Sure, there are different asset classes that might be OK, but if you look across the landscape, bonds are still quite nice to have.
Bonds are just converting today's money to future cashflow.
TIPS are inflation adjusted bonds, so you can get a real return > 0% with bonds, guaranteed by the US govt. For baseline retirement expenses, it's hard to beat. Right now they are up over 3%/yr real. You can't buy inflation adjusted annuities anymore, basically Social Security is it.
If one has 50X expenses invested, it doesn't really matter what they do, they would be hard pressed to screw it up so badly as to run out.
If one only has 20X yearly expenses invested, they need to be a lot more careful, as they might not make it, especially if they get a bad sequence of returns.
It all depends on your personal financial situation, it's hard to make general rules that can apply to everyone. It's called personal finance for a reason.
Bonds are just a great default tool, but like all tools, they are not perfect.
Bonds are just converting today's money to future cashflow.
TIPS are inflation adjusted bonds, so you can get a real return > 0% with bonds, guaranteed by the US govt. For baseline retirement expenses, it's hard to beat. Right now they are up over 3%/yr real. You can't buy inflation adjusted annuities anymore, basically Social Security is it.
If one has 50X expenses invested, it doesn't really matter what they do, they would be hard pressed to screw it up so badly as to run out.
If one only has 20X yearly expenses invested, they need to be a lot more careful, as they might not make it, especially if they get a bad sequence of returns.
It all depends on your personal financial situation, it's hard to make general rules that can apply to everyone. It's called personal finance for a reason.
Bonds are just a great default tool, but like all tools, they are not perfect.