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Originally Posted by sgeeeee
I only have one portfolio. I know some people like to think about separate buckets or about their real investments vs their gambling money, etc.
I try to think about everything as one portfolio comprised of many investments with various risk-reward profiles. So the risks of one investment can be balanced with other investments that have different risks. 
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Me too. Years ago, I used to think of things as being divided into "buckets," "stashes," "special purpose funds," and so on and so forth. Sometimes I'd add it all up and look at the AA and find my total AA made no sense! It just got simpler to look at everything as one portfolio for purposes of AA.
For example, instead of having a separate emergency fund, I carry an adequate percentage of cash in my one portfolio to provide liquidity for emergency situations if they should arise.
As discussed on another thread, my current AA, at age 59 and about one year into ER is 65% equity, 30% fixed and 5% cash/cash equivalents.
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DW paddling the Kankakee River........
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