Women can face unique challenges when planning for retirement. Let’s take a look at three of them. First, women frequently step out of the workforce in their 20s, 30s, or 40s to care for children — a time when their job might just be kicking into high (or higher) gear. It’s a noble cause, of course. But consider this: A long break from the workforce can result in several financial losses beyond the immediate loss of a salary.
Tag: Retirement Planning
Each year, the Employee Benefit Research Institute (EBRI) conducts its Retirement Confidence Survey to assess both worker and retiree confidence in financial aspects of retirement. In 2018, as in years past, retirees expressed a higher level of confidence than today’s workers (perhaps because “retirement” is less of an abstract concept to those actually living it).
Planning for retirement at any age is always complicated, but when a couple or individual wants to retire at 55, goal attainment can be even more difficult. Careful management and allocation of resources, paired with inventive income-boosting and tax reduction strategies, are the keys to a successful early retirement.
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