So I have some bonds that my grandpa left me when he died a while back. I sold most of them to pay for grad school, but still have some. I don't really know anything about them other than I get like $1,000 a year check which is cool and they seem to go up and down slightly over the quarters.
Anyhow, my parents are telling me that during major recessions it's likely a lot of these small municipals will file bankruptcy and then all your bonds become $0 and you lose everything, so they're telling me to sell my whole portfolio now before that happens. It's down a little (like $3,000 or something from when they were purchased) and they're paying out at like 3-5% and won't be able to put it into anything right now beyond like 1% online bank. So will lose some money if I dump it all now.
Just looking for second opinions since I know nothing about bonds. I'm super financially conservative and don't invest at all so don't know much about this stuff.
