3 reasons women aren’t prepared for their retirement years…

November 19th, 2013 No Comments

Women face distinct challenges in retirement years

As more and more women enter retirement years, they are realizing their financial resources are lacking. Typically, women in the work force have earned less than men, and many have moved in and out of the work force over the years, leaving their financial nest egg lacking. Many women fear outliving their savings, regardless of income. Women have higher rates of disability and chronic health issues and are more likely to need long-term elder care as they age.

  • 1. Women typically live longer. Women aged 65 this year can expect to live to age 86, so that’s 20+ years of living off their nest egg.
  • 2. Women have invested too conservatively. Many women haven’t invested as aggressively in the stock market as their male counterparts.
  • 3. Women tend to distrust financial advisers. A senior vice president at E-Trade, Lena Haas, reports that women ranked the financial industry last in a 60-industry list, even below used car salesmen.

Women are encouraged to:

  • have a retirement plan
  • have an estate plan
  • consider long-term care insurance
  • review investment plans
  • attend educational group financial planning sessions
  • educate themselves about various aspects of retirement

For more, read the USA article at http://usat.ly/1cFgimf.

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