[Bostonian]

"Bonds belong in tax advantaged accounts, then taxable."

That's true when say taxable bonds are yielding 8% and municipal bonds 6%. But when taxable bonds are yielding 2% (about the current 10-year U.S. Treasury yield), the tax hit from owning them in a taxable account is small, and maybe the growth assets such as stocks belong in a Roth IRA.

[devoutsalsa]

The taxes are small, just like the returns. I can’t really see bonds as a an indiviy investment in an era of low interest rates. And they only go down in value if interest rates start going up.