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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
Mr Gnuussen, there is some great advice below. All I have to say is that after going through a similar experience, I think these next 5 to 10 years could be some of your best. Don't rush anything, stop and smell the roses, and you'll find some great ways to put your talent and energy to good use. The newly found time allowed me to do some things with my kids that I'll treasure forever--things I never would have done if still working like a fiend.
Post: Fear of the Unknown…
Link to comment from July 25, 2026
Great article Adam. Robert Shiller is one of the best out there. He's one of the few academics/Nobel winners that will call out weaknesses in the efficient market hypothesis. I wonder if the passive bid plays a large part in the stock market's inexorable rise to such high valuation levels as more and more money is fed into the highest cap stocks regardless of value.
Post: Market Indicators
Link to comment from July 25, 2026
Jeez, Dennis, you need to write a book along these lines. You nailed it. And many of the topics you mentioned link to happiness and contentment.
Post: Lessons on the Ground
Link to comment from July 18, 2026
Great article Adam. The K shaped economy is now beginning to have a large effect on our politics. I also see my adult children dealing with the effects of much higher home prices. They all make a living wage and can afford homes where they live, however, it's a lot harder for them than when I was in my 20s. Basically, you need to own the right kinds of assets going forward or the debasement of our money/inflation will keep you on a treadmill forever.
Post: K-shaped Economy
Link to comment from July 18, 2026
I think that's a great approach. I did something similar for my youngest two children which expired when they turned 22. I didn't want them to get a windfall and then make bad decisions with the money.
Post: K-shaped Economy
Link to comment from July 18, 2026
As for me, I'm worried about the cows. 🐄😉
Post: So Maybe That’s What It’s All About
Link to comment from July 11, 2026
Adam, by far the best description and analysis of these accounts I've read. Thank you.
Post: Trump Accounts
Link to comment from July 11, 2026
Thanks for sharing Mark. So much in life we benefit from is only apparent much later. Those of us in our 60s and early 70s have a great deal to be grateful for. Starting around 1982 or so, the stock market has been one heck of a tailwind for those saving for retirement. Folks starting a regular investment program in the early 80s, and sticking with it, have done remarkably well by investing in equities. The WWII generation, which my Dad was a part of, had mostly defined benefit plans. It was a good thing they did because inflation wrecked stocks from the late 1960's till the early 80s, right before they retired. If they had to rely on 401Ks to retire then, well, good luck. The 401K came about in 1980 and as it grew to replace the defined benefit plans, and with boomers being such a large cohort, lots and lots of dough piled into the market from the early 80s to the present. This 'passive bid" now plays a huge role explaining the inflows into equities. Will a time come when the boomers must cash in and shift to income producing investments? Will our kids and grandkids have this same tailwind boomers have had for over 40 years? My gut tells me they won't have it so easy and I've had many discussions with my children about preparing for this future.
Post: Luck, Stupidity, Automation and Inertia
Link to comment from July 4, 2026
They make really good window air conditioners these days that are more quieter and efficient than the old ones. I would think that might be the best solution. I grew up in Eugene, Oregon in a home built in the 1950s without air conditioning. You need it there now. When I was young, we would run fans in the house at night. Now I live in the Deep South with the A/C running almost constantly right now. Awful. 🥵
Post: The Price of a Cool Pillow
Link to comment from July 3, 2026
I'm retired now and sometimes I'm haunted by the idea of being productive. I think most Humble Dollar readers suffer from this same affliction. My solution: take a nap. A good nap cures just about everything including a poor night's sleep, boredom, general crankiness, etc. After the nap you are rejuvenated so you can now read a book, watch the World Cup, plan dinner, wash the car, get some exercise, you know important stuff. 😅
Post: Haunted Head
Link to comment from July 3, 2026