Originally Posted by
2StgTurbine
No it's not. Common wisdom assumes a 10 year business cycle. All of the 3 wealth management companies I have used all have an automatic 401k schedule that drastically reduces your exposure to the stock market the closer you get to retirement.
At 55+, you still need to make your money last 30+ years. The only way to do that is either
a) don't spend much or
b) invest in equities, in the neighborhood of 40%-50%.