It was television before social media although I think social media seems worse. It’s also politicians and non-political news (if there is such a thing) telling them that they deserve this and that and that the politician will give it to them or that someone has cheated them out of it whatever it is.
I agree with you. Also, my four are 25 to 31.
in addition to social media promises now, there were television and television, advertisement promises yesteryear, and worst of all there are unkept political
promises about how good things can be in the future although that future doesn’t materialize and in some cases gets even worse than the present. All that and more breeds discontent and statements like were in the Wall Street Journal article.
It seems odd to me that the major financial retirement vehicle is an originally obscure tax code provision. I’d prefer zero inflation instead of purposefully trying for 2% inflation which cuts the value of savings in half over a working person’s career. So, we could earn while young and save for the future knowing our savings would have buying power equal to today, not just in things like technology, which improve but also in the basics like healthcare, housing, education, food, etc. I don’t think the retirement crisis is necessarily widespread though. I’ve had many tenants whose only income is Social Security. They all have a nice place to live and a couple of them live where I used to live in properties that I bought, moved from, then rented. Their utilities are affordable and they don’t lack food. My eyes show me that the basics are covered in my area. So I should also be able to live solely on Social Security. HD readers probably know people who live only on Social Security and still save. Do I sometimes forgive rent and debts and help people? Yes. I don’t think I would’ve 100% had to though but there’s too much to say about that to address in a simple reply post.
What has driven changes in my spending in the past few years? I’m sitting on several lots / parcels of land, both developed with utilities, which I’ve delayed building on because of the phenomenally, rapid rise in construction, labor and materials in just a few short years. I’m not sure if anyone here has development experience, but it’s high risk because the developer tends to front so much cost not knowing if there will be customers to use the land. Fortunately, for me, that’s not an issue for me now. I understand there are some areas where development costs are passed on to people like homeowners in the form of special property taxes but in my area, the developer carries those costs. The construction price rise is incredibly sad for me because I know people would like to buy a house that’s affordable, but it’s not possible for me to build one at 2020 prices. I would build residential at zero margin for my own grown children who are all employed in medical or STEM but in my area appraisal values haven’t kept up with existing neighborhoods yet, meaning homebuyers need a very large down payment to make up the difference between an appraisal and a cost of a new build. That should balance out in time if the cost of existing homes remains high though. Yes, my paper assets like mutual funds have also gone up in “value” measured solely against dollars though, as some commenters have noted already.
It’s not the wildfires, hurricanes or tornadoes. It’s the cost to rebuild after those events as well as other events. I’m confident there are people who are happy when a storm damages their roof because they get an insurance replacement at little cost to themselves - in the short run.The insurance company pays the cost though and then that adds up over the overall loss ratio in the long run,which it would not if costs to repair or replace were less like they used to be.
Comments
I have all 3 also. I tend to like Schwab the most. Easy website.
Post: Schwab or Vanguard?
Link to comment from January 18, 2026
The public debt works the same way.
Post: The impossibility of defining needs.
Link to comment from January 10, 2026
It was television before social media although I think social media seems worse. It’s also politicians and non-political news (if there is such a thing) telling them that they deserve this and that and that the politician will give it to them or that someone has cheated them out of it whatever it is.
Post: The impossibility of defining needs.
Link to comment from January 10, 2026
Sounds like the majority in your area are voting for people who think they need to tax and spend your money more than you need your money.
Post: The impossibility of defining needs.
Link to comment from January 10, 2026
Is the safety net smaller now than it was in 1960 or 1930 or before? I wouldn’t think so?
Post: The impossibility of defining needs.
Link to comment from January 10, 2026
I think maybe we do need to help them understand about delaying gratification.
Post: The impossibility of defining needs.
Link to comment from January 10, 2026
I agree with you. Also, my four are 25 to 31. in addition to social media promises now, there were television and television, advertisement promises yesteryear, and worst of all there are unkept political promises about how good things can be in the future although that future doesn’t materialize and in some cases gets even worse than the present. All that and more breeds discontent and statements like were in the Wall Street Journal article.
Post: The impossibility of defining needs.
Link to comment from January 10, 2026
It seems odd to me that the major financial retirement vehicle is an originally obscure tax code provision. I’d prefer zero inflation instead of purposefully trying for 2% inflation which cuts the value of savings in half over a working person’s career. So, we could earn while young and save for the future knowing our savings would have buying power equal to today, not just in things like technology, which improve but also in the basics like healthcare, housing, education, food, etc. I don’t think the retirement crisis is necessarily widespread though. I’ve had many tenants whose only income is Social Security. They all have a nice place to live and a couple of them live where I used to live in properties that I bought, moved from, then rented. Their utilities are affordable and they don’t lack food. My eyes show me that the basics are covered in my area. So I should also be able to live solely on Social Security. HD readers probably know people who live only on Social Security and still save. Do I sometimes forgive rent and debts and help people? Yes. I don’t think I would’ve 100% had to though but there’s too much to say about that to address in a simple reply post.
Post: How do you really feel about 401k plans?
Link to comment from January 10, 2026
What has driven changes in my spending in the past few years? I’m sitting on several lots / parcels of land, both developed with utilities, which I’ve delayed building on because of the phenomenally, rapid rise in construction, labor and materials in just a few short years. I’m not sure if anyone here has development experience, but it’s high risk because the developer tends to front so much cost not knowing if there will be customers to use the land. Fortunately, for me, that’s not an issue for me now. I understand there are some areas where development costs are passed on to people like homeowners in the form of special property taxes but in my area, the developer carries those costs. The construction price rise is incredibly sad for me because I know people would like to buy a house that’s affordable, but it’s not possible for me to build one at 2020 prices. I would build residential at zero margin for my own grown children who are all employed in medical or STEM but in my area appraisal values haven’t kept up with existing neighborhoods yet, meaning homebuyers need a very large down payment to make up the difference between an appraisal and a cost of a new build. That should balance out in time if the cost of existing homes remains high though. Yes, my paper assets like mutual funds have also gone up in “value” measured solely against dollars though, as some commenters have noted already.
Post: 27 Months
Link to comment from December 18, 2025
It’s not the wildfires, hurricanes or tornadoes. It’s the cost to rebuild after those events as well as other events. I’m confident there are people who are happy when a storm damages their roof because they get an insurance replacement at little cost to themselves - in the short run.The insurance company pays the cost though and then that adds up over the overall loss ratio in the long run,which it would not if costs to repair or replace were less like they used to be.
Post: 27 Months
Link to comment from December 18, 2025