Jesus H. Tap Dancing Christ. I am 47. I have 37% of the portfolio in bonds. This year, assuming I live through my birthday, I turn 48. I will adjust to 38% of the portfolio in bonds. Lather, rinse, repeat.
Well...good luck and all that.
I happened to read this just last night:
10 "commandments" for the individual investor:
"8. Don't invest in bonds just because you've heard that bonds are conservative or for safety of either income or capital. Bond prices can fluctuate nearly as much as stock prices do, and bonds are a poor defense against the major risk of long-term investing - inflation."Winning the Loser's Game pp150, Charles D. Ellis.
What an idiot that Charlie Ellis guy is! ;-)
By the way, for you gold bugs, his #5 commandment:
"5. Don't do commodities. Dealing in commodities is really only price speculation. It's not investing because there's no economic productivity or value added."