You could find that the financial strain starts to ease considerably once your children have left home and are starting to make their own way in life.
Even if you are still providing them with some financial support, you may be able to free up significant capital by downsizing your home.
Your late 40s and 50s therefore tend to be times when you focus on maximising pension contributions and building up capital through other investments. This wealth-building exercise will often involve the use of investment platforms, sometimes called ‘wraps’. These enable you to control all your investments, including ISAs, self invested personal pensions and collective funds, from one central point, rather than having to deal with a range of providers.Last Updated
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The key stages of financial planning
