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Summary: The standard advice is to shift equity to debt well before a goal. One investor has ignored it for two decades and asked if he got it wrong. The answer adds a condition the rule never stated, and it turns on a number most of us never check.
Summary: The standard advice is to shift equity to debt well before a goal. One investor has ignored it for two decades and asked if he got it wrong. The answer adds a condition the rule never stated, and it turns on a number most of us never check. Prakash has invested for about twenty years. He never moves money to debt as a goal comes close. He sells when he needs the money. At the end of the last Fund Advisor Live, he asked whether that is wrong. Minutes earlier, Ashutosh had told Sumeet to start moving equity to debt two and a half years before a goal. I said the same here on 26 September. Prakash has ignored that advice for twenty years. He is not wrong, and neither were we. The rule has a condition we did not state. Move money to debt before a
This article was originally published on October 26, 2026.
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