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, [...]
Posts under ‘Retirement For Women’
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 [...]
What to do if you are a caregiver?
If you are caring for an elderly or disabled relative who needs help managing their monthly Social Security or SSI benefits, you can apply to be representative payee. Social Security will conduct a careful investigation to determine if you meet the requirements. You can use the person’s benefits on his or her behalf. Therefore, you [...]
Every women should have an IRA or Roth IRA
Every women should always have an IRA or Roth IRA, even if they are a stay-at-home mom. If a divorce was to happen to a women, her separate retirement fund would still be intact and will come in handy when she reaches the age of 65. She should invest in mostly stocks when she is [...]
Your Retirement Account: Why You Should Save It For Retirement
by: Michelle L. Marrs A frustrating situation that bankruptcy attorneys are often faced with is meeting clients who have drained their retirements in an effort to avoid bankruptcy, only to end up filing anyway. In a bankruptcy situation, funds in a qualified retirement account are exempt to over $1 million dollars – a limit not [...]