While his why is great, I found McClung's treatment of exactly what to buy and how cursory. His example funds directed me to factor based investing, specifically this book:
https://www.amazon.com/Your-Complete-Gu ... 0692783652
McClung didn't go deeply on fees. A big problem I had, was finding access to factor based funds or ETFs. The dimensional funds he lists, are typically offered via financial advisors, charging significant asset management fees. This is 50-100 basis points, on top of the individual fund fees. When you are looking at SWR in the 3-4% range, that's a big chunk. It seems to eat the possible superior returns.
From what I read, the last decade of bull market returns has not been kind to financial advisors using McClung style portfolios. Protection from the bad returns comes at a limiting of the good returns. During a long bull market, people wonder why they are paying for underperformance (tracking error) and leave. I think this created pressure on Dimensional to offer ETFs to the public.
Launch of the Avantis factor ETFs applied additional pressure. Dimensional has responded by offering some ETFs to the public. From what I could tell, it's now possible to build a McClung style portfolio with reasonable fees.
After reading the factor based investing book above, and heavily assessing my own personal situation, I decided not to pursue it.
The gap from my starting point was just too high. I'd never even bought an ETF before. Simply implementing a tax efficient, low cost, 4 fund portfolio required me to learn a bunch. I screwed that up a little. Maybe more important - I could see the gamification of modern investment tools easily drawing me into rash decisions.
I struggled with the idea of buying an international REIT or specific emerging market fund. I have no idea what those really are - funds of what? It's not houses. I wasn't making time to resolve my ignorance, so such purchases felt like speculation.
It also looked to me like the premium associated with a specific factor decreases over time, as the broader investing community learns of it. I saw the book linked to above, as well as factor based funds being offered to the public, as symptoms of that erosion. I don't want to continually learn about new factors.
The final nail in the coffin, was wanting a strategy my wife could understand and follow herself. She has zero interest and limited aptitude for this stuff. McClung's portfolio was too complex.
We copied the vanguard 60/40 life strategy portfolio and adjusted SWR downwards to accommodate.