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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
Mark, I went through the wedding process with my only daughter culminating in a wonderful wedding in March. At times I was going bat$hit crazy over the cost of some of the arrangements (my wife and I paid for our wedding, as did my brother), but a good friend said don't worry about it, you have just one daughter, just have fun. Well, the wedding turned out fantastic, perfect weather, the food was amazing (all the guests raved), the venue much better than I thought, and we had a great time on the dance floor. Truly a spectacular day and evening I'll never forget. Worth every penny. My recommendation is take a few deep breaths, buckle up, and it'll all turn out great in the end. :)
Post: Something fishy about financial security
Link to comment from November 15, 2025
For those of you, like me, who sympathize with Mr. Quinn's sentiments on shopping carts, may I suggest Cart Narcs? https://cartnarcs.com/index.html
Post: Shopping carts. Please don’t consider this a rant. It is a lamentation.
Link to comment from November 8, 2025
There is a nice grocery store near our home where a young man with Down's Syndrome bags groceries. His name is Steve, and my wife and I will slip him $5 for bagging our groceries which puts a huge smile on his face. Carrying a little cash allows you to be a serendipitous in your generosity, and increasingly when eating out where I live, allows you to avoid the 3% credit card fees small restaurants are often adding to the bill. As my accounting professor said one evening, "Cash is king." :)
Post: A Question of Cash.
Link to comment from November 2, 2025
Real couch potatoes live short lives, financial couch potatoes live long lives. :) As one of my colleagues at work used to say, "Less is more". In the personal finance world that's often true.
Post: Optimizer or Satisficer?
Link to comment from November 1, 2025
Mike, I grew up in Eugene and used to visit Florence, Newport, etc. on a regular basis. From 1998-2003 I lived in Astoria--loved it. Our first fall/winter there, from October to March, there were winds recorded of 100 mph or more, every one of those months, somewhere along the Oregon Coast. U.S. 101 was blocked north of Garibaldi by a landslide for a while. Unless you've spent some time there, you'll never know how extreme the weather gets because the storms have no names.
Post: Coastal Retirement? Have You Considered These Costs?
Link to comment from November 1, 2025
I always find it amazing that these companies fool the "experts" at places like Jeffries and Black Rock--see Nick's link below. I hope there are no bailouts coming in private equity.
Post: Lessons from First Brands
Link to comment from November 1, 2025
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