Could move what you have into California Tax Free Muni Bonds and start a new series of cash flows into index mutual funds. If you have enough cash The American Funds has a pretty good Mutual Fund for this. Need to have cash to avoid the sales charge.
Over the long term cash has not proven to be a great investment. But it can help you sleep at night. Personally I feel that if I am getting 5 % but the market is yielding 15% I feel as though I am losing 10% no different than if my actual portfolio had dropped by the same amount.
