For most women, the prospect of retirement looks vastly different today than it did in decades past. The days of being able to count on company pensions and social security may be coming to an end, and a great deal of uncertainty surrounds the old philosophies of investing for retirement. Worse still, despite longer expected life spans, studies show that women are only aiming for an average of $200,000 in retirement savings versus $400,000 for men.
Women have a lot of catching up to do…and they have to be smarter about investing with the funds they have. Luckily, there are great opportunities out there that may make sense for you––options designed to help create reliable income in retirement. If you are interested in annuities as part of your retirement planning, visit this page on our annuity website.
According to a recent Harris poll, nearly 1/3 of women between the ages of 40 and 69 do not have a clear idea how much money they can withdraw annually from their retirement accounts. About 32% of women in their 40s and 50s estimate they will withdraw an unrealistic 11% – 30% of their savings annually. This leaves women vulnerable to outliving their savings. It is essential that you decide on and stick to a realistic investment and savings plan that gets you where you want to go. This includes having a firm grasp on what you’ll need, monthly income-wise, in retirement.
Your financial needs and goals will vary depending on what stage of life you’re in. By listening and getting to know you and your situation, we can help you put a plan in place to help you confidently work towards meeting your retirement goals. Call or click to schedule your complimentary consultation to learn about how we can help you:
Disclosure: Guarantees are subject to the claims paying ability of issuing insurance company. Insurance advice and quotes are offered through individual licensed agents. Investment advice is offered through DeWitt & Dunn Financial Services.