I'm 69, retired, and have had some 85% of my retirement money in MLPs for about 15 years. It's been a nice ride, and the income provided an upscale lifestyle. But, I recently and reluctantly cut it back to 50%. I've seen this playbook before. Stocks go down, good stocks, and people say they shouldn't be going doing down, it's technical, etc., and only years later does it emerge that there were good reasons those stocks were going down. It's difficult to connect the dots on a real time basis, particularly when some of the stocks have such great management, track records, etc.
I'm sitting in Paris now and the temperature is 100 degrees. Few have air conditioning, and people are freaking out. Tourism will be hurt badly. It's happening all over Europe, and to some degree other parts of the world. Read the headlines - pipelines cause unexpected spills, an airplane just went around the world on solar energy, etc., etc. The handwriting is on the wall. We can still have a great income opportunity during our lifetimes, but it may not be the best investment on behalf of our children. There may still be good times ahead, but the best of times are behind us. (Parenthetically, I acknowledge that 50% is not a small position.)