A shoutout to the ladies starting a new venture later in life

The past decade has seen a surge of women in their 50s and 60s returning to work and embarking on new career paths. Whether this is out of choice or necessity, there’s a host of benefits of continuing work later in life. Adviser Samantha Kaye discusses these advantages, and explains how to make the best use of your income.

Winding down? What’s that? Indeed, many women in their 50s and 60s are busy starting a new chapter in their working lives – the employment rate for women aged 50-64 rose to 68% in 2019, up from 53% in 2000.1 Some are continuing to enjoy their career and see no reason to stop; others are relishing the opportunity to try something different, without the financial pressure of mortgage payments or childcare.

On the flip side, many will be working out of necessity – with issues such as the gender pensions gap and changes to the state pension age meaning many will not have saved enough for their retirement.

But, whether work is a result of choice or necessity, we’re doing ladies a huge disservice if we present the growing number of older women in the workplace as a negative. After all, continuing to earn a salary gives women more financial resilience and independence – and that surely can’t be a bad thing?

There’s a lot to be said for keeping the money coming in as long as you can. The longer you work, the longer you can hold off taking your pension – a deferred pension has more time to potentially grow and, depending on your income, you can also keep making contributions. And, when you do start taking your pension, your savings won’t need to last as long, either. Indeed, you may also find it makes sense to defer your State Pension in return for a higher income later on.

And the benefits of working into later life aren’t just financial. Those who can carry on working often find that the right job – and the social outlet it provides – improves both their physical and their emotional well-being. Colleagues are part of that vital support network I’ve written about previously!

A new chapter

It’s clear that the stereotype of women in their 50s and 60s putting their feet up is quickly becoming outdated! If you’re one of these formidable ladies who’s starting a new chapter in your working life, it makes sense to speak to a financial adviser about retirement planning.

An adviser can help you plan ahead and put your income to the best use to boost your financial well-being, both now and when you do choose to wind down. I’m here to help – contact me today for a no-obligation review!


1 Office for National Statistics, LFS: Employment rate: UK: Female: Aged 50-64: %: SA, April 2021

The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.

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Author: Samantha Kaye
Author: Samantha KayeAdviser

For more information

Wherever you are on your financial journey, it is important that you’re getting the right advice on planning for a secure future.

If you would like more information about my services, please contact me on 01444 849809 or via email at samantha.kaye@sjpp.co.uk.

Author: Samantha Kaye
Author: Samantha KayeAdviser