Posted March 5, 2013 by Jennifer Kane in How To

Women face concerns about reaching retirement goals

Women today exude self-assurance, juggling function and house life responsibilities seamlessly. One region exactly where they are not so confident of themselves even though is their capacity to keep their regular of living in the course of retirement.

Even though females are taking greater duty for their own and their households&rsquo finances, girls earning far more than $ 50,000 per year have become significantly less confident about maintaining their life-style in retirement, according to a recent study. &nbspPrudential Economic&rsquos latest biennial study on the &ldquoFinancial Knowledge and Behaviors Among Females&rdquo shows that a majority of girls doubt their potential to attain their retirement goals. The study also shows that with females in more control than ever of their finances, they face important challenges when it comes to financial selection making, and admit to a lack of knowledge about economic solutions that can support them.

So what&rsquos actually behind this lack of monetary self-confidence? Investigation points to a couple of culprits, including the nation&rsquos economic downturn. As several as 30 % of females surveyed are struggling to make ends meet, a scenario which can psychologically undermine even the most financially savvy among us.

The study also located a distinction in the level of confidence in between females younger than 35 and female infant boomers. Both groups have clearly defined financial objectives, but younger girls see themselves as novice investors and really feel ill-equipped to make critical economic choices. Amid all this uncertainty, ladies of all ages are encouraged to begin taking baby methods toward planning for a safe retirement. The excellent news is some of the ideal confidence-boosters are relatively straightforward:

* Take stock. How much have you saved already? How lengthy do you strategy to function? Will possessing children influence your capacity to save for the future? Receiving a clear image of exactly where you are will support you see exactly where you require to go.

* Safeguard your self. If you are married, have you and your spouse established adequate financial safeguards such as life insurance or long term care insurance coverage? While these conversations can be challenging, they are an critical aspect of a strong economic plan.

* Do your homework. The World wide web offers a wealth of educational materials to help you develop confidence and knowledge when it comes to monetary products and solutions. Make use of on-line tools and checklists to help you prepare for a meeting with a economic expert. Then take the subsequent step and make an appointment.

To learn much more and to locate a qualified economic professional near you, go to www.prudential.com/ladies. The site contains useful life-stage checklists, effortless-to-understand guides to economic items and services, and very first-particular person economic accounts that supply encouragement and support.

Taking action can support boost your self-assurance and give you the tools you need to secure your monetary future.

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Jennifer Kane