Investing for retirement can be a real gamble. You need to have some risk in your portfolio so you can get better performance out of your money. However, how much risk is too much? How much investment risk is too little? Unless you are some sort of financial guru in your own right, you are just following the advice of someone else. Then our own natural biases can get us into investment trouble. I was risk averse so had a portion of my money tied up in tax free muni bonds performance. Municipal bonds seemed like a better risk choice for me. Probably everyone should have some, but you have to figure out the ratios for your own diversity in your own portfolios.
Like I said, I am risk averse. I am investing young, so I should be able to get decent performance in the long haul. What got me antsy about investing in higher risk options is that it was not that many years ago people saw a lot of their retirement money just evaporate practically overnight. I heard of people who had to delay retirement just to get their money built up again. You do not want to start drawing checks on a reduced principal. You might run out of money before you die. A lot of people probably never think of outliving their retirement money but it happens.
I looked for options that had the greatest amount of return with low risk of loss. I could earn a higher percentage of return on my investments if I wanted to chance it more. I am just not like that. Some people are more okay with risking investment money. I am not. I even get nervous about a regular savings account. I cannot imagine investing in individual stocks. I would be up at nights worrying.