Whilst it's true that the longer you leave sorting our your finances, there may be more planning needed and some opportunities may be more difficult to attain, it is never too late to start a financial plan.
The world of pensions has changed and with the reductions in annual and lifetime allowances being introduced in April 2016, there will be many higher earners who will need to look outside the traditional pension environment when planning their financial security in retirement.
A good financial plan needs to look at everything, not just pensions. It starts with your circumstances, your attitude to risk, your current finances and your needs now, and in the future.
And it shouldn't just look at money; protecting your lifestyle, your family and your assets whist you are alive and for future generations is an important part of a financial plan.
A good adviser will be able to look across the piece; at finances, tax planning and protection, and help to highlight the choices available whatever your age.
Katie Seymour has a good job at a blue-chip accountant in London, an idyllic home in the East Sussex market town of Lewes, a tidy savings nest egg — and a problem. She is 45 and has no long-term financial strategy and minimal pension provision, but wants to secure a comfortable retirement. Has she left it too late, and how can she put together a portfolio almost from scratch?