how would you feel if six or so months down the line inflation was a fair bit higher and deposit interest rates had followed?.
I have a ladder of fixed interest deposits
A not marked to market 10 year gilt ladders yearly gain can be approximated (as not all rungs will be exactly equal £££ weighted) as the average of the prior 10 years ten-year gilt yields
Each year as one rung matures you roll the proceeds into another 10 year.
That induces a lag factor, time shifts rewards out of cycle with other assets, which is a form of diversification/risk-reduction. When yields are low however instead of rolling into another 10 year you can roll into shorter duration, perhaps 5 or even 3 years. Shorten down average maturity/duration. Similarly if yields looked relatively good/high, then you might roll into a 15 or even 20 year.
For 2021 the straight 10 year ladder is set to provide a 1.75% reward.
Another approach is to assume that the yield curve remains unchanged and buy at near the peak of the steepest part of the yield curve, where the yield drops off the quickest and hence has the higher capital value price change/increase. Buying and selling after a year/whatever, marking to market. In such cases you may even be able to turn a -2% type real reward when held to maturity on average index linked gilts into a 0% real. "Rolling down the yield curve" (Google it).