expenses are managed. When she was about 7 years out they only had 33% in equities and when she got to 4 years out it dropped to 20%. I recognize that there is a HUGE difference between 4-5 years of college expenses and 25-30 years of retirement expenses but I do think folks are playing with fire a bit right now. I won't get too conservative but I am also not going to get screwed and have to work another 2-3 years.