What percentage of your total money did half of your non 401k/IRA money represent? Where was it before? Equities? What motivated the move? If it was a good move for that money, why wasn’t it a good move for some 401k money? Promise this isn’t some gotcha bullshit, just trying to get your thought process as I’ve gone through similar exercises recently but i extended it into the IRAs. Overall I’m sitting at like 40% equities (75% US, 25% int’l) and 60% bonds/funds/bills/CDs/mmarkets/cash/PM/BTC … I’ll convert more cash into bonds/bills as rates go up and I’ll hold them to maturity, but I’m also keeping plenty of dry powder to dollar cost into a falling equities market once the prices get reasonable. The odds of avoiding a major recession in ‘23 seem very low to me. If I’m wrong, I think the potential upside in the markets is modest, so the 4-5% “risk free” return makes it easier to be patient. I do wonder if the proliferation of passive investing will buoy the bottom of a stock market correction but either way I’m not fighting the fed as it raises rates.