normr60189

Comments

• Socialism "operates on the principle that resources should be managed for community benefit. " Sweden isn't a socialist country but they are "admired" for their approach. The problem in the U.S. is that the government isn't doing good "for the lower economic segments of society". For example, the disparity in the cost of health insurance for seniors of all income classes, as compared to workers. What's happening is "safety nets" now benefit certain classes, to the detriment of others. The government is indirectly managing resources. Ergo semi-socialism. Of course, those who benefit will defend current practices, while demanding more.

  Post: Do seniors deserve more … at the expense of younger citizens?

  Link to comment from January 27, 2026

• People make choices. I don’t agree with some of their choices, but this is a relatively free society in which people can choose their lifestyle and indebtedness, with significant expenditures for “experiences” including entertainment, education, transportation and travel.  It does cost a lot to fly a family. American spent $1.036 Trillion on air travel in 2025. Average ticket prices were $543 in the first half of 2025. Our experience indicates that, excluding weather events, the airlines in the U.S. are generally booked.   The problem as I see it is fueling lifestyle with debt. “The average American owed $63,300 in debt in Q3 2025” according to USA Facts. “On average, auto loans and student loans currently make up 30.4% and 29.8% of non-mortgage debt, respectively. Educational debt more than tripled between 2003 and 2020, and it decreased 17.8% between 2020 and 2024.” Auto loans are $19,243.20 for the average American. Student loans are $18,863.40 for the average American.  Credit cars are $4,200.00 for the average American. Paying the interest on these debts reduces available cash and potential savings. BTW, there are ongoing discussions at HD about the value, or lack thereof of budgeting and the role of credit scores. For example, student loan interests rates have APRs ranging from 2.7% to 14.8%. I'd prefer having a good credit score and lower APR on my loans, but that too is a personal choice.

  Post: Money to burn?

  Link to comment from January 27, 2026

• Who gets the better deal for “health insurance”? Seniors paying $2,434.80 per year, or someone who is not a “senior” and pays $17,592 per year? That’s a trick question! The WSJ had an article in the print version on January 26, and also online. It pointed out the Irmaa Medicare charges for higher earners. However, the article also included this: “according to KFF’s ACA [Obamacare] premium calculator, the cost of a silver plan for a 64-year-old nonsmoking single person with no children who earns $150,000 and has no employer coverage or federal subsidy would be $1,466 a month.”  That’s $17,592 per year.  In the same article, the Medicare Part B premium for a single filer earning $137,001 to $171,000 per year will pay a monthly premium of $405.80 per person, including Irmaa charges. That’s $4,896.60 per year.   Some seniors complain about the Irmaa charges, but if the single filer annual earnings are $109,00 or less (or $218,001 joint income) the Medicare Part B charges are $202.90 per month. That’s $2,434.80 per person, per year. Of course, Part D will increase this. The article acknowledges “To be sure, even with Irmaa charges Medicare premiums often remain a bargain when compared with the cost of other health coverage—if one can get it.” Something like Irmaa applied to social security benefits would go a long way toward levelling the playing field. Politicians always talk about protecting "hard working Americans" but don't, and special interest groups do everything they can to continue favored treatments for seniors.

  Post: Do seniors deserve more … at the expense of younger citizens?

  Link to comment from January 27, 2026

• Of course, seniors don't "deserve" more than any other group. But the U.S. has become semi-socialist in the name of doing good. The AARP is another senior advocacy group which promotes changes in SS which would probably be to the detriment of other taxpayers.

  Post: Do seniors deserve more … at the expense of younger citizens?

  Link to comment from January 27, 2026

• Your post struck a chord. When I began my business I didn’t do it for the money. Of course I intended it to be profitable. A well-run company provides a lot for employees, from insurance to profit sharing and retirement plans. My overarching goal in 1978 was to build an organization that would be the best in the U.S. at what we did.  Developing the processes, systems and people to accomplish that became my job. 

  Post: Success, from another angle

  Link to comment from January 25, 2026

• I think anticipation is very underrated. It’s companion, budgeting is frequently misunderstood.  For example, in 1994 I was broke with the children entering college. I made a multiyear spreadsheet with all projected bills and future savings. Initially it showed $0 saved after meeting monthly obligations. Eventually the spreadsheet indicated that bills would decline and savings would increase.  It was a difficult nine years, but all of the college bills were paid, etc. In 2002 I was able to upgrade from an apartment and purchased a condominium for cash.  In 2002, at age 56 I began thinking seriously about retirement. I began researching RVs because that was something I decided I’d like to do in retirement. Eleven years later G agreed to a rental as an experiment, and we hit the National Parks. Shortly thereafter we purchased a well-equipped Class B RV and G and I began glamping. At first, it was only a few weeks at a time as I was working. But at age 69 I began a phased, gradual retirement.  In 2015 we began setting up “lily pads” with stationary RVs from which to base our travels.  We anticipated escaping winter cold and summer heat. Eventually we lived in RVs most of the year, travelling thousands of miles and staying sometimes for months in two locations. The condo became something to scratch G’s nesting instinct.  I have quite a few other examples, some earlier. But planning led to preparation and with it came anticipation. I tell stories about our adventures (and my mis-adventures) and some roll their eyes at another one of Norm’s tall tales. But it is all true.  My medical conditions have dampened this somewhat, and dialysis seems inevitable. So, I’m looking into the possibility of portable dialysis as we plan 2026 and 2027. I’m moving toward life’s exit, but I anticipate doing a few more things until I walk through that door.  

  Post: Financial Happiness

  Link to comment from January 25, 2026

• "Credit" is something we don't need until we do. If we buy a car, home loan or an auto lease are influenced, among other things. For younger people who lack the ability to predict the future, establishing good credit is a shrewd move.

  Post: The Debt Free Penalty.

  Link to comment from January 25, 2026

• We have been dealing with some chronic illness for several decades. Obamacare "affordable' insurance was about $10,000 a year. Quite a hit when G lost her employer's medical insurance. We carry a true emergency fund. You could also think of it as a capital replacement fund. We drive our vehicles for 10-20 years. At the late stage there can be some large repair bills. Then there is replacement cost to plan for. I do reasonable, preventative maintenance to keep everything in working order and extract full working life. But a new HVAC system is $20,000. Best to financially plan for these things

  Post: Retiree emergency expenses-how to cope

  Link to comment from January 24, 2026

• For those on Medicare health care costs are not an emergency? Does more than $10,000 in unexpected medical bills constitute an emergency? I suppose everything is relative.

  Post: Retiree emergency expenses-how to cope

  Link to comment from January 24, 2026

• Good credit is one of those things that I consider to be essential. It takes a bit of effort to establish a credit presence, but is easy to maintain. It also opens some useful opportunities. For example, when we moved into our current home we had no furniture. We went to a local “warehouse” furniture store with a shopping list. We selected items with the help of a salesperson and we were given several opportunities for payment. One was a credit card with 3-years to pay the balance and no interest or penalties as long as we made the monthly minimum. We took the offer. Credit cards are wonderful tools, but can easily be abused. G and I both have cards in our own names. When we purchased the house, some utilities were put in my name, and some in hers. That too is for credit purposes. The house is titled jointly.  The thing about credit scoring it that it is somewhat convoluted. Here’s a few factors from my Equifax statement:   1. Credit limits can be deceiving. Credit Usage is what matters. An excellent rating for this is achieved by keeping credit used to less than 20%. In other words, if the available credit is $10,000, then less than $2,000 is used. A good rating is 21-40%. It is suggested that credit usage, including a HELOC be maintained less than 30%. 2. Payment history is very important. To achieve an excellent rating, it should be 100% on-time payments. Good is 99%. Poor is 97% or below. Payment history includes auto and student loans.  3. Average age of credit is a factor. It is the average time all of the accounts have been opened. Excellent is 9+ years. Good is 6-8 years.  4. Total Accounts open are a factor. However Average Age of credit is more important when calculating a credit score. In other words, it is suggested don’t open a lot of credit that is unneeded. Total Accounts include open and closed accounts. 22+ is excellent and 13-21 is considered good.  Using the scoring factors, it would seem establishing credit as early as practical and maintaining it in good standing for years is the best way to get a high credit score. 

  Post: The Debt Free Penalty.

  Link to comment from January 24, 2026