Bogle told CNBC in January that investors should stay the course in this volatile market. While he said Wednesday that there are no guarantees in the stock market, he urged investors to not exit the market when it's down, noting that's "been [his] winning strategy."
After intense volatility in the past month, stocks were higher Wednesday aiming for a three-day winning streak. The Dow Jones industrial average, and the Nasdaq on Wednesday were on pace for the biggest three-day gain since August 2015's market turmoil.
In terms of asset allocations, Bogle advises that individuals have a 60 percent to 40 percent stock-to-bond ratio.
"If you're younger, a lot higher, if you're older ... somewhat lower," he told "Power Lunch."
U.S. Treasury yields were all higher Wednesday. The 10-year yield, which moves inversely to the bond's price, climbed to 1.8364 percent, after closing at 1.777 percent on Tuesday.
For risk averse investors who may not want to invest mostly in stocks, Boggle suggests that they look very, very long term.
"In the long term, stocks are going to do better than bonds, almost inevitably," he said Wednesday.
— CNBC's Jenny Cosgrave and Christopher Hayes contributed to this story.