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Having a child

Important information - please keep in mind that the value of investments can go down as well as up, so you may get back less than you invest. Tax treatment depends on individual circumstances and all tax rules may change in the future. Withdrawals from a Junior ISA will not be possible until the child reaches age 18. You can't normally access money in a pension until age 55 (57 from 2028). This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity's advisers or an authorised financial adviser of your choice.

" There’s so much to juggle when having children. Being a working mum with a toddler is tough and inevitably sacrifices are made, but it’s all about balance."

Kristina Gorur, Head of Social Media, UK Marketing

Know what you're up against

Inevitably, becoming a mother does affect a woman’s career. Research shows1 that women are more likely to reduce their working hours after becoming a parent.

And if this is a path that you’ve taken, it may affect how quickly you make the jump to your dream job. One study found that 26% of men versus 13% of women were promoted or upgraded their jobs within five years of having a child1. The greatest impact is if a gap of two years or more is taken. That’s why it’s important to make informed and achievable choices about your career and family life.

Ensuring a good work life balance is key to balancing motherhood and work. To achieve this, you might want to ask your employer if you can switch to part-time working hours or request flexible working hours. You may also be able to go freelance. But this balance can often come at a cost - to both your finances and your career progression.

If you do decide to go back to work full time, you’ll have to research what childcare arrangement will accommodate your working hours.


1. NCT - March 2022

Take control

Taking care of your finances is especially important when you have a child. Here are some tips to consider:

  • Don’t forget your pension. Ensure you contribute a regular sum to your workplace pension if you have one. You can also consider opening a SIPP as it may give you a different range of investments to choose from.
  • You can open a  Junior ISA to give your child a financial head-start for when they turn 18.
  • Don’t forget to have a rainy-day fund. This is around three to six months’ worth of your monthly salary. It’s great for any unexpected emergencies.
  • It’s important to enjoy life too. You can also create a dedicated ‘fun pot’ for family holidays or any hobbies you enjoy.
  • If you've got any money left over, why not get it working harder for you? A stocks and shares ISA can help you save for the long term. But you can also access your money if you absolutely need to. Find out more about a stocks and shares ISA.
  • And let's not forget, kids grow up... fast. It's never too early to plan for their future. Here's a useful section about planning for your child's potential university education.

What you could do next

Start saving for your child’s future

Save money for your child, free from income tax or capital gains tax on any returns.

Start a tax efficient savings account

Invest in a Stocks and Shares ISA and pay no income tax or capital gains tax on your returns.

Start looking after future you, today

Take control of your retirement savings and get your money working harder with the Fidelity SIPP.