In this final episode of our four-part series, Paul Merriman compares three powerful approaches for a lifetime of investing:

• 100% S&P 500: high-risk, high-reward growth.

• 60/40 mix of S&P 500 and bonds: a defensive balance.

• 100% U.S. Four-Fund strategy: large-cap blend, small-cap blend, large-cap value, small-cap value.

Paul uses 55 years of data (1970–2024) to show how these portfolios performed during both accumulation and retirement distributions. Paul highlights the following critical tables from the Bootcamp series.

Table B1 - Fine Tuning Table: S&P 500 Equity Portfolio

Table B4 - Fine Tuning Table: US 4-Fund Equity Portfolio
Table C4 - Fixed Contributions ($1,000/yr): US 4-Fund Equity Portfolio
Table D4.4 - Fixed Distributions (Conservative-$40,000/yr): US 4-Fund Equity Portfolio
Table H2 – Sound Investing Portfolios (100% Equity)
Table H2A – Sound Investing Portfolios (60/40)
Table D1.4 – Fixed Distributions ($40k + inflation)

Did diversification deliver higher returns without extra risk? Or was the classic S&P 500 enough?

Get the numbers, the tables, and the takeaways to help you decide.

Paul Merriman continues our series on radical lifetime investment strategies—comparing an all-equity S&P 500 portfolio to a balanced 60% equity/40% bonds portfolio.

After two episodes focused on the accumulation phase, this third installment shifts to retirement distributions:

• How much income could each portfolio provide?

• How did they hold up during major market crashes?

• What role did bonds play in protecting withdrawals during tough years?

Using 55 years of historical data (1970–2024) and key tables B1

H2

H2A

D1.4

Paul shows the real-world impact of these strategies when you’re living off your investments.

Listen now to see why adding bonds can be a lifesaver in retirement—even if you love the growth potential of stocks.

At FinCon, Chuck Gaffe- moneylifeshow.com sat down with Paul for a wide-ranging conversation about investing and financial independence.

Paul shared insights on the rise of index funds, the FIRE movement’s “one-fund-for-life” approach, and how small portfolio adjustments can boost long-term returns. He also discussed timeless investing principles like staying the course, understanding risk, keeping costs low, and diversifying wisely.

At FinCon, Paul reflected on everything from the rise of index funds to the FIRE movement’s “one-fund-for-life” strategy. His message was clear: while simple investing solutions can work, small, thoughtful adjustments—like adding different asset classes—can meaningfully improve long-term returns.

Paul also emphasized timeless investing principles:

Stay the course. Don’t bail when markets turn volatile.

Understand your risk. Know how much you can afford to lose before the storm comes.

Avoid unnecessary costs. A fraction of a percent in fees can add up to millions over a lifetime.

Diversify wisely. A broad mix of assets offers protection and opportunity across market cycles.

Whether discussing crypto, ETFs vs. mutual funds, or portfolio allocation strategies, Paul’s advice always comes back to one goal: helping investors achieve financial independence with confidence and peace of mind.

You can explore his free resources, podcasts, and articles at paulmerriman.com