William Dorner

Comments:

• Nuke Ken, keep the articles coming, they are very important to our community. A couple of additions, various deals for Seniors at Fast Food Restaurants. Fishing license in MO free for life after 65, and also for anyone under 15. Always learn a lot from these Your Two Cents.

  Post: Read This for FREE!

  Link to comment from September 14, 2024

• Please make the trip if you can Jonathan. It is hard to choose a favorite, but Lake Louise in Canada was so spectacular when my parents took me as a child, I just had to take my wife, LOUISE! It is so beautiful and peaceful, and glaciers nearby. Lake Louise is a hamlet in Banff National Park in the Canadian Rockies, known for its turquoise, glacier-fed lake ringed by high peaks and overlooked by a stately chateau. Hiking trails wind up to the Lake Agnes Tea House for bird's-eye views. There's a canoe dock in summer, and a skating rink on the frozen lake in winter. The Lake Louise Ski Resort features a wildlife interpretive center at the top of a gondola. For us it is one of the most beautiful and peaceful places on earth, we choose to visit in summer and loved every minute. I hope you all get to visit one day, to this spectacular location.

  Post: First Place by Jonathan Clements

  Link to comment from September 7, 2024

• We took a different approach with our trust. All the funds go to our children equally, 1/3 each. Then we directed our children outside the trust on how to give a certain amount to our Grand Children. This works as each child has two children. We were never worried about age, as expected our children will make good judgments. This of course minimized fees. Some good news at this time 3 grads from college, 2 in college, and one a Senior in High School. As many have said they grow up really FAST! Best to all.

  Post: Connor asks – How young is too young to receive an inheritance?

  Link to comment from August 31, 2024

• I am an Engineer, and I calculate in $'s the benefit and risk of anything to do with insurance and the like. I made the decision at 22 yrs old to never buy any extended warranties. If you live a reasonable life to 60 to 70 to 80 yrs old and beyond, for sure you will come out ahead. That one or two items that give you headaches and have to repurchase, will easily be paid by all the many dollars you saved over the years. At age 50 in the 1990's, the LTC insurance question was the talk of the day. Again I made my calculations and I had a wife that wanted LTC, but I could not make the numbers work for us. Raising a family and with college expenses and the like, the added expense was too much. I am now 78 and hoping to live past 90. My reason to not obtain LTC was I could be self insured over my our lifetime. I just did not want to pay all that money to insurance companies, so instead I invested that amount. If you recall even insurance companies did not know how to handle LTC, there were many issues. Remember more than 85% would only need LTC 1 to 2 years. So we made the decision and invested the money and if unused by age 90, we will have well over one to two million dollars in that IRA account. Yes, I am very fortunate even with cancer to not need any LTC. I fully understand LTC worked out well for that 10% to 15% and of course very thankful for our good health. Everyone has to make the decision to work for them. I am just not a big fan of Insurance companies, as think about it, every large city you go to, some of the tallest buildings downtown, like in Chicago, the Hancock Center are Insurance company buildings. They take as little risk as possible and we all pay for it! LTC is a very personal decision.

  Post: Long Term Care? Who has it?

  Link to comment from August 17, 2024

• Hi Steve. Been investing for 56 years. I had all kinds of combinations over the years with the thought of 60% stocks and 40% bonds over the years. I now align with Buffett who suggests 90% in the S&P 500, and 10% in Treasuries. My current situation is 62% S&P   8% BRK-b   23% Mag 7    Cash 17%, or 83% stocks and 17% Cash. Bonds seem outdated to me and clumsy, and my wife likes the Real Thing, Cash. My goal in a couple of years when I reach 80 years old, is 85% S&P and 15% Cash. It will all depend on taxes, and since at death your heirs get your stocks at the price on the day you perish, that is a great deal tax wise, so I doubt I will sell any stock in the Trust, that is 31% of our investments. One thing you all should reveal to young people is the magic of Compounding and taking advantage of any employee match for IRA's. I was lucky to learn from Dad and my Engineering Economics, and so happy I did. Start investing as early as possible.

  Post: Is Small Beautiful? Four Index Choices from Vanguard by Steve Abramowitz

  Link to comment from August 3, 2024

• Kyle, I did the same thing at Costco with the razor situation, but I watch the sales on those cartridges as well. Those new super duper ones are almost $4+ a piece but I stick with the Turbo type for $2+ or so, and ONLY buy them when on sale! But remember, after trying those $1 disposables, the GREAT thing about Costco is you can return the rest of them and get a FULL refund. My favorite stores besides Costco, is Nordstrom, Amazon and Lowes's which all have EXCELLENT goods and return policies.

  Post: Quality or Quantity?

  Link to comment from July 13, 2024

• My kids seemed to pick up Dad's financial savvy overall, which I learned by watching my father. However, I do not pry, but encourage them when they say they have a 401K, then I add something like and does the company have matching funds? This seems to work best. I do send them age appropriate articles from Humble Dollar that I think will guide them to a fulfilling retirement. They are now past 50 years old, so timing is good. For Grandchildren, I like to make sure they are saving once having a full time job, and also make sure they understand Compounding and inflation. The rest is up to them.

  Post: How nosey are you?

  Link to comment from July 4, 2024

• For sure those are brilliant mantras by Jonathan. Since my cancer of 5 years ago I developed the Mantra ODAAT, which is "one day at a time." This is working for me and I sincerely hope it helps others. For sure Jonathan, WE all love you and Humble Dollar. Stay the course as best as you can.

  Post: Four Mantras

  Link to comment from July 4, 2024

• You probably cannot predict this. Some say 80%, some less like 60%, I say plan on 100%. Remember the math rule of 72, divide by a number like 10 and then in 7.2 years your investment doubles. Will in retirement your money goes the opposite way. 4% inflation means in 18 years you will need twice as much to equal your original amount. Your friend is compounding and your enemy is inflation. For me, I am spending more than 100% of salary and in Retirement at Independent Living, I never expected that. Do your best to save more than 100%.

  Post: What percentage of your salary do you need for a comfortable retirement?

  Link to comment from June 15, 2024

• I feel the S&P 500 index is enough International exposure for me, since many US companies are diverse as much as 50% international. And yes, I go with Bogle and Buffett, however Buffett has a significant investment in Japan as of late. At 77 years old I put my money on US.

  Post: What percentage of a stock portfolio should be invested abroad?

  Link to comment from May 18, 2024