Some common qualms about retirement are beyond your control, like economic conditions. Nevertheless, any fears that can be eliminated should be, where possible, and taking out more cash is one way to do this.
It is important to actually run retirement projections using a variety of asset classes and asset allocations. Hire a financial planner or use sophisticated financial planning software that allows you to run a variety of projections with different allocations.
A key component of a solid retirement plan is maintaining optimal levels of cash. Nobody wants to run out of money in retirement and having a sub-optimal allocation in your portfolio can lead to you not being able to meet your retirement goals.