In this interview with Jim Dahle, M.D., Paul covers about a wide range of investment topics, from getting started to retirement planning and distributions. This is an excellent introduction to Paul’s work, including buy-and-hold, market timing, bonds, Bogleheads, the work of the Merriman Financial Educational Foundation, DFA and portfolio management, Do-It-Yourselfers, and much more. While …

Paul’s favorite distribution strateg Each year Paul updates his favorite distribution strategy. In this discussion listeners will want to have copies of distribution tables 3 and 12. These tables reflect a 5% initial distribution plus annual increases for inflation. Tables 17 and 16 also start …

Paul discusses two reports from his annual “must read” list: SPIVA and DALBAR. The SPIVA report makes the strongest statistical case for index funds over actively-managed funds. The DALBAR “Quantitative Analysis of Investor Behavior 2018 Report” (no link, as investors have to buy the report) makes the case that the combination of active management by mutual funds and …

The decision to establish a fixed distribution strategy can help ensure your peace of mind in retirement. This strategy is designed for people who retire with “enough” to meet minimum cash flow needs, including future adjustments for inflation.  If you are new to our work, please read “The Ultimate Buy-and-Hold portfolio, 2018 edition” and the latest Fine Tuning Your Asset Allocations article. These …

Paul begins this podcast in response to tough critiques from some readers about this very popular article and podcast. He speaks to what he thinks are the most important lesson for investors. He also answers 4 Q&As from readers and listeners.: Will you create recommended portfolios for popular HSAs? What asset allocation do …

For over 20 years Paul has been producing articles and podcasts on 3 important decisions investors must make.  The first is The Ultimate Buy-and-Hold Strategy, a discussion of the equity asset classes that Paul recommends investors use in their portfolio.  The second is Fine Tuning Your Asset Allocation. The third, on

One young investor following Paul’s advice wrote to him: “Paul, thank you for everything you’ve done. The podcast, books and website have changed my life.” Paul asked him, “How so?” Thus begins this podcast sharing this young man’s response in the hope it will motivate other young investors to do the same. Q&A: What specific things …

In a recent podcast, Paul discussed a table of historical risk-and-return data for the S&P 500.  The purpose of that podcast and corresponding table was to give investors a way to build reasonable expectations of the short- and long-term losses, as well as short and long-term returns for the S&P 500.   In this podcast the same information is presented for …

In this podcast, Paul answers a variety of recent listener questions: • Is it time to sell and move more of my portfolio into money market or bond funds? •  Can I use your Best-In-Class glide path spread sheet to manage my Fidelity portfolio?  In answering, I reference a spreadsheet that shows our recommended asset allocation …

Most of our annual Fine Tuning articles and podcasts have covered all of the major asset classes. This year we dedicate an article and podcast to just the S&P 500 and bonds.  The S&P 500 Index represents the biggest public holding in the U.S. and maybe the world, roughly 80% of the value of all U.S. …

Does it ever make sense to use actively-managed funds?  One of our readers asked us to review a major 401k plan (40,000 employees) that offered only two equity asset classes (U.S and international) and in each case they offered an actively-managed and an index fund. I couldn’t pass up using this real-life example to learn some very important …

For many years Paul and Rich have updated the Ultimate Buy-and-Hold Portfolio, and have posted the updates for 2018.  This podcast is a step-by-step discussion of building a portfolio of 10 major equity asset classes. We want to make very clear how much impact each of these asset classes has on the long-term return of the portfolio, as well as …

Ken Roberts – of Ken’s Bulls & Bears on KCKQ AM 1180 in northern Nevada – recently interviewed Paul. In this 43 minute conversation they discuss target date funds, the pros and cons of stock selection, how young investors can get a head start, the four most important variables in your mutual funds performance, and the …

The Motif Investing and M1 Finance companies allow investors to create a customized portfolio of individual securities and ETFs.  Paul and Chris Pedersen compare these two low cost ways to create do-it-yourself robo portfolios.  In both cases there are great advantages and important limitations.  Chris recently compared the important differences in a table that …

In Paul’s recent Marketwatch article he explores the debate between the results of index funds and actively-managed funds.  If you review the comments following the article, you will see there are a lot of defenders of active management. In this podcast Paul responds to some of the most aggressive defenders of active management, including a comparison of …

Paul discusses the annual update of Callan’s colorful “Periodic Table of Investment Returns 1999-2017” and suggests you view the table while listening.  Paul also addresses the changes to his 401k recommendations from 50/50 U.S/international equities to 70/30 U.S./international, and small cap value from Guggenheim SmallCap 600 Pure Value (RZV) to SPDR Small Cap Value (SLYV); and …

Paul briefly discusses the recent MarketWatch article, “4 simple and effective ways to help a young person get a jump on retirement”  and continues with consideration of 2017 performance of the Vanguard, Fidelity, T Rowe Price, Schwab, TD Ameritrade mutual fund and ETF portofolios recommended at his site, including his favorite. He …

DON’T LISTEN TO THIS PODCAST if you don’t like numbers. Many unexpected things happened in 2017.  To understand them it’s important to look at the numbers.  This discussion includes a comparison of large cap, small cap, growth, value, U.S. and international asset class returns.  There is also a comparison of 1- and 15-year returns for Vanguard, DFA and …

This podcast presents plans for 12 major projects for 2018 by The Merriman Financial Education Foundation.  They include fund selection for self-directed 401k plans, new 401k plans, more studies on the long-term impact of saving to retirement, answering more of your questions, teaching more young people about sound investing and interviewing some of the industry’s most-qualified experts.  Paul …

What to do about bonds is probably the most common question I get from investors.  In some ways it is the simplest of investment decisions but it can be made difficult due to emotional hurdles.  In this podcast Paul reviews several past articles on bonds.  Here are the links to those articles:  “Why bonds are the most …

Small cap value continues to be an asset class that Paul recommends for all investors.  Of course, for retired investors it may be a very small part as their position in equities is low. For first-time investors following Paul and Chris’ target date fund recommendations, the super-charged asset class may take up the entire portfolio. Most investors will …

Following are Paul’s answers to some great investing questions. Sometimes he needs to ask a question before he can answer your question, so please include your phone number in your “Ask Paul” questions sent to [email protected]  Also, keep in mind that due to the number of emails received, Paul can only answer a portion of them, …

For more than 90% of working adults, the most important investment decision is how to invest their 401k, 457, 403b or IRA. Each of the 34 points in this podcast addresses a way that is likely to produce better returns. In this podcast Paul mentions several articles: How to Turn $3000 into $50 Million,

On November 18, 2017, Paul spoke to 170 investors.  Some were clients of Merriman Wealth Management and others followers of Paul’s online educational efforts.  The following 10 questions were left to answer in a special podcast. 1.  This bull market duration is unusually  long. Is it time to get more conservative? 2.  Is the next bear market imminent? …

Paul answers 12 questions from his readers and listeners concerning REITS, bonds, gold, investment risks, portfolio management, asset class allocation and emerging markets: 1.  Is it a good idea to own both U.S. and international REITs?  5:45 2.  Should REIT percentages change if we buy real estate? 8:55 3.  How much should we invest in bonds now? 10:40 4.  …

The AAII (American Association of Individual Investors) Conference was a treasure trove of investment history and advice for amateur investors.  In fact, Paul felt a lot of the information should be meaningful to professionals as well.  Paul was impressed with the presentations from Meb Faber, Larry Swedroe, Dr. Craig Israelsen and Mark Hulbert.  The one thing that all four experts agree on …

Chris Pedersen joins Paul to talk about their latest research on getting better returns from Target-Date portfolios. The discussion includes the pros and cons of Target-Date Funds (TDFs), how to make the best use of TDFs, recommendations for D-I-Y investors at Vanguard, and the easy solutions they created at Motif for those following Paul’s work. To enable investors interested in exploring and/or implementing this …

Target-Date Funds are the most important financial product since mutual funds were first offered in 1924. With pensions a thing of the past, target-date funds should be the investment of choice because they are the most likely path to financial independence for most investors. Unfortunately, many target-date funds lack the appropriate fire power to super charge their growth …

Warren Buffett says, “You only have to do a very few things right in your life, so long as you don’t do too many things wrong.” Yes, there are only a few things you have to do right… but the list of possible mistakes is long. Here are 20 common mistakes that can make a big hole …

Risk is not limited to the pain of a big bear market. Sometime a risk can be a mistake of omission rather than commission. Join Paul to learn about 15 real investment risks that need to be managed. Watch this podcast in video format

Even a couple of the 20 steps will give you more money to enjoy life in retirement and will increase what you leave to children and charities. Watch this podcast in video format

Risk is not limited to the pain of a big bear market. Sometime risk can be a mistake of omission rather than commission. Join Paul to learn about 15 real investment risks that need to be managed. Watch this podcast in video format

This piece was produced for my 2012 “Financial Fitness After 50” PBS contributors premium package. Investors are challenged by what forces are controllable and what forces are out of their control. At a minimum investors should make sure they take advantage of the forces that are under their control. In this video Paul discusses 10 guarantees every …

Paul compares the asset class returns of his recommendations with the average returns of the same asset class funds. An understanding of the last 9 months may or may not give you a peek into the future performance of these ETF selections. He also discusses holding emergency money in a money market account or just as part …

“When I see a title that addresses the value vs. growth issue, you’ve got my attention,” says Paul. “A new article by Dr. Craig L. Israelsen titled, This piece of evidence could derail the growth vs. value debate, opened my eyes to the huge differences similar indices earn over similar periods of time. From his findings, it …

Even just one idea from these 22, could greatly increase the money you will have for retirement. This recording is from the PBS Special Paul created in 2011, the information being evergreen. For more on Paul’s recommendations for 401k plans, at more than 100 major U.S. corporations and the U.S. Thrift Savings Plan, go to:

In this fun conversation between two old friends and colleagues, Tom Cock of Vestory.com and Paul discuss their 401k Project, John Bogel, and answers to listener/investor questions about newsletters, currency, IRAs, annuities and more. Tom and Paul produced a radio show together for more than a decade. You can also access Vestory’s free video courses on …

The Case for the Total Stock Market Index and more   Paul begins this podcast with a response to this article by Alex Bryan, director of Passive Strategies Research, North America at Morningstar. The position of both Alex and Morningstaris that a total U.S. stock market index is a core holding. They go on to claim anything …

In this conversation with Rob Berger of Doughroller.net, Paul discusses how to handle a bear market. How can we stick to our investment plan when our portfolios drop by 20% or more, and how should you be investing now? Among topics covered:  My recent meeting with Vanguard founder John Bogle Should one diversify beyond the S&P …

Paul addresses the 4 most common questions he receives from readers and listeners: Will indexing work as well in the future as in the past? Will small cap and value asset classes produce higher than S&P 500 returns in the future? How often should I rebalance? How do I best put my money into the market at these historically …

Paul speaks with Ken Roberts in this episode of “Ken’s Bulls and Bears,” as they answer listeners’ questions: 7:55- How important are the expenses I pay on my investment portfolio? 10:06- Is diversifying really that important? What about loading up on winning stocks like Facebook and Apple? 19:54- What can investors do to manage risk in …

In just 50-minutes, Paul covers 50 of the most important investment ideas, each of which should lead to better returns, less risk and greater peace of mind. This is the audio portion of a video you can see at Paul’s website. Be sure to click here  to access key supporting materials for this presentation. Warren …

Paul shares the latest research on how to combine value portfolios with other asset classes to produce low-risk portfolios appropriate for those saving toward retirement as well as those taking distributions in retirement.  Learn five important keys to selecting those value funds most likely to produce the best returns, including the names that Paul includes in …

This podcast covers three topics which are the source of many questions. Asset allocation starts with a recent interview from Vanguard titled, “Strategies for constructing globally diversified portfolios.”  In the other two topics, Paul addresses a number of popular alternative investments. He references a recent study on long-term returns for private equity funds (1984-2016) and …

Covering a lot of ground in this podcast, Paul discusses rebalancing your portfolio, an AARP article on “What to expect in your 70s and beyond,” the new Callan Periodic Tables for U.S. Equity Investment Returns, the Lipper Performance Report for the 25 Largest Funds, and an update on his recommended portfolios at Motif …

Paul answers 14 questions recently posed to his email account, [email protected]. Given the amount of email Paul receives, he again asks that you keep your questions short and general, as he cannot answer to personal situations. For hundreds more Q&A’s, please visit the archive at his website, under “Ask Paul”.  A very …

PLUS a new index study and 6-month and 15-year returns for DFA and Vanguard   Paul’s MarketWatch.com article, “Why picking stocks is only slightly better than playing the lottery” has such a provocative title that he was not surprised to get a lot of responses. Because the title was intended tongue-in-cheek, he was surprised how many …

Paul recently met for 90-minutes with Jack Bogle, founder of the Vanguard Family of Funds. Paul reflects on the main topics of the meeting, including what research Jack trusts, why he limits his recommendations to U.S. large cap companies, why the S&P 500 fund offering was almost cancelled, how much luck had to do with his success, …