I think that works if you have less than $1m. But if you have more wealth and are older, you need to diversify a bit more.

ok then buy a bond etf. its not difficult or complex. only if you talk to someone who makes money in mutual funds

this still doesn't account for tax planning. Like your bond allocations should be in an IRA/401(k), not in a taxable brokerage account.

Also, which bonds? What about international exposure?

What about tax loss harvesting?

what about mid-term savings (like buying a house)?

holding a position generates no taxable income unless you fuck up and buy an etf backed by section 1256 or something. make it sound complicated and sell products who cares