Jon Mackenzie is 65 and married with two non-dependent children and three grandchildren. He intends to start drawing down from his self-invested personal pension (Sipp) in July when he turns 66.
Reader Portfolio
Jon Mackenzie
65
Description
Sipp & Isa
Objectives
Supplement pension income
Portfolio type
Managing property investments
"I will reinvest my tax-free lump sum worth 25 per cent of the Sipp in my stocks-and-shares individual savings account (Isa) for emergency funds, and use some for property improvements," says Jon. "I'm not overly optimistic about returns from my Sipp and realistically would only expect 3 per cent. But we live a modest lifestyle and don't have any debt or mortgages, so think we could live quite comfortably on £30,000 a year - or even £27,000.