Article by Naomi Webb
If you’ve done all of the hard work as parents – from dealing with dirty nappies to polishing school shoes and beyond – then you’ve earned yourself a bit of a treat.
Once the kids have flown the nest it might be sad to see their room empty – but it’s also a chance to weigh up your financial priorities again and think about the things you spend your money on.
That does include planning for life beyond work, of course. More than 600,000 people turn 65 each year but one in three over 50s do not feel that they have saved enough to be comfortable when they finish working.
From your 50s on, you really do need to map out a detailed plan for retirement – but that doesn’t need to dominate.
As the data cards below show, home improvements and holidays should be on the radar too. Beware though, even grown-up kids at university might want to tap into the bank of mum and dad. They’ll still need you for a while yet…