We have discussed many times when to start Social Security and pretty much concluded the decision is personal and need based. I don’t have a problem with any of that, but what bugs me is concern over breaking even considering amount received and years of benefits.
It seems to me the monthly benefit, the income when needed most is all that matters. Since I once again find myself in the minority, I asked a neutral party,

I’m going to be 74 next month, and I’m beginning to realize that the little things in life are starting to frighten me more. If I were younger, they probably never would have crossed my mind.
When I walk, I’m constantly scanning the ground for hazards. A raised sidewalk or uneven pavement could send me tumbling—and at my age, I’m not sure my bones would hold up to the fall.
Every night before I lie down,

The Joint Committee on Taxation today posted their analysis of proposed changes to the current tax code. The 400+ page document is long but certainly easier to read than the tax bill that posted yesterday 5/12/2025.
Nothing final here but I think it will give a flavor to what may be coming in 2026.
https://www.jct.gov/publications/2025/jcx-21-25/

We often hear about the power of compounding returns—how investments grow exponentially over time. But there’s a lesser-known side to compounding: the cost of ongoing financial advisor fees.
Consider a $1,000,000 portfolio growing at 7% annually. Over 10 years, that could grow to about $1,967,151—if left untouched. But add a seemingly modest 1% annual advisory fee, and your ending value drops to roughly $1,779,056. That’s a $188,000 difference.
Why such a large gap?
Each year, the fee reduces your balance before it compounds.

My favorite, beautiful word is “consequences,” and how it seems to be ignored.
We tend to forget that no matter what we do, there will be a result, a reaction. There will be consequences, some intended, others not.  We tend to address one problem but fail to think through possible consequences. 
The best examples are at the national level. Apply a surcharge such as IRMAA and people will attempt to keep income lower.  
Roth accounts were intended to increase retirement savings,

It seems that converting my (non-IRA and non-Roth IRA) Vanguard mutual funds to the corresponding  or equivalent ETFs is a smart tax move to make.
However, then I read this in Vanguard’s information about making the conversion.
By making the conversion, I will be giving up the average cost basis of the shares I had purchased years ago, and applying the FIFO (First In First Out) cost basis.
This is what Vanguard says:
“If you are already locked into the average cost method by a sale,

This holiday can be a stressful one for many families.  Who plans it? Who hosts it? Do you go out for a meal or cook or cater in?  Who is invited?  Who can actually come (geographically and other commitments)?  How does everyone get along?
After an exhausting but great Mother’s Day at our Jersey shore home on a beautiful day here my wife and I collapsed as I reflected on how lucky we are compared to many families including many of our friends.

Here I sit on my deck, the blue sky is cloudless. It is 74 degrees, no wind and quiet except for the birds making their views known. My view of anything beyond 50 feet is blocked by thickly leaved trees.  
Between writing, I read commentary about tariffs, trade, economies on Project-Syndicate, a daily updated compilation of articles from scores of international writers. I’m also reading about the Salem witch trials and Ben Franklin’s rise to fame and testimony before Parliament about taxing the colonies –

There have been many discussions about assisted living and CCRC in HD. As I learn about how they staff and manage these facilities, there are many unanswered questions.
Currently, about 65% of elderly are cared for by their families at home. For 13% of those who aren’t living with family, the gap is partially filled by assisted living establishments. The median cost of care is $5,900/month, but ancillary services are extra. That can bring that cost over $15,000/month.

“Don’t ask what the world needs. Ask what makes you come alive, and go do it. Because what the world needs is people who have come alive.” — Howard Thurman
When I last checked in with you we were waiting to move to California to be closer to our, now, 18-month granddaughter. I shared the wisdom I had gotten from a six-day silent retreat. As Paul Harvey used to say, “now for the rest of the story”.

IT’S BEEN QUITE A YEAR for gold investors. While the stock market has struggled, gold hit a new all-time high, topping $3,500 per ounce just a few weeks ago.  Year-to-date, gold has gained nearly 30%, while the S&P 500 is in negative territory. This has certainly grabbed people’s attention—but does gold make sense for your portfolio?
To answer this question, let’s start by looking at the arguments favoring gold. Supporters typically point to two key attributes,

In this weekend’s Barron’s, Jack Hough wrote that ‘…. shoppers say they’ll spend an average of $259.04 per person on Mother’s Day this year, up exactly $5 from last …”
Sadly, my mother died several years ago. But my wife and I have two children, and they are getting her a gift. However, I can promise you that total the pair spend on their mother won’t begin to approach $520+.
Does the average shopper really spend an average of $260 per person for their mother?

What would you do?
A recent 60-yr.-old retiree with a pension over $100K/yr. and rental income of ~$30K/yr. My expenses are ~$70K/yr. As you can see I have no need to withdraw any $ from my retirement accounts (~$1.09M in trad. IRA and $2.2K in Roth) or two brokerage accounts ($1.5M-a bunch of mutual funds (18) & $500K- Schwab Intelligent Portfolio-robo advisor; overall asset allocation of 85% stocks & 15% bonds.) Seriously considering doing Roth conversions before reaching RMD at 75.

I hear about this topic on YouTube retirement videos. It has also been a topic on HD from time to time. We all know about the process of preparing financially for retirement, but it seems that for many people facing a retirement lifestyle is equally challenging.
Honestly, I can’t relate. I never thought about what retirement living would be like. I had no expectations. Perhaps taking phased retirement for 18 months was a factor, but even when I decided on doing that it wasn’t with a plan to prepare for retirement,

IT’S TIME TO PAY IT forward.
That’s a phrase I often use when talking about helping the next generation. But my efforts have been mostly focused on my children and grandchildren. What about others in future generations, especially those from less affluent families?
Welcome to the Jonathan Clements Getting Going on Savings Initiative and the accompanying book, The Best of Jonathan Clements: Classic Columns on Money and Life.
The savings initiative aims to get young adults started in the financial markets with $1,000 contributions to Roth IRAs,