Thank you very much for the article! I found it very interesting and relevant, since I recently retired. I now struggle with making my time count. I even started using a time-tracking application to see where my time is going and it's enlightening. I have a question for you, if you don't mind: how much time do you spend watching television? I personally have always been anti-TV-watching to a point that we never had any TV channels and no cable at our house. The only TV my kids ever watched was rented videos/DVDs. But then came the internet and streaming, the kids grew up and moved out. The long story short - these days I end up spending around 3 hours a day watching TV. It's mostly a combination of movies and YouTube Videos. It's fun, but I feel it's too much. How about you?
I think the root problem to be solved is aligning the financial interests of the colleges or other lenders with those of the students and getting the government out of the student loan business. One solution I read about is to make student loan re-payment tied to the graduate's salary. For example, the graduates are obligated to repay their loans at the rate of say 5% of their annual pay. So, if the graduate has 50K salary and 100K loan, they will be paying it off at the rate of $2500 a year. There could be a cap of say 15 years and anything after that is wiped out. Once again, the incentives should be aligned -- success of the graduate translates into student loan repayment. No success - less money paid back.
I don't understand the comment in the closing paragraph about the discrimination of minorities. Are you saying minorities are not allowed to save or invest? Do they face 401k disadvantages? Are they not smart enough to do what you did? What is your point exactly?
Thank you for sharing your experience! I found it fascinating. I have also been looking for places to retire and move to from our current home in expensive and high-tax California. Arizona was certainly on the list, but I can't stomach the idea of having to endure 100+ degree heat for 5 months a year or so. Some people are just born heat-resistant, but I would much rather be cold. How are you dealing with the hot weather?
Could you explain why you decided to open separate investment accounts for your grandkids instead of simply putting more into their 529 accounts. The money in 529 accounts grows tax-free and is not taxed when you withdraw. With regular Invesment account(s) opened in your name, any gains would be taxed. Perhaps I am misunderstanding or missing something, so please enlighten me. Thank you!
Comments
Thank you very much for the article! I found it very interesting and relevant, since I recently retired. I now struggle with making my time count. I even started using a time-tracking application to see where my time is going and it's enlightening. I have a question for you, if you don't mind: how much time do you spend watching television? I personally have always been anti-TV-watching to a point that we never had any TV channels and no cable at our house. The only TV my kids ever watched was rented videos/DVDs. But then came the internet and streaming, the kids grew up and moved out. The long story short - these days I end up spending around 3 hours a day watching TV. It's mostly a combination of movies and YouTube Videos. It's fun, but I feel it's too much. How about you?
Post: Budgeting Time
Link to comment from October 27, 2024
I think the root problem to be solved is aligning the financial interests of the colleges or other lenders with those of the students and getting the government out of the student loan business. One solution I read about is to make student loan re-payment tied to the graduate's salary. For example, the graduates are obligated to repay their loans at the rate of say 5% of their annual pay. So, if the graduate has 50K salary and 100K loan, they will be paying it off at the rate of $2500 a year. There could be a cap of say 15 years and anything after that is wiped out. Once again, the incentives should be aligned -- success of the graduate translates into student loan repayment. No success - less money paid back.
Post: On Borrowed Time?
Link to comment from August 11, 2024
I don't understand the comment in the closing paragraph about the discrimination of minorities. Are you saying minorities are not allowed to save or invest? Do they face 401k disadvantages? Are they not smart enough to do what you did? What is your point exactly?
Post: Starting Late
Link to comment from October 5, 2023
Thank you for sharing your experience! I found it fascinating. I have also been looking for places to retire and move to from our current home in expensive and high-tax California. Arizona was certainly on the list, but I can't stomach the idea of having to endure 100+ degree heat for 5 months a year or so. Some people are just born heat-resistant, but I would much rather be cold. How are you dealing with the hot weather?
Post: My Retirement Home
Link to comment from May 26, 2023
Could you explain why you decided to open separate investment accounts for your grandkids instead of simply putting more into their 529 accounts. The money in 529 accounts grows tax-free and is not taxed when you withdraw. With regular Invesment account(s) opened in your name, any gains would be taxed. Perhaps I am misunderstanding or missing something, so please enlighten me. Thank you!
Post: Grandpa’s Scholarship
Link to comment from March 29, 2023