I have no doubt that my wife will outlive me! Now nature may interfere with that but if I was a gambling man (I don’t) I would bet on her! 85% of all widows over age 85 are women compared to only 45% of men*. We are basically outlived 2 to 1! So that makes you wonder why health insurance cost was always higher for females instead of males. Well, it the fact that they actually go to the Doctor and get treated and we don’t! That’s why! So how does that affect women and the need to know about retirement planning?
There are still some women who have no idea what their finances are like because the husband has handled them all their married lives and then he dies before she does and she is left figuring this out. Though this situation may be declining somewhat, I still see it more often than not. There is also the fact that women are making more money and being promoted into higher positions than ever before and the trend is still going up. This issue of making more and placing money in retirement plans is very important! Women who proactive and are doing this more and more, but some are still not taking control. In many households, the woman handles all the money! I am not trying to be sexist in this blog; I just want to encourage those who are not proactive to get proactive! The responsibility of figuring out the retirement income is even more important for both men and women jointly than ever before. Everyone needs to get better educated on financial issues.
If your excuse is “I don’t understand all this money stuff, so I don’t want to deal with it”, you have a rude awakening down the road!
Some issues that come up to name a few can be the early death or disability of a spouse, a divorce late in life or the economy goes crazy again and the main bread winner looses their job. We see this happening all the time.
I encourage women out there to start reading and getting educated on financial issues and demand that they be involved in all aspects of the retirement planning in the their household finances! Know where the funds are, how to access them and who you should deal with if your spouse dies or is disabled.
If you are single or widowed get with a sound advisor who WILL NOT risk your money! When you need to draw on your money, it needs to be there!
Do not wait, take action now! Take control of your finances and make sure your money will be there when you need it! An annuity may fit that need if suitable!
Take action by contacting Chris Raup, Certified Financial Coach CFC-I®, at 254-732-0300 or email@example.com.
To learn more from this educator, click here (Chris Raup).
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