I cannot improve on Adam's wonderful "book report," but I would like to add that I finished it as an audiobook while traveling to and from the NC Senior Tarheel Legislature Spring meeting this week, and I enjoyed it immensely. As Jason Zweig says in the Foreword, this book will become a classic for many reasons. In my opinion, it will touch the hearts of readers from different backgrounds, for different reasons. It is also a book that you will read more than once, and I believe it will be just as meaningful the second time.
Years ago, I was an agency owner of a Major Brand Insurance Carrier in Texas. One of my clients, an older woman, was involved in an auto accident, and the other party was at fault. The other carrier wasn't handling the claim fairly or expeditiously, and the woman's daughter, who flew to TX to make sure her parents were OK, came into the office and told me what they were experiencing. As it turned out, my client's daughter was the executive secretary for Mr. Cathy. Once USAA was apprised of this situation, their attitude miraculously "adjusted" and the claim was settled "expeditiously." I happened to have ridden my motorcycle to work on the day my client's daughter visited our office, and I mentioned that I had recently seen a picture of Mr. Cathy in a magazine, with him on his Harley-Davidson. Imagine my surprise and the pleasure I felt when I received a FedEx envelope a week or so later containing an autographed photo of Mr. Truitt Cathy on his Harley, and a letter thanking me for assisting his secretary's mother. And in the spirit of the Jersey Mike's sandwiches discussed earlier...I do love the Chick-fil-A Number 1, with unsweetened tea!
Setting aside this specific lady, Sherry, and agreeing to applaud her friend for helping her recognize a potential pitfall...be sure not to dismiss "The window to make advantaged Roth IRA conversions closes in 2028” comment. I do not need additional Roth Conversions for myself, but I will do them in 2026, 2027, and 2028 to withdraw an additional $105,000 from my Traditional IRA into my Roth IRA. This will not be for my benefit, but for my children's benefit, as they will be inheriting the IRA. I will benefit as well, with lower RMDs, but since I use my as QCDs, that is not a motivation for me. Remember, just because questionable sales techniques are inappropriate for some, the opportunity they might present for misrepresentation could actually have appropriate uses for others...like in this case, for me. But I don't do steak dinners...I cook my own on my Trek 2.0 Pellet Grill, which my daughter and son-in-law got me for Christmas!
luvtoride, Bless you for your well wishes! Vertigo is certainly a symptom, but not a cause, from what the doctors tell me! I live in a very large military town in NC. Getting appointments is always a challenge. Apparently, I am much more concerned than they are. I even called up to Raleigh. Not much better. I sold my Ultraglide Trike in 2023. What do you live to ride? Re: JC’s last book…simply amazing, heart warming, and heart rending! Best wishes to Elaine, Hanna, and Henry!
Rick: I began the AARP Tax Assistance training this year, but unfortunately, I was unable to serve because I fell ill during the training classes. I am looking forward to doing it next tax season. In the meantime, I am looking into becoming a SHIP volunteer. If seniors need assistance with something as important as taxes, understanding Social Security, and Medicare/Medicaid, is a strong number 2!
Javier: Question 1. Have I personally benefited from access to financial planning, and if so, how? Yes, but not in a manner you might expect. In 1986, after earning my MBA a year earlier, I realized that I was more educated than most Americans, yet, although I had been in finance since age 20, I was not significantly better off financially. This prompted me to explore why this was the case and led me to discover the CFP education program. I enrolled in 1986 and earned my CFP in 1991. Because of that education, I took financial matters seriously, began maxing out my 401 (k) (and later 403 (b), and, when Roth accounts became available, funded them annually. In 1998, I left corporate America and started my second career in self-employment when I opened an insurance and financial services agency. The experience gained in this career was to become invaluable when I entered my third career. In 2009, I sold my agency and entered my third career, academia. I was a college professor from 2009 to 2024, teaching thousands of students the CFP, CLU, ChFC, and finally the RICP curricula as a faculty member at The American College for Financial Services. Today, I am retired, and I have a Personal Financial Services advisor at Vanguard. I have had a PFS advisor since moving my money to Vanguard in 2013. My students used to ask me all the time, "Dr. Lynch, you have more degrees than a thermometer. You are writing texts on these subjects. Why do you need a financial advisor?" The answer was simple. Knowing how to manage money and managing money are not the same thing, just as knowing how to lose weight and losing weight are not the same thing. I have an advisor because when managing my own money, I have an emotional attachment to my decisions. My Vanguard advisor, a licensed CFP, doesn't. When we discuss an issue, his answers are totally unbiased, because he is a salaried employee. His recommendations are based on his knowledge of my finances and what makes sense not only for me but also for my wife after I am gone. He is 35. I am 75. He will be here long after I am gone, hopefully. And even if he leaves Vanguard, I will get another PFS just as qualified, because I know who Vanguard hires. Another advantage is age-related. Just as I have wills, trusts, and an estate plan "just in case," I have an advisor to help my wife with her finances after I am gone. A recent health scare made that need even more important to me, because over our 52-year marriage, my bride has steadfastly resisted any attempt to learn about money management. My PFS advisor knows what I want and what I would do if I were here, and I trust him to follow through and help my wife manage what will then be her money. Having an advisor is also a guard against your own possibly unrecognized deterioration in mental acuity. Question 2. Why aren't financial planners reaching those who need it the most? This question isn't really hard to answer. Money. Compensation. 'A good use of my time." The vast majority of financial advisors are not, in fact, advisors. They are products or services, salespersons. They are paid by commissions or by Assets Under Management. Regardless of their levels of personal integrity, their standards of living are predicated on getting you to give them your money to "manage" or to buy their products, whether those products are what you really need or not. Financial Advisors are not compensated for educating you. Period. So the majority of them don't. There are a few exceptions, usually found in the arena of "flat fee advisors." These advisors truly are advisors, as they neither sell products nor manage money. As you would suspect, they are in the minority of planners existing today, but they are out there. There is also another group of advisors, and they are even fewer in number. These are advisors who work with people on a pro bono basis because, like me, they are retired, financially secure, and are engaged in the business of serving others as a form of ministry. Their purpose is to help people learn to handle their finances from a biblical perspective. One example is Dave Ramsey's Financial Peace University. Another is Catholic Compass: Faith and Money Matters. These programs are offered primarily through church groups, but can be offered as community service opportunities as well. After 54 years in financial services, I retired at age 74 and 3 months. After a year of travel and doing whatever we pleased, I decided in 2025 that I had too much left to give, so I matriculated into a seminary and began a Doctor of Ministry degree program. I graduated in March 2026. My dissertation was based on the idea that marriages could be saved and divorces reduced by educating engaged couples in financial matters from a biblical perspective. Subsequently, I became a licensed Chaplain and completed the PREPARE/ENRICH premarriage program. I am now involved in Christian marriage preparation and in civic affairs, serving on two county commission boards that serve seniors. I am also active in a local VFW Post, serving fellow veterans in an elected leadership position. Your CFP studies can be used to help yourself manage your own finances or to help others learn to manage theirs. The only difference is your Focus. Good Luck to you in your retirement and continued success with your finances.
Dennis: Like you, I am 75, and I recently experienced a health scare, severe dizziness, from a source as of yet unknown. I am doing rehab, but unfortunately, I am not seeing any improvement. I am simply grateful that it has moderated to a degree, so I can still walk and drive. Like Rachel, my wife is keeping an eye on me when we are out, and like you, I am using Amazon Prime and Walmart home delivery on some days. Because my parents lived long lives, my mom until 81 and my stepdad until 93, we have a care plan designed. Our retirement home was built specifically to allow aging in place... no steps, no carpet, wider doors and hallways, walk-in shower, jacuzzi bath tub, etc. It has a section with a full bath and two bedrooms that can be used for a live-in health care person, which can be closed off with a pocket door. It was originally designed for my stepfather, so he could live with us in his final years, instead of in assisted living, but he passed before it was finished. Like you, I planned financially for us to remain independent throughout our lives. May God bless you and Rachel, and may you recover your health. in short order. In God's Name, Amen.
D.J., Yes...most likely...as I authored and edited textbooks on them. Annuities have been around since the days of the Romans. It is only in the past 75-80 years that intermediaries have managed to sully their name and reputation Like life insurance, they are truly unique in their purpose, so much so that they have no substitutes.
Audiobook and Kindle ordered this morning! In a much less medically severe manner, not only do Jonathan's books speak to me, but after a health scare two weeks ago, so did his final 12-18 months here on earth. As regulars to HD know, he wrote a number of articles about his final months and the plans he made for his family. Two weeks ago, I woke up on a Friday morning, and when I went to get out of bed, my body felt as though I had been severely drunk. I could barely walk straight and had to use the wall to get to the bathroom. Since I literally can remember the last time I had an alcoholic beverage (it was on a New Year's Eve, but the year is unknown...) I knew something was wrong. I spent 15 hours sitting in an ER, getting tests, and waiting for a room and bed. 18 hours in, I was in a room, but then for another 2 days, additional tests and blood work. After 4 days, an MRI, CT Scan, Electrocardiogram...all clear...I was discharged. The cause is still unknown, but I am undergoing rehab (which is not showing any evidence of lessening my symptoms of dizziness) and awaiting an ENT specialist appointment on July 16th. Why do I tell you this? Certainly not for pity, rather to tell you that you never know what tomorrow brings. DO NOT PUT OFF THE TRIP YOU PLANNED.
DO NOT DELAY VISITING THE PEOPLE YOU LOVE.
DO NOT "WAIT UNTIL LATER" OR FOR WHEN THE "TIME IS RIGHT." Unlike Jonathan, I did not receive a prognosis of terminal illness. I am, however, no longer able to take things for granted. I walk unsteadily. I am not driving as much. I have given up roller skating, which I have loved to do all my life. I am dizzy, to some degree, as long as I am awake and when standing. It isn't "ruining my life," but it has lessened some of my joy. While I was in the hospital, I was honestly not as concerned about myself as I was about my wife of 52 years. I am 75 years old. I have had a good life. I was more concerned about how she would get along without me. Financially, she would be fine from an income and asset standpoint, but not from a financial literacy and money management standpoint. The scare finally made her agree to sit down, pay attention to our finances, and allow me to explain our retirement and estate plans to her. Take this message for what it's worth, fellow HD'ers. As we read in James 4:14, "You do not know what tomorrow will bring. What is your life? For you are a mist that appears for a little time and then vanishes.”
Comments
I cannot improve on Adam's wonderful "book report," but I would like to add that I finished it as an audiobook while traveling to and from the NC Senior Tarheel Legislature Spring meeting this week, and I enjoyed it immensely. As Jason Zweig says in the Foreword, this book will become a classic for many reasons. In my opinion, it will touch the hearts of readers from different backgrounds, for different reasons. It is also a book that you will read more than once, and I believe it will be just as meaningful the second time.
Post: Money and Me
Link to comment from June 7, 2026
Years ago, I was an agency owner of a Major Brand Insurance Carrier in Texas. One of my clients, an older woman, was involved in an auto accident, and the other party was at fault. The other carrier wasn't handling the claim fairly or expeditiously, and the woman's daughter, who flew to TX to make sure her parents were OK, came into the office and told me what they were experiencing. As it turned out, my client's daughter was the executive secretary for Mr. Cathy. Once USAA was apprised of this situation, their attitude miraculously "adjusted" and the claim was settled "expeditiously." I happened to have ridden my motorcycle to work on the day my client's daughter visited our office, and I mentioned that I had recently seen a picture of Mr. Cathy in a magazine, with him on his Harley-Davidson. Imagine my surprise and the pleasure I felt when I received a FedEx envelope a week or so later containing an autographed photo of Mr. Truitt Cathy on his Harley, and a letter thanking me for assisting his secretary's mother. And in the spirit of the Jersey Mike's sandwiches discussed earlier...I do love the Chick-fil-A Number 1, with unsweetened tea!
Post: Peter Cancro from age 14 to 69 covered in oil and vinegar
Link to comment from June 7, 2026
"Number 17, with extra meat, peppers, and onions!" That's the Philly Cheese Steak at Jersey Mike's. Great story and great food.
Post: Peter Cancro from age 14 to 69 covered in oil and vinegar
Link to comment from June 7, 2026
Setting aside this specific lady, Sherry, and agreeing to applaud her friend for helping her recognize a potential pitfall...be sure not to dismiss "The window to make advantaged Roth IRA conversions closes in 2028” comment. I do not need additional Roth Conversions for myself, but I will do them in 2026, 2027, and 2028 to withdraw an additional $105,000 from my Traditional IRA into my Roth IRA. This will not be for my benefit, but for my children's benefit, as they will be inheriting the IRA. I will benefit as well, with lower RMDs, but since I use my as QCDs, that is not a motivation for me. Remember, just because questionable sales techniques are inappropriate for some, the opportunity they might present for misrepresentation could actually have appropriate uses for others...like in this case, for me. But I don't do steak dinners...I cook my own on my Trek 2.0 Pellet Grill, which my daughter and son-in-law got me for Christmas!
Post: Setting the Hook, Reeling In the Fish
Link to comment from June 7, 2026
luvtoride, Bless you for your well wishes! Vertigo is certainly a symptom, but not a cause, from what the doctors tell me! I live in a very large military town in NC. Getting appointments is always a challenge. Apparently, I am much more concerned than they are. I even called up to Raleigh. Not much better. I sold my Ultraglide Trike in 2023. What do you live to ride? Re: JC’s last book…simply amazing, heart warming, and heart rending! Best wishes to Elaine, Hanna, and Henry!
Post: Money and Me
Link to comment from June 4, 2026
Rick: I began the AARP Tax Assistance training this year, but unfortunately, I was unable to serve because I fell ill during the training classes. I am looking forward to doing it next tax season. In the meantime, I am looking into becoming a SHIP volunteer. If seniors need assistance with something as important as taxes, understanding Social Security, and Medicare/Medicaid, is a strong number 2!
Post: The Quiet Failure of Good Advice
Link to comment from May 31, 2026
Javier: Question 1. Have I personally benefited from access to financial planning, and if so, how? Yes, but not in a manner you might expect. In 1986, after earning my MBA a year earlier, I realized that I was more educated than most Americans, yet, although I had been in finance since age 20, I was not significantly better off financially. This prompted me to explore why this was the case and led me to discover the CFP education program. I enrolled in 1986 and earned my CFP in 1991. Because of that education, I took financial matters seriously, began maxing out my 401 (k) (and later 403 (b), and, when Roth accounts became available, funded them annually. In 1998, I left corporate America and started my second career in self-employment when I opened an insurance and financial services agency. The experience gained in this career was to become invaluable when I entered my third career. In 2009, I sold my agency and entered my third career, academia. I was a college professor from 2009 to 2024, teaching thousands of students the CFP, CLU, ChFC, and finally the RICP curricula as a faculty member at The American College for Financial Services. Today, I am retired, and I have a Personal Financial Services advisor at Vanguard. I have had a PFS advisor since moving my money to Vanguard in 2013. My students used to ask me all the time, "Dr. Lynch, you have more degrees than a thermometer. You are writing texts on these subjects. Why do you need a financial advisor?" The answer was simple. Knowing how to manage money and managing money are not the same thing, just as knowing how to lose weight and losing weight are not the same thing. I have an advisor because when managing my own money, I have an emotional attachment to my decisions. My Vanguard advisor, a licensed CFP, doesn't. When we discuss an issue, his answers are totally unbiased, because he is a salaried employee. His recommendations are based on his knowledge of my finances and what makes sense not only for me but also for my wife after I am gone. He is 35. I am 75. He will be here long after I am gone, hopefully. And even if he leaves Vanguard, I will get another PFS just as qualified, because I know who Vanguard hires. Another advantage is age-related. Just as I have wills, trusts, and an estate plan "just in case," I have an advisor to help my wife with her finances after I am gone. A recent health scare made that need even more important to me, because over our 52-year marriage, my bride has steadfastly resisted any attempt to learn about money management. My PFS advisor knows what I want and what I would do if I were here, and I trust him to follow through and help my wife manage what will then be her money. Having an advisor is also a guard against your own possibly unrecognized deterioration in mental acuity. Question 2. Why aren't financial planners reaching those who need it the most? This question isn't really hard to answer. Money. Compensation. 'A good use of my time." The vast majority of financial advisors are not, in fact, advisors. They are products or services, salespersons. They are paid by commissions or by Assets Under Management. Regardless of their levels of personal integrity, their standards of living are predicated on getting you to give them your money to "manage" or to buy their products, whether those products are what you really need or not. Financial Advisors are not compensated for educating you. Period. So the majority of them don't. There are a few exceptions, usually found in the arena of "flat fee advisors." These advisors truly are advisors, as they neither sell products nor manage money. As you would suspect, they are in the minority of planners existing today, but they are out there. There is also another group of advisors, and they are even fewer in number. These are advisors who work with people on a pro bono basis because, like me, they are retired, financially secure, and are engaged in the business of serving others as a form of ministry. Their purpose is to help people learn to handle their finances from a biblical perspective. One example is Dave Ramsey's Financial Peace University. Another is Catholic Compass: Faith and Money Matters. These programs are offered primarily through church groups, but can be offered as community service opportunities as well. After 54 years in financial services, I retired at age 74 and 3 months. After a year of travel and doing whatever we pleased, I decided in 2025 that I had too much left to give, so I matriculated into a seminary and began a Doctor of Ministry degree program. I graduated in March 2026. My dissertation was based on the idea that marriages could be saved and divorces reduced by educating engaged couples in financial matters from a biblical perspective. Subsequently, I became a licensed Chaplain and completed the PREPARE/ENRICH premarriage program. I am now involved in Christian marriage preparation and in civic affairs, serving on two county commission boards that serve seniors. I am also active in a local VFW Post, serving fellow veterans in an elected leadership position. Your CFP studies can be used to help yourself manage your own finances or to help others learn to manage theirs. The only difference is your Focus. Good Luck to you in your retirement and continued success with your finances.
Post: The Quiet Failure of Good Advice
Link to comment from May 31, 2026
Dennis: Like you, I am 75, and I recently experienced a health scare, severe dizziness, from a source as of yet unknown. I am doing rehab, but unfortunately, I am not seeing any improvement. I am simply grateful that it has moderated to a degree, so I can still walk and drive. Like Rachel, my wife is keeping an eye on me when we are out, and like you, I am using Amazon Prime and Walmart home delivery on some days. Because my parents lived long lives, my mom until 81 and my stepdad until 93, we have a care plan designed. Our retirement home was built specifically to allow aging in place... no steps, no carpet, wider doors and hallways, walk-in shower, jacuzzi bath tub, etc. It has a section with a full bath and two bedrooms that can be used for a live-in health care person, which can be closed off with a pocket door. It was originally designed for my stepfather, so he could live with us in his final years, instead of in assisted living, but he passed before it was finished. Like you, I planned financially for us to remain independent throughout our lives. May God bless you and Rachel, and may you recover your health. in short order. In God's Name, Amen.
Post: The Humbling Side of Aging
Link to comment from May 31, 2026
D.J., Yes...most likely...as I authored and edited textbooks on them. Annuities have been around since the days of the Romans. It is only in the past 75-80 years that intermediaries have managed to sully their name and reputation Like life insurance, they are truly unique in their purpose, so much so that they have no substitutes.
Post: Farrell Behavior
Link to comment from May 31, 2026
Audiobook and Kindle ordered this morning! In a much less medically severe manner, not only do Jonathan's books speak to me, but after a health scare two weeks ago, so did his final 12-18 months here on earth. As regulars to HD know, he wrote a number of articles about his final months and the plans he made for his family. Two weeks ago, I woke up on a Friday morning, and when I went to get out of bed, my body felt as though I had been severely drunk. I could barely walk straight and had to use the wall to get to the bathroom. Since I literally can remember the last time I had an alcoholic beverage (it was on a New Year's Eve, but the year is unknown...) I knew something was wrong. I spent 15 hours sitting in an ER, getting tests, and waiting for a room and bed. 18 hours in, I was in a room, but then for another 2 days, additional tests and blood work. After 4 days, an MRI, CT Scan, Electrocardiogram...all clear...I was discharged. The cause is still unknown, but I am undergoing rehab (which is not showing any evidence of lessening my symptoms of dizziness) and awaiting an ENT specialist appointment on July 16th. Why do I tell you this? Certainly not for pity, rather to tell you that you never know what tomorrow brings. DO NOT PUT OFF THE TRIP YOU PLANNED. DO NOT DELAY VISITING THE PEOPLE YOU LOVE. DO NOT "WAIT UNTIL LATER" OR FOR WHEN THE "TIME IS RIGHT." Unlike Jonathan, I did not receive a prognosis of terminal illness. I am, however, no longer able to take things for granted. I walk unsteadily. I am not driving as much. I have given up roller skating, which I have loved to do all my life. I am dizzy, to some degree, as long as I am awake and when standing. It isn't "ruining my life," but it has lessened some of my joy. While I was in the hospital, I was honestly not as concerned about myself as I was about my wife of 52 years. I am 75 years old. I have had a good life. I was more concerned about how she would get along without me. Financially, she would be fine from an income and asset standpoint, but not from a financial literacy and money management standpoint. The scare finally made her agree to sit down, pay attention to our finances, and allow me to explain our retirement and estate plans to her. Take this message for what it's worth, fellow HD'ers. As we read in James 4:14, "You do not know what tomorrow will bring. What is your life? For you are a mist that appears for a little time and then vanishes.”
Post: Money and Me
Link to comment from May 31, 2026