When it comes to investing for retirement, women are often at a disadvantage. They typically earn less than men and begin investing later in their careers. They're more likely than men are to take time out from the work force to raise children or care for elderly parents. As a result, women tend to accumulate less money for retirement than they may need.*
Divorce or widowhood and a longer average life expectancy increase the chances that a woman may be single at some point during her lifetime. Having an adequate nest egg to provide for life's uncertainties is essential.
That's why it's so important that you make time to take stock of your retirement portfolio and focus on strategies that can help you prepare for the future.
An early start
As you probably know, the sooner you begin investing, the more years your money will have to potentially grow and compound. Investing even a small amount can result in a substantial account balance over time. If you haven't started investing, don't wait any longer to put as much as you can afford in an employer's retirement plan or an individual retirement arrangement (IRA).
The right stuff
The mix of stocks, bonds and cash alternative investments you choose has a lot to do with how well your portfolio performs. Your asset allocation** should reflect your goals, time frame and risk tolerance. Generally, the longer you have until you plan to retire, the more risk you may be comfortable taking with your investments. When you are designing your asset allocation strategy, keep in mind that even low inflation can reduce the purchasing power of your retirement portfolio over the long term.
Under control
Reducing expenses both before and during retirement can improve your financial situation. Eliminating costly credit card debt or moving to a smaller house could help stretch your retirement money.
Learning curve
Reading financial websites and publications geared specifically toward women can help improve your financial literacy. Your financial professional can answer any questions resulting from your research and help you get on track toward a more comfortable retirement.
* Women & Retirement: Current Outlook & Opportunities, Transamerica Center for Retirement Studies, August 2010
** Asset allocation does not guarantee a profit or protect against losses.
FINRA Reference #FR2012-1030-0151/E 02/04/13
Divorce or widowhood and a longer average life expectancy increase the chances that a woman may be single at some point during her lifetime. Having an adequate nest egg to provide for life's uncertainties is essential.
That's why it's so important that you make time to take stock of your retirement portfolio and focus on strategies that can help you prepare for the future.
An early start
As you probably know, the sooner you begin investing, the more years your money will have to potentially grow and compound. Investing even a small amount can result in a substantial account balance over time. If you haven't started investing, don't wait any longer to put as much as you can afford in an employer's retirement plan or an individual retirement arrangement (IRA).
The right stuff
The mix of stocks, bonds and cash alternative investments you choose has a lot to do with how well your portfolio performs. Your asset allocation** should reflect your goals, time frame and risk tolerance. Generally, the longer you have until you plan to retire, the more risk you may be comfortable taking with your investments. When you are designing your asset allocation strategy, keep in mind that even low inflation can reduce the purchasing power of your retirement portfolio over the long term.
Under control
Reducing expenses both before and during retirement can improve your financial situation. Eliminating costly credit card debt or moving to a smaller house could help stretch your retirement money.
Learning curve
Reading financial websites and publications geared specifically toward women can help improve your financial literacy. Your financial professional can answer any questions resulting from your research and help you get on track toward a more comfortable retirement.
* Women & Retirement: Current Outlook & Opportunities, Transamerica Center for Retirement Studies, August 2010
** Asset allocation does not guarantee a profit or protect against losses.
FINRA Reference #FR2012-1030-0151/E 02/04/13
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We Value Your Input... Your feedback is very important to us. If you have any questions about any of the subjects covered here, or suggestions for future issues, please don't hesitate to call. It's always a pleasure to hear from you.
This is an advertisement prepared by LTM Publishing, Inc. for the use of the sender. Articles are not written or produced by the named representative. The advertisement provided is not intended as legal or tax advice and may not be relied on for purposes of avoiding federal tax penalties. All individuals, including those involved in the estate planning process, are advised to meet with their tax and legal professionals. The individual sponsoring this newsletter will work with your tax and legal advisors to help select appropriate product solutions. We do not endorse or guarantee the content or services of any website mentioned in this newsletter. We encourage you to review the privacy policy of each website you visit. Limitations, restrictions and other rules and regulations apply to many of the financial and insurance products and concepts presented in this newsletter, and they may differ according to individual situations. The publisher does not assume liability for financial decisions based on the newsletter's contents. Great care has been taken to ensure the accuracy of the newsletter copy at press time; however, markets and tax information can change suddenly. Whole or partial reproduction of Let's Talk Money® without the written permission of the publisher is forbidden. ©LTM Publishing, Inc., 2013.
We Value Your Input... Your feedback is very important to us. If you have any questions about any of the subjects covered here, or suggestions for future issues, please don't hesitate to call. It's always a pleasure to hear from you.
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