Retirement Planning for Women

Women have Unique Challenges When It Comes to Retirement Planning

Retirement planning, specifically for women, requires extra effort. There are three significant hurdles that women must overcome when planning for retirement.

  1. Women typically live longer than men. This must be considered when planning for retirement.
  2. Income inequality. Women, on average, are earning less during their time on the job, which increases the importance of retirement planning.
  3. Women often take time away from work to raise families and this also leads to less income over the course of a career.

By understanding these challenges, women can take the necessary steps to prepare themselves financially for retirement. A retirement plan takes these ideas and builds a strategy specific to your needs.

Four Important Aspects of Your Retirement Plan

  1. Pre-retirement Planning: 
    • Before retiring, am I doing everything that’s needed to be able to retire when the time comes?
  2. Retirement Investments:
    • How should my retirement money be invested?
    • Do I need to make any adjustments to my 401(k), 403(b), TSP, IRAs or Roth IRAs? 
  3. Social Security Planning Strategies: 
    • How can I maximize my Social Security Income benefit?
    • What are the important decisions to consider for Social Security?
  4. Health Care Planning in Retirement:
    • Will Medicare be enough?
    • What about long-term care options?

Even though women have unique challenges when it comes to funding retirement plans, there are strategies that can help you work towards overcoming those challenges. It’s important to know what you’re up against and surround yourself with people who are also finding success in these areas.

We are uniquely qualified to help with your retirement plan because:

  • We are women professionals who have extensive experience as financial planners and advisors.  
  • We understand first-hand the unique challenges that women face.
  • We help our clients develop strategies that are specific to their individual needs. 

Do you find yourself asking these questions?

  • How can I feel confident about making smart decisions with my money?
  • How can I make sure that I don't outlive my money? 
  • How can I use my money to create the lifestyle I want, for now and for the future?

If so, we have resources to help! Through our Smart Women~Savvy Money Club, we provide resources, education and tools about financial and lifestyle issues designed to help every woman pursue the lifestyle she desires and deserves.

 

If you have questions about your finances or would like a review of your current portfolio, please schedule a free 30-minute consultation. We’re here to help!