u/bart007345

I (56m) have managed over the years to build up quite a large pension, its now just over £1 million.

However, most of it is in 2 funds:

1. 80% VWRP
2. 20% L&G Global Technology Index

Both have done amazingly for me over the last 20 years.

My issue is that being this heavily invested in equities is risky as I approach retirement and may need to start drawing money out to live in.

To be clear though, I do not have retirement planned yet but I do know that in the run up you should be moving some out of equities.

I consider myself financially literate but when it comes to making changes at this level, I feel I need some outside validation. Here's a few thing I have been thinking about:

1. 100% equities the day I start drawing from my pension is a bad idea
2. 100% equities when there is a downturn is painful
3. Having a mix of equities and bonds was gospel but in recent years has not been the hedge people thought it would be (inflation? Or was it Liz Truss?)
4. Some articles have talked about buying GILTS instead of bonds, as they are more predictable and can be used to provide an income at the time I need it (say the first 3 years of income from date managed GILTS I had bought in advance).

Any insight would be appreciated.