I’d invest £240 a month in a SIPP and aim for £10m at retirement!

Oct. 3, 2024 - Motley Fool UK

My own SIPP will probably never reach £10m, but my daughter’s might. So, how can £240 a month turn into a £10m retirement portfolio? So, we simply contribute £240 every month to her SIPP, and this is automatically topped up — with some delay — by the government’s tax relief.

So, let’s assume I target and achieve 10% annualised growth for my daughter’s SIPP. So, why was my first investment Scottish Mortgage?..