No. of Recommendations: 1
I'm 44 years old, single and eligible for full retirement in 12 years. I'm a state employee so I am covered by a defined benefit pension plan that will replace about 60% of my salary plus the state will partially subsidize my health insurance post retirement.

I'm currently saving about 30% of my gross income for retirement and have no debt except for my mortgage which I'm trying to pay off within the next five years. I'm fairly sure that I will be able to live on 60% of my salary if I have to, since I'm currently living on 70% and paying a mortgage.

I realize that retiring at 56 means that I could live a long, long time in retirement and I would like to make sure that I have enough to provide for my needs. I am not concerned about leaving an inheritance for anyone and ideally would check out while waiving my last dollar bill in the air. Since I can't determine when that will be, I need to make sure that I have enough saved. My family history has most of my relatives living into their upper 80's.

I would like some opinions on whether I'm sufficiently diversified. Last weeks discussion on this board about treating pensions as bonds triggered this question. I max out my contribution to my 457 plan and I've had the money in mostly large cap growth and value funds with about 10% each in small cap, mid cap and bond funds. I max out my Roth IRA and it is in individual blue chip stocks.

I have about 30 funds I can choose from in my 457 plan. The only Vanguard funds available are life strategy funds, but there are some Fidelity, American Century, Dreyfus and Invesco funds from which I can choose. So, what do you all think? Am I too overloaded in large cap stocks? Am I too aggressive, or not aggressive enough in light of the fact that I will also be covered by a pension plan. If you think I am too top heavy in large cap, what would you suggest given the above facts? I would really appreciate any comments or suggestions for me to think about. Thanks.

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