Life Events That Shape Women's Wealth and How to Plan for Them - Summer Reset Series

Her husband was the main breadwinner. He walked out on the Friday. By Monday she was staring at the bank accounts thinking, what do I do now? That happened to a client the week this episode was recorded.

This is episode 5 of our Summer Reset, the 6-part summer series where Rebecca is joined by her Evolution Financial Planning colleagues Katie, Client Manager and Protection Adviser, and Carol Wright, Independent Financial Adviser and Money Coach.

Career breaks, motherhood, divorce, caregiving, bereavement, menopause. These events are rarely in the plan, and they are often the very things that make the biggest dent in women's wealth.

In this episode:

• The practical first steps when a relationship ends suddenly, starting with an account in your own name
• Why splitting bills 50/50 doesn't work when one partner earns considerably more
• What happens to maintenance when a child turns 18, and why so many mums aren't ready for it
• Motherhood, career breaks and how the wealth gap quietly compounds
• Why surplus income in the full-earning years buys you choices later
• Financial coercion: the red flags and where to find proper support
• The financial date night, and keeping money conversations regular rather than confrontational
• The £2,880 pension contribution for non-earners, topped up to £3,600 by tax relief
• Caring for elderly parents, wills, powers of attorney and the April 2027 inheritance tax changes
• Rebuilding afterwards, and the clients living on their own terms with a pension in their own name

Timestamps:

00:00 Cold open and welcome 01:34 The life events that shape women's finances 02:47 When the breadwinner walks out: what to do first 04:08 Divorce, settlements and what 50/50 really means 05:31 Maintenance, and the cliff edge at 18 09:18 Motherhood, career breaks and the wealth gap 14:35 Using surplus income while you have it 17:17 Financial coercion and where to get help 17:39 The financial date night 20:06 The £2,880 pension rule for non-earners 21:40 Caring for parents, inheritance tax and powers of attorney 24:03 Rebuilding after divorce

If anything in this episode resonates and you need support, Surviving Economic Abuse has excellent guidance: survivingeconomicabuse.org

Want to know where you stand with your finances? Take our free Financial Wellbeing Quiz. It asks 12 yes or no questions and takes less than 2 minutes: https://allmylink.me/YtLK

Watch and listen:

YouTube: https://www.youtube.com/@rebeccarobertsonifa Spotify: Listen on Spotify Apple: Listen on Apple Podcasts

Next week is the final episode of the Summer Reset: breaking money taboos, the conversations women need to have.