One strategy might be to maintain a diversified portfolio using the principles of correct asset allocation, while at the same time opening another, more speculative account. (thecollegeinvestor.com)
Depending on your future needs and wants, you can determine the correct asset allocation and withdrawal rate that will give you the best chance of minimizing longevity risk. (awealthofcommonsense.com)
So while on a macro level you may have the correct asset allocation, you could be heavily weighted in a particular stock or category unknown to you. (investorjunkie.com)