This is an interesting and helpful post, Ed. Usually, when economics is discussed, my eyelids suddenly become very heavy. But this was good. I guess the only thing that gave me pause was saying that everyone in the top 40 percent should be taxed more. I am retired now, but before retirement I was a professor of philosophy and humanities, and you know how lavishly they are paid. So, I was within the top 40 percent. Now, I would have been happy to pay as much in taxes as they do in Denmark and Norway If I could have gotten what they get. What bugged me was that we have to pay as much as we do and often what we get is meager and given grudgingly. Case in point: A member of my family was diagnosed with a rare and debilitating disease. She applied for Social Security and, though she supplied copious medical evidence, the application was denied. She appealed to a judge who found in her favor, but Social Security still refused her, and they appealed to their headquarters in D.C. Finally, after much red tape and foot dragging, Social Security payments (which were pretty small) were approved. Clearly, Social Security hoped that they could delay long enough that she would die before they had to pay anything. I am glad she disappointed them. Crummy bastards.
Choosing a mutual fund company with a good track record and following their basic advice without getting fancy generally works. Yes, they'll steer you only to their funds, but you chose them because you trust them. Read their prospecti and look them up on Morningstar. And whenever you start thinking, hey, this looks like a great sector fund for a bet, go for a walk.
This is an interesting and helpful post, Ed. Usually, when economics is discussed, my eyelids suddenly become very heavy. But this was good. I guess the only thing that gave me pause was saying that everyone in the top 40 percent should be taxed more. I am retired now, but before retirement I was a professor of philosophy and humanities, and you know how lavishly they are paid. So, I was within the top 40 percent. Now, I would have been happy to pay as much in taxes as they do in Denmark and Norway If I could have gotten what they get. What bugged me was that we have to pay as much as we do and often what we get is meager and given grudgingly. Case in point: A member of my family was diagnosed with a rare and debilitating disease. She applied for Social Security and, though she supplied copious medical evidence, the application was denied. She appealed to a judge who found in her favor, but Social Security still refused her, and they appealed to their headquarters in D.C. Finally, after much red tape and foot dragging, Social Security payments (which were pretty small) were approved. Clearly, Social Security hoped that they could delay long enough that she would die before they had to pay anything. I am glad she disappointed them. Crummy bastards.
All prudent and sound advice!
Choosing a mutual fund company with a good track record and following their basic advice without getting fancy generally works. Yes, they'll steer you only to their funds, but you chose them because you trust them. Read their prospecti and look them up on Morningstar. And whenever you start thinking, hey, this looks like a great sector fund for a bet, go for a walk.