I hope this Helps.. Ideally when deiciding about setting up a Pre-Retirement Port, using the 5 yr Rule comes to my mind as I was told and Followed..
Meaning? starting 3-5 yrs prior to the time you Plan to Reitre is the time to start setting up what your Post Retirement Port should be for you.
Ideally? And Assuming you have enough $ saved up by this time and/or you Will have to acheive your Goals by Retirement time by
Having a Max of 35% In Stocks/Equities and 65% Min. in Bonds
Meaning? Your Aggressive /Gambling Days are over, that is unless? after you have fully funded this kind of Port and have Extra $ left over , then go ahead and use that Extra $ to own more Equities, Stocks or Whatever you wish, since it is not being depended upon to fund your retirement.
Now others Start even Earlier by having Saved More or Getting Windfalls, Inherititances, etc..and thus allows them the extra $ to go gamble with.. but they have their SafetyNet-Retirement Port 100% Funded and some , like myself went for a 125% as a margin of Error in my Plans and figures..
Of course, if after doing Financial Planning and crunching #'s and Guesstimates and finding at the rate your going, you won't have enough in time with such a "conservative Mix?" then Go with the VWINX's ( 40/60) or even a VWELX ( 60/40) type Ports, as you see fit and necessary
I also found if want a Simple 50/50 Port while working? Just own 50% in both VWELX and VWINX and basically? That's really about all one needs..and if have extra $ to play with? Use that to go after whatever else you'd like to take a shot at, be it Energy,Gold or Global Funds or Lotto Tickets In Penn.( they're paying off better , Lower Winnings, but more Winners..)
I chose to First max out my 50/50 and then put extra $ into a sep. Bond Port, but of more aggressive Bonds Like Global and EMD's vs Buying Equities..and Some Gold ( TEGBX,FNMIX and USAGX) and been over 11 yrs now and they're doing fine.. about 3 yrs prior to my retiring, I reduced my 50/50 to a 35/65 using Bal. Funds and Extra Trad. Bonds.. an again, mostly because i had more than enough ( about 25% more) than I figured I would need for my Retirement needs. Now I have about 100% more inmy Retirement Port and more extra $ to go gamble with. which =
a happy camper..!
And I didn't Learn all this on my own.. by Helping others with what Little I did know and referring them to those that do know over the yrs, the More knowledgeable people just helped me out in return with their addvice..following the addage of "You always get back, what you Give Out.."