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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
Agreed. What makes this decision such a vexing conundrum is the fact that we have imperfect information to work with. We don't know how long we'll live, what our needs may be later in retirement, and we all have different financial circumstances, so it comes down to a personal decision. I sometimes feel that people who don't wait until 70 are sometimes looked down upon as financial amateurs. My recommendation is to decide as best you can and don't ever look back.
Post: Social Security subject beaten to death, but one more time please
Link to comment from October 25, 2025
Very well said Mark. You really captured the essence of delayed gratification. As a guy with a 2012 Camry and a 2003 Yukon XL in the driveway, I can relate. But we did make a decision to buy a late model Subaru Outback and are loving it. It is indeed nice to be able to make decisions instead of feeling compelled to consume.
Post: The Curious Case of Finally Being Able to Afford the Thing You No Longer Want
Link to comment from October 25, 2025
Well, somehow I think that sort of discipline will be good for him.
Post: Financial Education in Middle and High School
Link to comment from October 25, 2025
At the end of the day, learning to spend less than you make and invest the difference is a lesson that's hard for many, probably best learned at home, and takes time to master. Until one gets into the virtuous cycle of saving and investing, over time, it's really hard not to spend it all. I spent it all until I got to about age 26 when my income began to exceed my lifestyle and felt no need to upgrade my lifestyle.
Post: Financial Education in Middle and High School
Link to comment from October 25, 2025
I could go on and on about my relationship with alcohol and what I've observed over the years, but won't. Not enough room here. That said, I had my second hip replacement surgery a month ago, and after both surgeries I completely lost my desire for a glass of wine. Typically, I drink almost a glass of wine per day, but I've had just 1.5 glasses since my surgery 32 days ago. I'm not sure if it's the anesthesia or what, but I've been a closet teetotaler lately. Has anyone else experienced the same effect after surgery?
Post: Drinking and finances
Link to comment from October 19, 2025
Some really great advice Adam. With a son entering college in 2008, and the market at an all time high in the fall of 2007, I fortunately moved his money out of equities at just the right time. My next son, who began college in 2011, had his college fund decimated. Fortunately, he received scholarships that covered almost all his expenses for four years so we still had some money left over. Adam is right, if you are going to need the money, get it out--especially now. With the market as it stands today, if you have kids heading to college in a few years and have been saving in equities, time to trim those sails.
Post: Is The Stock Market Overvalued?
Link to comment from October 18, 2025
Very interesting Dave. My father, in his retirement, did part time work for a friend who owned a funeral home. He would help at the funerals, etc. and get a $50 bill for his few hours of work. He really enjoyed it. Before the War, my Dad was training to be a mortician and so it seemed to me he always felt comfortable around funeral homes. Just after the war ended in Japan, my father arrived as a Chief Pharmacist's Mate aboard the brand new USS Sanctuary hospital ship. He spent time in Nagasaki, and then primarily helped card for the many POWs that were sent to the Sanctuary for desperately needed care. While on the transit back to the U. S., several souls died on board and rather than bury them at sea, my father was asked to embalm them (as they knew he had the skills). My father said the ship had brand new, never used embalming equipment and he was able to take care of these poor fellows.
Post: Wade Pfau has put me in a funk. Are you dealing with the stages of retirement?
Link to comment from October 12, 2025
Actually, Strategy recently qualified for the S&P 500 but was not allowed in. The Vanguard VEXAX (Extended Market Index Fund) has MSTR as its second largest holding. The Vanguard Total Stock Market Fund (VTSAX) and the Vanguard Growth Income Fund (VIGAX) also own shares.
Post: That Dumb Stock Market
Link to comment from October 12, 2025
Right now, Strategy (MSTR) is trading at about 1.43 times their net assets.
Post: That Dumb Stock Market
Link to comment from October 12, 2025
Index investing can be quite dumb. There were several companies I followed closely because they were frauds in plain sight. I'd listen to their conference calls, do a deep dive on their financials, read their false press releases, and quarter after quarter you could watch fraud take place. When I would check to see who owned the company's stock, the largest shareholders were always Vanguard, Fidelity, Black Rock, etc. The index money. Right now, the largest shareholder of Strategy (MSTR), by far the largest bitcoin treasury company, is Vanguard. Yep, Vanguard, the company that won't allow its customers buy bitcoin ETFs nor will they create their own bitcoin ETF owns, indirectly, a huge amount of bitcoin. You can't make this stuff up. My question is, what happens when the "passive bid" for some reason no longer shows up? That could be a really bad day.
Post: That Dumb Stock Market
Link to comment from October 11, 2025