When younger I don't see much of a need for fixed income but as you approach and enter retirement I can certainly see a need. Personally I favor treasuries, TIPs, CDs, and MYGAs over bond funds. For me bond funds are an unknown in an area where I expect a known output. If I buy a treasury I know what I will be getting at maturity. Obviously I won't know what effect inflation will have on its purchasing power but it is a known quantity. Same for CDs and MYGAs. TIPs are a bit more confusing and while I have some, I don't have a lot due to extra complexity and some will say, even before Trump, how the government calculates inflation.

A bond fund can go up or down depending on interest rates. If you needed money a few years ago your fund could have dropped 10-15%. I don't want that unknown from an investment I'm counting on for stability. That is what I expect from stocks or other investments like gold, real estate, etc.

Do people here actually invest a good amount in bond funds like Vanguard's BND ETF? Is it due to simplicity?

With how things are economically and world wide my investing is getting more defensive and having equal amounts of US/international stocks, adding gold and a large chunk of fixed income until things (or if) settle down to where I'm more confident of investing.

Thanks
Rich