You need an Investor Policy Statement if you are serious about your investing. In this article, I will lay out exactly what an IPS is, why you need one, and how mine looks like.
In the past my index portfolio consisted of both stock and bond ETFs. I used to follow the age – 10 rule for the bond part. So at 25, I would have 15% of my portfolio in bonds and 85% in stocks. However, I decided to remove bonds from my portfolio entirely. You can read my complete investor’s policy statement here.