Later they paid the price in anxiety, additional years of work, and in lack of flexibility in making job and location decisions. As income exceeds needs it is tremendously tempting to stop being careful, to let budget discipline slip and to reward ourselves. Having goals, planning, and discipline are probably more important here than in the early years. Here the parable of the stewards really plays out. Investments during this phase should be balanced, diversified and appropriate to your goals and your tolerance for risk.
Balance is achieved through asset allocation.
Most financial institutions have models for stages of life which allocate slices of the pie between cash, bonds, and equities. Many of these models are uniquely civilian and do not convert directly to a military professional at a similar age. This is primarily because, with our excellent retirement program, we are less dependent on retirement accounts so we can take greater risk. We also have job security and survivor benefits which allow more aggressive investing. The military example has a higher percentage of equities with their inherently greater risk and greater potential for return.