Your SlideShare is downloading. ×
  • Like
  • Save
6 Mistakes Women Make When Planning for Retirement
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×

Now you can save presentations on your phone or tablet

Available for both IPhone and Android

Text the download link to your phone

Standard text messaging rates apply
Published

When preparing for retirement women face challenges that their male counterparts do not. Ladies, what mistakes are you making?

When preparing for retirement women face challenges that their male counterparts do not. Ladies, what mistakes are you making?

Published in Economy & Finance , Business
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
No Downloads

Views

Total Views
746
On SlideShare
0
From Embeds
0
Number of Embeds
1

Actions

Shares
Downloads
0
Comments
0
Likes
1

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. 6 Mistakes Women Make When Planning For Retirement Jane Nowak, CFP® - MoneyGal2020 Retirement Specialist for Women in their Prime Kring Financial Management jane@kringfinancial.com Securities offered through Triad Advisors, Inc. Member, FINRA/SIPC
  • 2. Why It Is So Important for Women ToAvoid Money Mistakes When Planning for Retirement?1. Due to family responsibilities, we generally work fewer years than men2. We often make less pay over our working lifetimes3. We live an average of 5-7 years longer than men4. Pensions are going, going…gone from corporate America5. 50% of all marriages end in divorce Securities offered through Triad Advisors, Inc. Member, FINRA/SIPC
  • 3. And Because, When It Comes ToRetirement -It Is Closer Than YouThink !! Securities offered through Triad Advisors, Inc. Member, FINRA/SIPC
  • 4. Mistake #1 We Say…• “Im Too Busy To Plan” – We women don’t take the time to plan for ourselves. – While we nurture by nature and naturally take care of everyone else first, it is okay to take care of ourselves too. Securities offered through Triad Advisors, Inc. Member, FINRA/SIPC
  • 5. Mistake # 2 We Say…• My Husband Takes Care Of Our Finances – …Anyone But Me – Totally abdicating the financial reins may end up being a ‘bad idea’. Remember that your husband may predecease you and 50% of marriages end in divorce. Securities offered through Triad Advisors, Inc. Member, FINRA/SIPC
  • 6. Mistake # 3 We Say… • Ill Save More Once My Children Are Through College – It is okay to help your children. But, the truth is that starting to save for retirement when your children are age 23 (or older) is very late for women to begin their retirement savings. – Remember it is not too soon for your children to take on some financial responsibility and for you to begin to take care of your future. Securities offered through Triad Advisors, Inc. Member, FINRA/SIPC
  • 7. Mistake # 4 We Say…• I Dont Know Enough About Investing – Subscribe to a personal finance magazine and take some time every week to read about the economy and investing. Until you are ‘up to speed’, there are always financial professionals who can help you. Securities offered through Triad Advisors, Inc. Member, FINRA/SIPC
  • 8. Mistake # 5 Fact…• When We Do Invest, We Invest Too Conservatively – Understand that because we generally live longer, work fewer years and are able to save less, we must take the time to learn to about appropriate investment risk for our investment time horizon. Securities offered through Triad Advisors, Inc. Member, FINRA/SIPC
  • 9. Mistake # 6 Fact…• We Are Not Saving Enough Money During Our Working Years – Because we generally live longer, we have to save more than men. – Aim to save 10% to 15% of your annual pay. Securities offered through Triad Advisors, Inc. Member, FINRA/SIPC
  • 10. Recap1. I’m Too Busy2. My Husband Takes Care Of Our Finances3. I’ll Begin Saving When I Get My Kids Through College4. I Don’t Know Enough About Investing5. When We Do Invest, We Are Too Conservative6. During Our Working Years, We Don’t Save Enough Securities offered through Triad Advisors, Inc. Member, FINRA/SIPC
  • 11. Ready, Set, Get Going Today!• Identify your reason(s) for not doing your own/separate (if married) retirement planning.• Take action now to take control of your retirement destiny.• Remember that: Despite the many obstacles that women face, we must take the initiative and plan for our own retirement years.• Start today! Securities offered through Triad Advisors, Inc. Member, FINRA/SIPC
  • 12. Jane Nowak, CFP® –MoneyGal2020 Financial Advisor for Women in their Prime. Kring Financial Management jane@kringfinancial.comhttp://www.kringfinancial.com/about-us/advisors-and- affiliates/jane-nowak.html Securities offered through Triad Advisors, Inc. Member, FINRA/SIPC