I'm 49 - here's how I'm aiming for a £1m pension pot by the time I retire

Sam Smith, 49, believes he is on track to have £1m in pensions by the time he retires. The father of one would like to retire before he is eligible to receive a state pension but is not certain this will happen.

Sam has had multiple jobs over the years and has had many pension pots, which he has now combined into one £200,000 pot.

He started his career as a graphic designer at a financial institution, earning £16,000 a year. Sam said the small sum he had in a pension with the institution was refunded to him in cash when he left to start a new career. “I hadn’t contributed for long enough to mandate it being stored as a pension”, Sam told The i Paper.

The world feels like a difficult place at the moment, and it can feel very hard sometimes to find things to be thankful for; when we are overwhelmed, we have less capacity to notice and reflect on the good things. Yet, ironically, proactively cultivating gratitude is one of the things that can actually help us feel less stressed.

Instead of seeing something as a problem, try to see the opportunities within it. 

Our brains are very receptive and what we read or write can alter our emotional system.

This will not only make you feel good, but you will also get a positive response from others.

Throughout your day, try to notice all the things that are going well; has someone opened a door for you, or smiled?

By being thankful for the small things every day, we are far more likely to be and stay healthy so that we can enjoy them.

Leon Poultney, a writer who specialises in cars, gives his EV recommendations, and the ones that should be avoided.

Starts at £22,995 for the smaller battery

Available with either a 40kWh battery or a larger 52kWh pack, that offers almost 255 miles, the latest, retro-inspired Renault 5 is both a joy to behold and a hoot to drive.

The interior has been lavished with a level of detail that’s typically reserved for more expensive cars. 

It offers a remarkable 491 mile range on a single charge from the 85kWh battery.

It is a technological masterclass inside with the ability to option screens that span the entire width of the dashboard, including an optional display for the front passenger.

Priced from £37,400

It’s a lot of money to part with, but this is arguably all the car you will ever need.

The £89,000 Macan is a premium SUV that somehow manages to blend Porsche’s reputation for dynamics and sporty driving with everyday practicality.

The 95kWh batteries can go from 10 to 80 per cent in as little as 21 minutes from the fastest public charging outlets.

With the business class-style six seat configuration costing a staggering £76,995, it is by far the most expensive Kia ever made, but it backs up its financial demands with a suite of genuinely useful and impressive onboard technology.

MG IM6

It’s fast, goes a long way between stops and charges relatively quickly but the interior is bland, the onboard technology is infuriating and the experience is devoid of emotion. 

All of its gadgetry can’t disguise the fact that performance is weak, even for a typically zippy EV, the ride is fussy at slower speeds and it’s not in the least bit enjoyable to drive on a country road.

It’s comfortable to hold, with a point sharp enough for scoring pastry.

For unbeatable searing and heat-retention, cast iron is the top choice. 

Priced at just £22, I’ve yet to find another board that matches it for sheer value and quality.

Pyrex jug

It is the perfect vessel for blending smooth sauces, melting butter, or warming stock. It won’t stain like plastic and the red measurements never fade.

Salter scales

“I’ve had my slim little set of Salter Disc Scales for over a decade, and I’m delighted to see they are still made to exactly the same reliable design today.”

It uses photo-etched stainless steel teeth that stay razor-sharp for a decade, something the lookalike copycats simply can’t match. 

It’s an essential for everything from making velvety soup to getting the lumps out of white sauce. 

As well as delivering great results, cafetieres are easy to clean and there’s no ongoing filter paper costs or pod recycling to deal with.

Oxo peeler

What truly sets it apart is the chunky, rubberised handle that absorbs pressure and stays completely non-slip, even if your hands are wet. It is inexpensive and incredibly durable.

Falcon pie dish

Made by fusing porcelain onto heavy-gauge steel for smooth durability, it is dishwasher, freezer, hob, air-fryer and oven-safe. 

Psychiatrist and neuroscientist Dr Amir Levine, author of bestselling book Attached, explains why we behave the way we do in love.

Start with your own behaviours

The foundation of a secure, connected life is being what I call CARRP: that means being consistent, available, responsive, reliable and predictable. All of these qualities can be enacted in small gestures every day.

Express your needs

People need consistency and connection to feel safe. This is not, ‘You hurt my feelings by never replying to me’, it’s more ‘this is the kind of contact that helps me feel secure’.

If a relationship repeatedly inflames your nervous system, you need to disengage and deprioritise it.

You don’t need hundreds of friends. You need people and places that regularly remind you that you belong. 

Humans are much more complicated than: ‘this happened to you, therefore you are doomed to be anxious’.

When something unsettles you in a relationship, your first reaction is not always the most accurate one. 

If you’re anxious, your brain may jump very quickly to: ‘this is the beginning of the end’. If you’re avoidant, your brain may say: ‘this person wants too much from me, I need to get away’. So one very practical thing you can always do is pause and ask: ‘What would a secure person do here?’

When people talk about loneliness, they often assume it means you don’t have enough people in your life. But you can be surrounded by people and still feel lonely if those relationships leave you feeling excluded, ignored or disconnected.

A bowl of cereal and glass of orange juice

More refined cereals are digested quickly, and fruit juice, whilst one of your five-a-day, contains less fibre than whole fruit. This might mean you find yourself hungry again within 1-2 hours of eating this breakfast.

Swap the orange juice for a whole orange, the cereal for oats and milk or serve it with Greek yoghurt or a boiled egg. This would increase the fibre and protein content; two nutrients strongly linked with fullness.

These pastries are made primarily from refined flour and butter, and are relatively low in protein and fibre.

It is mostly carbohydrate and without protein or fibre, it is digested quickly, leaving you feeling hungry.

Shop-bought packs can contain a lot of white rice, which is digested quickly, and the protein content is often modest.

On its own, it is often very low in protein and calories, so hunger can return quickly.

Unless it’s loaded with veggies, it’s probably pretty low in fibre.

Liquids are generally less filling as they require little chewing which may not trigger satiety signals.

They are ideal for a quick pick-me-up, but if reducing hunger is what you’re after, it’d be better to swap it out.

A full-fat plain Greek yoghurt with berries and seeds tends to be much more filling due to the protein, fat and fibre.

On an empty stomach, it can actually increase your appetite.

Will Harlow, a physiotherapist
for the over-50s and author of Independence for Life, shares
the key signs you’re ageing
badly – and what to do about it.

Ageing well is maintaining the ability to do what you want you want for as long as you want without needing help. Everyone is talking about longevity but what’s the point in living longer if the last decade is painful and you’re [totally] reliant on people?”

When people retire, they often put their feet up and stop. Your body really is use it or lose it.

Throughout our entire lives, Harlow says we need between seven and nine hours of sleep.

The lack of connection can increase the risk of premature death by
as much as 29 per cent.

It really is the proxy for
overall independence.

The more muscle mass you have, the less chance of heart disease, diabetes, falls and even anxiety, depression and dementia. 

The brain can be linked to muscle mass too, Harlow says. It’s not just about being able to lift things. It gives you more energy, better sleep and you’ll look and feel better.

Do short bursts of exercise, between 30 and 60 seconds, in otherwise dead time during the day.

Take joints through a full range of motion for five minutes to loosen it before getting up.

It can increase the decline of muscle mass and bone density, which needs to be avoided. 

Harlow advises 1.6 grams per kilogram of body weight to stop muscle loss alongside resistance training.

Harlow finds that many patients put off making a change to their lifestyle until their lives are consumed by pain. 

For most people, it’s about reducing the number of times per week you’re exercising, not reducing intensity. 

But you should be prepared to keep an open mind.

We’ve compiled the sectors hiring graduate roles, what degree is required, and what they pay.

of employers offered entry-level
positions from July.

That is up nearly 15 per cent from the same period last year.

But graduate unemployment rose to six per cent in 2025 and 700,000 jobless graduates were claiming benefits.

Portman graduates start on £36,000 for the two-year programme and the education you need to apply is a minimum “ABB” of A-levels, and a 2:1 or above university degree. But not in a specific subject.

What makes it particularly rewarding is that there’s always something to learn.

Nearly half (47 per cent) of trade and logistics companies will be giving graduates a go this year.

Salaries start at £30,000 with an uncapped bonus, rising to £50,000 plus a company car as a senior account partner.

More than half (52 per cent) of UK tech and IT firms are actively looking for graduates. 

Successful entry-level candidates can earn a basic salary of up to £35,000, with the opportunity to triple that within their first three years of working.

46 per cent of public sector, health and social services organisations are also ready to take graduates, according to a survey by Manpower. 

According to Waitrose, a dinner party revival is underway led by younger people trying to reduce the cost of getting together.

The i Paper food writer Sophie Morris [below] asks chefs for their best ideas for hosting at home.

People will feast on the
bread, and then need less fish/steak/expensive whatever. All small plates restaurants know this: this is why the first thing on the menu is always artisan bread and butter.

Chef and food writer Helen Graham turns vegetables into centrepieces to cut down on meat and fish expenses.

Graham’s recipes include a braised cabbage with a preserved lemon sauce, a roast cauliflower with saffron, and harrisa roast carrots with mango labneh.

Guests will always appreciate a stellar interpretation of the ordinary. Think lasagna or curry.

Cooking dinner for your guests is spoiling them – you’re being generous with your time, your effort, and your home. So don’t feel the need to go overboard elsewhere.

Ask friends to bring a contribution, be it a nibble or a pudding.

[Presentation] can be the key to elevating something . Spaghetti and tomato sauce suddenly looks like a feast when tumbled on a lovely big plate, dressed with olive oil and parmesan and placed in the middle of the table.

Have one expensive filling, like shredded chicken, and two cheaper options, like refried beans, says Ella Risbridger.

Shop-bought ice cream is so easily zhuzhed up with the help of handy toppings, says Eleanor Steafel.

After spending nights and weekends learning new skills, Sam switched careers to become a software engineer in 2001.

Sam left the firm where he worked as a software engineer to set up and run his own business designing websites and providing digital services. Via the business, he typically took a salary and dividends totalling £100,000 annually.

While running his business, Sam set up a stakeholder pension in 2004. A stakeholder pension is a type of defined contribution pension, which has a retirement value based on the amount paid in and how the investments perform over time.

Sam said: “I only made contributions of £100 a month to the stakeholder pension. Retirement seemed like a long way off and while I knew I should be saving and making provisions, it was hard to compromise in the moment for the long-term.”

Sam added money to his stakeholder pension for more than 20 years and its value is now around £60,000.

Sam ran his business for more than a decade before winding it down in 2013 when he divorced. He said: “I had a lot of savings when I divorced, so I used them to buy a four-bed, semi-detached house. My mortgage is £2,100 a month and I will pay it off before I retire.”

Sam has also worked as a visiting lecturer for a local college, teaching multimedia design. As a result, he contributed to a Scottish teachers’ pension for a number of years.

In the interim, Sam worked as a designer or developer contractor for firms like Amazon and institutions like the NHS and universities. He typically earned £110,000 a year and always contributed to the available pension schemes.

Sam now works as a digital services user experience director for a large financial institution in the UK. He manages teams of software designers and developers building new customer tools like apps and websites and, before tax and pension deductions, earns £145,000 a year.

This is before bonuses and share options are factored in. He adds 6 per cent of his monthly pay to his workplace pension, while his employer contributes 15 per cent. After less than a year, his pension pot with the business is £24,000.

He said: “If I stay in my current role, at my current salary, the mandated projections place this pension pot as being worth between £430,000 to £780,000 at state retirement age, in 18 years.”

Sam recently consolidated all his previous pensions via the Penny app, including his stakeholder pension.

He said: “The 12 pensions I consolidated with Penny are worth around £200,000 in total and will continue to accrue value. The consolidation process has generally been straightforward, but not in all cases. I’ve had to raise a complaint with one provider. As I get older, I will reduce the risk profile in my pension portfolio to achieve more stable returns ahead of divestment.

“Taken together, my estimate is that I will be within touching distance of £1m in pensions at retirement age, assuming I remain in my current role, which is unlikely. I think £1m in pensions would give me a comfortable retirement, particularly if my mortgage is paid off.”

Despite having a healthy amount of money tied up in pensions, Sam wished he had saved more in them when he was younger. “Even £20 a month extra would have helped”, he said.

Sam would like to retire early but cannot see himself doing this much earlier than when he reaches state pension age.

Sam added: “Could I survive on the state pension alone? Absolutely not. I can’t imagine how anyone can. It’s nowhere near enough. I think we spent decades undervaluing our pensioners, and the triple lock was designed to help ensure that this was resolved.”

Will Lenehan, a director at Chartered Financial Planner at Life Plan Partners, told The i Paper: “Focusing on your pension early in your career can make an enormous difference to the retirement you achieve. The earlier you start, the longer your money has to benefit from investment growth and compounding, alongside employer contributions and pension tax relief.”