My father is looking to rebalance his portfolio, asked me for some input, and I'm not sure what kind of asset allocation he should have. He's 68 and my mother turns 65 this year. Both of them still work part-time (my father has his own business) which won't change anytime soon, and my father has a state pension that covers their expenses and would transfer to my mother upon his death, plus both will have social security income. House was paid off long ago, no debt. I honestly have no idea how much they have in combined 401ks/IRAs/taxable investments, but for the sake of simplicity, let's say it's $800k. My father is very comfortable with stocks, my mother less so. I think they'd like to see growth, but putting it all into index funds seems risky at their ages, though they don't need the income anytime soon. I know basically nothing about bonds but could learn and try to convince him to put some portion of it there. What else do I need to know? Any books I could suggest to him to read?