SIPP Value on 16th October 2020

 It's been a long time since the last post, and an awful lot has happened in the meantime.

The SIPP has been through some ups and downs, or should I say downs and ups?

From a "high" of £215,000 in early February, the SIPP value plunged due to Covid, then briefly recovered, then plunged again dropping to £130,000 - a correction of 40%. Thankfully, I pretty much held my nerve and the 2nd recovery started in mid-March.  With the recovery underway, I reviewed and rebalanced my portfolio - not much, but I put more into IT companies which is where I anticipated the best gains would be, and it was a good guess!

Now, my portfolio is up to £226,000 and pretty much back on target.

From the blog posted on 13th May 2018.

Initial capital 1st August 2012 = £51,684
Projection used = 13% pa growth = 1.02% per month
For the first 36 months of the SIPP, monthly contributions were £300/mth.
Since August 2015, monthly contributions has been £750/mth.

Monthly contributions ceased on 7th June 2019.

A Lump Sum contribution of £14,000 was made on 24th January 2020 (unfortunately). 

August 1st to November 1st = 3 months
51,684 plus £300 x 3 = 52,584 @ 1.02% growth / month = £54,193

Year 1 (pe 01Nov13): b/f £54,193 plus £300 x 12; plus 1.02% growth / month = £65,029
Year 2 (pe 01Nov14): b/f £65,029 plus £300 x 12; plus 1.02% growth / month = £77,270
Year 3 (pe 01Nov15): b/f £77,270 plus £300 x 9 

and £750 x 3; plus 1.02% growth / month = £92,462

Year 4 (pe 01Nov16): b/f £92,462 plus £750 x 12; plus 1.02% growth / month = £113,978
Year 5 (pe 01Nov17): b/f £113,978 plus £750 x 12; plus 1.02% growth / month = £138,280
Year 6 (pe 01Nov18): b/f £138,280 plus £750 x 12; plus 1.02% growth / month = £165,735
Year 7 (pe 01Nov19): b/f £165,735 plus £750 x 8; plus 1.02% growth / month = £193,706
Year 8 (pe 01Nov20): b/f £193,706 plus £14,000 on 24Jan20; 

plus 1.17% growth / month = £234,166

My Target retirement fund value is £500,000