Which statement is false?

Asset allocations grow more aggressive as investors age and deepen their understanding of the investment market.

Investors nearing retirement may allocate a larger proportion of money toward investments that generate a fixed income.

Investors in the early life stages need easy and quick access to funds, so they should invest in relatively safe and liquid assets.

Investors who expect to be working for many more years may invest in stocks of smaller firms and growth stock mutual funds.