Risk Parity Radio

In this episode we answer emails from Pete, Mark, and Jack.  We thank our generous donors and share the preliminary results of the Top of the T-Shirt campaign for the Father McKenna Center, discuss recent machinations of the US Treasury Department and why its more of the same old story, and discuss some basics of accumulation portfolios and the preeminence of the Macro-Allocation Principle, and using risk-parity style portfolios for intermediate accumulation. 

And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.

Li...

In this episode we answer emails from Kelly and Jose (Joe).  We discuss simple spreadsheet applications for organizing portfolios, review a planned risk-parity style portfolio, discuss issues with transitioning and international fund choices and proportions, and why you should not fear "high market valuations" because risk-parity portfolios already solve for that exact problem, unlike simplistic large-cap weighted portfolios.  In fact, that is one of the main reasons risk-parity style portfolios make for better retirement portfolios with higher safe withdrawal rates.

Links:

Father McKenna Center Donation Page (please mention Risk Parity Radio in the comment section wi...

In this episode we answer emails from Optimus Bill, Mark, and Drew.  We discuss a paper about value factor investing from Wes Gray, Section 351 exchanges, how to stick with the horse your rode in on, a long-run correlation analysis of various assets, and a listener's new financial practice.

And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.

Links:

Father McKenna Center Donation Page (please mention Risk Parity Radio in the comment section with your donation):  Donate - Father McKenna Ce...

In this episode we answer emails from Optimus Bill, Pete, and Andy.  We discuss SBLOCs vs margin accounts for liquidity in retirement, what "jumping the shark" looks like in blog form and why its a bad idea for all involved, and a listener's endowment-inspired variable withdrawal strategy (that should work just find).

Links:

Father McKenna Center Donation Page (please mention Risk Parity Radio in the comment section with your donation):  Donate - Father McKenna Center

Interactive Brokers Margin Rates:  Margin Rates and Financing | Interactive Brokers LLC

Pete's "Firefly"  Link:  #firefly #serenity #malco...

In this episode we respond to emails from Thirsty Horse, Joanne, Matt and Alan.  We share our gratitude for our listeners and reflect on how a listener community can become one of the most meaningful outcomes of a long-term investing project. We also provide an update on the Top of the T-Shirt fundraising campaign for the Father McKenna Center.  Next we answer two portfolio design questions about retirement drawdown constraints and how to fit them into the framework for portfolios with higher safe withdrawal rates.

And THEN we our go through our weekly portfolio reviews of the ei...

In this episode we answer emails from Eli, Optimus Bill, and James.  We discuss variations in fund approaches for adding leverage, when fees are more likely to matter, what kinds of people and goals can benefit from risk parity style approaches, the trade-offs in lower and higher equity approaches (with a recent insight from Bill Bengen), and a ChatGPT analysis from a listener.

Links: 

Father McKenna Center Donation Page (please mention Risk Parity Radio in the comment section with your donation):  Donate - Father McKenna Center

Catching Up To FI with Yours Truly:  Are...

In this episode we answer emails from Luc, (from Quebec!), Nick, and Isaiah.  We discuss surviving ugly drawdowns and bad decades, building a risk parity portfolio that still grows, momentum funds, avoiding fund hopping, and treating health like a real priority.

And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.

Links:

Father McKenna Center Donation Page (please mention Risk Parity Radio in the comment section with your donation):  Donate - Father McKenna Center

Catching Up To FI Wi...

We close season six by walking through our annual July rebalancings of the first four sample risk parity style portfolios and talking about their raison d'être. We also share a practical reverse glide path strategy that we plan to apply to the sample Golden Butterfly portfolio over the course of the next ten years, starting with this one.

And we also thank our listeners for their kind words and generosity.

Links:

Father McKenna Center Donation Page (please mention Risk Parity Radio in the comment section with your donation):  Donate - Father McKenna Ce...

In this episode we answer emails from The Nameless One, Jebenizer, and C.M. We discuss practice drawdown portfolios, an unusual deferred pension cash build-up situation and how to handle it, assets that benefit from inflation, and simple rules for contributions and rebalancing that reduce taxes and stress.  And we share an update about Frank's Mom.

Links:

Father McKenna Center Donation Page (please mention Risk Parity Radio in the comment section with your donation):  Donate - Father McKenna Center

Rose Vasquez Memorial:  Rose Vasquez Memorial Service July 15, 2026

Bigger Pockets Money Podcast #1:  The...

In this episode we answer emails from I Have No Name, Shellie, Midwest Nice, and Mr. Ed (a motley crew indeed!).  We discuss some massively funny generosity to our Top of the T-Shirt Campaign for the Father McKenna Center, an odd small cap value fund in a 401(k) and the issues surrounding holding too much cash, how stocks and long-term treasury bonds can both rise while still showing negative correlation and how that relates to the Four Quadrant Model, and redeploying proceeds from the sale of real estate.  And lutefisk.

And THEN we our go through our we...

In this episode we answer emails from Ethan, Joe, and Jim.  We discuss a plan for young teachers to reach early financial independence with the right accounts and a little encouragement, the peculiar benefits of 457s and Roth contributions, a critical read of an academic article about an impractical TIPS ladder strategy, and the real-world problems with 30-year TIPS ladders, including complexity, tax issues, and longevity risk.  We also discuss catastrophe bonds as an asset class and and why the new ILS ETF looks expensive and underwhelming at the moment

And we touch on our fund raising ca...

In this episode we answer emails from Joe, Ashley, and Chris.  First, we celebrate the early retirements and generosity of our listeners, spotlighting what retirement feels like when it is driven by joy and choice instead of fear. Then we answer a near-retirement question about bubble warnings, international investing, the proper way to use expert opinions, and how to build a risk parity style portfolio that can survive drawdowns and fund withdrawals.  With the help of Claude.

And we discuss our Top of the T-shirt Campaign (Part Deux!) for the Father McKenna Center.

And THEN we...

In this episode we answer emails from Sarah, Tyler and Luc.  We Sarah's detailed plan to take a one to two year family gap year, travel, and unpack tax-smart ways to fund short-term spending, why we keep long-term money invested simply, more cowbell, and why complicated advisor math can be more noise than help how it can mask conflicts of interest.  We also touch on the Cederberg paper (yes, with a C and not an S despite my mis-statement) and why it is of little or no practical use for investors even though it may be of academic interest.

In this episode we answer emails from Tim, Avid Listener, and Aaron.  We discuss bond allocation in an intermediate accumulation Golden Butterfly style portfolios, the follies of fixating on fund or ticker symbol returns instead of the purpose of an asset in a portfolio,  and the follies of holding too much in cash.

And we discuss our Top of the T-shirt Campaign (Part Deux!) for the Father McKenna Center.

And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.

Additional Li...

In this episode we answer emails from Michael, Raphy, and Roman.  We discuss using a short-term SPIA as a bridge before Social Security and why it probably doesn't matter one way or the other if you are even a little over-saved, and how much flexibility a well-funded risk parity portfolio can really provide. We also tackle covered calls, dividend and income fund hype, and why portfolio design starts with asset classes, taxes, and drawdown tolerance rather than chasing tickers.  We also discuss the real differences between more and less aggressive risk parity style portfolio on an efficient frontier.

In this episode we answer emails from Wilson, Tim, and John.  We discuss why life insurance products are not magical perpetual motion machines that make your portfolios go faster, why insurance contracts cannot outperform the same underlying investments once costs and commissions are included, and how insurance marketers mislead the public with biased studies. We also a listener's musical tastes and answer an I Bonds allocation question.

And we discuss our Top of the T-shirt Campaign (Part Deux!) for the Father McKenna Center.

And THEN we our go through our weekly portfolio reviews of the e...

In this episode we answer emails from Peter, Alejandro, and Anderson.  We discuss retiring early and related family, work and community considerations, various portfolio and tax considerations and gambling problems, AI-driven portfolio tweaking, when simplicity applies, and share a fast way to summarize old episodes with NotebookLM.   And reference our Top of the T-shirt Campaign (Part Deux!) for the Father McKenna Center.

Links: 

Father McKenna Center Donation Page (please mention Risk Parity Radio in the comment section with your donation):  Donate - Father McKenna Center

NotebookLM Summary of Chad's Question from Episode 478 -- "Mast...

In this episode we first kick off the Top of the T-Shirt Campaign Part Deux (!) for the Father McKenna Center and explain why matching funds, donated resources, and volunteers make every dollar go further. Then we answer emails from Aaron, Hostile Witness, and Jenzo.  We discuss improving on the Permanent Portfolio , managed futures, leverage, drawdowns, and why we prefer diversification over CAPE-wearing Sonias.

And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.

Additional Links:

Father McKenna Center Donation Page (p...

In episode we answer emails from Nick, Patrick and Aaron.  We discuss matching goals with portfolios for an early FI person, review an Early Retirement Now blog post about diversification misperceptions, and discuss using STRIPS funds instead of regular treasury bond funds.

Links:

Early Retirement Now Blog Post:  How to "Lie" with Personal Finance - Part 3: Diversification - Early Retirement Now

Large Cap Growth and Small Cap Value Long Term Comparison:  Asset Analyzer for ETFs, Stocks, and Funds | testfolio

Portfolio Comparison With Sharpe and Sortino Ratios:  Portfolio Backtester for ETFs and Asse...

In this episode we answer emails from Optimus Bill, Arun, and Aaron.  We discuss why we do this show, how to build real friendships as an adult, and how to think clearly about investing without chasing fame or noise. Then we challenge the “gold returns zero” myth with a supply-and-demand lens that looks beyond popular US-centric group-think. 

And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.

Additional Links:

Fairfax CASA Donation Page:  Donate - Fairfax CASA

Father McKenna...

In this episode we answer emails from Mark and Eric.  We discuss managing finances through aging, dementia, and what happens when the family’s primary money manager can’t manage anymore. Then we challenge popular fear-based retirement thinking and explain why hoarding wealth can be a bad strategy for well-being and relationships.

Links:

Fairfax CASA Donation Page:  Donate - Fairfax CASA

Father McKenna Center Donation Page:  Donate - Father McKenna Center

Article On Fear- and Hoarding-Based Planning:  The Many Utilities of Retirement - Articles - Advisor Perspectives

A Better Approach...

In this jam-packed crushed-fresh stone-solid hour-busting episode we do a trifecta response to one most excellent email from Rebecca.  We discuss portfolios for FI-lanthropy, options and resources for making a transition from a 100% stock portfolio with tax and ACA subsidy issues, the drawbacks of bucketeering compared with the joys of asset swaps, and the socio-political overhang attached to gold and how that is evolving towards more rational uses of it by big time retail personal finance and others.

And THEN we our go through our weekly and monthly portfolio reviews of the eight sample portfolios you can f...

In this episode we answer question from Rob, Matthew, and Luke.  We discuss the pitfalls of trying to rely on an all-bond portfolio in retirement and better options, the problems with over-valuing financial simplicity over good living, the benefits of the Choose FI podcast, muddled thinking about the concepts of “self-cleansing” and the momentum factor, why reassessing a retirement plan beats obsessing over a perfect forecast, and why that's not likely to be necessary with a risk parity style portfolio due to its lower risk profile.

Links:

Father McKenna Center Donation Page:  Donate - Father McKenn...

In this episode we answer emails from TJ, Jose and Optimus Bill.  We discuss the foibles of trying to catch up via investment picking if you are behind on retirement, debunk CAPE-style and other crystal ball forecasts from "experts" that Level Two investors often fixate upon, lay out practical growth-tilted allocations that can beat narrative-driven investing and invite you all to contact Optimus Bill about your Risk Parity Radio listening habits.

And THEN we our go through our weekly and monthly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.

In this episode we answer emails from Luc, Deep, and Paul.  We discuss the French Canadian "Sak kosh" portfolio, try to help out the elder Sonia sleep well at night, distinguishing small cap blend funds from small cap value funds, and share how we use AI tools to summarize long investing content without losing the source material.

Links: 

Father McKenna Center Donation Page:  Donate - Father McKenna Center

The Superman Portfolio Withdrawal Rates:  Withdrawal Rates – Portfolio Charts

The Superman Portfolio Drawdowns:  Drawdowns – Portfolio Charts

The Superman Portfolio Portfolio Matrix:  Portfolio...

In this episode we answer emails from Geraldo, Rock, Ute.  We discuss how to give well, shifting from big-name school donations to smaller charities with immediate impact, moving from individual stocks to a Golden Butterfly style portfolio with less stress, treating Roth conversions as optional and highly personal rather than automatic, using a conservative Interactive Brokers margin loan as a temporary cash buffer, lowering margin-call risk with diversification and alternatives, and pressure-testing inflation claims for retirees and comparing U.S. data with and older study from The Netherlands.

And THEN we our go through our weekly and m...

In this episode we answer emails from Milo, Scott, and Joel.  We discuss bad advisor incentives and how to classify them by their business models, identify the only business model you want to patronize, and then move on to Treasury STRIPS and rebalancing realities, practical withdrawal mechanics with a test portfolio, and why Bitcoin’s high correlation to tech stocks undermines its role as a diversifier. 

We also celebrate the final results of the Fairfax CASA matching campaign and share a thank-you message from their executive director.

Links:

Classifying Financial Advisors By Their Busi...

In this episode we answer emails from Michael, Jim, and Optimus Bill.  We start with a 67-year-old investor who is all-in on equities and cannot sleep, and how changing portfolio allocations can lead to better rest. We share a framework of "the three H's" for determining whether you are Hustling, Hoarding, or Harvesting your way through retirement, and how that may impact your well-being over time. We also dig into why people chase bond ladders and bucketeering.

And THEN we our go through our weekly and monthly portfolio reviews of the eight sample portfolios you can find a...

In this episode we answer emails from Zach, Brian, Holly and Optimus Bill.  We discuss a way to estimate retirement health care costs using current data, clear up the “index fund” labelling problem and talk about why indexed dogs and cats won't start living together, have fun with milkshakes, and map out what tends to help a portfolio survive stagflation.  But first we celebrate a huge community win for Fairfax CASA with Queen Mary.

Links:

J.P Morgan Inflation Study:  JP_Morgan_White_Paper_Three_Retirement_Spending_Surprises.pdf - Google Drive

Ben Felix I...

In this episode we answer emails from Kyle, Tim, and Tim.  We discuss dealing with a recalcitrant parent who won’t talk about the straw in their milkshake,  outline flexible retirement withdrawal planning with asset swaps, and explain how to escape TSP limitations.

And THEN we our go through our weekly and monthly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.

Additional Links:

Fairfax CASA Donation Page:  Donate - Fairfax CASA

Financial Personality Traits Research Presentation:  Big Five Unified Financial Profiles Presentation.pdf - Google...

In this episode we answer emails from Thirsty Horse, Mark, and Mike.  We discuss a wise friend and lessons on clarity, happiness, and preparing for the end, how we got involved with the Father McKenna Center and Fairfax CASA, and dig into the real work behind CASA and foster care.  Then we pivot back to practical investing and tax planning without shortcuts.

Links:

Fairfax CASA Donation Page:  Donate - Fairfax CASA

Choose FI Episode on The Five Regrets of the Dying (and Mamie):  Top Five Regrets of the Dying | Book Club | Ep 574

...

In this episode we answer emails from Jose, Optimus Bill, and Steve.  We discuss bonds, retirement taxes, valuing Social Security and when to take it, how some use the four quadrant model for market timing, and the latest wave of complex ETFs. Along the way, we make the case that liquidity is the real goal of retirement planning, not income that may raise your tax bills.

And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.

Additional Links:

Fairfax CASA D...

In this episode we answer emails from Andrew, Geoff, and Frank.  We discuss connecting risk parity investing to a bigger question: how to build a drawdown portfolio you can hold while using money to live a full life. Along the way we share a Fairfax CASA story, dig into narrative psychology, and answer practical fund questions on modifying the sample Golden Ratio portfolio, large cap stock funds, managed futures, and what beta does and does not tell you.

Links:

Fairfax CASA Donation Page:  Donate - Fairfax CASA

Andrew's Book:  Here I Walk: A Tho...

In this episode we answer emails from Matt, Michael, Stephen and Al.  We discuss expanding the spending muscle in retirement, the generosity of our listeners, more on the Four Quadrant model and its permutations, and how we stay connected to listeners without inhabiting the conference circuit.

And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.

Additional Links:

Fairfax CASA Donation Page:  Donate - Fairfax CASA

Cool Number Nerd Video:  Fibonacci Numbers hidden in the Mandelbrot Set - Num...

In this episode we answer emails from Dustin, Optimus Bill, Vaibhav, and Morrie.  We discuss how to vet a new "shiny object" ETF, why trying to "fix" target date funds is likely to be a fools' errand as their proper use is extremely limited, and transitioning into a retirement drawdown portfolio without obsessing over recent market highs.

In our Queen Mary segment, we also provide a Fairfax CASA fundraiser update and explain how your donations support foster care advocacy.

Links:

Fairfax CASA Donation Page:  Donate - Fairfax CASA

Morningstar Analysis of LC...

In this episode we answer emails from Ronald, George, Jeff.  We celebrate episode 500 by sharing a few “Easter egg” resources, then jump into listener questions that cut through common investing myths. We discuss a portfolio for a non-profit, rant about TIPS with a Wall Street Journal article to back us up, and talk about various choices in withdrawal methods.

And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.

Links:

Fairfax CASA Donation Page:  Donate - Fairfax CASA

Rant A...

In this episode we answer emails from Jose, Luc and Sara.  We discuss using specific tax lots to reduce capital gains when reallocating, how the 0% long-term capital gains bracket works and why many land in the 15% bracket, where to hold gold like GLDM across IRAs and taxable accounts, turning off dividend reinvestment to simplify moves and build retirement cash, replacing total bond and international bond funds with Treasury funds like VGIT and VGLT,, why diversification and value exposure can improve safe withdrawal rate odds, supporting and encouraging college-age kids with clear expectations, and tools to model short retirements and s...

In this episode we answer emails from Frank, Stephen (from Cincy), Jeff, and Sally.  We focus on a common retirement blind spot: once you are financially independent, portfolio tweaks matter less than the life choices you make with the time you have.  We also address those tweaks and then dig into HSA asset location traps, reflect on our listeners and our mission, and talk about our fundraiser for Fairfax CASA.

And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.

Links:

In this episode we answer emails from Dave, Marcus Vindictus, and Sharon.  We take a hard look at what “diversified” really means in retirement and why correlations matter more than fund count. We also talk about simplifying messy accounts, using AI to decode bad 401(k) menus, and making generosity a real part of financial independence.

And we do a fundraising update for Mary's charity, Fairfax CASA, and discuss how CASA stability changes kids’ lives in our Queen Mary segment.

Links:

Fairfax CASA Donation Page:  Donate - Fairfax CASA

Testfolio Fund Analysis:  Asset Ana...

In this episode we answer questions from Dustin, Optimus Bill and Scott.  We discuss the common mistake of chasing tickers and low fees instead of building a portfolio around goals and carefully chosen asset classes, cowbell origins, what to do with large allocations to cash equivalents and how much do you really need, and transitioning to a retirement portfolio.  Hint:  Search "transitioning" on the podcast page at the website for more podcasts about that.

We also review March market damage and show how diversified risk parity style portfolios hold up when stocks stumble.

And THEN we...