Women, can you improve your Retirement Readiness?

July 21, 2014

It's easy... you can help improve your retirement outlook by following these 7 steps!

A study from the nonprofit Transamerica Center for Retirement Studies® (TCRS) titled, Fourteen Facts About Women’s Retirement Outlook aims at raising awareness of retirement risks that women face in order to affect positive change.

“Women can take greater control of their finances,” according to Catherine Collinson, president of TCRS, “by taking small steps that can ultimately lead to a giant leap in terms of their long-term retirement readiness. How each woman ultimately plans on spending her retirement is unique, but the tools to help attain retirement readiness are common to all. Women have made tremendous strides in recent decades in terms of educational attainment and careers. Now is the time to make even greater strides in achieving a financially secure retirement.”

Follow these 7 Steps for Improving Women’s Retirement Readiness
1.    Develop a retirement strategy and write it down.
2.    Calculate your retirement savings and income needs.
3.    Consider retirement benefits as part of your total compensation.
4.    If your employer offers a retirement plan, participate.
5.    Get educated about retirement investing.
6.    Have a backup.
7.    Importantly, talk about retirement with family and close friends.

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