an advisor friend of mine was talking about how great these buffer products were for their clients. They use innovators but I'm like the outcomes since these became things have been awful. the 2020's have given us +18/+29/-18/+26/+25 market returns. This completely obliterates the return profiles of defined income and buffered ETF's. anything with floor/caps.
These seem reasonable to an investor IMO because they don't realize the market doesn't fall into these buffer zones as much as they think they do. When you see the market returns 9% historically, its easy to assume that most years fall in that range but they don't. its like 33% of all years are in the typical floor/cap returns (-10% to 15%) and like 60% of them are in the above 15%.

We have the option to discontinue the medical part of auto insurance in Michigan. Having a good health plan, I opt-out. Unfortunately, for my insurer this involves signing and mailing in a form every 6 months or you default back to the more expensive plan. The opt-out is somewhat hidden inside a 5-6 page document, extremely confusing to read through with several different options one may check off (most of which don’t apply to you). I made a paper copy of one before mailing it and simply pull that out every 6 months as a model rather then wading through it all over and over. Looks like a game to me to keep those w/o the reading skills or interest in the matter continuing to pay higher premium for insurance they don’t need or can’t afford.
I have generally adhered to the advice @msf’s father related to him. 5 years (+ -) would seem a reasonable time to stop collision coverage. Maybe a bit longer with today’s more expensive to repair “computers on wheels.” With comprehensive coverage, however, ISTM you get quite a bit for a small price. Covers storm damage, glass breakage, stone chips from debris and striking a deer or other critter. I carry a $2500 collision deductible. Have considered going even higher for a bit greater savings. At some point it becomes a comfort issue, as most here could probably afford to replace a totaled vehicle.
One element that gives me pause is that my insurer covers collision damage to rented vehicles up to the amount your own car is covered. I had a rental totaled in Florida 15 years ago by a distracted commercial truck driver who took out 3 passenger vehicles that were waiting at a red light. My insurer picked up the entire bill. Did not have the expensive insurance from the rental car company. So, I’d not want to drop collision unless prepared to pay for coverage at the rental counter.
Added - If you finance your vehicle all bets are off. Lenders often mandate full collision / comprehensive coverage. That’s one good reason not to finance a vehicle. I’ve never leased, but would imagine terms are similar when it comes to insurance.

@Crash: kudos to you for helping your niece get an education. My hasty reading the first time through had me wondering if sending money to Australia was a new idiomatic expression for kissing money goodbye. Au contraire! I, too, will fund education, but I become very stingy when relations want dough for something else.
@rforno: way back in the late sixties when my wife and I were building castles in the sky, we heard of an Aussie scheme that would pay us to settle there in return for teaching for two years. Naïve at the time, we had no idea that trying to attract « people like us » was part of a plan to populate the country with whites as opposed to Asians. It’s quite ironic now because Madame and I ended up with 5 Asian adoptees. When we lived in Berkeley, a friend told me we fit right in because no one looks like their parents there. Sadly, I can’t say that level of tolerance can be found just anywhere in the US of A.

At the risk of boring posters about CD information on this thread, I did a review of CD offerings at Schwab this morning. For non-callable CDs, with a maturity of one year or longer, the non-callable CDs have stayed pretty similar now for the past few weeks--pretty much from 4% to 4.1%, with a few new institutions making those rate offers. Callable CDs have also stayed pretty much the same, although there have been a couple of offerings that were slightly higher, but still with first call dates in July 2025. My local credit union, offering of a non-callable CD/share certificate of 4.5% for one year, remains the most attractive offer for my existing cash from a matured CD.

Great post @yogibearbull.
Me and the missus have been together since we were kids. Back in the 70's-80's, she easily (and proudly for her) would have been on a Top 10 List nationally of spouses who had ZERO interest in all things financial, especially investments.
After all these years, that interest level of ZERO might now at least be a ONE or TWO.
Yeah, her interest level is still a challenge for me.
BUT, over all these years, I felt it was my duty and obligation to not concentrate on her interest level, but rather address her acumen by educating her on all things financial, especially investments.
So I did, albeit with her kicking and screaming in the early years!
And now, after ~50 years, despite still negligible interest, she is a walking, talking authority on US stock OEFs and ETFs and CDs (our investment vehicles of choice), well, at least the ones that are worthy of our investment dollars.
Leaving a written plan might help the dying spouse feel that they've done their part in the marriage. But good luck to the surviving spouse with all that, as yogi has so eloquently detailed.
Aside: We currently manage the portfolios of several friends and relatives, including two widows whose hubbies had left them written plans that they had ZERO interest or ability in following.
YMMV. As may your take on how this critical element should be handled.

Planned early January annual chunk taken from the portfolio. This year, it's bigger: sending the (foreign) niece to go to school (and eventually permanent immigration) in Australia. Nice to be able to do it. The satisfaction is worth more than the money. I wanted to spread it out, so:
Small-ish bites from:
PRWCX
PRCPX
TUHYX
WCPNX (in taxable.)
The tax lady assures that I STILL will not reach taxable income level necessary to BE a federal taxpayer, again, for 2025. Nice. RMDs must start in 3 years at age 73. But in a backhanded way, these yearly withdrawals keep the portfolio from appreciating too much, thus reducing the amount of future RMDs. In the meantime, good things get done with the "green." :)

Both TRBCX and TBCIX had high distributions, so there won't be relief from CG distributions from class conversion.
Ex-div 12/12/24
TRBCX distribution $16.9089, reinvestment price $193.34
TBCIX distribution $17.1255, reinvestment price $194.51
Of course, you don't get taxed on unrealized CG in tax-free conversion.

Order for a 500s starter position in BKH fired this afternoon.

There is certainly a mismatch in the generally announced ex-div date 12/26/24 & the ex-div date on which the exchange reduced the price, 12/27/24.
In cases where there is a discrepancy, the official ex-div date is that on which the exchange takes action. All else are guesses or estimates. Investors may be confused, & sometimes the companies too.
It could be that the firm is in touch with the SEC about this & may be waiting for a response. It's a bond fund with little daily price changes. So, the error may be just let go, or corrected retroactively. As it is, those reinvesting got a slightly higher price by this mismatch.

I do not see a difference between the fund and exchange actions. anyone that owns will tell us their Div was reinvested at a brokerage at the higher $10.10 because that is the reinvestment NAV the fund provided to the brokerage. It is in the best interest of the fund to be transparent about how the mistake happened and how it gets fixed. It is not just about the dollars impacted when there is a business process failure.
For lack of clarity and quick remedial action, I just held back from buying into it today using my large called CD proceeds (5% of PV). Will move to a different fund company.

Not sure the three basis point discount compared to the OEF is going to attract much attention.

The way I am reading the information is that the difference between the ETF and the regular fund is 25 basis points. That combined with intra-day liquidity seems to warrant a serious look if one was already interested in the regular fund.

Are most funds moving to unitary management fees? These are more akin to total expense ratio for non unitary funds, correct?

WisdomTree BTCW waived ER for 6 months and the website shows 25 bps now. Other sites haven't updated.
https://www.wisdomtree.com/investments/etfs/crypto/btcw
Largest are IBIT and FBTC.

msf, you are absolutely correct! My Schwab assigned Personal Account Representative has previously informed me that there is a list of local FAs, that they can provide to me, if I want to work with someone locally. We have not gone down that path "yet", but we have discussed it as an option. The important thing for me is to involve my wife in these decisions, and to ensure she is part of the decision, whatever that may be. And concerning the "option" of switching my banking arrangement to an online experience with Schwab Brokerage, that has been discussed periodically on these financial forums in the past, and it has been adopted by a few posters I know very well. If it was just a decision I was making for myself, then I would look at it in more detail. But Banking in my situation, is always "joint" banking arrangements, and I always have my wife's input/participation in those decisions. We have been married over 50 years, and I know how frustrated my wife is with online financial processes, and she would never agree to online, joint banking systems. Just because it is possible to do it, does not mean it is something that you should do, especially if it will upset and be resisted by your wife.

DT, you know I like and respect you, but often it boils down to your wife and extremly limited options in a 10-mile radius.
What would happen if there was only one lousy bank and nothing else?
I think the best choices long term are mutual funds. If I'm gone, my wife has to drive to the local Schwab and meet with our local rep so he can sell all other funds and do the following.
Another possibility could be that I grow old and decide to implement it anyway. I can do it all online.
I'm not letting any bank (even not BofA + Merrill) or CU hold my money except 3-6 months cash.
In order to make my wife's investment decisions easier, I set up a written plan for her to invest in only 3 funds. I only trust 2 choices indexes + Vanguard funds managed by Wellington for long term hold. Wellington Management is the oldest, it's conservative, team style, and not one dominant manager, with a very cheap expense ratio. Since our money isn't with Vanguard, we would have to own the more expensive funds(not Admiral), but it's still cheap.
For a younger age, until age 75 and still having a taxable account...50% VWINX(40/60)...taxable=20% VWAHX(HY Muni)...30% VSMGX (60/40 invested in 2 US + 2 international indexes). Since HY Muni bonds are hybrid, this portfolio is more like 40/60.
Older than 70-75 or taxable account is gone: 40% VWINX(40/60)...30% VWEHX(HY Corp)...30% VSMGX(60/40). Since HY Corp bonds are hybrid, this portfolio is more like 35/65(stocks/bonds).
As long as I'm managing the portfolio, I will be using my style.

FD, what you and your wife do in the future is a private and personal issue, that you will have to resolve. Other poster opinions will be based on their unique situations. I am absolutely sure, my wife and I will go down our own unique path, and I am absolutely sure my wife would not be willing to tolerate a "written plan" that involved mutual funds that "I" trust, or would tolerate. She will live her life, with "her" tolerances, and based on some arrangement that she accepts. The type of situation that she most often quotes to me, is that of what several of our lifelong close friends have--they have a "financial advisor" who works for an investing firm. Our friends do not have the investing skills to perform self-directed investing decisions. My wife will need a professional to hold her hand, attempt to meet her financial wishes, and try to avoid investing decisions. Our friends will be her "support system", and I will be a "cherished memory" who is not available any longer to help her.
Now, the current topic has become the idea that it would be good to have all banking activities rolled into the brokerage umbrella that we have developed with Schwab. I know my wife, I know her needs, I know her frustration level, I know her financial skills, and I know what she would prefer. All she knows is banking activities, tied to local brick and mortar banks, located close to our residence. That is what our friends do with their banking as well, including a friend who uses Schwab for his investments. My wife would be very resistant if I tried to impose online banking, through Schwab brokerage. Others know what will work for them, maybe very different than my situation with my wife--that is fine and none of my business.

AAII Sentiment Survey, 1/1/25
BULLISH remained the top sentiment (35.4%, below average) & neutral remained the bottom sentiment (30.4%, below average); bearish remained the middle sentiment (34.2%, above average); Bull-Bear Spread was +1.2% (below average). Investor concerns: Budget, debt, inflation, the Fed, dollar, geopolitical, Russia-Ukraine (149+ weeks), Israel-Hamas (64+ weeks). For the Survey week (Th-Wed), stocks down, bonds flat, oil up, gold up, dollar up. NYSE %Above 50-dMA 29.41% (oversold). SSA WEP & GPO repeal signing on Jan 6. Carter's state funeral on Jan 9 - US stock market closed. #AAII #Sentiment #Markets
https://ybbpersonalfinance.proboards.com/post/1808/thread

@FD1000 : Last CG for VSMGX 27 as per Yahoo, ouch!! Maybe the info is bad?
Added, 27appears wrong, realized $1.50 - unrealized $12.44

"Excellent" observations by the quacks.
I didn't beat the SP500 in 2023-4. Not even close, and I don't need it.
It's all at (https://fd1000.freeforums.net/post/446)
I know that none of you can do it; just keep quacking. I already have heard it for at least 15 years.
Remember, I was told that I don't have a clue; I will never retire, I will never make it in retirement and timing + low SD could not be done.
The reality is completely different. I only need about 1% from my portfolio to keep my nice lifestyle for decades without any pension or an inheritance.
Observant1: hindsight?
FD: It's much easier to throw stones. Many of my trades and analysis are on my site. You may learn something.
I also have several trades I made in the past several years where I sold before major meltdowns in 2020 and 2022 and when I bought back.

IMO, you must cut it down to 5 funds.
Get used to a very limited number of funds and a max of only 2 fund switches per year.
If not, that leads to more confusion, overlapping, overtrading, and making less money.
Research shows that young investors usually do the above more than retirees.

In the linked table, highlighted are SWPPX/SP500, QQQ/Nasdaq100, AVUV/SC. Those are fine starting choices, but mix will matter - most in SWPPX, some in QQQ, little in AVUV.

DT, you know I like and respect you, but often it boils down to your wife and extremly limited options in a 10-mile radius.
What would happen if there was only one lousy bank and nothing else?
I think the best choices long term are mutual funds. If I'm gone, my wife has to drive to the local Schwab and meet with our local rep so he can sell all other funds and do the following.
Another possibility could be that I grow old and decide to implement it anyway. I can do it all online.
I'm not letting any bank (even not BofA + Merrill) or CU hold my money except 3-6 months cash.
In order to make my wife's investment decisions easier, I set up a written plan for her to invest in only 3 funds. I only trust 2 choices indexes + Vanguard funds managed by Wellington for long term hold. Wellington Management is the oldest, it's conservative, team style, and not one dominant manager, with a very cheap expense ratio. Since our money isn't with Vanguard, we would have to own the more expensive funds(not Admiral), but it's still cheap.
For a younger age, until age 75 and still having a taxable account...50% VWINX(40/60)...taxable=20% VWAHX(HY Muni)...30% VSMGX (60/40 invested in 2 US + 2 international indexes). Since HY Muni bonds are hybrid, this portfolio is more like 40/60.
Older than 70-75 or taxable account is gone: 40% VWINX(40/60)...30% VWEHX(HY Corp)...30% VSMGX(60/40). Since HY Corp bonds are hybrid, this portfolio is more like 35/65(stocks/bonds).
As long as I'm managing the portfolio, I will be using my style.

My son just turned 31 and I'm recommending 100 percent stocks for him until he gets to age 50 or so.
SCHD, I note from your list. If you're taking dividends, be sure to reinvest them. Otherwise, just choose funds which do not pay dividends. But reinvest all profits. TCAF is run by David Giroux. I'd say get into that one, before anything else. Giroux has the best long-term track record in the business.
AVLV looks attractive. "...Avantis' managers build this portfolio from stocks that roughly land in the top 90% of the US market by market cap, with a few exceptions. They exclude REITs and regulated utilities..." (Morningstar.) I have come to agree with David Sherman of Crossingbridge, who asserts that REITS are just plain a bad investment. The shares can just be watered-down, anytime.
I'll let some others add, here.