Investing in your 50s

Early retirement now becomes a phrase you like the sound of - you might only have 10 years or so left in the job market so make sure you are saving everything you can.

You are now getting closer to your retirement age so it’s important that your investment portfolio is balanced appropriately for this stage in your life. You can’t tolerate as much risk as you could 15-20 years ago so make sure your asset allocation is sensible.

Resist the urge to help your children with house deposits, further education etc if you are not 100% sure you have an adequate pension. Your children can always wait a bit longer to save for a house or they could access student loans - you do not have any extra time to make up for shortfalls in your retirement fund at this stage. If you have been saving for them since they were newborns then you might not need to worry about this anyway!

Top tip for your 50s: Be certain that you are comfortable that you can live on 3-4% of your total pension pot - this might be your last chance to really accelerate your savings.  And make sure you are crystal clear around your retirement numbers - what you need, what you have, what you need to put away to hit your goal.