I HATED SCHOOL. There, I said it. From reading the bios of other HumbleDollar contributors, it appears most, if not all, enjoyed their academic experience. Many have gone on to acquire advanced degrees. I, too, went on to acquire post-college education, but only when my employer paid.
But the best education I received wasn’t found in the classroom, but in day-to-day life. It came from observing what others did or didn’t do.

I was reading this New York Times Article today titled: ” How one man lost $740,000 to scammers targeting his retirement savings”. See this link.
This is a shocking reminder that scammers are getting more and more sophisticated. It is going to get worse. Criminals on the internet are increasingly going after Americans over 60 for their retirement savings. Potential losses last year were over $3.4 billion.
Here’s another link that’s relevant.
What steps should we take to protect our assets from scammers?

My 2014 Honda Accord hit 10 years recently. It has 97,000 miles. It still runs well; cosmetically it is average.  I use it as a 2nd car. We use my wife’s 2022 Honda Pilot for the majority of our driving. It’s a fine car, but not exciting.
I bought this Accord when I was driving from Valley Forge, PA to northern VA frequently. But that stopped after a few years when my company role changed. I probably put on half the mileage in the first two years.

Is being rich the same as being wealthy? Nope. Being rich means you have a high income, live well, perhaps lavishly. Being wealthy means you have accumulated growing assets.
You can be rich, but not wealthy and you can be wealthy, but never rich. 
The secret to accumulating wealth is accumulating stuff- stuff that grows in value – not luxury cars or designer clothes or even tattoos. My wife’s engagement ring has increased in value ten fold –

I thought it might be interesting to ponder the things about our lives we are perfectly content with and would not change regardless of money.
If you received an unexpected inheritance of $20 million, would you move to a different house/location?  Would you drive a different vehicle?  Would you eat or dress differently?  I don’t think I would.  I’m living exactly where and how I want to live.  Of course, this is easy to say now. 

I have just read a guest post dated 7/25/2024 to Collabfund.com titled Fill The Bathtub by Ted Lamade the managing Director at the Carnegie Institution for Science. I recommend reading this thoughtful article about trust.
A link to the article is –
https://collabfund.com/blog/fill-the-bathtub/
I have been thinking a lot about why I read HumbleDollar most every day. I think the key for me is the trust I have that what is posted is the truth as experienced by the writers whether the source is the editor,

AMONG THE FINANCIAL topics grabbing investors’ attention, inflation for many years was near the bottom of the list. In fact, between 2010 and 2019, inflation averaged just 1.8% a year, and the Federal Reserve was looking to lift that rate. Throughout 2019, the Fed lowered its benchmark interest rate multiple times, citing inflation that was running below its preferred level of 2%.

But just a few years later, in the midst of the pandemic, all that changed.

You’ve gone long-term the S&P 500 and you think you’re diversified. Lots of luck. Others of you are smug because you opted instead for a total market fund. At least you guys had the right idea. Truth is, neither of you is adequately spread out. Why not? Because you are horribly underinvested in small cap stocks
 
The S&P has absolutely zero small stocks represented, according to Morningstar’s definition. And small companies make up only 8% of the broad market alternative’s holdings.

WHO HAS TIME TO die? I never realized death would be so busy.
I thought I had my financial affairs in good order. But in the two months since my cancer diagnosis, I’ve made countless financial tweaks, mostly with a view to making things easier after my death for my wife Elaine and my two children.
Here are just some of the steps I’ve taken:

I took my two checking accounts—my personal account and the business account for HumbleDollar—and made Elaine the joint account holder with rights of survivorship.

Recently we were visiting one of our sons and his family, include a 13- year old granddaughter.
Out of the blue she stated she didn’t like millionaires. I couldn’t let that go unexplored. 
Why not, I asked. They think they are big deals and they show off.  How do you know a person is a millionaire, I asked. Because they have lots of stuff, fancy cars, and live in big houses. 
My son was afraid of where I was going with this and gave me a look. 

How much of our success is due to luck?
As HumbleDollar’s U.S. readers have occasionally noted, we’ve all been lucky in one crucial way: We live in 2024 in what’s arguably the most economically successful nation ever. That’s meant large swaths of the population have enjoyed financial success, even if they weren’t the best students, or the hardest workers, or the most talented employees.
But our luck doesn’t end there. Before we persuade ourselves that our success was solely due to our own talents and efforts,

I was an independent advisor for Charles Schwab but have always entrusted my money to Fidelity. I’ve been spoiled by the elite service, very knowledgeable telephone reps and emphasis on mutual funds.  I see Schwab more as a bunch of swashbuckling stock enthusiasts offering mutual funds merely to have a presence.
I’ve snubbed Vanguard despite its reputation as the hands-down low-cost provider because of its notorious service shortcomings—insufficient online tools, limited telephone hours, poorly trained agents and no local branches.

You are planning to get another tattoo, it costs $200.
You are going to take your best friend out for fine dining, it will cost $175.
You promised your children to take them to a local theme park, $200.
You receive a bill from your doctor because you hadn’t met your deductible, $200.
Which expense is unaffordable?
Okay, a bit of a trick question, but there is no doubt the answer is nearly always the medical expense is unaffordable.

I’M NOT PARTICULARLY well traveled. I’ll turn age 65 at the end of this year and I’ve never been to a Caribbean island. I’ve never been to Hawaii or Bermuda. Heck, I’ve never even been on a cruise.

I’ve never been to Canada or Alaska. I’ve been to a couple of the U.S. National Parks, but have yet to visit the Grand Canyon, Yellowstone and Yosemite. 

I’ve been to Europe quite a few times,

WHEN I REACHED AGE 70, I felt a sense of accomplishment, a bit of weird pride. At 75, I had a similar feeling. But when I turned 80 last year, things felt different. It was like I was an overachiever. Suddenly, the future wasn’t as long.

For many years, I’d searched for a high school friend who’d been my navigator at sports car rallies, but with no luck. Then, recently, I stumbled across his obituary.