KevinW wrote: ↑Wed Mar 18, 2020 10:31 pm
I feel like someone should point out that if you keep each asset "pure of heart" at all times, you don't have to make these kinds of adjustments in the midst of market turmoil.
I advocate keeping cash in T-bills or T-bill money market funds at all times.
I've not yet become classic Permanent Portfolio so I'm not at the point to be "pure of heart". When I get there I will.
The initial goal was to have it all figured out and then be doing a rapid step-by-step implementation.
But I'm now seeing that I am slowly easing into it. And, I also realized today that I don't need to have it all figured out for what I should get done tomorrow -- collapsing my eight different retirement accounts into as few as possible - putting like tax treatment ones together - Roth, Traditional, and other.
That I had not done that caused major problems on Monday when I was trying to leave all my Prime and Federal money market funds and go to the Treasury money market fund.
First of all, I had to do it nine times (retirement account plus one non-retirement account) and because the each account had its own money market account my total cash is all split up among all those accounts and in several of them I could not meet the $50,000 minimum for Treasury and had to settle for Federal. Finally, in spite of checking all three times and documenting all twice I did not realize until today that the last exchange from Prime I put it into Federal when I should have been putting it in Treasury.
If I get to collapsing all my accounts tomorrow I may be able to correct that. But maybe not if funds are getting shifted between accounts.
There are many changes I need to be made and some of them need to be made in certain sequences. First one day and then the next day or a few days later.
Like I either shift this Federal to Treasury and then later collapse the accounts. Or, tomorrow I collapse all the accounts and then Friday shirt Federal to Treasury. I don't think it will work to do all the same day.
Vinny