I think not investing in the stock market has a higher risk if you look at the long run / retirement. You can read good studies on withdrawal rates and how different investments can influence them. I assume a 4% withdrawal rate based on the Trinity study in retirement. We invest for the long run and I follow a 'bogleheads' (based on the founder of Vanguard) philosophy to use low cost broad based index funds.
We have 35% in US equities, 35% in international equities and 30% in bonds. I did re-balance when it hit our bands (5%) in March / April (buying more stocks to stay 70/30) and then recently back again. Worked out quite well.
We use the lowest cost funds and do invest in the world market and not individual stocks or sector funds. 1% fee will add up quickly over the years. Because of our US citizenship we use US funds and companies (Vanguard, Fidelity, Schwab) and also have an IB account (US based).
Also no bitcoin or TSLA

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For safety we have approx. 6 month expenses in cash equivalents in our accounts (Swiss and US) and we also keep the Swiss taxes (C permit) accrued available.