Quan: May God Bless you in your time of sorrow. My older brother was KIA in Vietnam in 1965, when I was 15. I lost my nom and step mom in a 10 month span, in 2010-2011. My dad died at 53, very early on in my life, 1980, when I was 29. My younger broither died of AIDS in 1991, when I was 41. My stepdad died at 94, in 2018, when I was 68. My younger sister died in 2020, when I was 70. Question 1. We never know when our loved ones will leave us, but at my age, (75) I have few loved ones left to lose...my wife, my two children, and one younger sister, (who is 72 and is suffering from dementi aand has just moved in with her daughter,) all all the family I have left. My wife is in a similar situation, with two of her siblings still living, but her parents and 3 other siblings having already passed. Question 2. I retired in 2024. I have't really been surprised by anything...but I was amazed to feel the weight of the world lifted from my shoulders, when I realized that I didn't have to do anything I didn't want to do, because other than my wife of 51 years, I owed nothing to anyone. We are debt free, no mortgage, and have well more than we need financially. Originally, like most retirees, I was concerned about the money lasting as long as iwedo, but annuities and Social Security solved that issue. Our guanteed income is almost twice our retirement expoenses...with only using 4% of our portfolio annually. If we need additional income in the future, we can simply stop using our RMDs ($16,777.31 in 2026) as QCDs. After reading Bill Perkins' book, Die With Zero, we have begun gifting annual gifts to our 2 children, rather than waiting for them to inherit whatever is left, when we die. Question 3. Because we are financially free, I have been volunteering pro-bono at my church, a food pantry, Meals on Wheels, and a number of other charities through my affiliation with the Knights of Columbus. To fulfill a life long ambition to earn my doctorate, I am also completing a doctoral degree in Ministry and became a licensed chaplain. The secret to a fulfilling life is now, and always will be, service to others. Happy New Year!
And once again the question must be asked...WHERE did this "AI" get its information, and WHO "programmed" the AI source? Add to that the laziness of so-called journalists today, and you get the reports upon which this AI is based, and conversely, the sources other journalists use for their sources. BEWARE of quoting AI.
Nick: I was a practicing CFP for over 30 years, and I taught financial and retirement planning to Financial Advisor professionals for the last 15 years before retiring in 2024. I will absolutely second your opinion. The level of financial ignorance among the American Population is far greater than most would imagine, and it is not limited to lower-income Americans. It isn't so much what people don't know, it is more so that what they think they know...is wrong. It begins in high school, and i am happy to report that help is on the horizon, since many states are now mandating an economics course for high school juniors and seniors, in order to graduate.
RQ: I second that motion. Sowing division and class envy is a staple of the Main Stream Media. I sent a note to my children regarding Black Friday sales... pointing out that apparently I have reached the true level of "wealth"...and that is contentment. I bought absolutely nothing on Black Friday, for the 3rd or 4th year in a row. Christmas presents are a similar issue...My wife asked for new PJs and furry slippers with rubber soles. (She has been wearing an emerald and ruby ring that was "for Christmas, for the past month, Ha!) I asked for a fancy coffee blend from Fresh Market and an Amazon Gift card. I told my kids to get gift cards to "Word on Fire," a Catholic Publisher whose books I love,
if they feel the need to get me something. (I tell them I do not need anything, but that never works.) John Bogle wrote a great book entitled "Enough." Like most of his works, it was spot on. I am thankful that I have been blessed in my life in many ways, including financially, and I believe I do have "Enough."
R Quinn...Unlike several of those responding to this article, I agree with your perception of this being a positive step forward for the average employee and average investor. Based on the lack of financial intelligence of the vast majority of consumers of financial products, having the options worked out for them is key, since otherwise, they would either pick wrong or not pick at all. Sort of like people in 401-k or 403bs, with all their money in GIC accounts. As someone who purchased a series of 4 large annuities prior to retirement, 3 of 4 with Roth Dollars, I absolutely love the checks that are deposited in my bank account on the 5th, 6th, 7th, and 15th of every month, along with our social security checks on the second Wednesday of every month. Having a significant guaranteed income provides the greatest peace of mind imaginable. Just like I find on the Bogleheads website, many HD readers are apparently "annuity averse," to say the least. The one annuity I funded with Traditional IRA dollars will be converted to Roth over the next 2 years, while keeping me in the 12% tax bracket, and within 4 years, approximately 50% of my current traditional IRA will also be converted to Roth Dollars, because of the One Big Beautiful Bill provisions in effect for these 4 years. Five years from now, 90% of my income will either have COLA and/or be income tax-free. Those opposed to annuities are only too happy to accept their Social Security Checks...the world's best annuity...so it is a mystery to me why so many are averse to owning additional annuities controlled by the investor. To each their own...so they say!
RDQ… The magic word is IF! IF you claim early and INVEST… Years ago, in the late 70’s a guy by the name of A L Williams devised a scheme to “beat the insurance industry at their crooked game!” “How”, you might ask? He developed the strategy of “Buying Term, and Investing Difference.” I am NOT suggesting your motives for your recommendation for consideration of Claiming social security are anything like his regarding life insurance, but I BELIEVE the outcome will be similar! Williams’ strategy involved advising and assisting people in surrendering WHOLE LIFE or permanent life policies, stripping out the cash values to invest in mutual funds, and buying Term Insurance instead. Disregarding the facts that Williams and all of his acolytes(he created an MLM Organization with which he caused untold damage to American life insurance policy owners) sold a terrible, low rated term product, and then recommended mutual funds with the highest fees in the market, at the time. Williams became a multi-millionaire, and as you might suspect, his MLM acolytes usually made very little and quit after a short period of “going for it!” Now…the problem with A L Williams’ strategy was simply that many people surrendered their permanent insurance but they did not “invest the difference.” They spent it. And then their subpar Term Policies would lapse and they were left with nothing! Claiming early with Social Security will never “leave you with nothing,” but I am afraid many people will not save and invest their benefit dollars, rather they will simply spend them. Not HD readers, of course, but many others. Your calculations aside, it isn’t that it’s not possible, it is however far more risky. 8% guaranteed, with COLA, is hard to beat in the market. But it is also likely that reasons will crop up that cause one to “need the money this month, but I will get back on plan next month.”
After all, life happens. As others have and will say, it’s a personal decision! I waited until 70, because I was still working, and for my wife and me, it was the best decision. If a person needs the money to live on at 62, 67, or anywhere in between, file! We are receiving $73,000 annually in benefits in 2024. We will have recovered 100% of our contributions in 6-7 years. God willing, we will be here to enjoy our hard earned benefits!
GET Woke? Bite your tongue! Vanguard does not need another major screw up To alienate even more of its shareholders! They have only recently reversed their idiotic ESG position, under pressure from shareholders!
One major difference, however, is Berkshire Hathaway is not “bowing at the altar of ESG.” In reality, Berkshire Hathaway is actually opposing implementation of ESG policies on its businesses. And this is as it should be. Their responsibility is to shareholders, not Woke, Leftist Policies. it took Vanguard a while to see the light.
Comments
Quan: May God Bless you in your time of sorrow. My older brother was KIA in Vietnam in 1965, when I was 15. I lost my nom and step mom in a 10 month span, in 2010-2011. My dad died at 53, very early on in my life, 1980, when I was 29. My younger broither died of AIDS in 1991, when I was 41. My stepdad died at 94, in 2018, when I was 68. My younger sister died in 2020, when I was 70. Question 1. We never know when our loved ones will leave us, but at my age, (75) I have few loved ones left to lose...my wife, my two children, and one younger sister, (who is 72 and is suffering from dementi aand has just moved in with her daughter,) all all the family I have left. My wife is in a similar situation, with two of her siblings still living, but her parents and 3 other siblings having already passed. Question 2. I retired in 2024. I have't really been surprised by anything...but I was amazed to feel the weight of the world lifted from my shoulders, when I realized that I didn't have to do anything I didn't want to do, because other than my wife of 51 years, I owed nothing to anyone. We are debt free, no mortgage, and have well more than we need financially. Originally, like most retirees, I was concerned about the money lasting as long as iwedo, but annuities and Social Security solved that issue. Our guanteed income is almost twice our retirement expoenses...with only using 4% of our portfolio annually. If we need additional income in the future, we can simply stop using our RMDs ($16,777.31 in 2026) as QCDs. After reading Bill Perkins' book, Die With Zero, we have begun gifting annual gifts to our 2 children, rather than waiting for them to inherit whatever is left, when we die. Question 3. Because we are financially free, I have been volunteering pro-bono at my church, a food pantry, Meals on Wheels, and a number of other charities through my affiliation with the Knights of Columbus. To fulfill a life long ambition to earn my doctorate, I am also completing a doctoral degree in Ministry and became a licensed chaplain. The secret to a fulfilling life is now, and always will be, service to others. Happy New Year!
Post: Seeking the Wisdom of the Ages
Link to comment from January 2, 2026
And once again the question must be asked...WHERE did this "AI" get its information, and WHO "programmed" the AI source? Add to that the laziness of so-called journalists today, and you get the reports upon which this AI is based, and conversely, the sources other journalists use for their sources. BEWARE of quoting AI.
Post: Black Friday blues come February
Link to comment from December 10, 2025
Nick: I was a practicing CFP for over 30 years, and I taught financial and retirement planning to Financial Advisor professionals for the last 15 years before retiring in 2024. I will absolutely second your opinion. The level of financial ignorance among the American Population is far greater than most would imagine, and it is not limited to lower-income Americans. It isn't so much what people don't know, it is more so that what they think they know...is wrong. It begins in high school, and i am happy to report that help is on the horizon, since many states are now mandating an economics course for high school juniors and seniors, in order to graduate.
Post: Black Friday blues come February
Link to comment from December 10, 2025
RQ: I second that motion. Sowing division and class envy is a staple of the Main Stream Media. I sent a note to my children regarding Black Friday sales... pointing out that apparently I have reached the true level of "wealth"...and that is contentment. I bought absolutely nothing on Black Friday, for the 3rd or 4th year in a row. Christmas presents are a similar issue...My wife asked for new PJs and furry slippers with rubber soles. (She has been wearing an emerald and ruby ring that was "for Christmas, for the past month, Ha!) I asked for a fancy coffee blend from Fresh Market and an Amazon Gift card. I told my kids to get gift cards to "Word on Fire," a Catholic Publisher whose books I love, if they feel the need to get me something. (I tell them I do not need anything, but that never works.) John Bogle wrote a great book entitled "Enough." Like most of his works, it was spot on. I am thankful that I have been blessed in my life in many ways, including financially, and I believe I do have "Enough."
Post: Black Friday blues come February
Link to comment from December 10, 2025
R Quinn...Unlike several of those responding to this article, I agree with your perception of this being a positive step forward for the average employee and average investor. Based on the lack of financial intelligence of the vast majority of consumers of financial products, having the options worked out for them is key, since otherwise, they would either pick wrong or not pick at all. Sort of like people in 401-k or 403bs, with all their money in GIC accounts. As someone who purchased a series of 4 large annuities prior to retirement, 3 of 4 with Roth Dollars, I absolutely love the checks that are deposited in my bank account on the 5th, 6th, 7th, and 15th of every month, along with our social security checks on the second Wednesday of every month. Having a significant guaranteed income provides the greatest peace of mind imaginable. Just like I find on the Bogleheads website, many HD readers are apparently "annuity averse," to say the least. The one annuity I funded with Traditional IRA dollars will be converted to Roth over the next 2 years, while keeping me in the 12% tax bracket, and within 4 years, approximately 50% of my current traditional IRA will also be converted to Roth Dollars, because of the One Big Beautiful Bill provisions in effect for these 4 years. Five years from now, 90% of my income will either have COLA and/or be income tax-free. Those opposed to annuities are only too happy to accept their Social Security Checks...the world's best annuity...so it is a mystery to me why so many are averse to owning additional annuities controlled by the investor. To each their own...so they say!
Post: The annuities are coming, the annuities are coming‼️
Link to comment from December 5, 2025
Congrats on actually “investing the difference!” Far to few do.
Post: Let’s do the math on Social Security- my simplistic math not guaranteed and possibly flawed, but with a good end result for us – I hope. RDQ
Link to comment from October 25, 2024
RDQ… The magic word is IF! IF you claim early and INVEST… Years ago, in the late 70’s a guy by the name of A L Williams devised a scheme to “beat the insurance industry at their crooked game!” “How”, you might ask? He developed the strategy of “Buying Term, and Investing Difference.” I am NOT suggesting your motives for your recommendation for consideration of Claiming social security are anything like his regarding life insurance, but I BELIEVE the outcome will be similar! Williams’ strategy involved advising and assisting people in surrendering WHOLE LIFE or permanent life policies, stripping out the cash values to invest in mutual funds, and buying Term Insurance instead. Disregarding the facts that Williams and all of his acolytes(he created an MLM Organization with which he caused untold damage to American life insurance policy owners) sold a terrible, low rated term product, and then recommended mutual funds with the highest fees in the market, at the time. Williams became a multi-millionaire, and as you might suspect, his MLM acolytes usually made very little and quit after a short period of “going for it!” Now…the problem with A L Williams’ strategy was simply that many people surrendered their permanent insurance but they did not “invest the difference.” They spent it. And then their subpar Term Policies would lapse and they were left with nothing! Claiming early with Social Security will never “leave you with nothing,” but I am afraid many people will not save and invest their benefit dollars, rather they will simply spend them. Not HD readers, of course, but many others. Your calculations aside, it isn’t that it’s not possible, it is however far more risky. 8% guaranteed, with COLA, is hard to beat in the market. But it is also likely that reasons will crop up that cause one to “need the money this month, but I will get back on plan next month.” After all, life happens. As others have and will say, it’s a personal decision! I waited until 70, because I was still working, and for my wife and me, it was the best decision. If a person needs the money to live on at 62, 67, or anywhere in between, file! We are receiving $73,000 annually in benefits in 2024. We will have recovered 100% of our contributions in 6-7 years. God willing, we will be here to enjoy our hard earned benefits!
Post: Let’s do the math on Social Security- my simplistic math not guaranteed and possibly flawed, but with a good end result for us – I hope. RDQ
Link to comment from October 24, 2024
GET Woke? Bite your tongue! Vanguard does not need another major screw up To alienate even more of its shareholders! They have only recently reversed their idiotic ESG position, under pressure from shareholders!
Post: Unwanted Attention
Link to comment from August 28, 2024
One major difference, however, is Berkshire Hathaway is not “bowing at the altar of ESG.” In reality, Berkshire Hathaway is actually opposing implementation of ESG policies on its businesses. And this is as it should be. Their responsibility is to shareholders, not Woke, Leftist Policies. it took Vanguard a while to see the light.
Post: Unwanted Attention
Link to comment from August 28, 2024