Hey again Bill,
Sorry for the delay in replying.
However, I'm guessing this might not be real useful info...my thinking being, that my asset mix should be different for the funds we need to start grabbing from in about 5 years (the 457(b) accounts), compared to the 401(a) and 401(k) accounts. We don't anticipate drawing from those two accounts for at least 9 years, possibly longer.
If I recall correctly, some of the posters that are retired here stash a couple of years of living expenses in a MM, short term bond fund, or a stable value fund [much like the FID MGD INC PORT II you've got]. Much like the "bucket theory" put forth by many people, including Frank Armstrong
. Then they put the rest in a diversified mix of stock funds, bond funds, reits, etc.
So, since you'll be withdrawing from the 457b first, it then makes sense to put the 457 money into the stable value fund and bond fund [PIMCO TOT RETURN ADM]. So, I think a fairly easy way to see how much $$ to put into these two 457's is to see how much your going to need when you retire in 5.5 years. So, for example, if you'll need say $30,000/year [pre-tax], you can probably ballpark that you'll need this times the number of years from 50-54 [4 or 5] in the 457's [$120,000-150,000]. That make any sense??
Basically, I view the asset allocation decision as a three part decision tree:
1) Your need to take risk: How much return do you need to reach for?
2) Your willingness to take risk: How much volatility and downside risk can you stand?
2) Your ability to take risk: will you be able to keep the same standard of living if your portfolio swings a lot in value? - is very volatile.
Say you've got a pension that covers the majority of your expenses, and you only need to withdraw a small % of your portfolio, like 1-2%. You probably don't have much need to take risk because you don't need that high of a return on the portfolio to sustain your withdrawals. However, let's say that you can in fact stand your portfolio dropping upwards of 50% in one year, you may have a high willingness to take risk. Since you've got the large pension, you likely have the ability to take a lot of risk. But the question is still, should you? It really depends on the person.
My advice would be not to go to far in either direction - either a whole lot of stock, or a whole lot of bonds. Maybe 50/50 to start out with until you've done some self education. Or perhas even 60-70% in the stable value fund until you've got a good handle on 1,2, + 3 above.