"...managing debt and not being stupid with spending." (emphasis mine) Stupidity is an individual right and neither you nor the government can take that right from an individual. Best we can do is to educate.
Agree with Mike. Here are my ruminations in re: 401k
Anything that the government touch (for the last 50 years) has been a disaster. FDR's Social Security was great idea when it was established but as we learnt from history, many administration (and its legislative counterpart, Congress) since FDR have lost its credibility in managing the Social Security fund.
For that reason above, it's up to the individual to manage one's own retirement fund. If a person invests its 401k fund into bitcoin or snake oil, that's his/her choice. I can tell that person it's unwise to do that but in the end, he/she can stack the cash in a bonfire and burn. Others might call that act stupid but that person has its own right to do the unthinkable.
I agree with Richard. According to some polls, Gen Z's think they will not recoup their SS 40 years from now. So they say, "Screw GenX's." So there will be cut. By 2030, we will know how much is the cut in SS payment.
Thank you Elaine. Last year, I posted something that Jonathan may not disagree. He politely suggested an idea that I still think he's right. There's many other forums to rant/rave but let's be civil in Humble Dollar. Do it in Jonathan's memory.
Not sure if everybody listens to the All-In Podcast (hosted by Jason Calacanis, a multi-millionaire venture capitalist). About 6 months ago, they discussed about the AI hype and some of them agreed that this AI hype was quite similar to the dot-com bubble. I'm not sure what episode number but you all should listen to the discussion if you can find that episode.
I was fortunate to work at a mutual fund company (hint: this mutual fund company has an ETF started with a letter Q). Hence, I learnt the tricks of the trade while providing IT support for the trading team. Knowing my capability, I'd rather be a brilliant investor than a trader.
When you are buying 1 Bitcoin, you are buying a prime number (if you don't know what's a prime number, your children or grandchildren might be able to help).
Crypto currencies (albeit Bitcoin, Dogecoin, Ethereum,...) facilitate transaction much quicker than current financial transaction. Is that a prime reason (no pun intended from the previous bullet) to get into this hype ?
One day during post-COVID, my mother, who lived alone, decided to take a drive south for 150 miles into the beach. She almost drowned in her car but God saved her; a late park visitor saw the tail light of her car and notified the park ranger. She was diagnosed with dementia and now is residing in a memory care. My siblings thought dementia and serious neurological disease only happened to other people. As far as family dynamics is concerned, my mother, before the above incident, had an estranged re/ship with her children, myself included. Now, we, her children, have to provide the care. Sounds unreasonable but that's life.
i just came back from a religious pilgrimage tour with a group of 55+ . Most people found me funny and some commented that "I am young at heart". I do not care for what others perceived me (albeit physical appearance vs age or knowledge vs age). Physically, I feel great and I thank God that gave me the wisdom to make the right decision in regard to physical health.
Comments
"...managing debt and not being stupid with spending." (emphasis mine) Stupidity is an individual right and neither you nor the government can take that right from an individual. Best we can do is to educate.
Post: How do you really feel about 401k plans?
Link to comment from January 12, 2026
Agree with Mike. Here are my ruminations in re: 401k
Post: How do you really feel about 401k plans?
Link to comment from January 12, 2026
I agree with Richard. According to some polls, Gen Z's think they will not recoup their SS 40 years from now. So they say, "Screw GenX's." So there will be cut. By 2030, we will know how much is the cut in SS payment.
Post: Who cares if Social Security benefits are cut?
Link to comment from December 29, 2025
Thank you Elaine. Last year, I posted something that Jonathan may not disagree. He politely suggested an idea that I still think he's right. There's many other forums to rant/rave but let's be civil in Humble Dollar. Do it in Jonathan's memory.
Post: Letter from Elaine
Link to comment from November 27, 2025
Not sure if everybody listens to the All-In Podcast (hosted by Jason Calacanis, a multi-millionaire venture capitalist). About 6 months ago, they discussed about the AI hype and some of them agreed that this AI hype was quite similar to the dot-com bubble. I'm not sure what episode number but you all should listen to the discussion if you can find that episode.
Post: Same But Different: The AI Bubble That Isn’t (Quite)
Link to comment from October 13, 2025
I was fortunate to work at a mutual fund company (hint: this mutual fund company has an ETF started with a letter Q). Hence, I learnt the tricks of the trade while providing IT support for the trading team. Knowing my capability, I'd rather be a brilliant investor than a trader.
Post: Are You a Trader or an Investor?
Link to comment from October 7, 2025
I'm a tech guy. So here's my $.02 opinion
- When you are buying 1 Bitcoin, you are buying a prime number (if you don't know what's a prime number, your children or grandchildren might be able to help).
- Crypto currencies (albeit Bitcoin, Dogecoin, Ethereum,...) facilitate transaction much quicker than current financial transaction. Is that a prime reason (no pun intended from the previous bullet) to get into this hype ?
Change my mind.Post: Why Bitcoin?
Link to comment from October 1, 2025
Jonathan. Your words live on. God bless.
Post: Jonathan and website update
Link to comment from September 20, 2025
One day during post-COVID, my mother, who lived alone, decided to take a drive south for 150 miles into the beach. She almost drowned in her car but God saved her; a late park visitor saw the tail light of her car and notified the park ranger. She was diagnosed with dementia and now is residing in a memory care. My siblings thought dementia and serious neurological disease only happened to other people. As far as family dynamics is concerned, my mother, before the above incident, had an estranged re/ship with her children, myself included. Now, we, her children, have to provide the care. Sounds unreasonable but that's life.
Post: Family Dynamics, Part 3: What Do Adult Children Owe Their Aging Parents?
Link to comment from July 30, 2025
i just came back from a religious pilgrimage tour with a group of 55+ . Most people found me funny and some commented that "I am young at heart". I do not care for what others perceived me (albeit physical appearance vs age or knowledge vs age). Physically, I feel great and I thank God that gave me the wisdom to make the right decision in regard to physical health.
Post: Mirror, Mirror on the Wall
Link to comment from July 16, 2025