I agree with meaghanchan and sweeps. A small amount of bonds (10-20%) is not going to meaningfully reduce your long term return. Most advisors that I have read encourage everyone to have at least 10% bonds. There is a reason that they recommend this, because psychologically you are much more likely to stay the course with your investments if you portfolio is less volatile. Some people can stomach those roller coaster rides but I think most people need a little more stability, even at a very slight cost in return. When I started investing 10 years ago I went full tilt with 100% equities. Even though I am still far enough away that I really don't need any bonds in my portfolio, I now keep around 15% to reduce volatility (at 32 years old).
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