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Here’s how much it takes to target a £300k SIPP from zero in 15 years
['Christopher Ruane', 'Min Read']
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And how long it takes to get to that amount depends on what someone puts in and the compound annual growth rate.
Tax relief means that to invest £1,133 a month, the investor does not actually need to put that much into the SIPP.
They can put in just over £906 a month and tax relief will top that up to the desired £1,133.
Here's a share to considerAnd as I said above, I think 5% is a realistic compound annual growth target.
One share I think investors should consider in the current market is FTSE 100 consumer goods company Reckitt Benckiser (LSE: RKT).