Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited.

What to sell when your financial needs change, stocks or bonds?
You have to understand what risk is and how much risk you want to take on, and weight your portfolio accordingly.  I think your 80/20 split based on wrong assumptions is the wrong way to look at it.  It sounds like your risk appetite has changed. Risk is deviation from expected, so risk is not bad, and you can have cases where everyone would prefer the riskier asset.   If you think the roulette table is too risky, instead of betting $1, stick 50c in your pocket and you changed the payoffs from $2 or 0 to 50c or $1.50 If your risk appetite has changed - change your risk exposure.  If not, then all you are saying is I bought the wrong stuff earlier, now I should get out.