Correct Consideration for Strategic Asset Allocation

Michael is a financial advisor developing a strategic asset allocation for his client, Linda, who is 45 years old and plans to retire at 65. Linda has a moderate risk tolerance and seeks to achieve capital growth while preserving some level of capital. Michael has access to a diversified range of asset classes including equities, fixed income, real estate, and alternative investments.

To effectively meet Linda's investment goals, what is the most appropriate primary consideration for establishing her strategic asset allocation?