My question as well. I’m by no means even close to being in their position, but this is how I imagine their main ideas/focus: 1. diversify and reduce volatility 2. knowing the risk of stocks when there’s a bubble & P/E ratios are bloated 3. knowing bonds will erode your wealth over time against inflation 4. they probably already have significant real estate exposure and don’t want to over-allocate I would probably buy, start or invest in small businesses like a farm.