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Can I quit full time work and still get £75,000 per year?

A reader has questions around managing a large capital sum
Can I quit full time work and still get £75,000 per year?
  • This investor wants to reduce his working hours at age 60 and have an annual income of £75,000
  • He wants to give his child £100,000 in 10 years to buy a property
  • He could use some of a £1.5m bonus he is about to receive to pay off his mortgage
  • He should ensure that he is using all his tax allowances efficiently
Reader Portfolio
Sean 46
Description

Pensions, Isa invested in funds, direct shareholdings, cash, residential property.

Objectives

Leave current job at 60 and work as non executive director, pay off mortgage by 60 and have income of £75,000 per year from that time, build up £100,000 over next 10 years to help child buy a property, invest £1.5m bonus.

Portfolio type
Investing for goals

Sean is age 46, earns £300,000 per year and has a daughter aged 16. His home is worth about £750,000 and has a mortgage of £250,000.

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