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.
Yeah I retired in 2022, and moved from from about a 70/30 equity/bonds portfolio to about an 80/20 cash/equity portfolio in 2024 (election years presidential & midterms have been where my mutual funds have had negative returns the most in the past). I have been buying back into my funds on market down days like last Friday, but still with some trepidation. I am at a 65/35 cash/equity split now, and will work towards a 50/50 split as Trump takes office in January. Still leery of a black swan event, and with Biden’s OK for Ukraine to strike deeper into Russia, who knows what will happen.