Making assumptions can cause a tremendous amount of unnecessary stress and anxiety when it comes to our finances. Assuming the worst can lead us to make bad financial decisions. Or worse, it can cause us to avoid making decisions at all. The biggest thing that holds women back in their finances is not […]
According to Fidelity’s Retiree Health Care Cost Estimate, a 65-year old couple (who retired in 2016) will need an estimated $260,000 to cover health care costs in retirement. This is a six percent increase over the estimate of $245,000 for 2015, and the highest estimate since calculations began in 2002. (Source) Long Term Care […]
Women’s Equality Day was August 26th, but many women are stilled being paid less than men. This is one reason why I believe women need to create financial wellness by making their money work hard for them. A great article was published on Bankrate.com: 5 Investing Resources for Women (read it here) that I think […]
When it comes to living a long life, I have good news and bad news. The good news is that women are outliving men. The bad news is that it’ll cost more money to fund a longer retirement. Longevity is the greatest retirement risk for women and that is compounded by the ever-increasing cost of […]
Thirty-three percent of Americans have nothing saved for retirement. Fifty-six have saved less than $10,000 for retirement. In 2003, the United States Senate declared April Financial Literacy Month. That’s because there’s a huge need for people to get wise about finances. They need to learn effective strategies to prepare for retirement. Financial literacy starts with […]
Things do not get better by leaving your finances alone. In fact, my experience is that the longer you ignore your financial circumstances, the worse things gets. I’ve personally experienced the stress of financial struggle. I’ve also observed it in people I’ve worked with. There’s absolutely nothing more grueling than dealing with financial hardship. On the flip side, […]
FYI, the contribution limits on 401K, 403b and some 457 plans have increased for 2018 to $18,500 (up from $18,000 for 2017). If you’re over 50, you qualify for the Catch-up provision, so you get to contribute an additional $6,000 (for both 2017 & 2018). For my school teacher clients who have a 403b account […]
Even though women are well educated and have successful careers, studies show they lack confidence in financial and retirement planning. Add to that the fact that, for women, money is emotional. We don’t see it as just a transaction as men do. Which has a tendency to make us feel incompetent when talking about […]
Studies show that women who work with a financial professional to create a plan for their financial security are better prepared for retirement. Studies also indicate that while women have a desire to increase their knowledge of finances and retirement planning, they don’t take action. I believe one reason is because the financial services […]
If you’re a baby boomer woman and you feel like you’re behind in your retirement savings, you are not alone. According to The Allianz Women, Money and Power Study (2007), 62% of women wish they had done more to prepare for their retirement. More than half (55%) wish they had saved more money and had […]