10% to diamonds??! ... and 50% cash? Sounds like the 80% of lotto winners. Your going to have to sell some of your metals in a few years because your assets are going to be to high and affecting your centrelink payments.
I wouldn't do anything different to what I am doing now. $1mil isn't really that much, your not going to retire on that
That depends where you live (price of house) and lifestyle. My dad owns his own cheap $200k house outright (in Hobart - outer suburds) and lives off the government $19k pension. Runs a car and saves $25 a week. At 5% on $400k in the bank and 200k to purchase a house, one only needs $600k to retire. Not saying you can do much on that basic kind of lifestyle but I'd be happy. bail-ins could be a worry though. But 2 x $200k houses, living off the rent would have the same result, maybe a little better (about $25k to live off). Not much of a senario for a family, but a Mill would certainly do me and my family I reacon, here in Tassy anyway. How many people now moving to Tassy ?
Expose yourself to the property market with as much lending a broker can get you at 80% LVR, the rest into free cash flow earning stocks. Stick to a 10% PM weighting of your total invested capital exposure and adjust it accordingly over time so it sticks to the 10% weighting.
Put the full $1m into a commercial property yielding 8% pa and you'll very easily retire on that. Plus have all that delicious equity to use as a deposit for some cashflow positive properties to bring in even more cash.
If I had a million dollars I'd buy a commercial fishing boat and keep fishing till the million dollars was gone
I would borrow extra $ buy two London good delivery bars bury them and hope to win a millon dollars in tatts so I never have to cash the bars in
I'd think about buying property that is near the expansion area for a mine. It is a gamble as they need to get the expansion approval but generally if you are within the acquisition zone you get about 140% of the market rate. It may also tale some time to realise this so may not be a good idea.
or it's just a movie reference... come on guys, surely you've seen Officespace xD A Golden classic line... [youtube]http://www.youtube.com/watch?v=A939QRRSNV4[/youtube]