This article appears as part of Casey Weade's Weekend Reading for Retirees series. Every Friday, Casey highlights four hand-picked articles on trending retirement topics and delivers them straight to your email inbox. Get on the list here.
It is more important than ever before for women to be involved in the retirement planning process. On average, women are outliving husbands by about five years, and with that extended longevity brings unique financial and retirement challenges to be aware of.READ THE ARTICLE
Elevate your financial knowledge: Based on the stats, women should be prepared for the possibility of being left completely in charge of their financial life. They should attend all financial meetings alongside their husband or partner – Or, if single, should seek a professional financial advisor to become fully educated on assets, portfolio allocation and the retirement plan as a whole.
Financial female traits: In addition to having extended longevity stats in their favor, women also tend to bring beneficial factors to the financial and retirement planning process, including being more risk averse than men and being plan-oriented in nature. This not only provides a unique perspective in the realm of retirement strategies, but also can be motivating for women to take a more active role in investing and the creation of their own financial plan.
Lead with fiscal confidence: Women will undoubtedly control the bulk of the nation’s wealth in the not-so-distant future. As such, it only makes sense they take the reins as the financial leaders of their households, and that begins with utilizing any and all available resources.
👉 Check out our podcast episode, Why Smart Women Finish Rich, featuring best-selling author David Bach. Or, for a more in-depth look, register for our Smart Women, Smart Retirement webinar we’re currently hosting in partnership with David before it expires at the end of the month!