Dear Lokicious,Thanks for your reply. I have read a bit on the different theories e.g. "Random Walk down Wall Street" and others. I think I do understand the premises, etc. For me it all comes down to the fact that no one can predict the future and all the "hard" data we have is the past (i guess about 100 yrs now). Anything can happen. I am just trying to steward wisely the resources I have now and I am willing to take on a bit of risk - no guts, no glory. I do have 25 yrs to retirement ... but I don't want to be foolish either. Now back to the 5.25% FNMA bond- it is ~ $39,000 right now. It is in a non-retirement account (as it was a gift).My quandary for this money is that I don't need it right now - it is inheritance money that my husband and I want to hang on to for the future. The account looks approx like this:46% bonds (FNMA, Freddie, bond fund)47% stocks7 % cashFor my age I feel the 46% bonds is too much and as I said earlier I think I can do better than 5.25%. My stocks are mostly dividend companies, a couple small caps and index funds (I love Vanguard index funds.) I started my holdings in 1989 and have an avg annual return of 8%. I guess I feel that if I continue to learn and grow and be diligent, I can improve on that 8%. Since I am a stock advisor member I wanted to "hear" some other ideas besides TMF stuff. That is why I have been reading this board for the past couple of days. I have had these bonds for awhile and didn't take time to find out about them - it is hard to spit at steady income each month.I have enjoyed this board and will continue to hang around. There is a lot of good stuff here.Marjorie
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