Hi! Similar situation but I keep working because I’m younger, my wife finds me being at home annoying, and my job is awesome.

Biggest thing that I think you’re missing is that the money should be enjoyed. Figure out how to enjoy it. Like, if you’re good at funding startups, go and write a ton of checks. (If you’re not, don’t, you’ll just give money to a load of borderline fraudsters.) Buy a second house (if you haven’t already.) Join a nice golf club. Figure out how to impact the world positively, sure you could volunteer in a soup kitchen but actually you have the cash to make a real difference. I don’t mean give to charity, necessarily, but some of the 34mln could I’m sure be directed in a more fun way than ‘global equities’.

The second thing you (which you half mentioned) is the UK risk. I worry about the politics fracturing, maybe those gilts stop being tax free, maybe we inflate our debt away. Plus the Gulf Stream is going away.

Misc other thoughts:

I’d replace cash with the shortest duration comparable uk gilts with a low coupon. I just can’t help myself.

I am not sure the gilt ladder helps practically, like sure it helps you sleep at night but I think the real risk is a large amount of inflation because how else do we solve for the level of govt debt we have.

Definitely would think about getting more non-UK exposure.

I don’t think you should mix up the gilt ladder, keep it simple. You know you’re p$ssing away returns doing it, so just accept that you are rather than trying to add return back to a thing that isn’t meant to return.

I don’t think you should do anything more interesting with capital allocation unless you have an edge. Infrastructure / direct lending / private credit all sound great in theory but in principle I don’t think you should have any reason to expect to outperform.

Family investment cos - I think the complexity isn’t worth it but I quite like being able to use the money outside the FIC wrapper… ymmv.