How Do Allocate the Bond Portion of Your Portfolio?

Our portfolio leans somewhat towards the conservative side.  Our overall target allocation is 45% equities, 45% bonds, and 10% cash.

When it comes to the allocation within bonds I have not seen much in the way of literature that recommends an allocation regarding types of bonds/durations.

Our current allocation in specific funds as a percentage of our entire portfolio is: 15% short term, 8.5% short term tips, and 16.5% intermediate (the rest of the bonds are in a target date fund).

I’m sort of aiming towards one third of bond portion of our portfolio being 1/3 each short term, short term tips, and intermediate.

My allocation is not based on any research, It just seems good to have more than 1/2 in short term to shorten my overall bond duration and thus exposure to rising interest rates. Having a portion in tips also decreases my risk to rising inflation, while the intermediate portion allows for some excess gains when interest rates decrease.

Is my thought process well thought out? Crazy?

Any insight would be appreciated.

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