Browse > Home / Debt, Credit Counseling / Women need to take control of their finances

Women need to take control of their finances

October 20, 2008

It’s time for women to buckle down and save up for retirement.

Recent studies show that women are very unprepared for retirement.

According to the Ninth Annual Transamerican Retirement Survey, single women estimate they need a median amount of $500,000 by the time they retire. Despite their estimates, one third of women reported they have saved less than $25,000 and only one in 10 women reported having saved more than $100,000.

What’s even more disturbing, the majority of these women arrived at these numbers based on a guesstimate and not actual calculations.

It is a fact that women outlive men. The prospects of having Social Security to fall back on are rapidly diminishing, especially for younger workers.

If you haven’t started to save for retirement, you should meet with a financial planner in your area and talk about what you can do to start building a nest egg.

If you’re concerned that you don’t have enough leftover income every month to set aside money for retirement, contact the certified counselors at Advantage CCS. They can go over your budget and help you to look for ways to scale back on your expenses so that you can pay down any debt you may have and possibly free up some money to put towards retirement savings.

Don’t let the turbulence in the Stock Market discourage you from saving money. If you’re nervous about investing, you can ask your financial planner to guide you towards low risk options.

Written by admin · Filed Under Debt, Credit Counseling 

Comments

Terms of Service
1. All comments are subject to review by Advantage Credit Counseling Service prior to their publication on this site. Advantage CCS reserves the right to decline publication to any post it deems in violation of the Terms of Service.
2. No potentially libelous or damaging statements will be posted. This includes negative and / or unsubstantiated allegations against Advantage CCS and its competitors.
3. No comments including obscene, explicit or racist language will be posted.
4. Comments containing personal attacks, insults or threats will not be posted.
5. Comments not related to matters of personal finance, budgeting, credit counseling, housing counseling, bankruptcy and other related financial issues will not be posted.
6. Anyone who posts using another person’s identity will be barred from posting in the future.