Human Capital as a Risky Asset capital, scenario, invested, because, opposite

Viceroy

CFAI volume 2, page 327, states that for young investors with equity-like Human Capital the financial assets should be invested predominantly in fixed-income assets. It goes on to state that "because the value of one's human capital declines with age, the share of risk-free assets in the stockbroker's portfolio will also decline and the share of risky assets (...) will rise until retirement".

Then, on the next page, figure 9 shows the opposite. In scenario 1 (that of Human Capital risk highly correlated with the risk of other risky financial assets) the proportion of the risk-free assets starts at about 10% for age 30 (that is, not predominant at all), and increases (instead of decreasing) until reaching a maximum of about 70% at age 65.

The text explanation seems straightforward enough - but then why does the figure blatantly contradict the text?

Any comments?

Iginla2011

The question is:

If I'm a young investor with equity-like human capital highly correlated with other risky financial assets, should I:

a)invest predominantly in risk-free fixed-income assets (page 327)

or

b) invest only about 10% of my portfolio in risk-free assets (figure 9, page 328)

What is the correct answer?