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Why do target date funds that are 30+ years away have any bonds in them?
Why do target date funds that are 30+ years away have any bonds in them? On average, stocks outperform bonds over the long-term. If that's the case, what is the purpose of someone who is decades away from retirement having any bonds in their retirement portfolio? I understand the need to reduce volatility as you approach retirement, but it seems like it just reduces the expected return without any benefit if it's dec...
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