I also found the article to be lacking. The overemphasis on "income-generating" assets does indeed reflect a misunderstanding of any sort of risk profile, as does the "buy and pray" moniker.
Income-generating assets do have a place in your portfolio, but certainly should not be the majority especially if you are so far away from retirement. As you mentioned, as one ages the allocation can be changed. Towards retirement and into it, income-generation should have a much bigger proportion as it better reflects one's needs.
Income-generating assets do have a place in your portfolio, but certainly should not be the majority especially if you are so far away from retirement. As you mentioned, as one ages the allocation can be changed. Towards retirement and into it, income-generation should have a much bigger proportion as it better reflects one's needs.