As you near retirement, you shift your asset allocation to be more conservative (more bonds, less equity). You don't need all of your retirement funds the day

As you near retirement, you shift your asset allocation to be more conservative (more bonds, less equity). You don't need all of your retirement funds the day you turn 65. http://www.bogleheads.org/wiki/Bogleheads%C2%AE_investment_philosophy http://www.bogleheads.org/wiki/Bogleheads%C2%AE_investment_p... Unless you're able to make huge contributions, a savings account is unlikely to provide the funds you need for retirement.