What are the steps to simplify your portfolio, given that it is likely spread across multiple accounts? We focus particularly on retirees, who have to weigh additional considerations like withdrawals, Roth conversions, and required minimum distributions.

We also explore which areas of the stock and bond markets are attractive right now as you seek to simplify and/or rebalance your portfolio.

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Show Notes and Related Content

A Complete Guide to Investing in I Bonds and TIPS (2026)

550: Asset Location: Where You Invest, Where You Live, What You Can Access

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We explore the expected size of AI-related debt, which vehicles hold it, what could go wrong, and how to protect yourself.

Topics covered include:

• How AI capex boom compares to other large booms and busts
• What fixed income vehicles hold AI-linked debt
• What mechanisms are being used to transfer AI-debt risk.
• How circular finance is contributing to the AI infrastructure buildout
• What could go wrong with the AI infrastructure buildout that could lead to losses on AI-related debt
• How to tell what exposure you have to AI debt

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Show Notes

AI debt slide deck used for episode

RBC Weighs $2 Billion Risk Transfer to Hedge Data Center-Linked Loans by Esteban Duarte and Paula Sambo—Bloomberg

Hyperscalers Tap External Financing as AI Capex Outruns Cash Flow—FactSet Insight

What History Tells Us About The AI Investment Boom by Larry Swedroe—Financial Advisor

Goldman Sachs Warns on AI’s Debt Tsunami — Is This the End of the AI Boom? by Rich Duprey—Yahoo! Finance

Progress and peril by Pablo Hernández de Cos—BIS

The Opportunities and Risks AI Presents for the Economy and Financial System by Governor Lisa D. Cook—The Federal Reserve

Financial Stability Report by The Board of Governors of the Federal Reserve System—The Federal Reserve

Financing the AI infrastructure boom: on- and off-balance sheet borrowing by Egemen Eren, Ingomar Krohn and Karamfil Todorov—BIS

How AI debt financing impacts duration supply and interest rates by Hugo De Vere, Srini Ramaswamy and Seth Searls—Federal Reserve Bank of Dallas

US Life Insurers Held $807 Billion of Hard-to-Sell Credit by Alexandre Rajbhandari—Bloomberg

Insurers are funding AI infrastructure – NAIC wants to know if the ratings hold up by Paul Lucas—Insurance Business

US Corporate Bonds Statistics—sifma

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How inflation numbers are manipulated to appear lower. How to change your mindset about inflation to get ahead of it.

Topics covered include:

• How Inflation (PCE) Calculations Are Changing
• Why the CPE Changes Are Suspicious
• The Biggest Changes Ever to Inflation Calculations
• What Causes Inflation
• AI Buildout Is Boosting Inflation
• How Rising Income Can Overcome Inflation
• Inflation Is Currency Debasement
• Most Things Get Cheaper and Better Over Time
• Personal Inflation Rate and Retirement
• We Can Beat Inflation by Improving Our Skills
• Inflation Manipulation vs Inflation Fabrication
• How to Outsmart Inflation

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Show Notes

Preview of the 2026 Annual Update of the National Economic Accounts—BEA

The Inflation Outlook by Governor Stephen I. Miran—U.S. Federal Reserve

Toward A More Accurate Measure Of The Cost Of Living by The Advisory Commission To Study The Consumer Price Index —SSA

A Complete Guide to Understanding and Protecting Against Inflation by David Stein—Money for the Rest of Us

Live Retirement Portfolio Cohort—Money for the Rest of Us

Related Episodes

475: Inflation’s Illusion: Debunking the Normalcy of Currency Debasement

429: Which Inflation Protection Strategies Worked and Which Didn’t? 

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David shares nine lessons a listener followed to become a millionaire.

Topics covered include:

• The benefit of underspending on housing
• What rate of return and how much would you need to save to grow a portfolio to one million dollars
• Why historical studies of the S&P 500 returns are misleading
• David's recent portfolio mistake

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Related Episodes

498: What I Learned Investing in the Past Decade

454: How To Invest – Ten Rules of Thumb for Individual Investors

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SpaceX, Anthropic, and OpenAI are all going public. Why now? And what will their weight be in index funds? What other U.S. ETF options are there if you don't want to have such a high concentration in stocks tied to AI. And finally, if you do buy SpaceX, what would need to happen to earn a reasonable return on your investment?

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Show Notes

Space Exploration Technologies Corp. Form S-1 Registration Statment Under the Securities Act of 1933—SEC

Elon Musk Is Dropping a Boulder in a Kiddie Pool by Matteo Wong—The Atlantic

Passive Aggressive: The Risks of Passive Investing Dominance by Chris Brightman and Campbell R. Harvey—SSRN

Passive Investing and Market Quality by Philipp Höfler, Christian Schlag, and Maik Schmeling—SSRN

Investments Mentioned

iShares Core S&P 500 ETF (IVV)

Tema S&P 500 Historical Weight ETF Strategy (DSPY)

Defiance Large Cap ex-Mag 7 (XMAG)

Invesco S&P 500 Equal Weight (RSP)

Invesco FTSE RAFI US 1000 (PRF)

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We explore the free dividend fallacy and how it applies to option income strategies. We break down the return drivers of covered call ETFs and examine the long-term performance record and volatility. Finally, we explain why it's better to own a single stock than a single-stock covered call ETF, such as MSTY, NVDY, or TSLY, offered by YieldMax.

Show Notes

The Dividend Disconnect - Samuel M. Hartzmark and David H. Solomon

Sam Hartzmark on Dividends - Meb Faber Research

The New American Hustle: Dividends Over Day Jobs - Denitsa Tsekova and Vildana Hajric - Bloomberg

Covered Calls Uncovered - Roni Israelov and Lars N. Nielsen - Financial Analysts Journal

Volatility Risk Premiums Embedded in Individual Equity Options: Some New Insights - Nikunj Kapadia and Gurdip singh Bakshi

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Investment Mentioned

Invesco S&P 500 BuyWrite ETF (PBP)

JPMorgan Equity Premium Income ETF (JEPI)

WisdomTree Equity Premium Income Fund (WTPI)

YieldMax TSLA Option Income Strategy ETF (TSLY)

Tesla (TSLA)

YieldMax NVDA Option Income Strategy ETF (NVDY)

NVIDIA (NVDA )

YieldMax MSTR Option Income Strategy ETF (MSTY)

Strategy (MSTR)

Related Episodes

471: Unlocking Income—A Comprehensive Guide to Investing in Covered Call ETFs

466: Does Dividend Investing Still Work?

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Why we have to navigate investing, business, and life with a compass rather than a GPS. David also provides an update on what he has learned from hosting live portfolio cohorts and letting AI analyze his portfolio trades over the past 12 years.

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Show Notes

Almost Reckless by Amy Smilovic—Penguin Random House

Related Episodes

555: Five Practices That Have Shaped My Career

127: Investing Is Wayfinding

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I share five business practices that have carried me through asset bubbles, financial crises, business pivots, and now the rise of AI.

Topics covered include:

• Recommended note-taking app and practices
• Recommended periodicals
• How to get better ideas
• Why we need to understand the probabilities when pursuing a new course
• The latest insights on AI, prediction markets, and other topics

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Show Notes

Researchers Asked LLMs for Strategic Advice. They Got “Trendslop” in Return. By Angelo Romasanta, Llewellyn D.W. Thomas and Natalia Levina—Harvard Business Review

Paul Kedrosky

Gregor Macdonald - Cold Eye Earth

Prediction Market Accuracy: Crowd Wisdom or Informed Minority? By Roberto Gomez Cram, Yunhan Guo, Theis Ingerslev Jensen, and Howard Kung

U.S. Soldier Charged With Using Classified Information To Profit From Prediction Market Bets—Office of Public Affairs, U.S. Department of Justice

64% of business books are profitable. That’s the bottom line from our study of Business Book ROI.—Josh Bernoff

Libsyn Statistics, visualized—Livewire Labs

The Big Bang: A.I. Has Created a Code Overload By Mike Isaac and Erin Griffith—The New York Times

High earners race ahead on AI as workplace divide widens By Madhumita Murgia and John Burn-Murdoch—Financial Times

Related Episodes

496: Are You Taking Enough Aspirational Risk?

535: Six Principles for Thriving Under Uncertainty and How Big Tech Is Doing the Opposite

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Please attend our live webinar on portfolio construction and rebalancing scheduled for Thursday, April 30th, at 12PM Eastern, 9AM Pacific time. I will cover the five steps to constructing and rebalancing a portfolio. I will also answer your questions.

You can sign up for this special webinar at https://moneyfortherestofus.com/webinar/

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Why portfolio construction is messy, personal, and never perfect. We compare the pros and cons of several portfolio strategies, including target-date funds, risk parity, and role-based portfolios. We conclude with three AI-related fallacies that will help us better navigate the current moment.

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Show Notes

Money for the Rest of Us Live Portfolio Cohorts

Why Everything Suddenly Is ‘Perfect’ by Paula Marantz Cohen—The Wall Street Journal

Your Perfect Portfolio by Cullen Roche—Pan MacMillan

My Core Investment Values by Peter Lazaroff—Peter Lazaroff

Show Us Your Portfolio: Jared Dillian—Excess Returns: An Investing Podcast

The dystopian fantasy of uselessness by Stephen Cane—The Financial Times

Investments Mentioned

State Street Bridgewater All Weather ETF (ALLW)

RPAR Risk Parity ETF (RPAR)

AQR Multi-Asset Fund (AQRIX)

Related Episodes

491: The Five Layers of Investing

306: Three Approaches to Asset Allocation

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