Traditional balanced portfolio would have you weight your investments depending on your risk tolerance. You could, let's say, have 50% HBD and 50% at risk. This way, when the value of the risky component decreases, the loss is a small part of your overall holdings. Then, you would invest more to bring your risky part up to 50% again, to rebalance. If you have a great year with risky investments to where it outgrew your HBD savings, you would buy more HBD to rebalance.