Research from interactive investor suggests a 20 year starting a pension today would need a £1m pension pot to afford a 'comfortable retirement" - according to Pension and Lifetime Savings Association Standards.I am writing a piece for MoneyWeek looking at this and am keen on tips on how to build a £1m retirement fund if you are in your 20s now. How much should you be contributing to your pension? What other sources of income should you consider?Kind regards, Marc&nbsp;

financial services

How to build a £1m pension pot

More important at this age, is to work on your career, increase your earnings, grow your network, advance in life and have fun. No need to stress about your pension, just 1) make sure you are contributing enough to receive the maximum possible match from your employer and 2) it's invested purely in global equity index funds.   The level of your earnings later in life are the key to reaching the 1m goal. 

Philip Dragoumis

I have worked in financial services for over twenty five years, formerly advising institutions at investment banks such as HSBC and Merrill Lynch, and for the past eight years I have been advising private clients in the UK and internationally.  I am director, owner of Thera Wealth Management and am a CFP professional, as well as having completed a Masters in Finance at London Business School. 

How to build a £1m pension pot

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Philip Dragoumis

Director and Owner at Thera Wealth Management

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