Your Financial Roadmap

As a woman, where should you be with your financial planning?

We all have different lives with pressures and demands from  all manner of things.

While it is tempting to bury your head in the sand or adopt a ‘mañana’ approach to your finances, even the smallest of starts can begin to have a great affect later in your life.

Below is a simple roadmap I have put together for where you should be aiming to be at on your life journey. If you aren’t there yet – don’t panic, the important thing is that at least you are reading this and you at know you should be doing ‘something’.

Becoming an Adult, Starting Out in Life.


52% of women in their late 20’s say they do not understand enough to make decisions about retirement savings.


Only 8% of women rated contributing to a pension as their highest priority when they first started work.


Among young people in debt only 37% have a repayment plan in place.

womens finances 25-35 years old

Where you might be in life at the moment:

After years of being told what to do this is the most exciting stage of your life, with so many choices and your first taste of independence. You will be possibly starting, or finishing university, doing an apprenticeship, further education, or entering the workplace to gain the skills needed for your chosen career.

You start to save for your retirement by joining your employers pension scheme.

You may have started to acquire your first debts such as student loans, car purchase or credit cards.

Surplus income tends to go on holidays, going out, shopping and beauty.

You may be starting to save for major “life events” such as buying your first home, getting married or having children.

You start to accrue National Insurance contributions to go towards your state pension entitlement.

What you should be thinking about:

  • Paying into a pension.
  • Expression of wish forms are in place for your pension and any death in service benefits.
  • Have an emergency fund 3-6 months of expenditure.
  • Budgeting to make sure your money goes further and you can start to save.
  • Have a plan to pay any debts off.
  • Familiarise yourself with your employer’s benefits including sick pay.
  • Continue to invest in yourself by keeping your skills and qualifications up to date.

Relationship, Motherhood, Working and Juggling the Finances.


Following the introduction of child benefit tax in 2017 – ½ million women opted out of remaining in the National Insurance system therefore losing out on contributions towards their state pension. Many women are missing out by not registering at all.


55% of women age 30-49 have not thought about how they will pay for their long term care.

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Average Savings at 35

Women in their 30’s have an average of £1,000 in savings reducing dependent on the amount of children to £100-£200 for a women with 3-4 children.


60% of women don’t know they should update their pension records after a relationship ends.


71% of divorced people did not discuss their pensions during divorce proceedings.

womens finances 35-45 years old

Where you might be in life:

As you start to gain further independence you may choose to rent a home, house share or embark on sharing your life with that special person. Life choices seem rational and any perils or pitfalls of your choices are dismissed in favour of what seems right at the time.

You may decide to make one of the biggest financial decisions of your life, to buy your own home and for some to start a family.

Juggling being a Mum becomes hard work with little time for anything else.

The family budget can be harder to manage with less available surplus income for luxuries, especially if there is just one income coming into the family home.

Contributions into your pension may reduce, or stop if you cease work.

Sadly, you may experience a relationship break up with major financial impacts.

What you should be thinking about:

  • Ensuring you have insurance in place to protect any income and liabilities in the event of a serious illness or death.
  • Make arrangements to pay personal contributions into a pension plans if employer ones have ceased.
  • Emergency fund of at least 3-6 months of your normal required expenditure to cover illness or unemployment.
  • Keeping debts under control and mindful of any potential interest rate rises in relation to mortgage lending and student loans.
  • Continue to familiarise yourself with your currents employer’s benefits especially any death and sick pay provisions.
  • Check out any employer flexible benefits or salary sacrifice arrangements.
  • How financially resilient would you be if you had to manage on your own?
  • Make sure wills and power of attorneys are in place and up to date.

Retirement Thoughts Start to Emerge
and Children Start to Leave the Nest.


70% of women say they have no idea what pension savings they have.


75% of women say they don’t plan to see a professional financial adviser about retirement because they don’t think they will have enough money saved.


1 in 3 women in their late 50’s are caring for an elderly relative.

womens finances 45-55 years old

Where you might be in life at the moment:

Where did the time go? After what for most of us has been a lifetime of day to day juggling with very little time to deal with anything else except family and work.

Children will hopefully left home but not before raiding the bank of “Mum and Dad” on their way out of the door.

You now start to look towards your retirement and start to plan when you will retire and what provisions you have to meet this.

Elderly relative’s health starts to fail and time given to care for your children turns to caring for the older generation.

You may have had health problems, or they start to appear and “it won’t happen to me” becomes a little less certain.

Sadly, long term relationships may end as “silver splitters” go their separate ways. Pensions, assets, and savings are split and the comfortable retirement you were hoping for suddenly disappears. You realise you are on your own, for some managing your own finances for the first time in your life.

What you should be thinking about:

  • In depth planning for retirement.
  • Getting and up to date state pension forecast to help with planning and address any shortfalls.
  • Review insurances to make sure they reflect your current needs.
  • Ensure all expression of wish forms are up to date especially after any relationship breakup.
  • Repaying any debts.
  • Review employer benefits and what would be lost on retirement.
  • How financially resilient would you be if you lost your partner/spouse, or one of you suffered a serious illness or needed long term care?
  • Make sure wills and power of attorneys are up to date and family are aware of them.

Retirement and Beyond...


Only 10% of women are ‘very familiar’ with the pensions freedoms.


20% of women have not heard of pension freedoms at all.

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Cost of care 10% of women can expect to pay in old age.

1 in 10 of Women can expect to pay on average £113,000 to care for themselves during retirement.

womens finances 65 and beyond

Where you might be in life:

You’ve made it! This is hopefully a time to look forward to and you get to enjoy the things you want to do.

You may choose to phase your retirement or fully retire.

Whether you decide to have a gap year, spend time with the family and grandchildren, or take up some new hobbies, your standard of living will be reflected by the amount of pension provision you have, including receiving your state pension.

Thoughts of your own mortality and your ability to cope with ageing start to creep in. Who will care for you? How much will it cost? Will I get to stay in my own home?

What you should be thinking about:

  • Ensure your pensions are arranged to provide you with the income and capital needed in retirement for the long term.
  • Are your investments and savings suitable, tax efficient and meet your appetite for risk?
  • Will you be financially resilient if your spouse/partner suffered a serious illness, needs long term care or worse if they died?
  • Review inheritance tax planning.
  • Review insurances to ensure they still meet initial aims.
  • How liabilities are going to be repaid beyond retirement?
  • What long term care provisions may you need?
  • Make sure wills and power of attorneys are in place and family are aware of them.

Are you interested in finding out more? The information used above comes from an excellent publication by Jane Portas on the Insuring Women’s Futures website.

Your financial future roadmap.

Find out if you’re on the path to financial security with my easy to understand Financial Future Guide.

Attend one of my events.

I regularly host events for women who want to know more about becoming financially secure.

Book a free session with me.

Are you ready to start taking care of your money? Click below to book a session with me.

Your financial future roadmap.

Find out if you’re on the path to financial security with my easy to understand Financial Future Guide.

Attend one of my events.

I regularly host events for womenwho want to know more about becoming financially secure.

Book a free session with me.

Are you readyto start taking care of your money?Click below to book a session.