personal finance

New TSP Lifecycle Fund Asset Allocations

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Here’s the PDF that shows you the new asset allocations for the 5 year TSP Lifecycle Funds:

L Funds PDF

Here’s the graphic that summarizes it:

Screen Shot 2020-07-06 at 12.32.43 PM

Finance Friday Articles

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Here are my favorites this week:

Free Beer Plus Profits! A Craft Brewery Investment Goes Full Circle

How Often Do Long-Term Bonds Beat Stocks?

Roth 401(k) vs. 401(k): Which is the Better Option?

The Best Side Gig Is Spending Less

 

Here are the rest of the articles:

3 keys to building an emergency fund

5 Ways Financial Freedom Beats Burnout

10 Reasons to Consider a Nonclinical Job to Defeat Burnout

Achieving Financial Freedom as a Physician is Simple, but Not Easy

Breaking the Traditional Financial Rules

Consumer Addiction and 5 Ways to Beat It

Consumption Smoothing is Stupid

Debt is Like a Negative Bond

How a Career Transition Can Help You Reach Financial Independence

Indexed Annuities – No Down Less Up

Investing legend Burton Malkiel on day-trading millennials, the end of the 60/40 portfolio and more

IRS Adds New Criteria for COVID-Related Loans, Withdrawals From Retirement Plans

IRS expands criteria to withdraw money from retirement plans for those affected by coronavirus

Is an Annuity Right for You?

Rebalancing Too Slow?

Report of Retirees Fleeing Market Due to Coronavirus Was Greatly Exaggerated

Right From Wrong

Should I Buy Stocks Now?

Should spouses get to contribute to troops’ retirement savings accounts? Debate set to begin.

States Without Income Tax: Is There a Benefit to Moving?

The Best and Worst Quarters in Stock Market History

The Economy is Not the Stock Market

The Key to Successful Investing? Your Mindset

The New 60/40 Portfolio

Vanguard Leaning More On ETFs

When It Comes to Social Security Retirement Benefits, Timing Matters

Why an S Corp Doesn’t Mix Well With a W-2 Job

Why is Gold Valuable?

Financial Blogs I Recommend

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For those looking to get financial education online, here are the blogs and other online resources I’d recommend:

A Wealth of Common Sense – This is a blog written by one of the Animal Spirits podcasters I recommended you listen to. He provides excellent contemporary analysis of the financial markets.

Humble Dollar – Jonathan Clements was a personal finance writer at The Wall Street Journal for 20 years and is a well-respected source for financial advice. He has a number of books and a blog called Humble Dollar that includes a free comprehensive money guide that is a continuously updated guide to all aspects of personal finance.

Mr. Money Mustache – There is an entire early retirement culture on line, of which many physicians are unaware. If you have an interest in early retirement, you’ll love this website and the story of Pete (Mr. Money Mustache), a software engineer who retired in his thirties. It is filled with investing information, as well as practical advice on how to save money in everyday life. The site has an anti-consumerism, pro-Earth bent and Mr. Money Mustache is a strong proponent of using a bicycle instead of driving a car, even in the dead of winter. He will show you that retiring early and controlling your spending doesn’t have to lead to unhappiness. In fact, he’ll probably convince you that the less you own the happier you’ll be.

Oblivious Investor  – This is a tax-focused investing blog by an accountant who also writes a series of very short, informative books on all finance topics.

Vanguard Blog – Regular readers know I’m a huge fan of Vanguard and do all of my non-military retirement investing there. You should too! Many know that Vanguard was founded by John Bogle, and those who follow his investing principles are self-named “Bogleheads.” They have a Bogleheads Wiki that you can read in addition to the Vanguard blog.

White Coat Investor Empire – Fellow Emergency Physician James Dahle, MD has created a digital and print media empire. You can’t go wrong if you make this your solitary source of financial information. There is a blog, internet forum, Facebook group, sub-Reddit, podcast, and book, so no matter how you prefer to ingest information you can find what you are looking for on this site. In addition, he has partnered with three other physician financial blogs, Physician on FIRE (which stands for Financial Independence, Retire Early), Passive Income M.D., and The Physician Philosopher. All three of these are excellent sources as well.

Debt, College, and Discretionary Spending

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Here are the slides I used to record this episode of the podcast:

Debt, College, and Discretionary Spending

 

Here’s the screencast:

More TSP Lifecycle Funds and Finance Friday Articles

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Starting July 1, 2020, you will have ten Lifecycle (L) Funds to choose from instead of the five currently available. They’re adding the additional L Funds so that the target dates will be separated by only five years instead of ten, allowing you to more precisely target the time when you think you’ll need your money. Six more L Funds will be added, and the L 2020 Fund, having reached its target date, will be rolled into the L Income Fund. See the fact sheet Additional Lifecycle (L) Funds for more information.

 

Here are my favorites this week:

A Thrift Savings Plan Update

My Real Estate Performance in the Coronavirus Era

The Six Big Money Items You Should Do as a Resident

The Three Sides of Risk

 

Here are the rest of the articles:

5 Personal Finance Truths for the Military

Averting My Gaze from the Stock Market

Divvying Up Dollars When You Have a Surplus

How to Optimize Your Money in Retirement

JP Morgan Guide to Retirement

Love Your Job? Why You Should Still Pursue Financial Independence

Massive Up and Down Moves in Stocks in the Same Year Are More Common Than You Think

The Road Back

The Story of Stocks and the Three Bears

Tips for Dealing With Your First Market Downturn

Vanguard and Fidelity investors didn’t flinch as the market tanked

Vanguard Total Stock Market Mutual Fund vs ETF: What’s the Real Difference?

What Percentage of Your Current Income Will You Need in Retirement?

Where the Private Real Estate Market Stands Six Weeks Into COVID-19

Financial Podcasts I Recommend

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For those looking to get some financial education through their earbuds or while driving, here are the podcasts I recommend and actively listen to as well as one I don’t listen to but you should consider.

Animal Spirits

Two investment advisors give an educational and entertaining summary of recent market/financial news 1-2 times per week.

Bogleheads on Investing

Many know that Vanguard was founded by John Bogle, and those who follow his investing principles are self-named “Bogleheads.” This podcast will teach you those principles.

Down the Middle

Creative Planning is an investment advisory firm. Its President, Peter Mallouk, and Director of Financial Education, Jonathan Clements, who was a Wall Street financial columnist for 20 years, provide a monthly podcast series discussing recent market events, investment philosophy, and give monthly tips.

Financial Residency or Physician Finance Minute

Ryan Inman is a fee-only financial advisor who happens to be married to a GS physician at NMCSD. Financial Residency is the podcast that I recommend but don’t personally listen to because I find it to be too basic. That said, if you are a beginner to intermediate when it comes to personal finance, I think this is a podcast that you should strongly consider to build your financial knowledge base. For those with a short attention span, he also offers the Physician Finance Minute, which is literally 1-2 minutes of financial learning each day.

Money for the Rest of Us

This podcast is hosted by a former investment manager. He does an excellent job of reviewing personal finance and economics topics in shows that are usually about 30 minutes in length.

Money Meets Medicine

Jimmy Turner, a practicing Anesthesiologist, and co-host Ryan Inman, the host of the Financial Residency Podcast above, teach you all of the personal finance topics you wish you had learned in medical school.

Passive Income MD

Peter Kim is also a practicing Anesthesiologist and entrepreneur who focuses this podcast on ways that physicians can create diverse streams of passive income.

The Long View

This podcast from Morningstar is hosted by Christine Benz and Jeff Ptak as they talk to influential leaders in investing, advice, and personal finance about a wide-range of topics, such as asset allocation and balancing risk and return.

WashingtonWise Investor

Our finances, portfolios, and the markets are affected daily by the policies and politics coming out of Washington. In each episode of WashingtonWise Investor, host Mike Townsend, Charles Schwab’s Vice President for Legislative and Regulatory Affairs, focuses a non-partisan eye on the stories that matter most to investors, and his guests offer actionable suggestions for what to do—and what not to do—with your portfolio.

White Coat Investor

Fellow Emergency Physician James Dahle, MD has created a digital and print media empire. You can’t go wrong if you make this your solitary source of financial information. There is a blog, internet forum, podcast, and book, so no matter how you prefer to ingest information you can find what you are looking for on his site.