Before the pandemic, 49% of the women surveyed in the Allianz Women, Money & Power Survey (2013), stated their number one money fear sounded something like this: I’m afraid I’ll end up penniless and homeless in retirement. This is a fear I hear about more often than not from women who come […]
Last week, I was talking with a friend and we got to talking about women, money, and retirement. She told me how her fifty-five-year-old cousin is worried about her husband leaving her, which would put her in a vulnerable financial position. She’s thinking about retiring in the next five years but is afraid to because […]
What tends to get women in trouble is not having a plan to get ahead financially, which also means not being able to put away anything for retirement. When it comes to women and retirement, the reality is that most of us will end up in charge of our own finances. Hence the need for […]
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 […]