I am 37 and have 25% ($47,000) of my 401K portfolio in bonds. I'd like to be more aggressive and am considering converting this amount to index funds, before gradually converting some of my portfolio back to bonds in the future (when I'm closer to 60). Is this a viable strategy? And if so, should I wait until the stock market falls in this special instance before converting to stocks? I have a long term approach and I have never tried to time to market, so I'm inclined to just convert most of the $47,000 now.
Edit: Thanks for weighing in, everyone. I switched to stocks and am comfortable with that decision.