Having too much money is not a common problem, but two of our readers have a spare £700,000 in cash and are uncertain how to go about investing it.
They explain: "We are a 50-year-old couple and have £500,000 in two self-invested personal pensions (Sipps) and £200,000 in two individual savings accounts (Isas). We want to create invested portfolios, but are confused as to how we can do this when markets and funds are at all-time highs."
The first thing any investor needs to consider when putting together a portfolio is their aims and objectives. This couple wants to retire in 10 years' time on a combined income of £25,000 a year, and plans to contribute the maximum to their Sipps and Isas over that time. They own an engineering company that they are both directors of, with no mortgages or debt. They also have savings of £275,000 in easy-access cash accounts and money in their company account for luxuries such as new cars and travel.