Grace is a conservative middle-aged, single lady earning decent income from her position as a Senior Manager in a sizeable property management company in Hong Kong. She is quite risk-averse and her major investment (except her residential property which is already fully-paid, with a current market value of $5,500,000) consists of $2,000,000 U.S. government bond, $500,000 international bond funds, and $1,000,000 local income stocks. However, she is going to retire in about 10 years and she is quite worried that her current investments may not give her any inflation protection and cover her retirement life.

If grace insists on changing part of her investment portfolio to more risky investment in order to cover the inflation and her retirement life

What are your recommendation to her? (300 words)