David Lancaster

Comments

• Great to read another of your excellent articles Dennis. My only complaint is too few! As to, “The fund performed poorly—especially compared to the stable value fund the money had been in.” I put a significant amount of inherited cash into a Vanguard intermediate bond fund in 2020 as I knew the money was not going to be tapped for nearly a decade. At first I looked like a genius (earning 13K) until the bond market worst drop in US history. I sold at a capital loss of 21K two years ago and bought a short term bond fund as the remaining balance was about 5 years from funding a large percentage of our new deck project. I said to my wife that we will get it back 3K a year as a capital loss telling her two other things:1) don't plan my demise for 7 years as otherwise she won’t get it back, and 2) there was no way I could predict the future.

  Post: Value of Waiting

  Link to comment from February 8, 2026

• We have Vanguard Total World in our Roths, but in our traditional have Vanguard Total (US) Stock (VTI) and several bond funds as well as cash. Years ago I read a Christine Benz article in Morningstar’s that recommended this distribution in retirement accounts as the Roths may never be touched while the traditional is being used for living expenses. When I need to raise cash I take it from the “winners” thus also rebalancing at the same time. When your source of cash is either a target fund or a world fund you can’t separate the winners from the losers, but each as a percentage of the whole fund.

  Post: Value of Waiting

  Link to comment from February 8, 2026

• In 2022 I took a bath with my highly rated Vanguard intermediate term bond. For now on it’s short term bonds for my bond exposure.

  Post: High Interest Savings Accounts vs Bond funds

  Link to comment from February 8, 2026

• Glad I could help

  Post: The High Cost of Financial Advice: A Tale of Two Portfolios Revisited

  Link to comment from February 7, 2026

• For those interested this is the original post Mark mentions: https://humbledollar.com/forum/the-high-cost-of-financial-advice-a-tale-of-two-portfolios/ Several comments asked for an update on my campaign to win her over to a lower-cost approach that would benefit our combined future wealth. It was me that asked. Today Mark posted:  In return, the advisor has committed to providing financial planning that incorporates both of our portfolios into coordinated tax optimization and estate planning strategies. For anyone that is interested here was my back and forth with Mark: Question Mark: Do you and your wife’s advisor also look at your combined portfolios from a total allocation standpoint? No. Although he’s aware of my portfolio’s overall size and that it’s somewhat more aggressive than Suzie’s, I haven’t disclosed its specific details, and he hasn’t inquired Seems like not knowing your allocation and reconciling the difference he can’t really give your wife good advice. David; Thanks for your excellent points. Reflecting on them overnight, I think it wouldn’t hurt if I engage more fully with the advisor for possibly more holistic and comprehensive advice whilst Suzie is still a client. I appreciate the perspective. You’re more than welcome. I’d be interested in your perspective on how the potential meeting went. I shall post on the outcome. Although it’ll be a couple of months when we head back down home. Mark: I’m glad my recommendation has resulted in a significant decrease in your costs. As readers know Jack Bogle is my investing Idol, and I live by one of Jack’s sayings that, “you get what you don’t pay for.” (I practice what I preach-my expense ratio is .04%) Several years ago when I was between jobs I considered studying to be a CFA. I did not follow through as I felt that no one would pay me an hourly rate for first determining their goals, and then just investing in broad index funds, with periodic follow-ups. Little did I know that would be the direction the financial services industry would head years later. But at least I helped one person.

  Post: The High Cost of Financial Advice: A Tale of Two Portfolios Revisited

  Link to comment from February 6, 2026

• My beef is the plans can drop a medicine AFTER you have essentially signed a contract with them. Congress could easily ban this by writing this into the law, but the insurance companies’ bribes, er campaign contributions, is preventive medicine (pun intended) from this coming to reality.

  Post: When $2100 is not what it appears. The Medicare Part D trap

  Link to comment from February 6, 2026

• “We’re putting it off, we are planning to … when I turn 70.” I think I know one person who you are referencing. Please know that even though I mentioned a few things we have put off until that age we have been blessed with much travel. Since 2017 we have spent two weeks in Italy, Maui and Kauai, and Greece. This weekend we are taking our first winter vacation ever to Barbados, and have already booked a two week vacation to London and Scotland this fall. This bedsides several trips to visit our daughter in Orange County California, and several other trips throughout the US and here in New England (including several trips to the Cape). Since retirement we do not take vacations during the summer months (which here in NH are only July and August), those are for gardening, exploring the mountains here in NH, and our weekly visits to the ocean which is only 1/2 hour away. So even though projects like tearing down the deck and replacing with a three season porch won’t occur until we’re 70 we are living a blessed retirement. If we were no longer able to travel I would be sad but we’ve been able to see so much more of this world than many, thus again I would be sad, but still satisfied. PS: I previously wrote about waiting until 70 to fly first class, and I still can’t bring myself to pay that tab, however I was thinking of not going to Barbados as I couldn’t find good value hotels, but finally I bit the bullet and spent about double what we normally pay.

  Post: Carpe diem – especially in retirement

  Link to comment from February 4, 2026

• OMG Chris. The hits seem to be just continuing for you and your wife. I hope you do get some time away. I was in charge of caring for my twin brother for a 5 years before he died from dementia at 59, then over the next 18 months both my parents died. A few years later it was taking my mother in law into our home for the last year of her life. All this taught us that we needed some time away for my spouse and I, if only for an overnight to go to a concert, or a few days away but only a few hours from home. These breaks are very important, so hopefully you have some family to provide some respite.

  Post: Carpe diem – especially in retirement

  Link to comment from February 4, 2026

• Like usual an excellent post Mark. There are many treatments for degenerative dic disease. I home you find both an excellent Physical Therapist and physician to guide your wife’s treatment. The right combination of interventions should lead to a complete resolution of her symptoms.

  Post: The Right Time to Retire Isn’t Always the Optimal Time

  Link to comment from February 4, 2026

• Exactly my thoughts Dunn. I have had only one significant issue with Vanguard’s customer service in thirty plus years. I had a huge issue with TRowe this past year when I called for a withdrawl from an inherited IRA (because it was an inherited account they would not allow me to perform withdrawls from their website 🤷‍♂️) to pay bills. First they issued the check with my name and my parents estate name which my bank would not accept. This occurred after years of checks being issued with just my name on the check. I called customer service who said we had to reopen the estate (which had been closed for years). Then after arguing with them over the absurdity of their position they agreed to reissue the check refusing to overnight it at their cost (they said they couldn’t, I argued they could, but they wouldn’t). I waited a week for the check to arrive, and when it didn’t I called and spoke with a supervisor that told me the CSR had not issued the check that Friday then went on vacation. They then proceeded to overnight the check which previously they said they couldn’t do with just my name on it. Three weeks for a process which typically took a week. Since I knew this account would be emptied this year on 1/2 I called and emptied the account. My point in writing about this is to show that all mutual fund companies have their issues.

  Post: Vanguard Funds Fee Cut

  Link to comment from February 4, 2026