I am retired and, apart from my state pension,am very dependant on whatever income I can make from a small portfolio of ISA's (53000) invested in 8 equity income and 2 strategic bonds which yield about 4.5% .

From my fairly basic understanding of investing in funds,it occurred to me that I might be better off by investing in more racy growth funds (accepting obviously the extra volatility) and, hopefully, if I get it right , take some profit from these funds,on say a twice-yearly basis.

I appreciate that by doing this I am continuously reducing my capital base, but hopefully, if I pick the right funds, this would be made up relatively quickly.

I would be interested to know whether anyone uses this method to obtain an income.