"The focus should be on the minimum needed to achieve an income required in retirement."
The focus should be on risk-adjusted performance and after that look for the income. Income by itself doesn't guarantee better performance or better risk/SD.
Example:
PIMIX in its glory days 2010-2013(https://schrts.co/TRyXMDdV) was better than SPY, 2010-2018 better than many bond funds. In these periods it beat many funds for SD too.
On the other hand, PDI, managed by one of the best teams in the world, paid about 10% annually in the last 5 years but made less than 6% total in 5 years. RCTIX made a total of close to 23% and SPY made 71% (https://schrts.co/vszPEmPD)

Perhaps because of some of the ideas that this discussion brought up I started organizing our “family office” in case something happens to me sooner than expected. I ran across something from the esteemed Rick Ferri from 2/6/15. The piece was titled “The Center of Gravity for Retirees.”
“Retirees and those almost retired shouldn’t care what their highest level of risk tolerance is because they shouldn’t be investing anywhere near it. There is no economic reason for a person to take more investment risk once they have accumulated enough money for retirement.
The focus should be on the minimum needed to achieve an income required in retirement.
I believe Mr. Ferri says 30/70 is ideal.

We bought a retirement home on Cape Cod in a spur of the moment decision, but we were smart enough to buy one less than 20 years old, built by a guy who over engineered everything ( It was his fifth personal build). BR on first floor, etc. IF we took more time we might have gotten something with a view etc, but we love the quiet neighborhood and new friends.
We passed on new dog, because my daughter moved here too and has two lovely dogs we use to get dog fix every several days. As we helped her buy her house, she frequently acknowledges that she will help us when we can't drive etc. Not including travel expenses, our income needs so far have been met with SS and dividends, even in high tax Massachusetts ( realestate taxes up 30% since 2018)
I became convinced that going into retirement is not the best time to have large equity exposure, given risk of serious bear market, so in 2015 to 2018 I cut stocks back and now am around 30%. The fact that rates shot up has made that decision easier obviously.
I think there is more downside ahead than upside, at least for US market and I don't mind making 5 to 6% rather than 20% if it means avoiding a 40 % loss in capital.
This sorta makes up for the fact that in CT for the last 30 years our house lost us lots of money, my salary was stagnant and we were taxed to the max.
But you can't focus on the past, and we are grateful we are both healthy, our kids are generally happy and educated and employed, although one is 1200 miles away.

“ … in my lifetime as an investor, I haven’t seen cash yields this high ”
Gosh, I do remember earning 15-20% on money market funds during my early working years. :)
Along with that, the aisles in grocery stores (1970s) were often filled with store employees busy changing the previously marked prices to try and keep up with the ongoing increases. Without bar codes / scanners every bottle of ketchup or loaf of bread carried a marked price. One wonders if all this remarking itself contributed to the inflation rate.
No doubt. Cash at today’s 5% (+ -) looks very compelling, especially to the “over the hill” crowd.

I am also experiencing some degree of nostalgia with some of the recent posts, especially looking at the past 15 years. Around the 2000 to 2007 period, CDs were paying 5+% and I was shopping banks for the best CD rates and terms. Then the financial markets went into a crisis period, with banks closing, major business closings, and the government cutting rates, stimulating the economy, and trying to focus on financial stabilization and economic growth. I have never seen anything like the Covid years, supply chain and manufacturing disruptions, and the renewed fight against inflation in the last few years. 5+% CDs are back, we are fighting inflation again, but now I am in retirement, focused more on preservation of assets than accumulation of assets. I hope I am around for another 15 years so I can participate in investing philosophy, but the odds are that I will not be alive.

https://www.sec.gov/Archives/edgar/data/1359057/000089418923005408/hoodriverintl497einvestorc.htm
497 1 hoodriverintl497einvestorc.htm 497 HOOD RIVER INVESTOR CLASS
Filed pursuant to Rule 497(e)
Registration Nos. 333-133691; 811-21897
Hood River International Opportunity Fund (the “Fund”)
Institutional Shares (HRIOX)
Retirement Shares (HRITX)
Investor Shares (HRIIX)
Supplement dated August 4, 2023
to the Prospectus and Statement of Additional Information (“SAI”),
each dated October 31, 2022, as supplemented
Effective August 11, 2023, the Investor Shares of the Fund will be offered for purchase.
The Prospectus and SAI are hereby amended to add HRIIX as the ticker symbol for the Investor Shares and to remove all statements to the effect that the Investor Shares are not currently offered.
Please retain this supplement with your Prospectus and SAI for future reference.

@MikeM Would a T-bill work instead of CD ? Purchased in taxable account , except retirement accounts, NO state tax in most states.

Stable-Value (SV) Rates, 8/1/23
TIAA Traditional Annuity (Accumulation) Rates
No changes.
Restricted RC 6.75%, RA 6.50%
Flexible RCP 6.00%, SRA 5.75%, Newer IRAs 5.20%
TSP G Fund hasn't updated yet (previous monthly rate was 4.00%).
Options outside of workplace retirement plans include m-mkt funds, bank m-mkt accounts (FDIC insured), T-Bills, short-term brokered CDs.
#401k #403b #StableValue #TIAA #TSP
LINK

The PBS segment from Friday (I linked earlier in the thread) focused on the advent of pharmaceutical middlemen / brokers - a fairly recent development. These are companies that serve as a “broker” and set the prices drug wholesalers or insurance companies pay to big pharma and, in the end, what retail must pay and than charge customers. ”Gouging” is a better term than brokering.
Anyways … these middlemen / brokers have been buying up the insurance companies that cover prescription drugs. One they bought is Optum RX - which happens to be mine (as part of my retirement benefits). And that helps explain why with insurance I might pay $30, $40 or more for a common drug, while by skipping insurance and printing out a Good RX coupon in advance I might get the same medication for $10. Really nuts.
ISTM David Giroux in the recent Barron’s interview prophesied that big pharma will be a better investment if the R’s win the Presidency in 2024. So politics might enter into the Pud’s question. Healthcare has been the “in” thing for as long as I can remember. Old Ted liked it. Personally, I tend to run the other way when something’s in vogue - often at my own expense. Thus, I’ve never invested in it aside from indirectly through some fund(s).

https://www.sec.gov/Archives/edgar/data/1096344/000119312523197702/d486209d497.htm
FAIRHOLME FUNDS, INC.
The Fairholme Allocation Fund
(the “Fund”)
Supplement to Prospectus and Summary Prospectus
Dated March 30, 2023
Supplement dated July 28, 2023 to the Prospectus and Summary Prospectus of the Fund dated March 30, 2023.
On July 27, 2023, the Board of Directors (the “Board”) of Fairholme Funds, Inc., at the recommendation of Fairholme Capital Management, L.L.C., the investment adviser to the Fund, approved the liquidation and termination of the Fund. Effective at market close on July 28, 2023, the Fund will suspend the offering and sale of its shares. The Fund expects to make the final liquidating distribution on or about August 31, 2023 (the “Liquidation Date”).
At any time prior to the Liquidation Date, shareholders may redeem shares of the Fund, or exchange shares of the Fund for shares of the Fairholme Fund or the Fairholme Focused Income Fund, both of which will remain open to investors, in the manner described in the Fund’s Prospectus. In connection with the liquidation, the Board has approved the waiver of the redemption fee of 2.00% imposed on Fund shares redeemed or exchanged within 60 calendar days of their purchase.
Shareholders should be aware that the Fund may convert assets to cash and/or cash equivalents before the liquidating distribution is made to shareholders. Accordingly, the Fund will no longer pursue its stated investment objective or engage in any business activities except for the purposes of winding up its business and affairs, paying its liabilities and distributing its remaining assets to shareholders. If a shareholder has not redeemed his or her Fund shares prior to the Liquidation Date, the shareholder’s account will be automatically redeemed and an amount equal to the shareholder’s proportionate interest in the Fund’s assets will be distributed to the shareholder on the Liquidation Date.
The redemption, sale, exchange or liquidation of Fund shares may be a taxable event to the extent a shareholder’s tax basis in the shares is lower than the liquidation proceeds per share that the shareholder receives. Shareholders should consult with their personal tax advisers concerning their particular tax situation.
If you hold Fund shares in a tax-deferred retirement account, you should consult with your personal tax adviser or account custodian to determine how to reinvest your liquidation proceeds on a tax-deferred basis.
* * * * * *
YOU SHOULD RETAIN THIS SUPPLEMENT WITH YOUR PROSPECTUS AND SUMMARY PROSPECTUS FOR FUTURE REFERENCE.

I was assuming the OP was specifically talking about Traditional/Rollover IRAs as titled in this thread, not other types of retirement accounts such as 401/403/457 accounts. Those are two very different kind of retirement accounts, and when you set up your Schwab Accounts, I believe they are handled separately, in separate Schwab accounts. I do not believe Schwab would ever co-mingle Rollover IRAs with any remaining 401/403/457 holdings. I don't currently own any 401/403/457 accounts, so I do not have any personal experience with my Schwab brokerage holding both kinds of retirement accounts.

5.22 total return in 2022 for FSUTX.
Past performance, and future returns, and all that . . . But, widows and orphans rejoice.
I didn't get that FSUTX 2022 return. I had PRUZX, and one of the etf's, and I wanted to consolidate the ornaments on the retirement tree.
BTW. RSPU came through 2022 with a 4.35 return. And it only yields 2.50. I didn't have that either.

"Take note that calculating your RMD works a bit differently if your spouse is the only primary beneficiary to your account and is more than 10 years younger than you. In this case, you must use the IRS Joint Life and Last Survivor Expectancy Table. You can also find this on IRS Publication 590. However, your life expectancy factor would be based on the ages of you and your spouse. But the formula doesn’t change. You’d still follow the same IRA withdraw rules listed above."
Just discovered this. My spouse is indeed the only primary beneficiary, and is more than 10 years younger than me. Does that work to my advantage?
"...The IRS has other tables for account holders and beneficiaries of retirement funds whose spouses are much younger."
I still have 4 years until reaching age 73.
....And just try to locate those withdrawal tables (and alternative withdrawal tables) re: "combined life expectancy." I dare you. Your tax dollars at work. Geniuses, everywhere:
https://www.irs.gov/forms-pubs/about-publication-590-b

How time has changed with American funds. By the time we invested with American, the R6 (retirement accounts) were available - no load and no 12-b-1 fees. AF has served us well especially during drawdowns. Today, we moved to their newly created ETFs (less than 2 years old) with attractive expense ratio of 0.47-0.33%.

I agree with respect to the zillion share classes at AF. When we were investing there I just stayed with the "A" class. Fortunately after a few years we were able to invest there with diminishing loads, and finally without load. Load funds were not uncommon in those days, but I never did think that charging 5% or so to buy into a fund was really justified.
We knew nothing about funds then, but fortunately we had a very good AF advisor who helped us understand the ins and outs, and what the whole thing was all about. Part of that 5% paid his salary, and I have to concede that he was a big factor in our present financial well-being in retirement.

There are only a small number of American Funds/Capital Group. So, several are humongous and are team-managed. But those teams are internal - small groups of its analysts are given slices of big funds to manage. Typically, analysts only recommend/suggest stocks to lead manager(s) who make the final selections. But here, there is a combo approach. These teams at American Funds are different from those at Fido (many who led big Fido funds, but when that didn't work out, they were put on FBALX) or Vanguard (who farms out to multiple external and internal managers).
At one time, Bogle worried that some other firm like American Funds could go noload before he had the chance to implement his big new idea after being fired from Wellington Management (a load shop until then) - index and active funds that were and low-cost and noload. It seems that American Funds instead went in the direction of zillion classes - its Retirement R6 classes have the lowest ERs, and it now also sells F-1 classes on 3rd party brokers as noload/NTF (Fido, Schwab). It has also gotten into the ETFs that are farthest from load funds. Do its fund brokers and load fund holders like this? NO, but American Funds sees that as a declining pool of fools who unknowing pay a lot for the same stuff that is available for free in various channels.
I had American Funds R6 in my 403b until the plan changed to mostly index funds and TDFs - another disturbing trend.

American Funds seem to be the darlings of 401, 403, 457, etc. retirement funds. I owned them for many years, as part of company retirement programs, and was on Company Investment Committees that helped select them. They have huge AUMs, guided by large investment teams, but seem to stay pretty competitive. I have not owned any of their funds since I retired, but I know they have a large and loyal fan base that believe in them.

Think you meant CGGO, Capital Global Growth Equity; a sold global growth fund. The domestic version is CGUS. I bought CGUS and CGDV when they became available a year ago. Also looking at CGMS, a multi-sector bond fund.
Addition: excerpt from Lewis Branham’s article,

American Funds, which has had a multi-manager structure for its funds since 1958. Moreover, its 211 analysts actually manage a slice of each fund directly. Typically, equity funds have more than 10 co-managers.

For retirement account, the ER of the R6 shares (without the 12-b-1 fee) are reasonable. Now these actively managed ETFs are also competitive on their fees to other firms as WisdomTree.

See Vanguard exceptions to foreign tax reporting here:
https://big-bang-investors.proboards.com/post/38655/thread
Excerpt:
Vanguard's 1099s do not include foreign taxes paid for many funds, such as VT (Vanguard Total World Stock ETF), VGWAX (Global Wellington), or VGYAX (Global Wellesley Income), which have significant foreign stock exposure (including foreign dividend-paying stock exposure). This is nuts -- these funds are 40-50% foreign.
And yet, VG does provide foreign tax information on funds like STAR and the Life Strategy and Target Retirement funds, which have a minimal amount of foreign exposure.
See here which funds VG does provide foreign tax information for:
https://www.vanguard.com/pdf/FTC_2023.pdf

@Derf "I believe IRA's are not eligible for credit or deductions for foreign taxes paid on Fed taxes. That's why I'm moving to taxable account. Correct me if I'm wrong."
You are correct. Brokerage 1099s usually show foreign taxes paid (there are some peculiar exceptions at Vanguard), so in a taxable account you can claim a credit. Not in IRAs. Hence, I always keep foreign dividend payers in taxable.
Note however that Canada is an exception. There is a US-Canada agreement in place so that Canadian assets held in US IRAs are exempt from tax withholding:
https://www.suredividend.com/canadian-taxes-us-investors/#retirementaccounts
"… the 15% withholding tax that is normally imposed by the Canada Revenue Agency is waived when Canadian securities are held within U.S. retirement accounts. This is an important component of the U.S.-Canada tax treaty ..."
See discussion here:
https://big-bang-investors.proboards.com/post/39582/thread

Taking the new thread for a spin . . .
My foray into T-Bills came due today in the IRA. Used the proceeds to top off PRWCX and open a position in FBALX. I already have VWINX and VWELX covering the longer side of duration. These positions are now roughly equal in size.
FBALX is the new ornament on the retirement tree. I said I would be trimming, and I will. I am looking forward to just a little bit more cooperation from GISYX at 1.04% of the portfolio. Proceeds will likely be split between IYK and PSCC.