most of the protections carryover from 401k/403b to such Rollover T-IRAs
Unless a debtor files for bankruptcy, rollovers receive no protection under the Bankruptcy Abuse Protection and Consumer Protection Act (BAPCPA). Seems self-evident.
Outside of bankruptcy, federal protections don't carry over to IRAs, including rollover IRAs:

protection is much different outside of bankruptcy. For example, what happens if you (or your dependents) get into a car accident or cause some other damage and have a large judgment against you? First off, the ERISA protection for assets in a qualified plan would still apply. That means any money in a company retirement plan would be safe from collection. However, unlike bankruptcy proceedings, that protection is lost once the monies are distributed out of the plan. This includes rollovers to IRAs.

https://www.irahelp.com/slottreport/creditor-protection-iras
Rollover monies may still receive better protection than contributory funds in IRAs under state law, but that's not "carrying over" the 401k protection. For example:

If you roll over funds from an ERISA account [in California] into an IRA, those funds remain 100% exempt [protected]. This is the case even though the IRA is not fully exempt in California.

https://www.nolo.com/legal-encyclopedia/are-my-retirement-accounts-protected-from-judgment-creditors-california.html
There are no similar protections for [rollover] Roth IRAs
My guess as to where this comes from is the fact that many states afford Roth IRAs less protection than T-IRAs. But this difference in the treatment between traditionals and Roths doesn't care where the money comes from - rollover or contribution.
As far as the BAPCPA is concerned, a rollover is a rollover, whether traditional or Roth:

Because of the unlimited exclusion for qualified retirement plan assets transferred into a rollover IRA, CPAs should always ensure that rolled-over retirement wealth is segregated in a rollover IRA that is distinct from other traditional or Roth IRAs that the debtor may own.

https://www.journalofaccountancy.com/issues/2006/jan/protectretirementassets.html
See also: https://mgoprivatewealth.com/ideas-insights/now-you-know-the-only-difference-between-a-rollover-ira-and-a-contributory-ira-bankruptcy-limits/
If you want a less wonky source, though I'm not fond of citing it, Investopedia says:

For the purposes of BAPCPA, a rollover IRA is a traditional or Roth IRA account that was originally funded through a transfer from a qualified retirement plan.

https://www.investopedia.com/ask/answers/081915/my-ira-protected-bankruptcy.asp

Thanks @Obsevant1. Couldn’t help noting that 5 funds from TRP comprise close to a quarter of the list.
I hope it’s OK to supplement this thread with a reference to @LewisBraham’s excellent article in the current issue of Barrons (”Investors Rediscover Stock Funds”). A nice broad-brush look at how different equity sectors fared last year. Can’t do it justice here. A few clips might entice folks to pull up the whole article / purchase / read Barron’s.
Excerpts from Barron’s - “Investors Rediscover Stock Funds” - January 9, 2023
- ”In this difficult environment, active management worked. Mutual funds in Morningstar's Large Blend category, which are mostly actively managed, were up 8.4% for the quarter and down 17% in 2022 …”
- “A favorite sector for value investors—energy—continued to dominate, with the average energy mutual fund up 21% in the fourth quarter and 45% in 2022.”
- “Perhaps the biggest surprise this past quarter was the tremendous rebound in foreign stock funds, in particular Morningstar's Europe Stock and Foreign Large Value mutual fund categories, both of which averaged 18% returns. Two value funds—Causeway International Value (CIVVX) and Oakmark International (OAKIX)—had strong runs of 23% each.”
- “The Europe Stock mutual fund category has only 18 funds. Two of the largest—Vanguard European Stock Index (VEURX) and T. Rowe Price European Stock (PRESX)—were two of the best, up 21% each in the quarter. Still, the Vanguard FTSE Europe ETF (VGK), also up 21%, is an easier way to get exposure …..”
- Article details / discusses the impact of foreign exchange rates in driving returns on non-U.S. stocks. (If you haven’t noticed, the dollar has weakened in recent months, helping non-dollar domiciled assets.)
- Lewis also notes, ”One trend that persisted all year was shareholder redemptions from Large-Growth mutual funds. T. Rowe Price Blue Chip Growth (TRBCX) lost the most from outflows in the quarter's first two months, $2.7 billion, and $12 billion for the year through Nov. 30.”

@hank I agree with the benefits of diversification between these asset classes and their different performance characteristics. Rebalancing can also enforce a certain value discipline as you state. I disagree with the notion that equal weighting these asset classes will produce optimal results or necessarily even good results in the next fifty years simply because it has in the last fifty years.
These back-tested rules based systems lack nuance and a failure to acknowledge that the future is different from the past. Worse, I think the promoters of these rules-based systems can have ulterior motives. They may want to create investment products off them that a simple algorithm can run for 0.05% while charging 0.50% to ETF investors in a world that has devalued active management.
In many ways I think the asset allocation decision requires more nuance and is more important than individual security selection. An active manager who is thinking seriously about how long-term economic, geopolitical, environmental and market trends are shifting in 2023 can add value where the one who is only looking backward to 1973 through 2023 may not.
The problem I admit is most active managers are not adequately equipped to make that kind of macro forward-looking analysis of asset classes. And worse, some are also drawn to short- lived trends that help gather assets instead of produce good results. Crypto as an asset class comes to mind. So I can see how the AANA strategy has a certain appeal and, I think, a dangerous simplicity to it.

Think this post is supposed to be joke!

Yes @Sven. My post of the classic Geiko caveman commercial was supposed to be a joke. It was meant as a play on the writer’s emphasis on simplicity - “AANA is amazingly simple.”
I was also alluding to what @sma3 noted earlier - also in jest … I have seen several other “simple portfolios” proposed. But if we used them, MFO would collapse!
It’’s widely acknowledged that trading in and out of assets frequently damages portfolios more often than it helps. So from that perspective, these simple portfolios are good approaches in that they help you stay the course. All of the assets included in AANA A do rise in value over time (as measured in multi-decades) due to the corrosive effects of inflation on paper currencies. You would have made money in nominal terms over 50 years with gold, real estate, the S&P 500 and the other components. Rebalancing smooths the ride and hopefully keeps the investor from panicking and selling an asset when it is down. To the contrary, it forces you to sell some of your “winners” and buy more of your “losers” (counterintuitive for many).

@Anna,
5% for 15 months with beginning deposit of only $50 with additional deposits is not bad.
Just got a family member into it yesterday. Just want to make sure you stay on top of the maturity date so it doesn't rollover into something with a much lower rate when it matures.
I have PenFed also, but I check DepositAccounts.com to see the current deals. I tend to use military related credit unions or Texas based credit unions. Rates were a little better than than what the credit unions pay in my area.

I think using your existing ROTH IRA is the way to go because of the 5-year rule withdrawal. If you open a new account, you have to wait 5-years before penalty free withdrawal; your existing Roth IRA is likely older, and get you sooner to penalty free withdrawal (if you ever need a withdrawal).
Hope others will comment, but that's my understanding. In my Fidelity Roth 401(k), I like how Fidelity showed "First Roth Contribution Year" and "First year of withdrawal without penalty *" ------ "*" is for 59 1/2 penalty free withdrawal, so if you are over 59 1/2, then it doesn't really matter.

I was just at the local branch today. Not a word about it. Saw no notices, nothing. Jan. 9, '23, which is the opening day of the 13-month, 5% deal.

I am making few tweaks here in 2023:
1. Reduce cash to increase intermediate-term investment grade bond exposure.
2. Maintain decent exposure to energy and commodity futures and pay attention to China reopening and industrial output (they are #1 in oil consumption)
3. Increase developed market exposure and watch for US dollar index movement (for on-USD hedged funds)
4. Add more value, utilities, consumer staples and health care funds/ETFs as defensive positions in case of recession
5. Sell off treasury bills and CDs as they matures
6. Be patient with alternatives funds.
This defensive portfolio may likely to lag if the market move strongly upward. But it will survive if we have another drawdown as in 2022.

Thank you. They are very good funds going into 2023.
As for the bonds, 2023 may present better chance to gain 5%+ gain now that most of the rate hike are likely behind us now. Few smaller hikes are likely this year. And the yields are considerable more attractive comparing to the recent years.
Since there is a possibility of a recession, value funds are preferred unless those that have better risk profile their benchmarks in last year’s drawdown.

@TheShadow Yea, I almost put a chunk of money into one of those NFCU 5%s today. Went as far as to login and start the transfer. I bailed remembering previous high percent teasers followed by lower than PenFed type rates when the short period was over. Maybe tomorrow with half the money I was ready to send today. Really wish, after more than 70 years, I could break that procrastinator personality.

Gold and out of the money put options or a collared options strategy for your stocks. Perhaps a bit of the stablest foreign currencies that might rally if the dollar collapses. Again, a highly unlikely scenario. But S&P 500 options are in effect insurance contracts. A number of funds buy the out of the money S&P 500 put options to hedge against "fat tail risk" as out of the money ones that only are profitable during significant downturns tend to be cheap to buy and can even be financed by writing call options on your stocks--a collared strategy. Of course, there is also counterparty risk with options, so the Options Clearing Corporation which settles options trades would have to step in the event of member defaults, and much like with the FDIC who knows what would happen if Treasuries defaulted. Perhaps the OCC would go bust too, really apocalyptic fat-tail scenario.

I check DepositAccounts website routinely to see if any my credit unions are running any good short-term certificate deals:
https://www.depositaccounts.com/blog/
NFCU seems to have some decent deals. Current deal from NFCU on DepositAccounts:
15-month Certificate Special, 5.00% APY, $50 min/$250k max deposit, limit one per member, additional deposits at any time, available through April 30, 2023.

Bond market anticipates 2-4 Fed rate hikes. The expectations now are of 2 more 25-bps hikes. So, this may be the tail end of the historic bond bear of 2022. It should be ok to start buying bond funds. High 30-day SEC yields point to potential future appreciations. One can also hold T-Bills.

My taste buds are very blue collar, so I'll take a good beer over any of that hard stuff. Add a dozen Buffalo style wings with blue cheese on the side and I'm in heaven.
But back to the topic. No drastic changes for me. I'll sit at about 45-50% equity. I did start adding to my gold ETF, IAU and I've been giving a lot of thought to taking a position in PRPFX. Haven't owned it since 2010ish. (@hank, do you still own that one?)
Also started buying some of the best companies in the world, Microsoft, Amazon and Google. Not huge amounts. They may go lower in the short term, but they haven't been valued at this price in a bit.

With our debt approaching $250,000 for every US taxpayer...one day we will wake up and everything about gold will change. Taleb writes about retrospective distortion.

Hello All --
With garden variety CDs offering 3.5-4% or more in FDIC insured interest (and I-Bonds offering north of 6.5%); is there any argument for buying into a Short-Term High-Yield Fund (RPHYX, TRBUX)?
D.S.

@sma3, could not agree with you more! You have articulated what I have failed to state in the past. I would say that many of these states are depending/banking on a left leaning federal bailout...what happens if that is not so? Who knows but maybe a good topic of where to move to avoid these types of potential situations or is that too extreme?
@LewisBraham...you bring up Carly HP...reminds me of Bernie ranting about the billionaire's...pointing to the outliers to make your point...although would agree that it is almost inconceivable that we don't have national health coverate in this day and age...and like my very left leaning neighbor states, "does anyone really need to be a billionaire?" Truth. But, where does that stop, how about a millionaire? Who decides?
Back to the origianal question...if things start to look real wonky with the debt limit, I would pour my monies into something like HSAFX who might actually gain monies from the prior and after 3 months? Also would consider pair trade something like 55% HSGFX/45% VELIX...dunno, your mileage might vary?
Good points you all make, good luck and good health to everyone!
Baseball Fan

@sma3 And I could provide any number of charts like this one below explaining why there are government pension short falls and large amounts of debt because we are borrowing from the wealthy and thereby increasing our federal and state debt instead of taxing them to pay for government services. This one below is just for income tax, but you can see similar downward trends for estate taxes, corporate taxes and capital gains taxes. There was even one year, 2010, when there was no estate tax at all because of legislation passed previously in the Bush era. I believe the Yankees George Steinbrenner died that year and his heirs were pretty lucky--financially that is.
The size of the debt and who owns it also goes a long way in explaining why we will not default on Treasury bonds. Despite their grumbling about government workers, wealthy investors want us to keep borrowing from them instead of taxing them to pay for workers pensions and healthcare. And how is healthcare an "enormous perk?" Other nations provide it for all of their citizens whether they work for the government or not:

@LewisBraham
for future reference
https://www.usdebtclock.org/# ( has a separate clock for each state)
Also lists Medicare and Social security deficit, but I am unsure where those numbers come from.
While this is a bit off topic, the debt burden for state employee unfunded pensions and health care obligations are enormous and could make the debt ceiling fight look like a minor squabble, because it will pit "haves" vs "have-nots" and states cannot print their way out of it. Some "red states" are seriously affected.
https://www.pewtrusts.org/en/research-and-analysis/articles/2022/07/07/states-unfunded-pension-liabilities-persist-as-major-long-term-challenge
"After New Jersey (20.2% of personal income), unfunded pension obligations were highest in Illinois (19.4%), Hawaii (18.0%), Alaska (16.3%), and New Mexico (15.7%)."
Kentucky is 15.2 % South Carolina is 11%, Mississippi 14% . ( this does not include health care costs)
I completely agree that even successful CEOs ( and for that matter even non-profit hospital CEOs) pay etc is morally outrageous at thousands of times the average worker's salary.
However, I find it offensive when a state government ( CT is the state I know the most about) establishes a protected class of workers ( ie Unionized public sector employees) and endows them with wildly enormous benefits and perks ( out of proportion to their contribution to society) that are unavailable to private sector employees, and then requires private sector employees to pay for these benefits. Afraid to increase taxes to pay for it, the legislature then runs up enormous debt for future generations ( in CT's case about $70,000 per citizen in a state with a declining population).
Both political parties are equally guilty.
The same thing is true of the benefits that Legislators give themselves.

@Staycalm
Useful philosophical musings, but I have rarely seen concern for fairness in any policy making. There are many examples on both the right and the left. Lefties point to the tax structure etc but my favorite still has is the outrageous health insurance benefits (in CT work for the state for ten years, then quit and you still get lifetime health insurance!), retirement funds ( top 3 year average including overtime determines defined benefit) and high salaries a lot of state Government union workers continue to get, just for signing up ( and keeping) a job.
More to your point and what would happen in a default: I expect the reaction worldwide to an actual default would be so extreme that there would be little thought given to prioritizing in the days ahead who got paid with what was left.
After the Dow etc. drops 10000 to 15000 points overnight, ( and Gold goes to $5000 ) the debt ceiling will quickly be passed. Any legislator who votes against it will likely be run out of town.
@fred495
To take maximum advantage of the possibility, I would buy Treasuries and Gold, but be prepared to trade into stocks quickly. Other commodities necessary for survival will probably also skyrocket, although since most are priced in Dollars, hard to tell.
I don't think accumulating a month's worth of expenses in dollar bills is a bad idea either, or stocking up on canned goods and booze. I will certainly fill up my gas tank. ATMs and credit cards will probably not work very well.