By Chris Dillow , 01 March 2012
Our reader, Richard Silvey, is 68 years old and has been investing since his teens – "for me investing is not a chore, it is a hobby". He manages four self-select Isa portfolios: for himself, his wife, his 22-year-old daughter and 19-year-old son. He also has an Aim portfolio of non-qualifying Isa investments which he dubs "his fun portfolio".
His wife's portfolio is designed to be a source of income with some growth while his portfolio is designed to be a growth portfolio although he admits he should probably be more conservative given his age. His children's portfolios both have the long-term aim of growth although he has consciously included household names to stimulate some interest from them. All four Isa portfolios contain few funds as "I do not trust professional managers and am well aware of the expenses that fund managers take out..." Mr Silvey gets his ideas from the media, mainly Investors Chronicle and his broker and sits on these until the time seems right.