10 years is quite a short period to entrust monies you will need quite soon to the vagaries of the stockmarket especially if it is money you are intending to spend to depletion
Up to 50% equity drops do occur regularly and it would be too bad if one of these occurred near your retirement -your financial situation could possibly then be irretrievable
It would be wise therefore to dial down the equity part of a portfolio in this situation
This leaves you with a choice of bonds and cash for most of your savings
Perhaps no more than 20- 30% equities in a global equity index tracker to get some growth in your portfolio with out too much risk
The rest in a mixture of global bond index tracker hedged to the pound and high interest cash ISAs (some good interest rates currently available could be locked in)
Get as much of your savings in tax free wrappers as possible-ISAs and SIPPs
Withdrawals from ISAs are tax free
Factors under your control like saving as much as you can,watch costs and living frugally will be a major help
xxd091
Up to 50% equity drops do occur regularly and it would be too bad if one of these occurred near your retirement -your financial situation could possibly then be irretrievable
It would be wise therefore to dial down the equity part of a portfolio in this situation
This leaves you with a choice of bonds and cash for most of your savings
Perhaps no more than 20- 30% equities in a global equity index tracker to get some growth in your portfolio with out too much risk
The rest in a mixture of global bond index tracker hedged to the pound and high interest cash ISAs (some good interest rates currently available could be locked in)
Get as much of your savings in tax free wrappers as possible-ISAs and SIPPs
Withdrawals from ISAs are tax free
Factors under your control like saving as much as you can,watch costs and living frugally will be a major help
xxd091
Statistics: Posted by xxd091 — Sun Jul 14, 2024 4:55 am — Replies 4 — Views 1001