Undecided whether to INCREASE risk at my age

[NegevSouth]

I'm referring to a £60k SIPP that I have with Vanguard and invested in their VLS60.

Little background.....68 years of age, retired and living off cash savings, interest from past matured bonds and state pension. My intention was to begin modest drawdown amounts from the SIPP in 2024.

My circumstances have slightly changed recently, in a positive way and now find that I don't actually need to access the SIPP for another 8 years.

I'm thinking about switching £30k of the VLS60 to Vanguard's FTSE Dev World ex UK which is 100% equity. This will increase my total exposure to 80% equity, though of course will reduce the UK exposure by half.

For me it's a difficult decision to make. There is no definitive answer. The obvious response would be to question my appetite to risk, which generally is more on the 'play safe' spectrum. But then again, 8 years is a decent timeframe and I'd hate to ask myself in 2029 why didn't I go for it back in 2021?

Any thoughts would be noted with great interest....

[1nvest]

Please share what decision you do make as my bet would be that if you reduce UK and increase equity exposure then the UK will do well and reducing stock would have been better. Or vice-versa.

Even if the right choice is made, sometimes the difference between 60/40 and 80/20 can be near zero

If anything I'd be more inclined toward that in the UK stock and Pound having relatively lagged due to Brexit that could turn around and see above average forward rewards a.k.a stick as-is. Under Covid much money has flowed into the US$, as/when that fear subsides then so might capital flight the US$ into other 'better value' alternatives and the UK is potentially quite high up on that value front.

If you're concerned about 'regret' or struggling with a decision then a good choice is to split the difference, halfway ... as then you'll not have been fully wrong or right.