According to WISER, The Women’s Institute for a Secure Retirement, half of women over 25 say they have trouble saving for retirement.
When planning for retirement, we don’t want to “fall short.” To make sure, we must account for a multitude of factors:
1. How much income do I need?
2. How long will I need the income?
3. What will inflation be?
4. Can I even money leave for beneficiaries?
Part of this problem is the men. Yes, guys, I get it, your spouse says she doesn’t want to know all of the details, but you still have to be ultra-organized in case you pass away. Are all of the Financial and Estate Planning documents organized? Can your Power of Attorney for Financial pick up your files and take care of your affairs with zero hassle? Plus, you want to avoid the “Widow’s Penalty”.
Let’s take a closer look from the results of WISER.
These are very real fears women have for actually getting to retirement, let alone being able to live comfortably and enjoy life.
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P.S.Major money moves are rarely simple choices. But we believe the sooner you find a wealth advisor and an investment strategy that makes you feel confident about the future, the better. If you would like to reach for a consultation please email us at info@commonfinancialsense.com
Until Next Time…
References:
The Women’s Institute for s Secure Retirement (WISER) is a nonprofit organization whose goal is to help women better understand the unique challenges they face planning for retirement and provide the information, tools and resources needed to help them build a stronger financial future. We do this through our publications, programs, and workshops. WISER’s resources cover a range of financial topics: Saving & Investing, Social Security, Retirement Planning, Caregiving, Divorce, Widowhood, Healthcare, and Financial Fraud & Scams.
