. He built a community of people interested in discussing personal finance. I feel we are his acolytes and very much appreciate that this blog, publication, venue-- whatever it is-- continue.
Post: Note to HD Writers and Contributors
Link to comment from April 4, 2026
This is a great post, or would be if other problems were not brewing simultaneously. Specifically, the enormous growth of federal borrowing, real threats to democracy and accountability of financial regulations, and war that threatens the energy markets and historical alliances and international markets. It's a lot at once. In terms of the advice about asset class distributions, it may.be the best we can do.
Post: AI, Bubbles, and Markets
Link to comment from March 21, 2026
Store a lot of fresh water.
Post: Why Marlboro Gold is better Than Gold
Link to comment from March 15, 2026
JD is much heavier per unit than Marlboro. But it doesn't go stale. Weren't these the favorite products of the bad captain in Waterworld?
Post: Why Marlboro Gold is better Than Gold
Link to comment from March 15, 2026
My wife tells her young colleagues (if they raise the topic) that there never is a right time to have kids. If they want to have kids, they should do it and make it work. We didn't consider the expense when we decided to have kids. At the time, we weren't married and all of my partner's pay went to day care. All of it. Because we were unmarried, legally she was a single mom below the poverty line, but couldn't get benefits because she was paid as a consultant. But it was possible because of my salary and it paid off because it led to a career she loves and much higher pay within a few years. Having kids was and is great, but certainly not financially prudent. Until they take care of us when we're elderly!
Post: The Case for Kids
Link to comment from March 8, 2026
In 1993 my girlfriend and I made the bold choice to not bring travelers checks with us to Europe. We had to hunt for the correct ATM machines, but we were able to get local currencies with the debit card I had. It was a new financial world.
Post: Loose Change
Link to comment from March 8, 2026
When I run out of $1 and $5 bills, I go to the bank and withdraw 100 of each (or sometimes less because bank branches don't always have 100 of each, but the most I can get approaching 100). Why? Purchases of fruit from stands on the street. Or in summer an ice. And beggars. A few days ago one of my kids was on a beach in Puerto Rico and someone came around selling ice cream, water, chips. She told me she was bummed because the vendor only took cash so she couldn't buy anything.
Post: Loose Change
Link to comment from March 8, 2026