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Thanks. I have been retired for 13 years (since age 60) though I stayed active in real estate investing until selling some pieces off the last few years. I will be active again when the cycle turns, I’ve done it since about 1980, started very small, worked my way up by reinvesting over time. Adding to my farm/ranch land is on my radar. That’s for enjoyment now and my heirs.

I agree with your general idea about the stock market and fixed income. I have been buying and rolling over short-term Treasuries since they started beating band interest rates plus T-Bond income is tax-free. My newer T-bill buys are paying over 4% annualized (3 month-6 months duration, I just keep rolling them when they mature.) I beat the banks plus pay no taxes, and there’s no risk of loss when you hold to maturity. That’s about 40% of my invested money outside real estate. (I have cash too, but don’t count that as invested money).

One suggestion you can research: Over half my stock positions are ‘preferred’ stocks. Their prices have dropped significantly as interest rates have climbed but they still pay their stated dividends. (Dividend income is taxed less than regular income). Their share prices are low now and will increase rapidly when rates turn the corner and go down again. I went through the same process in 2020 when they went down and shot back up again. Many of them are paying around 7-8% now. When T-bills peak and start down I will rotate out of them and into more preferred stocks, they are very interest rate sensitive.

I suggest reading on preferred stocks and how they work and their protections against loss which are better than common stocks. Good fortune with your investing!