£10,000 a year from 10 shares?

chucknorris

gadgetmind wrote: »

Unless you are either prepared to diversify widely, or unless you're using some specialist knowledge to select shares, then I agree.

But apropos nothing, I do hope some time that my daughter goes to see an IFA and shows them her current portfolio. One (very!) high beta tech share, one subordinated bank preference share, yikes! And then they could move to IRR ...

I definitely don't have specialist knowledge and also don't want to spend time acquiring that. If we had children my attitude would be different, but we are going to struggle to avoid that dubious title of richest man in the graveyard. To be honest our main problem is that I like doing things that don't cost much: Walking my dog, running (with my dog), cycling (both as exercise and with my wife and dog as just fun) and swimming, (I'll do a triathlon when I retire), bowls, chess, having friends over for dinner/going to friends. It isn't that I'm tight, its just that I don't spend much.

Linton

chucknorris wrote: »

Believe me I have taken all the risks amassing our wealth, now is not the time for us to continue with risk. We can't actually spend what we have, so there isn't any point in taking on risk.

Interesting, although starting from a similar point my take is the opposite. Since there is more than enough in the pot to meet The Plan some measured higher risk isnt a problem and it makes life more interesting. Though when seeking higher dividends one musnt do it blindly - there are quite a few duff companies with a moderate dividend and an even more moderate price that show a high % yield.

Aged

Thrugelmir wrote: »

Why have you singled "banks"? Vast majority of fund managers have no connection to banks.

Not sure what your point is, but I'm talking about Joe Bloggs, the ordinary working man on the street and his conception of 'investing'.

coyrls

Aged wrote: »

Those are EXACTLY the sort of people the article is aimed at (in my humble opinion of course). Its aim is to show that if you are looking to derive an income from your pension pot, you will be far better off 'investing' it than handing it over to the banks.

It amazes me how many posters in this forum are unable to zoom out and appreciate the bigger picture!

There are plenty of better ways to invest to derive an income from your pension pot than buying 10 shares. Not sure who you think is advocating "handing it over to the banks", I don't think I've ever seen that suggested as an option. Perhaps I haven't zoomed out far enough.

Aged

coyrls wrote: »

There are plenty of better ways to invest to derive an income from your pension pot than buying 10 shares. Not sure who you think is advocating "handing it over to the banks", I don't think I've ever seen that suggested as an option. Perhaps I haven't zoomed out far enough.

*sigh* I give up ...

chucknorris

Linton wrote: »

Interesting, although starting from a similar point my take is the opposite. Since there is more than enough in the pot to meet The Plan some measured higher risk isnt a problem and it makes life more interesting. Though when seeking higher dividends one musnt do it blindly - there are quite a few duff companies with a moderate dividend and an even more moderate price that show a high % yield.

It took a while and some stress to amass the Millions (and we are talking about millions) so I just don't see any point in giving it away, we want to actually spend it instead. Why take on risk, to earn more that you can't possibly spend?

gadgetmind

chucknorris wrote: »

We can't actually spend what we have, so there isn't any point in taking on risk.

You may be in the right mindset for Personal Assets or Ruffer?

chucknorris

gadgetmind wrote: »

You may be in the right mindset for Personal Assets or Ruffer?

I had to google Ruffer (sorry I didn't get past the opening page of their website). We are quite content knowing that we won't spend it all (I know I complain, but that's just me). We will leave quite a bit to friends, the dogs trust and the last chance rescue centre. But more to the point I/we will enjoy life, I am actually still working (as a uni lecturer), which I started doing (out of previous early retirement) 5 years ago, but I can't stop as I really enjoy it (for now).

jimjames

Thrugelmir wrote: »

Why have you singled "banks"? Vast majority of fund managers have no connection to banks.

I assume aged is referring to the majority of people who think risk of shares is too high and just plonk their money in a cash isa or savings account.

Even the majority of people on here seem to only use cash savings not investments.

jimjames

coyrls wrote: »

There are plenty of better ways to invest to derive an income from your pension pot than buying 10 shares. Not sure who you think is advocating "handing it over to the banks", I don't think I've ever seen that suggested as an option. Perhaps I haven't zoomed out far enough.

Maybe read a few forum posts or Daily mail comments where people are moaning they get so little return on their savings pot without looking at what the alternatives are.