Voices [0:00]

A foolish consistency is the hobgoblin of little mind. Adored by little statesmen and philosophers and divines. If a man does not keep pace with his companions, perhaps it is because he hears a different drummer. A different drummer.

Mostly Queen Mary [0:18]

And now, coming to you from Dead Center on your dial, welcome to Risk Parity Radio, where we explore alternatives and asset allocations for the do-it-yourself investor. Broadcasting to you now from the comfort of his easy chair, here is your host, Frank Vasquez.

Mostly Uncle Frank [0:36]

Thank you, Mary, and welcome to Risk Parity Radio. If you are new here and wonder what we are talking about, you may wish to go back and listen to some of the foundational episodes for this program.

Voices [0:49]

Yeah, baby, yeah!

Mostly Uncle Frank [0:51]

And the basic foundational episodes are episodes 1, 3, 5, 7, and 9. Some of our listeners, including Karen and Chris, have identified additional episodes that you may consider foundational. And those are episodes 12, 14, 16, 19, 21, 56, 82, and 184. And you probably should check those out too, because we have the finest podcast audience available.

Voices [1:26]

Top drawer. Really top drawer.

Mostly Uncle Frank [1:30]

Along with a host named after a hot dog.

Voices [1:34]

Lighten up Francis.

Mostly Uncle Frank [1:38]

But now onward, episode 467. Today on Risk Party Radio, it's time for our weekly portfolio reviews. Of the eight sample portfolios, you can find at www.riskparty radio.com on the portfolios page. BOARING! Yeah, there was a lot of activity, but it was pretty boring. The bees did come to visit, though, at least the uh large cap growth and Nasdaq 100 type stocks. But before we get stung by that.

Voices [2:11]

I'm intrigued by this. How you say emails.

Mostly Uncle Frank [2:16]

And First off. First off, we have an email from Camille. And Camille writes?

Mostly Queen Mary [2:34]

Hi, Frank and Mary. Hope you're doing well. I've written in a couple times in the past and still have some burning questions. Fire, fire, fire, fire. I've also attached a receipt of my donation to the Father McKenna Center. Number one, I'm 40 years old and am supposed to be reaching financial independence in the next year, given the stock market doesn't crash and burn. And it's gone. I was very late to investing on my financial independence journey. I saved mostly and then invested a few years ago. Honestly, most of it in early 2024, and now I'm trying to rebalance. Most of my portfolio is in a taxable brokerage account. I will convert my 403B into an IRA when I quit my job. Currently, my 403B is invested in mostly large cap growth, and I have very few bonds in my entire portfolio. I know that the advice is to put bonds and managed futures in my tax advantage accounts, so I was initially going to put almost all of my 403B into VGLT and DBMF, as that will fulfill my golden ratio style portfolio that I'm looking to achieve. I'm looking to allocate about 23% to bonds, which is roughly how much I have in my 403B account out of my total portfolio. However, I started thinking, I know bonds are not for growth, but for stability. But if I cannot withdraw from my RRA account for another 20 years, why should I keep it all in bonds when I could put it in equities and have more growth over 20 years? I understand this wouldn't be good if I was planning to withdraw from this account soon, but since I literally cannot withdraw from the account in the next 20 years, and then the stock market shouldn't be having negative returns on average over 20 years, wouldn't it make more sense to let it grow closer to a 7-10% annual return than 3-4%? And then maybe when I'm closer to accessing the account, say in 15 years, convert the equities to bonds. I understand this is kind of a reverse glide path advice, but just due to my situation where my IRA accounts would be all bonds and not accessible for the next 20 years, does this make sense for me?

Voices [4:42]

Not gonna do it. Wouldn't be prudent at this juncture.

Mostly Queen Mary [4:45]

Number two, if I don't have enough room, percentage allocation to put managed futures in my IRA, where should I put it? My taxable brokerage? Number three, once I reach financial independence, how do I rebalance my portfolio when I can't really withdraw from my IRA account for 20 years? If my IRA account is all bonds and say they go up a lot one year and equities are down, how do I sell bonds and use the cash for my living expenses? Number four, this is basic, but can you name drop a money market account at IBKR for me to invest in? Right now my cash is in a high yield savings account. I would like to transfer everything to IBKR. My understanding is that my cash that I have deposited at IBKR is not earning any interest. If I sell some stocks at IBKR, then the profits from those stocks will go into a money market account and earn interest. I am not sure if I'm getting that right or not, but basically I need a money market account to store my cash and don't know where or how to get it. Number five, I might be pushing it, but I wonder if you can connect me with a Canadian, maybe your Quebecois friend, parce que vive le Quebec, puis je me souviens, who could give me some advice on what I should do with a mutual fund RSP account that has been sitting in TD Bank in Canada for the last 15 years. That's not an improvement. All of my other investments are in the US. I have about $50,000 in this RSP account. It's like an IRA account in the US. I think it is incurring high fees. I can't access it till I'm 71 years old, unless I want to pay a 30% withholding tax. I don't know what to do with it, but I don't think it's being very efficient there either. Thanks for all you do, Camille.

Voices [6:37]

Good day, how's it going? I'm Bob McKenzie, it's my brother Doug. How's it going? We got two topics today back bacon and long underwear.

Mostly Uncle Frank [6:45]

Well, Camille, thank you for writing in again. And thank you for being a donor to the Father McKenna Center. As most of you know, we do not have any sponsors on this program. We do have a charity we support, it's called the Father McKenna Center, and it supports hungry and homeless people in Washington, D.C. Full disclosure, I am in the board of the charity and the current treasurer. But if you give to the charity, you get to go to the front of the email line, as Camille has done here, and actually our other emailer today has done as well.

Voices [7:12]

The best Jerry, the best.

Mostly Uncle Frank [7:14]

There are two ways to do that. Either you can go directly to the donation page at the Father McKenna website and donate there, or you can become a patron on Patreon and give monthly. To do that, go to our support page at www.riskparty.com and follow the links there. Either way, you get to go to the front of the email line, but please do mention it in your email so I can duly move you to the front of the line. But now let's get to your questions. All five of them. What's the answer? What's the answer what's the answer? Okay, your first one was wondering about accessing your IRA, and I think you're under the misimpression that there's no way to access it prior to age 59 and a half. That is actually not true.

Voices [8:00]

That's not how it works.

Mostly Uncle Frank [8:02]

There are a number of ways to access traditional IRAs without paying penalties before age 59 and a half.

Voices [8:10]

That is the straight stuff, O Funkmaster.

Mostly Uncle Frank [8:13]

Probably the most convenient one these days is going to be what is called 72T or SEP SEPP. Substantially equal periodic payments, but you can set that up so that you can withdraw from it using that. Now, rather than me trying to explain that here, it would be better for me to direct you to an expert in taxes.

Voices [8:39]

It's not that I'm lazy, it's that I just don't care.

Mostly Uncle Frank [8:43]

And the best place to go for that is to go to Sean Mullaney's website, which is the Fi Tax Guy. I will link to that in the show notes where he explained some of that there. And you should also get a book called Tax Planning in Early Retirement. I'll link to that in the show notes too. That's written by Sean Mullaney and Cody Garrett and explains a lot of these methods. And I think given you are going to be an early retiree, I would definitely go get that book because there's a lot of information besides this in there that you'll want to have at your fingertips. Sean Mullaney was just on a number of podcasts, but I just heard him recently on the White Coat Investor where he talked about some of the options for some of this stuff. But rest assured, you can get access to your traditional IRA before age 59 and a half. Now there's another way to access it without really accessing it, and it's called an asset swap. And thankfully, our good friend Justin from Risk Parity Chronicles has made a nice little video on how to do an asset swap. I just stare at my desk, but it looks like I'm working. But basically, it works something like this. Suppose you have all of your bonds in the traditional IRA, and you have all of your stocks in a taxable brokerage account, and you want to actually sell bonds for a distribution. What you would do is sell the amount of stocks in your taxable brokerage account for the distribution, and then you would go over to your IRA and sell an equal amount of bonds in the IRA and rebuy the stocks in the IRA. So overall, your stock allocation would not have changed because you're just selling it in one account and buying it in another account, whereas your allocation to bonds would have decreased, but you have not moved money out of the IRA. And so there's no tax consequence to a move like that. And that is actually the easiest way to access money that is behind a IRA wall, if you will, without actually having to take it out. But that is explained in the video that I will also link to in the show notes. It's called an asset swap.

Voices [10:52]

Yes!

Mostly Uncle Frank [10:53]

There are additional ways to access IRAs early, but I'm not going to describe them here because I think those two may work for you in this circumstance without having to start talking about Roth conversion ladders and things like that. If you're interested in all those things, there are a lot of articles at that Phi tax guy site which would explain a lot more of these options. And I think that answers your first question.

Voices [11:19]

Looks like you've been missing a lot of work lately. I wouldn't say I've been missing it, Bob.

Mostly Uncle Frank [11:24]

Your second question is where to put your managed futures? And yes, if there's not enough room in the IRA, you might just put them in your taxable brokerage account. Or you might put some of the bonds in your taxable brokerage account. You will find that they pay similar amounts of ordinary income each year. So it's kind of six of one and half a dozen the other. It might be most convenient just to have some of each of the bonds and the managed futures in the taxable account, either for tax loss harvesting in the future or as an easy place to just sell them if you ever wanted to sell them. But yes, when you run out of room in a traditional IRA for your ordinary income payers, then you do move them usually to the taxable brokerage account, sometimes to a Roth IRA if you have a lot of room in one of those. But it does not appear that you do. Question three, once you reach Phi, how do you rebalance your portfolio and you can't really withdraw from your IRA account for 20 years? If your IRA account is all in bonds and they go up a lot one year and equities are down, how do I sell some bonds and use the cash for my living expenses? Well, I think I already answered that question, which is to use the asset swap technique that I described and that I will link to with a video.

Voices [12:40]

I'd say in a given week, I probably only do about 15 minutes of real actual work.

Mostly Uncle Frank [12:47]

So just because you start with all bonds in your IRA doesn't mean you're necessarily going to end up with those, although you probably will, but there may be circumstances where you are selling your bonds and buying stocks in the IRA. All right, question four. You're asking about a money market account at Interactive Brokers. Well, Interactive Brokers has some peculiar rules for cash in the brokerage account. And I would consult an AI like ChatGPT or look at the information on the website. But essentially, if you don't have at least $10,000 in there, you're probably not going to get a very good interest rate. So it does depend on how much money you have sitting in the money market account. Now, if you don't have $10,000 in there, there are a couple ways around that. First, you could just buy an ultra-short-term bond ETF that holds zero to three month T-bills or other kinds of paper. The most popular ones of those are SGOV, BIL, and JPST. I will link to the ETF database listing a whole bunch of those if you're interested in those and you can see the interest rates that are offered, but those are all short-term paper that is similar to a money market fund. You could just use the HYSA where you are currently having that cash, depending on how much it is. Or you could have another brokerage account, which might be annoying, but if you used Vanguard or Fidelity, they will automatically sweep into a competitive money market fund, even if you only have a dollar in there. I am guessing that once you're in retirement, you probably will have more than $10,000 in cash, and so leaving it at IBKR Interactive Brokers is probably going to work out fine. But do check out their rules, they're kind of odd on this. Now, if you have an extremely large amount of cash or you're in a high tax bracket, you would also consider using something like the ETF BOXX, which mimics short-term T bills, but is actually a tax efficient fund for holding short-term money. And we have talked about that before, so you might search for that in the podcast notes at the website or the podcast page at the website, BOXX, if you want to know more about that. I'm not sure it's going to apply to you because this is really for somebody that's in the highest tax brackets. And your last question, number five, what to do about a dormant RSP account in Canada at TD Bank. And I certainly cannot answer that question. I do not know the rules for RSPs. I do understand that they are stricter than for IRAs in the US. But I will put that out there for one of our Canadian friends who doesn't mind being connected with you. I'll see if our friend Luke wants to do that and knows the answer to this question. But I'm sure somebody will raise their hand and then I will connect you.

Voices [15:58]

We have top men working on it right now. Who?

Mostly Uncle Frank [16:06]

Top men. But we don't need to be providing your emails to the general public.

Voices [16:15]

You need somebody watching your back at all times.

Mostly Uncle Frank [16:19]

And that's the best I can do for that question.

Voices [16:22]

Are you stupid or something?

Mostly Uncle Frank [16:25]

But congratulations on your imminent financial independence. I would sit down at this time and study some materials on the things I discussed here. And Sean Mullaney is fairly prolific and has a number of YouTube videos that are very instructional about tax issues involving retirement accounts and how to get money out of them early. So if you also search him over at YouTube, you're going to find a lot more things other than the ones that I referenced and will link to in the show notes. And you should spend some time studying those things because you have a lot more options than you think. And uh I'll go ahead and make sure you get another copy of that memo. Okay. Hopefully that helps. Thank you for being a donor to the Father McKenna Center. And thank you for your email. And we just have time for one more email today. And so last off. Last off, we have an email from Jeff.

Voices [17:34]

Mr Spicoli, it's name the game.

Mostly Uncle Frank [17:38]

And Jeff Wrights.

Mostly Queen Mary [17:40]

Dear brother Frank and Sister Mary, I was glad to get a match from my company on my recent gift to the Father McKenna Center.

Voices [17:47]

Yeah, baby, yeah!

Mostly Queen Mary [17:49]

I feel like a less wise older brother who is thankful every day for the hope you give us through this hobby of yours.

Voices [17:55]

You are talking about the nonsensical ravings of a lunatic mind.

Mostly Queen Mary [18:00]

I'm close to retirement and I need someone to watch my back as I truly don't feel oversaved.

Voices [18:06]

You need somebody watching your back at all times!

Mostly Queen Mary [18:10]

But maybe I'm in a good place after all. I'll start collecting Social Security next year at 65 and don't really want another job. So are you gonna get another job?

Voices [18:20]

I don't think I'd like another job.

Mostly Queen Mary [18:22]

We believe our spending budget, less housing costs, will do well with Social Security and some pension payments. The cost of living adjustments on those income streams should keep us comfortable.

Voices [18:32]

Winner winner dinner.

Mostly Queen Mary [18:37]

We have three funds that we want to essentially fund our new mortgage and housing costs we need to carry into retirement. About $400,000 in a Vanguard IRA and Roth that are set to risk parity allocation now. About $90,000 in a Fidelity 401k that is now 95% in BTC LP IDX 2030H, and future deposits until retirement are dollar cost averaging every two weeks into the 5% that is in BTC LP IDX 2040H. With your help, we feel like maybe we've won the game and can stop playing.

Voices [19:12]

You are correct, sir. Yes!

Mostly Queen Mary [19:14]

About $100,000 in an AUM IRA where my milkshake is shared.

Voices [19:20]

I drink your milkshake.

Mostly Queen Mary [19:26]

I drink it up. Question one. Does it make sense to move all to the Vanguard IRAs at retirement, or is there an advantage to open an IRA at Fidelity also? I am planning on moving the AUM IRA soon. I have some Roth, about $70,000 between Vanguard and Fidelity, but most is just pretext 401k IRA. I also have a small HSA at Fidelity. Question two. My main portfolio is 23% VUG, 23% AVUV, 5% IDMO, 5% AVDV, 13% VGLT, 13% VGIT, 8% GLDM, 8% DBMF, 2% VMFXX. Since I started the allocations, I've added a bit of the developed cash to AVUV and GLDM as they declined a bit. I have cash lower as we have a good reserve amount and a high yield savings, 3.9%, through our bank. Does that mix make sense for the long run? Should I make a couple small changes before retirement or with the incoming funds? Question 3. My withdrawal plan is to take 5% of the roughly $600,000 on a monthly or quarterly basis from the best performers to do annual rebalancing and to adjust for just 1% inflation to cover increases in house taxes and insurance. My feeling is that will keep us in a safe withdrawal rate for 30 plus years. Am I correct, sir?

Voices [21:01]

You are correct, sir!

Mostly Queen Mary [21:05]

Question 4. Help me again. What is a good, simple rule of thumb, because I am not a smart man, on when to increase the withdrawal rate?

Voices [21:14]

I'm not a smart man.

Mostly Queen Mary [21:17]

Or when to hold back for a year or so on the 1% inflation increase, or even dig deeper in a tough drawdown. In the end, if things are good, we'd like to take a few extra trips and increase gifts to our family and charities. Thank you, Mary, for the long email. Your grateful and hopeful older brother.

Voices [21:36]

Mary, Mary, I need you hugging.

Mostly Uncle Frank [21:45]

Well, thank you also for being a donor to the Father McKenna Center, Jeff. And thank you for getting that match from your company. We are an official 501c3 charity. And so if you do go to the donation page at the Father McKenna website, there is information about asking your company for a match or donating stock or donating out of a donor advice fund. There are many ways to donate. So please do take advantage of them and thank you for applying to your company to get a match. Okay, you have an interesting situation here before we get to your questions. It looks to me like your main living expenses are covered by Social Security and a pension, and what you are using this portfolio for is to cover a mortgage and associated housing costs. And I'm assuming that your distributions are going to be in excess of those costs so that they actually cover them, and you may have some flexibility on the top end of it. And so with that in mind, going to these questions, you asked whether it makes sense to move all the money to Vanguard at retirement. And the answer is probably, although I'm not sure I would use Vanguard simply because the customer service over at Fidelity is much better. And if you are near a brick and mortar outlet of Fidelity, it is sometimes convenient if you really have a problem just to go in there and talk to somebody directly, which you're not going to be able to do at Vanguard. But you could also consolidate things at Vanguard if you prefer that. Or just leave them in more than one place, which is more complicated, but it's not really that big a deal. Because it's not like you're going to be in there trading every day or something like that. I am not sure you can move an HSA at Fidelity to Vanguard, though, so that might be another consideration as to where you consolidate. Okay, you did lay out a portfolio that is 56% in stocks divided into growth and value, 26% in intermediate and long-term treasury bonds, 16% in alternatives, and 2% in a money market in your question two.

Voices [23:55]

I'm sorry, but all questions must be submitted in writing.

Mostly Uncle Frank [23:58]

And does that mix make sense? Yes, that mix makes sense if you were trying to maximize a safe withdrawal rate because it hits all of the main guidelines for that, namely to have somewhere between 40 something and 70 something percent in stocks divided into growth and value, which you have, between 15 and 30% in intermediate and long-term treasury bonds, which you have, between 10 and 25% in alternative assets, such as gold and managed futures, which you have, and then having less than 10% in cash, and you say you have a cash reserve elsewhere anyway. So all that makes sense to me, and is likely to give you a portfolio with a high safe withdrawal rate. Alright, question three. Your plan is to take 5%, take it out monthly or quarterly from the best performers and do rebalancing and to adjust for just 1% inflation to cover increases in taxes and insurance. And you're asking whether that will cover a safe withdrawal rate in the range of 30 plus years. And the answer is yes, it should work pretty well. Yes, Cat, now I should be ruler of the world. The kind of portfolio you have really has close to a 6% safe withdrawal rate since 1970, and more like 5% since 1930, if you include the Great Depression and the last part of the 1960s. But that would assume you were taking CPI-based inflation. If you are taking 1% inflation, that's about 2% less than the CPI, which is essentially going to effectively add another percent to your safe withdrawal rate. So you probably have a safe withdrawal rate of more like 6% with that kind of inflation adjustment. So I think you should do just fine with this. And in fact, it is most likely to continue growing, even with the 5% withdrawals. Alright, question four. What's a good simple rule of thumb for when to increase the withdrawal rate? Well, there are a number of rules that you could follow here, and I will link to the retirement spending calculator at portfolio charts. Not so much for the calculator, although you can play around with that, but there are descriptions of three common methods. One is called the Bangin floor and ceiling, one is called the Kitsis Ratchet, and one is called Giten Klinger. And variations of those will be fine if you're interested in increasing withdrawals. Usually you wait until it goes up like 10% in value or 20% in value before you start doing that. But there are variations on that theme that you can follow there. In terms of worrying about big drawdowns and reducing your withdrawals, I doubt you'll ever have to do that with your setup here, particularly since you're only using that 1% inflation rate. So I probably would not worry about that. It would have to be something on the order of a 30% drop in the portfolio in one year, which you probably will never experience, since that portfolio is only likely to see about a 20% drop in any one year.

Voices [27:02]

That's the fact, Jack! That's a fact, Jack!

Mostly Uncle Frank [27:06]

And you might also consider just holding back whatever the difference is between the mandatory expenses pertaining to the house and 5%, because I assume that there is some wiggle room or some leeway between the actual cost you're gonna have to pay and the 5% total. But I think all that's gonna become pretty clear within the first year or two of managing this situation, because you'll see what the results are. But you might also use that overage for home repairs or home improvements or other things related to the house. That's just personal preference there. But I think what you want to really appreciate is the difference between theory and practice.

Voices [27:47]

Yogi Berra said that in theory there's no difference between theory and practice, but in practice there is.

Mostly Uncle Frank [27:54]

Because a lot of these rules that I just mentioned are rules set up in theory, but don't necessarily make that much sense for the way you actually live. And my experience of being in retirement is you just spend what you need to spend if as long as it's within reason and sort of generally within the ballpark, and then you make adjustments as you go. Assuming you have a reasonable plan to begin with, I would not say you should use some rule of thumb to prevent you from spending, even if you might exceed some theoretical limit for one year in particular, like say you build some kind of addition or deck or patio or something, and that costs more than you would ordinarily budget for the year. If it's just a one-off thing and it can essentially be recovered by spending less in future years, that's perfectly acceptable. And that is a more sane way to live than adhering rigidly to some rule that you made up that may not be serving you as well. So bear that in mind as you go forward. I think one of the most important things you can do in retirement is track your actual spending and allocate that into mandatory spending and discretionary spending because that will give you a better idea as to how flexible you can be with particular expenses. And if you haven't done that already, I would sit down and look at your expenses for the past couple of years and do the exercise of figuring out what they were, and then how much of that was mandatory and how much of that was discretionary. You might also go back and listen to episodes 334, 338, and 341, which talks about the way we do our planning with what we call a 311 plan. If you haven't heard that already.

Voices [30:00]

Today, near the first floor bathrooms. Is he still on campus? Anyone? Yes, Desmond? Some by the food machines. How long ago? Right before class. Okay. Bring him in.

Mostly Uncle Frank [30:14]

Thank you for being a donor to the Father McKenna Center.

Voices [30:18]

Oh no.

Mostly Uncle Frank [30:20]

And thank you for your email. And now for something completely different.

Voices [30:27]

What is it? What is that? What is it? Not the bees.

Mostly Uncle Frank [30:36]

Well, yes, the bees did descend upon the stock markets last week. Although it was not too bad for most of our portfolios here. But just looking at those markets, the SP 500 represented by VOO is now up 13.52% for the year. The NASDAQ 100, represented by QQQ, is up 15.85% for the year. Small cap value represented by the fund VIOV is up 0.80% for the year. Gold continues to shine.

Voices [31:05]

I love gold.

Mostly Uncle Frank [31:09]

Representative fund GLDM is up 54.9% for the year. Long-term treasuries represented by the fund VGLT are up 6.8%. REITs, represented by the fund REET, are up 7.2%. Commodities represented by the fund PDBC are up 3.31% for the year. Preferred shares represented by the fund PFFV are up 1.14% for the year. And managed futures represented by the fund DBMF are up 10.9% for the year. Moving to these portfolios, first one is our reference portfolio, the all seasons. It is only 30% in stocks and a total stock market fund, 55% in intermediate and long-term treasury bonds, and the remaining 15% in gold and commodities. It's down 1.04% for the month of November. It's up 12.11% year to date and up 21.7% since inception in July 2020. Moving to these bread and butter kind of portfolios, first one's Golden Butterfly. This one is 40% in stocks divided into a total stock market fund and a small cap value fund. 40% in treasury bonds divided into long and short, and the remaining 20% in gold. It's down 0.75% for the month of November. It's up 15.65% year to date and up 54.88% since inception in July 2020. Next one's golden ratio. The golden ratio. Yes, that one.

Voices [32:44]

I coalesce the vapor of human experience into a viable and logical comprehension.

Mostly Uncle Frank [32:50]

This one's 42% in stocks divided into a large cap growth fund and a small cap value fund, 26% in long-term treasury bonds, 16% in gold, 10% in managed futures, and 6% in a money market in cash. It's down 1.45% for the month of November. It's up 15.28% year to date, and up 49.81% since inception in July 2020. Next one's the Risk Parity Ultimate, kind of our kitchen sink portfolio. I'm not going to go through all 12 of these funds, but it does have some Bitcoin in it, which is the worst performer this year, or at least since we rebalanced it in July. It's down at 2.04% for the month of November. It's up 14.02% year to date, and up 36.08% since inception in July 2020. Moving to these experimental portfolios.

Voices [33:48]

Pony Stark was able to build this in a cave with a bunch of scraps.

Mostly Uncle Frank [33:55]

Yes, the ones you're not supposed to try at home involving leveraged funds.

Voices [34:00]

You can't handle the gambling problem.

Mostly Uncle Frank [34:04]

First one's the accelerated permanent portfolio. This one's 27.5% in TMF, a levered bond fund. 25% in UPRO, a levered SP 500 fund, 25% in PFFV, a preferred shares fund, and 22.5% in gold, GLDM. It's down 3.39% for the month of November. It's up 18.79% year to date, and up 20.02% since inception in July 2020. Next one's the Aggressive 5050, the most levered and least diversified of these portfolios. It's one-third and a levered stock fund UPRO, one-third and a levered bond fund TMF, and the remaining third divided into a preferred shares fund and an intermediate treasury bond fund as ballast. It's down 5.09% for the month of November. It's up 9.59% year to date and down 3.48% since inception in July 2020. Next one's a levered golden ratio. This one is a year younger than the first six. It's 35% in a composite levered fund called NTSX, that's the SP 500 in Treasury Bonds, levered up 1.5 to 1, 15% in AVDV, which is a International Small Cap Value Fund, 20% in gold, GLDM, 10% in a managed futures fund, KMLM, 10% in TMF, a levered Treasury Bond Fund, and the remaining 10% in UDOW and UTSL, which are levered funds that follow the Dow and a Utilities Index. It's down 1.97% for the month of November. It's up 21.14% year to date and up 15.78% since inception in July 2021. And the last one is our newest one, the Opter Portfolio. One portfolio to rule them all.

Voices [35:54]

Forget about it.

Mostly Uncle Frank [35:56]

This one's 16% in UPRO, a levered SP 500 fund. 24% in AVGV, which is a worldwide value tilted fund. 24% in GOVZ, which is a Treasury Strips fund, and the remaining 36% divided into gold and managed futures. It's down 2.25% for the month of November. It's up 19.94% year to date, and up 23.44% since inception in July 2024. And so that concludes our weekly portfolio reviews.

Voices [36:28]

I'm putting you to sleep.

Mostly Uncle Frank [36:30]

There's been a lot of wailing and gnashing of teeth about whether the AI bubble has popped or not. And should we consult our crystal ball about that?

Voices [36:41]

My name's Sonia. I'm going to be showing you the crystal ball and how to use it or how I use it.

Mostly Uncle Frank [36:48]

Well, you know what our crystal ball always says when we ask it. What's going to happen next?

Voices [36:54]

We don't know! We don't know. You don't know. I don't know. Nobody knows. I don't know. That's nice. Mr. This class? Gee, Mr. Spicoli, I don't know. That's nice. I'm like, you know what I'm gonna do? I'm going to leave your words on this board for all my classes to enjoy. Giving you full credit, of course, Mrs. Spicoli.

Mostly Uncle Frank [37:23]

Anyway, that's enough of that. And now I see our signal is beginning to fade. The family hordes are descending upon us next week for Thanksgiving.

Voices [37:35]

The families will be here soon. Family? I I don't want the families over here.

Mostly Uncle Frank [37:42]

So I think we'll have at least one podcast, but I can't promise any more than that. We'll see. I do have some more donor emails stacked up here that I'd like to get to. But in the meantime, if you have comments or questions for me, please send them to Frank at RiskPardyRader.com. That email is Frank at RiskPardyRader.com. Or you can go to the website www.riskperdiRader.com. Put your message into the contact form and I'll get it that way. If you haven't had a chance to do it, please go to your favorite podcast provider and like, subscribe, give me some stars, a follow, a review. That would be great. Okay. Thank you once again for tuning in. This is Frank Vasquez with Risk Purdy Radio. Signing off.

Voices [38:38]

Thanksgiving is more than eating, Chuck. You heard what Linus was saying out there. Those early pilgrims were thankful for what have happened to them. And we should be thankful too. We should just be thankful for being together. I think that's what they mean by Thanksgiving, Charlie Brown.

Mostly Queen Mary [39:03]

The Risk Parody Radio Show is hosted by Frank Vasquez. The content provided is for entertainment and informational purposes only and does not constitute financial, investment, tax, or legal advice. Please consult with your own advisors before taking any actions based on any information you have heard here, making sure to take into account your own personal circumstances.