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Women face unique challenges in life and in retirement. Whether they’re juggling career and family responsibilities, making a difference in the communities where they live and work—or all of the above—women tend to aim high and deliver. But in doing so, women, as a group, often put the goals and objectives of others before their own needs.
In this video, we walk through the basics of achieving financial well-being as a female transitioning through all stages of life. Key learning objectives include:
As women, we will encounter many of the same worries as men: outliving assets, not saving enough, not investing well enough, needing long-term care, becoming disabled, losing a spouse, or falling victim to a scam. However, the life path, types of careers, patterns of work and experiences of women during their lifetime can make retirement security more elusive. Below is a summary of the top 5 hurdles we face:
Take Charge! The first step is to recognize the unique financial challenges we face and to meet these challenges, we should:
*Source: Social Security Administration: www.ssa.gov/planners/lifeexpectancy.html, accessed January, 2020.
Finding the right advisor and having a financial plan can help prepare women to deal with some of the unexpected challenges we are all likely to face at some point in our lives. Working with a skilled financial advisor who takes the time to get to know you and your financial situation can help:
Establish a financial plan to help you manage your path to retirement