RETIREMENT • Read Time: 3 min
How Women Can Prepare For Retirement
Are you prepared for a 20-year retirement?
Start with good questions.
How can you draw retirement income from what you’ve saved? How might you create other income streams to complement Social Security? And what are some ways you can 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. These may include income inequality or time out of the workforce due to childcare or eldercare. It could also mean helping you maintain financial equilibrium in the wake of divorce or death of a spouse.
Invest strategically.
If you are in your fifties, you have less time to make back any big investment losses than you once did. So, protecting what you have may be a priority. At the same time, the possibility of a retirement lasting up to 30 or 40 years will require a good understanding of your risk tolerance and overall goals.
Consider extended care coverage.
Claim Social Security benefits carefully.
Retire with a strategy.
As you face retirement, a financial professional who understands your unique goals can help you design an approach that can serve you well for years to come.
1. CDC.gov, January 20202. SSA.gov, February 25, 2020
3. Medicare.gov, February 25, 2020
4. Investopedia, November 24, 2019
The content is developed from sources believed to be providing accurate information.The information in the material in not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professional for specific information regarding your individual situation. The opinions expressed and material provided are for general information, should not be considered a solicitation for the purchase or sale of any security.
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