45 with two teens. am I underweight safety assets?

Age 45, two teenagers, retirement goal around 60-62 if everything behaves. Horizon is still long, but the next 10 years feel more real now. Risk tolerance: medium.

Allocation:
- 68% equity index funds
- 12% bond funds
- 10% cash
- 10% short-term savings for near-term family costs

I used to feel super comfortable being equity heavy. Lately every expense seems to arrive wearing football shoes and carrying a receipt.