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So if bonds are so terrible where do you put money if you don't want to be in stocks 100% since you are approaching or in retirement? I've never been much of a bond person, and I realize rates are low although I'm not in the group that expects significant interest rate hikes. I'd expect smaller hikes here and there.

In the past I would just have a larger cash position but obviously that pays near zero or possibly a couple of percent.

Just curious

It really depends on how long you expect to live, and what risks you wish to avoid.

Bonds are so terrible because their interest rates for "safe" bonds after taxes are less than the actual inflation rate (not the ridiculous government inflation rate that is deliberately set very low so as to keep the interest expense of TIPS and the COLA of Social Security down).

So if you fear the decrease in purchasing power due to the inflation of prices for those expenses you actually have, as contrasted to what the government uses as an inflation rate, the old solution would be to invest in the currencies of counties with very conservative money policies. The Swiss, from about 1950 to somewhere around 2000 (I am guessing these dates) met this requirement. They are not as reliable as they used to be. In fact, it is my opinion that no country has a good enough economic policy to make investing in their currencies a safe bet.

Some say to put your money in real-estate (especially productive farm-land especially if it is somehow defended against climate change), commodities, precious metals, (some even say foreign stocks)...

I have about 5% of my investable capital in physical precious metals. And a small amount in PHYS and PSLV. Some of the tinfoil hat crowd recommend having 10% to 30% of your money in precious metals, and some claim to have more than that of their own money in that. Who knows? They may even be telling the truth.

But I do not consider this kind of thing as an investment in that their purchasing power will not increase, nor does it pay dividends. Instead, I consider it insurance policy against the loss of purchasing power of the US dollar. The premium for this insurance policy is the true opportunity cost of having your money in it. But IMAO, it is not something to speculate with. It goes up and down as the black hats manipulate the prices of the precious metals, so you must out-wait them. Those who make money speculating in precious metals are the bullion banks and their governments. The retail speculators almost always lose their money.
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