Does it exist?  I am 100% in stocks and equity, need to get some fixed income in the mix... would love to stay around 4-5% to fight inflation... corporate bonds? preferred stock?  am I looking for a unicorn? bad time to get into fixed income?

please advise!

Take a look at O, Realty Income. Pays a monthly dividend at 4.07% annually, currently.

I have held this one off and on for several years and I like the monthly income. Currently I automatically reinvest (drip) my income from O, but I will someday use the income as cash flow to me for living expenses if needed.

I'd look at some REITs and maybe some Ibonds but otherwise avoid bonds.

As to your safe return 4% question.  Not a fucking chance.  

REZ is a good exchange traded REIT fund if you want an easy one and done.  

You might also want to consider a commodity fund in small amount.  They are high risk but can balance the risk of holding cash.

In terms of timing nobody knows when this market will take a huge dump but we do know it's been a long run. If you are in retirement zone or near I'd start shifting to some lower risk.  People focus on inflation and that's a real risk but so is deflation even though it seems like it's not now. Deflation would mean this is a bubble that never reflates. True its unlikely, but a lot of economists think that's our biggest risk.  Cash is the best hedge to this and also the most at risk to inflation.  

I think the best method of managing the risk right now is some stable inflation hedges, some volatile inflation hedges, some cash and stocks of varying risk profile. I would not make any huge bets on any one outcome.

Who would have thought a pandemic would lead to the highest stock market ever?

Might want to look at city/state municipal bonds.  IIRC They'll be tax free too....unless they change some rules that is.

have 10 years minimum to retirement, more like 15 if being realistic...

have 401K with 50% in retirement date based option and 50% in ETFs, a brokerage account all in ETFs, tracking technology and S&P, and employee stock fund that went to the moon and accounted to 15% of total portfolio - so I sold half of it and want to invest in some lower risk.  that amount would be around 7% of my current portfolio... so REIT even if everyone expects RE to drop at some point?

thanks for replies

I do own some O.

At the last info they sent out to shareholders 7% of the real estate they lease out is to AMC. That has me a tad nervous going forward.

I hear what you say, but with the cost to build new rising, and the economy likely firing up as people get back to work creating increased demand for most things, I think the risk is muted.

Still, a good point. O does have I think 28-years of consecutive dividend increases so I think they will be able to work out of problems if they arise.

I don't own o but if it's heavy in retail is fucked