As advised with my last blog, having missed the latest target set for the blog (£500k by 8th Nov 2024) I've readjusted my goals, and would like to have a SIPP fund value of £325k in 1st May 2026.
My intention then is to drawdown the SIPP in quarterly lump sums of £6,000 (£24,000pa) which represents approx 7.50%. This was pointed out to me by a reader as being a tad on the high side, and I realise that; but then my long term intention is to leave nothing to my 3 sons.
My eldest son works for an investment bank, and is in the process of buying a home for £1.30m - he's 34yo. By comparison, I grew up on a Liverpool council estate in the 1960's & 70's, and the home I live in is valued at £750k. I've worked damn hard for my money, and (in life's game of snakes & ladders) I've landed on a couple of snakes in my time, and very few ladders. Twice in the past 30 years I've gone back to the "start" (due to divorce and separation). Even with my choice of career (construction quantity surveyor), I'd be very comfortably off if I'd made a better choice of life's partner.
My middle son, after a stuttering start, is now on his way in his chosen career, and (fingers crossed) he'll be okay without any financial assistance from me.
My youngest son is about to graduate in Mathematics, and has a job offer from an international defence contractor that is over £100k pa (he's 22yo).
So, overall, I don't think my boys will be in need of an inheritance from me - and I'm going to spend it.
I've been reading through a few old blogs, and that of 18th April 2017 is interesting. Theresa May had just announced a General Election for the 8th June, and I speculated that the decision was "brave or stupid - depending on the eventual result". I thought the voting may result in another coalition government, and there was in a way, as it was the Conservatives and the Democratic Unionists of Northern Ireland who formed it.
The following week, on 22nd April 2017, I wrote a 5-year review of the SIPP and concluded that had I placed my entire SIPP into the 3i Group (Investment Trust) which was trading at 215p in August 2012, my SIPP would have had a value of £220,000 in April 2017 instead it was valued at £130,000. With the shareprice of the 3i Group now at 3840 (and it was 775 on 22nd April 2017), had I continued pumping my SIPP funds into 3i and left them there, the SIPP would not have a value of £270,000 but would be well over £1 million, probably closer to £1.20m.
Sometimes, the most simple investment strategies are the ones that work the best.
I've been consolidating the SIPP recently.
I've sold-off my losing speculative investment in Helix Exploration (HEX), to be honest I don't know what I was thinking when I did that and it's cost me about £4,000.
My holding in Palantir (PLTR.US) has been halved to 100 shares, mainly as it's jumping up & down: it's been up nearly 20% and down 5% and it could be up 20% tomorrow or down 20% - it's like watching a roulette wheel.
I've also trimmed HG Capital IT (HGT) as the size of the holding was affecting the overall performance of the SIPP; it's SP is hitting a glass ceiling of 550p.
I've pump the resulting funds into Allianz Technology Trust (ATT) as it holds 40% of it's value in the top-6 US tech companies (Nvidia, Apple, Microsoft, Meta, Alphabet, Amazon) and is currently trading on a 10.50% discount. Has to be a bargain.
No comments:
Post a Comment