Bonds & bond funds
Assets · ReturnFixed-income securities with medium risk. Regular interest payments (coupons) plus repayment at face value on maturity. Price risk when interest rates rise.
Typical positions:Long-dated government bonds (>5 years) · corporate bonds (investment grade) · bond ETFs · bond funds
Return (long-term planning value):~4% p.a. as a nominal planning value – plausible in the current interest-rate environment (2026), but historically fluctuating strongly between ~0% (zero-interest phase 2015–2022) and 6%. The long-term real return of investment-grade bonds is considerably lower (~1–2% real).