By Chris Dillow , 16 April 2012
Our reader, 47-year-old John Cooper has been investing since he was 17. His investment objective is to build a capital sum by long-term investment of both capital and reinvestment of dividends. He describes his investments as "partly a supplementary pension fund and partly a rainy day/comfort blanket fund to finance any life-style changes... or large purchases".
As a civil servant, he is a member of the final-salary pension scheme – he plans to retire in 2029 aged 65. He says: "Compared with most people I am financially in a very fortunate position. I am 47, single with no children and my only dependent is a cat. I am in secure full-time employment earning approximately £45,000 a year before tax."
His only liability is a mortgage of about £40,000 which he plans to pay off using some of his cash Isa and an endowment policy which will mature soon. Most of his shareholdings are in companies that offer drip schemes which he uses to reinvest his dividends. He does not like unit trusts/Oeics because of their charging structure.