Took the words right out of my keyboard. I keep a spreadsheet for each account and have a consolidated spreadsheet for all of our holdings. In each case, I track my equity/fixed allocation as I have different allocations for different a/c's, but also want to know what my overall allocation is. I find it very helpful to keep me on target and rebalance when things get too far out of line.
Had to laugh at the marriage analogy. If we could somehow remove the influence of hormones from marriage decisions, there might be a lot fewer divorces. Although, to be fair, there might also be a lot fewer marriages!
I have personally used Fidelity for years and am very happy with both their online systems and their service. If all else fails, I also have a local Fidelity office that I can walk into for help. Other family members use Schwab and have voiced similar satisfaction. Using a service like Fidelity, I also have access to Vanguard funds, which I have used for years in my accounts, for both performance and cost reasons. Going this route, rather than trying to do everything through Vanguard might make things much easier.
When I retired, I made the fateful and fortunate decision to opt for Medicare Classic, plus a Medicare supplement policy and Plan D drug coverage. After 10+ years of retirement an several expensive trips to the hospital, I have paid virtually nothing out of pocket, other than my policy premiums. However, for anyone who is about to retire and trying to make a decision as to which plan to opt for, I have only sympathy as both the decision making and sign up process are not simple. And, as the author notes, there are consequences if you later decide you have made the wrong choice and want to change coverage. Getting professional advice (and not from whichever ex-pro football player is touting Medicare Advantage this year) is a good idea. For do it yourselfers, buying a copy of Medicare For Dummies would be a good idea. Whichever route you plan to take, start the education process well in advance of your target retirement date as you will have much to learn in order to make the best choice for your situation.
I also spent 40+ years in the investment business and am still amazed at the difference between giving others advice and the advice I follow in managing my own money. My wife and I have sufficient financial resources, but like you, I sometime ago started raising my cash and fixed levels in anticipation of an expected market correction. There is so much more than mere economic tomfoolery going on at the moment that could make the next downturn worse than past cycles we have lived through, and I am very conscious that the number of years in which to earn back any losses is growing ever shorter. I appreciate what rising cash and fixed income levels will do to overall performance, but at this point in my life, security has taken precedence over performance.
Like everyone who has written before me, I owe many thanks to Jonathan's writings and the many contributors who have helped me stay connected and informed as my own career in the finance industry ended upon retirement. Jonathan was simply too young to now be gone, but as we mostly know and accept, there is seldom a "good" time to depart. To his family: I grieve for your loss and thank you for sharing him with us for along as we had him.
I spent my career in the wealth management business, trying to get clients to develop and stick to a budget plan - with varying success! In retirement, I like you, do not work from a budget. However, I track closely how our investments perform and what our sources and amounts of income are. I've been retired 13 years and am comfortable with my approach. However, everyone's pain points are different and careful budgeting for some may be what helps them sleep.
I suppose the answer to this problem in part depends on how much you have to invest. Like you, I have been raising some cash over the last year as my confidence in the economy wanes. At age 77, I am reasonably certain that my wife and I have enough to last us the rest of our lives - absent some major economic or other catastrophe. I remain mindful, however, that one of us could live another 10-15 years and need extensive care at some point. I have also factored in that our son will likely receive a considerable amount from our unused IRA balances that he will be able to withdraw over a 10 year period. Given this time horizon, equities will need to remain an important part of our asset allocation in order to combat the effects of inflation.
I am curious that you didn't mention high yield bonds. Yes, they are positively correlated to equities, but if you are willing to buy them when they are cyclically cheap and sell when they begin to look a bit pricey, you can generate some capital gains, with a healthy current income stream.
I grew up in a family that had lived through the Depression and WWII, and the efforts they made to scrimp and get by were passed down. My wife and I have been determined savers our whole lives and are secure in our retirement. Our biggest problem is spending what we have while we are living and what to do with the rest when we are gone. Our savings efforts were successful in part because of determination, but more importantly because we also had the means to save. For too many families, good savings habits won't necessarily help much if the amount of their income is insufficient. This is in part an income and spending problem, but it is exacerbated by the lack employer retirement savings plans, especially in small businesses, that would help more people better prepare for their retirement years.
Comments
Took the words right out of my keyboard. I keep a spreadsheet for each account and have a consolidated spreadsheet for all of our holdings. In each case, I track my equity/fixed allocation as I have different allocations for different a/c's, but also want to know what my overall allocation is. I find it very helpful to keep me on target and rebalance when things get too far out of line.
Post: How do Couples Rebalance with Multiple Accounts
Link to comment from November 1, 2025
Had to laugh at the marriage analogy. If we could somehow remove the influence of hormones from marriage decisions, there might be a lot fewer divorces. Although, to be fair, there might also be a lot fewer marriages!
Post: Financial Education in Middle and High School
Link to comment from October 25, 2025
I have personally used Fidelity for years and am very happy with both their online systems and their service. If all else fails, I also have a local Fidelity office that I can walk into for help. Other family members use Schwab and have voiced similar satisfaction. Using a service like Fidelity, I also have access to Vanguard funds, which I have used for years in my accounts, for both performance and cost reasons. Going this route, rather than trying to do everything through Vanguard might make things much easier.
Post: Disappointed (and annoyed) with Vanguard.
Link to comment from October 25, 2025
When I retired, I made the fateful and fortunate decision to opt for Medicare Classic, plus a Medicare supplement policy and Plan D drug coverage. After 10+ years of retirement an several expensive trips to the hospital, I have paid virtually nothing out of pocket, other than my policy premiums. However, for anyone who is about to retire and trying to make a decision as to which plan to opt for, I have only sympathy as both the decision making and sign up process are not simple. And, as the author notes, there are consequences if you later decide you have made the wrong choice and want to change coverage. Getting professional advice (and not from whichever ex-pro football player is touting Medicare Advantage this year) is a good idea. For do it yourselfers, buying a copy of Medicare For Dummies would be a good idea. Whichever route you plan to take, start the education process well in advance of your target retirement date as you will have much to learn in order to make the best choice for your situation.
Post: Don’t make the wrong Medicare decision
Link to comment from October 25, 2025
I also spent 40+ years in the investment business and am still amazed at the difference between giving others advice and the advice I follow in managing my own money. My wife and I have sufficient financial resources, but like you, I sometime ago started raising my cash and fixed levels in anticipation of an expected market correction. There is so much more than mere economic tomfoolery going on at the moment that could make the next downturn worse than past cycles we have lived through, and I am very conscious that the number of years in which to earn back any losses is growing ever shorter. I appreciate what rising cash and fixed income levels will do to overall performance, but at this point in my life, security has taken precedence over performance.
Post: Is The Stock Market Overvalued?
Link to comment from October 19, 2025
Like everyone who has written before me, I owe many thanks to Jonathan's writings and the many contributors who have helped me stay connected and informed as my own career in the finance industry ended upon retirement. Jonathan was simply too young to now be gone, but as we mostly know and accept, there is seldom a "good" time to depart. To his family: I grieve for your loss and thank you for sharing him with us for along as we had him.
Post: Farewell Friends
Link to comment from September 24, 2025
I spent my career in the wealth management business, trying to get clients to develop and stick to a budget plan - with varying success! In retirement, I like you, do not work from a budget. However, I track closely how our investments perform and what our sources and amounts of income are. I've been retired 13 years and am comfortable with my approach. However, everyone's pain points are different and careful budgeting for some may be what helps them sleep.
Post: Budget, What Budget? (Know Thyself)
Link to comment from September 20, 2025
I suppose the answer to this problem in part depends on how much you have to invest. Like you, I have been raising some cash over the last year as my confidence in the economy wanes. At age 77, I am reasonably certain that my wife and I have enough to last us the rest of our lives - absent some major economic or other catastrophe. I remain mindful, however, that one of us could live another 10-15 years and need extensive care at some point. I have also factored in that our son will likely receive a considerable amount from our unused IRA balances that he will be able to withdraw over a 10 year period. Given this time horizon, equities will need to remain an important part of our asset allocation in order to combat the effects of inflation.
Post: Not Staying the Course
Link to comment from September 20, 2025
I am curious that you didn't mention high yield bonds. Yes, they are positively correlated to equities, but if you are willing to buy them when they are cyclically cheap and sell when they begin to look a bit pricey, you can generate some capital gains, with a healthy current income stream.
Post: Best Bond Funds for Your Portfolio: Treasurys, Corporates, and Municipals Explained
Link to comment from September 20, 2025
I grew up in a family that had lived through the Depression and WWII, and the efforts they made to scrimp and get by were passed down. My wife and I have been determined savers our whole lives and are secure in our retirement. Our biggest problem is spending what we have while we are living and what to do with the rest when we are gone. Our savings efforts were successful in part because of determination, but more importantly because we also had the means to save. For too many families, good savings habits won't necessarily help much if the amount of their income is insufficient. This is in part an income and spending problem, but it is exacerbated by the lack employer retirement savings plans, especially in small businesses, that would help more people better prepare for their retirement years.
Post: Being poor, even low income in retirement is no fun and society makes it more difficult
Link to comment from September 13, 2025