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March 2, 2024 9:00 am
A recent study found women are far less financially prepared for retirement than men. According to TransAmerica, men have more than double the retirement savings of women. As Peter with Richon Planning and Erin Kennedy discuss, there are several factors that contribute to that discrepancy: the earnings gap, women are more likely to be caregivers, and they're more likely to have professional interruptions.
Further, 33% of women do not have a retirement strategy versus 18% of men. However, women live longer than men; they need a retirement plan that accounts for longevity!
Working with a financial advisor can help you create a holistic financial plan, and an advisor can help outline several ways to save for retirement, even if you're not working, like a spousal IRA. If you'd like to speak with Peter to see if you're on track for retirement, please give him a call at (919) 300-5886 or visit www.RichonPlanning.com
#WealthManagement #WomenandFinance #WomenandRetirement
