According to a recent Bloomberg article, in its third-quarter retirement report Fidelity Investments said that Baby Boomers (those born between 1944 and 1964) are too heavily weighted in stocks.

The report argued that Boomers have been “riding a 10-year bull market into retirement, steadily upping bets on stocks to boost 401(k) returns and exposing them to unnecessary risk.” It explains that the generation has exceeded Fidelity’s recommended allocation to stocks (70% for those 10 years away from retirement), with almost one-tenth of the group entirely invested in equities, “running the risk of serious losses in a market meltdown.” Almost a quarter of all savers, the report said, had too much devoted to stocks.