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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, 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
In the early 2000s, I gave some very simple financial advice to some family members who needed it. You know, spend less than you make, DCA into a Roth and other investments, etc. About 10 years after that I figured, conservatively, they had lost over $100K on depreciation churning ownership of expensive vehicles. 25 years later they live paycheck to paycheck, drive $70K vehicles, and are one job loss away from financial abyss. I never gave them advice again.
Post: I got the call
Link to comment from February 7, 2026
Thanks for sharing Dennis. If there is anything I've learned the hard way it's that making real estate decisions without time on your side can lead to bad outcomes.
Post: Value of Waiting
Link to comment from February 7, 2026
We have a one-payer system for those over 65, Medicare, Veteran's receiving their care from the VA, medicaid, leaving only a section of the population with a large cost of care. Maybe we'll get to the finish line some day.
Post: The ACA Financial Cliff … some helpful visuals (and hope for continued dialog)
Link to comment from February 7, 2026
Gold may be a reflection of a number of things including the dollar. In about the last year, the dollar is down approx 12% as measured by the DXY index. That's a great deal of purchasing power lost. An ounce of gold is an ounce of gold, but what it's priced in, the dollar, keeps changing and not for the good.
Post: The Playground Indicator
Link to comment from January 31, 2026
Casey, in 2009 I was in almost the same position as you. Just retired from the military, but with 4 kids to get through college with the oldest in his second year. Before I retired, I bought the house I still live in and put over 50% down. My strategy was to keep my fixed expenses as low as possible in order to stretch may retirement cash flow every month. I had done much saving for college and thus we could have gotten by on my retirement income, however, we would never have gotten ahead. So, I worked sporadically over the next 10 years, made some good money at times, and this income took away any financial worries. What's hard to anticipate, but you must, are all the unexpected expenses. At one point I owned 6 cars, paid over $800 per month for car insurance, and had a cell phone bill way over $400. During these years, kids cost money. In 2020, all my kids were off the payroll with living wage jobs and we found spending to come much easier because our expenses are way, way down--and I own a Certified Pre-Owned Outback! So good luck and be ready for the financial bogeyman should he come.
Post: Spending Without Guilt: An Overlooked Retirement Skill
Link to comment from January 24, 2026
Ahhh...a man with enough. Now that's a great position to be in. With "enough" comes contentment, a close relative to the more mercurial happiness. :)
Post: Spending Without Guilt: An Overlooked Retirement Skill
Link to comment from January 24, 2026
In a fit of boredom during the doldrums of the pandemic, in January, 2021 I decided to pay off my mortgage. I ran the numbers over and over and decided to go for it after concluding some decision like this are not purely rational. I had paid 9 years on a 20 year mortgage at 3.875%, so not a bad rate, however, with cash paying nothing at the time I decided to just pay it off. My wife was all for the decision and we've never looked back. I like the extra cash flow every month and the peace of mind of being totally debt free.
Post: The $8,000 Cost of Peace of Mind
Link to comment from January 24, 2026