Amazing how many people hate bonds 8+ years into a bull market.
I think “cash in chips” implies something you don’t actually mean. There’s kind of a market timing flavor to that phrase. I think what you really mean is you’ve made your asset allocation less aggressive now that you have less need and ability to take market risk. Unless you’re planning on getting more aggressive again later with your portfolio. In which case you’re just timing the market.
Ken,
There are a lot of bond-haters commenting on this blog, but I’m not one of them. I actually just sold a ton of stock and bought bonds. Timing the market isn’t something I recommend, but it was time for me to cash in some chips after a long rise in the stock market. I have municipal bonds in a tax-free bond fund that seems to be performing well. I don’t have individual bonds, but am open to learning more about that option.