What is risk preference, or my investment mix?

Risk preference is your target mix: how much of the portfolio sits in equities versus fixed income (and optional alternatives). Conservative tilts toward bonds; aggressive tilts toward stocks. A higher equity share usually means more growth potential and wider year-to-year swings: not a forecast, just the usual pattern. The chart below is illustrative. Under it, average annual total returns from our backtest history (plus worst/best single-year returns in the window) show how equities, Treasuries, Munis, and investment-grade bonds have behaved: use the years-back slider to change the window.