I have a five year ladder, mostly built of MYGAs, that covers 100% of annual spending should markets tank. Standard fixed instrument ladder.

Overall about 75/25 securities/cash(or equivalents). That includes the ladder, but the ladder isn't all the cash. Some of the investment accounts are in Schwab's money market accounts. I suppose I could poke at treasuries and search for something a little better but it is doing ok. Maybe that will be this week's project...

But I pushed more into cash, after being about 85/15 earlier this year, when it simply felt equities were too richly valued writ large. If we catch another 2020, 2008, or 2001 type smackdown, we'll put the cash (other than the ladder) to work buying things on sale. Last time I did that was March 16 2020, and that turned out beautifully - cruise lines and Disney, that time.

I would consider going 70/30 or more into cash, but it doesn't seem necessary today.