Risk-adjusted, for these kinds of returns, your dad would probably be better off buying treasuries, which have some tax advantages.

Sure I've heard about dollar cost averaging and if you're in your twenties or thirties that might be a very viable way to invest in the stock market, but I'm in my later years and I'm not going to have the time to average a big-*** decline that's coming in the next year or two. many people just entering the market for the first time would be wisest to sit on the sidelines it's always at the peak of a market where the newbies get creamed.My treasuries have outperformed the s&p 500 in this past year and there's a lot of big investors like Warren Buffett are sitting on the sidelines with loads of cash.

Treasury notes?

Opportunity Zones were only just published, and the Dept. of Treasury/IRS is still working out the rules. 

The states aren't getting enough from the printing presses of the treasury (your taxes) to pay these unfunded liabilities, so they shift money around and increase taxes on your state income taxes and property taxes.

I like to think that when your return on equity drops below a 10 Year Treasury Bill, it might be a good idea to redeploy. 

I've turned to treasuries as buffers in the short term (ie - TLT), yet the market will always rebound (who knows if this is full on Bear or another manufactured correction), I wouldn't abandon the market completely.

Let's use the 10 year treasury yield as the risk free rate and assume the assume the risk premium is fixed for simplicity. 

This is actually more a gray area than it appears surface-level...IRC Sec 1402(a)(13) was codified in 1977, before LLCs were even on the Treasury's radar.  

Account Closed the article was written on Dec 5 and I believe the fed loosened their reigns on the number of rate bumps forecasted for 2019 after the 2 year and 5 year treasury inverted in mid Dec.I'd be interested to see the article rewritten or amended to account for the new guidance (I think they lowered from 4 bumps to only 2 for 2019).