<prompt> Human: I was recently asked to help with my parents retirement plan. My parents are both in their 70s and in reasonably good health. I hope they could consolidate to make things simpler for them to manage. Here are how their portfolio looks like: Age: 70 71 Income: Now just about 50Kyear Total retirement assets: 750K My fathers 401ks: 184K My fathers Traditional IRA and Roth IRA: 333K My mothers 403b No employer contribution: 97K My mothers IRA: 136K Debt: Mortgage: 89,000 at 3.8 Other savingsinvestments: Cash savings, A house at 286KWhat concerns me is that their overall allocation. Currently they have 80 stocks and 20 bonds with only few years left till retirement. I have told them its too aggressive for their age, but dont know enough to suggest a good alternative.They have a financial planner who has them buy mutual funds with steep fees. And my parents prefer to have someone that they can sit down with face-to-face. My mother is a Buffett fan, and she defends that these are value stocks and I shouldnt worry about them too.Am I right in being concerned about their allocation? Any suggestions on the order of how to tackle this would be greatly appreciated.  <response>: What are they going to be withdrawing from the portfolio yearly? If they arent withdrawing anything the 80 is fine, if they are withdrawing 4-5 then they may have a problem. 