Women tend to pay less attention to their retirement planning once children come along. Many mothers choose to stay at home while the children are young. Some reenter the workforce once the kids are in school and others don’t go back to work. Some women had started 401K at work prior to staying at home, [...]
It’s not a good idea to carry a mortgage into retirement
Many baby boomers are choosing to work a few years longer than the previously planned retirement age. There are a few advantages of that. First of all, you keep contributing to your 401K or IRA which helps building or recovering some of the losses you had in the past few years. Second, with a steady [...]
Stay at one workplace long enough to receive retirement benefits
Sometimes you might need to stay at one workplace long enough to receive retirement benefits. In some companies, you may have to work for 5 years to become eligible to receive retirement benefits. Employers now do offer retirement plans such as 401K when you first take the job as part of incentives. The problems that [...]
Does your employer offer a retirement plan?
If your employer offers a retirement plan, join it as soon as you can and contribute as much as the plan allows. People tend to distrust the stock and mutual funds during bad economical times. But the best time to invest is in bad economy and when the stocks are low. Even in a time [...]
Retirement investing requires discipline
When it comes to retirement investing, it’s not about how much you put in once in awhile, it’s all about saving a set amount constantly and regularly. When you decide on your monthly contribution amount, set it at a level that you comfortable. Don’t try to put in so much in the beginning and stop [...]
Women usually invest more conservatively than men
If you find yourself choosing more conservative ways of putting your retirement, you’re not alone. Women usually invest more conservatively than men. There’s nothing wrong with that. The rule is to start early and invest regularly. Choose carefully where you put your money and learn how to make your investments grow. The simplest retirement investing [...]
Women can expect to live another 20 years in retirement
On average, a female retiring at age 65 can expect to live another 19 to 20 years. That’s at least 3 years longer than men who retire at the same age. Which makes it more important to plan retirement early and start saving early. Savings can increase your chances of having enough money to last [...]
Few women participate in employer sponsored retirement plans
There are roughly 62 million wage and salaried women between the age 21 and 64 who are working in the United States. However, even before the economic trouble and high unemployment, only45 percent of the employed women participated in a retirement plan. Many people don’t realize the importance of compounding which simply means the earlier [...]
Women are more likely to work in part-time jobs that don’t qualify for a retirement plan
Because women are more likely than men to interrupt their careers to start a family and to take care of aging family members, they are often more likely to work in part-time jobs. As a result, these part-time jobs don’t qualify for a retirement plan. Thus many women work fewer years and contribute less towards [...]
Retirement planning sounds so far ahead, but you need to start as soon as possible
For most people, retirement seems so far ahead. Every few women start thinking about their retirement planning until children are out of the house. Mostly in their late 40s and 50s. But keep one thing in mind, the earlier you start, the easier it is. It’s a simple number game. The longer you save and [...]