S&S Lisa investment advice, please

[Flapperghast]

I've been investing small amount in my S&S Lisa for a few years, and only have a few thousand invested. My Lisa is with Dodl and it's really hard to switch after the age of 40, so the range of what to invest in is more limited. At the minute, I've invested in Life Strategy 80. Going forward I'm in a position to invest more, but I don't know whether to continue with this, or split with the HSBC FTSE All-World.

I keep reading about changing your asset allocation as you age (I read that your equity percentage should be approximately 115 minus your age or something, and the rest in bonds), so at what point should I start reducing the risk? Presumably the HSBC fund will raise my percentage further.

I am currently 40, and can't access the money until I'm 60. When do I need to reduce the risk, and which if these funds would you go for, please?

Sorry for any mistakes I've made - I'm quite new to all this.

Derisking over the final 5 to 10 years used to be a standard pension strategy. But that was when everyone used to use (I think had to use) their pension to buy an annuity. The idea was to reduce volatility, so that you had a good idea what you we're getting and didn’t lose out because of the market being down at the point you needed to draw the money out to buy an annuity.

But if you are planning more flexibly - in term of what you do with the money or exactly when you draw it - you don't necessarily need that extra stability and might be best staying mainly in equities, which usually have better returns.

You have at least 10 years to think about that before you start making any changes.

Thank you! I think I'll just go with the HSBC FTSE all world for now, and derisk on 10 years if necessary.