On March 8, we observe International Women’s Day, a celebration of women’s economic, political and social achievements. Yet women still face challenges, such as the ability to gain the financial resources needed for a comfortable retirement. If you’re a woman, what steps should you take to make progress toward this goal?
For starters, contribute as much as you can afford each year to your IRA and your 401(k) or other employer-sponsored retirement plan. When you salary goes up, boost your contributions to these plans. And consider growth-oriented investments in your retirement accounts.
Here’s another tip: If you are married, talk to your spouse about Social Security. If you become a widow, you could receive survivor benefits, but they will be reduced if your spouse started to take Social Security before full retirement age. Also, have your spouse consider maintaining a life insurance policy with you as the beneficiary.
By making these and other moves, you can help yourself move toward the financial security you deserve.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. For more information or to learn more about the information contained in this article contact Marie Green of Edward Jones conveniently located at 3565 Crompond Road (Rte 202) Cortlandt Manor, NY 10567, (914) 736-2078.