Some advice from a Financial Advisor

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Pretty vague since hesays adjust according to your risk tolerance so that could be anything, although I agree with that thinking.
 
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The rebalancing yearly is also a debatable advise. I've heard that you dont let your "winners run", you can miss out on a lot of the potential profit. Market runs are quite often a lot longer than just one year. Usually the best selling point, is after markets have peaked (especially a second peak, on weaker volume) and begun to fall, not while its still onits way up. Its the opposite of "catching a falling dagger" to pull out too soon when stocks are rising
 
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