Three Things Working Women Should be Doing to Save for Retirement
A large part of Women’s History is about independence. Being independent means being well-informed, self-reliant, and self-assured; qualities that were instrumental in women’s progress. Those same qualities are the ones you need to help you plan for retirement.
While achieving financial security might seem like vague, pie-in-the-sky type goal, we’ve got some more specific steps that you as a working woman can take to save for retirement.
1. Know the facts of your retirement plan
Knowing the details of your retirement plan is the first step in retirement planning. Whether you’ve been at your job for five months or five years, don’t be shy about finding out the answers to any questions you might have. Here’s a helpful list of questions to ask yourself from WISER’s Retirement Plan Checklist . Check out the list to find questions to ask your employer and your spouse, as well as additional questions to ask if your are contemplating divorce.
What women need to know:
- Have you earned a retirement benefit?
- Do you know how much your benefit will be?
- Do you know what happens to your benefit if you change jobs?
- Do you know what happens to your benefit if you retire early?
- Do you have retirement plan information from all of your jobs?
- Do you know how much your Social Security benefit will be?
- Do you know how you can save for retirement if you do not have a retirement plan?
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