FREE NEWSLETTER
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 whoâd been recommended by friends.
This wasnât 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 was never good at mechanical things, fixing things, etc. This provided a great deal of frustration over the years as I lacked the confidence to take on many tasks. Then came Youtube. By watching videos and saying to myself, "I can do that", I've been able to complete the following tasks on my own engendering much positive surprise in my spouse. Removed and installed new dishwasher Installed new garbage disposal Replaced dryer heating element (at least three times until I unclogged vent duct) Replaced leaking water flow control valve on refrigerator Replaced side mirror on 2003 Yukon XL Replaced seat movement controller on Yukon XL Replaced toilets Yes, Youtube is really quite helpful. And one more thing. As I get older, I stay off ladders. If it requires a ladder, I get help.
Post: The Rent is Too Damn High!
Link to comment from May 16, 2026
Nice article DJ. What sticks out to me from your article was the fact that a decent job for a young man or woman, in those days, provided enough income to pay for college. My older sister and brother, from about 1974-1981, were able to fund college by working as a life guard and lumber mill worker (respectively) and fund their college expenses. My brother's union mill job, which he only worked in the summer, paid all his college tuition and living expenses for the whole year including his fun money. When my kids were getting ready for college, good ACT scores could garner much more in scholarship funds than they could ever earn working. I wish it were like the old days because, in many ways, it was more fair.
Post: First Job, Lasting Impact
Link to comment from May 16, 2026
I buy the Kirkland Signature House Blend, 2.5 lb bag for about $18. It's essentially Starbucks coffee but for a fraction of the price. They did away with the store grinders so I grind it myself and it's excellent coffee for the price. I enjoy it every morning I'm home. On road trips, I'll take a 5 cup coffee maker with me and brew my own.
Post: Dickie and his magic beans
Link to comment from May 10, 2026
Ed, great article. Thank you. Don't forget to stop and smell the roses when you can. Interestingly, I heard Michael Green of Simplify Asset Management, say on a podcast this week that many boomers are hoarding their stock portfolios afraid to draw down at 4%. Because they are living longer they are now, in many cases, only withdrawing 2 or 3%. Sounds like you have a great plan and will be fine. But just to warn you, by owning the Vanguard Total Stock Market Index Fund you'll also own a little of Adam Grossman's Gamestop. đ . Have a great weekend.
Post: Slow on the Draw
Link to comment from May 9, 2026
Great article today Adam, thank you. CNBC has a great deal of time to fill every day. For me, it's nothing but noise from talking heads. I only tune in now if there is something really, really big going on. There is no real signal there, even if I had a great antenna. I've read all of Nassim Taleb's books backwards and forwards and he emphasizes, regarding people and their opinions, that he only listens to the opinions of people who have skin in the game. I find that to be pretty good advice.
Post: Wall Street Trap
Link to comment from May 2, 2026
Amen brother. The Social Security decision would be an easy one if we know how long we'll live, how our needs might change later in life, etc. but we don't. After many years of my adulthood involving delayed gratification, I'm now trying to get into a mindset of freeing up a little spending. Best wishes to you on your decision.
Post: Rethinking the âRightâ Time for Social Security
Link to comment from April 25, 2026
A good night's sleep is everything. Back in 1994, I sold equities to get ready to buy my first house later in the year. I put the money in a short term bond fund. My plans were to enough cash for a down payment, a new minivan for my growing family, and cash to furnish the house. Then Alan Greenspan rubbed his belly and jacked interest rates up. A lot. I lost about $750 in that ST bond fund teaching me a very real lesson; even a short term bond fund has real risk and a money market may be a much better option for short term holdings.
Post: Staying Rational
Link to comment from April 18, 2026
Thanks Jack. I forgot about those pesky dividends. They are helpful.
Post: Investment Versus Speculation
Link to comment from April 4, 2026
I think of gold more as money, as a neutral store of value that can be exchanged later into dollars if need be. Central banks around the world have been accumulating substantial amounts of gold since the beginning of the Ukraine War to serve as a neutral reserve asset, outside the control of the U. S. government and the Swift system, and some entities are using gold to settle transactions making it a form of money, a means of exchange. Foreign central banks now own more value in gold than dollars. That's a huge reversal and it says a great deal about the dollar. Fun fact: from the day we went off the gold standard in August 1971 to present, gold has returned 9.38 % annually, whereas the S&P 500 has returned 8.05%. Other than holding cash in a money market fund, I see no reason to invest in bonds because here's another fun fact: the money supply, M2, has grown approximately 6.5% since August 1971, and in February its rate of growth, annualized, was 11%! In my view, we need our investments to stay ahead of M2 growth, otherwise we are falling behind in terms of purchasing power. Thus, quality equities, gold, and other hard assets may be your best bets going forward. Bonds only give one the illusion of keeping up.
Post: Investment Versus Speculation
Link to comment from April 4, 2026
That's basically what I kept coming up with. I used the mid-level health prediction as we are both non-smokers in good health. But at the end of the day, there are important variables we can never know ultimately making it a personal decision.
Post: Wrapping It Up
Link to comment from March 29, 2026