@bee. Excellent post. Please consider adding the potential drag on your retirement portfolio due to excessive taxation as well...

For those who pay an advisor to manage their money, those advisor's management fees need to be accounted for as well. These fees represent an additional "withdrawal" to your SWR rate.
The two largest fees are your fund's expense ratios (mutual fund or ETF management fee) and your independent advisor's management fees. If you employ a portfolio manager often they will withdraw 1% of your portfolio yearly. That kind of a 1% "drag" on your SWR can reduce a very significant amount of your wealth over long periods of time (30 - 40 years in retirement for example).
To illustrate this, I will use a highly efficient mutual fund (VFINX...low ER) and run a simulation through Portfolio Visualizer. I set the withdrawal rate of 1% over the life of the simulation to see what the impact of just the management fee would be on the portfolio's ending value. I used $1,000 as the starting Portfolio value.
https://portfoliovisualizer.com/backtest
Time frame: 1985 - 2023 (38 years)
Paying management fees of 1% (withdrawn yearly) on a portfolio starting value of $1K in 1985, this portfolio would have grown to $38K by 2023. The Inflation adjusted value of that $1K in 1985 = $13K in 2023.
Removing the 1% withdrawal the during this same time frame, $1K(1985) grew to $56K (2023), with and adjusted inflation value of $19.5K.
This means that the a retiree, who paid a 1% management fee throughout retirement (1985-2023), had a portfolio that was 33% less than the same retiree who self managed their retirement portfolio.
Another way of looking at this is that your advisor made $18K (the difference between $56K-$38K) advising you over these 38 year. You made $27K. If you need advice...pay for it hourly, not as a percentage under management.
If there is one thing we all can do to improve our success with SWR in retirement it would be to reduce the fees that we pay on both the funds we invest in and advisor fees we pay others.

https://www.sec.gov/Archives/edgar/data/357204/000158064223002855/sbhliquidationletter.htm
497 1 sbhliquidationletter.htm 497
CI Asset Management
SEGALL BRYANT & HAMILL TRUST
Segall Bryant & Hamill Fundamental International Small Cap Fund
Supplement dated May 23, 2023 to the
Summary Prospectus, Prospectus and Statement of Additional Information,
each dated May 1, 2023
On May 18, 2023, the Board of Trustees (the “Board”) of the Segall Bryant & Hamill Trust (the “Trust”), based upon the recommendation of Segall Bryant & Hamill, LLC (the “Adviser”), the investment adviser to the Segall Bryant & Hamill Fundamental International Small Cap Fund (the “Fund”), a series of the Trust, has determined to close and liquidate the Fund. The Board concluded that it would be in the best interests of the Fund and its shareholders that the Fund be closed and liquidated as a series of the Trust, with an effective date on or about June 26, 2023 (the “Liquidation Date”).
The Board approved a Plan of Termination, Dissolution, and Liquidation (the “Plan”) that determines the manner in which the Fund will be liquidated. Pursuant to the Plan and in anticipation of the Fund’s liquidation, the Fund will be closed to new purchases effective as of the close of business on May 30, 2023. However, any distributions declared to shareholders of the Fund after May 30, 2023, and until the close of trading on the New York Stock Exchange on the Liquidation Date will be automatically reinvested in additional shares of the Fund unless a shareholder specifically requests that such distributions be paid in cash. The Fund has declared a special distribution which will be paid prior to the liquidation. Please see the Fund’s website at www.sbhfunds.com for additional information regarding the special distribution.
Although the Fund will be closed to new purchases as of May 30, 2023, you may continue to redeem your shares of the Fund after May 30, 2023, as provided in the Prospectus. Please note, however, that the Fund will be liquidating its assets between June 1, 2023 and the Liquidation Date.
Pursuant to the Plan, if the Fund has not received your redemption request or other instruction prior to the close of business on the Liquidation Date, your shares will be redeemed, and you will receive proceeds representing your proportionate interest in the net assets of the Fund as of the Liquidation Date, subject to any required withholdings. As is the case with any redemption of fund shares, these liquidation proceeds will generally be subject to federal and, as applicable, state and local income taxes if the redeemed shares are held in a taxable account and the liquidation proceeds exceed your adjusted basis in the shares redeemed. If the redeemed shares are held in a qualified retirement account such as an IRA, the liquidation proceeds may not be subject to current income taxation under certain conditions. You should consult with your tax adviser for further information regarding the federal, state and/or local income tax consequences of this liquidation that are relevant to your specific situation.
All expenses incurred in connection with the transactions contemplated by the Plan, other than the brokerage commissions associated with the sale of portfolio securities, will be paid by the Adviser.
Please retain this supplement with your Summary Prospectus, Prospectus and
Statement of Additional Information.

https://www.sec.gov/Archives/edgar/data/357204/000158064223002856/sbhworkplacesupplement.htm
497 1 sbhworkplacesupplement.htm 497
CI Asset Management
SEGALL BRYANT & HAMILL TRUST
Segall Bryant & Hamill Workplace Equality Fund
Supplement dated May 23, 2023 to the
Summary Prospectus, Prospectus and Statement of Additional Information,
each dated May 1, 2023
On May 18, 2023, the Board of Trustees (the “Board”) of the Segall Bryant & Hamill Trust (the “Trust”), based upon the recommendation of Segall Bryant & Hamill, LLC (the “Adviser”), the investment adviser to the Segall Bryant & Hamill Workplace Equality Fund (the “Fund”), a series of the Trust, has determined to close and liquidate the Fund. The Board concluded that it would be in the best interests of the Fund and its shareholders that the Fund be closed and liquidated as a series of the Trust, with an effective date on or about June 26, 2023 (the “Liquidation Date”).
The Board approved a Plan of Termination, Dissolution, and Liquidation (the “Plan”) that determines the manner in which the Fund will be liquidated. Pursuant to the Plan and in anticipation of the Fund’s liquidation, the Fund will be closed to new purchases effective as of the close of business on May 30, 2023. However, any distributions declared to shareholders of the Fund after May 30, 2023, and until the close of trading on the New York Stock Exchange on the Liquidation Date will be automatically reinvested in additional shares of the Fund unless a shareholder specifically requests that such distributions be paid in cash. The Fund has declared a special distribution which will be paid prior to the liquidation. Please see the Fund’s website at www.sbhfunds.com for additional information regarding the special distribution.
Although the Fund will be closed to new purchases as of May 30, 2023, you may continue to redeem your shares of the Fund after May 30, 2023, as provided in the Prospectus. Please note, however, that the Fund will be liquidating its assets between June 1, 2023 and the Liquidation Date.
Pursuant to the Plan, if the Fund has not received your redemption request or other instruction prior to the close of business on the Liquidation Date, your shares will be redeemed, and you will receive proceeds representing your proportionate interest in the net assets of the Fund as of the Liquidation Date, subject to any required withholdings. As is the case with any redemption of fund shares, these liquidation proceeds will generally be subject to federal and, as applicable, state and local income taxes if the redeemed shares are held in a taxable account and the liquidation proceeds exceed your adjusted basis in the shares redeemed. If the redeemed shares are held in a qualified retirement account such as an IRA, the liquidation proceeds may not be subject to current income taxation under certain conditions. You should consult with your tax adviser for further information regarding the federal, state and/or local income tax consequences of this liquidation that are relevant to your specific situation.
All expenses incurred in connection with the transactions contemplated by the Plan, other than the brokerage commissions associated with the sale of portfolio securities, will be paid by the Adviser.
Please retain this supplement with your Summary Prospectus, Prospectus and
Statement of Additional Information.

https://www.sec.gov/Archives/edgar/data/1110502/000158064223002777/hussman-sif_497e.htm
497 1 hussman-sif_497e.htm 497
A close up of a logo
Description automatically generated with low confidence
May 18, 2023
HUSSMAN INVESTMENT TRUST
HUSSMAN STRATEGIC INTERNATIONAL FUND
Supplement to the Prospectus dated November 1, 2022, as amended
Effective immediately, Hussman Strategic International Fund (the “Fund”), a series of Hussman Investment Trust (the “Trust”), is terminating the public offering of its shares. Shares of the Fund are therefore no longer available for purchase by investors. As discussed below, all outstanding shares of the Fund will be redeemed at their net asset value per share determined as of the close of business on June 27, 2023 (the “Redemption Date”).
The return of capital by way of a redemption of all outstanding shares of the Fund was approved by the Board of Trustees of the Trust (the “Board”) based on the Board’s determination, in consultation with the Fund’s investment adviser, Hussman Strategic Advisors, Inc. (the “Adviser”), that failure to redeem all shares could have materially adverse consequences to the Fund and its shareholders given relevant factors including the Fund’s small asset base and limited prospects for the Fund to reduce expenses and increase cost efficiencies based on assets from new shareholder investments. Through the Redemption Date, the Adviser will continue to reduce its fees and to reimburse expenses of the Fund as necessary to limit the ordinary operating expenses of the Fund to 2.00% annually of the Fund’s average daily net assets (as described in the Prospectus).
All shares of the Fund will be redeemed on the Redemption Date, and the proceeds of the redemption of shares held in each shareholder’s account will be sent to the shareholder’s address of record or to such other address as may be directed by the shareholder, including special instructions that may be needed for Individual Retirement Accounts (“IRAs”) and other tax deferred retirement accounts (as discussed below). Between the date of this Supplement and the Redemption Date, the portfolio securities of the Fund will be sold in an orderly manner as necessary to satisfy redemption requests and to effect redemptions of shares on the Redemption Date. This liquidation of the Fund’s portfolio holdings will reduce, and eventually eliminate, the Fund’s normal exposure to foreign equity investments. Accordingly, during the liquidation process through the Redemption Date, the Fund will not be pursuing its stated investment objective.
Shareholders continue to have the right to redeem their Fund shares or to exchange those shares for shares of any of the other Hussman funds on each business day prior to the Redemption Date. Redemptions (including the redemption of shares in connection with an exchange) will be processed at the net asset value per share of the Fund next computed after receipt of the redemption or exchange request. Shareholders wishing to exchange their shares of the Fund for shares of another Hussman fund should obtain and read carefully the prospectus of the Hussman fund into which they wish to exchange shares before submitting an exchange request.*
The redemption of shares of the Fund, and the exchange of shares of the Fund for shares of another Hussman fund, as described in this Supplement, will each for tax purposes be considered a sale of your Fund shares. Shareholders should consult with their own tax advisors to ensure proper treatment of the redemption or exchange on their income tax returns. In addition, shareholders invested in the Fund through an IRA or other tax-deferred retirement account should consult the rules regarding reinvestment of their redemption proceeds. In order to avoid the taxation of redemption proceeds in the current tax year, such shareholder may choose to authorize, prior to the Redemption Date, a direct transfer of their retirement account assets invested in the Fund to another IRA or tax-deferred retirement account. Generally, a shareholder will have 60 days from the Redemption Date to invest their redemption proceeds in another IRA or tax-deferred retirement account to avoid treatment of the redemption proceeds as taxable income for the current tax year.
If you have any questions regarding your investment, or the redemption or exchange of Fund shares as described in this Supplement, please call 1-800-487-7626.
Investors Should Retain this Supplement for Future Reference
*Before deciding whether to exchange your shares of the Fund for shares of another Hussman fund, you should consider carefully the investment objective, risks, and charges and expenses of the other fund. The prospectuses for the Hussman funds are available at www.hussmanfunds.com or can be obtained by calling 1-800-487-7626. Please read the applicable prospectus carefully before investing. Purchases of shares of a fund acquired by means of an exchange will be effected at the net asset value of that fund next determined after receipt of your exchange request.

im thinking about selling BAMBX and buying fidelity money market fund SPAAX. as of 5/18/23 bambx is only up .11% while spaax is up 1.62%. this money is in a non retirement account. im looking for saftey of principle but i would also like to make a little return on my money. im not used to seeing this kind of a return on a money market fund and i dont know how long it can last.

https://www.sec.gov/Archives/edgar/data/1314414/000158064223002742/psi_497.htm
497 1 psi_497.htm 497
PSI STRATEGIC GROWTH FUND
Class A Shares FXSAX
(a series of Northern Lights Fund Trust)
Supplement dated May 16, 2023 to
the Prospectus dated October 28, 2022
The Board of Trustees of Northern Lights Fund Trust (the “Board”) has determined based on the recommendation of the investment adviser of the Portfolio Strategies, Inc. (the “Fund”), that it is in the best interests of the Fund and its shareholders that the Fund cease operations. The Board has determined to close the Fund and redeem all outstanding shares on June 27, 2023.
Effective at the close of business May 16, 2023, the Fund will not accept any purchases and will no longer pursue their stated investment objectives. The Fund may begin liquidating its portfolio and may invest in cash equivalents such as money market funds until all shares have been redeemed. Any capital gains will be distributed as soon as practicable to shareholders. Shares of the Fund are otherwise not available for purchase.
Prior to June 27, 2023, you may redeem your shares, including reinvested distributions, in accordance with the “How to Redeem Shares” section in the Prospectus. Unless your investment in the Fund is through a tax-deferred retirement account, a redemption is subject to tax on any taxable gains. Please refer to the “Tax Status, Dividends and Distributions” section in the Prospectus for general information. You may wish to consult your tax advisor about your particular situation.
ANY SHAREHOLDERS WHO HAVE NOT REDEEMED THEIR SHARES OF THE FUND PRIOR TO June 27, 2023 WILL HAVE THEIR SHARES AUTOMATICALLY REDEEMED AS OF THAT DATE, AND PROCEEDS WILL BE SENT TO THE ADDRESS OF RECORD. IF YOU HAVE QUESTIONS OR NEED ASSISTANCE, PLEASE CONTACT YOUR FINANCIAL ADVISOR DIRECTLY OR THE FUND AT 1-888-9-BUYPSI.
IMPORTANT INFORMATION FOR RETIREMENT PLAN INVESTORS
If you are a retirement plan investor, you should consult your tax advisor regarding the consequences of a redemption of Fund shares. If you receive a distribution from an Individual Retirement Account or a Simplified Employee Pension (SEP) IRA, you must roll the proceeds into another Individual Retirement Account within sixty (60) days of the date of the distribution in order to avoid having to include the distribution in your taxable income for the year. If you receive a distribution from a 403(b)(7) Custodian Account (Tax-Sheltered account) or a Keogh Account, you must roll the distribution into a similar type of retirement plan within sixty (60) days in order to avoid disqualification of your plan and the severe tax consequences that it can bring. If you are the trustee of a Qualified Retirement Plan, you may reinvest the money in any way permitted by the plan and trust agreement.
This Supplement and the existing Prospectus dated October 28, 2022, provide relevant information for all shareholders and should be retained for future reference. Both the Prospectus and the Statement of Additional Information dated October 28, 2022, have been filed with the Securities and Exchange Commission, are incorporated by reference and can be obtained without charge by calling the Fund at 1-888-9-BUYPSI.

Look at Chicago, getting choked by the pension costs and debt service....just like virtually all democratic run cities in the USA.
There's no question that Chicago's pensions are way underfunded - its four unions have funding ratios ranging from just 21% to 46%, according to this 2022 WTTW (Chicago PBS) report. That's close to, if not at, the bottom of the pack. A 2019 Pew Research Center Report specifically called out Chicago for it low and rapidly declining funding ratio.
And that's the point. It's dangerous to draw inferences from a single data point, especially from an outlier. Instead, use broader data. Here's a 2023 report from the conservative think tank (per Crain's) Truth In Accounting. It presents 2021 debt (or surplus) per taxpayer for the 75 largest US cities, including pension liabilities. 25 cities have surpluses, 50 are in debt.
Ballotpedia reports that in 2020, of the mayors in the 100 largest cities, 64% were Democrats, 29% were Republicans, and 7% were nonpartisan. That's almost exactly in line with the breakdown of the 25 cities reported to have surpluses: 16 Democrats (64%), 8 Republicans (32%), and 1 nonpartisan (4%). Republicans don't seem to have done a better (or worse) job than Democrats in managing city budgets, once one controls for percentage representation.
this is what some people in a very low percentage of counties who vote for govt handouts want, not the huge majority of counties in the USA
Take care not to conflate people and counties. Otherwise one might wind up thinking that Illinois is a deep red state.

Then there's Los Angeles County. Just one of 58 counties in California, yet 25% of the state's people live there. One can have a majority of people in a minority, even a small minority of counties. What counts, or what should count, are the people, not the land.

https://www.sec.gov/Archives/edgar/data/1829774/000158064223002697/easterly-thp_497.htm
497 1 easterly-thp_497.htm 497
JAMES ALPHA FUNDS TRUST D/B/A EASTERLY FUNDS TRUST
Supplement dated May 12, 2023 to the Prospectus, Summary Prospectus, and
Statement of Additional Information of the Fund, each dated April 1, 2023
This Supplement updates and supersedes any contrary information contained in the Prospectus, Summary Prospectus, and Statement of Additional Information.
The Board of Trustees of the James Alpha Funds Trust d/b/a Easterly Funds Trust (the “Trust”), based on information provided by Easterly Funds LLC (“Easterly”), has approved a Plan of Liquidation and Dissolution (“Plan”) for the above-listed series (the “Fund”) of the Trust. Effective the close of business on May 15, 2023, the Fund will cease selling shares to new investors and the Fund’s investment manager, Easterly, will begin liquidation of the Fund’s investments. Existing investors in the Fund may continue to purchase Fund shares up to the Liquidation Date, as described below. The Fund reserves the right, in its discretion, to modify the extent to which sales of shares are limited prior to the Liquidation Date.
Pursuant to the Plan, the Fund will liquidate its investments and thereafter redeem all its outstanding shares by distribution of its assets to shareholders in amounts equal to the net asset value of each shareholder’s Fund investment after the Fund has paid or provided for all of its charges, taxes, expenses and liabilities. The Board has determined to close the Fund to new investors in advance of liquidation. Easterly anticipates that the Fund’s assets will be fully liquidated and all outstanding shares redeemed on or about June 12, 2023 (the “Liquidation Date”). This date may be changed without notice to shareholders, as the liquidation of the Fund’s assets or winding up of the Fund’s affairs may take longer than expected.
Until the Liquidation Date, you may continue to freely redeem your shares, including reinvested distributions, in accordance with the section in the Prospectus entitled “How to Redeem Shares.” Shareholders may also exchange their Fund shares for shares of the same class of any other Fund in the Trust open to new investors, except as described in and subject to any restrictions set forth under “Exchange Privilege” in the Prospectus.
Unless your investment in the Fund is through a tax-deferred retirement account, a redemption or exchange is subject to tax on any taxable gains. Please refer to the “Dividends and Distributions” and “Tax Consequences” sections in the Prospectus for general information. You may wish to consult your tax advisor about your particular situation.
As a result of the intent to liquidate the Fund, the Fund is expected to deviate from its stated investment strategies and policies and will no longer pursue its stated investment objective. The Fund will begin liquidating its investment portfolio on or about the date of this Supplement and will hold cash and cash equivalents, such as money market funds, until all investments have been converted to cash and all shares have been redeemed. During this period, your investment in the Fund will not experience the gains (or losses) that would be typical if the Fund were still pursuing its investment objective.
Any capital gains will be distributed as soon as practicable to shareholders and reinvested in additional shares prior to distribution, unless you have previously requested payment in cash.
ANY LIQUIDATING DISTRIBUTION, WHICH MAY BE IN CASH OR CASH EQUIVALENTS EQUAL TO EACH RECORD SHAREHOLDER’S PROPORTIONATE INTEREST OF THE NET ASSETS OF THE FUND, DUE TO THE FUND’S SHAREHOLDERS WILL BE SENT TO A FUND SHAREHOLDER’S ADDRESS OF RECORD. IF YOU HAVE QUESTIONS OR NEED ASSISTANCE, PLEASE CONTACT YOUR FINANCIAL ADVISOR DIRECTLY OR THE FUND AT (833) 999-2636.
IMPORTANT INFORMATION FOR RETIREMENT PLAN INVESTORS
If you are a retirement plan investor, you should consult your tax advisor regarding the consequences of a redemption of Fund shares. If you receive a distribution from an Individual Retirement Account or a Simplified Employee Pension (SEP) IRA, you must roll the proceeds into another Individual Retirement Account within sixty (60) days of the date of the distribution in order to avoid having to include the distribution in your taxable income for the year. If you receive a distribution from a 403(b)(7) Custodian Account (Tax-Sheltered account) or a Keogh Account, you must roll the distribution into a similar type of retirement plan within sixty (60) days in order to avoid disqualification of your plan and the severe tax consequences that it can bring. If you are the trustee of a Qualified Retirement Plan, you may reinvest the money in any way permitted by the plan and trust agreement. If you have questions or need assistance, please contact your financial advisor directly or the Fund at (833) 999-2636.
***
You should read this Supplement in conjunction with the Prospectus, Summary Prospectus, and Statement of Additional Information, each dated April 1, 2023. Please retain this Supplement for future reference.

https://www.sec.gov/Archives/edgar/data/915802/000139834423009132/fp0083446-1_497.htm
497 1 fp0083446-1_497.htm
FINANCIAL INVESTORS TRUST
Highland Resolute Fund
Supplement dated May 8, 2023
to the
Summary Prospectus, Prospectus and Statement of Additional Information,
each dated February 28, 2022
On May 5, 2023, the Board of Trustees (the “Board”) of the Financial Investors Trust (the “Trust”), based upon the recommendation of Highland Associates, Inc. (the “Adviser”), the investment adviser to the Highland Resolute Fund (the “Fund”), a series of the Trust, has determined to close and liquidate the Fund. The Board concluded that it would be in the best interests of the Fund and its shareholders that the Fund be closed and liquidated as a series of the Trust, with an effective date on or about May 19, 2023 (the “Liquidation Date”).
The Board approved a Plan of Termination, Dissolution, and Liquidation (the “Plan”) that determines the manner in which the Fund will be liquidated. Pursuant to the Plan and in anticipation of the Fund’s liquidation, the Fund will be closed to new purchases effective as of the close of business on May 8, 2023. However, any distributions declared to shareholders of the Fund after May 16, 2023, and until the close of trading on the New York Stock Exchange on the Liquidation Date will be automatically reinvested in additional shares of the Fund unless a shareholder specifically requests that such distributions be paid in cash. Although the Fund will be closed to new purchases as of May 8, 2023, you may continue to redeem your shares of the Fund after May 8, 2023, as provided in the Prospectus. Please note, however, that the Fund will be liquidating its assets on or about the Liquidation Date.
Pursuant to the Plan, if the Fund has not received your redemption request or other instruction prior to the close of business on the Liquidation Date, your shares will be redeemed, and you will receive proceeds representing your proportionate interest in the net assets of the Fund as of the Liquidation Date, subject to any required withholdings. As is the case with any redemption of fund shares, these liquidation proceeds will generally be subject to federal and, as applicable, state and local income taxes if the redeemed shares are held in a taxable account and the liquidation proceeds exceed your adjusted basis in the shares redeemed. If the redeemed shares are held in a qualified retirement account such as an IRA, the liquidation proceeds may not be subject to current income taxation under certain conditions. You should consult with your tax adviser for further information regarding the federal, state and/or local income tax consequences of this liquidation that are relevant to your specific situation.
All expenses incurred in connection with the transactions contemplated by the Plan, other than the brokerage commissions associated with the sale of portfolio securities, will be paid by the Adviser.
Please retain this supplement with your Summary Prospectus, Prospectus and
Statement of Additional Information.

Last post @Bobpa posted on MFO was back in June 2022.
https://mutualfundobserver.com/discuss/discussion/comment/151173/#Comment_151173
In this post, he talked about his portfolio and holdings where VWINX is one of the larger allocation fund. Bobpa is in his retirement and he is looking for a replacement for some reason that he did not specify on this post. Since everyone’s situation is unique with respect to withdrawal needs., RMD, and investment horizon, the question is more on financial planning rather than a “drop-in” replacement with a different asset allocation fund.

Good info.
Might be best to leave things alone rather than start jumping around at that age.

One can live off dollars, one can’t on percentages. Although I understand on an abstract level removed from your actual life, it’s “all about math,” in reality in one’s life, it is not at all. This is especially so if one worked for those dollars, spent the fleeting hours of one’s life earning them.
Psychologically, it’s quite interesting. Think about if you found $100 on the street and lost it versus if you worked eight hours, gave your entire day to earning that $100 and then lost it. Would it feel the same? It’s why when losses eat into the principal you invested instead of just erasing gains you already made on top of your principal it feels worse. And losing $50,000 is always going to feel worse than $100 even if in percentage terms they’re the same, especially if that $50,000 is the equivalent to a year’s salary for many Americans and they now need to live off that $50,000 in retirement.

Last post @Bobpa posted on MFO was back in June 2022.
https://mutualfundobserver.com/discuss/discussion/comment/151173/#Comment_151173
In this post, he talked about his portfolio and holdings where VWINX is one of the larger allocation fund. Bobpa is in his retirement and he is looking for a replacement for some reason that he did not specify on this post. Since everyone’s situation is unique with respect to withdrawal needs., RMD, and investment horizon, the question is more on financial planning rather than a “drop-in” replacement with a different asset allocation fund.

I concur. Define pension plan was nearly all disappear when we enter the workforce and it replaced by define contribution plans, 401(k) and 403(b). Some state and federal workers still have pensions. The bulk of their income will come from their tax-deferred accounts. Nevertheless, one can still take advantage of getting the maximum company matching, contributing to the maximum amount per year, and adding Roth IRA outside of 401(k). Hopefully, it will work out okay in the end as retirement approaches.

@jafink63- Well sir, you did all of the right stuff on your way to retirement. Obviously you paid attention to your expenses, and saved adequately as you were able. Likely some degree of luck was also involved... it certainly was with us.
With respect to how you choose to place your investments, I'd say that since you're still quite young in your sixties, your current scheme seems quite reasonable to me. Even if the next few years are turbulent, you still have plenty of time to recover. We, in our eighties, are looking at a much more conservative approach, thus the choice of income instruments.
Carry on!

A pension can make a huge difference in one's retirement. Harder to come by these days, and thus so often overlooked by the "experts".
As far as Reverse Mortgages go, there is a reason they have a bad rep. High expenses (often 10% plus) combined with nefarious players dealing in that space make Reverse Mortgages a tough option. Read the fine print - they can often take your house if (they determine) you haven't been keeping up on various payments you owe as a homeowner.

@jafink63... I would suggest that you-
• 1) Sit down and map out your total annual dependable income from all sources.
• 2) Do the same for all of your predictable and repeatable annual expenses. Hopefully the income will exceed the expenses. Will it be necessary to draw down your retirement accounts to meet those expenses? If so, an additional level of careful planning will be necessary. Consider that inflation is certain to increase your expenses, but not necessarily your income.
• 3) Consider what resources you may have for unanticipated expenses- primarily health care. Would an illness requiring expensive or extended health care be covered by insurance?
• 4) If it looks like your retirement income will cover your expenses, and you have decent health care coverage, then (and only then!) can you look forward to spending down your retirement savings.
• 4) With respect to "where do we put it", I'm sure that you will get many responses from the folks here at MFO. My personal input: I believe that we are heading into a period of financial system instability which will likely take a couple of years to sort itself out.
During that period you should want to keep your savings as safe as possible. I suggest consideration of laddering fairly short-term (3 months to 2 years) FDIC insured Certificates of Deposit, or similar maturity Treasury instruments. These types of instruments are easily available through brokerages such as Fidelity or Schwab. We personally use Schwab, but many MFO posters would also recommend Fidelity.
For more information about these types of investments you might take a look at the "New to Brokered CDs" thread, and also the "Best Returns on Currently Available CDs or Treasuries Maturing 2024 to 2025" thread.
Best of luck in retirement- I can testify that my wife and I are certainly enjoying ours.

I don’t post much here and I do follow every day.
So in-turn, we are both 60 this year, I am military and disabled retired through the Air Force. I’ve been this way since I retired in 2008. I worked full-time job for 10 years after I retired, but since then I’ve worked part time of volunteered. During the time I worked, I was plowing money into my retirement accounts and built up sizable portion for which we’ve just sat on and let it grow.
My spouse still works full time doing accounting stuff, but next year she’s dropping a day and still gets her vacation pay etc, which will work great for us.
We don’t have anyone to leave our money too, so now it’s time to spend it. But where do we put it. We have family in US and England, so there will be traveling involved, mainly airfare and food. So many friends all over the place. Where does some one start. Lol
This was our 13th move around and the last time we bought a house. I took a chunk of money from Roth and paid off the house, which still leaves a very large portfolio to spend. I don’t know if I get could get used to rental unless it had private back yard for small dog.

Love to hear what others have planned and implemented for their retirement income.
68 here and retired. My "solution" is to be married to a much younger spouse, who still works.
Pension, SS, and her wages cover what we need plus university expenses for the nieces and nephews, in Asia. School is much cheaper over there, when you're paying in dollars. Of course, extra money gets sent over there, almost every month, for one reason or another. Satisfaction comes from helping out. And we would expect the kids who graduate to take over helping their families, after school is done.
Between the two of us, I'm the one who possesses a "Plan Ahead" bone. I squirrel away a bit every month. Then, when things like the car insurance bill comes due (annually,) we have that amount ready to send.
She's even able to travel in style when she gets some time off: business class. She prefers it, now. I generally don't care to go. And we still have no need to touch the portfolio, although I have been withdrawing a token amount, in January of each year.
The succession plan: When she becomes a widow, she'll move back to Asia, into the new home she's had built over there. Her brother stays there and operates a small farm on the land. Her expenses will be considerably less than in The States. If she's smart, she'll find a job that will fill-out the 40 Quarters she needs to be eligible for Medicare and Social Security. But she could just buy a medical insurance plan over there. It would need to be a good plan, though. Some family members over there have "insurance" but the policies never cover anything when you NEED them. My pension arrangement continues with her, after I'm gone, but at half. It will still be ample. And a one-time $10k death benefit. I guess SS will offer her a tiny amount of "death benefit" when I kick the bucket, too. And she will inherit the portfolio, making sure my son, her stepson, gets a bunch of it. (Or I might take care of that ahead of time.) Our total amount, including her small IRA, is in the low-average range quoted above. We have no Real Estate to worry about. We are renting, and that won't change. I never wanted the headaches that ownership brings.

Do they expect indigent nursing home Medicaid elderly to go out and get a job too?

They're trusting private equity firms to take care of that after they come up with suitable hooks, like:
"Empowering seniors!"

It's all described in the prospectus for the new Strategic Enhanced-Plus Alternative Option Senior Living Experience And Sustinance Retirement Opportunities Fund that's set to launch in Q3 of this year......

does no one watch

Succession?

https://www.vulture.com/article/succession-living-plus-inspiration-explained.html