Thread by @TheReluctantIn2

1/9 Better late than never 🧵on where our income derives. We have 4 basic PFs:
Our 2 SIPPs more cautiously positioned than our ISAs from which we draw the tax-free allowances covering basic existing
My ISA meant to cover holidays etc...
Wife's growth ISA meant to be higher risk

2/9 The current values and yields (cashless is yield on holdings)

I don't care about 2 decimal place precision btw. I reconcile my Google sheet quarterly to HL and Sharepad to ensure I'm in the right ball park.

3/9 You can see from this year's YTDs how they've currently done individually and last 5 yrs. 2016 - 2019 I had a huge cash drag in run-up to taking 25% lump sums, most of which has been fed into ISAs to generate tax-free income. See today's budget for why!

4/9 And what I've really proved is that despite spending more time in LD than I'd've liked, I don't have any particular trading or stock-picking skill or aptitude as my wife's ISA shows. My "niche" is tracking pooled investments - mainly ITs.

5/9 What's more is that my own benchmark is Capital Gearing IT (grey line above) and you can see I haven't beaten it this year. Its wealth preservation remit is pretty much my own. So why have I only got 70k in it I hear you ask?

6/9 I would cheerfully give Peter Spiller the whole lot to look after and just keep 100k or so of cash to live on for 2-3 yrs, selling bits of #CGT when I needed more. But of course that would be madness from a portfolio risk perspective

7/9 And I still find it hard to hold more than that in any single investment (which is ~5% anyway). But to build an income pf using stocks would need me to find 20 or so I was willing to risk 70k in. I'm not good enough to do that, nor do I want to track all those RNSs etc..

8/9 So I'm by default driven to a larger-than-I'd-like set of ITs in various sectors. What's basically an (over) diversified portfolio, loosely allocated along the guidelines below. But it allows me to sleep at night. So job done on that front.

9/9 Trying to build conviction to hold larger amounts of fewer holdings is my challenge, one I may never rise to. Here are our top 30 currently. That's enough and well done if you got this far.