Was going to do three fund portfolio with US / international / bonds index fund. Is this a good idea if I want to spend a significant amount in 5~8 years, probably for a down payment on a house? Not sure what other alternatives there are, I am pretty clueless about this stuff.
You can also buy US bonds for 2-3% guaranteed interest a year
With bonds it’s possible to suffer a loss on the principal. To minimize that risk, choose ultra short term or short term bond funds.
This is my plan, although I wasn't sure if this is the way to go for less than 10 years of holding planned.
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If we enter a global recession, for who knows how long, the drawdown might go to 50% (2008 case) or worse. Up to you to take the risk
You mean if the recession hits at an unfortunate time (around the time I need to sell for $$), it may look ugly right? I am not sure what my other options are besides bonds and savings account.