Our Time
Retirement is supposed to be “ our time ” – when we ’ re no longer spending the better parts of our days building a career or raising kids ( or both !). It ’ s an opportunity for us to share experiences with loved ones and pursue our passions without worrying about bills or balancing our dreams against an employer ’ s .
But for a lot of women , that ’ s not how retirement plays out . Research tells us that 60 % of women do not expect their income to last throughout their lifetime , and 62 % are worried they won ’ t be able to maintain their current lifestyle in retirement . 1 , 2 Why is that ? Why aren ’ t women as confident about enjoying retirement as men ?
Part of that answer lies in financial education . As a society , we ’ re not good at teaching our kids – especially our daughters – about money and investing , about the importance of saving for retirement when you ’ re young and can benefit from compounding . So when they become adults , they ’ re unsure and hesitant about investing , and they miss out on the potential to grow their wealth over time .
It doesn ’ t have to be this way . The truth is , you can take control and achieve the retirement you want . But becoming financially savvy around retirement doesn ’ t just happen . It starts by taking action – by learning how retirement works .
In the following pages , we ’ ll look at why women have been at a disadvantage when it comes to retirement planning , what expenses you should start thinking about now , the four components of wealth planning in retirement and some tips on maximizing your own nest egg . Our hope is when you ’ ve finished , you ’ ll have a good idea of where you are in your retirement journey and what steps you can take now so , when you ’ re ready , you can retire with confidence . And remember , if you need someone to help you create a plan or just want a sounding board to bounce ideas off of , we are here to help .
All my best ,
Heather Osborn Financial Planning Manager Baird Private Wealth Management
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