General advice to investing is take on more risk while you're young and less as you get close to retirement. Reasoning being you can earn back what you lose while you're young and there's more to gain on growth investments.
How's this for a strategy - early in your career invest everything you own (let's say 200K) into a growth stock and hope for the best. If it works out then you're likely a millionaire and can afford to live a baller and carefree lifestyle for a few years at least without being tied down to a job. If it doesn't, sucks to lose everything but you have the rest of your life to build up wealth again. Worth the gamble?