08/12/2020
How Women Can Prepare For Retirement
When our grandparents retired, living to 75 amounted to a nice long life, and Social Security was often supplemented by a pension. Social Security was never designed to be a retirement plan on its own.
401k's have been hit hard in the 3 times since the 80's and that takes a toll on a persons retirement plans.
The Social Security Administration (SSA) estimates that today’s average 65-year-old woman will live to age 86½. That is about 10-12 years longer than the average male. With these projections, a retirement of 20 to 30 years or more could very well be in your future.1,2
Are you prepared for a 20-year retirement?
How about a 30-year or even 40-year retirement?
Think about this 1X 3 X $6.00 X 7 X 52 X 30 =
Do the math what do you come up with? ______________
That is just for FOOD in a 30-year retirement for just 1 person.
Is it any wonder women are worried about the future?
Don’t laugh; it could happen. The SSA projects that about 33% of today’s 65-year-olds will live past 90, with nearly 14% living to be older than 95.2
What can you do to make changes?
Ask questions.
Can you draw retirement income from what you’ve saved?
Can you create other income streams to complement Social Security?
How can you protect your retirement savings and other financial assets?
Enlist a financial professional.
The right person can give you some good ideas, especially one who understands the challenges women face in saving for retirement (Like Me).
Diana
Certified Retirement Education Specialist
843-771-7191
