Howdy folks,
My wife and I have been with TRP for decades and have been pleased as punch the entire time. Great choice for intelligent investors.
As for their international funds, they have them all for various objectives. So much depends upon what you're looking for. Over the years I have tried most of them. At this moment in time, our intl positions are minimal on equities.
Good luck
And so it goes
Peace and Flatten the Curve
Rono

At Fidelity:
PTTAX has no fees but min is $1000.
PTTNA has a fee of $49.95 to purchase
PTTRX has one million min.
None is a good choice for most investors.
At Schwab
PTTAX has no fees but min is $100.
PTTNA not available
PTTRX has one million min and a fee of $49.95.
You just proved my point.
Loomis vs Pimco. In the last several years Loomis funds never made my final 5 top funds but Pimco funds many times.
One example among many: Just several weeks ago we discussed bond funds on M*. One of the funds was CBPSX/SAMFX(instit). At Fidelity, CBPSX has $2500 min no fees, SAMFX $100K min + fee=49.95. At Schwab, CBPSX has $1000 min no fees, SAMFX has no fees + only $100 min.
I can give many others and especially funds I traded.
Many times I can find new funds at Schwab several months before they are available at Fidelity
Sure, Fidelity may have several choices that Schwab doesn't but Schwab is hands-down better.
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I actually tried Fidelity ATM several years ago at Europe and they changed me the 1% fee while Schwab didn't
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Just 2 months ago I received a cash reward of $300 when I transferred just over $100K to Schwab, you are correct, you will not find it but if you ask you will get it. I had to submit a proof that another broker does it. Etrade does (link). This offer used to be for IRAs too. Over the years I have tried many times at both and again Schwab reps worked with me much better.
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Fidelity is better at
1) Adding to Inst fund for only $5 (many don't know this choice)
2) You can sell mutual funds after 60 days without a fee, at Schwab it's 90 days.
3) 2% cash back credit card.
I beat number 1,2 by buying only Instit shares and I don't pay for that.
I use the Fidelity credit card. You can find 2% elsewhere but I like the convenience.
The most annoying for me at Fidelity is selling and buying funds on the same day and the inability to buy a stock/ETF when your account is invested completely in mutual funds.
Lastly, both Fidelity and Schwab are the top 2 for most investors but for my needs, Schwab is much better. I find Fidelity more rigid than Schwab.

Thanks, @catch22. Clear, very clear. Total return is the goal. From Trad. rollover IRA, this year is the first time I've taken anything out of there. It's all with TRP. Turns out my timing was fortuitous. (Sell HIGH, not low!) Holy cow, that's 4 syllables.
....Still re-investing everything, otherwise. I've got 7 years until age 72 and RMDs. I do have my eye on Total Return, and I'm happy with my portfolio. I pine for the days of 5% CDs. Simple, easy, insured, rather foolproof...... That one, single big chunk was taken from PRWCX. Feels big to ME, but it was just $4,000.00. We're in no tax danger. I'm holding up well, since the market's swoon. I'm into single digits tonight, in terms of the "loss" from the all-time highs back in Feb.
Thanks for thinking of me. DAMN this keyboard. I have to type everything twice.

Unfortunately, there is not going to be very high inflation. They have been saying it for years already. The economy is going to be very weak, mass layoff and high tech will continue to squeeze legacy companies and inefficiency.

This article just provides a warning about what may happen in the intermediate term when the Fed and Congress try to steer things back towards "normal". (The author didn't note this, but much of what he discusses is occurring on a global basis not just in the U.S)....
Fed actions have increased the quantity of money in the U.S. economy at a blistering rate.
By Tim Congdon

The economists Milton Friedman and Anna Jacobson Schwartz demonstrated in “A Monetary History of the United States” that a collapse in the quantity of money was the main cause of the Great Depression. Hoping to avoid a repeat, the Federal Reserve in recent weeks has poured money into the economy at the fastest rate in the past 200 years. Unfortunately, this overreaction could turn out just as poorly; history suggests the U.S. will soon see an inflation boom.
Excluding the years immediately after the Revolutionary War, the past few weeks have seen by far the highest rate of monetary expansion in U.S. history. The Fed might defend itself by saying that its “shock and awe” tactics have given financial markets confidence that the coronavirus won’t cause a long and deep recession. And its massive bond purchases—more than $500 billion between March 11 and April 1—surely won’t continue at the same rate for the rest of the year.
It’s reasonable to assume that by spring 2021 the quantity of money will have increased by 15% and possibly by as much as 20%. That wouldn’t quite match the peak rates of expansion seen during and immediately after the two world wars of the 20th century, but it could surpass peacetime records, outpacing the previous peaks in the inflationary 1970s.
As in wartime, federal expenditures are rising sharply while tax revenues are being hit by the lockdown. Both World War I and World War II—and, indeed, the Vietnam War—were followed by nasty bouts of inflation.
Mr. Congdon CBE is chairman of the Institute of International Monetary Research at the University of Buckingham, England.

I don't subscribe but for some reason the link worked for me.....
https://wsj.com/articles/get-ready-for-the-return-of-inflation-11587659836

@linter. Thanks for your question. I hold a good slug of CTFAX in my taxable account. Overall about 65 percent of my investments are held in taxable accounts since I have been an investor for the past sixty plus years from the age of twelve. And, simply stated ... I feel I'd be buying the distribution if purchased now. Yesterday, CTFAX sold down equities from an allocation of 70% to 40%. This sell activity will no doubt result in a sizeable capital gain payout in the upcoming June distribution.

@catch22, thanks for the chart link. Shows what an incredible fund PRWCX has been through the years and various markets. Chart begins a bit over 3 years before Giroux took over PRWCX.

Fidelity for me and others who like to invest in Instit funds and trade sometimes is a better choice. That's how I invest.

Fidelity?

- Schwab has a better online platform. It’s easier and more intuitive.

What's your metric? Something quantifiable, like time to complete tasks. If it can't be quantified, then the comparison is merely subjective.
For example, something I do often is look up a fund on a brokerage site. Just enter a ticker or fund name in the search box on Fidelity's home page. Easy and intuitive. Do the same search from Schwab's home page and get lots of links to scan through (for a search on fund name) or no results (for a search on fund ticker).
To get to fund data at Schwab: Use the drop down "What We Offer"; find Mutual Funds in the second column, click to next page. Scroll half way down that page for the "Browse Mutual Funds" link. Click to next page. Finally, a fund search box. Easy? Intuitive? Not.
To be fair, getting to Fidelity's fund screener is no more intuitive than getting to Schwab's. Navigation to a screener is lousy on both sites.

- Schwab offer more lower min funds. Examples: 1) All Pimco Instit shares have one million min at Fido but just $100K at Schwab. This means that for every $100K you will save $250 at Schwab per year 2) JMSIX,IISIX are NTF and Schwab but not fidelity. Many Fidelity customers buy these funds at other brokers and transfer.

How do others like you add to those Instit funds, like say, PIMIX, without incurring nearly $50 in fees every time, as opposed to $5 at Fidelity?
You're a numbers guy. Please quantify "more" in "more lower min funds". Otherwise, the comparison even if true, could be statistically meaningless, e.g. if Schwab offered 201 lower min funds while Fidelity offered 200.
What does "lower min funds" mean? Lower than stated in the prospectus? Lower than some fixed threshold? What threshold, $100K?
One can buy most Loomis Sayles Inst funds with a $2500 min at Fidelity, but they have a $100K min at Schwab. (The exceptions are LSFIX which is closed, LSIOX, LSHIX, LSIGX, and LSSAX, not offered.) You say PIMCO, I say Loomis Sayles. Naming individual funds or families doesn't substantiate the claim, let alone show that it's meaningful. Numbers please.
FWIW, All Pimco Instit shares have ... just $100K at Schwab" isn't correct. PCEIX, $1M min.

- Schwab reps will work harder to please you with fees, Fidelity reps are much tighter. In the last several years I got over $3500 cash rewards from Schwab after a transfer money from Fidelity which doesn't pay cash reward, I get free transactions on Istit share (extremely hard at Fidelity). I always ask for stuff and get it most times at

As the saying goes past performance does not guarantee future returns. Fidelity also provided sizeable bonuses in the past. Right now, Schwab isn't offering any promotion that I can find for existing customers.

- Schwab has a global ATM with a true no fees, Fidelity ATM has a 1% foreign transaction fee for other currencies

Not quite. Fidelity only reserves the right to assess the charge. Fidelity doesn't usually charge it. I even tested this a couple of years ago, by withdrawing the same amount using Schwab's card and Fidelity's. Each of the respective accounts was debited the same amount. That's when I decided that Schwab bank wasn't providing me any benefit.
Since you raised the matter of plastic, Fidelity's Visa credit card pays 2% vs 1.5% cash back from Schwab's American Express card. Amex, really?
Foreign transaction fees: After subtracting a 1% fee, Fidelity's card still nets 1% in cash rewards. Schwab's charges 2.7%, netting -1.2%. No wonder you're looking at Schwab's ATM card for foreign spending.

- Schwab target funds and ETF are cheaper than VG and Fidelity and most have just $1 min.

This is a thread about sector funds. So let's look at costs of Schwab sector funds. No tech, just a health care fund (SWHFX, 0.80% ER vs. 3 Fidelity sector funds with ERs between 0.71% and 0.76%), and a global real estate fund (SWASX, 1.05% ER vs. FIREX at 1.02%), not even any domestic real estate funds (Fidelity has two).

- Schwab doesn’t have a good sweep MM but you can just use SWVXX with competitive yield and trade in/out like any other fund and it doesn’t have a minimum. Fidelity makes it harder with several funds and different minimums.

At worst, that's a one time effort to pick the right fund. At Schwab, every time you want to make a security purchase, you have to remember to explicitly sell shares of your MMF. Fidelity takes care of this for you automatically.

Steve Eisman. One of the "Big Short" guys from '08-'09: "...Eisman did not specify which U.S. banks he was long. He also said “some” European banks would make for good short positions along with Canadian banks..." (Shorts???)
Eisman reckons the biggest US banks would be a good play..... Here's the link: (CNBC.) https://www.cnbc.com/2020/04/23/big-short-steve-eisman-likes-the-big-us-banks-after-coronavirus-sell-off.html
______________________________________________________
In addition: “The Canadian banks, I think, have not had a credit cycle in literally 30 years. They are not prepared for it and they’re going to have real problems,” he said, without specifying which banks he was betting against..."
*** Please, can someone translate that for me? Thanks.***

"I can just buy Fidelity® Select Technology Portfolio (FSPTX) with ER=0.72%. And I don't need to wait 3 years to get ER=50%"
That's true. WIth FSPTX you'll need to wait forever to get an ER of 0.50%.
"Can you find another big discount broker that has one million dollar min to buy Pimco Instit shares(example PIMIX)?"
Yes.
Can you find a big discount broker that has a $25K min (or less) to buy Pimco Instit shares (example PIMIX)?
Since you mentioned FSPTX, can you find a big discount brokerage aside from Schwab that has a $2500 min to buy the fund in a taxable account? Can you suggest brokerages where one can buy this fund without a fee?
Schwab apparently meets your needs. I'm happy for you, really. It's a great brokerage. But your needs are not the same as those of others.
You wrote that you "never tell [others] to use [your] style, never, [you] helped them using their style." That makes the blanket marginalization of Fidelity ("lost its way") tantamount to saying that independent of an investor's style, Fidelity is a poor choice.
When Schwab makes additional purchases of share classes like PIMIX available for less than $10/purchase, I'll consider it. When Schwab starts letting me pay bills out of a cash account with a decent yield (not just 0.05%), I'll consider it. Until then, it doesn't meet my needs.

You got it. Fidelity for me and others who like to invest in Instit funds and trade sometimes is a better choice. That's how I invest. If you just buy and hold then VG maybe your choice.
- Schwab has a better online platform. It’s easier and more intuitive.
- Schwab offer more lower min funds. Examples: 1) All Pimco Instit shares have one million min at Fido but just $100K at Schwab. This means that for every $100K you will save $250 at Schwab per year 2) JMSIX,IISIX are NTF and Schwab but not fidelity. Many Fidelity customers buy these funds at other brokers and transfer.
- Fidelity has strict trading rules not found anywhere else and not mandated by agency, SEC or anybody else. Examples:
1) if you sell a fund in your IRA, you can't buy another online, you must call a rep and spend time
2) Even if you sold a fund and call a rep you can only buy at 90% of the proceed. At Schwab it’s easy, you sell your fund and just enter another fund. For bond fund I buy at 99.5% for stock funds I buy at 98-99% because I look at what markets are doing
3) Suppose you own mutual funds in your IRA and you don't have any cash and want to buy a stock/ETF, you can't do it, you must sell your fund and wait one say for settlement. At Schwab, you just buy your ETF, see how much you own and sell your mutual fund to cover it. This is a huge advantage for me. Over the years I'm invested at 99+% but I trade several times annually. That means thousands of dollar which I can't do at Fidelity because I must have it in cash.
4) Schwab doesn't care if you trade their funds, Fidelity will punish you on a roundtrip less than 30 days.
I basically want all the flexibility I need/want.
- Schwab reps will work harder to please you with fees, Fidelity reps are much tighter. In the last several years I got over $3500 cash rewards from Schwab after a transfer money from Fidelity which doesn't pay cash reward, I get free transactions on Istit share (extremely hard at Fidelity). I always ask for stuff and get it most times at
- Schwab was always/mostly the leader for lowering fees vs Fidelity
- Schwab has a global ATM with a true no fees, Fidelity ATM has a 1% foreign transaction fee for other currencies
- Schwab IT is more advanced and faster. Example: Funds dist are placed in your account on the same day at Schwab. It takes Fidelity most times 2 more days. Fidelity FULL VIEW(where they link all accounts from other institutions) was broken for months and still can be off. Schwab has a similar feature and it works better and faster. If you traded funds you will see it at Schwab the same date with all the settlement while it takes Fidelity longer.
- Schwab target funds and ETF are cheaper than VG and Fidelity and most have just $1 min.
- Schwab doesn’t have a good sweep MM but you can just use SWVXX with competitive yield and trade in/out like any other fund and it doesn’t have a minimum. Fidelity makes it harder with several funds and different minimums.
- In the last 2-3 year, Fidelity reps knowledge deteriorated significantly.
- At tax time I have been waiting at Fidelity 15-20 minutes for a rep to answer while I never waited more than 1-2 minutes at Schwab.

Honestly, you are 100% misinformed on Fidelity. If you sell a fund in your IRA, you can’t buy another online? That’s just straight up false.

"I can just buy Fidelity® Select Technology Portfolio (FSPTX) with ER=0.72%. And I don't need to wait 3 years to get ER=50%"
That's true. WIth FSPTX you'll need to wait forever to get an ER of 0.50%.
"Can you find another big discount broker that has one million dollar min to buy Pimco Instit shares(example PIMIX)?"
Yes.
Can you find a big discount broker that has a $25K min (or less) to buy Pimco Instit shares (example PIMIX)?
Since you mentioned FSPTX, can you find a big discount brokerage aside from Schwab that has a $2500 min to buy the fund in a taxable account? Can you suggest brokerages where one can buy this fund without a fee?
Schwab apparently meets your needs. I'm happy for you, really. It's a great brokerage. But your needs are not the same as those of others.
You wrote that you "never tell [others] to use [your] style, never, [you] helped them using their style." That makes the blanket marginalization of Fidelity ("lost its way") tantamount to saying that independent of an investor's style, Fidelity is a poor choice.
When Schwab makes additional purchases of share classes like PIMIX available for less than $10/purchase, I'll consider it. When Schwab starts letting me pay bills out of a cash account with a decent yield (not just 0.05%), I'll consider it. Until then, it doesn't meet my needs.

You got it. Fidelity for me and others who like to invest in Instit funds and trade sometimes is a better choice. That's how I invest. If you just buy and hold then VG maybe your choice.
- Schwab has a better online platform. It’s easier and more intuitive.
- Schwab offer more lower min funds. Examples: 1) All Pimco Instit shares have one million min at Fido but just $100K at Schwab. This means that for every $100K you will save $250 at Schwab per year 2) JMSIX,IISIX are NTF and Schwab but not fidelity. Many Fidelity customers buy these funds at other brokers and transfer.
- Fidelity has strict trading rules not found anywhere else and not mandated by agency, SEC or anybody else. Examples:
1) if you sell a fund in your IRA, you can't buy another online, you must call a rep and spend time
2) Even if you sold a fund and call a rep you can only buy at 90% of the proceed. At Schwab it’s easy, you sell your fund and just enter another fund. For bond fund I buy at 99.5% for stock funds I buy at 98-99% because I look at what markets are doing
3) Suppose you own mutual funds in your IRA and you don't have any cash and want to buy a stock/ETF, you can't do it, you must sell your fund and wait one say for settlement. At Schwab, you just buy your ETF, see how much you own and sell your mutual fund to cover it. This is a huge advantage for me. Over the years I'm invested at 99+% but I trade several times annually. That means thousands of dollar which I can't do at Fidelity because I must have it in cash.
4) Schwab doesn't care if you trade their funds, Fidelity will punish you on a roundtrip less than 30 days.
I basically want all the flexibility I need/want.
- Schwab reps will work harder to please you with fees, Fidelity reps are much tighter. In the last several years I got over $3500 cash rewards from Schwab after a transfer money from Fidelity which doesn't pay cash reward, I get free transactions on Istit share (extremely hard at Fidelity). I always ask for stuff and get it most times at
- Schwab was always/mostly the leader for lowering fees vs Fidelity
- Schwab has a global ATM with a true no fees, Fidelity ATM has a 1% foreign transaction fee for other currencies
- Schwab IT is more advanced and faster. Example: Funds dist are placed in your account on the same day at Schwab. It takes Fidelity most times 2 more days. Fidelity FULL VIEW(where they link all accounts from other institutions) was broken for months and still can be off. Schwab has a similar feature and it works better and faster. If you traded funds you will see it at Schwab the same date with all the settlement while it takes Fidelity longer.
- Schwab target funds and ETF are cheaper than VG and Fidelity and most have just $1 min.
- Schwab doesn’t have a good sweep MM but you can just use SWVXX with competitive yield and trade in/out like any other fund and it doesn’t have a minimum. Fidelity makes it harder with several funds and different minimums.
- In the last 2-3 year, Fidelity reps knowledge deteriorated significantly.
- At tax time I have been waiting at Fidelity 15-20 minutes for a rep to answer while I never waited more than 1-2 minutes at Schwab.

@Bobpa
They're all HERE beginning in 2003 (except CBUZX, which couldn't be identified to chart). They're not twins/same style, some have loads, unless you have a way around that (i.e., your brokerage). There has likely been management changes over the years and as usual, some investments are more in the right place at the right time........so, they won't align in returns every year.
What are you attempting to do???

"I can just buy Fidelity® Select Technology Portfolio (FSPTX) with ER=0.72%. And I don't need to wait 3 years to get ER=50%"
That's true. WIth FSPTX you'll need to wait forever to get an ER of 0.50%.
"Can you find another big discount broker that has one million dollar min to buy Pimco Instit shares(example PIMIX)?"
Yes.
Can you find a big discount broker that has a $25K min (or less) to buy Pimco Instit shares (example PIMIX)?
Since you mentioned FSPTX, can you find a big discount brokerage aside from Schwab that has a $2500 min to buy the fund in a taxable account? Can you suggest brokerages where one can buy this fund without a fee?
Schwab apparently meets your needs. I'm happy for you, really. It's a great brokerage. But your needs are not the same as those of others.
You wrote that you "never tell [others] to use [your] style, never, [you] helped them using their style." That makes the blanket marginalization of Fidelity ("lost its way") tantamount to saying that independent of an investor's style, Fidelity is a poor choice.
When Schwab makes additional purchases of share classes like PIMIX available for less than $10/purchase, I'll consider it. When Schwab starts letting me pay bills out of a cash account with a decent yield (not just 0.05%), I'll consider it. Until then, it doesn't meet my needs.

Inflation? My starting point, from decent definition: Inflation is a measure of the rate of rising prices of goods and services in an economy. Inflation can occur when prices rise due to increases in production costs, such as raw materials and wages. A surge in demand for products and services can cause inflation as consumers are willing to pay more for the product.
Obviously, there are several common areas that may cause broad inflation. Broad inflation, however; may be impacted more from some select sectors and how these sectors affect an individual household, IMHO. Example: While both personal healthcare needs (insurance, meds, etc.) and technology (computers, smart phones) are of great benefit for a household; their inflation paths likely have a bigger bang for the buck, over time. We have supplemental health insurance through United Health....it's expensive, well; until you need it. So, the offset, to pay for the insurance could be to buy United stock or a healthcare fund that has United stock as part of the portfolio. We may think the insurance cost is way out of line, but if this is the case; then holding the stock/fund should be of benefit and effectively the profit will pay for the premiums over time. As for technology and the consumer side, is that one has been able to upgrade, if desired; the ability of the product.......computers, smart phones, flat screen televisions, etc. If one has been investing in technology over the years, the likely profits have more than paid for the tech. upgrades one desires.
Investing in growth should provide, over time; enough to overcome broad inflation. Though a S&P 500 investment product should provide for growth too, as a reflection of the economy; for us, there remain sectors in the S&P 500 which we do not choose to invest, although this investment offers diversification. There are numerous quality growth funds, etf's or sectors within the growth area, to choose. Healthcare and tech. are ,of course; subject to their own problems with performance over time periods.......as in legislation that may affect profits, etc.; or too expensive and the big money takes profits and runs to another sector. Such, is the nature of all investing, eh?
OPPS, ADD: CPI (gov't. only data) 1971- April 10, 2020 = 537.3% AND Jan., 1999 - April 10, 2020 = 54.5%
NOTE: Our investment portfolio is fully tax deferred (IRA's), so we do not have to be concerned with buys/sells or capital gains when moving our investments. Taxable accounts will have other considerations; although long term investing in growth should not be set aside for this reason, IMHO.
My 2 cents worth.
The below chart is a line graph, for an easier view of returns; click the lime green/red icon at the bottom left of the chart screen for a bar graph. You may return to the line graph when clicking the icon adjacent.
This CHART starts at Jan. 4, 1999 comparing FSPHX, FSPTX and the S&P500.
Take care of you and yours,
Catch

So, instead of buying Fidelity Disruptive Technology Fund (FTEKX) with ER=1% I can just buy Fidelity® Select Technology Portfolio (FSPTX) with ER=0.72%
And I don't need to wait 3 years to get ER=50%.
Fidelity lost its way for several years now. Please give me other family funds for lower min and more Inst fund with no fees and please let me sell a fund and buy another online on the same day without calling a rep...or...buy a stock and then sell a mutual fund to cover it when I don't have any cash(doable at Schwab). Can you find another big discount broker that has one million dollar min to buy Pimco Instit shares(example PIMIX)?

I'm a fan of sector funds, in small pieces. They can become big pieces in the right environment.
A few years ago, I had put some money in the Fidelity Biotech fund FBIOX. It hit a favorable spell and grew quickly. I decided the pace was unsustainable and took most of my money off the table (this is in my IRA). It dropped a lot soon thereafter -- lucky me.
(BTW, it's doing well again, because of the hope for a Covid-19 vaccine I think.)
I wish I had bailed out of FSELX (Select Semiconductors) in mid-February. The last year was boom times for it and I knew that our holdings had become too large a share of our portfolio, but resisted selling. "You gotta know when to hold 'em and know when to fold 'em".
At the other end of the spectrum, I don't expect AKRIX to be so volatile.
I'll probably open starter positions in the new Tech and Medicine Fidelity funds.
David

If this appeals at all, consider making a minimum investment and waiting three years. Then all investments will receive the lowest share class ER.
This differs slightly from the way class B shares were handled by load funds. Traditionally any new B share you bought would have its own clock. After a certain number of years (typically 5-10) the share would automatically convert to the cheaper A class share.
Which makes me surprised that Barron's considers "time based pricing" something new for the industry. Fidelity is simply converting shares from the initial share class to Loyalty Class 1 shares, and later to Loyalty Class 2 shares. Same idea as converting B shares to A shares based on time.

YOU have 60 days to return it from date of distribution, I believe I read. Although that may be from CARES implementation.
(Already taken out your 2020 RMD but wish you hadn’t? You might be able to roll over distributions you’ve already taken for 2020, says Slott. If you've already received a distribution from your own IRA or one inherited from a spouse for 2020, you can roll it back into your IRA within 60 days of receipt. ]

A couple of tweaks.
The "classic" 60 day rule is that the clock starts from the date you receive the distribution, not from the date the distribution is made. It can take a few days to receive the check in the mail.
https://www.irahelp.com/slottreport/6-facts-every-ira-owner-should-know-about-60-day-rollover-rule
CARES extended the time from 60 days to three years, and allowed the money to be deposited back into an IRA in pieces. But these modifications apply only to the first $100K withdrawn, and then only if it was withdrawn because of a COVID-19 created need.
The inherited IRA rule is not that you are rolling it back into the inherited IRA. It must be rolled over into an IRA owned by the beneficiary (spouse). As Kitces writes:

(Nerd Note: The lone exception for beneficiaries would be for a spouse who chose to remain a beneficiary of the deceased spouse’s retirement account. In such an instance, they may be eligible to put the RMD back into their own retirement account, as a spousal rollover, using one of the methods described above.)

Inflation... Hmmm... the dollar is ALWAYS smaller, where I live. Things are much more expensive, ALWAYS. People are getting "weeks to the gallon" through this crisis, and they're happy about it, both here and on the Mainland. Gas is down to just above $3 here. I just called the Canadian Pharmacy. Wanna talk about "inflation?" If I ordered my prescription at the local drugstore, my co-pay would be $132. Via the Canadian outfit? (Pay by credit card, of course) it's $26. Is that "inflation" or EXTORTION?
Several incomes in our household, so prices never really cause pain. Where to invest? I'm thinking TECH. All the things the younger generation is already "into," but guys like me always shun. Dunno about single stocks. I leave it to the fund managers. Remote conferencing, the "cloud," every new gadget has a consumer-base ready and willing and anxious to buy it. I don't have to look any farther than my own kitchen table. And the little shaver? Already SO addicted to "getting lost in that hopeless little screen." (Leonard Cohen.) He's all of 3 years old. Around the table, each person who might happen to be there is on their own little hand-held device. Sometimes 4 of them. Conversation? Connection?
The lesson here? The manufactured preoccupation with what that little screen is showing you is more important than the PEOPLE around you.
"As a marginalized member of a spectator democracy, you choose your own dependencies.... Don't think of it as manufactured consent. Think of it as the Candy Everybody Wants."

...but doesn't he have a real nice boat somewhere?
Would have been better off laddering CDs and investing in 90 day Tbills over the past 5 years...and you wouldn't have had to pay state taxes on the Tbills, nor his management fees.
...maybe he's going to return the management fee monies like Harvard U?