Women usually take the lead in household finances, paying bills and drawing up a budget, but research shows we are still not making big life decisions and are at risk when major midlife changes strike.
If you’re in a longstanding and happy relationship and never run into financial trouble, it can be tempting to leave your finances as they are.
But divorce, widowhood or the responsibility of caring for children and elderly parents can derail your finances when you least expect it. Your 50s, when you’re still likely to be healthy, earning a wage and contributing to a pension, is the crucial decade to make sure you are in charge of your personal finances to ensure you are in a strong place for the decades ahead.
Our checklist, devised with financial planning experts, reveals the seven most important things you should have in place once you hit this milestone age. ‘Women who engage with long term finances feel more resilient, comfortable and in control of their financial future,’ says Claire Trott, of wealth management group St James’s Place.
If you can check off all seven financial accomplishments in the list below, you’ll be far better prepared for anything the future throws at you.
