MIDDLE AGE, OLDER CHILDREN

Continuing high expenditure on maintaining children, but possibly compensated by return to work of the caring parent and higher earnings because of promotion for the other partner.

You may wish to consider the following as preparation for discussing the matter with your financial adviser:

1. Saving/investing may be made easier by the greater availablity of unallocated income. This could also mean maximising pension planning.

2. Care for older relatives may become a factor.

3. Protection of both cash lump sums and income remains high priority, even more so the older one becomes.

4. Policies written in trust should be considered for inheritance tax considerations, this should really have been done before.

5. Trusts and wills should be reviewed.

6. School fees may need to be topped up, and university/college expense needs to be catered for.

7. The possibility of redundancy should not be overlooked.

   

REMEMBER You should not use any information contained on this page as the basis of any action until you have discussed matters with your financial adviser.