SIPP PROGRESS

Current Value (As at 4th September 2017) = £154,107 including cash
Target for 31st December 2017 = £170,000 (was £153,000)
Value at commencement of this blog on 1st August 2012 = £51,684.02.
Monthly contributions since commencement of blog = 36mths @ £300 plus 24 months @ £750 = £28,800
Capital Growth = £154,107 less (£51,684.02 + £28,800) = £73,623+

Tuesday, 18 April 2017

General Election announced for 8th June 2017

Totally out of the "blue", the Prime Minister has announced a General Election to be held on 8th June.
The effect has been immediate on my SIPP and (to it's detriment) as the £ has risen to US$1.27 - its highest value in months (since October 2016). That has taken nearly 0.80% off the value of the SIPP.
Where it will end up immediately prior to the election is anyone's guess.
The GE puts a huge dilemma on the voting public of Britain.  It was one thing to vote for or against a particular political decision wrapped up in the Referendum but, if you want a "hard" Brexit and you were a Labour voter at the last GE living north of Watford, will you really want to vote Conservative on 8th June?
And if you did vote Conservative at the last election, but voted "Remain" in the Referendum, will you really want to vote for the Conservatives again if - as many will - you live in the South-East of England and you have benefitted from the EU for decades?
This GE is far from simple to predict - despite many thinking it will be a "walkover" for the Conservatives - and I can see there being many surprise results. What I am aware of, from a personal point of view, is that I have not yet met a "Remain" voter who considers that they may change their vote if given the opportunity again, but I have met a few "Leave" voters who would like to reconsider.
Where there is uncertainty, there is opportunity - and that means for the next 6 weeks I will be paying very close attention to my investment portfolio's.  Both my SIPP (which I detail on this blog) and my ISA (which is about half the value of the SIPP and is being managed with the intention of paying off my mortgages in about 8 years time) will be managed with the intention of making the most of the turmoil.
Fair-play to Theresa May for having the audacity to make this decision, which will be considered brave or stupid depending on the result come 9th June.  I (for one) would not have made such a decision if I were in her shoes, as I would have held the office until 2020 and made certain of the Brexit strategy before heading for the polls - and I voted "Remain" in the referendum.
My prediction? I can see another coalition government, one which brings together the Labour, Lib-Dems and the Scottish Nationalists under one leader - unfortunately, that may have to be Jeremy Corbyn.

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