Age Mid-Twenties:
65% Stocks, 20% Bonds, 10% Real Estate and 5% Cash.

Age Late Thirties to Early Forties:
55% Stocks, 30% Bonds, 10 Real Estate, 5% Cash.

Age Mid-Fifties:
45% Stocks, 37.5% Bonds, 12.5% Real Estate, 5% Cash.

Age Late Sixties and Beyond:
25% Stocks, 50% Bonds, 15% Real Estate, 10% Cash.

Bottom line less risk as you get older.

These numbers are based on what is presented in Burton G. Malkiel’s book “A random Walk down Wall Street”, chapter 14, p. 350-351.