Search found 816 matches

by WanderingDoc
Sun Nov 05, 2017 1:07 am
Forum: Investing - Help with Personal Investments
Topic: Looking for multiple sets of eyes to review
Replies: 51
Views: 5081

Re: Looking for multiple sets of eyes to review

. . . . . . I have to commend KlangFool here. For the level of misinformation and general disdain for real estate investing on this forum, I am happy that some basic REI principles are not lost. +1 Interesting point. Also commend "KlangFool". Although perhaps more misinformation and "outside of one...
by WanderingDoc
Sun Nov 05, 2017 12:58 am
Forum: Investing - Help with Personal Investments
Topic: S&P 500 -- Ten Years Thoughts?
Replies: 45
Views: 6069

Re: S&P 500 -- Ten Years Thoughts?

Hi Bogleheads! Just wanted to get my thoughts in order. In the 10 years from 1998 onward, on a $10k investment, the S&P 500 dropped massively and only recovered at the 11th hour, returning a few hundred dollars above investment. Question: This return doesn't include accumulation, I don't believe. I...
by WanderingDoc
Sat Nov 04, 2017 10:37 pm
Forum: Investing - Help with Personal Investments
Topic: Looking for multiple sets of eyes to review
Replies: 51
Views: 5081

Re: Looking for multiple sets of eyes to review

Are you sure there isn't a relatively cheap S&P 500 fund? +1. It might be worthwhile for the OP to contribute to 457/403b in order to get Earned Income Tax Credit or Saver's Credit. KlangFool Another +1 Was going to come back and say that even an S&P500 fund at 30 basis points, which would make BHe...
by WanderingDoc
Fri Nov 03, 2017 11:31 pm
Forum: Investing - Theory, News & General
Topic: Dave Ramsey sounded like a Boglehead today (Nov 2 2017)
Replies: 33
Views: 6287

Re: Dave Ramsey sounded like a Boglehead today (Nov 2 2017)

Real estate affords you much more control, much more cash flow, and much better tax treatment. I don't follow DR but this all seems logical to me. Yes, but with individual properties, you run into the same non-systematic risk you get with individual stocks. I'm not opposed to a tilt toward REIT's i...
by WanderingDoc
Fri Nov 03, 2017 1:15 am
Forum: Investing - Theory, News & General
Topic: Dave Ramsey sounded like a Boglehead today (Nov 2 2017)
Replies: 33
Views: 6287

Re: Dave Ramsey sounded like a Boglehead today (Nov 2 2017)

1. I max out my 401k --> A Boglehead move 2. I do backdoor Roth IRAs --> A Boglehead move (** actually surprised he mentioned this as it's confusing and income bracket specific) 3. The rest of my extra money I put in a "no-load" S&P500 index fund --> A Boglehead move. 4. When my index fund gets big...
by WanderingDoc
Thu Nov 02, 2017 2:01 am
Forum: Investing - Help with Personal Investments
Topic: Market Crash Defensive Portfolio
Replies: 30
Views: 4741

Re: Market Crash Defensive Portfolio

Do you think it would be a good defensive portfolio in case of a market crash? In the crashes of both 2011 and 2016 your portfolio did worse than a vanilla 60/40 portfolio. How does one measure best and worst for these kinds of things? The best portfolio during a crash is probably 100% iBonds. But ...
by WanderingDoc
Thu Nov 02, 2017 1:58 am
Forum: Investing - Help with Personal Investments
Topic: My 401k is almost all cash now. 1/2 Mil
Replies: 89
Views: 10355

Re: My 401k is almost all cash now. 1/2 Mil

My strategy was, once market drops 20% I will start buying again. It worked in 2008. I moved 100% in sp500. Kept on selling till 2016 Feb. Now I am just waiting. I may start DCA into SPY a little bit and hope for a crash in next few years. Can you elaborate a little more? When in 2008 did you sell ...
by WanderingDoc
Wed Nov 01, 2017 11:13 am
Forum: Investing - Help with Personal Investments
Topic: S&P 500 -- Ten Years Thoughts?
Replies: 45
Views: 6069

Re: S&P 500 -- Ten Years Thoughts?

Hi Bogleheads! Just wanted to get my thoughts in order. In the 10 years from 1998 onward, on a $10k investment, the S&P 500 dropped massively and only recovered at the 11th hour, returning a few hundred dollars above investment. Question: This return doesn't include accumulation, I don't believe. I...
by WanderingDoc
Sat Oct 28, 2017 11:28 pm
Forum: Investing - Help with Personal Investments
Topic: S&P 500 -- Ten Years Thoughts?
Replies: 45
Views: 6069

Re: S&P 500 -- Ten Years Thoughts?

Hi Bogleheads! Just wanted to get my thoughts in order. In the 10 years from 1998 onward, on a $10k investment, the S&P 500 dropped massively and only recovered at the 11th hour, returning a few hundred dollars above investment. Question: This return doesn't include accumulation, I don't believe. I...
by WanderingDoc
Sat Oct 28, 2017 11:14 pm
Forum: Investing - Theory, News & General
Topic: 'A History of the United States in 5 Crashes' book
Replies: 11
Views: 2146

Re: 'A History of the United States in 5 Crashes' book

Here it is: This is based on table 13-4 from p. 172 of the 2015 Ibbotson SBBI Classic Yearbook. Year, decline 1932 79.00% 2009 54.00% 1974 51.86% 1920 50.96% 1938 49.93% 1948 37.18% 1970 35.46% 1907 34.22% 1900 30.41% 1987 27.32% 1962 22.80% 1888 22.04% 1903 21.67% 1898 21.13% 1910 20.55% So, what h...
by WanderingDoc
Sat Oct 28, 2017 8:18 pm
Forum: Investing - Theory, News & General
Topic: 'A History of the United States in 5 Crashes' book
Replies: 11
Views: 2146

Re: 'A History of the United States in 5 Crashes' book

You guys echo my sentiments exactly. I am also unsure why the '1907, 1927, 1987, 2008, and 2010' years are selected as printed on the front of the book. Looking at another thread in this subforum where it lists the worst loss years during the last 100 years or so, the choices of the book don't see t...
by WanderingDoc
Sat Oct 28, 2017 5:26 pm
Forum: Investing - Theory, News & General
Topic: 'A History of the United States in 5 Crashes' book
Replies: 11
Views: 2146

'A History of the United States in 5 Crashes' book

Has anyone read this tome? Just noticed it at my local B&N. Reading about financial topics can be dry but I do appreciate the occasional interesting read.
by WanderingDoc
Sat Oct 28, 2017 12:56 pm
Forum: Investing - Help with Personal Investments
Topic: Early-retired 35 year old with $1 million
Replies: 198
Views: 21983

Re: Early-retired 35 year old with $1 million

Right now, your human capital is far larger than your investment capital. Retiring throws the human capital out the window and forces you to rely on the investment capital. Don't underestimate how difficult it can be to get back in the labor market. Congratulations on where you've gotten so far, bu...
by WanderingDoc
Sat Oct 28, 2017 12:41 pm
Forum: Investing - Help with Personal Investments
Topic: Start TSP disbursements and delay social security -- or the other way around?
Replies: 54
Views: 5352

Re: Start TSP disbursements and delay social security -- or the other way around?

This is a life expectancy question (if that's what you mean by complicated). Needs to based on your individual health circumstances not actuarial data. It is an awkward question but do you have any reason to believe either both of you has a moderate to high chance of passing away within the next 10...
by WanderingDoc
Fri Oct 27, 2017 11:44 pm
Forum: Investing - Help with Personal Investments
Topic: Index investing is boring
Replies: 63
Views: 6672

Re: Index investing is boring

In addition to index investing, I have some rental houses, seller financed notes, and some personal promissory notes. Every month I have to chase down the people who owe me money, while I look at my Vanguard account and don't do that much work. You could take all your money and invest in other thin...
by WanderingDoc
Fri Oct 27, 2017 3:18 pm
Forum: Investing - Help with Personal Investments
Topic: [Messed up?] - Roth IRA contribution over limit
Replies: 7
Views: 762

Re: Screwed up? - Roth IRA contribution over limit

if your plan is to move that small IRA balance to the TSP, I would go ahead and do that and get it off the table. It won't affect any Roth conversion activity if you aren't planning any for this year, but will give you one less account to worry about For purposes of the backdoor move to a Roth, the...
by WanderingDoc
Fri Oct 27, 2017 2:13 pm
Forum: Investing - Help with Personal Investments
Topic: [Messed up?] - Roth IRA contribution over limit
Replies: 7
Views: 762

Re: Screwed up? - Roth IRA contribution over limit

If you find that you have too much income to make the Roth contribution, you can "re characterize" it into a non deductible IRA. You could then at some point do a backdoor Roth conversion to get it back into the Roth. Sounds like you have a lot of moving pieces and you won't know your final answer ...
by WanderingDoc
Fri Oct 27, 2017 1:54 pm
Forum: Investing - Help with Personal Investments
Topic: [Messed up?] - Roth IRA contribution over limit
Replies: 7
Views: 762

Re: Screwed up? - Roth IRA contribution over limit

whatusername? wrote:
Fri Oct 27, 2017 1:40 pm
https://investor.vanguard.com/ira/excess-contribution

I'd read through this first.
Hi, I took a look at that thanks. It doesn't tell me what or if I should be taking actions or how.
by WanderingDoc
Fri Oct 27, 2017 1:18 pm
Forum: Investing - Help with Personal Investments
Topic: [Messed up?] - Roth IRA contribution over limit
Replies: 7
Views: 762

[Messed up?] - Roth IRA contribution over limit

Hello all, I am in need of some help. I have not been receiving bonus pay for the last 4 months. So my year to date entitled pay was hovering somewhere near the $70-80K mark. I contributed to a Roth IRA last month based on my perusal of this forum, concluding it was a good idea from a long term inve...
by WanderingDoc
Fri Oct 27, 2017 3:49 am
Forum: Investing - Theory, News & General
Topic: Stocks go up, bonds fall. Stock fall, bonds also fall.
Replies: 51
Views: 6350

Re: Stocks go up, bonds fall. Stock fall, bonds also fall.

No bonds here. Deferred annuities and rentals are my substitute to bonds. Additional elasticity from Discretionary trading account. YMMV :sharebeer Interesting. This has me thinking. My rentals already cover my basing monthly expenses AND I have a pretty ironclad source of work. Any reason at all t...
by WanderingDoc
Thu Oct 26, 2017 11:18 pm
Forum: Investing - Theory, News & General
Topic: Stocks go up, bonds fall. Stock fall, bonds also fall.
Replies: 51
Views: 6350

Re: Stocks go up, bonds fall. Stock fall, bonds also fall.

No bonds here. Deferred annuities and rentals are my substitute to bonds. Additional elasticity from Discretionary trading account. YMMV :sharebeer Interesting. This has me thinking. My rentals already cover my basing monthly expenses AND I have a pretty ironclad source of work. Any reason at all t...
by WanderingDoc
Thu Oct 26, 2017 9:18 pm
Forum: Investing - Help with Personal Investments
Topic: Is it ok to have 100% stocks, 15 years+
Replies: 97
Views: 10511

Re: Is it ok to have 100% stocks, 15 years+

I don't believe that is the case. We get it, you like real estate. But equities HAVE been the most rewarding major asset class over the very long term. That is not a false statement. Yes, it's an aggregate number and some RE investors have done much better than average, but then, so have some stock...
by WanderingDoc
Thu Oct 26, 2017 2:14 pm
Forum: Investing - Theory, News & General
Topic: The case against leverage...
Replies: 14
Views: 2018

Re: The case against leverage...

A friend talked about leveraging a 11 million dollar property by paying 3 million with his friends and borrowing the rest. He would make about 600k after interest and other expenses per year. So returns are 20% per year. The higher returns are because of higher leverage and he states he would never...
by WanderingDoc
Thu Oct 26, 2017 12:34 pm
Forum: Investing - Help with Personal Investments
Topic: Is it ok to have 100% stocks, 15 years+
Replies: 97
Views: 10511

Re: Is it ok to have 100% stocks, 15 years+

I find it funny how index investors compare only capital appreciation and leave out the 4 other ways real estate pays the investor. I don't believe that is the case. We get it, you like real estate. But equities HAVE been the most rewarding major asset class over the very long term. That is not a f...
by WanderingDoc
Thu Oct 26, 2017 10:08 am
Forum: Investing - Help with Personal Investments
Topic: Is it ok to have 100% stocks, 15 years+
Replies: 97
Views: 10511

Re: Is it ok to have 100% stocks, 15 years+

I find it funny how index investors compare only capital appreciation and leave out the 4 other ways real estate pays the investor. I don't believe that is the case. We get it, you like real estate. But equities HAVE been the most rewarding major asset class over the very long term. That is not a f...
by WanderingDoc
Wed Oct 25, 2017 6:17 pm
Forum: Investing - Help with Personal Investments
Topic: Is it ok to have 100% stocks, 15 years+
Replies: 97
Views: 10511

Re: Is it ok to have 100% stocks, 15 years+

My advice to youngsters who are still dreaming of getting "wealthy" but are unwilling to take major risks, like leaving a promising career to strike out as a SBO: The stock market has been demonstrated on numerous occasions that it is the highest rewarding asset class , the longer the history you l...
by WanderingDoc
Mon Oct 23, 2017 10:19 pm
Forum: Investing - Theory, News & General
Topic: Building very high net worth
Replies: 81
Views: 10085

Re: Building very high net worth

This is a very flawed way to determine what differentiates those with high net worth from those without. Most people who start businesses do not end up with high net worth, many end up with nothing - to give this as blanket advise to people is not wise. And if 8 figures is your target, there are ma...
by WanderingDoc
Mon Oct 23, 2017 10:10 pm
Forum: Investing - Theory, News & General
Topic: Building very high net worth
Replies: 81
Views: 10085

Re: Building very high net worth

When it comes to career advice, I would agree with Warren Buffett. Choose as a career what you would do if you didn't need a job. Success more often than not comes from being passionate about what you do, rather than being passionate about becoming rich. For us in the medical field, I would agree. ...
by WanderingDoc
Mon Oct 23, 2017 10:06 pm
Forum: Investing - Theory, News & General
Topic: Building very high net worth
Replies: 81
Views: 10085

Re: Building very high net worth

David Jay wrote:
Mon Oct 23, 2017 3:49 pm
This is an observation in "The Millionaire Next Door".

That person is most commonly a small business owner.
No. The OP was talking about a NW of $12M+. I believe the research criteria as defined and used in "The Millionaire Next Door" was those with a NW of $1-5M.
by WanderingDoc
Mon Oct 23, 2017 2:35 pm
Forum: Investing - Theory, News & General
Topic: Long term viability of Real Estate as an asset class
Replies: 38
Views: 3978

Re: Long term viability of Real Estate as an asset class

All of that would equally apply to stocks and businesses: :oops: Duh. That is my point exactly. REITs / mutual funds (stocks) = paper. Very little control, no cash flow, high non-zero taxes. Why is "no control" the defining characteristic of whether you're investing in "business" or not? The implic...
by WanderingDoc
Mon Oct 23, 2017 12:00 pm
Forum: Investing - Theory, News & General
Topic: Long term viability of Real Estate as an asset class
Replies: 38
Views: 3978

Re: Long term viability of Real Estate as an asset class

REITs are not 'investing in real estate'. You have zero control over your investment (just like with stocks or mutual funds). Good real eatate investors make money in a up, down, and sideways market, using both passive and active approaches in real estate. REITs are investing in paper, not real est...
by WanderingDoc
Mon Oct 23, 2017 11:26 am
Forum: Investing - Theory, News & General
Topic: Long term viability of Real Estate as an asset class
Replies: 38
Views: 3978

Re: Long term viability of Real Estate as an asset class

REITs are not 'investing in real estate'. You have zero control over your investment (just like with stocks or mutual funds). Good real eatate investors make money in a up, down, and sideways market, using both passive and active approaches in real estate. REITs are investing in paper, not real est...
by WanderingDoc
Mon Oct 23, 2017 11:08 am
Forum: Investing - Theory, News & General
Topic: Long term viability of Real Estate as an asset class
Replies: 38
Views: 3978

Re: Long term viability of Real Estate as an asset class

I understand Vanguard Total Market has Real Estate inbuilt in it. This question is for those who own Real Estate as a separate weighting in their portfolio. I currently have 6% weight to real estate (3%VNQ and 3% VNQI). I want to increase this to 10 % (5% VNQ and 5% VNQI). I am not worried about sh...
by WanderingDoc
Sun Oct 22, 2017 11:44 am
Forum: Investing - Theory, News & General
Topic: Long term viability of Real Estate as an asset class
Replies: 38
Views: 3978

Re: Long term viability of Real Estate as an asset class

I understand Vanguard Total Market has Real Estate inbuilt in it. This question is for those who own Real Estate as a separate weighting in their portfolio. I currently have 6% weight to real estate (3%VNQ and 3% VNQI). I want to increase this to 10 % (5% VNQ and 5% VNQI). I am not worried about sh...
by WanderingDoc
Thu Oct 19, 2017 4:09 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe:Better To Face The Correction
Replies: 51
Views: 7571

Re: Larry Swedroe:Better To Face The Correction

Yeah, like he said. Can't take it with me when I go anyway. Leave it invested. That's how I see it myself. Can't do any better or any worst than the markets allow for. Take the positive long term slope, and live within your means. "Can't take it with me when I go..." is not an argument for staying ...
by WanderingDoc
Wed Oct 18, 2017 10:14 pm
Forum: Investing - Help with Personal Investments
Topic: Deciding between Roth TSP and Trad TSP
Replies: 26
Views: 2095

Re: Deciding between Roth TSP and Trad TSP

There was more to debate than I thought. The replies lean towards at least a partial traditional investment. The pension is certainly not a guarantee. Because it was a possibility I was planning around it. In hindsight, I was giving it to much value considering it is twenty-five years off. It proba...
by WanderingDoc
Wed Oct 18, 2017 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Is a doctor's practice one of the safest and most profitable businesses?
Replies: 58
Views: 4835

Re: Is a doctor's practice one of the safest and most profitable businesses?

Physicians have the potential to make a very significant income with the right practice and in the right location. Yes it can be very profitable but the time commitment and overhead costs are extremely high. And yes, a physician will likely always be needed and therefor the profession is very safe ...
by WanderingDoc
Wed Oct 18, 2017 3:17 pm
Forum: Investing - Theory, News & General
Topic: Odds against Renaissance Medallion Fund if Efficient Markets Hypothesis is valid?
Replies: 18
Views: 1871

Re: Odds against Renaissance Medallion Fund if Efficient Markets Hypothesis is valid?

To even begin to answer that, you would need to know how many funds have come into existence in the last thirty years. You having a run of 10 heads in a row when flipping a coin 100 times is unlikely. If a million people fill a coin 100 times, it is very likely that at least one will have a run of ...
by WanderingDoc
Wed Oct 18, 2017 1:45 pm
Forum: Investing - Theory, News & General
Topic: Odds against Renaissance Medallion Fund if Efficient Markets Hypothesis is valid?
Replies: 18
Views: 1871

Re: Odds against Renaissance Medallion Fund if Efficient Markets Hypothesis is valid?

To even begin to answer that, you would need to know how many funds have come into existence in the last thirty years. You having a run of 10 heads in a row when flipping a coin 100 times is unlikely. If a million people fill a coin 100 times, it is very likely that at least one will have a run of ...
by WanderingDoc
Wed Oct 18, 2017 9:15 am
Forum: Investing - Theory, News & General
Topic: R/E Investing Approaches: Bogleheads vs MMM vs BiggerPockets?
Replies: 7
Views: 1317

Re: R/E Investing Approaches: Bogleheads vs MMM vs BiggerPockets?

What are the differences and similarities in Real Estate Investment approaches between MMM (MisterMoneyMoustache), Bigger Pockets, and Bogleheads? IMHO there seems to be a specific target audience between the forums though they do overlap. I do appreciate the Bogleheads for keeping the forum non-co...
by WanderingDoc
Mon Oct 16, 2017 7:14 pm
Forum: Investing - Help with Personal Investments
Topic: F.I.R.E. Portfolio help please
Replies: 7
Views: 2107

Re: F.I.R.E. Portfolio help please

Hi, Please take a look at my situation listed below and see if you would make any changes. Any help would be greatly appreciated! Thanks for sharing. A little about me. Age: Me 42, Wife 41, daughter 3 Emergency funds: Line of credit through our business Debt: $313,000 commercial building 3.75% $30,...
by WanderingDoc
Mon Oct 16, 2017 7:08 pm
Forum: Investing - Theory, News & General
Topic: Roth as good as you think?
Replies: 29
Views: 4112

Re: Roth as good as you think?

I doubt many 25 or 30 year olds can predict what their future tax bracket will be when they retire at ,say, 65. True, but some people have a hint: 1. If your are in the 39% tax bracket, go with tax deferred. 2. If you are making 8 bucks an hour (like my youngest), do a Roth. (Oh, and take the saver...
by WanderingDoc
Mon Oct 16, 2017 2:25 pm
Forum: Investing - Theory, News & General
Topic: The Stock Market Is "Fully Valued," Says Vanguard's Jack Bogle 10/7/17
Replies: 87
Views: 13733

Re: Bogle thinks markets are fully valued

Worse than infomercial, CNBC used to have a show " The Millionaire Inside ", I vividly remember in 2007 Barbara Corcoran (now famous for Shark Tank) being on the show bragging about having real estate leveraged to the hilt and spending on HELOCs and how it just keeps going up and up and everyone sh...
by WanderingDoc
Mon Oct 16, 2017 1:55 pm
Forum: Investing - Theory, News & General
Topic: The Stock Market Is "Fully Valued," Says Vanguard's Jack Bogle 10/7/17
Replies: 87
Views: 13733

Re: Bogle thinks markets are fully valued

... This is so 90's infomercial - I think I'll just make my fortune in Showtime Rotisserie Grills... Worse than infomercial, CNBC used to have a show " The Millionaire Inside ", I vividly remember in 2007 Barbara Corcoran (now famous for Shark Tank) being on the show bragging about having real esta...
by WanderingDoc
Mon Oct 16, 2017 2:59 am
Forum: Investing - Help with Personal Investments
Topic: 30,000 in Checking Account
Replies: 136
Views: 24201

Re: 30,000 in Checking Account

Make sure you're maxing your 401(k). May not be a good suggestion. If the OP's tax rate is low, contribute enough to get the match and put the rest in taxable. His income would have to be really low for that to be the case but I doubt that is true with 30k sitting around. My income is actually low,...
by WanderingDoc
Mon Oct 16, 2017 1:53 am
Forum: Investing - Theory, News & General
Topic: The Stock Market Is "Fully Valued," Says Vanguard's Jack Bogle 10/7/17
Replies: 87
Views: 13733

Re: Bogle thinks markets are fully valued

... This is so 90's infomercial - I think I'll just make my fortune in Showtime Rotisserie Grills... Worse than infomercial, CNBC used to have a show " The Millionaire Inside ", I vividly remember in 2007 Barbara Corcoran (now famous for Shark Tank) being on the show bragging about having real esta...
by WanderingDoc
Sun Oct 15, 2017 11:58 pm
Forum: Investing - Theory, News & General
Topic: The Stock Market Is "Fully Valued," Says Vanguard's Jack Bogle 10/7/17
Replies: 87
Views: 13733

Re: Bogle thinks markets are fully valued

I don't think it's market timing to take money out because you think you're over exposed in stocks and you want to be in a less risky position. To me, market timing involves selling because you think you'll be able to buy it back later for cheaper. I think there's a subtle yet distinct difference i...
by WanderingDoc
Sun Oct 15, 2017 11:50 pm
Forum: Investing - Theory, News & General
Topic: The Stock Market Is "Fully Valued," Says Vanguard's Jack Bogle 10/7/17
Replies: 87
Views: 13733

Re: Bogle thinks markets are fully valued

I don't think it's market timing to take money out because you think you're over exposed in stocks and you want to be in a less risky position. To me, market timing involves selling because you think you'll be able to buy it back later for cheaper. I think there's a subtle yet distinct difference i...
by WanderingDoc
Sat Oct 14, 2017 2:43 am
Forum: Investing - Theory, News & General
Topic: What's your asset allocation and why?
Replies: 176
Views: 20889

Re: What's your asset allocation and why?

Age 32. 79.29% Real estate equity 1.63% TSP 5.91% VTSAX 1.83% traditional and Roth IRA, both VFFVX 11.34% cash Took a while to crunch the numbers. I have always held $50-200K cash in a savings account (earning 0.1% APR) to be able to invest in real estate deals as they come along. I have only recent...
by WanderingDoc
Sat Oct 14, 2017 2:15 am
Forum: Investing - Theory, News & General
Topic: What's your asset allocation and why?
Replies: 176
Views: 20889

Re: What's your asset allocation and why?

Age 48 96% net equities (decreasing by 2% per year, started from 100% two years ago) 43% US stock (1/8 LG, 3/8 LV, 1/8 SG, 1/8 SV) 43% foreign stock (3/8 developed large, 1/4 developed small, 1/4 emerging large, 1/8 emerging small; would be equal if expenses were equal) 10% REITs (1/2 US, 1/2 forei...