Why I Still Hate Bonds (With a Few Minor Concessions)

Pre-order Tyler's book, Real Wealth, at ⁠⁠⁠⁠⁠⁠tylergardner.com/book⁠⁠⁠⁠⁠⁠ and be eligible for all monthly incentives between now and December 1st! And as always, a MASSIVE thank you to this week's sponsors: Thrive Market⁠ → Use link thrivemarket.com/tyler to get $30 off your first two orders. You cannot get this deal on the website — it's only through my link. And that right there covers your membership fee, so sign up now before this exclusive offer ends. Caldera + Lab⁠ → If you've been meaning to take better care of your skin, head to CalderaLab.com/TYLER and use code TYLER for 20% off your first order. Anthropic⁠ → ⁠⁠claude.ai/tyler ⁠to experience AI for minds that don't stop at good enough. Gelt → ⁠⁠joingelt.com/tyler⁠ because Q2 is where strategic businesses make game-changing tax moves. If you're a business or a high-net worth individual, you might want to check this one out today. And on to the show notes!! The “safe” part of a portfolio can still deliver a nasty surprise. Bonds have a job to do, but protecting against everything isn’t in the contract. In this episode, Tyler revisits his earlier argument against bonds with a sharper distinction between growth and ballast. He explores what fixed income actually protects, what it leaves exposed, and when certainty matters more than chasing a higher return. You’ll learn: How interest rates, inflation and opportunity cost challenge the idea that bonds are automatically safe. Why a bond fund is not a bond, and what duration reveals about potential price swings. The different jobs money markets, bond funds and TIPS can perform. When matching maturities to expenses and holding a retirement spending buffer make sense. Why pensions and other steady income belong in your whole financial picture. The useful question is safe from what? Judge each holding by the job it needs to do, rather than a reassuring label. If this episode helped, please consider leaving a review on Apple or Spotify.