Most financial experts recommend at least some allocation to bonds, on the logic that only a select cohort of people have the risk tolerance and stamina to sustain full 100% exposure to equities.
But are bonds really for everybody? Especially in retirement?
For the Financial Success MD, as he explains in this Friday Feature, the answer is decidedly no — always has been, always will be.
\I started investing within a year of getting my first full time job, as a surgical intern. We each made our first investment in the stock market in January of 1989 when we opened our IRA accounts. I was 26 years old.
After I had worked as a resident for one year, June 1989, I qualified to participate in the hospital’s 457 deferred compensation retirement plan. I began to max out this retirement plan as well ($7,500 a year).
In 1993 I began life as an attending and was eligible to participate in our company 401(k) and profit sharing retirement plans. This was based on a percentage of my income which I maxed out every year.