Had given up on many of the funds listed in this string. But I stayed with HMEZX, despite Nexpoint having a questionable partner history (via Highland Capital - J. Dondero). It is a red flag for many.
But HMEZX has been a solid "steady eddy" performer. Returns are bond-like, and it has outperformed other merger-arb funds. If not for that 1 red flag, I would own a lot more.
Another interesting vehicle is HRSTX, which converted a few years back to an options-based fund. Very steady, with great performance during negative market periods since its 2018 conversion.

M* classifies TIAA-CREF Lifestyle Income Fund as a 15%-30% allocation fund. In the summary prospectus, TIAA benchmarks the fund against M*'s Conservative Target Risk Index, which is a static 20/80 index.
https://www.tiaa.org/public/investment-performance/investment/profile?ticker=93570885
It's a fund of funds targeting a 20% allocation to underlying equity funds. Its current portfolio holds 19.86% in equities (per M*).
Its performance (raw or risk-adjusted) doesn't compare favorably to a target date retirement income fund like VTINX, let alone a 30%-50% fund like VWINX.
The fact that you're looking at the advisor class of shares rather than the retail class of shares (TSILX) suggests that this is being proposed for (or is already in) a managed portfolio. For that purpose, it's a serviceable fund, but nothing I'd get excited about.

The CPI-W data above has been updated to include September. You now have all the data necessary to calculate exactly the 2022 COLA. Be the first on your block with the number.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 5.9 percent over the last 12 months to an index level of 269.086 (1982-84=100). For the month, the index rose 0.3 percent prior to seasonal adjustment.

https://data.bls.gov/timeseries/CWUR0000SA0?amp%3bdata_tool=XGtable&output_view=data&include_graphs=true

5.9%. https://www.ssa.gov/news/press/releases/2021/#10-2021-2

Signs of progress with the rehabilitation of Jack Ma.
Jack Ma resurfaces in Hong Kong

+1

Before you pull the trigger on SCHD you might want to revisit this thread posted earlier this summer. Lynn Bolin had a lot to say about Revisiting Defensive Funds.
I have been using DIVO for sometime now and I am pleased so far. I also hold a position in CDC but everyone has different needs, wants and portfolio's.

Here’s a clip of what Ed said re cash:
“So, back to asset allocation – obviously have enough cash reserves to fund at least two years of living expenses, in insured certificates of deposit. There is a market to be shopped there in smaller banks and credit unions, with nine to twelve month certificate yields running between 35 and 45 basis points. In terms of currencies, if your liabilities are dollar-denominated, your investments also should be. The exception is using international funds that do not hedge back their foreign currency exposure to dollars. In terms of bonds, favor those with maturities of less than a year, generally using some of the ultra-short bond funds available from Vanguard or Northern Funds.“
@bee Good point on oil. It’s taught me the value of patience and sticking to your guns, as most of us abandoned our oil positions way back and watched its price fall into negative territory (early 2020). Yet - here it is at near $83. I remember T Boon Pickins predicting this price rise a few years ago. T. Boone had it right. Unfortunately he died in 2019.

+1

Saying any of these funds should be used as "cash" positions is inaccurate, isn't it? Sounds more like a 'want' for income generating funds. Certainly not cash. Maybe you can stretch the term cash using ultra short bonds, but I wouldn't say any holding that can easily drop 5-10-15% can be considered cash equivalent. Just my 2 cents.

At Schwab today TBUX traded only 1k shares, so it may not have caught buyers’ eyes.

+1 Also E-Trade is a possibility- VWEHX is ntf with a $3,000 minimum;however, E-Trade may not immediately carry these 2 new funds .

https://www.sec.gov/Archives/edgar/data/1141819/000089418921007276/marketfieldtpmreorgsticker.htm
497 1 marketfieldtpmreorgsticker.htm MARKETFIELD FUND 497E
Filed pursuant to Rule 497(e)
Registration Nos. 333-62298; 811-10401
MARKETFIELD FUND
A series of Trust for Professional Managers (the “Trust”)
Supplement dated October 12, 2021 to the
Prospectus, Summary Prospectus and Statement of Additional Information (“SAI”)
dated April 30, 2021, as supplemented
At a meeting held on September 22, 2021, the Board of Trustees of the Trust approved an Agreement and Plan of Reorganization (the “Plan of Reorganization”) relating to the Marketfield Fund (the “Fund”), a series of the Trust. The Plan of Reorganization provides for the reorganization (the “Reorganization”) of the Fund into the Cromwell Marketfield L/S Fund (the “New Fund”), a newly-created shell series of Total Fund Solution, a newly-created open-end registered investment management company. The Board of Trustees of Total Fund Solution approved the Plan of Reorganization on September 17, 2021.
A notice of a special meeting of shareholders and a combined proxy statement/prospectus (the “Proxy Statement”) seeking Fund shareholder approval for the Plan of Reorganization will be sent in the near future to Fund shareholders. The special meeting of shareholders is expected to occur on or about January 12, 2022. If the Plan of Reorganization is approved by Fund shareholders, Class A, Class C and Class I shareholders of the Fund will receive Investor Class, Class C and Institutional Class shares, respectively, of the New Fund having the same aggregate net asset value as the shares of the Fund they hold on the date of the Reorganization. The Reorganization will not affect the value of your account in the Fund at the time of the Reorganization. The Reorganization is expected to be treated as a tax-free reorganization for federal income tax purposes. The New Fund's management fee and expense ratio after fee waivers and/or expense reimbursement will remain the same as the Fund.
Prior to the Reorganization, which is expected to occur on or about January 21, 2022, Marketfield Asset Management LLC (“Marketfield”), the Fund’s current investment adviser, will continue to manage the Fund in the ordinary course. After the Reorganization, Cromwell Investment Advisors, LLC (“Cromwell”) will serve as investment adviser for the New Fund and Marketfield will serve as the investment sub-adviser for the New Fund. Michael C. Aronstein and Michael Shaoul, the current portfolio managers for the Fund, will also be the portfolio managers of the New Fund and will continue to be responsible for the day-to-day management of the New Fund’s portfolio. The New Fund will have the same investment objective and substantially similar investment strategies, policies, and risks as the Fund, as are currently set forth in the Fund’s Prospectus and Statement of Additional Information. A comparison of the investment policies and strategies of the Fund and the New Fund will be provided in the Proxy Statement. Cromwell and Marketfield have agreed to assume all of the costs of the Reorganization.
Fund shareholders may purchase and redeem shares of the Fund in the ordinary course until the last business day before the closing of the Reorganization. Purchase and redemption requests received after that time will be treated as purchase and redemption requests for shares of the New Fund.
Please retain this Supplement for future reference.

@ron - PRFDX is a stock fund. Back from the death because it had several lousy years before dividend paying stocks started to shine. ALAAX is one I owned briefly, I really like the approach but fees are too high and some of the underlying funds are suspect. That said, they’re only running 30-40% stocks compared to near 100% for PRFDX. So … maybe a fund that is similar to ALAAX, but with lower fees. Actually, many of the 40 / 60 funds might be what you’d tolerate. I use PRSIX. TRRIX is similar and equally fine. However, these do not focus only on dividend paying stocks - so I did not raise them earlier.
Good luck
Here’s your original question: Large Cash vs bonds or dividends? Nothing wrong with cash for older investors. It won’t keep up with inflation, but certainly helps sleep better. There’s been quite a bit of discussion here over whether the equity / commodity markets are valued rationally.

”See Ed Studzinski's commentary this month.”

Interesting commentary. Ed seems of the opinion we’re facing hyper-inflation. (But please read it yourself and draw your own conclusions.) He doesn’t much address ron’s question if I understand what ron is asking (kind of vague).
But, yes, as I think Shostakovich observes, Ed recommends staying very short on your fixed income duration - out to only a year or two. He points to 2 funds he likes that do that. Since “dividends” usually refers to stocks, not bonds, I gather that ron is contemplating some type of fund that invests in dividend paying companies. Hmmm … Tough call because these types of funds have run up a lot (ie PRFDX) this year and I never like buying high. But, what do I know?
A fund like like RPSIX will provide maybe 15-25% exposure to stocks while still playing mainly in the fixed income area. Not a bad choice - however, the bond duration is likely longer than Ed recommends. And there are combo funds like ALAAX that carry a slightly higher equity content - while still focusing on the income producing type stocks.
Real estate is sometimes included in that area, but it’s had a great run up this year. I’d be loath to buy a REIT at these levels. I’m thinking a utilities fund might be a better value if seeking dividend paying companies.
Full disclosure: I’m using a lot of GNMA funds in my fixed income portion. They’re on the relatively shorter end of the duration curve presently (for the type of fund) - only out 3-5 years, but still much farther out than Ed deems prudent. I like that they’re of a higher quality credit than corporate bonds and I don’t mind loosing a bit of $$ on them as long as the equity / risk-asset areas keep climbing.
No easy answers.
Here’s 1 out of many articles on using dividend paying stocks or funds. I haven’t had time to read it closely, but it appears something ron might find of interest - if only to encourage him to do more research on the subject. Here

Update:
https://www.sec.gov/Archives/edgar/data/836906/000168386321006006/f10017d1.htm
497 1 f10017d1.htm CORE-PLUS & MULTI-SECTOR INC BOND FUNDS SUPPLEMENT
 
Vanguard Multi-Sector Income Bond Fund
Supplement to the Prospectus and Summary Prospectus Dated October 12, 2021
Vanguard Multi-Sector Income Bond Fund is not presently available for investment.
 © 2021 The Vanguard Group, Inc. All rights reserved.
Vanguard Marketing Corporation, Distributor.PS 4181 102021
 
Vanguard Core-Plus Bond Fund
Supplement to the Prospectus and Summary Prospectus Dated October 12
Subscription period
Vanguard Core-Plus Bond Fund (the “Fund”) is holding a subscription period from October 12, 2021, through October 22, 2021. During this period, purchases of the Fund will be held in a custody account rather than being invested. This strategy should allow the Fund to accumulate sufficient assets to better construct a portfolio and is expected to reduce initial trading costs. The Fund reserves the right to terminate or extend its subscription period prior to October 22, 2021.
During the subscription period, you may invest in the Fund online (if you are registered for online access), or you may contact Vanguard by telephone or by mail to request this transaction. Please see the Investing With Vanguard section of the Fund’s prospectus for more details about requesting transactions.
 
© 2021 The Vanguard Group, Inc. All rights reserved.
Vanguard Marketing Corporation, Distributor.PS V001 102021
 
Vanguard Malvern Funds
 
Supplement to the Statement of Additional Information Dated October 12, 2021
 
Vanguard Multi-Sector Income Bond Fund is not presently available for investment.
© 2021 The Vanguard Group, Inc. All rights reserved.
Vanguard Marketing Corporation, Distributor.
SAI 4181A 102021

+1

Inception Date: 9 / 28
Opened at $50. Dropped by 3 cents today (NAV $49.97)
TBUX Chart from Lipper (Growth of $10,000):

Should be a great fund. I’d expect assets to grow quickly. Fido = 99% good. But occasionally they toss a curve ball.
How about a limit order above ask? Pretty sure I read that you can do it to insure a purchase.

Regardless of when SSA makes its official announcement, because COLA is a derivative everyone will know its value the instant the final underlying figure (CPI-W for Sept 2021) is released.
We already know exactly when that will be:

Next Release
September 2021 CPI data are scheduled to be released on October 13, 2021, at 8:30 A.M. Eastern Time.

https://www.bls.gov/cpi/
Here's how to compute it:
https://www.ssa.gov/oact/cola/latestCOLA.html
All the necessary numbers aside from the Sept CPI-W figure are already here:
https://data.bls.gov/timeseries/CWUR0000SA0?amp%3bdata_tool=XGtable&output_view=data&include_graphs=true

Perhaps of interest to those with REIT holdings and to those considering them. Includes a link to the referenced M&A and Strategic Transactions Monitor report.

A new report from JLL’s Capital Markets M&A and Corporate Advisory details the surge of $108B in REIT M&A transactions and general outlook for the sector.

REIT M&A boom continues