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DURING MY FINAL NINE years with the Coast Guard, I was involved in decisions regarding search-and-rescue operations. We were almost always working with imperfect information. For three of those nine years, I was responsible for all missions in one section of the Great Lakes and, in my last year, I made the final decision on when to suspend search-and-rescue operations in an even larger area.
To lower risk, we often assumed the worst, and threw copious operational resources at the situation.
IN JANUARY 1987, I was an unmarried junior Coast Guard officer just beginning the flight stage of U.S. Navy flying training. I decided to see a financial advisor who’d been recommended by friends.
This wasn’t just any advisor, but rather a retired Air Force lieutenant colonel and fighter pilot. He worked for a firm whose advisors were comprised mostly of retired military officers, and they marketed their services primarily to military officers. If there was anyone I could trust,
Comments
I started investing in equity mutual funds about 6 months before the big crash in 1987. Much like you, with little invested at the time, and being in my mid-20s, I was too busy to worry about it. Over the years, I saw volatility as a huge friend and helper to my dollar cost averaging.
Post: Volatility is your Best Friend
Link to comment from March 7, 2026
Very interesting. So the annuitant can enjoy their spending knowing more is on the way while those living on withdrawals experience some anxiety spending their retirement funds not knowing what the future may hold for their assets. I hear echoes of Jonathan Clements' advice here regarding using annuities to fund your regular, fixed expenses as a means of reducing this form of anxiety.
Post: Forget the 4% rule.
Link to comment from March 7, 2026
Very thoughtful Jerry. Your comments about help with a difficult medical issue resonate with me as I've heard of friends getting the same benefit from AI.
Post: Is AI going to affect our investments
Link to comment from February 28, 2026
And I always thought older people should stay off ladders. 😀
Post: New to building a CD or Bond Ladder?
Link to comment from February 28, 2026
Good for you Jeff. That's quite a comeback.
Post: It’s Never Too Late
Link to comment from February 28, 2026
Not honest ones. 😄
Post: If you have done well, be proud.
Link to comment from February 21, 2026
That's pretty smart Rob.
Post: How Far Back Would a 40% Drop Take Us?
Link to comment from February 21, 2026
Mark, as I read your article I thought your buddy is probably fun to hang out with, regardless of his financial issues. You answered that intuition above. He sounds like a fun Dude, just may need help with the occasional bar tab. 🍻
Post: The Monthly Mystery of the Vanishing Paycheck
Link to comment from February 14, 2026
Great article Mark, thank you. I can't imagine how hard the GFC must have been for business owners. When there are runs on the bank, as there was here in the U. S. in 2008, at Wachovia (now owned by Wells Fargo), and Washington Mutual (now owned by J.P. Morgan Chase), to name just a few, you know the system is in big trouble. In 2023, when the Fed and the Treasury stepped in and backstopped not just the FDIC insured deposits at Silicon Valley Bank, but all their deposits, I wonder if they headed off another massive banking crisis. The problem then was the rapid and massive increase in interest rates caused many banks across the country to become insolvent if their Treasury securities, which the Fed pretty much forced them to buy when rates were extremely low, were marked to market. It was quite something to behold as the Fed was required to solve a problem of their own making, and is a reason I keep very little money in a bank. Inherently, fractional reserve banking is risky and the Fed will be the last one to tell you when that risk has become dangerous.
Post: Financial Trauma
Link to comment from February 14, 2026
It's rarely been a good idea to bet against America, especially in recent years, due to our ability to innovate, our rule of law, and lack of capital constraints. 🇺🇸 That said, I think a continuing and growing trend will be other governments buying fewer Treasury securities to hold as reserve assets as they diversify into gold. For instance our ally, Poland, is a huge buyer of gold. There are numerous reasons for this with the result being less demand for our Treasuries when we need to roll over about $9 trillion this year alone. Michael Howell, of Cross Border Capital, follows global liquidity very closely. He's stated that 75% of all debt in the world sold each year is used to refinance existing debt, with the remaining 25% used for new investment. Those are staggering numbers.
Post: Sell America
Link to comment from February 14, 2026