Opening And Housekeeping

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 [0:37]

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. And the basic foundational episodes are episodes 1, 3, 5, 7, and 9. Yes, it is still in my memory banks. We have also created an additional resource, a collection of additional foundational episodes and other popular episodes.

Voices [1:07]

We have top men working on it right now. Ooh.

Mostly Uncle Frank [1:14]

Top men. And you can find those on the episode guide page at www.riskparty radio.com. Inconceivable! All thanks to our friend Luke, our volunteer in Quebec. Sacosh. We'd be helpless without him.

Voices [1:36]

I have always depended on the kindness of strangers.

Mostly Uncle Frank [1:41]

Because other than him, it's just me and Marion here. I'll give you the moon, alright?

Voices [1:46]

I'll take it.

Mostly Uncle Frank [1:48]

We have no sponsors, we have no guests, and we have no expansion plans.

Voices [1:53]

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

Mostly Uncle Frank [1:55]

Over the years, our podcast has become very audienced focused, and I must say we do have the finest podcast audience available.

Voices [2:05]

Really top drawer.

Mostly Uncle Frank [2:07]

Along with a host named after a hot dog.

Voices [2:10]

Lighten up, Francis.

Mostly Uncle Frank [2:14]

But now onward, episode 506. 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.

Voices [2:27]

I'm putting you to sleep!

Mostly Uncle Frank [2:29]

And we're also gonna talk about our monthly distributions for May. This is pretty much the worst video ever made. Won't that be exciting?

Voices [2:39]

I can't believe it. I couldn't be more excited.

Mostly Uncle Frank [2:42]

But before we get to that.

Voices [2:44]

I'm intrigued by this. How you say email?

Helping A Parent Dodging Money Talks

Mostly Uncle Frank [2:50]

And first off. First off, we have an email from Kyle.

Voices [2:56]

Kyle.

Mostly Uncle Frank [2:59]

And Kyle writes?

Mostly Queen Mary [3:00]

Hi, Frank and Mary. I just sent in a donation to the Fairfax Casa through my donor-advised fund.

Voices [3:07]

Yeah, baby! Yeah!

Mostly Queen Mary [3:09]

I've been enjoying supporting Risk Parity Radio and getting good ideas on which organizations to support and getting to skip the line in the process.

Voices [3:18]

I must be in the front.

Mostly Queen Mary [3:20]

I was wondering about your advice on how to support parents with their milkshake drinking problems.

Voices [3:28]

Drink drink drink drink your or more. Milkshake drink. Drink, drink, drink, drink, your or more.

Mostly Queen Mary [3:38]

Milkshake drink it up! My mother is retired comfortably with a pension and social security that covers her expenses. She also has a moderate investment portfolio that she mainly plans to use for extravagances as she nears her required minimum distributions. But I could also foresee her needing some of it for living expenses over time with inflation. She is, in general, averse to learning about finances. So overall, she is in a good financial position. She can continue in the spot she is in and not really have a financial problem. However, it does bother me that she has worked so hard all her life for now to be in a position where she is getting ripped off. The problem is, anytime I bring up the fact she is getting ripped off, she shuts the conversation down. Uh what?

Mostly Uncle Frank [5:28]

It's gone. It's all gone.

Mostly Queen Mary [5:30]

I have offered to manage her money, but I don't want her to feel uncomfortable with that arrangement. She's a smart person, and she can learn how to manage the money, but she has no desire to. Any thoughts on this situation? Should I just let her be as that seems to be her desire, and just accept that she will continue to have a straw in her milkshake? I would appreciate any insight you may have. All the best to you both and the family.

Voices [6:16]

Sometimes love is hard, but you can't just run away from it. When you start to have something special, you have to work at it. Even though it might seem like the world is against you, you still have to hold on with both hands.

Mostly Uncle Frank [6:31]

Well, first off, thank you for being a donor to Fairfax Casa. That is the charity we've been promoting. Fairfax Court-appointed special advocates, of which Mary is one. They serve children going through the foster system here in Fairfax County. We've been talking about them a lot recently. We just completed our two-month drive for Fairfax Casa, and it went extremely well, and Mary and I are both very grateful. She's very happy, so I'm very happy. That's the way it should be, huh?

Voices [7:05]

Nothing gave Buttercup as much pleasure as ordering Wesley around. Fun boys, polish my horse's saddle. Want to see my face shining in it by morning.

Mostly Uncle Frank [7:16]

As you wish. And she'll be reporting on that again next week. But we do have a bit of a stack here of donors to Fairfax Casa. It's not too late, you know. I will leave that link in the show notes. And if you donate to Fairfax Casa or to my charity, the Father McKenna Center, you get to go to the front of the email line. Unfortunately, I was not so diligent in pulling all the emails that had donated to Fairfax Casa over the past couple months.

Voices [7:45]

Are you stupid or something?

Mostly Uncle Frank [7:47]

I think I've gotten them all now.

Voices [7:50]

Gosh! Idiot!

Mostly Uncle Frank [7:52]

But if you've donated more than I would say three weeks ago and you don't mind pinging me because you haven't heard your email read, I would appreciate that, and I'll get that fixed.

Voices [8:04]

I award you no points, and may God have mercy on your soul.

Mostly Uncle Frank [8:09]

Because we do want to make sure that you get the benefit of being a donor and get to go to the front of the email line. As that line now does extend back to November. Well, Kyle, this is a very difficult situation because it's not really about money. If you go back to episode 477, we did talk about a similar situation from an emailer from Wisconsin.

Voices [8:40]

Hey Ann, how you doing? Good seeing you at the church bar crawl last week. Yeah, it was fun. Ah, got a little too drunk. That's alright. Alright, hey, take care now. Tell your mom I says hi, okay.

Mostly Uncle Frank [8:52]

And I'll go back to the phrase of wisdom I used back then, which is that no one can be a prophet in their own land. And what that means is that if you have grown up around people, your parents in particular, sometimes your siblings or other people in your community who knew you as a child, oftentimes they still think of you as a child and as somebody that they would not take advice from, because we generally do not take advice from children.

Voices [9:19]

What have children ever done for me?

Mostly Uncle Frank [9:22]

And that tends to persist throughout our lives, and so oftentimes the person that is least convincing to a parent is their children, even if they're right, and they need to hear it from somebody else before it will stick. So I sense you are fighting a lot against that, that she not only doesn't want your advice on finances, she doesn't want your advice at anything because she's the parent and you're the child. Never mind, we're talking about two adults here now. Can we turn our beds into bunk beds? It'll give us so much extra space in our room to do activities.

Voices [9:56]

You're adults, you can do what you want. This is the funnest night ever.

Mostly Uncle Frank [10:01]

So I think the last thing she would want is to have you managing her assets, even though that makes imminent sense. She is also clearly a delegator when it comes to this, and she may be what is called an anxious delegator who is a bit neurotic about their money, but generally agreeable. So they want somebody to advise them. It's interesting. I've been doing some research, taking the ocean psychological profile test, which is the only one that is clinically backed, and it basically divides people's preferences into five personality traits, and then applying that to finances. And I'll put a couple of little things in the show notes that I've been fiddling with, but I've been actually taking some surveys to determine which populations fall into which groups. Most people who listen to this podcast, I suspect, fall into the smallest group for the general population, which is people that are low in neuroticism and high in openness, but often somewhat disagreeable.

Voices [11:01]

Ever knows how you come across somebody once in a while you you shouldn't have messed with. That's me.

Mostly Uncle Frank [11:08]

But I would suspect she falls into the majority of people who would actually prefer to have somebody advising them and taking care of this stuff for them. So I probably wouldn't try to fight that battle as to whether she should have an advisor or not. It might be more productive to see if you can fight a battle if maybe you shouldn't have this advisor.

Voices [11:29]

I drink your Wilkes. I drink it up every day. I drink it up. Drink it up. I drink it up every day. I drink it up. I drink it up.

Mostly Uncle Frank [11:50]

But now there are advisors who manage things in ways that are similar to the way we do things around here. And I've mentioned them in the past, but I don't want to turn this into a recommendation podcast or anything like that. There are advisors who listen to this podcast, though, as well. I will tell you how people find them. And my friend Optimus Bill. I am Optimus Bill performed an exercise using artificial intelligence to help him find an advisor who would work in the manner to which we have become accustomed here. I'll link to two podcasts where he talks about this. One is on Bigger Pockets Money, and another one is on Morningstar, the Longview podcast. And he was on both of those in the past few months, and I think that is kind of instructive because what he's looking for is somebody that he can work with directly, kind of one-on-one in a collaborative way, but also somebody that can take over if and when he croaks, if you will.

Voices [12:49]

You know, things around the house can be dangerous too, like these electric circuits. Never put any hands around it. Say I want to watch TV, Mr. Bill. Okay, uh.

Mostly Uncle Frank [13:04]

Since his wife has no interest in dealing with this and really does want and need somebody to take care of it for her. So maybe if you go through that process yourself, identify a few candidates, and then have a conversation where you suggest a better option to the one she's got.

Voices [13:22]

Every day, I drink it up! I drink it up!

Mostly Uncle Frank [13:33]

I'm not sure you'll get any traction there, but it's an idea, and it's something to try, and I think you'll have a better chance of success, at least, with taking that kind of approach rather than trying to challenge what she's doing directly, which as you've experienced, is not working very well. And I should mention Bill also sent an email about this whole process as well. It's episode 481, so I'd go listen to that one too, before I forget yet again.

Voices [14:11]

Are you crazy? Or just play stupid.

Mostly Uncle Frank [14:16]

So hopefully that helps you at least a little bit. Thank you for being a donor to Fairfax Casa, and thank you for your email.

Voices [14:25]

I want to hold you every morning and love you every night, cal. I promise you nothing but love and happiness. I swear! By the food and the stars and the sky. I'll be there, Cal. Second off.

Withdrawal Order And Tax Reality

Mostly Uncle Frank [14:43]

Second off, I have an email from Tim.

Voices [14:47]

Timber!

Mostly Uncle Frank [14:49]

And Tim writes.

Mostly Queen Mary [14:51]

Hi, Frank and Mary. Thanks once again for all of your efforts on behalf of two great charities. I just gave to CASA.

Voices [14:59]

Yes!

Mostly Queen Mary [15:00]

I have a question regarding selling assets from my portfolio on a monthly basis, or as the need arises. I just began the process of turning off dividend reinvestment, so thanks for that advice.

Voices [15:12]

Excellent. Everything is going as planned.

Mostly Queen Mary [15:17]

At present, GLDM is the most inflated asset in my portfolio, but I hold it in my Roth IRA and traditional IRA only.

Voices [15:26]

It's gold, Jerry, gold.

Mostly Queen Mary [15:28]

As I understand the preferred sequence of withdrawals, I should withdraw from my brokerage account first, which is composed of a total market equity ETF, then I should withdraw from traditional and finally from Roth. But is that not necessarily the best strategy? I am thinking that the advantage gained by selling the most inflated asset may outweigh the preference to withdraw from non-tech sheltered accounts first. Thusly, I am considering selling a little bit of GLDM from my Roth IRA, even though I have been told that it is verbotin. I am 60 and will work another five years simply because I love my work. Thanks for any perspective you can offer. My wife and I have 8% of assets in a brokerage, 28% in Roth IRAs, and the rest in traditional IRAs. Best regards, Tim.

Mostly Uncle Frank [16:21]

Well, thank you also for being a donor to Fairfax Casa. And sorry we didn't get to you sooner. But getting straight to your email. Yeah, I don't think any general rule is very useful in this context, and I really hate it when we have the financial media just kind of saying things that, well, you should withdraw from your brokerage account first.

Voices [16:44]

Watch out for that first step, it's and doozy.

Mostly Uncle Frank [16:48]

There's no way of knowing that without knowing your entire situation. Because there are too many variables and too many other factors here, having to do with how much money you're taking out of it, whether you have any other income, which tax brackets you're in, the mix in particular you have. But I will tell you the general goal here is to minimize taxes over time, over your lifetime. And so what that generally entails is spreading out your distributions from your traditional retirement account in most circumstances over as much time as possible. And whether those are taken as actual distributions or conversions to Roth accounts is another factor that you need to consider. So I would never accept a default take out of this account first, then take out of this account, then take out of this account.

Voices [17:40]

You know, I got friends of mine who live and die by the actuarial tables, and I say, hey, it's all one big crapshoot anywho.

Mostly Uncle Frank [17:48]

But what I would do is go read the book recently published by Cody Garrett and Sean Mullaney about taxes in and through early retirement. Because that has a lot of ideas and a lot of examples, some of which kind of match up with what you're talking about here. But that is their general thesis as well, with regard to this, that you have to think about your tax liability over the course of your lifetime. And oftentimes that means taking more, converting more after you turn 59 and a half, but before Social Security, because there's kind of a sweet spot of conversion time you can deal with there. I also summarized that book in a nice slide presentation featuring Admiral Akbar from Star Wars.

Voices [18:32]

It's a trap!

Mostly Uncle Frank [18:34]

And I will link to that in the show notes so you can check that out.

Voices [18:40]

It's a trap, it's a trap, it's a trap, it's a it's a trap.

Mostly Uncle Frank [18:46]

It's actually one of Cody Garrett's favorite things.

Voices [18:50]

It's a trap! It's a trap, it's a trap, it's a it's a trap.

Mostly Uncle Frank [18:57]

And I also found a article from Michael Kitsis that is from 2016, but it's about these very kinds of issues, and just points out you need to be flexible, and the plan that you come up with is probably going to be a little bit different than what somebody else is doing based on your personal circumstances. Now that article is before the recent changes in the tax laws, but the concepts are still applicable. Now, with respect to the gold holding, what I think you need to do there is an asset swap. So you're going to sell the gold in your Roth, but then replace it with something like stocks, and then sell the stocks, say in the brokerage account or a different account. And what that will do is you'll end up adjusting your overall allocation to be having less gold in it, but it won't change the other allocations, even though you're not actually taking any money out of the Roth. And there's a nice video on asset swaps that our friend Justin at Risk Parity Chronicles prepared and is on YouTube. I will link to that again in the show notes. But just because you are selling the gold in the Roth doesn't mean you actually need to take anything out of the Roth. You just replace it with something else and then sell something in a different account. This will be a little more clear if you watch the video, as it's very difficult to explain orally. But it is also not wrong to be using some of your Roth account earlier, depending on where you fall in tax brackets and other considerations, like whether you're getting ACA subsidies or paying Irma or other things like that. But again, that has to be personalized to your situation. Which is not very helpful, but it's eminently true. And you won't be angry? I will not be angry. So, hopefully that helps. You can check out those resources. Thank you for being a donor to Fairfax Casa. And thank you for your email.

Voices [20:52]

That was I have! Yeah, Timmy rules! Last off.

TSP Limits And The Rollover Fix

Mostly Uncle Frank [20:58]

Last off? I have an email from Tim. A different Tim.

Voices [21:05]

By what name are you known? There are some who call me Tim.

Mostly Uncle Frank [21:13]

And a different Tim rights?

Mostly Queen Mary [21:15]

Dear Frank, due to the recent government restructuring, I am a newly retired federal employee and am fortunate to have 25 times my annual expenses in retirement accounts, so I was able to retire eight years earlier than I had been planning. I have been following your podcast and I would like to execute a golden ratio portfolio. However, the TSP has limited fund choices and I'm having difficulty figuring out how to balance my portfolio to closely resemble your recommendations. Currently, I have my TSP allocated 65% C fund and 35% G fund. I'm able to buy the recommended percentages of gold, managed futures, and international. Slash cash in Roth slash IRA accounts that my wife and I hold outside of TSP. However, each of these accounts would be exclusively allocated to each of the recommended funds. For example, my wife's Roth would be entirely GLDM. My initial plan to draw down my retirement savings is to execute a 72T step on my TSP balance, which would continue for the next nine years until I'm 59 and a half. Question one, is it risky to have an entire retirement account allocated to gold or managed futures since I'm not withdrawing from those accounts? Question two, do you think that the C fund is comparable to your recommendation to have a split between large cap and small cap funds in the stock allocation portion? Question three, how would I rebalance my assets if the stock market goes up significantly and the other accounts decrease significantly? I wouldn't be able to buy those other assets within TSP, so I'm not sure how I'd go about rebalancing the portfolio. Thanks for putting on the best financial podcast out there. The best, Jerry, the best. I have donated to the Father McKenna Center as well.

Voices [23:13]

Greetings, Tim the Enchanta. Greetings, King Arthur! You know my name? I do.

Mostly Uncle Frank [23:28]

Alright, Tim, there is a relatively easy way to solve all these quandaries with the TSP, which is since you are retired, you can roll that TSP out to a traditional IRA or a Roth IRA, depending on what kind it is, at Fidelity or elsewhere, and then just manage the portfolio to your heart's content from there, and then you will not be stuck with only being able to use funds in the TSP. And that is really what you want to do here.

Voices [23:55]

Surely you can't be serious. I am serious, and don't call me Shirley.

Mostly Uncle Frank [23:59]

The TSP can be great as an accumulation vehicle, but it's not really set up for management of a retirement account. And it's going to be a whole lot easier to get your money out if you're just poking a couple of buttons at Fidelity and not having to deal with the TSP to have distributions from. So that is the overall solution.

Voices [24:20]

Change the polls from plus to minus and from minus to plus.

Mostly Uncle Frank [24:27]

And then when you're thinking about doing a 72T, you should also think about well, how much of these accounts do I want to subject to the 72T? Because you can set up multiple IRAs. And suppose you only want $200,000 subject to the SEP rules. You would basically just set up a separate IRA after you've moved everything into the big IRA and put the $200,000 worth of assets in there and then do the 72T only on that account because the 72T applies account by account. So you're not required to do that with all of your assets. And generally that is a better solution for most people than just subjecting all of your retirement money to one big 72T SEP treatment. I think this is also talked about in that taxes and retirement book that I mentioned. So I would also urge you to check that out. Sean Mullaney is an expert when it comes to using 72T and SEP. He's appeared on the Choose FI podcast and has a website called the Fi Tax Guy, where you'll also find information about using this kind of mechanism to get money out and also separating the accounts so you're only subjecting part of your money to this treatment. Alright. Now with that backdrop, looking at your questions, is it risky to have the entire retirement account or an entire retirement account allocated to gold or managed futures? Since I'm not withdrawing from those accounts. And the answer is no, you should treat all of your accounts together as one big account. So to the extent it's more risky in one account, it's going to be less risky in another account. I have a funny situation where we have our taxable account, and then I also have an IRA that kind of goes with that. And so within those accounts, you know, we have all the stocks and things that are qualified dividend payers in the taxable account, and then we have all these managed futures and bonds and other things in the IRA. And they can perform wildly differently on different days, especially these days since the managed futures tend to be negatively correlated with just about everything else except for oil. But over time, these things have a way of working themselves out. And what's really important about your allocations is that they're done to minimize your taxes, that you're properly locating your assets in accounts that will minimize your tax bill ultimately. So I would not worry about how any particular account by itself is performing. It's the whole portfolio that matters, not any particular account. Question two, is the C fund comparable to recommendation to have a split between large cap and small cap funds in the stock allocation portion? And the answer to that is no. The C fund is more like an SP 500 fund. So it's a large cap blend kind of fund. And I should clarify, the most important split is not between large and small for our purposes and diversification purposes. The most important split is between growth and value. And you can use the C fund kind of like a large cap growth fund, but you would want to balance that out with the pure value fund. And if you're also going for size, you make that the small cap value fund. But you are going to easily solve this problem when you move your TSP to an IRA, and then you can buy whatever you want.

Voices [28:02]

And that's the way uh-huh uh-huh. I like it, Casey on the Shunshine Band.

Market Snapshot And Portfolio Results

Mostly Uncle Frank [28:07]

Alright, question three. How would you rebalance your assets if stock market goes up significantly and other accounts decrease significantly? Wouldn't be able to buy those other assets within the TSP. So I'm not sure about how I'd go about rebalancing the portfolio. Well, this is where the moving the assets out of the TSP is the best solution. Did you get that memo? But if we're not in the TSP context, or even in the TSP context, you could still sell stocks in the TSP and buy bonds in there and then make other adjustments outside of that account. And that's generally the way you would do that. If you don't want to actually move money out of retirement accounts, you can still do the rebalancing within one account, at least for the assets that you have in there. I realize you just have stocks and bonds in there. But this is an academic exercise in this case because you are going to move this to an IRA at another institution, and then you can rebalance away into whatever you want at whatever time you want. Inconceivable! So thank you for being a donor, and you're a donor to the Father McKenna Center. Score one for the Uncle Frank here. Poof! I am confident that my answers actually helped you. Unlike our first emailer. And thank you for that email. Now we are going to do something extremely fun. And the extremely fun thing we get to do now is our weekly portfolio review. So the eight sample portfolios you can find at www.riskpredireader.com on the portfolios page, and also talk about our May distributions. But just looking at where the markets are this year, it's turning out to be a pretty good year.

Voices [30:03]

When I was 17, it was a very good year.

Mostly Uncle Frank [30:15]

At least so far. Poof. The SP 500, represented by VOO, is up 5.98% for the year so far. The NASDAQ, represented by the fund QQQ, that's the Nasdaq 100, is up 9.88% for the year so far. It's a big jump. Small cap value continues to lead the way.

Voices [30:49]

I gotta have more cowbell.

Mostly Uncle Frank [30:51]

Gold has calmed down and it's performing more like it does on an average year basis.

Voices [30:59]

I love gold.

Mostly Uncle Frank [31:03]

Representative fund GLDM is now up 6.84% for the year so far. Long-term treasury bonds, represented by the fund VGLT, are not doing much. They're down 0.43% for the year so far. REITs represented by the fund REET are up 9.84% for the year. Commodities continue to be the outstanding and big leader on those higher oil prices. I'm an oil man.

Voices [31:31]

I travel from state to state searching for oil-rich fields which I can drill on. But when I'm not doing that, I'm on a countrywide quest for my second love.

Mostly Uncle Frank [31:41]

The perfect milkshake.64% for the year so far. Preferred shares represented by the fund PFFV are up 2.73% for the year so far. And managed futures are managing to do quite well, also tracking that oil price. Representative fund DBMF is up 9.23% for the year so far. Moving to these portfolios, first one is this reference portfolio we keep around more for comparison purposes than anything else, because it's really too conservative for most other purposes. It has 30% stocks and a total stock market fund, 55% in intermediate and long-term treasury bonds, and the remaining 15% divided into gold and commodities. It was up 3.27% for the month of April. It's up 5.08% for the year so far, and up 29.53% since inception in July 2020. For the month of May, we will be distributing $35 out of it. It's going to come from PDBC at Commodities Fund. It's at a 4% annualized rate, and that'll be $172 year to date and $2,246 since inception in July 2020. Now moving to these kind of bread and butter portfolios. First one's Gold and Butterfly. This one's 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, GLDM. It was up 3.39% for the month of April. It's up 5.69% year to date and up 68.63% since inception in July 2020. For the month of May, we'll be distributing $53 out of it, and it's going to come out of gold again.

Voices [33:31]

This is gold, Mr. Bond.

Mostly Uncle Frank [33:34]

Because gold is still the best performer since last July by far.

Voices [33:39]

I think you've made your point, Goldfinger. Thank you for the demonstration.

Mostly Uncle Frank [33:42]

When we rebalanced this portfolio. So that's at a 5% annualized rate. It'll be $262 year to date and $3,125 since inception in July 2020. Next one's the golden ratio. This one is 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 cash and a money market fund. It was up 4.38% for the month of April. It's up 5.86% year to date, and up 63.44% since inception in July 2020. We always take out of cash out of this portfolio for the distributions to make it very simple and then refill that cash allocation in July. So for May, it's going to be $51 to set a 5% annualized rate. That'll be $252 a year to date and $3,055 since inception in July 2020. Next one's the Risk Parity Ultimate. It's kind of a kitchen sink of portfolios here. Not going to go through all 12 of these funds. Just got a little bit of everything for demonstrative purposes, if you will.

Voices [35:00]

That is the straight stuff, O Funkmaster.

Mostly Uncle Frank [35:03]

So this one was up 4.98% for the month of April. It's up 5.98% year to date and up 47.83% since inception of July 2020. For the month of May, we are withdrawing $54 and it's coming out of accumulated cash. That's at a 6% annualized rate. So that'll be $269 year to date and $3,236 since Inception July 2020. Now moving to these experimental portfolios involving leveraged funds. Do not try this at home. It is also really for demonstrative purposes only. At least for the most part.

Voices [35:50]

You have a gambling problem.

Where To Find Details And Write In

Mostly Uncle Frank [35:53]

First one is the accelerated permanent portfolio. This is 27.5% in a levered bond fund, TMF, 25% in UPRO, that's a levered SP 500 fund, 25% in PFFV, a preferred shares fund, and 22.5% in gold, GLDM. It was up 6.97% for the month of April. It's up 4.73% year to date and up 29.27% since inception July 2020. For the month of May, we are distributing $44 out of it. It's coming out of accumulated cash. It's at a 6% annualized rate. It'll be $219 year to date and $3,326 since inception July 2020. Next one's the aggressive 50-50. This is the most levered and least diversified of these portfolios and worst performer by far, although not in April. So it's one-third in a levered bond fund, TMF one-third in a leverage stock fund, UPRO, and the remaining third in ballast divided into a preferred shares fund and an intermediate treasury bond fund. It was up 9.34% for the month of April, but it's only up 3.01% year to date and 1.28% since inception in July 2020. For the month of May, we are distributing $34 out of it. It's coming out of accumulated cash. It'll be $169 year to date and $3,232 since inception in July 2020. Now moving to our next one, which is a year younger than the first six. This is the levered golden ratio. This is 35% in a composite levered fund called NTSX, the C S P 500 and Treasury Bonds, levered up 1.5 to 1, 15% in AVDV, which is an international small cap value fund. 20% in gold in GLDM, 10% in KMLM, a managed futures fund, 10% in TMF, a levered bond fund, and the remaining 10% divided into UDOW and UTSL, which are levered funds following a Dow index and a utilities index. It was up 5.41% for the month of April. It's up 7.43% year to date and up 28.77% since inception in July 2021. For the month of May, we are distributing $58 out of it, and it's coming out of the International Small Cap Value Fund, AVDV, which has been the best performer recently. That's at a 7% annualized rate. So it's $255 year-to-date so far in distributions and $2,215 since inception in July 2021. And the last one, our newest one, the OPTRA portfolio. This is a return stacked style portfolio. One portfolio to rule them all, and it is ruling them all so far in its existence. It is 16% in UPRO, a leverage stock fund, 24% in AVGV, which is a worldwide value tilted fund, a fund of funds, 24% in GOVZ, which is a Treasury Strips From the remaining 36% divided into gold and managed futures. It was up 6.77% for the month of April. It's up 8.8% year to date and up 40.38% since inception in July 2024. For the month of May, we're distributing $63 out of it. It's going to come out of gold, GLDM. It's at a 6% annualized rate. It'll be $308 year to date and $1,203 since inception in July 2024. And that concludes our weekly portfolio reviews and monthly distribution summary. You can find this all at the website on the portfolios page at www.riskpartyrade.com with a lot more information about the constructions and the methods of withdrawal, including rebalancing rules for each one. And we do vary those rebalancing rules by portfolio just to give you different kinds of examples of ways you could manage things, either annual rebalancings or on guardrails, or in some other methods. So you can take a look at that at your leisure.

Voices [40:10]

Do you expect me to talk? No, Mr. Bund, I expect you to die.

Mostly Uncle Frank [40:16]

But now I see our signal is beginning to fade. If you have comments or questions for me, please send them to Frank at RiskPardyRear.com. That email is Frank at RiskPardyRear.com. Or you can go to the website www.riskpartyradio.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 and give some stars a follow, a review. That would be great. Okay. Thank you once again for tuning in. This is Frank Vasquez with Risk Party Radio signing off.

Voices [40:53]

My straw reaches a cruise through and starts to drink your milkshake. I drink your milkshake.

Mostly Queen Mary [42:01]

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.