Don joins Tom from a dairy farm in Elk, Washington to explore the history and structure of closed-end funds. They discuss a recent fund by Bill Ackman, highlighting high fees compared to ETFs. Listeners seek advice on simplifying their portfolios with recommended funds like AVUV, AVGE, and VT. Don and Tom suggest allocation strategies based on risk tolerance and financial goals, stressing the importance of comprehensive planning with varied income sources. The conversation shifts to retirement planning, emphasizing the need for long-term strategies considering life expectancy and financial dynamics for couples. Don addresses differences in retirement perceptions between genders. The episode wraps up with Tom’s corny cow-themed jokes.

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