00541 2x Leverage Will Not Go to Zero, but It Can Fall Until You Question Your Life: Without Rebalancing, No One Can Save You. November 22, 2025

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• Previous presentation: 00540 How People in Emerging Countries Can Use Nasdaq 100 to Escape the Exploitation Cycle and Change Their Fate by Becoming Owners of America. November 15, 2025
• Next presentation: 00542 The Key to a 2.5% Retirement Withdrawal Rate: QQQ Is Not Technology, It Is the Strongest Companies. Investing Is About the Logic of Long-Term Wealth, Not Sector Labels. November 29, 2025

Document Text

The market only rises over the long run

Clubhouse casual investing chat, CLEC YouTube, November 22, 2025, video number 00541.

Watch out for this Clubhouse scam.

This ID is a scam account. The person often changes IDs.

This is a scam. Please be careful. I will not contact you directly unless you ask me a question first.

Market volatility has nothing to do with me!

• Market volatility has nothing to do with me!

• The international situation has nothing to do with me!

• Market analysis has nothing to do with me!

• Market volatility has nothing to do with me!

• The economy has nothing to do with me!

• None of it has anything to do with me!

• Ignore market noise and volatility!

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The relationship between different asset allocations and withdrawal rates

• • This is primarily for those who have retired without income.
• • People close to retirement should do the same.
• • For friends who are more than 10 years away from retirement, a little bit higher, of course.
• • Different people with different asset allocations can use different asset allocations to draw the right proportion for their living needs, and all asset allocations decide on the annual draw rate before determining the cash ratio.
• • When you're in cash, Beta will be in a section, and you'll need a lot of people to beta lower.

• With 30% cash, the highest-beta allocation is 433: 40% QQQ or 00662, 30% QLD or 00670L, and 30% money market fund 00865B, SGOV, SWVXX, or BOXX. Beta is 1.0 and the withdrawal rate is up to 2%. The lowest-beta allocation is 70/30, also called 703: 70% QQQ or 00662 and 30% money market fund 00865B, SGOV, SWVXX, or BOXX. Beta is 0.7 and the withdrawal rate is up to 3%.

• :: 40 per cent of the allocation of cash, the highest beta, is 334 (30 per cent QQQ or 00662; 30 per cent QLD (00670L); 40 per cent of the currency market fund, 00865B (SGOV; SWVXX; BOXX) is 0.9 per cent, the highest is 3 per cent of the asset, the lowest is 6040 of the asset allocation or called (604 per cent) (60 per cent QQQ or 00662); 40 per cent of the currency market fund, 00865B (SGOV; SWVXX; BOXX) is 4 per cent of the asset allocation.

• :: 50 per cent cash asset allocation, with the highest beta being 325 (30 per cent QQQ or 00662; 20 per cent QLD (00670L); 50 per cent currency market fund, 00865B (SGOV; SWVXX; BOXX) beta 0.7, with the lowest being 5050 asset allocation or called (505) (50 per cent QQQ or 00662); 50 per cent currency market fund, 00865B (SGOV; SWVXX; BOXX) asset allocation is 5 per cent.

• • There is no income for retired persons, and the 15 years of cash is a secure cash level.

It is difficult to start with 15 years of cash, and it is not absolutely necessary.

• • The compromise is based on the previous asset allocation, and when the market rises, you can rebalance the cash to 15 years’ worth.
• • The drop in cash from the top of the market is not enough for more than 15 years, and the fall in the year should not be as balanced as possible. If the rise is not 15 years of cash, there is a risk that the fall in the year will be more balanced.
• • Only when there is more than 15 years of cash at the highest point is the decline in the balance. For example, with 18 years of spending at the top, three years of decline can be rebalanced.

• :: For long-term investing, staying alive matters more than returns.

• It's a steady practice to have 15 years of cash at the top of the market. All investment allocations are very personal, and it is important to have an in-depth understanding of the most appropriate asset allocation and strategy.

• "Exoneration statement."

• This section and the film are shared experiences, non-professional investments or tax advice, and self-determination and due diligence. Investment is risky and the market needs to be cautious.

CLEC has no discussion groups, and we have not authorized anyone to act on our behalf.

• We don't know any group of members and their purpose, and we're vulnerable to being infiltrated by people with a heart.

The investments we recommend are mainly the Nasdaq 100 index fund QQQ and the corresponding local ETFs issued in each country.

• Not all financial experts, including Charles Schwab financial consultant. They can assist in the opening of the account, but they do not recommend that the ETF or other financial items proposed by them be fully taken into account.

• In the long run, the Nasdaq 100 and S& funds are the best investments. Other individual stocks, funds, and financial products are usually less helpful for successful investing and should be avoided.

We recommend investing 100% in the Nasdaq 100 index fund

• In the United States: buy QQQ, or QQQM if capital is limited. Cash can go into Money Market SWVXX or short-term Treasury ETFs such as BIL, SGOV, and BOXX.

• Taiwan investors: consider Fubon NASDAQ 00662. For cash, consider CTBC U.S. Government 0-1 Year Bond ETF (00865B.TW).

• Chinese investors: It is proposed to invest 513100/5133/160213/159941/16130/159660.

• Hong Kong investors: consider HKD 3086, USD 9086, ETF 2834 (HKD) / 9834 (USD).

• Canadian investors: QQQ in US dollars, or QQC. TO/ETF (HXQ. TO).

• Australian investors: recommend NDQ purchases.

• UK investors: IShares VII Public Limited Company - iShares Nasdaq 100 UCITS ETF (CNDX.L) is recommended for US dollars; Europe recommends EQQQ, SP500.

• Brazil: The recently launched NASD 11 is the NASD11.

• Japanese investors: consider 2568 / 1545 / 2631.

• Malaysians and Singaporeans: QQQ can be bought through poems cash plus trading accounts.

• Korea: recommended QQQ ETFs include 368590.KS / 133690.KS / 367380.KS.

Since 2018, we have kept all videos on YouTube so everyone can study investing in chronological order

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Since 2018, we have kept all videos on YouTube so everyone can study investing in chronological order.

• The video reflects the market situation and the right investment decisions, but with time, some strategies may no longer be appropriate, and these are valuable learning resources.

• The viewers should be able to think about the content of the film in conjunction with the market and develop their own thinking and judgement skills.

• Some of our early investment proposals included certain shares and general funds, which were good investment options at the time, but the right ones also needed to consider individual risk tolerance and investment strategies.

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In addition to YouTube, please also follow our Facebook, Podcast, or Clubhouse channels. If one platform is restricted or shut down, you can still get the latest updates through other platforms.

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Investors stay extremely optimistic!

Investors always face the sun!

The market will eventually rise!

Investment needs patience!

Wealth is worth waiting for!

Subscribe, comment, like, and share. Remember to give Apple Podcast five stars so you can receive market updates.

The market keeps rising over time

Watch out for this Clubhouse scam.

This ID is a scam account. The person often changes IDs.

This is a scam. Please be careful. I will not contact you directly unless you ask me a question first.

It's more important to invest in money.

• Chinese investors, do not consider the issue of the premium, the price may be at stake for 100 years. You'll have to wait 100 years before you invest. You sell the premium when you buy it. It has nothing to do with it and the premium has no impact on our long-term investment.

• It's more important to invest in money.

The market is down 85%, but the risk is high, so the fund has to rebalance.

• If the build-up fund has increased by more than three times in the last few years, and the capital of the initial fund has been transferred to the cash sector, and if the balance has fallen by 10 years, 30 per cent of the principal of the fund has been transferred to the cash, then it will be bought down, and it will be bought for 15 years, even though two times the fund will not return to zero, but it will fall very low, and it will continue to buy more than 15 years of living expenses.

• If the market is high and the market continues to fall by 85%, even though the two-fold fund will not be zero, it is the first time you meet a taller person, and that's when the biggest risk to the fund is to know.

• So we can't overwhelm the foundation, not over the prototype fund, or over the cash!

• Starters watch the video, start with a fog, write down the problem, watch the film patiently, watch too many, and solve the problem in one shot!

The rate of return is not determined by asset allocation! It is determined by future market conditions!

• There is no better or worse asset allocation. It depends on future market conditions.

• Therefore, the allocation of assets should not be based on the idea or expectation that the asset allocation performance will be better decided, and should not be based on future performance and asset allocation.

• We don't know the future market, so it's impossible to know the future of any asset allocation!

• Each person has a different set of assets, enough cash and a certain amount of energy that he/she can bear, and achievement is definitely not the focus of the allocation.

[JEPQ, QQQI, JEPI, etc., are not suitable for replacing cash equivalents of currency market funds, and there is a risk that principal will fall by more than 20 per cent each year when the market falls. Other Organiser

• Young people's accumulation of capital should be based on long asset allocations such as QQQ, QLD and currency markets, rather than on high equity ETFs.

• If the U.S. taxers are retired and under-funded, they may take into account the three recently introduced U.S. high-value ETF dividends at the following interest rates:

• JPI wave rate 0.57, dividends rate 8%. Although official documents refer to “tax-efficacy”, they do not refer to the advantage of lower tax rates, but rather to a degree of tax efficiency in comparison to general choice funds or other high distribution strategies.

• The JPQ wave rate is 0.78, and the dividends rate is 10%. It is worth noting that most of the JPQ assignments will be paid for.

• The QQQI wave rate is between 0.9 and 1.1 and the dividends rate is 12%. The fund has emphasized "tax efficiency" and distributions are usually in the form of "capital returns", which may include options for premium, dividends, interest and capital gains, rather than mere dividends.

• These three funds can act as cash flows, but they cannot replace cash-equivalent currency market funds, which may fall by more than 20% a year when the market falls.

• Taiwan’s non-United States tax residents invest in high United States dividends, which may be subject to a withholding of one third.

About the system of withholding taxes and refunds from ETF, which was referred to in this week's bulletin as the permanent share of the United States.

• Ask the permanent employee and get some information from him to consult the teacher.

• Recently, I was studying the "Recognition of Tax Deduction and Tax Reimbursement Scheme for the Purchase of the U.S. E. T. F." and I was asked to share with you, and to make sure that I understood correctly.

I. It is IBKR.

• The issue of permanent certificates was clearly answered:

IBKR is the most numerous, most connected.

• It's important because:

• IBKR automatically handles 1042-S, classizes the source, and collects tax refunds in the following year.

• So, the way in which taxes are handled in practice is "like IBKR."

The next year, IBKR will recategorize according to the true nature of the ETF ration.

• Two, ETFs have different ration properties.

• The United States of America will first maintain 30% of the withholding, but it is only a "preliminary withholding."

The following year, IBKR will recategorize according to the true nature of the ETF ration:

• • Dividend may require taxes

• :: Interest (interest) is mostly not a United States tax source

• • Option Premium is hardly an American dividend
• • ELN / Notes
• • ROC of Capital

• This is why:

30%.

III. Summary of the core focus of the dialogue

• • QQQI, JEPI, JEPQ are all U.S. market goods, so the initial rate must be set at 30%.
• • But most of these commodities come from “derivatives, rights, debt gains”, not from the United States tax law, Dividend.
• • IBKR returns the excess amount withheld in the previous year in the first quarter of the following year.
• • As a result, actual taxes are usually low, sometimes close to 0 per cent.

• I'll be back in a few days.

Many netizens say "no tax refund", probably because their issuer is not IBKR, or because the issuer is not helping with tax refunds.

According to the tax refunds processed by Young-fung,

• 1. JEPI

• First withholding rate: 30 per cent

• Annual rate of tax reimbursement: about 0 per cent (no tax refund)

• Tax refund: No

• 2. JEPQ

• Annual rate of tax refund: approximately 80 per cent – 95 per cent

• Tax refund: yes (Y)

• 3. QQQI

• Annual rate of tax reimbursement: approximately 85 per cent – 95 per cent

• Tax refund: yes (Y)

• Additional note:

• These percentages are practical observation examples. The actual annual refund ratio may differ depending on IRS rules and ETF distribution composition.

But it can be seen from the version of Yuen Yuen.

• Five. One thing I learned from this observation.

• In the past, I thought "American share ETF ration was fixed at 30% and dead."

But as can be seen from the version of Eternity & IBKR:

• The tax is not taxed to the United States, it is taxed to the same degree, and the next year is due.

The final tax depends entirely on the source of the ration, not on the appearance of the commodity.

This is completely different from the concept of real estate loans!

• There is no limit to the age of the stock pledge.

• This is completely different from the concept of real estate loans!

• The house will always be worthless.

• The stock will be worth more, the collateral will be insufficient, the bank will be the most secure.

• As a result, the loan of shares is more resilient than real estate and has no age limit.

CLEC Investment Academy 00451 "2024": The first investment lesson, an investment life lecture worth NT$100 million, December 29, 2023, CLEC Investment Channel: https://youtu.be/4FMjmyBpTzw

The market rises every day. That is wonderful and joyful.

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