Preparing for the Future IS RETIREMENT PLANNINGMORE CHALLENGING FORWOMEN?
T oday, about half of U.S. mothers carry their household financial load, according to the U.S. Census Bureau. However, a 2015 Prudential Research study revealed that only roughly 14 percent of women would be able to make it to retirement with their current lifestyle intact. Why is this? It may come down to a lack of “financial confidence.” A study looking at investing habits and financial planning showed that 63 percent of women weren’t fully confident that they could independently plan for retirement. The study also noted that 83 percent of women “want to get more involved in their finances within the next year.” Why is it so important for women to be more involved in their retirement planning? One big reason is this: longevity. Women have a higher life expectancy than men, and they often outlive their spouses. That said, regardless of confidence or ability, retirement planning can be more challenging for women than men.
benefits. And of the women who are employed full time, only 44 percent have a retirement plan in place.
One of the biggest discrepancies between women and men is the
number of years they spend in the workforce. Women are significantly more likely to
leave the workforce (temporarily or permanently) in order to care for family. When that happens, their ability to save for retirement becomes that much more challenging. What can you do to make retirement planning less of a challenge? Speak with a retirement planning specialist. With the help of someone who knows retirement, you can put together a road map that will help guide you toward retirement success.
According to the Department of Labor, women are more likely to be employed on a part-time basis, meaning they wouldn’t qualify for retirement
New Office Announcement
CRITICAL CONSIDERATIONS IN YOUR 60s, 70s, & 80s Ashby Ponds Retirement Community, Ashburn, VA Thursday, Oct. 11 at 1:00 p.m. TAXES IN RETIREMENT: AFTER THE TAX CUTS AND JOBS ACT OF 2017 Reston Chamber of Commerce, Reston, VA Thursday, Oct. 11 at 6:30 p.m. or Wednesday, Oct. 17 at 1:00 p.m. FINANCIAL PLANNING IN A NEWTAX REALITY Palisades Library, Washington, DC Wednesday, Oct. 17 at 6:30 p.m. or Tuesday, Oct. 23 at 6:30 p.m. To register for any of the upcoming events, please email us at email@example.com or call Carol at (571) 800-6373. Make sure to check out our website to learn about upcoming events: CampbellWealth.com/educational-resources/upcoming-events
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