Not Bogle's Vanguard

Not Bogle's Vanguard

From Talking Real Money - Investing Talk by Don McDonald

June 8, 2026 · 34 min

About this episode

Don and Tom critique Vanguard's new investment products and question their relevance to real investor needs.

Don and Tom question whether the investment industry—and increasingly Vanguard—keeps creating new products simply to stay relevant rather than solve real investor problems. They critique Vanguard’s new Target Retirement Lifetime Income Fund, which combines a target-date fund with an annuity, arguing that it sacrifices liquidity, introduces inflation risk, and obscures costs. They also take aim at Vanguard’s new Active/Passive Model Portfolio Series, suggesting it adds unnecessary complexity a...

People in this episode

Host: Don McDonald

Topics covered

  • investment industry
  • Vanguard critique
  • target-date funds
  • annuities
  • investor problems

Keywords

  • Vanguard
  • Target Retirement Lifetime Income Fund
  • investment products
  • annuities
  • inflation risk
  • liquidity
  • Active/Passive Model Portfolio Series

Mentioned in this episode

Organizations: Vanguard

Products: Target Retirement Lifetime Income Fund, Active/Passive Model Portfolio Series

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