The IRS has never said what funds might constitute substantially identically securities (and thus trigger a wash sale).
I'd wager it's fair to say that the vast majority of people ("experts" if you wish) agree with McGowan that swapping an actively managed fund for an index fund or different actively managed fund would be safe. There's less of a consensus on swapping index funds.
Even swaps of index funds tracking the same index might not trigger a wash sale. (IMHO it's not worth the risk.) Different funds may use different sampling techniques, resulting in different market exposures and thus not constitute substantially identical securities. This may be especially true with bond funds or with funds having a bit of "wiggle room" in how they track their indexes.
Coming from the opposite direction, one might regard two index funds that track different indexes of the same market segment as substantially identical (since the investment exposure could be viewed as substantially identical). For example, IWV (R3K - 97% market coverage) vs. WINDX (W5K).
The 30/60 day rule is that you have a wash sale if you purchase a substantially identical security within 30 days of the loss sale. That's 30 days before the sale to 30 days after the sale, inclusive. So if you repurchase within that 61 day window, you've got a wash sale.
It's always puzzled me why fund investors would think about repurchasing the same fund 31 days after having put the proceeds into a substitute fund. If you put the the money in the substitute fund (here, DODIX), you do it in anticipation of the fund appreciating. So after taking a loss, you're going to turn around right away and recognize a short term gain? What's the point in that?
If you're figuring that you're not going to make (much) money on the replacement fund, then why invest in it for 31 days? You don't expect to gain, so you're just putting your money at risk.
I'd rather buy a replacement fund that I like and want to keep.

"As long as the shadow price remains in the range of $0.9950-1.1050, the money market funds can price their portfolio at a stable $1 NAV per share."
Whoops. $1.0050. Which is the whole point of the article (i.e. watch that the NAV of MMFs stay within half a penny of a buck.)

This may help get my question answered...
https://finance.zacks.com/substantially-identical-mutual-funds-5850.html Avoiding a Wash Sale
An article by Lee C. McGowan, CFP in the Journal for Financial Planning gives some guidelines concerning replacement mutual funds and the substantially equal restriction. The article suggest that the following transactions should not trigger a wash sale: Selling an index fund and buying an actively managed fund. Selling an actively managed fund and buying an index fund. Selling an index fund and buying an index fund tracking a different stock index. Selling an actively managed fund and buying a fund managed by a different fund company and manager.

@Bobpa: Short and Intermediate Bond Fund rankings from U.S. News & World Report.
Regards,
Ted
75 Short-Term Bond Funds:
https://money.usnews.com/funds/mutual-funds/rankings/short-term-bond
139 Intermediate Bond Funds
https://money.usnews.com/funds/mutual-funds/rankings/intermediate-term-bond

I'll speculate than if there continues to be about "10,000" baby boomers per day retiring; and a wild guess that if only 1/3 of them had a 401k/403b/457 plans; and that the majority of them perform an IRA rollover, then I will also speculate that they choose not to or don't have access to some of the funds available to them prior......some rotation of types of investments post-retirement will take place, by chance, by choice, by force or by advisor.
An example of an excellent active managed fund, which is closed; is FDGRX . However, this fund remains open to new money within many Fidelity operated company retirement accounts. The question remains going forward is if there will be more "outbound" money, versus "inbound" money in company retirement accounts going forward until the last of the boomers retire in 2029.
Note: other share classes of such a fund may vary among retirement plans.
http://www.pewresearch.org/fact-tank/2010/12/29/baby-boomers-retire/
Take care,
Catch

FYI: Investors continue to dump higher-priced funds in favor of lower-priced fare--not only in U.S. stock categories, but in foreign-stock and bond categories, too.
That's one takeaway from the results of our survey of individual funds that investors sold in 2017. (Last week we covered the top 25 funds they've been buying.) The good news for active funds was that the 2017 outflow was minimal compared with previous years, though, said Alina Lamy, a senior analyst in Morningstar's Quantitative Research Group
Regards,
Ted
http://www.morningstar.com/articles/845735/25-funds-investors-dumped-in-2017.print.html

@ Crash & MFO Members: Just as a frame of reference, EWJ was down -(4.73)% yesterday, -(8.20 since 1/26, and -(0.93)5 YTD.
Regards,
Ted

Direxion has an interesting history. As Potomac Funds, they originally offered 1.25x leveraged funds, and made a fair case for them. They also explained why higher leverage doesn't work well - because of rapidly growing costs of leverage as the multiplier increases, and because of the harmful interaction between multipliers and compounding (with ups and downs in daily prices).
Here's what they used to offer:
https://denvertradinggroup.com/wp-content/uploads/dtg-platinum/Trading/125approach.pdf
If you wanted a leveraged product, these struck me as rather sensible. Which of course meant that they didn't sell. So in 2006 they abandoned their reasoning and principles, and sought to market the most highly leveraged funds available. First to offer 2.5x in 2006, and 3x in 2008.

I just looked. Nikkei was at a high on 22 January. Through yesterday, 05 Feb, Nikkei is down from that "top" by -10.42%. Makes me salivate re: TRP PRJPX.

GLFOX is on the chopping block - The Trump effect had little positive impact on this Global Infrastructure fund since the election.

Top 1/3 (34/99) over the past year (though dismal YTD). Here I am, again sounding like a broken record: this fund is currency hedged, so it will underperform as the dollar sinks. A likely event with Mnuchin talking down the dollar.
I unwind taxable positions slowly. It takes me a long time to decide to give up on a fund, and even then, I'm just as likely wrong as right. Some funds never regain their "magic", others do as conditions change. So far, GLFOX wouldn't even be on my sell list - a few (really) bad months under adverse conditions don't tell me its best days are past. Though my thinking is more oriented toward broad based funds and not sector funds. One might want to rotate out of a sector regardless of how good or bad an individual fund is.
As a long term investor, for me it's not so much a matter of taking losses as minimizing gains. So I sell just the highest cost shares at first, gradually selling more if a fund continues to prove to be past its prime.
I just liquidated one fund (at the beginning of 2018) that had continued to underperform. Yet another fund I own (and had sold some of the higher cost shares), has come back to 4 stars, meaning that it's outperformed recently (to recover its stars) and even long term has provided solid returns.
If the market takes a nosedive and I do have underwater shares in a fund on my "unwind" list, I sell them quickly, but in order to swap into a preferable fund, not to hold cash. I don't try to time these things.

GLD and THIIX up a teeny bit. OSTIX and FFRHX pretty much no change. QMNIX down less than 1%. All in all, about what I would have expected. I am still comfortable with my overall allocation, which stands at 20% bonds, 28% alternatives, and 52% domestic & international stocks. YTD am pretty much flat, and that's ok.

FYI: A recent filing from Direxion outlines plans for half a dozen ETFs that will offer 2x and 3x leverage in three key areas. The funds and their expense ratios are as follows:
Direxion Daily Lithium Bull 2X Shares, 1.09%
Direxion Daily Robotics & Artificial Intelligence Bull 2X Shares, 1.07%
Direxion Daily Preferred Stock Bull 2X Shares, 0.90%
Direxion Daily Lithium Bull 3X Shares, 1.24%
Direxion Daily Robotics & Artificial Intelligence Bull 3X Shares, 1.22%
Direxion Daily Preferred Stock Bull 3X Shares, 1.05%
Regards,
Ted
http://www.etf.com/sections/daily-etf-watch/direxion-plans-6-leveraged-etfs

S&P 500 futures over 3% below cash closing price. This likely has a lot to do with the drop. I'm glad I am not a trader. https://www.cnbc.com/2018/02/05/xiv-exchange-traded-security-linked-to-volatility-plummets-80-percent.html

FCBFX = +.35%

I own CHSCN and CHSCL pfds., I managed to buy them on the IPOs. They had a good day but have been dropping lately as rates have been rising. CHSCP pfd could have been called at $25 par but since it was mainly owned by the farmers in their co-op, CHS did not call it, kept it going, and it trades at $29.20 today.

I note 1 which I own, and 1 which I constantly watch: PRSNX up .01 cent. And DODIX up by .04 cents. PRDSX small caps did the worst, down -3.55%.

FYI: The Dow Jones Industrial Average wiped out all of its year-to-date gains for 2018 as the stock market unraveled on fears of rising bond yields. The Dow DJIA, -4.35% shed 1,500 points at its low and was recently off 1,055 points, or more than 4%. That intraday move erased all of its gains, pushing it negative, down 1% for 2018 after boasting a return of nearly 6% at the end of January. The Dow was down 838 points, or 3.3%, at 24,695, while the S&P 500 index SPX, -3.88% was off 2.7% at 2,688. The broad-market benchmark was still up 0.6% for the year, but had erased much of its more than 5% gain in January. The Nasdaq Composite Index COMP, -3.53% was off 2.1% at 7,088, retaining a 2.7% return.
Regards,
Ted
Bloomberg:
https://www.bloomberg.com/news/articles/2018-02-04/asia-stocks-brace-for-selloff-bond-rout-deepens-markets-wrap
Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-lower-as-losses-in-energy-bank-stocks-weigh-idUSKBN1FP1OR
MarketWatch:
https://www.marketwatch.com/story/us-stocks-poised-for-fresh-selloff-as-dow-futures-slide-120-points-2018-02-05/print
IBD:
https://www.investors.com/market-trend/stock-market-today/stocks-derail-big-oil-leads-losses/
CNBC:
https://www.cnbc.com/2018/02/04/us-stocks-interest-rates-futures.html
AP:
http://hosted.ap.org/dynamic/stories/F/FINANCIAL_MARKETS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT
Bloomberg Evening Briefing:
https://www.bloomberg.com//news/articles/2018-02-05/your-evening-briefing
WSJ: Markets At A Glance:
http://markets.wsj.com/us
SPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-tracker
SPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectors
Current Futures: Negative
https://finviz.com/futures.ashx

Interesting article on a fund that is rarely mentioned on the MFO Discussion board, but has been around since 1935, LEXCX:
dividendgrowthinvestor.com/2015/11/time-in-market-is-your-greatest-ally-in.html

To the original poster: steer clear of risk, I suppose, at age 85. No heirs? Will you tactically spend-down what you have? Or plan to give it to a charity or non-profit? The market is going through a major tantrum just now, but it could end anytime. Just steer clear. A conservative bond fund is the first thing to hit me, to offer an answer to your question. That means "core." Think DODIX and the like.But that fund pays quarterly, not monthly.

@Bee, good one. Always enjoy your posts. Have a sister who moved from NJ to Florida a few years back. Still have a brother in law in Summit, both retired. One of the worst towns for taxes.

I'm sure it feels that way, because NJ property tax rates are high almost everywhere, and Summit has some of the highest property values in the county. (It's at the eastern edge of the county closest to NY, is a "neighbor" of Millburn, is located at the convergence of two train lines to NY, and has a real downtown, unlike many other nearby communities. And some very nice homes.)
Nevertheless, Summit has the lowest effective tax rate in the county. (Effective rate meaning rate on actual property values, as opposed to assessed values that may not represent the actual values). A "mere" 1.85%
http://www.state.nj.us/treasury/taxation/pdf/lpt/gtrunion16.pdf