AUTHOR: quan nguyen on 7/21/2025 FIRST: Michael1 on 7/21 | RECENT: David Powell on 7/22
Comments
Mark, I understand that you view this retirement situation in economic perspective. At my 50th high school reunion a few months ago, people who came to the event viewed our classmates not in economic terms but alive or dead—all with terms of endearment, regardless of their station in life. That connection transcended the divide. Happy people look for ways to re/connect with other people by turning our back to events or situations that divide us.
Transactions in cash / check over $10 K USD require verification of funds, and soft credit check per regulation by the Federal Office of Foreign Asset Control.
Scams are becoming more sophisticated with computer algorithms and AI tools. Caller ID spoofing is particularly hard to detect. I got several alerts from Wells Fargo bank at midnight. A good defense is to avoid responding to the message / alert. If worrisome, call the number on the back of the actual card or your local branch (nothing urgent, business hours are good enough). Never type your credit card number AND security code (in the back of card) into your phone or links in email or text. As a retiree, I think FICO score is a nuisance and a big target on my back - it marks me as an attractive target for marketers and scammers.
Things to consider when applying for a new credit line (or when unfreezing credit records is worth considering) The Good: access to retailers (Costco store & gas); welcome offers (for me, nothing under $200 USD is attractive - check Nerdwallet dot com), loyalty perks (airline points, Amazon / Wholefoods discounts), cash back rewards. The Bad: reduced FICO score with each new card, store credit card has very low limit (5K) compared to bank card (30K); interest rate on store card (APR) is much higher than bank card (if balance not paid in full for each billing cycle); managing more credit cards is a pain point; future application is limited by banks (the major issuers, have limits per year for all cards); spam soliciting mailings, emails from retailers The Ugly: more credit cards open = more exposure risk to scam / personal ID theft (retailers got hacked quite often); closing credit card takes work and FICO hit but it might not erase personal file on the retailers' files.
The lead article on The Economist on November 23, 2025 says that getting out of the stock market at this time "might be a mistake." It noted that the market volatility happened when there was good news that Nvidia company still earns lots of money with 70% profit margin. For index investors, it's worth noted the history of Nasdaq before the dotcom bust. The Nasdaq had 12 separate corrections (over 10% drop) between 1995 and 2000. Those who refused to sell in this period had a cumulated gain nearly 1,100%
Thanks rgscl. I looked into the need for freezing ChexSystems. It would not protect existing bank accounts, and it would prevent buying a Certificate of Deposit from most new banks (brokered CDs not affected). For some SSA beneficiaries, locking down SSA electronic access by calling 1-800-772-1213 (it cannot be done online) would provide protection against benefit redirection to new bank, or fraudulent application for new benefits. Since SSA uses knowledge-based authentication process for locking, it is most useful to prevent domestic financial abuse (messy divorce proceeding or unauthorized access by other family members). It is very difficult to lift the lock, by design. It does not affect application of Representative Payee (who manages benefits for incapacitated recipient).
Wise suspicion about "this whole thing could be a scam"I would not ignore any such notice, but use this notice as a reminder to check on the internet security steps:Freeze credit, all 3 major credit agenciesSecure financial accounts with 2 factor authentication and activity alertsSecure passwords, preferably with password manager (I use Bitwarden)Minimize online footprint - stay discreet or uninterestingI don't rely on "free credit monitoring"I never give more personal information in exchange for protectionReddit sub-group r/Privacy has more, but I wouldn't act like I am a high value target.Stay safe, everyone.
When Benjamin Graham made the revision to his book "the Intelligent Investor" in 1972, passive index investing did not exist (not until Vanguard introduced it in 1976). Graham advocated for fundamental value investing using security analysis and margin of safety. Warren Buffet, a Graham's student, anchored his investing approach on those principles, and Berkshire Hathaway has outperformed passive index investing since its inception. It may be unfair to judge Graham's investing principles through the lens of modern index investing, given how profoundly the market has evolved since his time.
Wisdom, illness, and dementia await us near the end. I've learned that an unexamined portfolio is not worth keeping, but I'm afraid my timing will forget me before I remember to check it :)
Public school funding mechanisms vary vastly across states. California caps the property tax rates but guarantees a minimum share of the state budget for K-14 education. School districts also turn to general bonds and special parcel taxes for even more funding. This hybrid funding mechanism leaves room for local control, reduces inequality but suffers from economic volatilities. California schools got just above $23K per pupil per year in 2024, compared to $15K in Texas. Whether homeowners or renters, all residents have a stake in supporting education in the shared journey toward a better future.
Comments
Mark, I understand that you view this retirement situation in economic perspective. At my 50th high school reunion a few months ago, people who came to the event viewed our classmates not in economic terms but alive or dead—all with terms of endearment, regardless of their station in life. That connection transcended the divide. Happy people look for ways to re/connect with other people by turning our back to events or situations that divide us.
Post: Bearing Witness: Retirement From the Wrong Side of the Divide
Link to comment from November 26, 2025
Transactions in cash / check over $10 K USD require verification of funds, and soft credit check per regulation by the Federal Office of Foreign Asset Control.
Post: When is it worth your time to unfreeze your credit score?
Link to comment from November 25, 2025
Scams are becoming more sophisticated with computer algorithms and AI tools. Caller ID spoofing is particularly hard to detect. I got several alerts from Wells Fargo bank at midnight. A good defense is to avoid responding to the message / alert. If worrisome, call the number on the back of the actual card or your local branch (nothing urgent, business hours are good enough). Never type your credit card number AND security code (in the back of card) into your phone or links in email or text. As a retiree, I think FICO score is a nuisance and a big target on my back - it marks me as an attractive target for marketers and scammers.
Post: When is it worth your time to unfreeze your credit score?
Link to comment from November 25, 2025
Things to consider when applying for a new credit line (or when unfreezing credit records is worth considering) The Good: access to retailers (Costco store & gas); welcome offers (for me, nothing under $200 USD is attractive - check Nerdwallet dot com), loyalty perks (airline points, Amazon / Wholefoods discounts), cash back rewards. The Bad: reduced FICO score with each new card, store credit card has very low limit (5K) compared to bank card (30K); interest rate on store card (APR) is much higher than bank card (if balance not paid in full for each billing cycle); managing more credit cards is a pain point; future application is limited by banks (the major issuers, have limits per year for all cards); spam soliciting mailings, emails from retailers The Ugly: more credit cards open = more exposure risk to scam / personal ID theft (retailers got hacked quite often); closing credit card takes work and FICO hit but it might not erase personal file on the retailers' files.
Post: When is it worth your time to unfreeze your credit score?
Link to comment from November 24, 2025
The lead article on The Economist on November 23, 2025 says that getting out of the stock market at this time "might be a mistake." It noted that the market volatility happened when there was good news that Nvidia company still earns lots of money with 70% profit margin. For index investors, it's worth noted the history of Nasdaq before the dotcom bust. The Nasdaq had 12 separate corrections (over 10% drop) between 1995 and 2000. Those who refused to sell in this period had a cumulated gain nearly 1,100%
Post: Don’t Let Mr Market Bully You: A Gentle Reminder of Your Built-In Protection
Link to comment from November 23, 2025
Thanks rgscl. I looked into the need for freezing ChexSystems. It would not protect existing bank accounts, and it would prevent buying a Certificate of Deposit from most new banks (brokered CDs not affected). For some SSA beneficiaries, locking down SSA electronic access by calling 1-800-772-1213 (it cannot be done online) would provide protection against benefit redirection to new bank, or fraudulent application for new benefits. Since SSA uses knowledge-based authentication process for locking, it is most useful to prevent domestic financial abuse (messy divorce proceeding or unauthorized access by other family members). It is very difficult to lift the lock, by design. It does not affect application of Representative Payee (who manages benefits for incapacitated recipient).
Post: Another week, another data breech notification letter…
Link to comment from November 17, 2025
Wise suspicion about "this whole thing could be a scam" I would not ignore any such notice, but use this notice as a reminder to check on the internet security steps: Freeze credit, all 3 major credit agencies Secure financial accounts with 2 factor authentication and activity alerts Secure passwords, preferably with password manager (I use Bitwarden) Minimize online footprint - stay discreet or uninteresting I don't rely on "free credit monitoring" I never give more personal information in exchange for protection Reddit sub-group r/Privacy has more, but I wouldn't act like I am a high value target. Stay safe, everyone.
Post: Another week, another data breech notification letter…
Link to comment from November 16, 2025
When Benjamin Graham made the revision to his book "the Intelligent Investor" in 1972, passive index investing did not exist (not until Vanguard introduced it in 1976). Graham advocated for fundamental value investing using security analysis and margin of safety. Warren Buffet, a Graham's student, anchored his investing approach on those principles, and Berkshire Hathaway has outperformed passive index investing since its inception. It may be unfair to judge Graham's investing principles through the lens of modern index investing, given how profoundly the market has evolved since his time.
Post: Why would index investing be different?
Link to comment from November 16, 2025
Wisdom, illness, and dementia await us near the end. I've learned that an unexamined portfolio is not worth keeping, but I'm afraid my timing will forget me before I remember to check it :)
Post: I don’t know. Or care. But I will at the end of April.
Link to comment from October 30, 2025
Public school funding mechanisms vary vastly across states. California caps the property tax rates but guarantees a minimum share of the state budget for K-14 education. School districts also turn to general bonds and special parcel taxes for even more funding. This hybrid funding mechanism leaves room for local control, reduces inequality but suffers from economic volatilities. California schools got just above $23K per pupil per year in 2024, compared to $15K in Texas. Whether homeowners or renters, all residents have a stake in supporting education in the shared journey toward a better future.
Post: Public Schools and Property Taxes
Link to comment from October 28, 2025