Guys, my question is only WHERE low_tech is going to move his money when mm drops below 4.5% !
Nothing to do w 4% swd, which has always been low imo.

My retirement portfolio is kicking off over 6%, most of which gets reinvested into my taxable account -- including all the MM interest.
I moved part of my SCHD holdings into a MM a few months ago -- it pays more interest than SCHD and the principle is now stable. Why get 3.5% with a fluctuating share price when you can get 5% with a stable share price? I know I'm forfeiting growth but that's okay for now. I have other stock holdings.

https://www.sec.gov/Archives/edgar/data/874964/000093041324001838/c109092_497.htm
497 1 c109092_497.htm
THE LAZARD FUNDS, INC.
Lazard Managed Equity Volatility Portfolio
Supplement to Current Summary Prospectus and Prospectus
The Board of Directors of The Lazard Funds, Inc. (the “Fund”) has approved the liquidation of Lazard Managed Equity Volatility Portfolio (the “Portfolio”).
No further investments are being accepted into the Portfolio, except for investments by certain brokers or other financial intermediaries or employee benefit or retirement plans (acting on behalf of their clients or participants) with pre-existing investments in the Portfolio pursuant to an agreement or other arrangement with the Fund, the Distributor or another agent of the Fund regarding Portfolio investments. Promptly upon completion of liquidation of the Portfolio’s investments, the Portfolio will redeem all its outstanding shares by distribution of its assets to shareholders in amounts equal to the net asset value of each shareholder’s Portfolio investment. It is anticipated that the Portfolio’s assets will be distributed to shareholders on or about August 5, 2024.
Prior to the liquidation of the Portfolio, depending on the arrangements of any broker or other financial intermediary associated with your account through which Portfolio shares are held, the Fund’s exchange privilege may allow you to exchange shares of the Portfolio for shares of the same Class of another series of the Fund in an identically registered account. Please see the section of the Prospectus entitled “Shareholder Information—Investor Services—Exchange Privilege” for more information.
Dated: June 5, 2024

Thanks to @yogibearbull and @msf. That 15% “cash position” I referenced earlier was somewhat in error and I’d gone back and edited it out - but too late. Had overlooked the fact that I count a significant slug of PRIHX as “cash” for allocation purposes. Probably not wise, but I’ve long done it. So currently the actual (retirement assets) allocation to Fido’s money market funds is only around 7-8% (about half of my cash position). And that is split between Roth and Traditional.
Good news. I followed Yogi’s directions and stumbled upon the Fido settings for cash positions. When I clicked on “cash” in my portfolio overview it pulled up the current setting as SPAXX. :) So I take back any bad things I may have uttered about Fido.
FWIW - My nominal IRA cash weighting (including PRIHX) is 10%. So at 15.5% today there is an excess amount equal to around 5.5% that is earmarked for some needs later this summer.
I am rewarded nearly every time I log in to this great board!

I’m really getting screwed. I remember when my Fido retirement accounts used SPAXX. Than that changed a year ago to “money market.” I didn’t realize there was a difference. Duh. Please advise what step I need to take in order to change my settings so that SPAXX serves as the sweep account for my retirement accounts.

If you're looking at your account positions and seeing "Cash, Held In Money Market", that's cash held in a money market fund, not a money market bank account. Click on the link. You'll likely see that it is SPAXX. Mine are FDRXX, perhaps because of grandfathering. Just a couple of basis points difference between them. Both are just south of 5%.
Fidelity taxable MMFs.
As noted elsewhere, I’ve bumped the retirement cash up to 15+% as I prepare for significant need for cash late summer. Rather pissed at Fido.
If you've got at least $10K in cash in your IRA, you can open up a position in FZDXX ($10K min for retirement accounts). It's currently paying 5.15%. Fidelity officially requires one to maintain at least $10K in the fund, but generally it is quite forgiving so long as you don't bring the balance down to zero.
This is not a core fund, so any time you have cash in the IRA (e.g. non-reinvested divs), you'll have to move it to FDRXX yourself or the cash will sit in your "Cash, Held in Money Market" fund.
To answer the original question: click on the cash link as described above. You may see a "Change Core Position" button if other options are available.

d I remember when my Fido retirement accounts used SPAXX. Than that changed a year ago to “money market.” I didn’t realize there was a difference. Duh. Please advise what step I need to take in order to change my settings so that SPAXX serves as the sweep account for my retirement accounts.
As noted elsewhere, I’ve bumped the retirement cash up as I prepare for significant need for cash / distribution late summer. Rather pissed at Fido.

Fidelity calls "Fidelity Account" a "full-featured, low-cost brokerage account"
In a taxable Fidelity Account, one may use SPAXX or FZFXX as a core account, or let Fidelity hold your cash on its books as a general liability (i.e. you're lumped in with all its other creditors) in something called FCASH. But one does not have a bank sweep option. (It does have cash management features like bill pay.)
In a retirement Fidelity Account, one may use SPAXX or a bank sweep paying 2.72% APY.
See the second FAQ for this information.
https://www.fidelity.com/trading/faqs-about-account
A CMA account is slightly different.
https://www.fidelity.com/spend-save/fidelity-cash-management-account/overview
It offers only a bank sweep as a core account. But it also provides rebates on all ATM surcharges, worldwide. (I just got a 3,90€ surcharge rebated.) To get rebates on ATM withdrawals from a Fidelity Account you need to be a Premium, Private Client, or Wealth Management (advised) customer, or have some other more obscure relationship with Fidelity.
See fn 2 here.
The ATM withdrawal reimbursement feature seems to be the main reason to have a CMA account. Schwab provides something similar for its bank's checking account. AFAIK, Schwab offers cash management services only through its bank. OTOH, Fidelity has no "real" bank; it uses UMB Bank as a proxy.

I'm not sure everyone is clear on the meaning of the 4% rule. The objectives are simplicity and very high confidence that one will not run out of money within 30 years.
Conditions will surely change -- but we don't know when or in which direction -- adjust as necessary
Simplicity: just stay the course, KISS, come hell or high water. No adjustments necessary.
Gives example of how a target date fund
Simplicity: Target date funds follow glide paths. The 4% rule hews to a fixed allocation.
How can you straight line the 4% without taking these inputs into consideration.
Starting in 1926, a 4% (inflation adjusted) withdrawal regimen from a 50/50 portfolio has never depleted assets in under 30 years. That includes starting in years like 1929, 1973, 1981, etc. The rule already incorporates objective risk, assuming past is prologue.
That's not to say that people are subjectively able to handle sequence of return risk. And some people may want to plan for more than 30 years, either because they expect a longer life in retirement or their end target value is not simply "better than $0". They want to leave a legacy. And stuff happens; people may not be able to keep to a 4% budget.
ISTM the biggest risk in the 4% rule is being left with too much money. Planning for worst case without adjustments is necessarily conservative and likely to "fail" on the upside (not spending enough). But by definition any strategy that includes making adjustments is not the simplest possible.
For those who want to limit the risk of underspending, are willing to accept some risk of having less to spend in some years than they might otherwise like, and can manage more complex strategies (or are willing to hire someone else to do that), @Observant1 cited a good discussion of a couple of such strategies.
Finally, using cash is very likely to fail. Over the past 96 years (1928-2023 inclusive), 3 mo. T-bill real returns have averaged 0.32%. (See cell T120 here.) Take 4%/year off of that and you're losing more than 3.5% annually. Even without compounding the loss, you'll run out of money in under 30 years.

@Low_Tech. Cool idea. What are the odds of that working for a thirty year retirement?

I wouldn't expect ANY one thing to hold for a 30-year income. But for the time being, I have 20% of my retirement in a MM fund. If/when it drops to 4.5% or less, I will move that money somewhere else.

Links mentioned in the Video:
https://ficalc.app/
https://newretirement.com/
Article with other links:
decoding-the-chance-of-success-in-your-retirement-plan

Rob Berger discusses the 4% rule and how to wrestle with retirement success.

IF one wants to follow Bengen's original paper, then one should (I think) be using large cap domestic stocks and intermediate term Treasuries. (He is clear about intermediate term treasuries but says only "large cap" stocks.)
These days, many allocation funds invest a significant fraction of their equity sleeve abroad. IMHO that's not a bad thing, but it is different. A related "problem" is that allocation funds often invest some money into small cap stocks. While this is different from Bengen's original work, it could be an improvement:

Bill Bengen ...has increased the withdrawal rate he uses on his own retirement portfolio to 4.7%, largely because of the upside he’s gained by adding small and microcap asset classes to his portfolio, he told the Bogleheads Live podcast this week. [Dec 2022]

https://www.fa-mag.com/news/creator-of-4--rule-says-new-withdrawal-target-is-4-7-71026.html
That page goes on to say that these days, Bengen says that "the optimum stock allocation that allows the highest withdrawal rate over the long term is between 55% and 60% over the long term."
That suggests that you might look at 60/40 funds, of which there are many. As to what Bengen himself is doing, rather than using his stated static allocation "he uses a third-party service that recommends changes to his asset allocation based on perceived changes in the marketplace."
In short, consider looking at funds closer to 60/40. VBIAX (0.07% ER) is a good starting point if ER is paramount, or VSMGX (0.12% ER) to add foreign exposure.
FWIW, here's a portfolio visualizer comparison of three 60/40 funds: AOR, VSMGX, and VBIAX. over roughly ten years (PV limitation). Starts with $10K, $400 (4%) annual withdrawal (inflation adjusted).

William Bengen published Conserving Client Portfolios During Retirement, Part III
in the Dec. 1997 Journal of Financial Planning. His recommended range for stock allocation
was between 50% and 75% for a 65 year-old investor.
"Because withdrawal rates within the recommended range of stocks are essentially equal,
they are not very useful in selecting stock allocation.
For another view of the matter, consider Chart 10, which depicts the nominal wealth built up
in a portfolio after 30 years, for a retiree who began withdrawing four percent the first year.
The two stock allocations displayed, 50 percent and 75 percent, represent the extreme ends
of the 'recommended range' for this investor at age-65 retirement."
PDF1
Edit/Add: Bengen published Conserving Client Portfolios During Retirement, Part IV
in the May 2001 Journal of Financial Planning. Two alternative withdrawal strategies are explored.
PDF2

@Low_Tech. Cool idea. What are the odds of that working for a thirty year retirement?

Stable-Value (SV) Rates, 6/1/24

TIAA Traditional Annuity (Accumulation) Rates
No changes.
Restricted RC 5.75%, RA 5.50%
Flexible RCP 5.00%, SRA 4.75%, Newer IRAs 5.00%
(TIAA Declaration Year 3/1 - 2/28)
TSP G Fund hasn't updated yet (previous 4.75%).
Edit/Add 6/3/24. June rate is 4.635%.
Options outside of workplace retirement plans include m-mkt funds, bank m-mkt accounts (FDIC insured), T-Bills, short-term brokered CDs.
#StableValue #401k #403b #TIAA #TSP
https://ybbpersonalfinance.proboards.com/post/1495/thread

https://www.sec.gov/Archives/edgar/data/1295908/000158064224002881/lebenthal_497.htm
497 1 lebenthal_497.htm 497
LEBENTHAL ULTRA SHORT TAX-FREE INCOME FUND
A Series of Centaur Mutual Funds Trust
Supplement dated May 29, 2024, to the Summary Prospectus, Statutory Prospectus and
Statement of Additional Information, each dated February 28, 2024
Effective immediately, the Lebenthal Ultra Short Tax-Free Income Fund (the “Fund”), a series of Centaur Mutual Funds Trust (the “Trust”), has terminated the public offering of its shares and will discontinue its operations effective July 10, 2024. Shares of the Fund are no longer available for purchase and, at the close of business on July 10, 2024, all outstanding shares of the Fund will be redeemed at net asset value (the “Transaction”).
The Board of Trustees of the Trust (the “Board”), at the recommendation of the Fund’s investment advisor, DCM Advisors, LLC (the “Adviser”), determined and approved by Written Consent of the Board on May 29, 2024 (the “Written Consent”), to discontinue the Fund’s operations based on, among other factors, the Advisor’s belief that it would be in the best interests of the Fund and its shareholders to discontinue the Fund’s operations. Through the date of the Transaction, the Advisor will continue to waive investment advisory fees and reimburse expenses of the Fund, if necessary, in order to maintain the Fund at its current expense limit, as specified in the Fund’s Prospectus.
Through the Written Consent, the Board directed that: (i) all of the Fund’s portfolio securities be liquidated in an orderly manner not later than July 10, 2024; and (ii) all outstanding shareholder accounts on July 10, 2024, be closed and the proceeds of each account be sent to the shareholder’s address of record or to such other address as directed by the shareholder, including special instructions that may be needed for Individual Retirement Accounts (“IRAs”) and qualified pension and profit sharing accounts. As a result of the Transaction, the Fund’s portfolio holdings will be reduced to cash or cash equivalent securities. Accordingly, going forward, shareholders should not expect the Fund to achieve its stated investment objectives. Any capital gains will be distributed as soon as practicable to shareholders and reinvested in additional Fund shares, unless you have requested payment in cash.
Shareholders may continue to freely redeem their shares on each business day prior to the Transaction. Procedures for redeeming your account, including reinvested distributions, are contained in the section “Redeeming Your Shares” in the Fund’s Prospectus. Any shareholders that have not redeemed their shares of the Fund prior to July 10, 2024, will have their shares automatically redeemed as of that date, with proceeds being sent to the address of record. If your Fund shares were purchased through a broker-dealer or other financial intermediary and are held in a brokerage or other investment account, redemption proceeds may be forwarded by the Fund directly to the broker-dealer or other financial intermediary for deposit into your brokerage or other investment account.
The Transaction will be considered for tax purposes a sale of Fund shares by shareholders, and shareholders should consult with their own tax advisors to ensure its proper treatment on their income tax returns.
IMPORTANT INFORMATION FOR RETIREMENT PLAN INVESTORS
Shareholders invested through an IRA or other tax-deferred account should consult the rules regarding the reinvestment of these assets. In order to avoid a potential tax issue, shareholders generally have 60 days from the date that proceeds are received to re-invest or “rollover” the proceeds in another IRA or qualified retirement account; otherwise the proceeds may be required to be included in the shareholder’s taxable income for the current tax year.
If you have any questions regarding the Fund, please call 1-888-484-5766.
Investors Should Retain this Supplement for Future Reference

https://www.sec.gov/Archives/edgar/data/225930/000174177324002468/c497.htm
497 1 c497.htm
6316 P2 05/24
TEMPLETON FUNDS
SUPPLEMENT DATED MAY 29, 2024
TO THE SUMMARY PROSPECTUS, PROSPECTUS AND
STATEMENT OF ADDITIONAL INFORMATION (“SAI”)
EACH DATED JANUARY 1, 2024, OF
TEMPLETON INTERNATIONAL CLIMATE CHANGE FUND (THE “FUND”)
On May 22, 2024, the Board of Trustees of Templeton Funds, on behalf of Templeton International Climate Change Fund (the “Fund”), approved a proposal to liquidate and dissolve the Fund. The liquidation is anticipated to occur on or about August 9, 2024 (Liquidation Date); however, the liquidation may occur sooner if at any time before the Liquidation Date there are no shares outstanding in the Fund. The liquidation may also be delayed if unforeseen circumstances arise.
At the close of market on July 2, 2024, the Fund will be closed to new investors, except as noted below. Existing investors who had an open and funded account on July 2, 2024 can continue to invest in the Fund through exchanges and additional purchases after such date. The following categories of investors may continue to open new accounts in the Fund after the close of market on July 2, 2024: (1) clients of discretionary investment allocation programs where such programs had investments in the Fund prior to the close of market on July 2, 2024, and (2) Employer Sponsored Retirement Plans or benefit plans and their participants where the Fund was available to participants prior to the close of market on July 2, 2024. The Fund will not accept any additional purchases after the close of market on or about August 7, 2024. The Fund reserves the right to change this policy at any time.
Shareholders of the Fund on the Liquidation Date will have their accounts liquidated and the proceeds will be delivered to them. For those shareholders with taxable accounts and for Federal, state and local income tax purposes: (a) any liquidation proceeds paid to such shareholder should generally be treated as received by such shareholder in exchange for the shareholder’s shares and the shareholder will therefore generally recognize a taxable gain or loss; (b) in connection with the liquidation, the Fund may declare taxable distributions of its income and/or capital gain; and (c) an exchange out of the Fund prior to the Liquidation Date may be considered a taxable transaction and such shareholders may recognize a gain or loss. Shareholders should consult
their tax advisers regarding the effect of the Fund’s liquidation in light of their individual circumstances. Participants in an Employer Sponsored Retirement Plan that is a Fund shareholder should consult with their plan sponsor for further information regarding the impact of the liquidation. In considering new purchases or exchanges, shareholders may want to consult with their financial advisors to consider their investment options.
Please retain this supplement for future reference.

Another option to consider is an annuity. We are considering investing my wife’s IRA in an annuity to simplify matters. It accounts for about 15% of our total retirement accounts, so we wouldn’t be locking up everything. An annuity would satisfy the RMDs for that account and would provide guaranteed payments for the rest of our lives, with no concerns about market conditions. The payout rate is pretty high right now due to rising interest rates.

From Barron's May 6, 2024,
Frequent changes in the RMD rules are confusing. For tax-deferred accounts (T-IRA, 401k, 403b), the RMD age is 73 now (was 72 in 2023, 70.5 in 2020) and it will remain so until 2033. The RMD amount depends on the yearend balances, age-related IRS factor, and other factors such as marital status, very young spouse, beneficiaries. The 1st RMD can be delayed to April 1 of the following year but beware of the tax impact of double RMDs then. The RMD can be postponed if working. (There is a special 55.0-59.5 rule that avoids 10% penalty for premature withdrawals from a current 401k/403b; not so for old 401k/403b or T-IRA). The RMDs from T-IRAs can be aggregated and taken from any one T-IRA, and it’s similar for 403b, but not for 401k. There are different rules for inherited accounts for spouses, nonspouses, trusts, and whether the deceased had started taking the RMDs. The QCDs are allowed from T-IRAs. The Roth IRAs no longer require RMDs. (R-IRA rules are simple in retirement if 5 years beyond Roth Conversions, but nightmarish otherwise.)

This is a good article by Dave Nadig.
His first point regarding embracing transparency really hits home.
I invest in several Vanguard mutual funds (and one ETF) and am considered a Vanguard "owner."
How can an investor be a true owner when Vanguard doesn't disclose
executive's compensation packages, profits, or cash reserves?
If Vanguard could develop an effective form of "pooled longevity insurance" (point #3),
it could be very beneficial for the firm and the country as a whole.
I need to educate myself about retirement tontines...
Mr. Nadig fails to mention Vanguard's long-standing technology and customer service woes.
Ameliorating issues related to this should be prioritized IMHO.