Tips for Women to Save for Retirement

Women are more likely to experience retirement crisis more than men do. That is because, demographically, women tend to outlive men, experience job interruptions more and are not as knowledgeable about money saving. In addition, they spend more than men do.

These facts reflect statistically to the truth that women are more likely to suffer from poverty, especially that of single women. The truth that women earn less income than men do is enough a wakeup call to make the right measures to save for retirement.

Below are tips that women can do to prepare for their retirement.

Prioritize on retirement savings

Try on foreseeing what you will be in the future. You know it will be difficult if you will try to expect help from your children when they grow up. Definitely, dreaming that you are saved by winning in the lottery will not be of any help.

401(k)-grab the opportunity!

This is something you can opt for. In fact, it is one of the best opportunities that this can give you when retirement kicks in. This will definitely offer you a lot of help.

Lessen that time off from work

Getting a time off so that you may have some time with your kids is not at all bad idea itself. But lessen it as much as possible. This will only lower your Social Security gains.

Educate yourself on money

Comfort is gained in the beginning. Manage your money before retirement settles in. You may as well consider some help from a fee planner to help you with everything.

 

Posted by Ardent Editor on Oct 13 2008 in Women & Retirement

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