I moved most of my portfolio into cash the last few years under Biden: Money Markets, CD’s, short term US Treasuries. Since Trump won I have been slowly moving some of it back into 2 mutual funds(tech/large cap) that have done well for me long term.
We are both retired (me 8 years, my wife 3 years) and have kept about 55% in equities. It’s been unnerving to ride the ups and downs, but it’s really paid off for us. My financial advisor and I frequently discuss when to trim equities, but the cash returns have been terrible.