04 August 2025 |
3 minutes
Financial planning for empty nesters

Here, Head of Dental at Wesleyan Financial Services, Iain Stevenson, shares three key steps empty nesters can take to reassess financial situations and plan for the next chapter.
With August now upon us, many parents experience the emotional shift of their children preparing to leave home for university or independent living.
This may mean fewer financial responsibilities for things like private education fees, allowing empty nesters the opportunity to gain a fresh perspective on managing money—much like a routine check-up to ensure everything is in good shape. Here are three key steps to take:
Strengthen Your Retirement Plan
Now that your children are more financially independent, it’s time to prioritise your retirement savings. This could take the form of maximising contributions to your pension, considering opening a Personal Pension, or exploring tax-efficient savings options like ISAs.
This may be the perfect time to address any gaps in your retirement planning, especially as you’re likely at your peak earning potential. The earlier you make these adjustments, the more time your money has to grow, giving you greater financial freedom in the future.
Fund New Adventures
With extra disposable income, now’s the perfect time to invest in life experiences. Whether it’s travelling, learning new skills, or pursuing long-awaited hobbies, this phase offers the financial flexibility to explore new passions. Consider using the money previously allocated for education fees or daily expenses to create lasting memories.
Set New Long-Term Goals
Review your long-term financial goals and ensure your strategy is up to date. Whether it’s saving for a holiday home, planning for early retirement, or adjusting your investment portfolio, regular reviews are key to keeping your financial health on track.
The empty nester phase is a golden opportunity to reshape your future. Specialist financial advice can help you optimise your savings and make smart decisions to secure a fulfilling, financially secure next chapter.
The value of investments can go down as well as up and you may get back less than you invest.
By Iain Stevenson
Head of Dental at Wesleyan Financial Services