While my career has given me countless proud moments, nothing compares to becoming a father to my two daughters. But alongside the overwhelming joy came something unexpected: a new kind of nervousness I’d never experienced in my professional life. Why was I suddenly anxious when I’d navigated market volatility without breaking a sweat?
The unknown: a parent’s greatest fear
It wasn’t the sleepless nights or nappy changes that worried me. It was the questions that kept me awake. Would I be a good father? Could I provide the security my family deserved? What about the challenges I couldn’t predict or control?
As a financial adviser, I’ve guided clients through uncertainty for years. Now facing my own parental anxieties, I turned to what I know best: creating family financial security.
Luckily, Mattioli Woods provides me with generous death-in-service and income protection benefits, offering essential security for my family. Protecting family should be a priority for everyone and a foundation of financial planning.
It’s worth looking to your employer to see if there are any benefits you’re not utilising – or whether you can increase those that you are.
Building their tomorrow, starting today
With immediate protection in place, I looked towards building their future. Junior Individual Savings Accounts (JISAs) became my vehicle of choice, allowing investments of up to £9,000 annually until they turn 18.
The maths is compelling: investing just £190 each month per child (about a quarter of the maximum) with a 5% return* after charges could generate a tax-free nest egg of approximately £66,350 for each daughter until they turn 18.
For longer horizons, I established childhood pensions, securing basic tax relief and planting seeds for their distant retirement.
And then there’s the wedding fund, a terrifying but necessary consideration for any father of daughters! The cost of the average UK wedding now exceeds £25,0001, with wedding rings and honeymoons easily pushing that to £30,000; so I knew I needed a plan that wouldn’t derail my own retirement dreams.
By investing £85 per month for each daughter until age 24 (assuming they’ll finish university before tying the knot), they could each have a wedding fund of around £47,160 with a 5% return* after charges – enough for a good wedding, even when accounting for inflation.
These steps didn’t just ease my financial worries, they earned considerable appreciation from my wife!
Your family’s financial timeline starts now
With the new tax year still fresh, this is the perfect moment to review your family’s financial roadmap. These childhood savings plans remain one of the most tax-efficient savings vehicles, with the 2025/26 Junior ISA allowance remaining at a generous £9,000 per child.
The magic of early planning cannot be overstated. Even modest contributions of £100 monthly from birth could bloom into over £34,900 by age 18 (assuming 5% growth)*. The compound interest effect is truly a parent’s best financially.
Consider balancing immediate and long-term needs in your planning approach:
- Junior ISAs provide accessible funds at age 18
- childhood pensions offer growth potential with tax benefits, though with later access
From financial planning to peace of mind
Creating financial security for your children doesn’t require financial genius, just foresight, consistency, and starting early. Whether you’re expecting your first child or already navigating the parenting journey, the financial foundations you build today will support their dreams tomorrow.
If you’re ready to create your family’s financial blueprint, our financial planning team is here to help tailor solutions to your unique family circumstances and goals. Contact us today to book your complimentary call with a financial consultant and start securing a better future for those who matter most.
Book your family financial planning session here.
This article has been produced for information purposes only. With investments, your capital may be at risk and past performance is not a guide to future returns. There are no guarantees and your investments can go down as well as up. ISA rules apply and may change. Mattioli Woods Limited is authorised and regulated by the Financial Conduct Authority.
*All figures provided are for illustration purposes only. Capital is at risk.
Content correct at the time of writing.
1 https://www.compareweddinginsurance.org.uk/blog/average-cost-uk-wedding.php
