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Michael Hennessy

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    • Our auto insurance company (major national brand) has a program that allows customers to pay premiums based on milage. We drive very little, so we looked into it and found that we could cut our car insurance premiums by at least half. We signed up and received a "device" to plug into the car, assuming that it would monitor only milage.

      When we read the fine print on the agreement, we learned that the device monitors everything--speed, acceleration, braking, location, time of driving, and more. That information, of course, could be used to set rates, to investigate accidents, etc.--even though the insurance company claims it uses only the milage information.
      We returned the "device" immediately and will continue paying double what we would have paid for car insurance if we'd been willing to be "monitored." I guess that's part of the cost of maintaining some inkling of privacy nowadays.

      Post: We Drive, They Spy

      Link to comment from June 26, 2024

    • Thank you for an interesting and informative article. Another consideration is state estate taxes. In many cases, the threshold is far lower than the federal one. In Illinois, for example, it's $4M--and doesn't double for a surviving spouse and is not adjusted annually for inflation. Many retirees allegedly move to Florida (or Wisconsin or Indiana) to avoid the estate tax. A few other states have even lower thresholds.

      Post: Give Early and Often

      Link to comment from February 24, 2024

    • If you're an indexer, you can let the market decide for you. Vanguard Total World Market: 38% growth, 26% value, 36% core. Vanguard Total US Market: 46% growth, 23% value, 31% core. Vanguard 500 Index: 47% growth, 22% value, 22% core. So the market's advice appears to be "tilt growth."

      Post: Should investors tilt toward growth or value?

      Link to comment from February 24, 2024

    • Thoroughly enjoyed this well written piece. Hope you contribute again.

      Post: For the Fun of It

      Link to comment from February 21, 2024

    • Me, too. Pretty much the same kinds of dreams that you and others report, Andrew. I was a college professor and have lots "teaching nightmares" (late for class, unprepared, etc.). And for the last 12 years of my career, I was also an administrator. Since I retired in 2017, I have consistently had "administrator" dreams, usually with the same theme: frustration. In my sleep, I attend meetings, spend stressful time with the provost and president, deal with personnel crises, etc. What baffles me most is that 99% of my dreams are set in Texas (where I taught)--even though I haven't set foot in the state for almost 7 seven years (I retired to Chicago). Some of my dreams were so perplexing and unpleasant that I started writing them down in a journal. That seemed to be a good thing--to help me "understand" the dreams (if such a thing is possible), to observe recurrent patterns, and to process and forget the more "memorable" ones.

      Post: Retirement Dreams

      Link to comment from February 21, 2024

    • Home repairs. There seems to be a correlation between cost and quality of work. After several bad experiences years ago with bargain "handyman" repairs, I decided to go with bonded, insured companies that cost more and guarantee their work.

      Post: When have you insisted on paying the lowest cost possible—and regretted it?

      Link to comment from February 20, 2024

    • Generally, I'm an indexer. Two exceptions: Fidelity Total Bond Fund (FTBFX) and Vanguard Wellington (VWENX), which is about 35% bonds. I've held both for decades and based on long-term results, I believe--maybe irrationally--that active management has been worth the extra expense. John Bogle argued in one of his books that Wellington is a quasi index fund.

      Post: Does it ever make sense to buy actively managed funds?

      Link to comment from February 20, 2024

    • I was an English professor for 40 years, my wife for 30 years, so our home and our university offices were filled with thousands of books. Over the years, we tried to keep the collection under control by donating to a local charity book sale. But when we retired from Texas to Chicago in 2017 (2,000 sf house to a 1,200 sf apartment), cutting our library by half or more was one of our biggest downsizing challenges. Here are few things we learned: 1. It's very expensive to move books. They are heavy, and movers charge by the pound. Mailing them is also costly. 2. Nobody loves your books as much as you do. Not even your heirs. I learned this when I agreed to help the families of two deceased colleagues sell or give away large book collection. No faculty members wanted the books (their offices were already crammed). And used booksellers offered such a pittance that is was not worth the work of packing up the books and transporting them to the sellers. 3. Once the books are out of sight, you may not miss them as much as you think you will. A friend told me this, and he was right. Parting with particular titles pained me at the moment, but once they were out of sight, they were largely out of mind. 4. If you need a book you left behind, get it from your local library. At least in our case, this has been easy. We live 3 blocks from a branch library, and on short notice, we can get any book in the entire Chicago Public Library system delivered there for easy pick up. 5. Once you're retired and have trimmed your collection, don't let it re-grow. We still buy books and get them as gifts, but we have a policy: for each new book we acquire, we get rid of an old one (donate it to a local charity that operates a free library) 6. Don't overdo it. If your books are as precious to you, as ours were to us, don't leave them behind haphazardly or indiscriminately. Downsize thoughtfully. We installed two large book cases--nearly 70 linear feet of shelf space in our Chicago apartment, so we still have plenty of books--the ones that mean most to us and that we read and consult most often.

      Post: What I’d Keep

      Link to comment from February 19, 2024

    • Both my parents worked past 75, not because they needed the money but because they loved apple farming. Likewise, I loved my work as a college teacher and found it hard to leave behind. Fortunately I've been able to teach part time in retirement. On the other hand, many of my friends retired the minute they could and never missed working. So I guess it's a matter of to each her/his own.

      Post: Fire Meets Ice

      Link to comment from February 11, 2024

    • I've never bought an extended warranty and never intend to buy one. I figure that's saved me hundreds, probably thousands, of dollars over the past fifty years.

      Post: When does it make sense to buy the extended warranty, if ever?

      Link to comment from December 30, 2023

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