John and his wife are age 64, and she has retired. John still works part-time as a consultant, which earns him £30,000 a year. They will start to receive state pensions from the end of this year, which will amount to £15,000 a year in total. All their other pensions have been consolidated into self-invested personal pensions (Sipps). John has taken his 25 per cent tax-free entitlement to settle a tax bill, but otherwise they have not drawn on the Sipps and don’t intend to.
Cut your equity exposure and number of holdings
Reader Portfolio
John and his wife, 64
Description
Sipps, Isas and trading accounts invested in direct shareholdings and funds, cash, residential property
Objectives
3.5% a year total return, pass on assets to children tax efficiently
