I'm 60 and have been retired for about 15 years. I keep my portfolio simple, holding VTSAX, VBTLX, and the cash portion in VMFXX (with a small amount in I-bonds). I don't have a target AA so much as a broad acceptable allocation range. My equities allocation seems to vary between about 60 and 75, which is fine with me. I wouldn't be bothered if it went a little outside that range. Current AA is 69/28/3.
Presently, my annual draw is a little under 2.3%, so I feel that I can weather the volatility of a higher equity allocation. I have no plans yet on when to take SS, but the fact that it will be available soon makes for greater comfort with an AA weighted towards equities.
I live a simple life with few luxuries, but everything I need. A small rent-controlled studio apartment in a HCOL area, with very reasonable rent. I have a wonderful shower with very hot water and good pressure, a bicycle, and a cat who is a fantastic companion. Easy access via public transport to a multitude of places and events. Some days, I think about my life, and can't believe my luck.