I retire Feb 1st; have things spread out (checking, savings, IRA, house, credit union, 401k) 401k is mostly bonds. Have pension & soc sec.
When the interest rates go up, those bonds will lose value, but the market is kinda too high to be buying in also.
When I retired, I put my 401k into a rollover IRA, that is self - directed.
In Dec. 2007, I liquidated about 80% and left it in the treasury fund. Reinvested it after the 2008 crash. I’ve pared that back down to around 25% right now, and have enough in the treasury fund for the next 5 years of min. distribution.