I think golub1 is correct. The only way to get there is to build your own. But it sure would be nice to have 1 well managed international balanced/allocation fund doing the work for you.
Still unbelievable to me that a 60:40 balanced type fund using international equity and international bonds exclusively doesn't exist. Seems like that would be something easy for Vanguard to market using their index funds. Would it ever match PRWCX? Oh I doubt it, unless that cloning Giroux thing hank mentioned pans out.
A few very good world or global funds mentioned in this thread seem to be the closest thing available.

Vanguard does offer the Global Wellington fund.
The fund invests in international equities and international bonds.
Its allocation is approximately 65% stocks / 35% bonds.
Edit: You were referencing international balanced funds but I provided a global fund.
My mistake!

Buffett’s original advice (quoted by @bee) was initially offered 8-10 years ago as I recall. Go back and check the major indexes than (much lower). But I won’t dispute that he probably still adheres to the recommendation made when he was a youthful 82 or 83.
And we did “bat that one around” quite thoroughly here 8-10 years ago when it was first announced. Geez - would have been sometime in the first 2 or 3 years of MFO’s existence. Thanks @larryB for posting the question. All of us can reflect / learn from this.
For continuation of thread …

Gentlemen: Thanks for the thoughtful replies. As far as using WB as a model that has to be a non starter for most seniors. A 90 % equity allocation ? Everyone has a different set of circumstances. As for us, our withdrawal rate is essentially zero and I have no need to maximize returns. I do, or will have a need to simplify our already simple portfolio at an equity position close to our current allocation. Thanks again for responding.

Powell referred to the yield-curve, and especially to the 2Y-10Y spread as being "normal". That spread was only 72-76 bps on the FOMC days. The spread fell further since (i.e., yield-curve flattened further, as it has been since mid-2021) and seems to have stabilized at 62 bps. It won't take a lot to invert it.
https://stockcharts.com/h-sc/ui?s=$UST10Y-$UST2Y&p=D&yr=1&mn=0&dy=0&id=p63701978388

+1.

M* JR has an article today on falling dominos: ARK, SPACs, meme stocks, SC-growth. Next? Some LC-growth. https://www.morningstar.com/articles/1076351/the-stock-markets-dominoes-are-falling

Thanks, YBB for your reply. I'm mutual funds or ETFs only retiree. I just completed the 14-day full access trial phase & considering a subscription for one Yr. I thought it Updates as daily data and now forward-looking data is for only with Paid members! but wasn't aware that it's Monthly data only for any tickers! Thanks again.

Thanks for all the data @bee. Since you quoted my humble words, I want to add here:
1. I’m not Warren Buffett.
2. To roughly paraphrase Christine Legarde today, “I don’t make unconditioned statements.” So note that I began my response saying “Depends so much on somebody’s situation.” In Larry’s case that would include (among many other factors) the age and health of his spouse as well as his legacy planning.
Aside from the above, Warren Buffett is the “perfect” investor to quote in this thread. Two ways to view it: (1) At 91 he himself may be in cognitive decline and an unreliable source or (2) at 91 he’s testament to our ability to continue making good decisions as we approach the century mark. I have a friend who’s 92 and her mind is sharp as a tack. Unfortunately, it’s the other parts that are giving out.
Would love to hear others debate the pros and cons of Buffett’s advice. All ears.
BTW - Most fiduciaries today allow seniors to designate a responsible individual to make decisions for them in the event their cognitive abilities fail them.
https://www.cnbc.com/2018/05/15/advisors-are-asking-their-clients-for-a-trusted-contact-choose-wisely.html

I charted three approaches:
100% VWINX (larryB Portfolio)
90% / 10% VFINX / VFSTX (Bufffet Portfolio)
100% PRWCX (Moderate Allocation Fund)
If we are at high valuations VWINX would provide the best downside protection, but over the long term not the best choice for capital appreciation.
I tend to like the historical performance of a fund like PRWCX. Historical performance doesn't repeat , but I tend to think it rhymes.
1988 -2022 (starting with $100K and a 4% WD rate):

200-2022 (from Tech High) (starting with $100K and a 4% WD rate):

PV FAQs cover lots of topics,
https://www.portfoliovisualizer.com/faq
It may be more useful to ask specific questions on PV usage.
The MOST attractive feature of PV, for me, is that it is the only FREE tool (as far as I know) that will calculate PORTFOLIO stats (SD, beta, alpha, correlation, Sharpe Ratio, Sortino Ratio, Drawdowns, ER, rolling-returns).
Limitations are that most PV results are based on MONTHLY data (daily or weekly data can provide more refined results), the US stock market is used as reference for the MPT stats (and that may not be appropriate for all situations), subscription is required to save portfolios on the website but one can save portfolios on the PC and use "UPLOAD Portfolio" feature to upload up to 3 portfolios, data go back to 1985, PV runs are limited by the portfolio component with the shortest HISTORY (so, a substitute is required for longer runs).

@hank said:

I think your thinking in terms of late life portfolio positioning

@WarrenBuffet said:

“My advice to the trustee could not be more simple: Put 10% of the cash in short-term government bonds and 90% in a very low-cost S&P 500 index fund. (I suggest Vanguard’s.) I believe the trust’s long-term results from this policy will be superior to those attained by most investors – whether pension funds, institutions or individuals – who employ high-fee managers”.

warren-buffets-instructions-for-wifes-inheritance

Apparently images are not supported on this site. It was to show that TRP has no 1099's for my account (for 2021, or any other year). Yeah, I feel like this is beating a dead horse! I sent them one final message:
Even though you claim to support 7 years of tax forms and statements, I cannot view ANY 1099's (including 2021), and viewable statements end on 7/31/20. I received my 2021 1099-D in the mail last week. What is going on at TRP? I'm beginning to worry about the safety of my investment with you!

For the S&P sector ETFs, Stockscharts also has nice chart displays for 2-, 6- (shown in the link), 12- months. Some sectors peaked in Fall (XLC, XLI, XLY), but most others peaked around the yearend - except that the energy XLE is doing its own thing.
LINK

Pretty tough month!
All sectors down, some considerably, but one: energy.

+1 / Thanks yogi for the correction.

Getting complicated. The U.S. 10 year rate did a U-Turn this morning and bounced much higher after the European Central Bank alluded to worsening inflation and indicated rates might rise. . At last glance, the U.S. 10 year was at 1.83%, up from 1.77% last night.
(Thanks @Yogibearbull for the correction.)
Story re ECB
10-Yr Treasury Yield
Here’s a recent thread on RLSFX. I noticed at the time that it had roughly 3.5% in Meta Platforms.

Thought it worth resurrecting this thread on a day with Meta Platforms (previously Facebook) down more than 20%. (At 10:30 AM Bloomberg had it down 24% for the day.) The etf “META” doesn’t surface on Lipper (for me anyway) but M* shows it down about 19% YTD. That’s better than ARKK, which is still down over 25% YTD.
Story from Reuters

Wow. Who isn’t thinking about that? Depends so much on somebody’s situation. I tend to worry a lot. So I’ve long contemplated that the worst possible “1-2 punch” in retirement might be: (1) loose half or more of your invested assets in a market crash and than (2) get hit with very high inflation for the next decade. That’s not a prediction. Just a worst case scenario, Like I said, I worry a lot.
I’ve heard good things about Wellesley on the board over the years. It appears to be moderate risk with a beta according to Lipper of .38. I’d guess my own do-it-yourself portfolio (age 75) right now to have a beta somewhat lower than that - but have never attempted to measure it. At Lipper / Marketwatch, clicking on “Risk & Return” ” tab brings up a fund’s beta - one measure of volatility.
I think your thinking in terms of late life portfolio positioning is on the right track Larry. As far as the cognitive issues, it’s an area I can’t offer any insights on. I work out daily, eat a healthy diet, etc. etc.

Good morning : I went to place an order for above MF, UP popped !!
1. Purchase of this mutual fund is not approved for residents of your state.
First time I received that message

I think golub1 is correct. The only way to get there is to build your own. But it sure would be nice to have 1 well managed international balanced/allocation fund doing the work for you.
Still unbelievable to me that a 60:40 balanced type fund using international equity and international bonds exclusively doesn't exist. Seems like that would be something easy for Vanguard to market using their index funds. Would it ever match PRWCX? Oh I doubt it, unless that cloning Giroux thing hank mentioned pans out.
A few very good world or global funds mentioned in this thread seem to be the closest thing available.