I've been reviewing my numbers A LOT lately due to the end of year final tallies, and I'm also nearing another big threshold. My personal investment policy has my objectives and asset allocations recorded by my age (for instance, in 2020, I plan to reduce my target allocations from Intl Stocks and increase US Bonds). And I have different asset allocations for 2025 and 2029. I chose these dates a few years ago thinking they would coincide with my age at certain milestones.
Now I'm thinking I might want to change my target allocations based on how much I have total invested? (and as I get closer to FIRE). Does this make sense or does it counteract the whole idea of rebalancing without respect to market performance?
What are your triggers for rebalancing and specifically for changing your future target allocations? Time? Age? Date? or value of account?