Do I need bond funds?
Bond funds allocation is currently 20%, but maybe this needs to be tied to my living expenses rather than an arbitrary percentage?
Something like this: keeping ~3 yrs worth of expenses in treasury/muni bonds and put the rest all in equity. This reserve should gradually increase to ~10 yrs as I approach retirement and gradually drop back down to 5 yrs after retirement.
Age: 45
Goal: Potentially retire in 10 years
Income/Expense: 450k gross combined; spend 1/3 save 1/3
Portfolio: 4m, with 20% in bond funds, 5% in cash/treasury
Other: pension worth 60k in today's dollars collectible in 10 years