Windows 10 Extended Security Updates

All my computers are Windows 10 and not upgradable to Windows 11.  For over a year, I have been gently warned that Microsoft will stop Windows 10 security updates on October 14, 2025.   

Recently, I received notice that Microsoft was providing extended security updates (ESU) for one year through October 13, 2026.   The cost is free using Microsoft account points, otherwise it is $30.   ESU is good for up to 10 computers.

I decided take the update since it will allow me to continue using my programs that still work with Windows 10, but may not be compatible with Windows 11.  Accessing ESU was easy.  Just go to Settings>Windows Update and find out if the computer qualifies for ESU.  In my less used computers, I was denied qualifying for ESU and I needed to make sure all Windows updates had been installed before becoming eligible.

Hopefully, Microsoft will do another extension next year.

For more on Strategies and Plans Ideas , check back every Monday  for a new segment.

This is not financial nor computer advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Expanded Availability of Private Credit and Equity

Expanded availability of complex investments maybe a canary in the coal mine.

Private credit and private equity used be only available to accredited investors with $1,000,000 net worth or higher.  The returns from private equity and credit were higher, but involved a large investment amounts, a  lockup period and higher risk.

Recently, private credit and private credit are being made available to people with much lower net worth and lower investment amounts.  This being done through investment companies grouping investors and then selling smaller "slices" of private credit or private equity to individuals.  

I have been offered private equity and private credit investment opportunities.  While the returns are higher, I am still reluctant to invest in these.  First, there is the lockup period, which is 5-10 years, although there are some periodic withdrawals.   Second, there is no guarantee the original investment will be returned.    Third, the increase in return is not worth the higher risk for me. Fourth, diversification of risk doesn't  protect if the entire market fails.  I remember in 2007, when mortgage backed bonds were grouped together and sold as slices to individual investors.  The market collapsed and resulted in the Great Recession of  08/09. 

For more on New Beginnings, check back every Sunday for a new segment.

This is not financial advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Difficult and Hard Truths about Aging

I thought this was an interesting article. I have experienced about 2/3 of the truths.😢  I guess I'm aged and old.😎

The Difficult Truths:

Older Adults Are Sharing The Difficult Truths About Aging That No One Talks About, And It's Eye-Opening

The Hard Truths:

"Young People Would Be Surprised By This": 21 "Hard To Swallow" Truths About Getting Older That No One Talks About

I am not a fan of reading multiple slides, but I thought these were interesting and relevant enough artcles to post.

For more on Reflections and Musings, check back every Saturday for a new segment.

This is not financial nor aging advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Myths About Early Retirees

Here are some myths and realities.

Myth:  I nothing to do and lots of time.   

Reality:  My day is filled. I don't know how I had time to work.

Myth:  I am always available to assist acquaintances who are working parents with kids.

Reality:  I'm busy enough with my own kids.  

Myth:  I will want to take care of grandkids full time to reduce child care expenses.

Reality:  While I don't have grandkids, I've already done my time by raising my own children.

Myth:  It's impressive to have a successful early retirement.

Reality:  No one cares or is impressed.

Myth:  I will be doing a lot with long time friends.

Reality:  We're all busy or some have passed way.

Myth:  Government programs, such as Social Security and Medicare, will be a great benefit.

Reality:  They are great benefits, and very complex.  Also, Social Security covers less than I expected, and Medicare costs more than I expected.

Retiring early is a different experience that what I expected.

For more on Reaping the Rewards, check back every Friday for a new segment.

This is not financial nor retirement advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Middle Class Income versus Middle Class Housing

Middle class income has not kept pace with the price of middle class housing.

The middle class is a household with income that is at least two-thirds of the U.S. median income to double the median income. Middle class would be a range of incomes from $49,720 to $149,160, based on Census Bureau data for 2022.   In 2022, about 51% of American households are middle class.

Middle class would be a range of incomes from $17,710 to $35,420, based on Census Bureau data for 1980.  

To see the range of incomes for middle class household see What Middle-Class Income Has Looked Like Every Year Since 1980 in both that year's dollars and 2024 dollars.

Median house price in 1980  $64,600 or 1.82X - 3.62X of middle class income

Median house price in 2022  $428,700 or 2.87X - 8.62X of middle class income.

Yikes.   Middle class income growth is significantly behind middle class housing price growth.   That is the major economic issue for those entering the workforce in the past few years.

For more on  Crossing Generations, check back every Thursday Friday Saturday Sunday for a new segment.

This is not financial advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Watching Paint Dry To Become A Millionaire

Results from good financial practices is akin to watching paint dry.  Nothing seems to be happening and give it enough time, it will work out well, provide you follow the procedures given.

In the links below, I posted a "get rich slowly" strategy to become a millionaire.   

 

Become a Millionaire

Teach a Child to Become a Millionaire

Spoiler alert:  It takes 40 years, but it is guaranteed to work..

For more on The Practice of Personal Finance, check back every M Wednesday for a new segment.

This is not financial nor millionaire advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

The Economy May be Worse than It Appears

The economic numbers look great, unemployment is low, and the stock market keeps rising.  However, something doesn't feel right.

I read LinkedIn and Reddit Posts related to employment and the economy.  Qualitatively, posters are sharing that getting hired for a job is very difficult nowadays.   People send out hundreds of applications and get little response.   In addition, people are taking much lower paying jobs to make enough money just to pay living expenses.   Or they are surviving on gig jobs.   Thus, technically, they are not "unemployed."

 See the following article for an example. I've been job searching for over 2 years while raising a child. Here's why I still turned down an offer.

In addition, people are maxing out credit cards leading the highest ever credit card debt and falling behind on car loan payments.  Personal bankruptcy filings have increased significantly in 2025.

Finally, the stock market gains of the past 2 1/2 years (over 20% gains in '23 and '24, and over 12% in '25) have helped keep consumer spending up.

I don't know how much longer the economy and the stock market can hold up.  I expect it may not not much longer, unless money is being or will be pumped into the economy by the government.

 For more on  Reflections and Musings, check back every  Saturday for a new segment.

This is not financial advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

The Best Age to Start Preparing for Retirement

The first best time is in one's early 20's or when one starts work, whichever is sooner.  The second best time is now, if you haven't started already.

The benefits of starting earlier are:

• More time to save
• Savings amount can be lower
• Long term care premiums are lower
• Start becoming debt free earlier
• Understand employer retirement savings options
• Market volatility less of an issue

The risks of starting later are:

• Less time to save
• More needs to be saved
• Long term care premiums are higher
• More debt to eliminate
• Not understand employer retirement options
• Market volatility can derail a retirement date

I chose my 20s, due to my dad's encouragement.  I'm glad I did.  I'm starting my kids when they start working with a Roth IRA accoutn.

For more on Strategies and Plans Ideas , check back every Monday  for a new segment.

This is not financial nor retirement advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Convenience Fee for Using Credit Cards

More small businesses are charging customers a "convenience fee" for using a credit card.  The fee ranges anywhere from 2% to 3.5%.  I understand since merchants pay a fee to the credit card company, but I'm not a fan of paying additional fees over the cost of the product or service.

Nowadays, I check what payments are accepted and if there is a fee for using a credit card.  If there is a fee, I will pay by check.  I don't mind doing so.

However, most large retailers still accept credit cards with no additional fee.  I expect the additional fee is worth the cost of bringing in buying customers. I continue to use a credit card with these merchants.

For more on New Beginnings, check back every Sunday for a new segment.

This is not financial nor credit card advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

The New Roaring 20s?

"History doesn't repeat itself, but it often rhymes." ~ Mark Twain

Just before 2020, I wondered with we might have another "roaring 20s" that happened a hundred years ago.  COVID happened and blocked that idea out of my mind.    Subsequently, billions of dollars were pumped into the economy through "stimulus checks" and interest rates were reduced to almost zero.   The stock market rebounded and rocketed.  Asset values, such as housing, went up significantly.  The economy recovered and grew.

However, 2022 had significant inflation and interest rate increases by the Fed.  That slowed the economy and stock market, which have since rebounded.

Now I'm wondering again if the remainder of this decade will be the Roaring 20s again.   It would be great if the economy and stock market roar again.  But we also know that the last Roaring 20s also ended badly with the Great Recession.

For more on  Reflections and Musings, check back every Saturday for a new segment.

This is not financial advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Medicare is Not Free Healthcare

Sorry, Medicare is not premium free. Medicare appears to less expensive the ACA (Obamacare) plans and may be less expensive that private insurance from one's company.

It's true Medicare part A, which is hospitalization is premium free if one has worked and paid 10 years, but Medicare part B, which pays for the physician,  requires a premium starting at $185/month and rises depending on income.   Also, one has to pay copay costs on both Part A and B.   In additional, one has to pay premiums and copays for Part D, which is for prescription medications. 

I use Medicare Advantage through the company from which I retired.   It's a good plan because my company is large enough to be self insured. It costs me $41/month more than just Medicare.   Hard for me to compare to similar plans others might have.

For more on Reaping the Rewards, check back every  Friday for a new segment.

This is not financial nor health insurance advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Employers Eliminate College Degree Requirements But...

Hiring managers still choose applicants with college degrees over those without a college degree.

Goodwill CEO says hiring managers are going behind their bosses’ backs and looking for workers with college degrees, not skills

Unfortunately, even applicants with college degrees find it difficult to get an offer for a job, running into requirements of prior experience even for entry level jobs.

Although I'm retired, I do have worries about this situation since my daughter is in college right now.

For more on  Crossing Generations, check back every Thursday for a new segment.

This is not financial, education, nor employment advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Stock Market Volatility is Back

Is a Crash coming?   Maybe, Maybe, Maybe

Lots of pundit are forecasting a coming crash.  Ray Dalio, Jamie Dimon, and Andrew Sorkin are among them.

However, when will the crash come?   No one knows.

So, it's best to be prepared and ready.

What am I doing?

• Have an emergency fund of a 1-3 years or more.
• Not taking on any additional debt.
• Ensure the certainty of current income streams: wages, interest/dividends, rental.
• Have cash ready to invest in a market index for a big drop.
• Staying invested and not selling.

Why?

• Emergency fund  and income stream will covers expenses if needed.
• Since 1950, every decline of 10% or more has beat the previous high on recovery.
• Bear markets last 11-14 months.
• Average time to reach previous peaks is 2.5 years.
• Investing is a long game.  

Most of all, I will try to stay calm and not panic, which is hard to do in the moment of a crash.

For more on The Practice of Personal Finance, check back every Wednesday for a new segment.

This is not financial advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Repairing Instead of Replacing Windows

Our 35 year old windows are original and solid wood.   The sashes are in still good shape, no rot.  However, some of the sills and nose had warped.   In addition, the windows were slightly askew when opening and when closed.

We got an estimate on replacing all the windows with aluminum clad wood windows and composite doors.   The estimate was only for replacing the window sashes and liner, but not the window frame, which results in a slightly smaller window opening.  The cost was expensive, about 15% of the purchase price of the house.

To be honest, I really like the feel of solid wood windows.  My first house was 100 years old with original windows. the ones with counter weights and ropes.

Instead we worked with three different business (two of them sole proprietorships):  one repaired window sills, one repaired sashes and window glass in the doors, and one that repair the mechanisms.   Total cost 5% of replacing windows and doors or 0.75% of the cost of the house.

At 1/20 the cost of replacing windows, we decided to do the repairs option.  The repairs have been completed and we are very satisfied.  Admittedly, it took more effort to find the craftsmen that did the work, which I did through referral.  But it was worth it, for both the quality and savings.

For more on Ideas You Can Use , check back every Tuesday for a new segment.

This is not financial nor maintenance advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Changing to ETFs for Fixed Income

I've been purchasing the bond ETFs in different accounts over the past couple weeks.   Although too short to really tell yet, I think the decision has been a good one.  Since interest rates appear to be declining, the bonds have been stable or slightly up, even after going ex-dividend. 

For now, I'm going to hold on purchasing any more bonds and wait to see how the government shutdown affects the rates.    If the EFT prices increase, I will just hold. If the ETF prices drop, I will consider buying more.   In either case, I will be getting a monthly interest dividend which will contribute to our retirement paycheck.

For more specifics on the bonds see Evaluating Owning Bond ETFs

For more details on a retirement paycheck see Creating a Retirement "Paycheck."

For more on Strategies and Plans Ideas , check back every Monday for a new segment.

This is not financial nor investing advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Am I a Brilliant Investor?

Don't mistake a bull market with brilliance. ~ old adage

Our investments are doing well this year.   Since April 2025, the market has advance significantly and has pulled up most of our investments.  Some individual stocks have had 500% gains in the 3 months that I've owned.  (I wish I had bought more or maybe FOMOed.😎)  

I used to think I was brilliant, but not anymore.  I'm benefiting from an awesome bull market, where most stocks go up.  If I'm getting tremendous returns, it's mainly because of luck, not brilliance.

IMHO, brilliance is when I can stay invested through the next downturn, and even add more funds to take advantage of the dip.   To do that, I'm adjusting my investments to deliver steady income even in the instance of high volatility.  If I can do that, then maybe I can claim being brilliant.

Until then, I continue to sell off individual stocks, tax efficiently and profitably, and prepare to buy VOO and MGK index ETFs during the next market decline.

For more on New Beginnings , check back every Sunday for a new segment.

This is not financial nor investing advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Life Got Tougher as a Senior

"Old age is not for sissies." ~ Bette Davis

I thought life would be easier and more straight forward as I got older.   After all, I would be more experienced and knowledgeable.

I was wrong.  

Here are the reasons:

• Complexity -  There are lots of decisions to be made as a senior: when to retire; when to start social security; which Medicare options to use, how to withdraw retirement funds, where to invest retirement funds.  Too bad the government doesn't offer free senior concierge service to navigate.
  
  
• Bureaucracy - There are lots of "opportunities" to deal with government and insurance regulations and rules:  Social Security, Medicare Premiums,  Tax Deductions and Credit, RMD withdrawal options, Long Term Care Insurance, Health Care Insurance.   If one doesn't closely track statements and claims, one can end up paying much more that required.
  
  
• Technology - I love the old days of talking immediately to a real person in the U.S. for help with issues.   Nowadays, I get folks in other countries or worse yet, an incompetent AI assistant.  Or I am expected to do everything though apps or online websites. 
  
  
• Aging Impacts - Worst case, my favorite and best service providers (health care, maintenance, repair) retire before I stop needing them.  Also, I'm not as agile as I was in my 40s.  More aches and pains, which require OEM parts to be replaced, with the requisite higher health care costs.  I do not look forward to looking for and moving to an assisted living facility if I ever need to.
  
  
• Loss of Friends and Family - My contemporaries are passing away slowly.  Parents at first. Then  teammates from high school, college and recreational adult leagues.  Followed by neighbors, former colleagues at work, and other acquaintances.   I haven't been making new friends fast enough to replace the losses.  
  
  
• Contrarian Factors - Life happens and can be a negative.   Inflation, significant health issues, shortage of savings, loss of spouse or significant other.

Finally, my personal approach is the prepare for the future as much as possible, live in and enjoy the present, and have a positive attitude when adjustments need to be made.

For more on Reflections and Musings, check back every Saturday for a new segment.

This is not financial, retirement nor aging advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Regret for Taking Social Security at 62

Recently, I posted about a retiree who regretted waiting until 70 to collect Social Security.

Here's an article about a retiree regretting starting Social Security at 62.

I’m a Retired Boomer: Why I Should Have Waited Until 70 To Take Social Security

A summary of her regret is that the Social Security is not enough money to do all the things she would like to do, now that she's 72.

Of course, hindsight is always 20/20 for both regrets.

In my case, I'm still happy to have started at 64, now that I'm 67 and past my FRA (Full Retirement Age).

For more on Reaping the Rewards , check back every Friday for a new segment.

This is not financial, retirement, nor Social Security advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Protecting Self From Potential Danger

When I was a child, my mom told me not to talk to strangers.  As a teenager,  my parents told me not to  hitchhike nor pick up hitchhikers.  That was about it.

When my daughter went to college, I advised her not to accept medicine or drinks from anyone.   This was in addition to not accepting rides from strangers.  Recently, I saw on Reddit that people were being drugged by passing strangers, who put quick dissolve drugs in their open drinks that weren't being watched.   Yikes, it's getting even worse.

I contacted my daughter to warn her to always keep her drinks in sight.  However, she told me that she was already warned during freshman orientation.

Times have changed.   When I was in my 20s, I would accept drinks from people I had just met our regular bar.   Also, I was given a ride home a couple times by people whom I only just met at our regular bar.  Never once thought that I could have been putting myself in danger.  

Maybe I was just lucky then.  I am much more careful nowadays.

For more on Crossing Generations, check back every Thursday for a new segment.

This is not financial nor social advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Evaluating Owning Bond ETFs

Typically, I have been buying fixed income bonds and CDs and hold until maturity to receive the original principal.  Of course, that leads to owning numerous CDs and bonds, and repurchasing when they mature.  Owning bond mutual funds or ETFs has the risk that the value decreases when interests rise and there is no guarantee of recover the original cost by holding to maturity.

The main reason I am going to bond ETFs is for simplification.   Bond ETFs make monthly interest payment and take care of the reinvestment process when bonds mature.    Hopefully, even with bond volatility and the the fluctuation of ETF values, I will still receive approximately the same amount of interest each month towards my monthly retirement "paycheck."

Here's what I've been doing:

Taxable accounts

I've been purchasing municipal bond ETFs: SCMB, VTEB, and VCRM.    SCMB has been the biggest purchase.   

Non taxable accounts -IRAs

I've been purchasing taxable bond ETFs:  BND and SCHZ.

I've only owned the ETFs about a week.  So far the municipal bond ETFs have been fairly stable.  The taxable bond ETFs have declined slightly, about 0.2%

Analysis

My main criteria is if we get consistent payment over time and the impact of interest changes on the amount.  I've only received on partial dividend since I bought shares before and after the ex-dividend date of the 1st.  Next month, I will get a better idea of the monthly payment amount to expect from these bond ETFs.

For more on The Practice of Personal Finance, check back every  Wednesday for a new segment.

This is not financial, fixed income, nor investment advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Things to Consider When Retiring Early

For those considering FIRE (Financially Independent, Retire Early), here are some of the items I learned about when retiring early.

• Health insurance costs may increase.  I had family health insurance from my company.  When I retired early, I was eligible for retiree insurance, at a much higher cost.  My spouse and I each paid an amount that was previously just family insurance premiums, so double.  However, my daughter paid the COBRA cost, which is full fare.  A 3.5 X increase.  I don't know the impact for people that need to change to ACA Health Insurance (Obamacare).
  
  
• Know where funds for expected expenses are coming from.  I had not thought much about this.  When I retired, all of our expenses were paid from my paycheck.   We had to start using funds from interest/dividend payments, and savings.  We did not use any funds from retirement accounts.   I did do a few part time jobs, but they may have covered a months expenses at most over the year.  I did work a temporary full time job for 11 months, and declined an permanent extension since I was retired.  Also, I had some stock options that covered some annual expenses.
  
  
• Understand that Social Security payments may be significantly reduced.  I did not think about this when I retired early.  Social Security payments are calculated based on the highest 35 years of wage income.   If one only works 25 years, 10 years of income will be counted as $0 and the resulting payment will be lower.
  
  
• Consider when to start Social Security payments.  Originally, I estimated the ability to retire without ever getting Social Security.  Then I assumed I would wait until 70 to maximize my benefit.  I ended up starting at 64 due to auxiliary benefits my children and spouse were eligible to receive.
  
  
• Tax planning can significantly reduce tax liability.  I took advantage of being able to be in lower tax brackets than when I was working.  When earning a W-2 paycheck, I had little opportunity to make adjustments to reduce our tax liability.   With no paycheck, I could modify how much taxable income to take, in order to be in a lower tax bracket that allowed us maximize tax credits and take more deductions.  In addition, we did Roth Conversions and paid taxes at a lower tax bracket than we expect to have when RMDs are required.
  
  
• Protect one's time.   Other people often see retired persons as "free work" for their projects, whether it be with a non-profit or helping with their kids, since the are still "too busy" with work. I learned how to say "No" graciously many times.

GLTA thinking about retiring early.   For me, it was much less money and much more time.  Looking back, it was worth the tradeoff.

For more on Ideas You Can Use , check back every Tuesday for a new segment.

This is not financial nor early retirement advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Minimizing Individual Stock Risk

Reminder to self:  The market always reaches a new high after a decline, but individual stocks may not.

Here's my real life example.  In 2013, I bought a "good" stock that had declined 33%.   It declined another 66% before recovering.  It's still down 49% from when I bought in 2013.   If I had bought S&P 500 index, in 2013, I would be up 431% today.  

I've learned my lesson. My strategy going forward is to invest mostly (over 95+%) in stock index ETFs to eliminate individual stock risks.  Specifically, I will buy VOO and MGK, which are the S&P500 and Large Cap Growth Index ETFs.

In the future, I may do limited trading of individual stocks, but less that 5% of equity investments.  It's still fun to pick a big winner occasionally, but I don't do it often enough to beat the returns from VOO or MGK. 

Disclosure:  I currently do not own VOO and MGK.  I plan the buy some when the market declines 10% or more in the future.  In the meantime, I am selling off my individual stocks as they recover, which may be never for some.🤡

For more on Strategies and Plans Ideas, check back every Monday for a new segment.

This is not financial nor investment advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Online International Order Tariff Issues

"Uncertainty is the only thing that is certain." - new reality for international orders.

People are getting surprise charges since the de minimis exemption for import duties on orders under $800 has expired.  The recipient is responsible for charges since they are the "importer."

New Tariff Rules Bring "Maximum Chaos" as Surprise Charges Hit Consumers

A friend of mine recently ordered a part for his bike from Canada for $10.   There was $20 shipping charge.  When he received the part, he was charged another $37 for duties and customs, which he was informed of after the part was delivered.

Another friend's son order a U.S. made used part owned by a Swiss Company and the part has been sent.  However, the part MIA in the delivery system, with no organization able to find its location.

Finally, my spouse ordered a small item from Japan.  After receiving the item, UPS billed her $2 for customs and duties, which was not unreasonable.  However, we don't know the impact of recent tariffs on future orders.

It's likely we will need to prepared for tariff related surcharges for a while.

For more on New Beginnings, check back every Sunday for a new segment.

This is not financial nor purchasing advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Creating Luck for Personal Finance Success

Pool is all luck.  The more I play, the luckier I get. - quote on my pool rack

The same is true for personal finance.  The more one does the following, the luckier one gets.

• Before turning 30 and, if possible, before 25, be employed in a job that pays well.
  
  
• Automatically save a percentage of what one earns. 10% is a good start. First have an emergency fund.  Then invest the rest.  Remember, don't bet against America.
  
  
• Live below one's means.   Buy only what one needs.  Simple yet, it works.
  
  
• Avoid using debt.  That includes for higher education.  In many cases, debt is a spiral downward to personal finance failure.  
  
  
• Make extra payments each month to mortgage and car loans to pay them off faster.
  
  
• Marry someone who has these personal finance values.  It's easier when both work together.
  
  
• Teach skills to one's kids.   As adults, kids should be financially independent and not require bailouts.

Still it doesn't guarantee success and YMMV.

For more on Reflections and Musings, check back every Saturday for a new segment.

This is not financial advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Regret for Delaying Social Security to 70

"Tomorrow is not guaranteed." ~ old adage

Common thinking is to wait until 70 if one can afford it and is healthy in order to receive a higher Social Security payment.  Mathematically, that seems to be good advice.  However, life happens.

Below is a link to an article in which the person regrets waiting until 70 and his reasons.

I'm Retired And Regret Claiming Social Security At 70 - Here's Why

Here's a summary of the article:

• Hidden Tax Trap. That higher income pushes him into brackets where more of his Social Security gets taxed, and his Medicare premiums get hit with surcharges. He's essentially penalized for following conventional wisdom about waiting until 70.
  
  
• Health Gets Worse. He spent years in my late sixties staying healthy, exercising, and planning for a long retirement. Then at 72, he was diagnosed with a serious condition that limits my mobility and energy. Those extra years between 67 and 70 when he could have truly enjoyed his benefits are gone forever.
  
  
• Breakeven math is just theoretical.  The break-even point for waiting until 70 compared to benefits claimed at age 67 is approximately age 82. But that calculation assumes everything stays constant – your health, Medicare costs, tax brackets, and Social Security's future stability.  Life happens.
  
  
• Missed Experiences. While he was dutifully waiting until 70, his neighbor who claimed at 62 was traveling the world. She's now 67 and has already received five years of checks that someone waiting until 70 hasn't gotten, allowing her to travel and enjoy life.
  
  
• Social Security May Cut Benefits. He delayed for maximum benefits that might not even be guaranteed when potential cuts come in 2033 or 34.
  
  
• Could Have Done Well Investing. With a 4 percent real return, a person has to live to 89, instead of 78, for it to be beneficial to delay benefits from age 67 to 70, yet 77 percent of 67-year-old males and 65 percent of 67-year-old females die before 89.
  
  
• Spousal Benefits Delayed.  His spouse could have been receiving 50% of my full retirement age benefit for three additional years, but instead got nothing while he chased those delayed retirement credits. That's money they'll never get back.
  
  
• Worried More About Market Fluctuations.  During those three years he delayed Social Security, he had to rely more heavily on my 401(k) and other investments for living expenses.
  
  
• Extra Cash Would Have Been Useful.  Between ages 67 and 70, he faced unexpected expenses: home repairs, medical bills, and helping his adult children through financial challenges.
  
  
• Having Money Sooner Is Better.  Looking back, he realize he treated Social Security like a pure investment decision when it should have been a lifestyle choice. If he could do it over again, he'd claim at full retirement age and use those three extra years of benefits to truly enjoy the beginning of his retirement while he was still healthy enough to make the most of it.

I agree with many of his points since I took Social Security early at 64 and avoided experiencing many of reasons for his regret. 

For more on  Reaping the Rewards, check back every Friday  for a new segment.

This is not financial, Social Security, nor investment advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

The Curse of Easy Credit

Managing personal finances used to be simple, before the days of multiple credit cards and easy loans.  We earned money.  We paid mostly in cash, except for home and car loans.   We saved in banks.  If we couldn't afford it with cash, we didn't buy it.  Easy peasy to have good personal finance results.

Fast forward to today.   Don't have enough money to buy something.  There a lots of credit options. 

• Need money for everyday items or smaller purchases.  Max out multiple credit cards.  Buy now, pay later.    Split payments up.  Rent to own.   The temptation is that all these options are at NO cost if one pays them off on time.   People rarely pay on time which results in paying high interest rates.
  
  
• Need money for expensive items.   Can't afford to go to college.  There's money from student loans.  Car loans now go out to seven years and are often upside down on the day it's purchased.  These loans are great until one has to start paying them back.
  
  
• Need money sooner.  Get advances on one's paycheck, but at a cost.  Get a money advance on one's credit card.
  
  
• Want to gamble.  No need travel or have cash.  Go online with one's credit card.  One can go thousands of dollars into debt.

I made my daughter an authorized user on a credit card, but still had her pay her part of the bill.  She commented how much easier and quicker it was to spend money using a credit card. Managing personal finances requires good skill and discipline.  Today, there are too many temptations and opportunities to veer off a successful path.  

For more on Crossing Generations, check back every  Thursday  for a new segment.

This is not financial, credit card, nor debt advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC

Protecting Personally Identifiable Information

There a lots of attempts to steal people personally identifiable information (PII) and use it.   I have not subscribed to any protection services, even when it's provided for no charge due to a data breach. I feel that taking good precautions will be enough protection.  Here's what I do to protect information.

• Shred any papers that may have PII.  Bank statements, brokerage statement, pre qualification letters  with QR codes, 1099s, copies of tax returns,  W-2s and cancelled checks.
• Don't share SSN at doctor's or dentist's offices.   It is not required and you can choose to leave it blank.   In fact, you can decline sharing SSN for many applications.
• Do not send PII over e-mail.  It is not secure.
• Only use secure electronic systems to send personally identifiable information to appropriate organizations.
• Cut up expired credit cars and membership cards.
• Do not give information over the phone to unknown callers that claim to be bank, credit card, IRS, Social Security or Medicare representatives.  Call back a confirmed number, from internet or mail, to verify unknown callers.
• Check credit card statements and bank statements for unknown activities.
• Periodically, check information at credit bureaus.

Finally, I usually am on the side of being cautious rather than assume the situation is safe.  Better to not give out or shred the information than have it obtained by unscrupulous people.

For more on The Practice of Personal Finance , check back every Wednesday  for a new segment.

This is not financial advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC