That statement is completely false. You better check with your financial planner or tax preparer. You will be subject to a big fine if you don't start pulling out money from your 401k or IRA at 70 1/2.
One problem with shifting your portfolio to a more conservative investment. You are living longer and the more conservative investment will no keep pace with inflation etc, especially if you are dependent of these investment providing income.
i just went from $110 a month with ATT to $45/ month with unlimited text, phone and data. The best NO SERVICE CONTRACTS. There are providers out there who use the big boys equipment and they buy the unused minutes and sell it on the secondary market.
Get wise and switch.