<prompt> Human: I was planning on investing in the Vanguard Target Retirement Fund 2065, but my friend advised me against it and told me to put all of my money into treasuries and high grade corporate bonds instead since they have a solid yield with little to no risk. That way, when the equity market tanks, the price of bonds will go up and then I can just sell the ones I have and buy more stocks since their prices will go down. That logic makes sense to me and my friend works in investment banking at a big bank on Wall Street, so he should know what hes talking about. However, i just wanted to consult Reddit on whether or not this is good advice. I dont know too much about investing and would rather throw it all in a target fund and not manage it, but I also dont want to lose most of my portfolio if the market tanks. Any advice is much appreciated!  <response>: Your friend has no idea when the next recession will happen. If he did then he would be a multi billionaire 