its inst shares costs $50 to buy at fido, fwiw

A fund like VLAAX spreads its bond exposure over many sectors (Corp, Muni, Gov, Secur). It's 56% equities / 35% Bonds / 9 % cash right now.

Good choice, bee. An even better choice is VLAIX, the institutional shares. Requires, however, an initial minimum investment of $100,000 at Fidelity and Vanguard. Its risk/reward profile is very similar to wunderkind fund PRWCX.
Good luck,
Fred

Tim Duy (an economist mostly known for his Fed Watch blog) thinks the economy is set to boom in 2021. Not sure of the investment implications (if true, the Fed may need to raise interest rates sooner than currently thought) but it sure is different from how I had been thinking of things.

"Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it.”

I dig it @Mark. But have you ever beheld the beauty of a one-ounce Krugerrand close up? Had a couple in the 70s & 80s. Stashed ‘em in a can of “Cherry Blend” and the sweet smell hung with the coins. Still smell that damned pipe tobacco when I view an image of one.
The 1-oz K-Rand weighs a bit over 1 Troy ounce, as a small amount of copper is added for hardening and giving the coin a distinctive tint. Do I regret selling them? Yes. I value aesthetics - be it in art, sculpture, architecture, coin mintage or precious stones & metals.

“Beauty is truth, truth beauty” / John Keats - Ode on a Grecian Urn

@ron, The tax managed approach is great for taxable accounts, but you mentioned Roth choices. VTMFX achieves tax management by owning tax free munis. Great fund.
A fund like VLAAX spreads its bond exposure over many sectors (Corp, Muni, Gov, Secur). It's 56% equities / 35% Bonds / 9 % cash right now.

One didn't need to look at any funds to see this. The sharp divergence between the Dow (value leaning), the S&P 500 (blend), and the Nasdaq 100 (growth) has been very apparent over the past couple of days. (There's a reversal today, so far.)
Chart with DIA, VFINX, QQQ over past few days.

Exclusive: Europe to pay less than U.S. for Pfizer's German BioNTech vaccine under initial deal
By Francesco Guarascio, Reuters - 9:56 AM ET 11/11/2020
BRUSSELS (Reuters) - The European Union has struck a deal to initially pay less for Pfizer's COVID-19 vaccine candidate than the United States, an EU official told Reuters as the bloc announced on Wednesday it had secured an agreement for up to 300 million doses.
The experimental drug, developed in conjunction with Germany's BioNTech , is the frontrunner in a global race to produce a vaccine, with interim data released on Monday showing it was more than 90% effective at protecting people from COVID-19 in a large-scale clinical trial..
Under the EU deal, 27 European countries could buy 200 million doses, and have an option to purchase another 100 million.
The bloc will pay less than $19.50 per shot, a senior EU official involved in talks with vaccine makers told Reuters, adding that partly reflected the financial support given by the EU and Germany for the drug's development.
The official requested anonymity as the terms of the agreement are confidential.

Hi ron,
IMHO there’s too many variables to arrive at an answer, though various good approaches may be considered. There’s so many variables I won’t even attempt to list them. I’m 74 with 65-70% in Roths and the remainder in Traditional IRAs. I don’t pay a lot of attention to how the money is divided between the two, with a few exceptions.
- I try to have my best quality funds inside the Roth. There are various ways to assess funds - time held and your own experience being good barometers.
- I’ve avoided holding cash inside the Roth. What little I hold is either in the Traditional or completely outside the deferred accounts. (However, I do have some bond funds in the Roth).
- I maintain a few “duplicate” holdings in both the Roth and Traditional which allows me added flexibility when moving money around.
- Your age, portfolio approach, risk tolerance and other circumstances have more to do with choice of funds than whether you are in a Roth or Traditional.
Let’s assume your question relates only to the more aggressive (riskiest) portion of your portfolio. Here’s the three funds that comprise what I’ve coined the “Equity-Hedged” portion of mine: DODBX, RPGAX, PRWCX. Each has the potential to provide returns far above those of cash or bonds. Each has some component (or quality) that “hedges” losses in a bear market. I mention these only by way of example and they are not intended to be advice or recommendation.
Word of caution: Portfolio construction first. Roth & Traditional assignment later.
PS - At 80+, unless you really enjoy the “hunt” and tolerate losses well, you might consider putting a bundle in a good 40/60 balanced fund and letting it ride. There are many. One good one from TRP, where I mostly invest, is TRRIX. It’s a distinctly “non-exciting“ fund.
Good luck.

Have anyone notice the recent changes of growth stocks to value stocks ?
Vanguard growth index, VIGAX, -1.54% on 11/10/20
Vanguard value index, VVIAX, +1.44% on 11/10/20
Since the announcement of Pfizer's vaccine, rotation to non-tech sectors has accelerated. Also all my value oriented funds are moving up much faster than the growth funds.
I would like to hear your thoughts.

A quick look at recent market moves (with visuals).....

Joe Biden’s U.S. presidential election win and a promising vaccine breakthrough have combined to propel global stock markets to record highs in the last week, upending the virus-led investment strategies that have been in play since March.
1/ A SHADE OF BLUE IN GREEN STOCKS
2/ BIDEN WAVE IN DEVELOPING WORLD
3/ CALMING NERVES
4/ EQUITY RECORD (with a value tilt)
5/ COMMODITY CURRENCIES
6/ DEBT DUMPED, YIELDS JUMPED

https://reuters.com/article/us-global-markets-biden-vaccine-graphic/markets-in-v-mode-vaccine-hopes-biden-bounce-in-play-idUSKBN27R1TN

Nov 6th: Macro Trends:

Oct 3oth Episode: Election Portfolio Strategy

Oct 23rd Episode: Surviving Black Swans

Oct 21st Episode: Economic Expansion

In its latest Form 13F filing, Warren Buffet invested $597,856,475 in Barrick gold (miner stock). His investment is evolving as many of decision are made by his successors.
https://forbes.com/sites/robertberger/2020/08/28/warren-buffetts-gold/?sh=24cebf506a63

Roth money is often mentioned as the last pool of money that one should draw from.
I agree , but I tend to also see Roth money as a pool of money that one can pull from at anytime in retirement. Spending these Roth withdrawals as income has the advantage of making your spending go further since it can be spent tax free.
Early on in my savings career my Roth dollars were positioned in my most aggressive investments. As I have entered retirement, I have re-positioned 3-5 years of income needs using Roth dollars. I place these Roth dollars into less aggressive investments while the rest attempts to grow aggressively (long term).

Reverse mortgages are very fee expensive and complicated for possible heir(s). Believe you will have to talk with counselor which is required where I live. Better to take out a HELOC than reverse mortgage. If you belong to credit union, you may find better rates on HELOC.
Should you pursue a reverse mortgage definitely discuss with potential heirs so they are aware of it. There are time restrictions for heirs in which to satisfy the reverse mortgage should they want to keep the house.
Tom Selleck will not do a reverse mortgage so why hype it?
https://www.investopedia.com/mortgage/reverse-mortgage/5-signs-reverse-mortgage-bad-idea/
https://www.reversefunding.com/pros-cons

https://www.sec.gov/Archives/edgar/data/29440/000168386320014475/f7315d1.htm
Opening pushed back until 12/4/2020.

https://www.sec.gov/Archives/edgar/data/747546/000089706920000438/cmw237.htm
497 1 cmw237.htm
Filed Pursuant to Rule 497(e) and Rule 497(k)
1933 Act File No. 002-93131
1940 Act File No. 811-04044
Parnassus Endeavor Fund
Investor Class PARWX | Institutional Class PFPWX
November 10, 2020
Supplement to the Statutory Prospectus dated May 1, 2020,
As Amended and Restated Effective as of August 5, 2020
and
Supplement to the Summary Prospectus dated May 1, 2020
Portfolio Manager Change
Effective as of January 1, 2021, Billy J. Hwan will become the sole portfolio manager of the Parnassus Endeavor Fund. Mr. Hwan has served as a Portfolio Manager of the Parnassus Endeavor Fund since May 1, 2018, and has served as a Portfolio Manager and a Senior Research Analyst at Parnassus Investments (the investment advisor to the Fund) since 2012. Effective as of December 31, 2020, Jerome Dodson will no longer serve as a portfolio manager of the Parnassus Endeavor Fund. Mr. Dodson will continue as the Chairman of Parnassus Investments.
******
Please Read Carefully and Keep for Future Reference

Where is rono and others who invest in gold ?

End of day update - Miners lost a bit over 6% today. About what they gained 3 or 4 days ago. Re @rono. He posted on the OT board last week. Sounds well. I agree we could benefit from more of his wisdom regarding gold.
Bottom line, from my point of view, however - It takes a strong stomach and a certain degree of conviction to mess around with the miners. 6% swings in one day aren’t to be taken lightly. 30-50% 1-year swings sometimes occur.