The idea that as you get closer to age 65 you should start shifting into mostly bonds not only makes no sense it is dangerous. First of all, bonds are not necessarily safe, they appear that way because we have been in a declining interest rate environment. If interest rates increase then bonds will lose value. Second, even at age 65 you still have a long time horizon, with increasing life expectancies you could live until 100 or beyond. Putting most of your money in vehicles earning 3-4% almost guarantees you will run out of money at some point.