Feel clear. Feel confident. Take control of your future.
Retirement planning isn’t just about the numbers—it’s about preparing for the life you want. Women often face unique challenges: lower lifetime earnings, career breaks, longer life expectancy, and less time to recover from setbacks.
This guide breaks it down by age group so you can build your confidence, protect your future, and take action—no matter where you’re starting from.
In Your 20s: Laying the Foundation
Now is the time to start—even small steps make a big difference later.
- Start saving—even £50–£200/month builds momentum
- Open a pension plan and set up automatic contributions
- Maximise employer pension contributions (matching is free money!)
- Choose growth-focused investments like index funds or equities
- Focus on career progression to boost future earning potential
- Begin picturing your ideal retirement lifestyle—your goals will guide your plan
My Top Tip for Your 20s: Many women begin their financial journey carrying debt or uncertainty. Don’t wait for the perfect moment—just start. Building good habits early will make all the difference.
In Your 30s: Build and Balance
This is often a decade of juggling—careers, children, mortgages—but it’s also a key opportunity to grow your wealth.
- Increase contributions to 15–20% of your income where possible
- Diversify your investments across stocks, bonds and property
- Use retirement calculators to estimate your future income needs
- Review life, disability and income protection insurance
- Plan for potential career breaks, part-time work, or caregiving responsibilities
My Top Tip for Your 30s: It’s easy to put off retirement savings during this busy stage, but it’s vital to keep building. Even small increases to your contributions can have a big long-term impact.
In Your 40s: Define and Refine
With retirement on the horizon, now’s the time to sharpen your focus and reduce uncertainty.
- Refine your retirement goals—what do you want to afford and when?
- Speak with a financial planner to review your long-term strategy
- Begin shifting investments towards a more balanced risk profile
- Research expected healthcare and long-term care costs
- Explore catch-up contributions (available from age 50 in many systems)
My Top Tip for Your 40s: This is the decade when panic often sets in—but it’s also the time when action counts most. Don’t let overwhelm stop you. Prioritise your goals and take one step at a time.
In Your 50s and Beyond: Prepare and Protect
This stage is about confidence, clarity and knowing your numbers.
- Build a detailed retirement budget (income vs. expected expenses)
- Finalise your plan for when and how to access your pensions
- Shift most of your investments toward safer, income-generating assets
- Consider long-term care insurance or set aside savings for it
- Clear high-interest debt and large one-off expenses
- Update your will, beneficiaries and estate plans
My Top Tip for Your 50s: Even if things haven’t gone to plan, it’s never too late to take control. You may need to make tough choices, but you still have options—and support.
Catching Up Later in Life: You Still Have Time
If you feel behind on retirement savings, you’re not alone—and there are steps you can take now.
- Make the most of catch-up contributions (available from age 50)
- Boost savings aggressively where possible, even for a few years
- Reassess your planned retirement age—it’s OK to aim for later
- Downsize or adjust lifestyle expectations to close the gap
- Maximise pension entitlements, especially after divorce or career gaps
- Explore part-time work, passive income or phased retirement options
My Top Tip for Catching Up: Many women only start thinking about retirement seriously in their 50s or 60s. It’s never too late to get informed and take action. Every step you take now improves your future options.
Read my article: It’s Never Too Later: How Women Can Catch Up with Their Retirement Savings Later in Life
Always Important
- Keep 6–12 months of expenses in an emergency fund
- Review your plan after major life changes (job, illness, divorce)
- Stay up to date on tax and pension rules, especially if you’ve lived in multiple countries
Wherever you are in your journey, the most important step is the next one.
This checklist is here to help you feel clear, focused and empowered—so you can face retirement with confidence and independence.
DOWNLOAD MY RETIREMENT PLANNING CHECKLIST FOR WOMEN HERE https://www.lyndacalver.com/wp-content/uploads/2025/07/A-Retirement-Planning-Checklist-for-Women.pdf
