Wonky Portfolio

Aged

Someone suggested on another thread that I post details of my wonky retirement portfolio so here is the current state of play. Not sure what the way forward is, any observations would be welcomed.
30% is in UK Equity Income/UK All Companies funds (Artemis Income, Invesco UK High Income, Ninety One UK Special Situations plus paltry remains of Woodford)
25% in Sterling Corporate/Strategic Bond funds (M&G Strategic Corporate Bond, M&G Optimal Income)
11% in UK Direct Property (Janus Henderson, presently suspended)
11% in Targeted Absolute Return (ASI Global Absolute Return Strategies)
11% in Short Term Money Market (BlackRock)
11% in Mixed Investment 20-60% Shares (Ninety One Cautious Managed)

A_T

Sorry to have to say this and please don't be offended but that is an awful portfolio with almost no redeeming features.

Uk Equity Income is a bad sector to be in at any time but especially now as dividend-paying stocks have really suffered
Corporate Bonds are risky and highly correlated to equities
UK Direct Property - suspended no more needs to be said
ASI Global Absolute Return Strategies is mess and you must be one of the few who hasn't yet taken their money out
Short Term Money market - you probably won't lose much but it won't grow either
Ninety One Cautious Managed is one of the worst performers in it's sector

let me guess a financial adviser devised this masterpiece for you?

Aged

A_T said:

Sorry to have to say this and please don't be offended but that is an awful portfolio with almost no redeeming features.
....
let me guess a financial adviser devised this masterpiece for you?

Heck is it really that bad? Yes, you guessed it.

Prism

Are you currently contributing to this or are you in drawdown? 

Moe_The_Bartender

Dear God. I hope you’re a long way off retirement. You need to dump as much as you can and start over. If you tell us a bit more about yourself, you’ll get plenty of suggestions.

Aged

Prism said:

Are you currently contributing to this or are you in drawdown? 

I'm in drawdown - or was, I've recently cancelled the withdrawals until I can get things sorted. Luckily I have some cash reserves to fall back on.

Aged

Moe_The_Bartender said:

Dear God. I hope you’re a long way off retirement. You need to dump as much as you can and start over. If you tell us a bit more about yourself, you’ll get plenty of suggestions.

Nope I'm already 'retired' as have had ill health for many years. Official retirement date is 5 years away. 

Thrugelmir

Seek professional advice to realign your portfolio in order that it better meets your goals and objectives. 

Sailtheworld

Good idea - maybe avoid the advisor you used last time.

Aged

Thrugelmir said:

Seek professional advice to realign your portfolio in order that it better meets your goals and objectives. 

This is where I came in. It's much easier said than done, plus I'm afraid my experiences to date have caused me to have trust issues with 'financial advisers'.

A_T

Have a look at Vanguard's Target Retirement Funds