Before I had heard of David McKnight and his books or read his most recent, The Guru Gap, I read a paper by Professor James J. Choi from Yale University titled Popular Personal Financial Advice versus the Professors. I first became familiar with him after reading his bio on the Yale University School of Finance … Read more
A friend’s wife texted me a while back asking about “Paze.” I hadn’t heard of it then, even though, as I’ll explain later, I practically “invented” it many years ago—well, not really, but kinda-sorta (well, you’ll see). It sounded like another digital payment product, so I looked into it. (I used to work in IT … Read more
Well, it’s baaaaack…and you know what: stock market volatility. And it came back with a vengeance a few weeks ago, moderating some in recent days. Presidential administration transitions ordinarily create uncertainty and instability, but wars, tariffs, and deportations are stirring the pot a little more than usual. I occasionally get asked how I think a … Read more
There are many retirement financial milestones to pay attention to: your penalty-free early distribution age from an IRA (59/12), eligibility for Social Security (early filer at 62 and full retirement age at 66–67), Medicare eligibility (age 65, for most), and your RMD age (currently 73; 75 beginning in 2033). I’ve already hit all those milestones … Read more
First and foremost, thank you for subscribing to this blog. I’ve had quite a few new subscribers this year and really appreciate the kind comments I received from readers. If you have a topic you’d like me to explore next year, just a question that you and perhaps others would like me to respond to, … Read more
In a previous article, I talked about saving for retirement and the need to focus on expenses, especially for those with less savings. The challenge is that many unknowns exist on both sides of the income/expenses equation. Even if we have a pretty good idea of our income (although the more we rely on savings, … Read more
In some previous articles, I’ve discussed longevity risk, withdrawal rates, and Dave Ramsey’s 8% withdrawal rate recommendation. These topics can quickly get mind-numbingly complex. The financial side of retirement has a lot to do with the math; it’s a big math problem we need to solve as best we can. We do this thoughtfully, humbly, … Read more
A sustainable withdrawal rate is integral to a wise retiree’s financial stewardship plan. Your withdrawal rate determines how much money you’ll take from your retirement savings to add to other sources of income to meet your spending needs. I became aware of a video of one of Dave’s recent shows in which he discussed retiree … Read more
In a previous article, I touched on the risk that rising interest rates present to retirees. There are risks—the negative impacts of rising rates—but there are also benefits, especially for savers and retirees. But to the extent that higher rates are usually associated with inflation, the scale tips toward the negatives and less toward the … Read more
