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In a follow up to my previous thread I would like to let you know what decision I made. After a discussion with my parents, we decided that moving my holdings from Vanguard's Wellington Fund to their Total Stock Market Admiral Fund would be a good decision. I have since completed the transaction and am very happy to be involved in an index fund like this. Thank you Bogleheads and a special thanks to BL who recommended this fund!
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Thank you for letting us know what you decided and I wish you well. This fund is one leg of the 3-fund portfolio that many of us on this site have in various proportions (Total Stock, Total International, and bonds or other fixed income).
Something you might also want to learn about is I-Bonds at TreasuryDirect.gov. They work a bit like bank CDs, are federally guaranteed, but follow inflation automatically and can be bought in small amounts in electronic accounts or can even be received in paper as income tax refunds. They might be better for shorter-term needs as they mature in 30 years with tax due on interest, and that might be your higher earning years. They can be cashed in in 1 year and after 5 years there is no longer a 3-month interest penalty. Of course, they are steady, plodding bonds which lack the excitement and risk of the stock market, but do not lose value when interest rates soar, and are a nice counterpoint to stocks.
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