The same poster stated:
"$100K is not meaningful to change someone's life."
..........AND..........
"Why not open a new thread and ask what a windfall of $100K would mean..."
Say what?
These are two inherently conflicting statements which beg several questions, the first rhetorical one of course being,
IF $100K is not meaningful to change someone's life, how in the world can it be regarded by anyone as a "windfall"?
To wit, per Experian (bold added):
A financial windfall is money you didn't expect to receive. Financial windfalls can range in size from hundreds to millions of dollars, but whatever the amount, they offer an opportunity to improve your financial situation.
Perhaps what the poster was trying to state was best expressed recently by Agent Orange...
(Click twice on below)

See his buffonish comments at 1:00 of video:
"I know this. I don't even know that!"
Got it!

"The turnover ratio measures fund yearly trading activity. It is calculated by taking the lesser of purchases or sales, dividing that number by average monthly net assets. Securities with a maturity of less than a year are not considered."
Fund reports show the report period turnover plus annual those for several FYs. Anything more may have to be calculated manually.
https://icfs.com/financial-knowledge-center/turnover-ratios-and-how-compute-them

https://www.sec.gov/Archives/edgar/data/711080/000168386323006232/f36172d1.htm
497 1 f36172d1.htm 497
TOUCHSTONE STRATEGIC TRUST
Touchstone Dynamic Allocation Fund (the “Target Fund”)
Supplement dated September 13, 2023, to the Fund’s Summary Prospectus, Prospectus and Statement of Additional Information (“SAI”), each dated April 28, 2023, as may be amended or supplemented from time to time
IMPORTANT NOTICE REGARDING PROPOSED CHANGES TO THE TARGET FUND
Proposed Reorganization
In supplements dated February 24, 2023 and March 14, 2023, the proposed conversion of the Target Fund, a mutual fund series of Touchstone Strategic Trust, from a mutual fund to an exchange-traded fund (an “ETF”) through the reorganization of the Target Fund into a newly-created ETF series of the Touchstone ETF Trust (the “Reorganization”), was announced. A Proxy Statement/Prospectus (the “Proxy Statement”) dated July 20, 2023, which contains more information regarding the Acquiring ETF (as defined below) and the Reorganization, was filed with the Securities and Exchange Commission (the “SEC”), and was mailed to Target Fund shareholders of record as of June 30, 2023.
The newly-created ETF, Touchstone Dynamic International ETF, is proposed to serve as the acquiring fund in the Reorganization (the “Acquiring ETF” and together with the Target Fund, the “Funds”). A special meeting of shareholders of the Target Fund commenced on August 29, 2023 and was adjourned until October 2, 2023 (the “Special Meeting”), at which time shareholders of record of the Target Fund will vote on the proposal to approve the Reorganization of the Target Fund into the Acquiring ETF. The Reorganization is expected to be tax-free for U.S. federal income tax purposes.
Under the terms of the Agreement and Plan of Reorganization (the “Plan”), the Target Fund would transfer all of its assets to the Acquiring ETF in exchange for shares of the Acquiring ETF. The Acquiring ETF would also assume all of the Target Fund's liabilities. The shares of the Acquiring ETF would then be distributed to the Target Fund's shareholders, and the Target Fund would be terminated.
Prior to the Reorganization, any dividends paid by the Target Fund will be paid in accordance with the current dividend option of an account; accounts in which the dividend reinvestment option has been chosen will receive any dividends in the form of additional shares of the Target Fund.
The Target Fund's shareholders will be required to approve the Reorganization. If the Reorganization is approved at the Special Meeting and subject to additional conditions required by the Plan, the Reorganization is expected to be completed on or about October 20, 2023. Shareholders of the Target Fund will not pay any sales load, commission, or other similar fee in connection with the Acquiring ETF shares received in the Reorganization. Expenses associated with the Reorganization will be borne by Touchstone Advisors, Inc. (“Touchstone”).
In connection with the Reorganization, the Target Fund closed to new shareholders on May 15, 2023. Current Target Fund shareholders may continue to purchase shares of the Target Fund until September 29, 2023.
After the Reorganization, shareholders may only purchase or sell shares of the Acquiring ETF on a national securities exchange at prevailing market prices through a broker-dealer.
More Information About the Funds
Although the Target Fund and Acquiring ETF are similar in various ways, there are some differences. For example, the Acquiring ETF will have a different sub-adviser, principal investment strategies, risks, fees, and expenses than the Target Fund. The Acquiring ETF will also be subject to certain risks unique to operating as an ETF. A comparison of the investment policies, strategies, fees, expenses, and risks of the Target Fund and the Acquiring ETF are included in the Proxy Statement.
The Target Fund seeks to provide investors with capital appreciation as its investment goal. The Acquiring ETF also will seek to provide investors with capital appreciation as its investment goal. The principal investment strategies and principal risks for the Funds are similar, although they do differ in certain respects. The Target Fund is a “fund-of-funds” that invests in a diversified portfolio of fixed-income and equity oriented underlying funds. These underlying funds, in turn, invest in a variety of U.S. and foreign equity and fixed-income securities. The Acquiring ETF will invest, under normal circumstances, at least 80% of its assets in equity securities of non-U.S. companies. Touchstone serves as the investment adviser to the Target Fund and will also serve as the investment adviser to the Acquiring ETF. The Target Fund is sub-advised by Wilshire Associates Incorporated (“Wilshire”), while the Acquiring ETF will be sub-advised by Los Angeles Capital Management LLC (“Los Angeles Capital”).
Los Angeles Capital is an SEC-registered asset manager based in Santa Monica, California, with $28 billion in assets under management as of December 31, 2022. Formed in 2002 by former Wilshire employees, Los Angeles Capital is independent and employee owned. Founding members include Tom Stevens CFA, Chairman; Hal Reynolds CFA, Chief Investment Officer; Stuart Matsuda, Chief Trading Officer; and Daniel Allen CFA, CEO & President. The portfolio managers of the Acquiring ETF will be Hal Reynolds CFA, Ed Rackham Ph.D., and Daniel Arche CFA.
1
Prior to the Reorganization, Wilshire will continue to sub-advise the Target Fund in accordance with its investment goal and principal investment strategies.
You can obtain a copy of the prospectus or SAI for the Acquiring ETF, by visiting the website at TouchstoneInvestments.com/ETFs, by calling (833) 368-7383, or by contacting your financial adviser.
The foregoing is not an offer to sell, nor a solicitation of an offer to buy, any shares in connection with the Reorganization, nor is it a solicitation of any proxy. For important information regarding the Funds, or to receive a free copy of the Proxy Statement, please contact your financial adviser or Touchstone at 800.543.0407. The Proxy Statement contains important information about Fund goals, strategies, fees, expenses, risks, and the Board's considerations in approving the Reorganization. The Proxy Statement is also available for free on the SEC's website (www.sec.gov). Please read the Proxy Statement carefully before voting on the Reorganization.
 
* * * * * 
Please contact your financial adviser or Touchstone at 800.543.0407 if you have any questions.
P.O. Box 534467 Pittsburgh, PA 15253-4467
Ph: 800.543.0407 TouchstoneInvestments.com
Touchstone Mutual Funds are distributed by Touchstone Securities, Inc.*
*A registered broker-dealer and member FINRA and SIPC
A Member of Western & Southern Financial Group
Please retain this Supplement for future reference.
 
TSF-54CC-TST-TSMAX-S15-2309
 
2

@dtconroe- Exactly- same here.
However...if answering this question prior to maybe five years ago the answer would have been entirely different. The financial positioning is entirely different when comparing accumulation years and preservation years.

Jeremy Grantham became famous for predicting the dot-com crash in 2000 and the financial crisis in 2008.
Grantham did not anticipate the superior returns for large U.S. stocks (particulary growth stocks)
since the financial crisis because he believed many of these stocks were overvalued.
Long-term market trends changed but Grantham's views did not evolve accordingly.
Having said that, most prognosticators' predictions are incorrect.
I think it's beneficial to listen to different viewpoints albeit without making large bets on specific outcomes.
BTW, thanks for mentioning Bloomberg Wealth.
I'm a fan of The David Rubenstein Show but didn't realize Mr. Rubenstein also hosted Bloomberg Wealth.

I consume a lot of financial media.
Frankly, this is often an inefficient use of my time.
Good books written by talented authors are frequently more informative and rewarding.
I just finished reading the recently released second edition of The Four Pillars of Investing
by William Bernstein. There is a short chapter in the book about "financial journalism."
Select quotes from the author are below.
"Is any financial journalism worth reading? Almost none."
Noted exceptions listed: Jason Zweig (WSJ), Jeff Sommer (NYT), Tara Siegel-Bernard (NYT),
and Ron Lieber (NYT).
"But on the whole, investors are better off ignoring not only both these publications,
but nearly all financial print media."
"Among general audience publications, only one consistently conveys a nuanced, cutting-edge
approach to finance and that's the Economist."
"The Financial Times is also sometimes worth reading, but its digital library availability is embargoed for a month, and accessing the current issue, at several hundred dollars per year, is not cost efficient for many."
"YouTube also contains a treasure trove of lectures by nearly all of finance's leading lights,
strewn throughout its vast wasteland of misinfomation."
Search for: John Bogle, Kenneth French, Zvi Bodie, Eugene Fama, Jason Zweig, Burton Malkiel, William Sharpe, Jonathan Clements, and Charles Ellis.
Useful internet sites:
bogleheads.org - discussion board and wiki pages
humbledollar.com
Worthwhile finance podcasts:
Economist's Money Talks
NPR's Planet Money
Rick Ferri's Boglehead
Barry Ritholtz's Masters in Business

Hank,
I’m open to opposing views, but journalists promoting those views should also do a little fact checking of the track record of so-called experts. My investments in CDs are irrelevant because they comprise a small percentage of my overall asset allocation. I never said I was going to all cash or suggesting that others do so. My CDs also are being used as alternative to bonds, not stocks.
I have followed Grantham’s view for years because the financial press is enthralled by prophets of doom (Hussman is another example). He has been forecasting poor returns for US stocks for at least a decade, while recommending emerging markets and foreign stocks as better alternatives. He has been wrong, year after year. I know this because I am one of the poor fools who followed his bad advice and bought emerging markets funds that have been lousy investments, even after owning them for many, many years.
I will give Grantham credit for making convincing arguments for his forecasts, even though he’s been wrong. And I fully support his concerns about climate change and the environment.

ISTM the entire internet is going to s###.
At least 90% of the queries i submit (financial or otherwise ) come back as seductive advertisements having no value unless you provide personal information or pay money. Some of us have been around long enough to remember better days when one could do quite a bit of decent research on the net. It wouldn’t be so bad if the Ads were clearly marked as such before you opened up the links. But they rarely are. Re M* - I must have the “lucky touch” as I continue to find it useful for certain information without surrendering cash or providing an email. (Knock on wood.)

@FD1000 - I'm going to go out on a limb here and suggest that for most people who visit this site $100K 'IS' a substantial sum of money. Of course I have little to base that on as I have no data to support it. I don't know the financial sums MFO visitors possess. The remainder of your comment is fine.

My only harp here with all the cash dwellers is: Provided that’s your established style I think it’s a really great way to go and locking in the highest available rates is a solid decision. Where I’d have a concern is with former equity investors who took a drubbing in 2022 (down 10-20%) locking in a substantial loss by selling equities near their lows in exchange for cash. Ernie Harrell always said you should “Dance with the one that brung ya”. So, provided someone had a long standing, effective and appropriate allocation model having broad exposure among asset types and investment styles before things went sour, it’s hard to see why they should switch partners in the middle of the dance, ditch their former approach and move entirely into cash.
There is no certainty to any of this of course. Interest rates rise and fall. So d stocks, commodities, real estate prices, currencies etc.

I am struggling a bit, to determine if this thread is really about a "serious" question to determine how one would "invest" a $100k, compared to how to "spend" a $100k. You can spend a $100k very easily these days on Boats, Cars, Hot Dogs, or a thousand other things. Everytime my wife and I have a $100k CD mature, my dear wife talks about "spending" options, most notably plastic surgery so she will look younger, or help one/both of our adult children better cope with their financial needs. For 2 elderly adults in their 70s, investing vs spending, is still very real, but we are still facing an unpredicatable personal future, of not knowing how our existing assets will be needed, to live out the remainder of our life, without "burdening" our adult children, or to alloow us to have some pleasurable experiences to make old age as good as possible.
As you have noted above, when it comes to investing, we have already made some "debatable" choices. Equities were a big part of our investing decisions until we retired. Then we chose to go with less risky options, where our lifelong accumulations would not be in jeopardy, during this geriatric period of life without employment income, life without a company pension, and life with increasing health risks and some materialistic realities associated with our materialistic assests of homes, cars, vacations, etc. At this point in time, we have chosen a safer path with CDs, which will offer some guaranteed income, not with investing risks associated with bonds or equities, which have their own unique risks.
This thread has investors/posters, in all phases of life, with varying conditions, unique to themselves. One persons decisions, is one persons decisions, and very likely will be based on conditions, that are different from other persons decisions. And my wife, who knows next to nothing about investing, is an equal partner in life with me, in making those decisons!

5.5% 2 year cd jp Morgan chase today at fidelity, stepped in and conducted some commerce at lunchtime
Like the idea of watches. Get outside of financial system.... you've heard me pine about high grade rubies a few years ago
Don't read hussy commentary today if you hold lots of stocks etc.... you'll be investing in whiskey to steel your nerves....

24-minute interview. Not that great as financial discussions go - IMHO. Grantham’s emphasis is more on climate change and social / political upheaval, both of which he views as grave threats to mankind. The one investment takeaway I got was that he finds value in most international equity markets, while seeing the U.S. market as a huge bubble.
Linked solely for those who might be interested in Grantham’s latest views.
Here’s the interview:
I’d describe Grantham’s read on U.S. equities as “The elephant chasing his tail” argument. Most of what I read elsewhere seems to confirm my suspicion that investors tend to chase what is recently successful - thereby propelling certain assets even higher and pulling in more investors, of course, until the asset(s) eventually tumble under their own weight. More a problem with different corners of the equity market - but I believe it can apply to funds as well, depending on their degree of concentration. ISTM perhaps a certain niche fund’s strategy will remain highly successful for a long while, but than whither on the vine just as its AUM / popularity soar. CCOR may be a candidate here - though I personally believe that one has finally turned the corner.
The Psychology of Money by Morgan Housel is worth a quick read. It was featured in a recent Barron’s interview with the author. Not as good as the Barron’s promo / hype might lead you to believe, but still worth the hour or so reading time. A lot of common sense ideas aimed at the smaller every-day investor / saver. (He’s mostly talked me out of splurging on an extravagant new 2023 auto when my 2018 model is running perfectly fine. :))

Of course, so much depends on one's financial situation, proximity to retirement, etc.
That said, here's one idea.
$20k - Treasuries or LCORX.
$25k - Fine Swiss timepieces (2-3 from the IWC, Breguet, Piaget, DeBethune families)
$20k - VGWLX
$20k - PRWCX / FPACX
$15k - FMIMX
Wear the watches now. At least one of the watches should be an IWC Portugieser. Fun to wear, and will always have a market.

The problem with VALUATION is the fact that:
1) It can't predict the next 3-6-12 months
2) It can't predict market correction and which index/category will go down more.
3) Once upon a time PE10(CAPE) looked like a decent indicator until it failed miserably.
Prof Shiller created PE10 which is supposed to predict performance based on valuation better than PE
On 05/2012 (https://money.cnn.com/2012/04/10/pf/investing-Shiller.moneymag/index.htm)
Question: You have become famous for your cyclically adjusted 10-year price/earnings ratio. What do the latest numbers say about future stock market returns?
Shiller: we found a correlation between that ratio and the next 10 years' return.
If you plug in today's P/E of about 22, it would be predicting something like an annualized 4% return after inflation.
FD: In reality, the SP500 made 13.6% in the next 10 years (04/31/2012-04/31/2022). Let's deduct the inflation and make it 11%. It is much better than countries with lower PE10 such as Emerging markets.
4) If valuation or another indicator has been how you make more money, we would have a lot more investors such as Buffett and Lynch. Times have changed too...article quote:"It’s harder to find overlooked stocks than it was in Lynch’s day because more people are looking for them — anyone with a smartphone has free access to extensive markets and financial information. The result of greater competition is evident in the numbers: Fast-growing or highly profitable companies are almost always the most expensive while the cheapest ones come with lackluster growth or thin profits."

I've used Symantec VIP to access Fidelity via my desktop computer for several years.
I haven't experienced any issues with this two-factor authentication app.
Note: I never access personal financial accounts via any mobile devices.

Krebs' piece observes that "Countless websites and online services use SMS text messages for both password resets and multi-factor authentication." That said, he warns about the risk of using a mobile phone for password resets.
Lose the phone (or number) to a hacker and you have no protection with password resets because the phone is used as the sole authentication method. In contrast, with true two factor authentication, you're not left unprotected with a SIM swap. You're effectively reduced to one factor authentication - not great, but better than nothing.

you should do whatever you can to minimize your reliance on mobile phone companies for your security. ... Why do I suggest this? Many online services allow users to reset their passwords just by clicking a link sent via SMS ... If you haven’t done so lately, take a moment to inventory your most important online accounts, and see how many of them can still have their password reset by receiving an SMS

I'm not suggesting that one should disregard the risks inherent in using mobile phones as an authentication method regardless of the number of authentication factors used. It's just that the biggest risks, the ones Krebs is writing about, come from single factor authentication methods (here, password resets) and from using a relatively unsecure authentication method (mobile phone).
For security, one wants to use two (or more) factor authentication and keep the authentication methods as secure as possible. The number I have at financial institutions is my landline number. Hard for someone to gain access to, and many places can now send security codes by voice rather than by text.

That's a false dichotomy.
There are various perspectives including the pragmatic and the principled. Pragmatically, you most likely won't get caught. I take a pragmatic perspective on a daily basis when I jaywalk. I will not be cited. Rudy is no longer mayor of NYC.
Rudy Opens New War on Jaywalkers, NYPost, July 8, 2000.
Then there's the principled perspective. As Yogi described, fair use permits limited copying of material. And California permits (technically decriminalizes) jaywalking in limited situations - when "safe" to do so.
https://www.sacbee.com/news/politics-government/capitol-alert/article266903931.html
Or one can take a more restrained approach. Post nothing, stay within the crosswalks.
Side note: Copyright infringement is not prosecuted as a crime unless it is committed "for purposes of commercial advantage or private financial gain". 17 USC 506(a)(1)(A). That could have pragmatic implications (affecting the likelihood of getting caught). Offered as an observation, not advice.

I used to post % of investment. Since everyone financial situation and risk tolerance differ, I am not sure how the investment % would help. Otherwise, these information could potentially be misleading and not constructive. Besides MFO premium has been a wonderful tool for my own research.

Brief blurb excerpted from today’s Financial Times - Several different elements. I thought the most fascinating is that one firm is seeking to move in the direction opposite the trend - converting its existing ETFs to mutual funds.
Excerpt:
”A US investment boutique has filed with regulators to launch mutual fund share classes of its family of exchange traded funds in the latest attempt by the industry to break Vanguard’s lucrative US-wide monopoly on the innovative structure. Vanguard was granted a US patent for its “ETF-as-a-share-class” structure in 2000, allowing it to operate a mutual fund and a sister ETF as essentially the same vehicle … Vanguard’s patent expired in May, prompting Dimensional Fund Advisors and PGIA, the US arm of Australian asset manager Perpetual, to file for exemptive relief from the US Securities and Exchange Commission to launch ETF share classes for some of their mutual funds. F/m Investments, a Washington DC-based multi-boutique has now become the first asset manager to file for exemptive relief to move in the opposite direction — creating mutual fund share classes of its existing ETFs.”
From: The Financial Times - August 2023
(It’s near impossible for subscribers to provide workable links to the FT. Probably can find story elsewhere if interested in learning more.)

https://www.sec.gov/Archives/edgar/data/1359057/000089418923005902/vertetfconversion497e.htm
Filed pursuant to Rule 497(e)
Registration Nos. 333-133691; 811-21897
VERT GLOBAL SUSTAINABLE REAL ESTATE FUND
a series of Manager Directed Portfolios (the “Trust”)
Supplement dated August 21, 2023 to the
Summary Prospectus, Prospectus, and Statement of Additional Information
dated October 31, 2022, as supplemented
At a meeting held on August 17, 2023, the Board of Trustees (the “Board”) of the Trust approved an Agreement and Plan of Reorganization (the “Plan of Reorganization”) which provides for the conversion of the Vert Global Sustainable Real Estate Fund (the “Fund”), a mutual fund series of the Trust, from a mutual fund to an exchange-traded fund (an “ETF”) through the reorganization of the Fund into the Vert Global Sustainable Real Estate ETF (the “Acquiring Fund”), a newly-created ETF series of the Trust (the “Reorganization”). Because applicable legal requirements do not require shareholder approval of the Reorganization and the Board has determined that the Reorganization is in the best interests of the Fund and the Acquiring Fund, shareholders of the Fund are not being asked to vote on the Reorganization.
Vert Asset Management, LLC (“Vert”), the Fund’s investment adviser, recommended the Reorganization to the Board and has agreed to assume all of the costs of the Reorganization. Vert believes the Reorganization will provide numerous benefits to Fund shareholders, including lower expenses, enhanced investor and financial intermediary access to the Fund as an ETF and the potential for greater tax efficiency. The Reorganization is expected to occur in the fourth quarter of 2023.
A combined Form N-14 information statement/prospectus (the “Information Statement”) providing information on the Reorganization, and including the Plan of Reorganization, is anticipated to be mailed to shareholders of the Fund during the fourth quarter of 2023. Under the Plan of Reorganization, shareholders of the Fund will receive shares of the Acquiring Fund having the same aggregate net asset value as the shares of the Fund they hold on the date of the Reorganization. The Reorganization is expected to be treated as a tax-free reorganization for federal income tax purposes. Shares of the Acquiring Fund are not issued in fractional shares. As a result, some shareholders who hold fractional shares of the Fund may have such fractional shares redeemed at NAV immediately prior to the Reorganization resulting in a small cash payment, which may be taxable.
Prior to the Reorganization, Vert and Dimensional Fund Advisors Fund Advisors LP (“DFA”), the Fund’s investment sub-adviser, will continue to manage the Fund in accordance with the Fund’s investment objective and principal investment strategies. After the Reorganization, Vert will serve as investment adviser for the Acquiring Fund and DFA will serve as investment sub-adviser for the Acquiring Fund. Mr. Samuel Adams, of Vert, is a portfolio manager for the Fund and will serve as a portfolio manager for the Acquiring Fund. Mr. Jed S. Fogdall, Mr. Allen Pu, and Mr. William Collins-Dean, each of DFA, are currently responsible for providing portfolio management and trading services for the Fund with respect to securities identified as eligible for the Fund by Vert, and will provide the same portfolio management services to the Acquiring Fund. Joseph F. Hohn, also of DFA, is not currently a portfolio manager of the Fund but will be added as a portfolio manager of the Acquiring Fund.
The Acquiring Fund will have the same investment objective and fundamental investment policies as the Fund nearly identical investment strategies and substantially similar risks as the Fund, all as set forth in the Fund’s current Prospectus and SAI. The Acquiring Fund will also be subject to certain risks unique to operating as an ETF. A comparison of the investment policies, strategies and risks of the Fund and the Acquiring Fund will be provided in the Information Statement.
Shareholders who hold Fund shares through an IRA or other retirement plan whose plan sponsor does not have the ability to hold shares of ETFs on its platform may need to redeem their shares prior to the Reorganization, or your broker or intermediary may transfer your investment in the Fund to a different investment option prior to or at the time of the Reorganization. If you hold shares of the Fund in an account with the Fund’s transfer agent, U.S. Bancorp Fund Services, LLC (the “Transfer Agent”), or another financial intermediary that only allows you to hold shares of mutual funds in the account, you will need to contact the Transfer Agent or your financial intermediary to transfer your shares to a brokerage account that permits investment in ETF shares. Please contact your broker or intermediary for additional information.
Fund shareholders may continue to redeem shares of the Fund until several days prior to the closing of the Reorganization. Shareholders may purchase shares of the Fund in a brokerage account through a broker, until several days prior to the closing of the Reorganization, which date will be included in the Information Statement mailed to shareholders.
1
Filed pursuant to Rule 497(e)
Registration Nos. 333-133691; 811-21897
Effective immediately, shares of the Fund are no longer available for purchase directly from the Transfer Agent. All references in the Fund’s Prospectus and SAI to purchasing shares directly from the Transfer Agent are hereby removed. After the Reorganization, shares of the Acquiring Fund may only be purchased and sold in a brokerage account through a broker who will execute your trade on an exchange at prevailing market prices.
Please retain this Supplement for future reference.