Voices [0:01]

A foolish consistency, is the hobgoblin of little minds, adored by little statesmen and philosophers and divines. If a man does not keep pace with his companions, perhaps it is because he hears a different drummer, a different drummer.

Mostly Mary [0:19]

And now, coming to you from dead center on your dial, welcome to Risk Parity Radio, where we explore alternatives and asset allocations for the do-it-yourself investor, Broadcasting to you now from the comfort of his easy chair. Here is your host, Frank Vasquez.

Mostly Uncle Frank [0:37]

Thank you, Mary, and welcome to Risk Parity Radio. If you are new here and wonder what we are talking about, you may wish to go back and listen to some of the foundational episodes for this program.

Voices [0:50]

Yeah, baby, yeah.

Mostly Uncle Frank [0:52]

And the basic foundational episodes are episodes 1, 3, 5, 7, and 9. Some of our listeners, including Karen and Chris, have identified additional episodes that you may consider foundational, and those are episodes 12, 14, 16, 19, 21, 56, 82, and 184. Whoa, and you probably should check those out too, because we have the finest podcast audience available.

Mostly Mary [1:26]

Top drawer, really top drawer.

Mostly Uncle Frank [1:31]

Along with a host named after a hot dog.

Voices [1:34]

Lighten up Francis.

Mostly Uncle Frank [1:37]

But now onward, episode 442. Today, on Risk Party Radio, we're just going to do what we do best here, which is attend to your emails. I'm going to try and do a few extra today, otherwise we're going to get behind Not that we're not already quite far behind Gosh, and so, without further ado, here I go once again with the email. And First off, first, first off, we have an email from Thirsty Horse. A horse is a horse of course, of course, and no one can talk to a horse of course, and Thirsty Horse writes.

Mostly Mary [2:15]

Dear Frank and Mary, long time listener, second time emailer. I just donated to the top of the t-shirt match through our donor advised fund and attached a screenshot for the treasurer to tally. Also a big thanks to the origin of the t-shirt match through our donor advised fund and attached a screenshot for the treasurer to tally. Also a big thanks to the originator of this match initiative.

Voices [2:30]

Yeah, baby, yeah.

Mostly Mary [2:32]

I don't have a question for you today. I just wanted to share your impact on our lives so far In our household. We haven't won the game yet, but are getting close. I've transitioned half of our portfolio to something close to golden ratio, leaving the rest in all stock 50-50,. Large cap growth, small cap value accumulation setup. I'll glide the whole portfolio to the risk parity version over the next couple of years. I guess we are at coast FI.

Voices [2:58]

Well, you haven't got the knack of being idly rich. You see, you should do like me just snooze and dream, dream and snooze.

Voices [3:05]

The pleasures are unlimited.

Mostly Mary [3:07]

My wife enjoys her job and her pay will cover a lot of our current expenses. I am leaving the privilege of a high paying job in search of something more challenging, without worrying as much about the pay Stay in formation.

Voices [3:20]

Target's just ahead. Target should be clear. If you're going low enough, you'll have to decide. You'll have to decide.

Mostly Mary [3:31]

There is no way I would have had the confidence to do this without internalizing the risk parity concepts from you over the last few years.

Mostly Uncle Frank [3:39]

That's what I'm talking about.

Mostly Mary [3:41]

This podcast broke the doom spiral of safe withdrawal rates 4%, 3.5%, 3% and on and on.

Voices [3:49]

Bad news Fog is getting thicker and Leon's getting larger.

Mostly Mary [3:57]

As a bonus, my wife and I watched the YouTube video of your appearance in the Afford Anything podcast, giving me an opportunity to explain all of this in some detail to her. Thanks, Keep tossing those starfish Thirsty Horse.

Mostly Uncle Frank [4:21]

Well, let me say you're pretty awesome, Thirsty Horse.

Voices [4:24]

The best, Jerry the best.

Mostly Uncle Frank [4:26]

Hope you get some water In the desert.

Voices [4:31]

you can't remember your name Because there ain't no one for, to give you no name.

Mostly Uncle Frank [4:38]

But first thank you for being a donator to the Father McKenna Center. As most of you know, we do not have any sponsors on this program. We do have a charity we support. It's called the Father McKenna Center. As most of you know, we do not have any sponsors on this program. We do have a charity we support. It's called the Father McKenna Center. It supports hungry and homeless people in Washington DC and we are closing off a campaign, a matching campaign, that we began two months ago. It's called the Top of the T-Shirt Campaign. We've been raising lots and lots of money for it and we do appreciate all of your donations, particularly the creative ones such as Thirsty Horse has made here. He's not only given a donation, it is $1,618.03. And if you don't recognize that, it's a Golden Ratio donation.

Voices [5:25]

I'll get psyched.

Mostly Uncle Frank [5:27]

And for your creativity.

Mostly Uncle Frank [5:28]

We have moved you to the front of the front of the email line today as we have a number of donors, which is the prize you get besides my thanks for donating to the Father McKenna Center.

Mostly Uncle Frank [5:40]

You get to go to the front of the email line and these days that line is quite long. It's about three months long at this point. There are two ways to donate. You can go to the Father McKenna website on the donation page and donate directly there, and I'll link to that in the show notes again. Or you can become a patron on Patreon and to do that go to the Risk Priority Radio website, wwwriskpriorityradiocom, and go to the support page and you can sign up for that there to be a monthly donor. Either way, we'll get you to the front of the email line. Just make sure you mention that in your email. Getting back to your email thirsty, I see you first sent us an email over two years ago and I'm glad you've been getting a lot out of the podcast and have been able to implement some of these ideas into your personal portfolio and situation.

Voices [6:30]

We can put that check in a money market mutual fund. Then we'll reinvest the earnings into foreign currency accounts with compounding interest and it's gone.

Mostly Uncle Frank [6:38]

Sounds like you have things well in hand and I'm glad things are going well for you. I'm glad you enjoyed my YouTube appearance on Afford Anything.

Voices [6:48]

I got a lot of problems with you people. Now you're going to hear about it.

Mostly Uncle Frank [6:53]

If you want to see more of me on YouTube, look up the BiggerPocketsMoney podcast. I was just on two consecutive ones of those and two different rooms in my house. By the way, Shazmat and your wife also might like that blueprint that Paula Pant of Afford Anything created that you can download from her podcast. I thought she did a nice summary of some principles that we tend to follow around here and some guidelines. So congratulations on being Coastify, You're all right. Thank you for your very creative donation and thank you for your email. Second off. Second off we have an email from Graham.

Voices [8:11]

Polly want a cracker.

Mostly Uncle Frank [8:14]

And Graham writes.

Mostly Mary [8:15]

Hi Frank Donator, here. You've recently been discussing more about life balance over just investing, the idea that while investing style changes are important for retirement, so life and attitude changes must be made for retirement too. I remember you recommended Five Regrets of the Dying by Beware, but I can't recall names of the other books you suggested. Might I suggest that a reading list be added to your website, graham?

Mostly Uncle Frank [8:42]

Well, thank you also for being a donor to the Father McKenna Center. It has also got you up to the front of the email line.

Voices [8:50]

Groovy baby.

Mostly Uncle Frank [8:52]

Now, as to your suggestion that I create a resource page, you know what my answer to that's going to be.

Voices [9:00]

I don't think I'd like another job.

Mostly Uncle Frank [9:04]

But the good news is we're actually working on something like this when we're updating the website that Luke has made some suggestions for improved searchability. That will allow people, I think, to search not only the podcast but also the show notes and also even the transcripts of the podcast, so it will have a lot more functionality. As far as that is concerned, we have top men working on it right now.

Voices [9:33]

Who?

Mostly Uncle Frank [9:35]

Top men and I did list all of those books in the show notes for that podcast. If you're looking for them specifically, I will read them to you right now, just for your convenience. So the first book I recommended there was the Top Five Regrets of the Dying by Bronnie Ware, and I'm actually going to probably be doing a ChooseFI book club episode about that in the coming months for the Choose Fi podcast. The next one is Falling Upward by Richard Rohr, r-o-h-r. The next two are Strength to Strength and Build the Life you Want by Arthur Brooks. The next one is the Second Mountain by David Brooks, who I accidentally called James on that podcast. The next one after that is the Soul of Wealth by Daniel Crosby. That is a book of 50 essays, short essays, and he's also got a weekly podcast now where he kind of does a little bit on each one of those. If you want to check that out, these are like 10-minute podcasts to listen to. It's Daniel Crosby is his name. You can search his name in the podcast land and you'll find it. The next one is the Art of Spending Money by Morgan Housel. That book is actually not out yet. It will be out in October, I am told, but I learned about it on his podcast. You go to the Morgan Housel podcast and go back to the first episode of that episode one. You'll get a preview of what this book is going to be about, and the final one was Die With Zero by Bill Perkins.

Mostly Uncle Frank [11:13]

So those are all good books to read as you transition towards retirement.

Mostly Uncle Frank [11:17]

I do not view one as particularly better than the others.

Mostly Uncle Frank [11:21]

I view them all as different parts of a whole that you're better off taking them as a whole and using the bits and pieces from them, because they're all about various different ideas in terms of transitioning to retirement, finding purpose there and also setting priorities and putting money in its place in those priorities and I'll go ahead and make sure you get another copy of that memo. Okay, if you're looking for cheats around actually reading the books, there are a lot of podcasts and YouTube videos about each one of these books, or almost all of these books, by their authors, and then these days you can also get lots of summaries just on your favorite artificial intelligence site. Now, that's not a substitute for reading the books, but it will give you a good start on what you're looking at and what you're looking for, and we'll also see what my top men can do in terms of searchability on the website, whether it be possible just to say list all the books that have been recommended on the podcast or something like that.

Mostly Mary [12:32]

Have you ever heard of?

Voices [12:32]

Plato, Aristotle, Socrates.

Mostly Uncle Frank [12:36]

Hopefully that helps and thank you for your email.

Voices [12:40]

Looks like you've been missing a lot of work lately. I wouldn't say I've been missing a lot of work lately.

Mostly Uncle Frank [12:45]

I wouldn't say I've been missing it. Bob Good one. Oh, that's terrific, peter. Next off, we have an email from Chris.

Voices [12:56]

Chris in Indiana Ain't nothing wrong with that.

Mostly Uncle Frank [12:59]

And Chris writes.

Mostly Mary [13:00]

Frank, I just want to thank you for your response to John on yesterday's podcast. Even though I have never sent a question in for the purpose of what could be viewed as bragging, I do get caught up on trying to optimize almost everything.

Voices [13:15]

You've gone over something again and again, and again and again, Like I have. Certain questions get answered, others spring up. The mind plays tricks on you. You play tricks back. It's like you're unraveling a big cable knit sweater that someone keeps knitting, knitting, knitting, knitting, knitting, knitting knitting.

Mostly Mary [13:46]

It is difficult, after spending 40 years economizing to set ourselves up for a great retirement, to suddenly turn the switch.

Voices [13:50]

Change the poles from plus to minus and from minus to plus.

Mostly Mary [13:56]

However, to get a kick in the butt once in a while is why I still listen to a variety of retirement podcasts. And yes, I also listen to Joe and Big Al. Lol, hey, rocky, watch me pull a rabbit out of my hat. I don't need more money To hear. Some of the dialogue that can help improve my life makes all the listening worthwhile.

Mostly Uncle Frank [14:18]

Bow to your sensei. Bow to your sensei.

Mostly Mary [14:21]

My wife has been talking about going to Vegas to see a concert at the Sphere. To optimize, I have been pushing this off. Last night I booked the concert, hotel and flight. Cindy, thanks you, Chris. In Indiana.

Voices [14:35]

Viva Las Vegas. Viva Las Vegas.

Mostly Uncle Frank [14:43]

Well, thank you also for being a donor to the Father McKenna Center.

Voices [14:50]

Sounds like we have a theme going on here today. Show me the money, Jerry. You better yell.

Mostly Uncle Frank [15:00]

Show me the money. I'm glad you liked that last podcast, number 441. I've worked with a lot of different people over the past 30 years on financial matters and legal matters and everybody from people on public assistance to people with eight figures to show for it and I can tell you, although your problems may get more complex when you have more money, they are certainly not nearly as difficult to deal with than for people who don't have much money.

Voices [15:27]

The next morning you find it filled to the brim with jack squat.

Mostly Uncle Frank [15:34]

And the level of fear that is often expressed by people in those higher levels 4, 5, and 6, that Nick Maggiuli writes about in his Wealth Ladder book are really not that well justified in most cases.

Voices [15:47]

You can't handle the dogs and cats living together.

Mostly Uncle Frank [15:51]

Especially when you compare it to the people in levels one, two and three, and I do think it's healthy for us to poke fun at ourselves so that maybe we can put a few things in better perspectives.

Voices [16:02]

Doctor gave me a relaxation cassette when my blood pressure gets too high.

Voices [16:07]

the man on the tape tells me to say Serenity now.

Mostly Uncle Frank [16:10]

And I don't really have anything against JoJo and Big Al. They seem to have been quite successful with their advisory business.

Voices [16:20]

I drink your milkshake, I drink it up.

Mostly Uncle Frank [16:27]

And I'm sure that the clients they serve appreciate their approach. It was funny I listened to that again today and there was like somebody on there who had like 13 rental properties generating $150,000 of income, plus another $5 million and some other things, that they were wondering if they could live on $200,000 a year and it was sort of like, well, that's 1% of the $5 million plus the rental money.

Voices [16:56]

Aw, you're such a good boy.

Voices [16:59]

Yeah, you're so good.

Mostly Uncle Frank [17:03]

And it really it just sounds silly after a while.

Voices [17:07]

Aw, you're such a good boy.

Voices [17:09]

Yeah, you're so good.

Mostly Uncle Frank [17:13]

And you almost wonder does this person really exist? Did they really write in and did they really choose to read that on the air?

Voices [17:20]

Don't be saucy with me.

Mostly Mary [17:21]

Bernays.

Mostly Uncle Frank [17:23]

But it just goes to show you what kind of financial bubbles we can create for ourselves if we're not careful.

Voices [17:29]

Are you telling me there's not one condo available in all of Del Boca Vista? That's right. They weren't like hotcakes. How'd you get yours, got lucky? Are you trying to keep us out of Del Boca Vista?

Mostly Uncle Frank [17:42]

But it just goes to show what kind of social bubbles we can create for ourselves if we're not careful.

Voices [17:48]

It's because of the Seinfelds. Yeah, what do? You mean they don't want us there. So we're going. We're moving right into Del Boca Vista, so you're moving there for spite.

Mostly Uncle Frank [18:01]

Absolutely no one tells Frank Costanza what to do and I am very happy for you and your wife that you are going to see that concert at the sphere in las vegas. It sounds like you're beginning to optimize the right things now that is the straight stuff.

Mostly Uncle Frank [18:20]

Oh funk master there's this well-worn phrase or observation in business that whatever gets measured gets prioritized. And I think that's one of the problems we face as accumulators that it's been easy to measure accumulation, as it's just numbers on a page, but it's much harder to measure things like relationships or health factors or well-being factors. But I really think after we've reached some financial independence, numbers, we really should start thinking about well, how do I measure contributions to relationships as in, what nice thing have I done for my spouse or other important relationships recently? Have I done for my spouse or other important relationships recently? Fortunately, the health stuff is actually fairly easy to find measurements for, since you can get your blood work done and have other physical goals.

Voices [19:14]

I'm Hans, I'm Franz and we want to pump you up.

Mostly Uncle Frank [19:20]

Now, I have not been to the sphere myself I actually haven't been to Las Vegas in over 20 years but I do understand they're going to do a Wizard of Oz thing there in the near future.

Voices [19:32]

Me. She bit you, no her dog. Oh, she bit her dog, eh no.

Mostly Mary [19:42]

That dog's a menace to the community. I'm taking him to the sheriff and make sure he's destroyed so I might be convinced to go out for that do you presume to criticize the great oz?

Mostly Uncle Frank [19:55]

you ungrateful creatures, think yourselves lucky that I'm giving you audience tomorrow instead of 20 years from now anyway, it's probably a good idea if you start making little lists of things that your wife wants to do and start trying to check them off every month or two.

Voices [20:13]

I believe in the term happy wife, happy life. These are words to live by. There's never been a truer sentence in the English language than happy wife happy life, because I guarantee it will be well worth the time and the money.

Mostly Uncle Frank [20:31]

I'm glad you're doing well and thank you for your email.

Voices [20:36]

It does surprise me, however, that there's no saying that goes the other way. If my wife had a saying, it would be Happy husband. We'll see about that, or happy husband. What's he been up to?

Mostly Uncle Frank [20:59]

Next off, we have an email from Oberon.

Voices [21:02]

No way.

Mostly Uncle Frank [21:05]

And Oberon writes.

Mostly Mary [21:07]

Hi Frank, thanks for all you do. I donated $500 to the McKenna Center through my donor advised fund and will get my employer to match. I've been working my way through your episodes with a barbell strategy of the newest and oldest shows, and I finally have a question that I didn't find answered when I searched your RSS feed. I recently transitioned to a risk parity style portfolio, following your template, after realizing that I've likely passed the peak of my usefulness at my highly competitive job and may retire early. Zero to five years from now, voluntarily or not. The plant called and said if you don't come in tomorrow, don't bother coming in Monday, four day weekend. Your excellent teachings have shown me that I've already reached my FI number and I can feel confident moving forward whatever happens.

Mostly Mary [21:55]

My first world problem is that my tax advantaged accounts are only 20% of my investable assets. I transitioned them from a target date fund to half each of managed futures and GOVZ following the idea from episode 433 that a 10% allocation to treasury strips could act like 15% of VGLT. Unfortunately, the total return of GOVZ has been minus 4.5% year to date, while VLGT returned 1.6%. Tya, another ETF mentioned here that holds leveraged intermediate term treasuries is up a whopping 8.5%. In researching this phenomenon, I have learned about the yield curve and how it has steepened this year. I read that intermediate term bonds are sensitive to future interest rates, but the longer you go out in duration, the more the size of government debt and its creditworthiness matter. These are certainly not trending well and hedge funds are betting on even more curve steepening.

Mostly Mary [22:55]

Given these developments, is TYA a better capital-efficient hedge against a future recession than GOVZ? Do we need to be a little more specific about where we land on the yield curve? Ps, you can refer to me as Oberon on air. As I've recommended your podcast to colleagues and they may not know of my concerns at work and, like some of your other listeners, I am also an MIT alum, I'm not at all surprised that your approach resonates with us math nerds. Oberon.

Voices [23:25]

Thou shalt know the man by the Athenian garments. He hath on. Affect it with some care, so he may prove more fond of her than she is of her love. Look thou, we meet before the first cockcrow, fear not my lord, your servant, shall do so.

Mostly Uncle Frank [23:42]

I see we're getting a little Shakespearean here now, and now we bring you another page from the diary of the world's greatest actor, Master.

Mostly Uncle Frank [23:57]

Thespier, thank you for that reference and thank you for being a donor to the Father McKenna Center. Both are most excellent. But getting to your question, yes, we are doing some technical questions this time. I know that might frustrate some of you who come here for the numbers. So you're looking at three treasury bond investments VGLT, tya and GOVZ and the way TYA tends to perform, it performs as if it has a duration. That's kind of between VGLT and GOVZ. It's not exact, but I will show you a little test folio analysis of the three of them together and you could basically see that TYA performs in between of them.

Mostly Uncle Frank [24:47]

Now, I don't think recent performance or relative performance is anything to really go by, because TYA is on a different part of the yield curve. It will fluctuate in terms of its relative performance over time. Sometimes it'll perform worse and sometimes it'll perform better than the other ones, and that's true of all three of them. But I would expect that if we have a recession which is why you're holding these things in the first place that they are all going to go up in value, essentially proportionally. So you could hold any one of them or a combination of them. It would just be a matter of scaling your allocations, knowing how they perform relative to each other, and obviously, if you're in a taxable account, you might be better off with the GOVZ just because you have to hold less of it to get the same effect. I honestly would not make any bets on trying to predict how the yield curve will change over time. If someone can actually do that, they could probably become the wealthiest person in the world by trading options and futures over some period of time. But there are very few people who can actually do that and succeed on a regular basis, and they probably spend all of their time doing that as their job. So I would just pick your allocations and stick with them.

Mostly Uncle Frank [26:09]

What you always have to remember in the back of your head is that these treasury bond funds are really going to be there for only about 15% of the time, because that's when you have the recessions.

Mostly Uncle Frank [26:20]

70% of the time the stock market's going to go up. You're going to rely on that in your portfolio and not worry about the rest of it. So it's the other 30 percent of the time you're really concerned about and what these other assets are really doing in your portfolio about 15 percent of the time, the reason the stock market is crashing or going down is because we're in some kind of recessionary environment, and then that other 15% of the time is when you're seeing all these other weird things going on, either with inflation or some other macroeconomic phenomenon, in which case things like gold and managed futures are going to be your star performers. So no, I wouldn't get too hung up on short-term performances of these things relative to each other, because they tend to even out over time. Now, as for your MIT reference, I almost did go to MIT as an undergraduate, but decided to go the other direction and went to Caltech, and they've always been nerd rivals, if you will Revenge of the nerds.

Voices [27:19]

Nerds.

Mostly Uncle Frank [27:19]

Nerds, nerds, nerds. I had a physics professor named Ricardo Gomez gomez, who used to refer to mit as the factory on the river. He had this crazy wild hair and a thick Colombian accent, and so he was teaching us physics in the lecture hall. He would run across the stage and say things like Suppose I am a proton accelerated at three quarters the speed of light, and he was fond of saying that mass is mass is mass, no matter what form it's in, and he would say it like this mass it is mass, it is mass. It does not matter whether it is a you or a me or a box of beasts, it's all the same. And he meant a box of bees surely you can't be serious?

Mostly Uncle Frank [28:25]

I am serious, and don't call me shirley anyway, every time somebody says mit, that's actually what I think of, which really has nothing to do with mit, but you know how my mind works you are talking about the nonsensical ravings of a lunatic mind. So thank you for your interesting questions, Thank you for your support of the Father McKenna Center and thank you for your email. Next off we have an email from Ronald.

Voices [29:08]

All these shenanigans take place in a hilarious new Hollywood movie called Bedtime for Bonzo, starring Ronald Regan, diana Lynn and Bonzo, that amazing chimp.

Mostly Mary [29:19]

And Ronald writes Hi Uncle Frank and Aunt Mary. I just joined your Patreon, hopefully in time for the top of the t-shirt campaign. Apologies, I must admit I have been procrastinating. Thank you both for all you do. I have learned a lot from listening to your podcast and adopted risk parity principles into our own portfolios as we're nearing the end of our accumulation phase. I subscribe to many podcasts, but I always listen to yours first when a new one appears.

Voices [29:46]

Always remember if you ain't first you're last.

Mostly Mary [29:51]

It took a while to get used to the audio clips, but now it is jarring to hear you talk on someone else's show without hearing. We don't know, you don't know, I don't know, nobody knows. Spliced in.

Voices [30:02]

Walk away from the 97%, walk away from the 95%. Don't go where they go, don't do what they do. Don't talk like they talk. Develop you a whole new language.

Mostly Mary [30:13]

Hearing about Mary's work as a court-appointed special advocate, as well as your work with the Father McKenna Center, was very inspiring. Do you mind sharing how you both went about choosing what causes or organizations you have decided to dedicate your time to, now and in the past? I am in my 30s, live in DC and I'm looking to pursue more meaningful and less financially motivated ways of spending my productive energy. Thank you again, if you ain't first you're last.

Voices [30:42]

See you when you're grown up.

Mostly Uncle Frank [30:45]

Well, thank you for being a donor to the Father McKenna Center and I'm glad you're enjoying our podcast and our strange ways here.

Voices [30:56]

We have our ways. One trick is to tell them stories that don't go anywhere, like the time I caught the ferry over to Shelbyville. I needed a new heel for my shoe, so I decided to go to Morganville, which is what they call Shelbyville in those days.

Mostly Uncle Frank [31:16]

This is why almost all my reviews are either five stars or one star. It's all about the sound clips. This is pretty much the worst video ever made. And you asked an interesting question how does one choose what kinds of organizations one might be interested in being involved with? Well, part of it just comes with age, because you begin to figure out which ones do what, but you're essentially looking for something that is going to play to your interests or skills or some combination thereof.

Mostly Uncle Frank [31:51]

The Father McKenna Center was kind of a natural for me because Mary and I had attended that parish when it was a parish back in the 1990s. St Aloysius and all three of our boys did go to Gonzaga and volunteered at the Father McKenna Center. While they were there, our two youngest did their Eagle Scout projects with the Father McKenna Center and raising food and clothing and other things. But it was interesting. They periodically look for new board members to come on the board, because you don't stay on the board forever. You rotate off after a number of years, and they actually contacted Mary to see if she might be interested in serving on the board and this was still during COVID not at the beginning of COVID, but I think in early 2021. And she says no. But I think there might be somebody who would be appropriate for that position.

Voices [32:48]

It's all the same to you.

Mostly Uncle Frank [32:52]

I'll drive that tanker. The work the center does does have special meaning to me as well. The work the center does does have special meaning to me as well because a lot of homeless people, particularly homeless men, are mentally ill or have some mental illness struggles, and I had a brother like that who was also homeless some of the time. So I probably place a higher value on the work they're doing there than most other people might. And once I got on the board and they found out I had an interest in finance, they were all too happy to push me over to the finance committee because it is actually not a popular committee to be on but it suits me quite well. So I took that ball and ran with it, as they say.

Mostly Uncle Frank [33:56]

Now, as for Mary's work as a court-appointed special advocate, she had been looking at that organization for some time while we were still in the midst of raising our children. But she knew she really didn't have the time to devote to it because it has been quite a job unto itself. But she had worked for the FBI prior to stepping down to care for our children full-time.

Voices [34:23]

Why? What have children ever done for me?

Mostly Uncle Frank [34:26]

And so she really wanted to get back into something that involved more formal advocacy and use of her lawyering skills. What do you?

Voices [34:35]

fear my lady, a cage To stay behind bars until use and old age accept them and all chance of valor has gone beyond recall or desire. You're a daughter of kings, a shield maiden of Rohan. I do not think that will be your fate.

Mostly Uncle Frank [35:10]

To really go in and fight some dragons and advocate for the people who needed it.

Voices [35:18]

Are you not entertained? Are you not entertained, needed it?

Mostly Uncle Frank [35:35]

So if you're looking for something, I would definitely look to something that would play to your skills and or interests. Depending on how much time you have. You may not be able to go full bore with it right away, but you might just keep it in mind for later on, when you have more time. And since you're only in your 30s, you do have plenty of time to try a few things out. Don't be afraid to start something and decide that it's not for you, because a lot of times the only way you figure that out is by going off and doing some of it for a bit.

Mostly Uncle Frank [36:09]

If you are in the DC area, I do invite you to get involved with the various Choose FI local groups that are around here. There's one that meets in DC proper. There's one that meets in the Lorton Library in Lorton, virginia I'll be talking about the soul of wealth there on August 23rd Then there's one in Montgomery County and there's one in Baltimore as well, but you'll meet a lot of interesting people there at various stages of their financial independence journeys. So thank you for writing in. Thank you for your donation. So thank you for writing in. Thank you for your donation and thank you for your email. So thank you for your interesting question, thank you for your donation and thank you for your email.

Voices [36:56]

Well, you told me that day at school for career day.

Mostly Uncle Frank [37:16]

You came in you said, if you ain't first, you're last, Last off. Last off. An email from Mark.

Voices [37:23]

All hail the commander of his majesty's Roman legions, the brave and noble Marcus Vindictus.

Mostly Uncle Frank [37:31]

And Mark writes.

Mostly Mary [37:33]

Hello, I am new here.

Voices [37:35]

A hundred quatlus on the newcomers. Four hundred quatlus against the newcomers.

Voices [37:40]

Two hundred quatlus against Five hundred. On the newcomers 400 quat loos against the newcomers 200 quat loos against 500 for the newcomers Contest by multiple elimination.

Mostly Mary [37:46]

With your model portfolios for dividends and capital gains. Do you reinvest in the security or deposit to the core account? Thank you, mark.

Mostly Uncle Frank [37:56]

And the answer is Mark. We deposit the dividends and interest into the money market account that is associated with each one of these portfolios. There are no capital gains. These are not mutual funds, so they don't distribute capital gains out of them per se. There are capital gains when we sell them, and the reason we do it that way is because we are decumulating out of these portfolios, and so you always want to be taking that cash off the top and using that first so that you do not have to engage in more unnecessary transactions.

Mostly Uncle Frank [38:29]

When you do get to your decumulation phase, you do want to turn off all dividend reinvesting because it's just going to make everything easier to manage investing because it's just going to make everything easier to manage, and the first money you are going to spend is going to be from the dividends and income from the portfolio.

Mostly Uncle Frank [38:46]

It's interesting that actually accounts for over 2% of the distributions. So if there's a 5% distribution, between 40% and 50% of it comes straight out of dividends and income from the portfolio, and you'll see that reflected if you look at the distribution records that are on the website In the descriptions of the portfolios. It tells you, out of all the distributions, where it came from. All the distributions that came out of cash in the portfolios have been from accumulated dividends and interest. So hopefully that helps explain things and thank you for your email. But now I see our signal is beginning to fade. As I've mentioned, we are closing up the top of the t-shirt campaign on Thursday, so if you want to get a donation in to count for the campaign, we'd appreciate getting it in the next day or so.

Mostly Uncle Frank [39:41]

Show me the money, not that we won't take your donations after that, and you would still get to go to the front of the email line. Speaking of those emails, if you have comments or questions for me, please send them to frank at riskparityradarcom. That email is frank at riskparityradarcom. Frank at riskparityradiocom. That email is frank at riskparityradiocom. Or you can go to the website wwwriskparityradiocom. Put your message into the contact form and I'll get it that way. If you haven't had a chance to do it, please go to your favorite podcast provider and like subscribe. Give me some stars, a follow, a review. That would be great, okay, thank you once again for tuning in. This is Frank Vasquez with Risk Party Radio Signing off.

Voices [40:28]

People of Las Vegas. Turning day into night Time, turning night into day Time, if you see it once.

Voices [40:35]

You'll never be the same again. I'm going to keep on the run. I'm gonna keep on the run. I'm gonna have me some fun If it costs me my very last dime. If I wind up broke, well, I'll always remember that I had a swing in time. I'm gonna give it everything I've got. Lady, look, please let the dice stay hot. Let me shoot a seven with every shot I've ever lost. Eva, eva, eva, eva, eva, eva, eva, eva, eva, eva, eva, eva, eva, eva, eva, eva, eva, eva, eva, eva, eva, eva. Viva Las Vegas.

Mostly Mary [41:38]

The Risk Parody Radio Show is hosted by Frank Vasquez. The content provided is for entertainment and informational purposes only and does not constitute financial, investment tax or legal advice. Please consult with your own advisors before taking any actions based on any information you have heard here, making sure to take into account your own personal circumstances.