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'How do I turn my £270,000 pension into £2mn?'

Portfolio Clinic: Our reader has an ambitious target but may be prioritising pension contributions at the expense of his Isa
'How do I turn my £270,000 pension into £2mn?'Published on July 19, 2024
  • Our reader hopes to retire with a £2mn pension and is making substantial contributions
  • He might be setting himself up for future tax issues
  • Are the portfolios too focused on UK stocks?
Reader Portfolio
Ian 35
Description

Pensions, Lifetime Isas, Isas, cash

Objectives
  • Grow investment pot to £2mn in 30 years and retire at 65
  • Support his son through university and provide a substantial inheritance
Portfolio type
Investing for growth

It is hard to predict how much you might need in your pension, but aiming high is always the best way, especially if you can afford to tuck money away while you're earning. Add the right balance of investments, and you can prepare for a comfortable retirement while meeting your day-to-day needs.

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