Until late last year, my personal asset allocation was exactly the same as the Sleepy Portfolio even though I’m in my late 30s and a 25 percent allocation to fixed income might be considered on the low side. Last year, we bought a new house, which meant getting into a mortgage again. For me, it meant owning about 25 percent of the portfolio in bonds yielding less than 1.5 percent and paying 3.5 percent on the mortgage. It did not make much sense, so I sold the bonds and paid down the mortgage balance. Once the mortgage is paid off, I will go back to the 25 percent asset allocation to bonds.