“Is £200,000 enough to fund my jet-setting retirement?”

After a lifetime of savings, it’s understandable that retirees want to relax in style. John King, 72, from Kent, loves to travel. He plans to take his wife, Susan, their two daughters and wives, and his four grandchildren for an unforgettable £30,000 vacation to America.

Mr King and his wife traveled abroad regularly before the pandemic and now want to make up for lost time. The pair saved a prize pool of £90,000 and premium bonds worth £86,000.

He receives £42,000 a year from a ‘defined benefit’ pension, which covers more than the couple’s normal expenses, so he hopes to use any income from his £204,000 Isa to fund a jet-set lifestyle.

“I’m retired and looking to maximize my investment to afford a vacation,” he said.

The staunch Tottenham Hotspur supporter says he plans to leave the house and remaining investments to his children but will spend the income generated in the meantime.

Mr King has more than £80,000 in shares, including £30,000 in telecommunications giant BT, after a long career there, as well as £15,000 in Lloyds, the bank, and £2,000 in the finance company Legal and General.

In terms of funds, his largest positions include £2,200 in Royal London UK Equity Income, £7,000 in Franklin Templeton Small and Mid Cap funds and £2,000 in a Fidelity Global Dividend fund.

He wants to know if his money has been put to the best use or if he could improve his investment strategy.

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