Today, I went online at my super fund's site and switched my money from 'Balanced' to 'Income Focused'. I did this because I am approaching retirement and wanted to adopt a lower risk profile (mostly because, if my super plunged in value, there is little or no time left to build it up again). The choices with my super fund are 'Aggressive', 'Balanced', 'Income Focused' and 'Cash', in decreasing order of risk profile. I wasn't game to switch it all into cash just yet, though I was tempted. The principal difference between Balanced and Income Focused is the latter is less exposed to equities, but it also puts more of my money into property and cash. I could alternatively split the balance between Income Focused and Cash if I wanted to reduce risk still further while maintaining some upside potential. I am 60yo with a range of health problems that might mean I retire within the next year or two. In my circumstances, what would you do and what are your opinions regarding the typical investment options available in super?