@Ted & Old_Skeet: Are both of you sure that somewhere in your portfolios a mutual fund does hold some tips # 7 ?
I have some in VG retirement fund.
Derf

https://www.sec.gov/Archives/edgar/data/1486174/000143510919000260/497chou.htm
497 1 497chou.htm
CHOU AMERICA MUTUAL FUNDS
Supplement dated June 5, 2019 to the Prospectus dated May 1, 2019
On June 5, 2019, the Board of Trustees (“Board”) of Chou America Mutual Funds (the “Trust”) approved a Plan of Liquidation and Dissolution (the “Plan”) pursuant to which the assets of the Chou Opportunity Fund and the Chou Income Fund (the “Funds”) will be liquidated and the proceeds remaining after payment of or provision for liabilities and obligations of the Funds will be distributed to shareholders. The Funds’ investment adviser (the “Adviser”) has recommended that the Board approve the Plan and the Board has concluded that it is in the best interest of each Fund’s shareholders to liquidate the Fund pursuant to the Plan.
In anticipation of their liquidation, the Funds stopped accepting purchases on June 5, 2019. Reinvestment of dividends on existing shares in accounts which have selected that option will continue until the liquidation. Shareholders will be permitted to redeem from the Funds prior to the Liquidation Date, according to the ordinary procedures for redemptions from the Funds described in this Prospectus. Francis Chou, the Portfolio Manager to the Funds and Chief Executive Officer of the Adviser, owns and controls a company that owns shares of each Fund. Mr. Chou intends for this company to remain invested in each Fund in an amount that would enable each Fund to have sufficient cash to satisfy any redemptions by the other shareholders.
The Funds will begin the process of winding up and liquidating their portfolio assets as soon as reasonably practicable. As a result, the Funds are no longer pursuing their respective investment objectives and strategies.
Each Fund will seek to complete the liquidation on or around the close of business on July 31, 2019 (the “Liquidation Date”). The Adviser anticipates that there may be certain portfolio holdings that will not be sold for cash prior to the Liquidation Date, such as the 1.75 Term Lien Loans of Exco Resources, Inc. (“Exco”) owned by each of the Funds. As further background, Exco is involved in an insolvency proceeding and, those loans have been deemed to constitute illiquid investments.
On the Liquidation Date, each Shareholder shall be entitled to receive its liquidating distribution(s) in the form of a pro rata interest in (1) the non-cash assets of the Fund or, at the Shareholder’s election, the cash equivalent of such assets (the “Cash-Equivalent Distributions”), and (2) the cash remaining after the Cash-Equivalent Distributions. However, a Shareholder will be required to receive Cash-Equivalent Distributions if there are any restrictions on the transferability or ownership of any non-cash asset that would prohibit an in-kind distribution of such asset or make it impracticable. Any transfers of the Exco loans, for example, are subject to the written consent of certain banks that are parties to the credit agreement.
If you own Fund shares in a tax deferred account, such as an individual retirement account, 401(k) or 403(b) account, you should consult your tax adviser to discuss the Fund’s liquidation and determine its tax consequences.
* * * *
For more information, please contact a Fund customer service representative toll free at
(877) 682-6352.
PLEASE RETAIN FOR FUTURE REFERENCE.

In May, we launched our 13-step financial life planner, which also attracted a slew of readers. But it seems many folks went straight to the end of the story, because the most visited page was step 13, which is devoted to generating retirement income.
I can understand & will read again.
Derf

I am a ZEO shareholder and have never paid a transaction fee. I don't use a broker. My wife invested in RPHYX a few years ago. We think of ZEOIX and RPHYX in a similar way: it's a "better mattress". I've been with ZEO a few years and I have gone directly to the transfer agent. Zeo uses Gemini in Omaha. Simple paperwork. No fee. ZEOIX shares are in a non-retirement account. Next week I'll have an IRA account in ZSRIX. If you want a ZEO fund in a 401k I suppose it might be harder to avoid a broker.

Thx
From. Newmax
DFA Real Estate Securities I (DFREX) has a one-year return of 21.65%. Its biggest holding is American Tower (AMT)/
Neuberger Berman Real Estate (NREAX) has a one-year return of 20.72%. Its biggest holding is also American Tower (AMT).
Principal Real Estate Securities (PRRAX) has a one-year return of 20.25%. Its biggest holding is Prologis (PLD).
Cohen & Steers Real Estate Securities (CSEIX) has a one-year return of 19.98%. Its biggest holding is Equinix (EQIX).
DWS RREEF Real Estate Securities (RRRAX) has a one-year return of 19.54%. Its biggest holding is Simon Property Group (SPG).
Read Newsmax: Barron's: 5 REITs for Income Investors to Consider
Important: Find Out Your True Retirement Date in Minutes Online! Go Here Now

https://www.kiplinger.com/slideshow/retirement/T037-S004-6-steps-to-snare-higher-yields-in-retirement/index.html
Steps to Snare Higher Yields in Retirement
Income investing is supposed to be like watching a predictable movie that you’ve seen a dozen times before. But lately, it has been full of plot twists. Over the past few years, most income investors settled back with their popcorn for a long period of rising interest rates, believing the Federal Reserve would slowly but surely hike rates back to more normal levels. For bond investors, that would mean some temporary pain—when rates rise, bond prices fall—but it would also bring the welcome relief of higher yields.
Couple funds mentioned in article
Vmmxx
Vfstx
Baird Core Plus Bond (BCOSX
Dodge & Cox Income (DODIX, 3%)

17 monthly dividend to buy hold forever
https://www.forbes.com/sites/brettowens/2019/05/26/17-monthly-dividends-to-buy-and-hold-forever/#1d6c416a48c7
Investors in turn often build complicated dividend calendars that get knocked out of whack whenever they ever have to cut back on certain stocks. May’s dividend check might be enough, for instance but June won’t be, forcing the investor to withdraw from his retirement fund, shaving away future income-generating potential.

Bonds are important to mitigate risk as one approach retirement or as the students start to pay for their college tuition with 529 funds. I agree the bond's yields are no where near the historical levels. Most average investors do not have access to other vehicles without incurring additional risk.

FYI: There were two recurring themes at the annual InvestmentNews​ Retirement Income Summit in Chicago earlier this month: the economic impact of increased longevity and the need for guaranteed income in retirement.
Retirement has traditionally been described as a long-term investment goal. That's true for the accumulation phase. But as clients near the retirement-distribution phase, financial planning needs to shift to risk management and capital preservation.
Regards,
Ted
https://www.google.com/search?source=hp&ei=OcrrXLLfOszGsAWW2om4Aw&q=How+to+battle+sequence-of-returns+risk&oq=How+to+battle+sequence-of-returns+risk&gs_l=psy-ab.12..33i22i29i30.3194.3194..8730...0.0..0.347.440.1j3-1......0....2j1..gws-wiz.....0.mCqDITIbkQ8

In doing a recent Instant Xray analysis of my portfolio I am currently holding, within my equity allocation, a little better than five percent in emerging markets. The two emerging market funds that I hold are NEWFX and DWGAX plus some global asset allocation funds along with some other funds that have some emerging market exposure. I'm thinking, for me now being in retirement, a seven percent position in emerging markets would be all that I'd want due to their volatility and performance over the past five year period. In doing a five year look back, NEWFX has gained an average of 3.2% per year while DWGAX has lost an average of -0.8% per year. However, for the past three year period they have both performed with average annual returns of 10.4% and 6.50% respectively. With this, they both have been underperforming funds when compaired to other funds held within the growth area my portfolio. It will be interesting to see what the next five year period brings. For me, they are both considered a contrarian investment play.
From Xray, within equities, I'm currently 1.27% Latin America, 0.42% Europe Emerging, 0.49% Africa/Middle East, and 3.18% Asia Emerging which brings my emerging market exposure to 5.36%. With this, I've got room for some more emerging market exposure before reaching my seven percent threshold. I'm also considering adding to my commodity strategy fund as many emerging market economies are also major commodity producers.

I have a staple portfolio of balanced funds with different % allocation targets. The only one I sold last year was GLRBX purely for tax management.
Some I hold in taxable, most in my retirement accounts.
PRWCX (MIL's money)
BTBFX, ICMBX, OAKBX, WHGIX, FPACX, JPVDX, VWELX, IFAFX, GRSPX
For those surprised I got an American Fund, I managed to get it with no load.
I need to see if VTMFX might be better for me than VWELX...

@MFO Members: Finally, here is the WealthTrack Mark Cortazzo video.
Regards,
Ted
https://wealthtrack.com/avoiding-disastrous-mistakes-the-danger-of-portfolio-volatility-in-retirement/

FYI: Following another year of strong flows from investors, assets in target-date mutual funds and target-date collective investment trusts totaled more than $1.7 trillion at the end of 2018. The persistent growth and massive amount of assets mean that target-date funds play a key role in helping more and more investors meet their retirement goals.
Here's a few highlights on the competitive landscape from Morningstar's recently released 2019 Target-Date Fund Landscape report.
Regards,
Ted
https://www.morningstar.com/articles/929906/price-continues-to-rule-the-targetdate-fund-landsc.html

@msf
You noted: "If this would be a joint account, it couldn't be an IRA."
My inclusion information for the Roth IRA or a custodial account for a minor is that this would be my preferred path for someone just graduating from high school. If they are not 18, then the "minor" account, which would then have to be transitioned to their stand alone Roth at age 18 (most states).
Fidelity's Roth for kids write
This is the large discussion here in April, 2017 revolving around Roth IRA's for minors.

I recall the money you're dealing with in this question is all traditional IRA, correct?
I'm confused about your portfolio.
You noted recently, that: "PRWCX = 32.35% of my stuff. I'm now bond-heavy, in retirement. It's my favorite, too, and my only balanced fund. I'm 61% bonds, 25% US equities, and 7% foreign equities. The rest is cash and cash equivalents and "other," according to Morningstar.
You also noted in this thread that PRWCX is closed to new investors. This is correct, I can not purchase. But, if you already hold PRWCX at TRPrice; are you not able to add to this fund?

Hi @Catch22,
That was my first thought. And, of course @Crash may add to PRWCX since he currently owns it, unless it’s a different type plan. In my own case, I own it in my traditional but not my Roth - both directly at TRP. The thought has occurred to me that I might do a Roth conversion on a small portion and hence also have capability to move money into the fund inside my Roth there. I haven’t checked with Price, but have every confidence that would work.
Personally, I sleep better spreading management risk around, even with a fund as fine as PRWCX. So I have roughly equal amounts in PRWCX and DODBX. As Crash mentioned, DODBX is probably a bit more volatile and subject to larger drawdowns in some markets. Another I hold is RPGAX. Don’t know if that would fit what Crash is looking for, but I happen to like it a lot.
Added: I understand how one can get google-eyed staring at the impressive returns of PRWCX. But be careful what you wish for. The fund’s had 3 or 4 managerial changes since inception. There will be more. Also, different funds perform better in different investing climates. No guarantee the fund will continue to perform so well in the future. Giroux is doing a lot of fancy footwork using puts, calls, options and other derivatives that, frankly, I don’t fully understand. Some of this success, such as his plays on utilities, has been a result of the extraordinary low rate environment we’ve been in. That will change someday. While I’m sure he knows what he’s doing, in investing certain styles come in and go out of favor.

I recall the money you're dealing with in this question is all traditional IRA, correct?
I'm confused about your portfolio.
You noted recently, that: "PRWCX = 32.35% of my stuff. I'm now bond-heavy, in retirement. It's my favorite, too, and my only balanced fund. I'm 61% bonds, 25% US equities, and 7% foreign equities. The rest is cash and cash equivalents and "other," according to Morningstar.
You also noted in this thread that PRWCX is closed to new investors. This is correct, I can not purchase. But, if you already hold PRWCX at TRPrice; are you not able to add to this fund?

Hi @Crash. I know you like TRP (so do I) so what about RPBAX?
I would also consider looking at retirement funds that are more diversified than the typical 60/40 domestic balanced fund. Should give a smoother ride (maybe) and you won't have to worry about which equities are in favor at any given time, International, domestic, large, small, ect.... I am considering that option myself versus my existing Schwab robo for a large part of my money.
Good luck!

FYI: Avoiding disastrous mistakes in retirement with award-winning financial planner Mark Cortazzo..
Regards,
Ted
https://wealthtrack.com/avoiding-disastrous-mistakes-the-danger-of-portfolio-volatility-in-retirement/

PRFDX was hot out of the gate in the 90s (inception 1985). Talk of the fund community for several years and highly prized by investors. So hot that manager Brian Rogers became a regular on Wall Street Week. Seems to have taken a wrong turn somewhere along the way - though value has been out of favor for years. Not that it’s a bad fund. It isn’t. But hasn’t lived up to the earlier high expectations. I haven’t observed anything outstanding from the fund in near 20 years compared with some of Price’s other offerings. (But perhaps I haven’t looked hard enough.)
Back to Rogers - He retired 2 years ago (2017). Here’s a brief blurb published prior to his retirement.
BRIAN C. ROGERS
Brian, 61, joined T. Rowe Price as a portfolio manager in 1982 and is currently chairman of the Board and chief investment officer. Previously, he served as portfolio manager of the U.S. Large-Cap Equity Income Strategy and the Equity Income Fund for 30 years, beginning with their inception in 1985. From 1994 to 2003 Brian was the first manager of the U.S. Value Equity Strategy and the Value Fund, and he was a founding member of the team managing the U.S. Large-Cap Value Equity Strategy from 2000 to 2015. He was elected to the firm's Board of Directors in 1997, joined the Management Committee in 2003, and was named Board chair in 2007. https://troweprice.gcs-web.com/news-releases/news-release-details/t-rowe-price-chairman-and-cio-brian-rogers-retire-march-2017

A $63 billion behemoth, the VNQ fund from Vanguard is one of the most popular ways to invest in real estate via a brokerage account or retirement plan. The portfolio spans all manner of companies that own properties, ranging from health care facilities to hotels to malls. There are about 200 component stocks that make up this real estate ETF. That's a very diversified list and at a relatively cheap fee structure at just 0.12% annually in expenses. You'll only pay about $12 per year on every $10,000 invested.