Debt is the cushion that helps the portfolio to be stable even in the most volatile times. Equity is needed to grow but debt is needed so there is no panic. A portfolio, which has both debt and equity, is important. That is where the role of hybrid funds comes into play. Now, when the question arises about who should invest in what kind of funds, we have to be a little aware. Many experts believe if you want to supplement your family income then you should invest in debt funds as they are more safe with consistent and fixed returns and if you are going to get retired very soon or are already retired, then debt fund is a good option for you, as your risk appetite becomes less over the time.