A lot has been written about women and retirement and how we’re not adequately prepared.  Five main factors that contribute to this unprepared state include:

1) Taking time out to raise children or serve as a caregiver

2) Working part time without retirement benefits

3) Being a single parent which can limit career opportunities and make it more challenging to save for retirement

4) Unequal pay; women earn less than men which translates into less earned over a lifetime

5) A woman’s longer life expectancy means she will have greater retirement needs

Does this mean you cannot effectively save if you’re a working mom who has taken time out to raise kids or any of the other factors detailed above?  Absolutely not.  It simply means that you need to save smarter and employ some strategic tactics.  Most importantly, you need to start the conversation about retirement and have a plan in place.  For more information on this topic, check out this Forbes article here.  And to talk retirement, please call or email us.