, Charles. Great summary. I am a big fan of MGs work I’ve a  about the Vanguard TDF rebalance that may be starting shortly. MG showed,in 2015, the rebalance had a sig. affect on the $SPX. IIRC MG stated that Vanguard rebalances every 5yrs. My pertains to TDF glidepaths: folded hands medium skin tone red question mark red question mark