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Posted on September 5, 2009 by Amar Singh123 | Posted under Motivation
Why Women Should Worry About Retirement More Than Men
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After all, because women typically live seven years longer than men, combined with the skyrocketing divorce rate, many women will find themselves alone in their older years. (Statistics show that most women are alone by age 56!) And the figures show us that if a woman took out any time from her career to have children (about seven years) she will pay for it later with only 50 f what her male counterparts will receive in retirement benefits. Sigh. So, what can a woman do to ensure that she can retire in style? Start by taking a look at some of our suggestions below. Save More Most experts advise us to save about 10 percent of our income in order to have a sufficient amount to retire one, but if you are a woman, you should be saving closer to 12 percent. Because of the reasons listed above, you simply won’t receive the same amount in retirement pensions. What’s more, the way that social security figures your monthly payment is based on the top 35 years of your work history. But guess what? If you were out for seven or so of those years having children, they will be counted as “O,” and the overall amount will be reduced. Invest Wiser Since you will need to save more by retirement age, you will have to more careful with your investments. Know your risk level, and then don’t exceed it under any circumstances! Join the Team Many employers offer investment and savings strategies such as 401K plans and savings matching programs, and if you are a woman, you should plan to participate in all of them that you can. Use Cash, Not Credit An alarming number of Americans today are in serious financial trouble. This was made evident recently with the passing of the new bankruptcy bill that will make it more difficult to file. A record number of people filed for bankruptcy in anticipation of it. It’s easy to get into debt when people today spend an average of $1.21 for every dollar they earn, but don’t be tempted to fall into that trap. Instead, plan to put as much money away for the future as you can. Don’t Go It Alone While it is important for all women to step up to the plate and get serious about their finances, it’s equally important for them to get advice from professionals. Talk to tax planners, investment specialists and budget planners to get all the advice that you can. About The Author: Did you find this article useful? For more useful tips and hints, points to ponder and keep in mind, techniques, and insights pertaining to Internet Business, do please browse for more information at our websites. http://www.adsence-dollar-factory.com http://www.100earningtips.com |
Tags: WOMEN IS BEAUTIFUL & GREAT PART OF WORLD ..
