<prompt> Human: I know that there is an infinite number of portfolio theories dictating how much money I should allocate to bonds. However, considering I have 40 years until retirement and several years before children and a house, should I wait on the Fed to raise interest rates?With interest rates at ridiculous lows, does it make sense for someone my age to own bonds? Should I wait for interest rates to rise over the next few years? If not, how much of my portfolio should I dedicate to bonds?  <response>: Two thoughts.First Ive seen some regression analysis charts I believe that show a 7030 mix of stocksbonds is pretty close to optimal. Bumping up to 9010 I think increased the return by maybe 0.1 but had a disproportionally large swing in volatility. So youre not really gaining much for taking the extra risk.A popular bit of investment advice Ive heard around is to own your age in bonds, or have a percentage of your portfolio invested in bonds equal to your age.That said if youre thinking of doing this as a market timing play, and holding off on bonds until the right time, thats a different issue. 