Resources
Primers, letters, and the occasional correction.
I publish when a question has come up three times, or when I have changed my mind. Insurance on one side. Retirement money, public markets, private funds, bonds, and options on the other.
Investing
Why does the mega backdoor Roth still matter when you already max the regular 401(k)?
Mega Roth Conversion
Read itAnthony Daoheuang · September 2026 · 3 min readInvestingThe J-curve, and why year three feels like a mistake
Fees come first and returns come later. That shape is structural, not a warning sign.
Anthony Daoheuang · March 2026 · 2 min readRead itInvestingWhat two-and-twenty costs over a fund's life
The management fee and the carry are charged on different things. Worked out in full.
Anthony Daoheuang · February 2026 · 2 min readRead itInvestingSequence risk, in plain language
The order of returns matters more than the average once withdrawals begin.
Anthony Daoheuang · January 2026 · 2 min readRead itInsuranceThe definition of disabled is the whole policy
Own-occupation, any-occupation, and the sentence that decides which one you bought.
Anthony Daoheuang · December 2025 · 2 min readRead it