Mr B is 56 and has been investing for more than 30 years. He has investments held in self-invested personal pensions (Sipps) and individual savings accounts (Isas) worth £777,600 in total.
He says: "I would like to achieve an investment goal of £1m in my Sipp within four years to allow me to take a 25 per cent lump sum and to start generating income of approximately £35,000 a year (in real terms) from the remaining investments. When I retire from full-time employment I expect to do part-time work that will generate about £20,000 per year, and my wife has income of about £25,000 per year. We have a small mortgage remaining on our principal residence, which will be paid off either by part of the lump sum or savings within the next four years."
His priorities are to protect his wealth and grow it steadily since the earnings from the portfolio will provide the majority of his income in retirement.
"I want to maintain the Isa as a vehicle for growth," he says. "I also want to simplify my portfolio and make it easier to manage over the coming years.
"I am willing to invest internationally, understand the importance of lowering fees and costs wherever possible, and am happy to do my own research.
"I am considering the sale of all direct share holdings that are worth less than 5 per cent of the portfolio and moving the funds into a Vanguard global dividend yield exchange traded fund (ETF) or lifestyle fund. I am also considering topping up my existing investments in Fundsmith Equity (GB00B41YBW71) and Personal Assets Trust (PNL)."
Sipp and Isa
£1m in Sipp within four years, enabling income of £35,000