+1 My Wellesley is in my IRA and throws off dividends that are used for RMDs. Since I have other investments in taxable accounts I haven't touched the Wellesley shares. My wife's grown children can have it when we are gone.^ This.
With the Fed poised to (maybe) start lowering rates in the not too distant future, I'm doing what I've done with my Wellesley over the past 20 years - holding.
I bought Wellesley last March for part of my 10-year spending ladder. CD's at the time were paying over 5%. Wellesley has paid over 8% the last 12 months. So far so good!