Glad to see you made it to the "two-comma club" as well. Welcome, new member, and Congratulations. It really is a simple process. NOT easy, but simple.
Not paying fees for unneeded services is a smart decision. Leaving a spouse to fend for herself financially, after your demise...questionable to say the least. My wife, like yours, has zero interest in learning how to handle the investments, insurance, etc. For that reason, I have two advisors. One is a Vanguard. CFP, 33 years old, paid by salary. Vanguard's total fee for his services is 30 basis points a year, or .03%. His value to me is to advise my wife about our Vanguard Portfolio after my death. If he leaves the company, another qualified CFP will take his place, and the service will continue. My portfolio consists of VTI and VXUS, and I advised my wife not to change it after I am gone. The second advisor is actually an insurance professional. His company services our annuity contracts. His staff is in their 30's. He is 55 years old. They are credentialed and qualified to do the job for which I retain them. They charge no annual fees. The only real change that might have to be made in the future would be the result of my wife needing LTC. She is not insured against the need for LTC because she could not qualify for a policy. Should that need occur, the annuities we have will increase their payouts by 505 annually, for up to five years, and then revert to lifetime payments at the standard amounts. She would also have access to RMDs, currently being used for QCDs, and the investment portfolio. We have no debts and no mortgage payment, and even without her social security check, my remaining social security check, which we will receive, will exceed her retirement expenses. I also prepared a detailed letter, listing all accounts, account numbers, access codes, user names, passwords, addresses, phone numbers, etc. so all she has to do is make four phone calls. I suggest you consider something similar.
Mark: I am certain Johnathan would be humble in his appreciation of your remarks. Personally, I think it is one of the most uplifting articles I have read recently. The old saying, "Great Minds think alike," came to mind as I read your comments regarding Johnathan's penchant for simplicity. It reminded me of the teachings of Jack Bogle, the person most responsible for the creation of the Index Fund, and the industry giant, Vanguard Group.. One of Bogle's most famous quotes, regarding the market and it's flucuations was, "Don't do something! Just stand there." As difficult as it is to do sometimes, knowing that I already own a piece of almost every company on earth, makes it easier to resist the desire to execute my master strategy to beat the market, or find the next "big thing." I own two ETFs. VTI and VXUS. They comprise 100% of my portfolio, consisting of Roth IRA's, Traditional IRAs, and Taxable Brokerage Accounts. 80% in Vanguard's Total US Stock Market and 20% in Vanguard's Total International Stock Market. No matter the company, no matter where in the World, if it's public, I own a piece of it. Because of the structure of my retirement income streams, I am fortunate not to have to use my portfolio to produce retirement income. Social Security and annuity income streams provide that. My portfolio is there to grow, provide for later in life income options, and later in life catastrophic care dollars, should my wife need LTC, and finally, to leave a legacy to our children. And from time to time, perhaps a lifestyle opportunity, like travel, but that will be decreasing over the next five years. It's simple, tax-efficient, and low-maintenance. It also avoids AUM fees of 1% and higher by advisors, 92% of whom cannot consistently outperform the S&P 500. I look forward to your next article.
We have started doing that as well...at Food Lion, Walmart, and Carlie C's...the stores we shop at the most. I really like the notes on the aisle location.
Doug: We are of like mind. I have instituted many, if not all, of your mentioned simplifications, except for spousal access and mutual digital calendars. While my wife has 100% access to all of our assets and accounts, she is NOT a "techie person," as she calls it, and would be hard-pressed to do anything online, other than buying craft stuff on eBay and getting recipes from the Food Network. Previous attempts to "train her" to use the financial aspects of the computer have been "less than. enthusiastically embraced." Same for the calendar. I keep a digital calendar, but we also have a wall calendar we both share. I add my stuff to her's on the calendar as needed, so we each know when we can schedule things. As far as financial records, I have a document that is both a "hard copy" and digital, with the digital version kept on the desktop of my computer. My wife keeps the "hard copy" in her stand-up jewelry case, and she has the password to open my computer. The document is basically a step-by-step guide instructing her what to do if I don't wake up tomorrow. All banking and financial accounts, passwords, assets, and addresses for accounts, advisors, and our attorney are listed in the document. It is updated monthly and/or when anything major occurs, such as my recently discovered veteran's benefit of $2004 doillars for funeral expenses. I discovered this benefit, which only came into existence in October 2025, when arranging for my father's inurnment later this month. Although he is not eligible for it, because he died in 2018, when I die, my beneficiaries will enjoy that benefit. Admittedly, my document is "old school," but it suits my wife. Our daughter, who is our executrix, also receives a copy of the document when it is updated, without account numbers or passwords.
100% of our retirement is in "guaranteed money"...Social Security & Annuities. Portfolio is 100% in VTI and VXUS (80/20) since it is not used for income. We can just watch it recover over the next 9-10 months or 1-2 years, whichever course the market decides to take. I am a Bogle disciple. "Stay the Course." Our retirement plans have not changed, so neither has our portfolio.
Great article, Mark! My bride of 52 years gave up all sweets for Lent. I have a GIANT Easter basket full of all the "good stuff" hidden in my office closet, including a Roche Easter Bunny for myself nd a LARGE Reese's Peanut Butter Chocolate one for her. Me? I gave up Coffee for Lent. After the first 3-4 days of headaches, it has been manageable. It's not really the coffee that gets to me... It's the Sweetner and the Carnation Hazelnut Cleamer that I crave. Only two and a wake-up!
I experienced the persistence of a Fisher's Vice President's follow-up after an initial conversation. Because of my background in insurance & investments, as well as college teaching in those areas, I dismissed Fisher's program. Any advisor who advises you not to consider a powerful financial tool (an annuity) is automatically suspect to me. Their Fee Schedule also turned me off, in a major way, since it is borderline greedy. As far as their brochure and its recommendations are concerned, it's actually not a bad brochure. Many of the recommendations make great sense! As far as laundry is concerned...one of the greatest gifts my mom gave me was a young man was how to do my own laundry, how to do minor sewing tasks, and how to iron clothes nicely! Add to that how to do basic cooking, and I was ready to take care of myself. She also taught me how to appreciate a wife...and I have never told my wife how to do our laundry. Ha! She didn't tell me how to give clients financial advice or teach college classes, and I don't tell her how to keep our home!
"It is never wrong to do the right thing," attributed to Mark Twain, seems appropriate here. In every generation, there are problems one is forced to deal with. It has always been the case, and I doubt it will ever change to be otherwise. The difference is only what each generation is forced to live with. Is it really harder today than it was in the 1920s and 30s...the 1940s...? Being empathetic costs you nothing and may actually help someone else. Being charitable is always the right thing to do, whether it is emotionally, spiritually, or fiscally. I would venture to say some, but not all, of those regularly visiting this site have endured times of great difficulty. I am 75 years old, and although I have enjoyed a blessed life, I have experienced an older brother killed in war, a younger brother who died of HIV, a marriage that failed, job losses twice, the deaths of my parents and siblings, years of estrangement with one of my children, a major financial loss, and yet, I am still here, successfully retired from three different careers, coming up on a 52nd marriage anniversary, and on Monday of this week, I earned my Doctor of Minstry degree, thereby fulfilling a lifetime goal. The best way I have found to enrich and enjoy your life is in service to others. In times of trouble, when you are focused inwardly, as difficult as it may be to do, at the same time, maybe the answer is to look outward and see what you can do for someone else, worse off than you. And if you are fortunate enough to believe in God, remember that HIS plan and NOT your plan is the right answer.
Comments
Glad to see you made it to the "two-comma club" as well. Welcome, new member, and Congratulations. It really is a simple process. NOT easy, but simple.
Post: Avoid the noise, buy the market and stay invested
Link to comment from April 12, 2026
Not paying fees for unneeded services is a smart decision. Leaving a spouse to fend for herself financially, after your demise...questionable to say the least. My wife, like yours, has zero interest in learning how to handle the investments, insurance, etc. For that reason, I have two advisors. One is a Vanguard. CFP, 33 years old, paid by salary. Vanguard's total fee for his services is 30 basis points a year, or .03%. His value to me is to advise my wife about our Vanguard Portfolio after my death. If he leaves the company, another qualified CFP will take his place, and the service will continue. My portfolio consists of VTI and VXUS, and I advised my wife not to change it after I am gone. The second advisor is actually an insurance professional. His company services our annuity contracts. His staff is in their 30's. He is 55 years old. They are credentialed and qualified to do the job for which I retain them. They charge no annual fees. The only real change that might have to be made in the future would be the result of my wife needing LTC. She is not insured against the need for LTC because she could not qualify for a policy. Should that need occur, the annuities we have will increase their payouts by 505 annually, for up to five years, and then revert to lifetime payments at the standard amounts. She would also have access to RMDs, currently being used for QCDs, and the investment portfolio. We have no debts and no mortgage payment, and even without her social security check, my remaining social security check, which we will receive, will exceed her retirement expenses. I also prepared a detailed letter, listing all accounts, account numbers, access codes, user names, passwords, addresses, phone numbers, etc. so all she has to do is make four phone calls. I suggest you consider something similar.
Post: Financial Planning
Link to comment from April 12, 2026
It just might be. Go for it!
Post: Resist the Urge to Act
Link to comment from April 11, 2026
Mark: I am certain Johnathan would be humble in his appreciation of your remarks. Personally, I think it is one of the most uplifting articles I have read recently. The old saying, "Great Minds think alike," came to mind as I read your comments regarding Johnathan's penchant for simplicity. It reminded me of the teachings of Jack Bogle, the person most responsible for the creation of the Index Fund, and the industry giant, Vanguard Group.. One of Bogle's most famous quotes, regarding the market and it's flucuations was, "Don't do something! Just stand there." As difficult as it is to do sometimes, knowing that I already own a piece of almost every company on earth, makes it easier to resist the desire to execute my master strategy to beat the market, or find the next "big thing." I own two ETFs. VTI and VXUS. They comprise 100% of my portfolio, consisting of Roth IRA's, Traditional IRAs, and Taxable Brokerage Accounts. 80% in Vanguard's Total US Stock Market and 20% in Vanguard's Total International Stock Market. No matter the company, no matter where in the World, if it's public, I own a piece of it. Because of the structure of my retirement income streams, I am fortunate not to have to use my portfolio to produce retirement income. Social Security and annuity income streams provide that. My portfolio is there to grow, provide for later in life income options, and later in life catastrophic care dollars, should my wife need LTC, and finally, to leave a legacy to our children. And from time to time, perhaps a lifestyle opportunity, like travel, but that will be decreasing over the next five years. It's simple, tax-efficient, and low-maintenance. It also avoids AUM fees of 1% and higher by advisors, 92% of whom cannot consistently outperform the S&P 500. I look forward to your next article.
Post: Resist the Urge to Act
Link to comment from April 11, 2026
We have started doing that as well...at Food Lion, Walmart, and Carlie C's...the stores we shop at the most. I really like the notes on the aisle location.
Post: Simplify Everything
Link to comment from April 3, 2026
Doug: We are of like mind. I have instituted many, if not all, of your mentioned simplifications, except for spousal access and mutual digital calendars. While my wife has 100% access to all of our assets and accounts, she is NOT a "techie person," as she calls it, and would be hard-pressed to do anything online, other than buying craft stuff on eBay and getting recipes from the Food Network. Previous attempts to "train her" to use the financial aspects of the computer have been "less than. enthusiastically embraced." Same for the calendar. I keep a digital calendar, but we also have a wall calendar we both share. I add my stuff to her's on the calendar as needed, so we each know when we can schedule things. As far as financial records, I have a document that is both a "hard copy" and digital, with the digital version kept on the desktop of my computer. My wife keeps the "hard copy" in her stand-up jewelry case, and she has the password to open my computer. The document is basically a step-by-step guide instructing her what to do if I don't wake up tomorrow. All banking and financial accounts, passwords, assets, and addresses for accounts, advisors, and our attorney are listed in the document. It is updated monthly and/or when anything major occurs, such as my recently discovered veteran's benefit of $2004 doillars for funeral expenses. I discovered this benefit, which only came into existence in October 2025, when arranging for my father's inurnment later this month. Although he is not eligible for it, because he died in 2018, when I die, my beneficiaries will enjoy that benefit. Admittedly, my document is "old school," but it suits my wife. Our daughter, who is our executrix, also receives a copy of the document when it is updated, without account numbers or passwords.
Post: Simplify Everything
Link to comment from April 3, 2026
100% of our retirement is in "guaranteed money"...Social Security & Annuities. Portfolio is 100% in VTI and VXUS (80/20) since it is not used for income. We can just watch it recover over the next 9-10 months or 1-2 years, whichever course the market decides to take. I am a Bogle disciple. "Stay the Course." Our retirement plans have not changed, so neither has our portfolio.
Post: Any concern?
Link to comment from April 3, 2026
Great article, Mark! My bride of 52 years gave up all sweets for Lent. I have a GIANT Easter basket full of all the "good stuff" hidden in my office closet, including a Roche Easter Bunny for myself nd a LARGE Reese's Peanut Butter Chocolate one for her. Me? I gave up Coffee for Lent. After the first 3-4 days of headaches, it has been manageable. It's not really the coffee that gets to me... It's the Sweetner and the Carnation Hazelnut Cleamer that I crave. Only two and a wake-up!
Post: Lent, Chocolate, and the Art of Retirement
Link to comment from April 3, 2026
I experienced the persistence of a Fisher's Vice President's follow-up after an initial conversation. Because of my background in insurance & investments, as well as college teaching in those areas, I dismissed Fisher's program. Any advisor who advises you not to consider a powerful financial tool (an annuity) is automatically suspect to me. Their Fee Schedule also turned me off, in a major way, since it is borderline greedy. As far as their brochure and its recommendations are concerned, it's actually not a bad brochure. Many of the recommendations make great sense! As far as laundry is concerned...one of the greatest gifts my mom gave me was a young man was how to do my own laundry, how to do minor sewing tasks, and how to iron clothes nicely! Add to that how to do basic cooking, and I was ready to take care of myself. She also taught me how to appreciate a wife...and I have never told my wife how to do our laundry. Ha! She didn't tell me how to give clients financial advice or teach college classes, and I don't tell her how to keep our home!
Post: Ninety Nine, I mean Eight Retirement Tips
Link to comment from March 25, 2026
"It is never wrong to do the right thing," attributed to Mark Twain, seems appropriate here. In every generation, there are problems one is forced to deal with. It has always been the case, and I doubt it will ever change to be otherwise. The difference is only what each generation is forced to live with. Is it really harder today than it was in the 1920s and 30s...the 1940s...? Being empathetic costs you nothing and may actually help someone else. Being charitable is always the right thing to do, whether it is emotionally, spiritually, or fiscally. I would venture to say some, but not all, of those regularly visiting this site have endured times of great difficulty. I am 75 years old, and although I have enjoyed a blessed life, I have experienced an older brother killed in war, a younger brother who died of HIV, a marriage that failed, job losses twice, the deaths of my parents and siblings, years of estrangement with one of my children, a major financial loss, and yet, I am still here, successfully retired from three different careers, coming up on a 52nd marriage anniversary, and on Monday of this week, I earned my Doctor of Minstry degree, thereby fulfilling a lifetime goal. The best way I have found to enrich and enjoy your life is in service to others. In times of trouble, when you are focused inwardly, as difficult as it may be to do, at the same time, maybe the answer is to look outward and see what you can do for someone else, worse off than you. And if you are fortunate enough to believe in God, remember that HIS plan and NOT your plan is the right answer.
Post: My Window is Open – Come In
Link to comment from March 24, 2026