General guideline of asset allocation based on ages. This is a very general guideline, you can adjust the percentage based on your risk appetite.
· Age 50s: 60% equity / 40% bond
· Age 60s: 50% equity / 50% bond
or you can use an age-based calculation:
· 120 – (your age) = equity %
For the equity part, I would allocate 85% to total stock market index fund (VTI) or S&P 500 index fund (SPY) and 15% to international equity index fund (VXUS). If you don't have the choice of a total stock market index fund or S&P 500 index fund, you can use 70% large cap / 20% mid cap / 10% small cap funds allocation to make up for that.
People will ask that there is no allocation of Nasdaq companies in my allocation. Actually, 25% of S&P 500 index are high technology companies. As of Junuary 1st, 2022, high technology companies had a weighting of 37% in S&P 500 Index.
For the bond part, I have another post to explain why you need to diversify your investment with bond, especially, near or at or after your retirement.
If you don't want to manage these allocations yourself, you can use target-date funds if you have this choice in your retirement account or your company's 401(k) plan.