Here's why the last 5 years before retirement are so critical.

In this June 15, 2018, photo a canning jar filled with currency
 sits on a shelf in East Derry, N.H. (AP Photo/Charles Krupa)

Retirement portfolios should be stock-heavy in the early days and gradually move to lower-risk holdings as investors get closer to retirement. That’s been conventional wisdom around asset allocation for retirement.

Riskier early, because without risk there’s no reward, and you have a lot of time for the ship to right itself if there’s a tough patch. Safer later, because you don’t have that time to recover after a market dip.

JP Morgan just released its annual guide to retirement, and it reminds people exactly how important it is to follow this second part of this mantra.

By Ethan Wolff-Mann.

Full story at Yahoo News.