Episode 524: Celebrating Listener Retirements And Generosity, Fun With Claude, Jeremy Grantham Says Buy Gold And Long Bonds, And Portfolio Reviews As Of July 3, 2026

In this episode we answer emails from Joe, Ashley, and Chris.  First, we celebrate the early retirements and generosity of our listeners, spotlighting what retirement feels like when it is driven by joy and choice instead of fear. Then we answer a near-retirement question about bubble warnings, international investing, the proper way to use expert opinions, and how to build a risk parity style portfolio that can survive drawdowns and fund withdrawals.  With the help of Claude.

And we discuss our Top of the T-shirt Campaign (Part Deux!) for the Father McKenna Center.

And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.

Additional Links:

Father McKenna Center Donation Page (please mention Risk Parity Radio in the comment section with your donation):  Donate - Father McKenna Center

Yours Truly on Jesse Cramer's Podcast:  Are You Hoarding, Hustling, or Harvesting in Retirement? - E144

Video Summary Version:  The Harvesting Imperative: Structuring Retirement Around Well Being, Not Money

Slide Show Summary Version:  Jesse Cramer Presents The Three H's.pdf - Google Drive

Video Summary of RPR Episode 508:  RPR Episode 508 Illustrated: The Three H’s of Retirement

Jeremy Grantham on the Long-View (forward to minute 42 for his diversification recommendations):  Jeremy Grantham ‘Almost Everything Looks More Attractive Than the US Equity Market’ - YouTube

Michael Batnick (not Josh Brown!) Critique of CAPE Ratio-Based "Predictions":  Stocks Are More Expensive Than They Used to Be

Breathless Unedited AI-Bot Summary:

You can do everything “right” for decades and still blow up retirement by making one mistake at the wrong time: heading into the drawdown years with a stock-heavy portfolio and no ballast. We kick off with a listener note that hits the best part of financial independence, retiring at 45 with true optionality and a plan built around joy instead of restriction. That story opens a bigger question: what is money for once you’ve already proven you can save it?

We dig into the psychology of harvesting wealth and the practical realities of sequence of returns risk, especially in the five years before and after you stop working. We talk about spending that actually improves well being, including relationships, experiences, buying back your time, and giving, plus why so many high savers get stuck in hoarding or hustling modes. Along the way, we share updates on the Father McKenna Center and how listener generosity turns portfolio talk into real-world impact.

Then we tackle a timely investing worry: bubble warnings and Jeremy Grantham’s cautions around US equities and AI hype. We break down why opinion shopping is a dead end, why growth vs value diversification matters more than US vs international for drawdown safety, and how funds like long-term Treasuries, gold, and managed futures show up in resilient risk parity style portfolios such as the Golden Butterfly and Golden Ratio. We also cover TSP international limitations, plus our weekly portfolio reviews and July withdrawal amounts. If you found this useful, subscribe, share it with a friend who is near retirement, and leave a review so more DIY investors can find us.

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