Getting it Right - Welcome

The goal of this blog is to publish my thoughts on a variety of economic and political topics in the hopes that people who find them educational or beneficial will utilize them and/or forward to others who might find them interesting and/or worthwhile to promote to others, possibly including politicians who can push some of these ideas to fruition. The topics in my blog are meant to be of value on a long term basis, not a daily diary or political issue of the day log. If the information posted is useful to you, by all means utilize it and/or forward it as you see fit. If not useful, then merely ignore it. There are no universally agreed upon truisms and too little tolerance between some of those with opposing viewpoints to successfully convince the people with hardened opinions to move away from them. I am an analytical type person who will try to be as factual as I am able.

I disdain the current popularity of name calling and condemnation of viewpoints with no factual alternatives or logical solutions given that I see so often. If you don't have a solution based on fact and logic, then opt out of the discussion because you have nothing to contribute. My background is a degree in Economics from the University of Michigan and 39 years working in middle management jobs for a major retailer. My opinions are forged on the personal experence of life, family, friends, and work as well as triumphs and mistakes that I have made and hopefully learned from. My hope is that this blog helps you.

My first topic will be about personal finance. I chose that one first because most of us work long and hard just to survive but not all of us realize our dreams of becoming financially independent from the labors of our work. Much of our political votes/thinking also focus on the economy and in particular how well we are personally doing financially.

It is relatively simple, without sacrificing the enjoyment of living for 'today' and even at moderate incomes, to retire as a millionaire or multi-millionaire, if you focus on that goal consistently from a young age. It is also simple to ensure that your child or grandchild retires rich. It merely requires a one time gift of just $2,000 invested wisely and the passage of time. Please read my first post on this blog to learn more.


An index/schedule of past and future posts and their dates will always be updated so that it becomes the first post that you see below. If the date of a post that you wish to read is preceded by the word "Posted", then find it below or click on the title in the Blog archive to review.

Blog Archive

Monday, March 27, 2017

Medical Marijuana Needs to be Legalized Everywhere

People are needlessly dying because medical marijuana is not allowed in many states. Medical marijuana consisting of "CBDs" is an ingredient that does not get you high (the "THC" ingredient in large volume gets you high). CBDs have helped many people, including cancer patients. We allow morphine in all 50 states for extreme pain management despite the fact that it comes from the same plant that the illegal and dangerous drug that heroin comes from. We need to treat the medically beneficial part of marijuana the same way and therefore legalize it. There's no harm done nor “high” obtained from true medical marijuana. All cancer, and especially terminal cancer patients, should be given the opportunity to possibly save their lives through its usage. Why would you condemn them to possibly needless suffering and/or death.


Saturday, March 18, 2017

Usage and Morality of the Atom Bomb In World War Two

72 Years after WWII ended, it still surprises me that the issue of whether or not America should have used the atom bomb on Japan in WWII is still debated. Any fair analysis of that decision needs to be based on what was known in 1945 about the war and about nuclear bombs. Much was known about the war; little was known about the bombs. It was clear through each conflict in the Pacific, that Japan, no matter how hopeless the military situation, would fight to the last man; surrender was not an option. Even the civil population would either fight or commit suicide, rather than surrender to the enemy. Kamikaze (suicide) attacks on ships using planes, human rocket bombs, and human submarine bombs were employed, rather than surrender. The civilian population in mainland Japan was being trained to fight however they could alongside the Japanese Army the expected American invasion. They were expected and willing to fight for their emperor to the death. American generals estimated 500,000 to 1,000,000 American deaths in the invasion of mainland Japan. The number of Japanese dead was expected to number several million. The number of kamikaze planes and submarines found after Japan’s surrender indicate that these forecasts were probably quite accurate.

What’s little known or talked about is that both Japan and Germany were working on developing atom bombs and both planned to use them against the Allies. Japan had two facilities working on atom bombs, one in Japan and one in Asia. As the Allied victories placed them closer to Japan, the Japanese attempted to accelerate their atom bomb program with the intent of using them on the allied invasion forces.

When it became clear to Japan that they were unlikely to develop a functional atom bomb in time, they planned to develop and utilize a ‘dirty’ conventional bomb with radioactive material and explode it in San Francisco, hoping to kill thousands of Americans. They made elaborate plans. Japan asked Germany for and was sent 1,000 pounds of uranium by submarine. Fortunately, the war with Germany ended in May, 1945 while that sub carrying the uranium to Japan was still in the Atlantic Ocean and was surrendered to American forces. Japan had the two largest submarines ever made at the time, capable of carrying three small planes safely underwater and launching them at the surface wherever they pleased. The date had been set to drop the dirty bombs on San Francisco. It was August 17, 1945. Note that this planned date is only a few days after America actually dropped atom bombs on Japan (August 6 and 9, 1945). There was also a plan by Japan to drop carefully constructed bubonic plague bombs on our West Coast cities in September, 1945.

So when America captured the sub with the uranium in May, 1945, we knew then that Japan was working on an atom bomb. We did not know if they had or were close to a working model and we did not know if earlier shipments of uranium had been shipped to and received by Japan. Such news had to be alarming to America and its WWII allies. If Japan had or developed such a bomb, there is no doubt that it would have been used. Even if Japan was not close to a working model, a conventional war with Japan would have bought the Japanese much more time to successfully develop and use such a bomb.

Even after we used the two atom bombs against Japan, the Japanese military leaders tried to convince their emperor not to surrender. It was their (accurate) opinion that America had no more atom bombs to use. When the emperor made the decision to surrender, some of the military leaders unsuccessfully tried a military coup to dispose the emperor and prevent Japan’s surrender. These actions show the tenacity of the no surrender attitude of Japan and its people and therefore further validate the forecasts of millions of casualties in a conventional invasion of the mainland.

When you look at the man (President Truman) who made the decision to drop the atom bomb against what was known about the war and the Japanese at that time, it is hard to dispute how he could have come to any other decision. The decision actually saved millions of lives on both sides of the conflict. We killed as many people (100,000) in one night of conventional bombing of Tokyo as did a single atom bomb. The atom bomb was more effective in ending the war and ultimately saving lives.

Finally, look what America and President Truman did after the war. We did not respond like some vengeful monster. Despite hundreds of billions of dollars of crippling war debt, America rebuilt the economies of Japan and Germany by taking on additional debt of many billions of dollars. We also established democracies in those nations that still flourish today. We took no land. We took no reparations. Those nations are free and independent. They are also our allies today, not because they had to (they were not forced), but because they wanted to be our allies.


All war is horrible. The dead and the wounded of that war, whether by conventional arms or nuclear arms were not any less dead or less wounded. If we had not used the bomb, Japan would have. All nations today are more knowledgeable of the dangers and consequences of nuclear war, particularly on the incredible expansion in number and size of today’s weapons. The situation is much different today then it was then. Unfortunately, it hasn’t been enough of a learning curve to avoid war altogether. Hopefully, it is enough to avoid nuclear war which today could easily wipe out humanity.

Student Loans

The very ease of getting a student loan plus the financial ignorance of the students have been exploited by colleges to raise tuition, plus room and board, much faster than inflation and also to expand their Administrative staffs to bloated levels while paying ridiculous salaries to "star" professors. Given that over half of college students never graduate, no student should get a college loan for the first two years. Let them go to cheap Community colleges instead (and work part time if they need to). If they don't drop out after qualifying for their junior year, then consider college loans, but put a cap on it of no more than $15,000 a year. Also, no loan unless the college the student plans to transfer to, accepts all the student's college earned credits to be transferred (otherwise, expensive colleges will deliberately reject many of the credits forcing the financially naive student to spend more time and money at the college he/she transferred to). Some Community colleges have expanded from two years to four years. Encourage more to do so. That way, many more students could graduate inexpensive colleges without the need for student loans. Now, with less demand for their services, the expensive colleges will be forced to compete for students by lowering costs to reasonable levels and also utilizing alumni donations to help students instead of constructing new buildings and monuments to themselves. Everyone benefits.

Invest in Roth IRAs, not Traditional IRAs, plus use Roth Conversions

Always start off investing with Roth IRAs from day one, never a Traditional IRA, if you qualify. It is better to pay a little tax upfront, then pay a lot of taxes decades later when you begin (and/or are required) to withdraw from your IRA (even if your future tax bracket is lower) when your investment has likely multiplied in value several times (using long term stock market averages, a $1,000 IRA investment in your 20s can grow on average to over $60,000 in your 60s – better to pay the federal income tax on $1,000 now than on over $60,000 later) . Roth IRAs held over 5 years are NOT taxed at withdrawal, and are not forced to be withdrawn, thus saving not only you but also your heirs lots of taxes too.

If your income is too high that the government will not allow you to take out a Roth IRA, there is a work around method. Take out the Traditional IRA. Next convert it to a Roth IRA and pay the taxes that you would have paid anyway if you were able to take out a Roth IRA in the first place. There is no limit on the number nor amounts of Roth Conversions. Why does the government allow this? No one ever accused our government of being smart.

Educate your heirs if you are leaving them a Traditional IRA not to withdraw all of it in a single year, but instead convert the entire amount to an inherited IRA. Otherwise, up to 50% or more of their inheritance may be lost in Federal and State income taxes. If they are under 59 ½, then another 10% tax is charged. For really high inheritances, the Estate tax could push that to 80% or more. A Roth IRA held 5 years or more avoids these tax issues. A Traditional 401K can also be converted to a Roth IRA (usually after your retire or leave the company). This is one time you may want to discuss with a good, tax knowledgeable financial adviser. Like most government programs, there are plenty of “rules” and mistakes can be very costly and irreversible.

For people with Traditional IRAs, there are two options to reduce Federal income taxes through a Roth Conversion. The biggest tax break would to become a General Partner for one year, then reduced to a limited Partner, using non-IRA money, in a new oil or gas well project (you can do that for as little as $20,000). You get to reduce your taxable income by 80 to 100% of the investment principal. Personally, I don't like the risk of that option (look at how much the price of a barrel of oil has changed in just a year's time recently and in the past). Also, though the chances are remote, when you are a General Partner, you could be sued for everything that you are worth (most partnerships of this type carry lots of insurance to prepare for this relatively rare possibility)


A more conservative option is to invest in income producing non-liquid assets (non-liquid for 2-8 years) within a Traditional IRA. A few months later, move it to a Roth IRA and get a “forecast market valuation” of its worth at the time of the Roth Conversion. To make it worthwhile, you need to convert in $100,000 minimum chunks each year, but don't do so much as to raise yourself to the maximum tax bracket ( or if on Medicare, exceed the maximum annual income limits which could double your Medicare premiums the following year. You will need a certified Financial Planner (not a stock broker) to help you. They are generally affiliated with either Madison Avenue Securities or VFG Securities.

Never let Politics Determine your Family and Friends

Politically, like almost all other nations, the US is a very divided nation. There are virtually no extended families out there that are either all Republicans or all Democrats or all Independents. However, one issue all sides strongly agree on is that the US is a nation of freedom and we want to keep it that way. Therefore, when you think about it logically, if you are cutting ties with family members or friends because you do not like their political views, then you are a wannabe dictator - the anti-thesis of freedom. You cannot logically believe in freedom for all and at the same time sever your ties with family members or friends who do not agree with your own political viewpoints. Learn to recognize and accept the fact that none of us are always right nor always wrong. That is an undeniable characteristic of all humans. Those who disagree with our own political views are not evil and do have what they consider good reasons for their viewpoints. Normally, there is some truth on both sides of any political issue, no matter how passionately we feel that only our viewpoint is the only correct viewpoint. People are a lot more than their politics. They earn livings, make sacrifices for others, love family unconditionally, contribute to charity, try to live a good moral life, help others when needed, have triumphs and disappointments, etc. See the whole person, not just their politics.

How does US Health Care Compare to other Nations?

An "Investor's Business Daily" article a few years ago (prior to Obamacare) provided very interesting statistics from a survey by the United Nations International Health Organization.
Percentage of men and women who survived a cancer five years after diagnosis:
U.S. 65%
England 46%
Canada 42%
Percentage of patients diagnosed with diabetes who received treatment within six months:
U.S. 93%
England 15%
Canada 43%
Percentage of seniors needing hip replacement who received it within six months:
U.S. 90%
England 15%
Canada 43%
Percentage referred to a medical specialist who see one within one month:
U.S. 77%
England 40%
Canada 43%
Number of MRI scanners (a prime diagnostic tool) per million:
U.S. 71%
England 14%
Canada 18%

Not sure why percentages were used. The latest comparison to all nations can be found in thhe following link - https://www.statista.com/statistics/282401/density-of-magnetic-resonance-imaging-units-by-country/ Note that England and Canada are so low that they are not listed in the top 15.
Percentage of seniors (65+), with low income, who say they are in "excellent health:
U.S. 12%
England 2%
Canada 6%
And now for the last health statistic:
National Health Insurance:

U.S. NO (this comparison was done prior to Obamacare).
England YES
Canada YES