Investopedia has some good explanations on what communism and socialism is and their differences. Also, the Nordic model. Things like SS, educational/university support, union activity, healthcare, infrastructure projects, etc. are always bunched together and deemed as ‚nasty socialism’. I live in Germany, the days of state-owned corporations are long over (except minority stakes in VW, railroad, communal energy, etc). We pay our normal income taxes (progressive, with SS%, unemployment %, disability, infrastructure tax), we pay property tax but only a few thousand a year for a house - not 30,000/yr like in NJ, we pay 50/50 for healthcare (you can also choose private if you make above a certain amount, we pay for university (several thousand a year, housing costs as well if your kid goes/makes the grade), if the road in front of you house needs reaphalting, the house owners co-pay. The model where you have a democracy, rule of law, private ownership of production and some social services and regulations to mitigate the worst impulses of capitalism is a mixed economy/social democracy. Sounds a lot like the US, no?
This is what Morgen Housel says in his book, The Psychology of Money “:
Rich is a current income. Someone driving a $100,000 car is almost certainly rich, because even if they purchased the car with debt you need a certain level of income to afford the monthly payment. Same with those who live in big homes. It’s not hard to spot rich people. They often go out of their way to make themselves known. But wealth is hidden. It’s income not spent. Wealth is an option not yet taken to buy something later. Its value lies in offering you options, flexibility, and growth to one day purchase more stuff than you could right now.
„People sometimes ask me if I get bored. I say, “sometimes, then I just take a nap and it goes away”.“I will remember this and when the time comes, I‘ll be working it into my conversations and vocabulary! LOL!What a wonderful saying! I favor siesta over nap. A siesta is a conscious choice, a nap sounds like you’re tired and need the sleep, an old fogey issue - haha!
It is similar in Germany! People have the right to walk, bike, etc on private and public lands. Yes, there are rules with penalties - don’t walk on fields for farming, stay on paths (in the forest you can walk anywhere), no camping, dogs on leashes (sometimes), garbage out. In general, be sensible. It’s so nice to get out into nature quickly. In fact, we have a paved path for bikers and walkers along the Rhine river, yes, with wine tasting stands along the way at every village. I gladly pay more taxes here because the wine is cheaper, so, all in, I’m living more frugally than in the US! They call it geo-arbitrage - haha!
I know how you feel, I have the same issue with expensive bicycles. You hate yourself for taking the plunge when you are outside of the car. Then you hop in, close the door and all of a sudden those feelings of guilt melt away. IMHO if I were you I would buy the Mercedes with all the options! In fact, I would fly over here to Germany to do the official hand-over/unboxing at the assembly plant! I can imagine you sitting in your shiny new car like a kid in a candy store dazzling over the electronic displays and features! Maybe you are no longer doing the long road trips but the short ones out to the house or down the shore will still be enjoyable. Even picking the grandkids up from Action Park (Oops, that’s long closed! Haha, read about that)! There’s nothing quite like the quiet Autobahn at 120mph, no outside noise and listening to Jackson Browne sing ‘Looking out at the road rushing under your wheels’ at a low volume! A car built to drive 150mph with ease and finesse! 65mph on the Turnpike may not give you that same thrill but heck you could if you wanted to! Maybe one day I’ll be at that crossroads where you are right now. Until then I’ll be saving for that ability and may it arrive soon!
Still working on my nest egg (57) so I’ll be with Megacorp for a while yet. I’m loving it when the work is enjoyable/under my control and hating it when bureaucracy and self-inflicted issues dominate - it’s craziness right now. Lockdown helped me to reflect on activities (like reading more) and things I wanted to do outside of work. I started repairing coffee machines for family, believe that! YouTube will teach you anything! I then picked up the old guitar I hadn’t played in 30 years. Got a teacher and use YouTube - now I’m thinking I should have become a rock star instead of a businessman! Lovin’ it (my family is very patient and forgiving)! Travel and Fitness
Ever consider combining the two? For example, we enjoy going to a beautiful quiet village somewhere in France in summer. I’ll go on wonderful bike rides (thanks to Garmin/Wahoo) every other morning and otherwise explore the region with family. You can find great and cheap places in the countryside. Eat lunch at the restaurants and do dinner at home. Get yourself fit and if you want a challenge - head over to Ventoux or Arenberg Forest or other crazy stuff!
It’s like your own little private training center - after 3 weeks, you’ll be a lean, mean, cycling machine (without hurting yourself) Ride, rest, eat, drink, be merry. Repeat.
Save money that way and pony up for a direct flight with premium economy!
Spoiler alert: I live in Germany so only a car ride to France but spectacular cycling all over. I can only speak enough French to say that I can’t speak French. We all laugh and it is at that moment when our sense of humanity arrives.
Working and living in Germany has given me some advantages like being able to see most of Europe and have enough vacation time to explore my fascinating and beautiful home country of USA! We love the road trips. The US has so many natural wonders and the driving is imho quite relaxed (outside of NYC)!
My car top ends on the Autobahn at 140mph which is quite a thrill (well maintained with good tires -important). In Indiana we were stopped because I was enjoying the scenery and clocked at 95. The policeman had been stationed in Germany so he gave us a warning - learned my lesson, whew! Hard to drive so slow - haha!
My parents just visited us. They are 86! They have always loved travelling. We got them to do premium economy, a direct flight, had airport wheelchairs, and my brother accompanied them. They had a wonderful time.
So, I guess the motto is to keep on keeping on!
Thank you for your article. I would say for Germany, businesses have been slow to adopt because of the 1-5% vendor fee which they need to pay to the CC companies. That is why most prefer cash or debit card. The trend is there, but if you don‘t want the hassle in taxis or local restaurants, have cash on hand. Most restaurants here are not megacorp chains but locally run with fresh ingredients, high quality, lower priced wine, etc. So, their margins are tight. I hope we can hold off the chains as long as possible here, for foods sake.
I have been in emerging market for a while , buy and hold ETF. My concern is that you need a stabile country, a democracy would be wonderful LOL, and some real rules and regulations in those markets. Otherwise, I fear meaningful returns due to corruption, cronyism, etc. will be a pipe dream. Maybe in and out is a better strategy?
Comments
Yes, you‘re right, $30,000 was many years ago in East Brunswick. Well known and high achieving school district back then at least.
Post: Ida M Fuller, Social Security, EVs, taxes and a 340 million person society-Quinn rambles on, but with a purpose
Link to comment from April 15, 2025
Investopedia has some good explanations on what communism and socialism is and their differences. Also, the Nordic model. Things like SS, educational/university support, union activity, healthcare, infrastructure projects, etc. are always bunched together and deemed as ‚nasty socialism’. I live in Germany, the days of state-owned corporations are long over (except minority stakes in VW, railroad, communal energy, etc). We pay our normal income taxes (progressive, with SS%, unemployment %, disability, infrastructure tax), we pay property tax but only a few thousand a year for a house - not 30,000/yr like in NJ, we pay 50/50 for healthcare (you can also choose private if you make above a certain amount, we pay for university (several thousand a year, housing costs as well if your kid goes/makes the grade), if the road in front of you house needs reaphalting, the house owners co-pay. The model where you have a democracy, rule of law, private ownership of production and some social services and regulations to mitigate the worst impulses of capitalism is a mixed economy/social democracy. Sounds a lot like the US, no?
Post: Ida M Fuller, Social Security, EVs, taxes and a 340 million person society-Quinn rambles on, but with a purpose
Link to comment from April 15, 2025
This is what Morgen Housel says in his book, The Psychology of Money “: Rich is a current income. Someone driving a $100,000 car is almost certainly rich, because even if they purchased the car with debt you need a certain level of income to afford the monthly payment. Same with those who live in big homes. It’s not hard to spot rich people. They often go out of their way to make themselves known. But wealth is hidden. It’s income not spent. Wealth is an option not yet taken to buy something later. Its value lies in offering you options, flexibility, and growth to one day purchase more stuff than you could right now.
Post: Are you wealthy or just rich?
Link to comment from December 20, 2024
„People sometimes ask me if I get bored. I say, “sometimes, then I just take a nap and it goes away”.“ I will remember this and when the time comes, I‘ll be working it into my conversations and vocabulary! LOL! What a wonderful saying! I favor siesta over nap. A siesta is a conscious choice, a nap sounds like you’re tired and need the sleep, an old fogey issue - haha!
Post: My Perfect Daze
Link to comment from May 1, 2024
It is similar in Germany! People have the right to walk, bike, etc on private and public lands. Yes, there are rules with penalties - don’t walk on fields for farming, stay on paths (in the forest you can walk anywhere), no camping, dogs on leashes (sometimes), garbage out. In general, be sensible. It’s so nice to get out into nature quickly. In fact, we have a paved path for bikers and walkers along the Rhine river, yes, with wine tasting stands along the way at every village. I gladly pay more taxes here because the wine is cheaper, so, all in, I’m living more frugally than in the US! They call it geo-arbitrage - haha!
Post: Free to Roam
Link to comment from October 7, 2023
I know how you feel, I have the same issue with expensive bicycles. You hate yourself for taking the plunge when you are outside of the car. Then you hop in, close the door and all of a sudden those feelings of guilt melt away. IMHO if I were you I would buy the Mercedes with all the options! In fact, I would fly over here to Germany to do the official hand-over/unboxing at the assembly plant! I can imagine you sitting in your shiny new car like a kid in a candy store dazzling over the electronic displays and features! Maybe you are no longer doing the long road trips but the short ones out to the house or down the shore will still be enjoyable. Even picking the grandkids up from Action Park (Oops, that’s long closed! Haha, read about that)! There’s nothing quite like the quiet Autobahn at 120mph, no outside noise and listening to Jackson Browne sing ‘Looking out at the road rushing under your wheels’ at a low volume! A car built to drive 150mph with ease and finesse! 65mph on the Turnpike may not give you that same thrill but heck you could if you wanted to! Maybe one day I’ll be at that crossroads where you are right now. Until then I’ll be saving for that ability and may it arrive soon!
Post: My Car Journey
Link to comment from September 2, 2023
Still working on my nest egg (57) so I’ll be with Megacorp for a while yet. I’m loving it when the work is enjoyable/under my control and hating it when bureaucracy and self-inflicted issues dominate - it’s craziness right now. Lockdown helped me to reflect on activities (like reading more) and things I wanted to do outside of work. I started repairing coffee machines for family, believe that! YouTube will teach you anything! I then picked up the old guitar I hadn’t played in 30 years. Got a teacher and use YouTube - now I’m thinking I should have become a rock star instead of a businessman! Lovin’ it (my family is very patient and forgiving)! Travel and Fitness Ever consider combining the two? For example, we enjoy going to a beautiful quiet village somewhere in France in summer. I’ll go on wonderful bike rides (thanks to Garmin/Wahoo) every other morning and otherwise explore the region with family. You can find great and cheap places in the countryside. Eat lunch at the restaurants and do dinner at home. Get yourself fit and if you want a challenge - head over to Ventoux or Arenberg Forest or other crazy stuff! It’s like your own little private training center - after 3 weeks, you’ll be a lean, mean, cycling machine (without hurting yourself) Ride, rest, eat, drink, be merry. Repeat. Save money that way and pony up for a direct flight with premium economy! Spoiler alert: I live in Germany so only a car ride to France but spectacular cycling all over. I can only speak enough French to say that I can’t speak French. We all laugh and it is at that moment when our sense of humanity arrives.
Post: Wishing My Life Away
Link to comment from April 8, 2023
Working and living in Germany has given me some advantages like being able to see most of Europe and have enough vacation time to explore my fascinating and beautiful home country of USA! We love the road trips. The US has so many natural wonders and the driving is imho quite relaxed (outside of NYC)! My car top ends on the Autobahn at 140mph which is quite a thrill (well maintained with good tires -important). In Indiana we were stopped because I was enjoying the scenery and clocked at 95. The policeman had been stationed in Germany so he gave us a warning - learned my lesson, whew! Hard to drive so slow - haha! My parents just visited us. They are 86! They have always loved travelling. We got them to do premium economy, a direct flight, had airport wheelchairs, and my brother accompanied them. They had a wonderful time. So, I guess the motto is to keep on keeping on!
Post: America the Drivable
Link to comment from November 27, 2022
Thank you for your article. I would say for Germany, businesses have been slow to adopt because of the 1-5% vendor fee which they need to pay to the CC companies. That is why most prefer cash or debit card. The trend is there, but if you don‘t want the hassle in taxis or local restaurants, have cash on hand. Most restaurants here are not megacorp chains but locally run with fresh ingredients, high quality, lower priced wine, etc. So, their margins are tight. I hope we can hold off the chains as long as possible here, for foods sake.
Post: Cashing In
Link to comment from March 18, 2022
I have been in emerging market for a while , buy and hold ETF. My concern is that you need a stabile country, a democracy would be wonderful LOL, and some real rules and regulations in those markets. Otherwise, I fear meaningful returns due to corruption, cronyism, etc. will be a pipe dream. Maybe in and out is a better strategy?
Post: Tale of the Tape
Link to comment from January 20, 2022