I am nearing retirement and might be reallocating some investments. Are there reasons I would not want to allocate my pension (will provide 55% of my desired yearly income) as the bond portion of my investments. That would allow the bulk of my investments to stay in stocks. If I were 55 years old that would be the 'rule of thumb' 55% bonds allocated for my age. If so, when my social security starts it would further increase my "bond allocation". Right?