Your other post was on pension valuation which is a controversial concept. You don't need to do that at all.
Instead, do an income-gap analysis. Add up all of your estimated annual expenses; subtract your VA pension, Social Security (if any; you didn't mention it), and any other steady income stream(s). The difference is the income-gap that has to be covered by your portfolio. Incidental expenses would be extra.
I think you can handle $500K portfolio DIY. It may cost 1.0-1.50% on top of fund fees etc to use an advisor.

I don’t post here much, but I do follow the website each day.
So, in turn we are both turning 60 this year. I am military retired and work part time. My spouse works full-time for an insurance broker doing accounting procedures. I have been doing my own investing over the years and mine is at Fidelity and hers at T Rowe Price. I started hers at TRP when she was a green card holder and is now a dual citizen and has been this way for 20+ years.
We are both in generally good health. I have my aches and pains left from the military though which are covered by the VA. Our medical insurance is through Tricare and the other insurances (dental, eyes, car & house) comes through her work at discounted price. We purchased long term care insurance a few years ago for a cheap price for $4k a month if we ever need it.
Our current medical insurance is through Tricare (Humana Military). When we turn 65 will have to get Medicare as primary payer and Tricare for Life becomes secondary payer. We will continue to get our drugs through Medicare/Tricare
So, my wife has suggested to me that I get an advisor to manage what we have so it lasts throughout our lives and have a good time traveling seeing friends and family. Not so quick, wifey, I think I’ve done a good job of investing and saving.
Even took money out of Roth IRA and paid off the house, and this still leaves us over $1/2m to have a good time with.
My military retired check covers all the bills including the insurance coverages, plus some left over. Her pay and my pay collect in savings accounts for vacations, household repairs etc.
So, the odd question everyone has about their portfolio is what to do with it. Where do I put it? I had posted a thread under What is Pension worth: Old_Joe had mentioned to create a new thread in other investing in what to do with your portfolio now. We don’t have anyone to leave our money too, so now it’s time to spend it. But where do we put it.
So here I am:
Her’s
PRWCX – Capital Appreciation
PRHSX – Health Science
PRFDX – Equity Income
TREMX – Emerging Europe, bought it when price tanked 2.60 share
PRSVX – Small Cap Value
His
VWENX – Wellington
FSMEX – Medical Tech & Devices
TRMCX – Mid Cap Value
FIEUX – Europe Fund
FSCOX – Small Cap Foreign
FXAIX – S&P 500 Fund

Scroll a bit for the transcript. The interview was at M* MIC 2023 in Chicago.
https://www.morningstar.com/articles/1153877/liz-ann-sonders-navigating-a-new-temperamental-era-in-markets

Fine line between reality and make believe these days....
So.
All these bank issues remind me of what Marc Faber (the guy you don't see on the shill networks anymore because he speaks truth which don't agree with the political/social views of the censors I mean management of said networks) was saying in recent times.
Said to Diversify. What does that mean. Get a good portion of your monies in another currency outside the dollar, US Stonk, Bond market...meaning you need to get your monies outside of the US, Canada, Aussie..the 5 eyes countries...
Makes you wonder if he is right....and I would have no idea as to how to go about doing that...
Good Luck to ALL

@hank, M* now backs out the shorting- and leverage-related expenses from the ER, and calls it adjusted-ER. Years ago, M* controversially stated only the adjusted ER, and argued vigorously about it, but since it started its own asset management business, it changed its practice to include both adjusted and total ERs. As far as the SEC is concerned, the total ER must be stated, but optionally, an adjusted ER (with explanations) may also be included.
There are historical reasons why the SEC has required inclusion of these costs in the ER and one of these was that the OEFs campaigned for this in the 1940s because there were concerned about the unfair advantages that CEFs may have due to leverage.
@JD_co, I missed that 4.74% -1x (inverse) SP500 position in the holdings.

LCR is ETFs based and is long only. Inception was 1/6/20. ER is high for an ETF.
Surprisingly, their M* charts are similar since 1/6/20 (StockCharts doesn't recognize LCR).

It looks like LCR uses inverse ETFs to address the "short" side. SPND (Direxion Daily S&P 500® Bear 1X ETF) was recently the 4th largest holding.

Despite its sharp drop, the regional bank KRE is still +54.4% above its pandemic/2020 low. And now we are having a regional banking crisis, but this subsector hasn't yet reached panic-washout stage. I may take a bite at low-30s.
https://stockcharts.com/h-sc/ui?s=KRE&p=D&yr=3&mn=6&dy=0&id=p94432364595

“On Monday, the question was raised as to whether the 2023 banking crisis was near an end, thanks in part to the largesse of JPMorgan. On Tuesday, Wall Street answered with a Bronx cheer. Investors targeted two more regional banks while taking the broader market down with them. PacWest and Western Alliance led the big selloff in regional lenders as trading in both triggered multiple volatility halts. PacWest fell 28% to close at a record low while Western Alliance tumbled 15%.
“The KBW Regional Banking Index dropped 5.5% on Tuesday, the most since the crisis began back in March. Charles Schwab, a brokerage with a banking arm that’s come under pressure by the recent rout, fell 3.3%. And they weren’t the only victims: Comerica and Zions Bancorp each tumbled more than 10% while Metropolitan Bank Holding dropped 20%.”
Story

$10k minimum to get in. Not a problem for some of us. ADJUSTED ER is 1.16%.
Morningstar:
It has provided superior returns compared with peers, but subpar returns compared with the category benchmark...When adjusting for risk, this fund is competitive. The share class led the index with a higher Sharpe ratio, a measure of risk-adjusted return, over the trailing 10-year period. This strategy also delivered a smooth ride for investors, with a relatively low standard deviation of 8.2%, compared with the benchmark’s 12.0%. Finally, the share class proved itself effective by generating positive alpha, over the same 10-year period, against the category group index: a benchmark that encapsulates the performance of the broader asset class.
Still, 0.85% sounds high for an ETF. I dunno about the composition of the portfolio compared to the OEF.

International Business Machines Corp. Chief Executive Officer Arvind Krishna said the company expects to pause hiring for roles it thinks could be replaced with artificial intelligence in the coming years. Hiring in back-office functions — such as human resources — will be suspended or slowed, Krishna said in an interview. These non-customer-facing roles amount to roughly 26,000 workers, Krishna said. “I could easily see 30% of that getting replaced by AI and automation over a five-year period.” That would mean roughly 7,800 jobs lost. Part of any reduction would include not replacing roles vacated by attrition, an IBM spokesperson said.
Story
ISTM one of these AI gizmos ought to be able to run a mutual fund better than a human can - perhaps consistently outperforming the S&P. (Not to mention… a lot more cheaply)

@jafink63... I would suggest that you-
• 1) Sit down and map out your total annual dependable income from all sources.
• 2) Do the same for all of your predictable and repeatable annual expenses. Hopefully the income will exceed the expenses. Will it be necessary to draw down your retirement accounts to meet those expenses? If so, an additional level of careful planning will be necessary. Consider that inflation is certain to increase your expenses, but not necessarily your income.
• 3) Consider what resources you may have for unanticipated expenses- primarily health care. Would an illness requiring expensive or extended health care be covered by insurance?
• 4) If it looks like your retirement income will cover your expenses, and you have decent health care coverage, then (and only then!) can you look forward to spending down your retirement savings.
• 4) With respect to "where do we put it", I'm sure that you will get many responses from the folks here at MFO. My personal input: I believe that we are heading into a period of financial system instability which will likely take a couple of years to sort itself out.
During that period you should want to keep your savings as safe as possible. I suggest consideration of laddering fairly short-term (3 months to 2 years) FDIC insured Certificates of Deposit, or similar maturity Treasury instruments. These types of instruments are easily available through brokerages such as Fidelity or Schwab. We personally use Schwab, but many MFO posters would also recommend Fidelity.
For more information about these types of investments you might take a look at the "New to Brokered CDs" thread, and also the "Best Returns on Currently Available CDs or Treasuries Maturing 2024 to 2025" thread.
Best of luck in retirement- I can testify that my wife and I are certainly enjoying ours.

Another look at what happened to FRC:
cws-market-review-may-2-2023

INTERESTING COMMENTARY BY DAVID IN THIS MONTH'S issue. I think LCORX is a great fund which theoretically could be the only fund you need to own because it can invest anywhere and hold any market asset. The problem I have with it is the ER it charges 1.38%. They now have an ETF which appears to have the same strategy and it's ER is .85%. Is the ETF sufficiently similar that it will out perform the mutual fund?

@Mark,
Just looking at the Tastyworks website know called TastyTrade. They appear to be more of a trading platform. A tasty one I assume.
They are offering a $3K transfer bonus (on $250K)...tastier than most offers. They also appear to have the ability to set up and manage a Trust account which I would like to know more about.
Anyways, here is the website and their account types:
tastytrade.com/accounts/
Promotion:
tiered-opening-promotion-2023

update:
https://www.sec.gov/Archives/edgar/data/277751/000119312523132163/d10125d497.htm
497 1 d10125d497.htm 497
Janus Investment Fund
Janus Henderson International Opportunities Fund
(the “Fund”)
Supplement dated May 2, 2023
to Currently Effective Prospectuses
and Statement of Additional Information
On January 27, 2023, the Board of Trustees of the Fund approved an Agreement and Plan of Reorganization that provides for the merger of the Fund with and into Janus Henderson Overseas Fund (the “Acquiring Fund”) (the “Merger”).
The Merger is subject to certain conditions, including approval by shareholders of the Fund.
The Merger is expected to be tax-free for federal income tax purposes; therefore, Fund shareholders should not realize a tax gain or loss as a direct result of the Merger. The Merger, however, may accelerate distributions, which are taxable, as the tax year for the Fund will end on the date of the Merger. In connection with the Merger, shareholders of each class of shares of the Fund will receive shares of a corresponding class of the Acquiring Fund approximately equivalent in dollar value to the Fund shares owned immediately prior to the Merger. Only Fund shareholders as of February 24, 2023, are eligible to vote on the Merger. Therefore, if you purchased shares of the Fund after February 24, 2023, and assuming shareholders of the Fund as of that date approve the Merger, any shares of the Fund you hold as of the Merger closing date will automatically be converted into shares of the Acquiring Fund.
Effective February 13, 2023, the Fund closed to new shareholders. Until such time as the Merger is implemented, existing shareholders of the Fund may continue to purchase shares of the Fund, unless the Board of Trustees determines to limit future investments to ensure a smooth transition of shareholder accounts or for any other reason. Shareholders of the Fund may redeem their shares or exchange their shares for shares of another Janus Henderson fund for which they are eligible to purchase at any time prior to the Merger. Any applicable contingent deferred sales charges (“CDSC”) charged by the Fund will be waived for redemptions or exchanges through the date of the Merger. Exchanges by Class A shareholders into Class A Shares of another Janus Henderson fund are not subject to any applicable initial sales charge. Please check with your intermediary regarding other Janus Henderson funds and share classes offered through your intermediary.
A full description of the Acquiring Fund and the terms of the Merger are contained in the proxy statement/prospectus dated March 14, 2023, that was sent to shareholders of record as of February 24, 2023. The Fund and the Acquiring Fund have similar investment objectives, principal investment strategies, and risks. The portfolio managers of the Acquiring Fund will continue to manage the Acquiring Fund if the Merger is approved, and the Acquiring Fund’s stated investment objective and policies will not change as a result of the Merger. Janus Henderson Investors US LLC (the “Adviser”) encourages you to read the proxy statement/prospectus as it contains important information regarding the Merger.
This supplement is not an offer to sell or a solicitation of an offer to buy shares of the Acquiring Fund, nor is it a solicitation of any proxy. For important information about fees, expenses, and risk considerations regarding the Acquiring Fund, please refer to the Acquiring Fund’s prospectus and the proxy statement/prospectus relating to the Merger on file with the Securities and Exchange Commission.
* * *
The shareholder meeting is expected to be held on May 18, 2023. If approved, the Merger will be effective on or about June 9, 2023, or as soon as practicable thereafter.
Please retain this Supplement with your records.

This following Paragraph in this month's Commentary provided by @CharlesLynnBolin or @lynnbolin2021 seems worthy of further discussion here on the board.
Thanks for sharing your personal experiences and decision that you have made.
@CharlesLynnBolin wrote:

The Modern Wealth Survey for Charles Schwab by Logica Research shows that of the participants, Americans believe that it takes a net worth, including home equity, of $774,000 to be financially comfortable and $2.2M to be wealthy. FatFIRE Woman has an interesting Net Worth Calculator. The concept behind FatFIRE is “Financial Independence, Retiring Early,” but with enough to have a good quality of life. The calculator shows that the median net worth of households in the 65-year age group is $189,100, including home equity, while ten percent of households at age 65 have a net worth of $2.3 million or higher. Pensions are often not included in net worth calculations and greatly distort comparisons.

We spend our working life depending on work income to provide the funding source for our "cost to live" a quality life. If we are lucky (and maybe a bit frugal) we also squirrel away some of our work income for retirement. The above paragraph captures where most of us (65 and older) are at. If we are at the median or below, we are probably still working (if that is even possible). Using a SWR (Safe Withdrawal Rate) of 4 % this "median net worth of $189K" would barely provide $600 per month ($189K*.04/12month) of "safe withdrawals" from somewhat "uncertain and illiquid sources" (our investments & home equity values).
@CharlesLynnBolin last line:

Pensions are often not included in net worth calculations and greatly distort comparisons.

Whether one will receive a pension, an annuity, a Social Security benefit or some other form of monthly/yearly income stream these "payments" are often difficult to quantify in terms of their worth in one overall portfolio or as part of one's net worth. After 40 years (25 - 65) of accumulating a retirement nest egg and living in a home, I personally struggle to think of these two assets as the first place to turn for income in retirement. In fact, I have often thought of my investments and my home's equity as the last place to seek income (withdrawals).
As important as our portfolio and home value is, it might be better for us to find alternative and additional income solutions to help meet income needs in retirement.
Social Security:
Most of us will receive a Social Security Benefit. Spend some time crunching numbers regarding SS strategies.
Annuities / QLAC:
Increases in Interest rates may now be making annuities more attractive. Annuities are a topic on to themselves. For example, a QLAC is an annuity that you set up early in retirement, then dispersed later in retirement at a higher payout.
Our Home/Vacation Property:
Aside from home equity, a home could be rented for inflation adjusted income in retirement. Rent part of your home and have this rental income help with expenses or provide funds for you to travel in retirement. Consider running a part time business out of your home.
Reverse Mortgage Line of Credit:
Consider setting up a reverse mortgage early in retirement. This allows the reverse mortgage's line of credit to grow over time. Then, later in life, you can access this reverse mortgage line of credit and make much larger payments to yourself. This strategy (setting up a reverse mortgage early in retirement (age 62) and letting the line of credit grow) reminds me of how a QLAC (purchased early in retirement then dispersed later in retirement at a higher payout) works. There is a cost to setting up the reverse mortgage similar to any mortgage.
how-does-the-line-of-credit-for-a-reverse-mortgage-work/

Pension:
Some pension plans have features that allow funds (retirement savings) to be added to one's pension so provide a higher pension payout. Spend some time understanding what is offered at retirement. What's a Pension Worth? It could be a lot:
what-is-a-pension-worth
Part Time / Volunteer Work:
Retirement might be the best time to work at a passion that either pays you an income or provide you a productive way to spend your time.
Some of these income payments have little or no death benefit (SS might provide a burial benefit), some have a diminishing cash value (upon death), and some die with the beneficiary, some have a date certain end date, but all provide a partial solution to a retiree's income needs and might help you sleep better at night.
Love to hear what others have planned and implemented for their retirement income.

I would like to take advantage of MFO's "terrific resources" and ask the following question with respect to the FDIC insurance limit:
A poster on BigBang recently informed me that at his brokerage firm "I can hold $250,000 for one bank CD in my taxable account, and $250,000 from the same bank in my IRA account, and all $500,000 is insured at that same bank, because they are in different kinds of accounts."
Is that correct? If it is, it certainly is news to me. Somehow, I always thought the $250,000 insurance limit at an institution was based on a customer's Social Security number.
Thanks, again.
Fred

@Devo, is April 2023 CPI of 302.09 a projection? Adjusted or unadjusted?
Only the March CPI is out so far and it's 301.836 unadjusted; used for I-Bonds, TIPS), 301.808 (adjusted; commonly reported in the media). I am not a subscriber to YCharts, but it's free data also has only the March CPI.
The April CPI will be released on 5/10/23. https://www.bls.gov/cpi/

A strange thing happened today for T-Bills. https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_yield_curve&field_tdr_date_value_month=202304
The 1m-2m spread of 79 bps is HIGHER than the 1m-3m spread of 75 bps. Peak T-Bill rate now is for 2m.
Of course, it was in the news that Janet Yellen moved the debt-ceiling drop-dead date to possibly June 1 - just a month away. https://www.cnbc.com/2023/05/01/treasury-debt-limit-measures-may-run-out-by-june-1-yellen-says-in-letter-to-mccarthy.html

U.S. must raise debt limit by as early as June 1 to avoid default, Treasury says
Following are excerpts from a current report in The Washington Post:

The U.S. government could default “as early as June 1” unless Congress raises or suspends the debt ceiling, according to the Treasury Department, which implored lawmakers again on Monday to act swiftly to avert a fiscal crisis.
The new estimate followed less than a week after House Republicans delivered on their pledge to try to leverage the looming deadline to secure spending cuts, defying President Biden and officially touching off a political stalemate that could tip the fragile economy into another recession.
In a letter to lawmakers, Treasury Secretary Janet L. Yellen said the agency may be “unable to continue to satisfy all of the government’s obligations by early June, and potentially as early as June 1." But she also cautioned that the projection is imprecise, given the variability of federal tax revenues, which have come in lower than anticipated in recent months.
Still, Yellen stressed with greater certitude that the economic consequences of inaction could be vast: She said a default could cause “severe hardship to American families, harm our global leadership position, and raise questions about our ability to defend our national security interests.”
“I respectfully urge Congress to protect the full faith and credit of the United States by acting as soon as possible,” Yellen said.
Since January, the Biden administration has taken a series of increasingly aggressive budgetary maneuvers to avoid breaching the debt ceiling, the statutory limit on how much the U.S. government may borrow to pay its existing bills. Only Congress can lift or pause the legal cap, which currently is set at roughly $31 trillion.
Repeatedly, Republicans raised the debt ceiling under President Donald Trump without including fiscal reforms, yet party lawmakers — now in control of the House in a time of divided government — have refused to afford the same support to Biden. Instead, House Speaker Kevin McCarthy (R-Calif.) has conditioned GOP support on their ability to achieve a lengthy list of policy demands.