The reasons I don't want to be banged up with bonds

"So what kind of balanced portfolio would you recommend for me?" asks the innocent retiree. "Well, ...

"So what kind of balanced portfolio would you recommend for me?" asks the innocent retiree. "Well, as a rule of thumb we say the percentage you should have in safe investments is the same as your age," responds his adviser. "You are 65, so in your case we would recommend about 65% in fixed interest and 35% in equities and property." A typical conversation between client and adviser? Maybe, if a recent outbreak of political correctness in portfolio allocation is being followed by IFAs around the country. But I hope it isn't. Yet I fear that the prescriptive methods that multi-ties adopt wi...