Get used to it: The years of generous, low-risk returns are over for bonds. Almost all investors still need to own bonds because they provide ballast for your portfolio. But to make much money, either you’ll have to take some risk or you’ll have to be content with puny returns—for many years to come. In my view, the best course is to split the difference: Put some of your fixed-income money in safe bond funds and the rest in riskier funds.
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